Monday, May 21, 2007

The Union-Tribune - "Cut-rate or cut-throat?" (5-20-07)

"When it came time for José Viesca, 26, to buy a home closer to his commercial loan job in Escondido, he didn't turn to Coldwell Banker, Century 21 or any of the other traditional real estate brokerages. He turned to Redfin, a Seattle-based online brokerage whose sole San Diego agent, Erik van Joosten, works out of his Del Mar home."

Orange County Register - "High roller of home loans" (5-20-07)

"Quick Loan has been accused of predatory lending, deceptive underwriting and fraud in at least eight lawsuits. In addition, Department of Corporations records show 33 complaints against Quick Loan, most alleging unfair business practices. Most of the lawsuits were settled out of court. And state regulators have never disciplined Quick Loan."

Ventura County Star - "Home foreclosure auction draws county bidders" (5-20-07)

"Roxie Bajwa had an exciting Saturday. The Porterville resident made a trip to the Los Angeles Convention Center for an auction of foreclosed homes. She left with a new home in Port Hueneme. 'I'm excited nervous and excited,' she said just after placing the winning bid of $465,000 for the three-bedroom, two-bathroom house."

Orange County Register - "Cheaper homes seem to sell slower" (5-20-07)

"DataQuick stats show 10,661 O.C. homes of all stripes sold in the first four months of this year. That's down 21 percent from 2006 after a 21 percent year-over-year drop in 2005. That puts 2007's buying pace 22 percent behind the 1988-2007 average. This is not some small statistical sliver. We're talking about one third of an entire year here. And this year's sales pace is so sluggish that only two years – 1993 and 1995 – started any slower for homebuying in DataQuick's two decades of O.C. sales history."

Los Angeles Times - "Basking in rustic refinement" (5-20-07)

"A hunting lodge in the middle of Los Angeles seems a fanciful folly today. But in 1929, foxes, cougars and deer roamed freely in the hills of Los Feliz. At the age of 69 and widowed, Leona P. Wood commissioned this half-timbered, Norman-style hunting lodge. It took at least five years to complete."

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