MSN - "Hated blogger leaves U.S., threatens lawsuits" (6-17-07)

"A failed real estate speculator who created a popular Web site touting his exploits has begun threatening to sue his critics and claims to be in hiding in Australia. Casey Serin, arguably the world's most-hated blogger, rocketed to Internet stardom after disclosing his pending foreclosures, marital strife and unwillingness to find a job. But the 24-year-old's online fame was hardly flattering: it arose from legions of readers who call themselves "haterz" and frequent his iamfacingforeclosure.com blog to ridicule his financial missteps and urge Serin to pay back up to $420,000 he is said to owe creditors."

The News-Press - "Avoid costly use, zoning assumptions when buying land" (6-17-07)

"The first three questions a real estate agent is usually asked, although not necessarily in this order, are: 1) What is the asking price? 2) What is the size? 3) What is the zoning? The first two are pretty straightforward, but look out for No. 3, because you'll probably get the right answer, but you might be asking the wrong question. Zoning is a general classification as to what a property MIGHT be used for. I can't emphasize, "might" enough, because a zoning classification does NOT automatically grant permission to use a property in a certain way. This is especially true for vacant land."

The San Diego Union Tribune - "No mortgage bailout this year, experts say" (6-17-07)

"Homeowners unable to pay monthly mortgage bills and facing foreclosure shouldn't count on help from Washington this year. Regulators and lawmakers seem to be taking a wait-and-see approach as they confront the fallout from several years of lenders making too many home loans to people with inadequate credit. It would be a mistake to overreact to a market that is already showing signs of self-correcting at a time when little evidence has emerged that the broader economy is at risk, according to regulators and some lawmakers. They also note that consumer spending remains solid, the nation's jobless rate is still low, and stock indexes have hit record highs in reaction to strong corporate profits."

The San Diego Union Tribune - "Renting good credit may become history" (6-17-07)

"The days may be numbered for dozens of Internet-based companies that promise to quickly boost FICO credit scores by 200 to 300 points. Fair Isaac Corp., the developer of the widely used FICO score, soon plans to introduce key changes designed to derail schemes that transplant high-quality credit card histories into the files of people with low FICO scores."

Recordnet.com - "Housing market takes a hit" (6-17-07)

"What do you get when you combine a huge number of interest-only and subprime mortgages with a skidding real estate market? Foreclosures, that's what. And in the case of San Joaquin County, you get the highest metropolitan foreclosure rate in the nation. No. 1."

Orange County Register - "Readers tell whether Greenspan created 'froth'" (6-17-07)

"Two years ago – June 9, 2005 – then-Fed czar Alan Greenspan gave us real estate watchers a new word to debate – "froth." As he told Congress: "Although a 'bubble' in home prices for the nation as a whole does not appear likely, there do appear to be, at a minimum, signs of froth in some local markets where home prices seem to have risen to unsustainable levels." We asked visitors to the Lansner on Real Estate blogwhat they thought of Greenspan's "froth" call. Here are the results from 318 votes cast in what's an unscientific sample of public sentiment:"

Los Angeles Times - "It's the new normal" (6-17-07)

"ON a recent Sunday, Bob and Jane Baker practically tiptoed across the hardwood floor of a newly refurbished Sherman Oaks home, looking a bit sheepish about bringing their Italian greyhound to the open house. They needn't have worried about Digby being an unwelcome visitor, however. Just about anything goes today, as agents vie to get potential buyers into homes for sale. 'A couple years ago, a house situated next to an alley, with 16 additions, could sell without an open house' said Keith J. Fisher, associate manager of Prudential California Realty in Sherman Oaks. 'Now, it's sitting there for half a year. Open houses can make a difference, especially for new listings.'"

Los Angeles Times - "Malibu, Encino at top of the real estate market" (6-17-07)

"As other real estate markets in Southern California plod, stagnate or worse, the Davises' Encino ZIP Code continues to march right along, enjoying annual price percentage gains in the double digits. Through the first four months of the year, single-family homes in the 91316 ZIP Code in Encino experienced an 18.2% jump in price over the same period last year when measured by cost per square foot, according to real estate tracker DataQuick Information Systems. Although most buyers focus on median sales prices, analysts say the price per square foot offers the most reliable snapshot of how a market is performing over a wide area."

Los Angeles Times - "From the Doctor, Tough Medicine For Sellers: Forget About Last Year, Lower Your Price" (6-17-07)

"Dr. Housing Bubble is a blogger with a sense of humor, and we particularly enjoyed his post this weekend titled, 'Putting Home Sellers on the Couch: The Psychology of Why Sellers Refuse to Lower Prices.' Examining sellers who are in denial and refuse to cut their prices, the Doctor observes, 'They are pining for the days of 2006 as if it were a lost high school love interest.'"