Archive for the 'write-downs' Category

Rancho Palos Verdes and Palos Verdes Estates welcome the California housing crash – From $1.75 million to $1 million in an elite market. MLS has 1 listed foreclosure yet 200 homes are in some stage of foreclosure in Rancho Palos Verdes. A $4.7 million loan made on a $1.5 million home sale in 2003.

Home equity loans in California still over $600 billion. Pasadena and the mid-tier correction starting. Short sale for 50 percent off and HELOC machine being sold at auction for 70 percent below the outstanding loan debt.

Real Homes of Genius – Culver City foreclosures focus on lower priced homes. Banks moving on lower priced homes in mid-tier markets. 175 homes distressed in Culver City yet only 3 show up on the MLS.

Housing never really improved – 10 charts showing the United States housing market is entering the second wave of problems. 1 out of 4 people with no mortgage payment in the last year are still not in the foreclosure process.

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