NAR - "Economic Slump Weakens Pending Home Sales" (1-6-08)

"The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in November, fell 4.0 percent to 82.3 from a downwardly revised reading of 85.7 in October, and is 5.3 percent below November 2007 when it was 86.9. The current index is the lowest since the series began in 2001"

CNN - "Your house can make you sick" (1-6-08)

"Banishing toxins from your home isn't an exciting improvement, but it's a crucial one, since many states counsel home buyers to do environmental checks before closing on a home. Below you'll find five of the most dangerous and common toxins to watch for, along with the most wallet-friendly ways to nip them in the bud."

Bloomberg - "Ameriprise Clients Left in Lurch Funding Paris Hilton Film Flop" (1-6-08)

"Christopher Coulther offered his clients a deal that was hard to resist. Promising a 100 percent return on Costa Rican real estate, he enticed 98 people to invest almost $12 million. Unknown to customers, Ameriprise, the largest U.S. financial planning company, hadn’t approved the offer, even though Coulther had asked for the firm’s blessing, according to a lawsuit investors filed after they lost money. Coulther still peddled the venture to customers, some of whom dipped into retirement savings.His alleged sin, marketing an investment his company hadn’t authorized, is known as selling away. It’s the second most frequently cited reason for disciplining brokers and advisers, according to a 2007 American Bar Association task force report."

Bloomberg - "Metro-Area Foreclosure Sales Tripled in First 10 Months of 2008" (1-6-08)

"Foreclosure sales in the 25 largest U.S. metropolitan areas almost tripled in the first 10 months of last year as rising unemployment and falling home values made it tougher for homeowners to sell or refinance their mortgages. Motivated sales, which include foreclosure auctions and banks selling homes taken over for non-payment, increased 193 percent from January to October 2008 from a year earlier, New York-based real estate data company Radar Logic Inc. said today in a report. Conventional sales rose 6 percent in that period."

Bloomberg - "Banks, Homebuilders May Convert Losses Into Cash With Tax Break" (1-6-08)

"Investment banks, homebuilders and manufacturers who failed to win passage of a tax break in last year’s stimulus that would convert losses into cash have persuaded President-elect Barack Obama to back their cause. A provision in a fiscal stimulus measure being crafted by Obama and congressional leaders would let businesses use operating losses in 2008 and 2009 to claim a refund of taxes paid in the previous five years, according to transition officials and congressional aides familiar with the talks."

Orange County Register - "Quake could balloon Calif. foreclosure woes" (1-6-08)

"A new insurance risk report on natural disasters by insurance Aon/Benfeld suggests that a large earthquake could severely rattle California’s already damaged housing market"

Orange County Register - "Forecaster Watts eyes slow recovery for pricier O.C. homes" (1-6-08)

"The 'bottom' of real estate will be in phases. I expect we will firm up the prices below $500,000 before the end of 2009. However, prices above $500,000 will still not see a bottom in 2009."

Orange County Register - "Local apartment rents expect to fall" (1-6-08)

"It may take landlords awhile to catch on, but rising vacancies should result in lower apartment rents in 2009, a local Grubb & Ellis Co. manager says. Grubb & Ellis, a Santa Ana-based national commercial brokerage, issued its 2009 outlook saying that Orange County is the third-best multi-family market to invest in out of 56 U.S. apartment markets."