By Dale Kasler
dkasler@sacbee.com The Sacramento Bee
Published: Friday, Jul. 23, 2010 – 12:00 am | Page 6B

Home prices continued to recover in Sacramento and California last month, even though fewer sales were recorded, according to a report released Thursday.

The findings by the California Association of Realtors were consistent with recent trends showing a steady improvement in the state’s housing market in spite of a shaky economic recovery. [...] Continue Reading…

By DAVID STREITFELD Published: July 8, 2010 NY Times

LOS ALTOS, Calif. — No need for tears, but the well-off are losing their master suites and saying goodbye to their wine cellars.

The housing bust that began among the working class in remote subdivisions and quickly progressed to the suburban middle class is striking the upper class in privileged enclaves like this one in Silicon Valley.

Whether it is their residence, a second home or a house bought as an investment, the rich have stopped paying the mortgage at a rate that greatly exceeds the rest of the population. [...] Continue Reading…

It appears the banks are figuring out that they lose less money when the agree to negotiate and get properties sold through a “Short Sale” instead of taking the property back through a Trustee’s Sale foreclosure.
“Short Sale” by definition simply means the the asking price will net less than what is owed on the property.

This can be seen statistically right here in South Lake Tahoe as well as throughout the region and country with similar trends.
[...] Continue Reading…

By Robert Freedman, senior editor, REALTOR® Magazine (Click on Screen for Video Presentation)

You often hear talk within real estate about the shadow inventory that looms over markets. These are the homes that are at risk of going into default or are already owned by the banks and that can come onto the market at any time. They pose a problem because a flood of these properties can put enormous downward pressure on prices as inventories rise far above what can be absorbed by demand. Of course, the properties tend to sell for quite a bit less than other properties, and that’s good for buyers, particularly investors who can scoop up properties in bulk. But the discount inventory isn’t friendly to sellers whose properties have to compete with them. [...] Continue Reading…

By Jim Wasserman – Sacramento Bee Published: Thursday, Jun. 24, 2010

Lots of people will want to get in on this one: California is going to use federal money to pay down the mortgages of struggling homeowners. [...] Continue Reading…

Home Prices Up in April (watch NAR video)

[...] Continue Reading…

By Stephanie Armour, USA TODAY

Mortgage rates have risen to their highest levels in six months, threatening to delay a housing turnaround by discouraging potential home buyers.The average rate on a 30-year, fixed-rate home loan climbed to 5.29% for the week ended Thursday, Freddie Mac reported. That’s the highest since December and up from 4.91% a week earlier. [...] Continue Reading…

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