A Growing Black Cloud Sitting Behind The Mountain

The LA Daily News reports from California. "Desperate homeowners in the northeast San Fernando Valley got a potential reprieve on foreclosures Wednesday when the Los Angeles City Council unanimously approved a $1 million program it hopes will lead banks to lower mortgages to current market values....
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The Nation's Unprecedented Run-Up

The Chicago Tribune reports from Illinois. "For consumers, this is a push-pull moment: Bombarded with contradictory opinions and data about the housing market, it's difficult to gauge if we're 'there' yet -- whether real estate's free-fall is ending or whether it has a lot further to slide. 'People...
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Enough Is Enough In California

The Lake County News reports from California. "The loss of homes to foreclosure across the United States, California and Lake County is showing no signs of slowing, and local Realtors are warning of another wave of foreclosed homes that is about to come onto the market. Anita McKee, president of...
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Something Strange Was Going On

It's Friday desk clearing time for this blogger. "With summer approaching, San Francisco real estate agents say the housing market is warming up. It’s not a seller’s market, though. The median home price in San Francisco was $617,000 in March, an 18.3 percent drop from the same month last year,...
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It Went Far, It Went Fast, Then It Stopped

The Bozeman Daily Chronicle reports from Montana. "Yellowstone Club attorneys grilled a Credit Suisse officer Tuesday about why the international lending group didn’t unearth financial vulnerabilities before facilitating a $375-million loan with the resort. In addition to the Yellowstone Club deal,...
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Those Days Of Easy Money Are Barely A Memory

The Denver Post reports from Colorado. "At first, it looked as if David Fedeli might catch a break. Although his southeast Aurora home was listed among the 237 foreclosure filings in that part of town in the first quarter of 2009, he and his wife weathered the process in order to renegotiate a...
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A Loss Leader For California

The Union reports from California. "Balloons and 'open house' signs dotted Nevada County neighborhoods over the weekend, as selective sellers hunted for bargains and looked to take advantage of low interest rates.The county’s March median of $360,000 was a drop of more than 13 percent from the year...
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The Damage Is Already Done In Florida

The New York Times reports on Florida. "While prices have declined, they have not dropped off a cliff in South Beach because many of the newer developments were completed, and sold, before the market shifted in 2006. But South Beach has not entirely escaped the wave of foreclosures and short sales...
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