Sacramento Housing Market
The Wrong Stuff
From the Sacramento Bee:Pressured by a faltering economy and often burdened by loans they took out during the housing boom, more Sacramento-area homeowners are looking to reverse mortgages for an escape route. But many are finding the road blocked by the falling values of their homes. "A lot of them aren't qualifying now.
'It's Kind of Like Bleeding to Death'
From Bloomberg: Home prices fell in 23 U.S. metropolitan areas in March, led by Sacramento and San Diego, as rising foreclosures prolonged the housing recession.
'We'll Just Wait Until the World Turns Around'
From the Sacramento Business Journal:Sixells LLC...had planned to build 400 condos around Sacramento has been stung by slow sales, lawsuits, liens and an unusual accusation of forgery against the project manager -- and it won't survive, [developer David] Lonich s
Congresswoman "Walks Away" from Curtis Park Home; Merced Hits 50% off Peak
From Capitol Weekly (hat tip JC):As the real estate market softened in 2007, the new owner of a three-bedroom, 1,600-square-foot house in Sacramento's Curtis Park neighborhood ran into trouble.
'When you put on a super sale, people show up and buy'
From the Sacramento Bee:[W]ith 12,000-plus "For Sale" signs in the region, the market hasn't yet reached bottom, said ReMax's [Randy] Dunham. At month's end there were 12,606 homes for sale in El Dorado, Placer, Sacramento and Yolo counties, according to Sacramento-based researcher TrendGraphix.
DataQuick: Sacramento Home Sales Up YoY as Price Decline Hits New Record
From the Sacramento Bee:In Sacramento County, sales of new and existing homes totaled 1,961 in April, the highest since Sept. 2006, according to DataQuick.
"Consumer Abuse"
From the Stockton Record:The sales run for existing homes in San Joaquin County - mostly foreclosures [about 80%] - continued to pick up speed in April.
90s Recession: The Good Ol' Days?
From the Modesto Bee: During the recession of the 1990s, government in general continued to hire. Sure, the state made the cities, counties and schools bear the brunt of the hurt. Some programs were eliminated or scaled back. But Stanislaus County continued to grow in population throughout that time.
