Monday, May 19, 2008

The Press Democrat - "Homes sales up for first time since 2005" (5-17-08)

"In a sign Sonoma County's unsettled housing market may be slowly starting to stabilize, home sales rose in April for the first annual increase in more than two years."

The San Diego Union Tribune - "When lenders need menders" (5-17-08)

"When the housing slump cost him his job as a home-building executive, Jay Kerr turned to the burgeoning foreclosure market to jump-start his stalled career. The former San Diego division president of Centex Homes has made a place for himself in an expanding niche: repairing damaged foreclosure homes for the lenders who have reclaimed them."

The Press Enterprise - "Two counties to lower property taxes on homes worth less than sale price" (5-17-08)

"Those who bought Inland Southern California houses at the top of the market and have watched their property values plummet can expect lower property taxes this year, say assessors for Riverside and San Bernardino counties. Starting this month, the assessors' staffs will review 381,000 residential properties to determine if their assessed values should be lowered. They are using new computer software for the daunting task, which must be accomplished by the end of June, when the assessment roll is updated."

Orange County Register - "Mortgage-market hogs of tomorrow" (5-17-08)

"Yesterday’s big dog was Countrywide Financial, but that company is about to be swallowed up by Bank of America, and if that deal falls through it could face a worse fate. In the subprime space, all of Orange County’s top players are gone. In a series of writings, I plan to spotlight companies best poised to grab market share in home lending after things settle. These companies may even change how Americans shop for loans and the types of loans they get."

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