San Diego Home Prices Continue to Improve

Today's mortgage applications report shows a surprising 7% drop. If Uncle Sam has substantially already bought the lower end of the market and now the upper parts of the sector are only selling again because prices are falling, it would seem Case Shiller could give a false picture as to rising prices for a considerable time yet, as the upper end property is added to the mix. http://sites.google.com/site/evernewecon/home/rea…
— September 30, 2009 3:49 p.m.

SD Home Values Improve Slightly, Still Down 42% from Peak

?: http://www.cnbc.com/id/15840232?video=1274847616&… Lawler Econ & Hsg Consulting: foreclosures: will pick up "100% certain" http://finance.yahoo.com/news/Home-sales-fall-aft… Zibel, AP, 9/24/09 (unemploymt, fclosures)"there will be plenty of more pain for higher-priced properties," wrote J.Shapiro, chief U.S. economist with MFR http://www.benzinga.com/eric-mancini/2009/9/10/me… Meredith Whitney Stated US Home Prices to Decline another 25% (UMM, DMM) Benzinga - Sep 10, 2009 http://finance.yahoo.com/news/Home-sales-drop-27-… R.E. Recovery Obstacle: So Many Houses http://online.wsj.com/article/SB12537455237883561… Nearly 7 MM hsg units will enter fclosure.... 1.35 years'worth of inventory. Y Be a Nation of MTGE Slaves? http://online.wsj.com/article/SB12333654147423554… Households...fclosed today are the buyers tomrw, given chance to recover. Modificn not only ineffective, is evil. Coercing borrowers... (Ramsey Su) 9/25/2009 Diana Ollick, CNBC http://www.cnbc.com/id/15840232?video=1275600154&… Weak in view of last chance, tax credit. <$250K U.S.has purchased stablzn. 9/23/09 WSJ, A10 Simon, Hagerty DELAYED FORECLOSURES STALK Ivy Zelman...believes three million to four million foreclosed homes will be put up for sale in the next few years...." "As if July, mortgage companies hadn't begun the foreclosure process on 1.2 million loans that were at least 9 days past due....An additional 1.5 million were somewhere in the foreclosure process, though the lender hadn't yet acquired. Figures don't include home-equity loans and other second mortgages. http://www.bloomberg.com/apps/news?pid=20601068&s… "Banks...reluctant to buy mtge-backed securities til they know market can function w/o Fed:Lou Crandall, chief economist, Wrightson ICAP. DECISION ON ENDING HOUSING PROP CAN WAIT, WSJ, 9/21 MARK GONGLOFF http://www.bloomberg.com/apps/news?pid=20601068&s… 9/21 (Bloomberg) -- The recovering hsg mkt may be heading for relapse as Obama and Bernanke consider ending support for the source of the global financial crisis. 9/18/09 Peter Eavis, WSJ More than 1/2 of U.S. residential mtgs are being made by just 3 large banks.... ...Hsg remains on govt life support.Treasury-backed entities are guaranteeing about 85% of new mtgs, while the Fed buys 80% of the securities into which these taxpayer-backed mtgs are packaged.... Wells's chief executive, John Stumpf, recently said: "We're not putting on 30-year [fixed-rate] mortgages at these rates." http://online.wsj.com/article/SB12457081765253867… A house that sold for $600K during the boom and $400,000 in foreclosure will be recorded by the NAR as a $400K sale, lifting the national median but suggesting no real improvement in housing." Mark Gongloff, WSJ, 6/23/09
— September 26, 2009 8:53 p.m.