Housing Bubble News

Now may be the time to go ahead and sell your timeshare . If you are not using your timeshare it will quickly become an unused luxury you’d be better off without. Having said that, if you want to keep your timeshare but are falling behind on the loan payments, try to work with the lending institution that made you the loan before it is in danger of foreclosure. Your loan is one that is considered “secured” with the timeshare deed – and is worth salvaging from the loan writers’ perspective. Read Full Story

Posted by Jim Minkey on October 21st, 2008 Since September 15, when Lehman went belly up and AIG got bailed out and the stock market started it’s decent, there have been 15 properties sell in Foster City. I personally know of 4 properties in Belmont and San Carlos that had multiple offers and went over asking in the last two weeks. We’ll see how Foster City does with these recent sales. If all of these homes are selling now, in these circumstances, and some are even getting overbids that certainly would argue against any 25% reductions in values around here. We’ll see. I saw ... Read Full Story

Power Outages Plague Oahu ; Airport Faces Problems Many residents on Oahu felt the earthquake off the Big Island on Sunday. The biggest problem was a power outage. The outage affected the entire island shortly after the earthquake. Many areas were still without power 11p.m. Hawaiian Electric Co. reported that about 147,000 customers out of 291,000 had power restored. The generators went off line after the quake because of the way the system is set up, according to HECO spokesman Jose Dizon. The Honolulu International Airport got its power back at about 6 p.m. Airport officials are working on getting the main airport generator ... Read Full Story

Fully half of all existing homes sold in the Bay Area in December were foreclosures unloaded by banks at fire-sale prices. Those sales sent median prices tumbling to new lows and attracted droves of buyers, according to a real estate report released Wednesday. “If you are OK with a little bit of work or a Class-B neighborhood rather than Class-A, you can get a smoking deal,” said Stephen Bloom, a Realtor with Lawton Associates in Berkeley. “The banks understand if they want to move these things, they have to be quite aggressive on pricing. They’re not fooling around anymore. They want to get them ... Read Full Story

(headline shamelessly stolen from a clever and delightfully smartass poster on the pressdemocrat comments website) "Cut-rate foreclosed homes being unloaded by banks wreaked havoc on the Bay Area's median price in July, sending it down nearly 30 percent to a level not seen in more than four years." A third of all existing homes sold in the nine-county region in July were foreclosed properties. ~ DataQuick '"There is deep discounting in inland markets that have been slammed by foreclosures," said Andrew LePage, an MDA DataQuick analyst." " The biggest percentage of foreclosure sales was in Solano County, where two-thirds of all resold homes were ... Read Full Story