San Joaquin-Stockton Housing Market
'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.
"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.
In Come the Waves: Tech Spending
From the NPD Group: The consumer technology industry, whose performance has traditionally outpaced the broader economy, is showing signs of being affected by today’s weakening economy, especially in certain cities, according to the Market Tracking Service provided by leading consumer and retail information provider Th
NAR: Sacramento is the Biggest Loser
From Bloomberg:The median price for a single-family home in the U.S. dropped 7.7 percent in the first quarter, the biggest decline in at least 29 years, as values tumbled in two-thirds of U.S.
'Epicenter of the Boom...Epicenter of the Bust'
From CNN Money:Mortgage delinquencies will continue to rise over the next six to 12 months as home prices decline and economic conditions remain difficult, according to one forecast released Monday.
Bank Bidding War Games
From CBS 13: If you're looking to buy a home in the down market you may think you're getting a deal on a foreclosure. But beware, the bank may be one step ahead of you.
Sacramento Real Estate Blog: Home Prices 41% Off Peak
The Sacramento Real Estate blog reports that Sacramento County's price per square foot was $149.84 in April, a 33.9% drop from last year. That translates into a 41% decline in 31 months.
