Atlanta Journal-Constitution - "Appraisers struggle to keep up with falling values" (4-5-09)

"Even though sales have tanked, Squier and Fries are still working long hours. They’re appraising homes for would-be borrowers who want to refinance and for financial institutions and government agencies selling foreclosed properties. But the job is getting much harder, appraisers say. They say nervous lenders are getting much stricter about how appraisers estimate property values, even as the slow pace of real estate sales shrinks the amount of available data."

The Washington Post - "Aid to Borrowers Not Preventing Rising Delinquency" (4-5-09)

"Mortgage lenders have boosted their foreclosure-prevention efforts, but homeowners nonetheless are increasingly falling into delinquency even after receiving help on their loans, according to a government report issued yesterday."

The Desert Sun - "Experts brace for new wave of foreclosures" (4-5-09)

"Rampant unemployment also means many formerly-stellar mortgage holders can no longer qualify to borrow any money, said Bruce Norris, founder of the Norris Group in Riverside. He told the North County Times that the current unemployment rate is almost 12 percent in the Riverside-San Bernardino county area. How many houses will tumble into foreclosure in the coming months is uncertain but the potential economic disruption is great, said Sorenson, who is being retained by the county to lead a series of classes for owners seeking to avoiding foreclosure."

The Market Oracle - "U.S. Real Estate Ownership and Investing Dangerous Myths" (4-5-09)

"The 4.7% increase is a dubious figure, as the Census Bureau admits this statistic has a margin of error of 18.3%. In effect, the numbers could be up 23% or down 13.6%, it's impossible to say. Even if new homes were easier to sell last month, one month doesn't make a trend. New home sales have plunged at a frightening rate, as buyers are incentivized to purchase much cheaper existing homes, especially those in foreclosure. History indicates new homes will bottom first, relatively early in the cycle. This doesn't mean prices have stopped falling, as the U.S. has more than 12 months inventory of unsold residences, a 36 year high. In fact, in my neighborhood builders are still constructing condos even with so many units unsold because they have already secured the loan. Whether they repay it or not is another question"