Category: California

California housing market

Proposals to Halt Foreclosure Abuse

By Mike Colpitts Six proposals calling for greater transparency by banks dealing with homeowners at risk of foreclosure are being proposed in a package of bills that make up the Homeowner Bill of Rights in California. The landmark legislation is the largest effort yet in any state to aid millions of homeowners abused by lenders.… Continue reading Proposals to Halt Foreclosure Abuse

Clean Air Produces Higher Home Prices

Housing prices get a major lift from reductions of smog and other pollutants, according to a study conducted by the National Bureau of Economic Research. After all, given the choice who wouldn’t want to live in an area with plenty of clean air to breathe each day? The study was gathered by researchers Kenneth Chay… Continue reading Clean Air Produces Higher Home Prices

Home Prices Fall Almost 5% in 2011

By Mike Colpitts Home prices fell nearly an average of 5% last year as a result of a troubled U.S. economy, decaying consumer sentiment, high unemployment and a foreclosure crisis that is running out of control, according to real estate research firm Core Logic. The company’s December Home Price Index showed an average 4.7% decline… Continue reading Home Prices Fall Almost 5% in 2011

Banks Mortgage Settlement Hangs in Jeopardy

By Kevin Chiu A proposed settlement between big money mortgage giants and U.S. states hangs in jeopardy after Delaware rejected the settlement as an unfair deal for homeowners. State Attorney General Beau Biden broke with fellow AGs rejecting the settlement. The proposed settlement between the attorney generals would dedicate $17-billion from lenders to go towards… Continue reading Banks Mortgage Settlement Hangs in Jeopardy

Real Estate Investment Concentrated in 30 Cities

By Mike Colpitts More than half of all real estate investments are concentrated in 30 major cities across the world, according to a new study. Twenty-five percent of property investments are in five metropolitan areas, including New York. The study, conducted by commercial real estate company Jones Lang LaSalle, found that major cities house most… Continue reading Real Estate Investment Concentrated in 30 Cities

Private Equity Firms Purchase Fannie Mae Foreclosures

By Kevin Chiu The bulk sale of foreclosed Fannie Mae homes to private equity firms will place foreclosures right back into the very hands of some of the banks and investors which triggered the foreclosure crisis by manipulating financial markets. Fannie Mae is inviting investors to become joint venture partners in the biggest bulk sale… Continue reading Private Equity Firms Purchase Fannie Mae Foreclosures

Home Prices Tumbled Less in 2011

By Mike Colpitts Home prices tumbled an average of 4.3% on a year-over-year basis through last November, according to real estate analytics firm CoreLogic. The company’s Home Price Index, released Monday, confirmed what other real estate research companies reported – that home prices fell less in 2011 than 2010. The Santa Ana, California based firm… Continue reading Home Prices Tumbled Less in 2011

Actor Dennis Quaid Sells Home

Actor Dennis Quaid finally sold his Pacific Palisades, California estate for $9.5-million. The Hollywood star sold the home because he’s been spending more time in Texas, where his family resides full time in between making movies. Back in 1999 when Quaid purchased the property for $1.8-million it comprised a three bedroom, three bathroom home. The… Continue reading Actor Dennis Quaid Sells Home

Selling LA Renewed for Second Season

By Kevin Chiu Selling LA, a TV show featuring luxury estates throughout the richest areas of Los Angeles has been renewed for a second season on Home and Garden Television. Real estate broker Valerie Fitzgerald, the star of the dazzling show will be joined by other members of her team as the weekly show shines… Continue reading Selling LA Renewed for Second Season