Tracy Press - "That sinking feeling" (5-12-07)

"The number of houses on the market in Tracy and Mountain House is still climbing, while prices either remain flat or have dropped since the beginning of the year. The latest numbers from the Central Valley Association of Realtors show 930 houses for sale in Tracy, Banta and Mountain House as of the end of April, though only 249 houses actually sold during the first four months of 2007."

The Union Tribune - "Subprime lender in S.D. sees big losses" (5-12-07)

"Troubled subprime mort-gage originator Accredited Home Lenders said yesterday that it expects 'significant losses' during its first quarter and that it has slashed 1,300 jobs nationwide so far this year. The San Diego company, which specializes in loans to borrowers with poor credit, revealed the cutbacks and other information in a filing late yesterday with federal securities regulators."

Ventura County Star - "Auction process lures homeowner hopefuls to bid" (5-12-07)

"The lure of finding a great deal draws people to home foreclosure auctions, but there is no guarantee. Still, plenty of house-hunters turned out last weekend to tour area homes that will be sold to the highest bidders on May 19 at the Los Angeles Convention Center. Some dream the event will present a chance for them to own a home in Ventura County, where the median price for new and existing homes and condominiums was $566,750 in March. Others are looking for investment properties at a steal."

WCAX - "Vermont Housing Market in Deep Freeze?" (5-12-07)

"The downturn in the housing market in Vermont has not been as dramatic as other parts of the country. Experts say it's not a seller's market anymore, but it's not buyer's market either. 'It's what I call a stable market. So, you're not seeing anything appreciating, but we're not seeing the big dips -- we're not seeing people having to drop 25,000, 50,000,' said Geri Reilly, a realtor from the Burlington area."

The Union Tribune - "S.D. homes most overpriced" (5-12-07)

"San Diego County's high housing prices are no surprise to residents, but now Forbes.com has named the region as the nation's most overpriced real estate market in a ranking of the country's 40 largest metro areas. 'Had the weather been included as a statistical measurement, there's no doubt that San Diego would have avoided our list of the top 10 most overpriced cities – but we didn't factor in sunshine,' report author Matt Woolsey said."

ABC7 - "Hands Off: Allstate Bails On Golden State" (5-12-07)

"Allstate, California's third-largest home insurer, is backing away from writing homeowners policies. Allstate claims the combination of high housing costs and all-too-frequent natural disasters is just too much for it to handle anymore. The very big insurance company is telling state homeowners to go pound sand and some believe it's all part of a very calculated bluff."

Orange County Register - "California new home sales down 37 percent in March" (5-12-07)

"Pending sales of new homes in California fell by 3.7 percent from February to March, and were down 37 percent on an annual basis, a new report from Hanley Wood Market Intelligence of Costa Mesa shows. Statewide, buyers agreed to purchase 5,775 new houses, condos, townhomes and 'plexes,' such as duplexes or triplexes, the real estate research firm reported. That compares to just fewer than 6,000 new home contracts signed this February and 9,160 in March 2006, Hanley Wood said."