DataQuick Information Systems just reported that across the six counties of Southern California it was the highest level of sales in almost a year. The median sales price in July was $260,000 in Riverside County and $230,000 in San Bernardino County. Both represent declines of about $10,000 to $15,000 in the last month.
John Walsh, MDA DataQuick president said: "What we're looking at is a fire sale of properties in newer affordable neighborhoods that were bought or refinanced near the price peak with lousy mortgages."
Also, First American CoreLogic reported that its monthly home price index fell 10.7 percent in June, as the U.S. housing market copes with a historic slump.
The biggest drop was seen in the Los Angeles area, where prices fell by 26.5 percent. Prices fell by 26.1 percent in the Riverside, Calif., area.
Drops of more than 20 percent were seen in areas in that were flooded with speculators during the housing boom and have been hit hardest by the bust.
Those include: Oakland and San Diego, Calif, Phoenix, Las Vegas, Miami and the Cape Coral-Fort Myers and Fort Lauderdale-Pompano Beach areas in Florida. San Diego CA real estate agents
Home prices will fall up to 50%, the Fed can’t keep up with the jingle mail folks, cutting rates to 0 = 33% inflation. Poor, poor timing. Jimmy Rogers recently called on Blind Ben to resign, a total screw up. San Diego Plastic Surgery Doctor
Clinton didn’t have anything to do with a balanced budget. We had $10 $15.00 oil and the Republican Congress lead by my man Newt Gingwich and his contract with America mandated a balanced budget. Clinton also raped the military budget. Don’t forget about their tech bubble that Al Boring invented. Los Angeles Bail Bonds & Legal Advice
The Fed has used over half of its available bullets.. and we’re nowhere near the end of this crisis. Las Vegas Attorneys
Just get it over and done with, a recession is required to weed out the crap in the market.
The UK & US both need a hard landing. Bring it on!! San Diego Cosmetic Dentist
Mark these words, it will be much worse that the ‘73-’75 recession, it will very likely be worse than the Great Depression, but will be a depression, a real depression. A morning’s worth of true, overall. Thoughtful research will convince anyone willing to face the truth. Oakland Legal Advice
If I predict recession every year I will get it right eventually. My understanding of economics is that something either goes up or it goes down. There are 50-50 odds to guess right. Some may guess 60% right but will eventually revert back to the mean. It’s too bad this is a time when the system has been raped for every nickel and dime for the next few years. San Diego Real Estate
Houses will only fall 30% if everyone rushes for the exits. 5 years ago many markets were underpriced and it’s highly unlikely they’ll go back to that level. There’s still a lot of demand for housing and THERE ALWAYS WILL BE! Anyone predicting a 40% decline is making a prediction because he earns money by making predictions! San Diego Investment Properties
The ingrain notion that San Diego real estate always appreciates has now vanished, and that’s probably a good thing. San Diego Real Estate Property
It seems clear that housing values are headed downward at least another 15 to 25% and I am a bit stunned that anyone besides home builders, Realtors & homeowners trying to sell would assert “now is the time to buy.” San Diego Medical Research Studies
San Diego California home prices have a great deal further to fall as unemployment starts to affect prices. San Diego Hotel Rates
If now is a good time to buy, later is a good time to pay half as much. Only now is not a good time to buy. And later than later will be 1/4 as much as now. Hoodia Gordonii Diet Info