Comments on: What’s Wrong with California Real Estate? [Infographic] http://www.movoto.com/blog/real-estate-and-more/whats-wrong-with-california-real-estate/ The Lighter Side of Real Estate Sat, 18 May 2013 20:16:59 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Jadeja http://www.movoto.com/blog/real-estate-and-more/whats-wrong-with-california-real-estate/#comment-7195 Jadeja Sun, 25 Nov 2012 09:25:49 +0000 http://blog.movoto.com/?p=3258#comment-7195 The Housing Act (from 1994!!!) DIDN'T force any bank to make sub-prime loans, in fact sub-prime loans are not mentioned anhywere in the Housing Act.They were an invention of the Banks, whose internernal memos claimed (there is NO risk in the Housing Market) and instructed its officers to start making loans to anybody and everybody even with no pay stubs, regardless of the price.The Fannie Freddie talks were about TRYING TO GET THE BANKS TO STOP MAKING THESE LOANS!!!THEY REFUSED!!!! And kept right on giving them AGAINST the advice of regulators.The idea that Barney Frank had anything to do with this is just blatant right wing poppycock. The Housing Act (from 1994!!!) DIDN’T force any bank to make sub-prime loans, in fact sub-prime loans are not mentioned anhywere in the Housing Act.They were an invention of the Banks, whose internernal memos claimed (there is NO risk in the Housing Market) and instructed its officers to start making loans to anybody and everybody even with no pay stubs, regardless of the price.The Fannie Freddie talks were about TRYING TO GET THE BANKS TO STOP MAKING THESE LOANS!!!THEY REFUSED!!!! And kept right on giving them AGAINST the advice of regulators.The idea that Barney Frank had anything to do with this is just blatant right wing poppycock.

]]> By: Terry Osburn http://www.movoto.com/blog/real-estate-and-more/whats-wrong-with-california-real-estate/#comment-5494 Terry Osburn Fri, 15 Jun 2012 15:20:21 +0000 http://blog.movoto.com/?p=3258#comment-5494 Article brings up many good points. In my opinion the housing market will not gain full or sustainable recovery until the jobs come back. Some areas of the country apparently have seen some job growth. Overall there is much more room for improvement. I personally do not take much credence in graphs and percentages as they can be manipulated in many ways. What I do know is this, historically no matter what is going on in the economy there are homes selling. Keep stressing long term investment. In terms of short sales, many homes in distress are being delayed released to market as all efforts are exhausted for other alternatives for the borrower. BofA has indicated in recent days they will be more apt to do loan modifications, principal reductions and/or deed in lieu's, even if homeowner presently has home on market as a short sale. Expect the seesaw effect for awhile, even though historically real esate has always had up and down curves I believe the ride will be a little more bumpy in the next few years.... Article brings up many good points. In my opinion the housing market will not gain full or sustainable recovery until the jobs come back. Some areas of the country apparently have seen some job growth. Overall there is much more room for improvement. I personally do not take much credence in graphs and percentages as they can be manipulated in many ways. What I do know is this, historically no matter what is going on in the economy there are homes selling. Keep stressing long term investment. In terms of short sales, many homes in distress are being delayed released to market as all efforts are exhausted for other alternatives for the borrower. BofA has indicated in recent days they will be more apt to do loan modifications, principal reductions and/or deed in lieu’s, even if homeowner presently has home on market as a short sale. Expect the seesaw effect for awhile, even though historically real esate has always had up and down curves I believe the ride will be a little more bumpy in the next few years….

]]> By: Derek Jennings http://www.movoto.com/blog/real-estate-and-more/whats-wrong-with-california-real-estate/#comment-940 Derek Jennings Sat, 25 Feb 2012 15:49:45 +0000 http://blog.movoto.com/?p=3258#comment-940 Well this similar thing happened in the late 1970's, lots of foreclures, however the price spike was not as high, that's whats so intense about the last ten years of California Real estate. Well this similar thing happened in the late 1970′s, lots of foreclures, however the price spike was not as high, that’s whats so intense about the last ten years of California Real estate.

