What caused the financial meltdown? Here’s the official answer (sort of…)

confused-monkeyThe last Congress created the Financial Crisis Inquiry Commission (www.fcic.gov) to answer that question and yesterday they gave the official answer in a 545 page report. So who’s to blame? Read the rest of this article »

Filed under article topic: The Economy/Economics,The Fed & Housing policy
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Watched a rocket launch from Vandenberg today…

delta_rocket-112x150…and it was disappointing. Last night on the news, and this morning in the LA Times, we heard that the Air Force was launching the biggest rocket ever launched (a Delta IV heavy lift) from the West coast, and in a spur of the moment I convinced Leslie to skip work today and run with me up to Vandenberg to watch it blast off.

Having made a special week long trip in November to Florida to see a shuttle launch (no go – Discovery is still on the ground!), I thought maybe this might have the same awesome display of noise, power and deep rumble. Nope.

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Recent REO (lender owned) commercial properties

IMAG0026-150x71Here is a partial list of commercial properties that have become REO (Real Estate Owned) properties within the past couple of months or so. Each transaction is different, but ultimately the lender will want to sell the asset. If you are looking to buy commercial property, either as an investor or owner/user, call me.  To see other new REO properties, click and read the rest of this article.

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30% down payments the coming new standard?

homesavingsA battle is raging over arcane regulatory rules that may have significant impact on how much down payment a lender will require in the future. Wells Fargo has just¬† suggested to regulators that home buyers come in with a 30% down payment. What’s this all about?

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Filed under article topic: Mortgages/Interest rates,The Fed & Housing policy
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Ventura real estate activity for December from the MLS

chart-iconHere you’ll find quarterly and monthly real estate activity in chart form for homes sold in Ventura, Oxnard and Camarillo and also the data particulars for each city. All data is taken from the Ventura MLS, Oxnard MLS and Camarillo MLS.

Sold prices – Single family homes in Ventura, Oxnard, Camarillo:

Note how the quarterly trend lines parallel each other for the three cities since 2007. Sold prices for homes are going up in Camarillo and down in Ventura while Oxnard remains steady. The monthly chart shows the volatility of sold prices in Camarillo and a downward price trend for Ventura.

Sold prices – Condos in Ventura, Oxnard, Camarillo:

Fourth quarter shows a slight trending up for all three cities for sold prices for condos.

Numbers soldSingle family homes in Ventura, Oxnard, Camarillo:

Quarterly – Oxnard shows the strongest decline in number of homes sold since the last quarter of 2008. Month to month shows Camarillo spiking up in number of homes sold.

Detailed statistics for single family homes sold in:

Detailed statistics for condos sold in:

Detailed statistics for pendings (in escrow) – single family homes and condos sold in:

Comparing fourth quarter for number of homes in escrow to past years shows Ventura is down a bit from 2008 and 2009; Oxnard is substantially down and Camarillo is markedly down from 2009 but matching 2008.

Filed under article topic: 2010 Pendings,2010 Solds,Homes sold,Housing Market,Market statistics/Trends,Pending home sales
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