]]> By: Maureen Daley http://www.movoto.com/blog/real-estate-and-more/whats-wrong-with-california-real-estate/#comment-807 Maureen Daley Mon, 06 Feb 2012 18:43:46 +0000 http://blog.movoto.com/?p=3258#comment-807 Very informative information. I appreciate the comments of others, which are quite accurate, Very informative information. I appreciate the comments of others, which are quite accurate,

]]> By: jody henderson http://www.movoto.com/blog/real-estate-and-more/whats-wrong-with-california-real-estate/#comment-799 jody henderson Sat, 04 Feb 2012 17:53:41 +0000 http://blog.movoto.com/?p=3258#comment-799 Great article! Thanks. I love the info AND the humor. Jody Great article! Thanks. I love the info AND the humor.
Jody

]]> By: Jodi Summers http://www.movoto.com/blog/real-estate-and-more/whats-wrong-with-california-real-estate/#comment-797 Jodi Summers Sat, 04 Feb 2012 17:47:15 +0000 http://blog.movoto.com/?p=3258#comment-797 Here’s the sack! In January 2012, residential property prices in Santa Monica at a median price that was 43% higher than Jan 2010 > from $838,000 $1,200,000 > that’s an impressive rise of $362,000. Even with a 36% drop in properties sold, that’s noteworthy increase, wouldn’t you say? Santa Monica's 36% increase is particularly noteworthy since statewide the median price declined 6.2% on a year-over basis to $285,920, according to the California Association of Realtors…Fortunately, it’s looking like the rest of the state is off the bottom; for the second month in a row, prices are on the rise...even though they note there is still downward pressure on prices for more expensive homes that are not coastal. In SoCal, DataQuick reports that the median home price in the six-county region continued a string of year-over-year declines, falling by 6.9% to $270,000 in December 2011. The regional median price has now fallen on a year-over basis for ten consecutive months. Here’s the sack! In January 2012, residential property prices in Santa Monica at a median price that was 43% higher than Jan 2010 > from $838,000 $1,200,000 > that’s an impressive rise of $362,000. Even with a 36% drop in properties sold, that’s noteworthy increase, wouldn’t you say?

Santa Monica’s 36% increase is particularly noteworthy since statewide the median price declined 6.2% on a year-over basis to $285,920, according to the California Association of Realtors…Fortunately, it’s looking like the rest of the state is off the bottom; for the second month in a row, prices are on the rise…even though they note there is still downward pressure on prices for more expensive homes that are not coastal.

In SoCal, DataQuick reports that the median home price in the six-county region continued a string of year-over-year declines, falling by 6.9% to $270,000 in December 2011. The regional median price has now fallen on a year-over basis for ten consecutive months.

]]> By: Lauren Tyson http://www.movoto.com/blog/real-estate-and-more/whats-wrong-with-california-real-estate/#comment-791 Lauren Tyson Fri, 03 Feb 2012 23:55:51 +0000 http://blog.movoto.com/?p=3258#comment-791 Glad you like it! What's the short sale wait time in your neck of the woods, Paula? I think that scares off buyers just as much sometimes. Glad you like it! What’s the short sale wait time in your neck of the woods, Paula? I think that scares off buyers just as much sometimes.

]]> By: Lauren Tyson http://www.movoto.com/blog/real-estate-and-more/whats-wrong-with-california-real-estate/#comment-790 Lauren Tyson Fri, 03 Feb 2012 23:53:46 +0000 http://blog.movoto.com/?p=3258#comment-790 Yeah...let's hope that "Economy Boost" part of the flow chart happens sooner rather than later! Yeah…let’s hope that “Economy Boost” part of the flow chart happens sooner rather than later!

]]> By: Paula Samuel http://www.movoto.com/blog/real-estate-and-more/whats-wrong-with-california-real-estate/#comment-789 Paula Samuel Fri, 03 Feb 2012 23:50:56 +0000 http://blog.movoto.com/?p=3258#comment-789 Excellent article and research and right on the money. There is no inventory, period. There are lots of buyers, some cash some financing, but there is no inventory. This is a great time to sell if you have equity in your home and, it's a good property. I've also found that about 90% of my clients who initially think they will be able to purchase a short sale and/or foreclosure, give up and move into the standard market. Excellent article and research and right on the money. There is no inventory, period. There are lots of buyers, some cash some financing, but there is no inventory. This is a great time to sell if you have equity in your home and, it’s a good property. I’ve also found that about 90% of my clients who initially think they will be able to purchase a short sale and/or foreclosure, give up and move into the standard market.

]]> By: Patti Davies http://www.movoto.com/blog/real-estate-and-more/whats-wrong-with-california-real-estate/#comment-787 Patti Davies Fri, 03 Feb 2012 23:38:17 +0000 http://blog.movoto.com/?p=3258#comment-787 so Cal is distressed, sellers are working it, They want to see how far they can go without making a payment, Standard sellers are upset they are loosing cash equity, and are waiting for the market to improve so Cal is distressed, sellers are working it, They want to see how far they can go without making a payment, Standard sellers are upset they are loosing cash equity, and are waiting for the market to improve

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