Articles Tagged with ''Los Angeles''

Home Sellers Cut $27.1 Billion off Listing Prices

Sellers slashed prices for 24.6% of all homes listed in the US market as of July 1, 2009, totaling $27.1bn in reductions during their listing life, but some troubled markets could be finding their feet, according to a monthly report by Trulia, a real estate listing service. On average, sellers cut price tags by 10.4% on homes, only a small decline from 10.6% from the previous month.
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Carlton Group to Auction $47m of Distressed Loans

Distressed assets are moving as the extent of the real estate crisis unwinds and investors see opportunity in reduced prices -- and the trend is not isolated to residential properties. The Los Angeles office of the Carlton Group will auction a portfolio of sub- and nonperforming commercial real estate, condominium and land development loans totaling $47m on behalf on an undisclosed financial institution based on the west coast.
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In SoCal, a Pulse for Higher-End Homes

Thump, thump. Thump, thump. Listen closely, and you just might hear a faint heartbeat in the jumbo mortgage market in Southern California, almost two years after the market for higher-end homes lost its pulse amid the implosion of the non-conforming mortgage market.
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Housing Solutions for Those Hardest Hit

Nearly 1,000 struggling homeowners braved 95 degree temperatures today to attend a economic assistance event held at the Dallas Convention Center. The National Urban League's (NUL) 2009 Economic Empowerment Tour stopped in the city, before heading next to Los Angeles and then Washington DC, in an attempt to push those facing economic hardships into a more financially viable situation.
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Capmark Nursing Homes Default, US Sues

The latest effort by US officials to crack down on costly mortgage fraud culminated in a lawsuit Tuesday after two federally-guaranteed mortgage defaults cost the government almost $26m. The US Justice Department filed suit against California-based mortgage lender Capmark Finance, seeking treble damages and penalties. The charges, filed in the US District Court in Los Angeles, alleges Capmark made false statements on applications for federal mortgage insurance covering residential nursing homes.
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Price Slashed on 23.6% of Listed Homes

Nearly one in four US homes for sale today have had at least one price reduction, as sellers come to grips with the reality of a weakening economy and a housing market still groping along toward bottom. Total reductions currently mount $27bn dollars, said Truila.com today.
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Spring Selling Pushes Housing Strength

The prices of homes on the market are climbing, as inventory levels are falling, offering hopes of a market on its way to recovery, according to recent housing reports. The prices of properties listed for sale rose in 22 of 26 major markets during April, according to the Real-Time Housing Report, published by Altos Research and Real IQ. The Altos 10-City Composite Price Index increased by 2.2% during April and 3.3% during the most recent three month period, which Stephen Bedikian, partner and research director for Real IQ, contributes largely to the "powerful effect of seasonality."
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Home Sales Springing

Spring buying season typically starts in February, and the resulting increase in demand traditionally causes prices to strengthen, and that's exactly what happened this February as transaction counts increased month-over-month in 22 of the nation's 25 metropolitan statistical areas (MSAs) tracked by Radar Logic. Home prices also improved in nine MSAs, compared to just six MSAs in February 2008.
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Home Prices Down 18.5% in 2008

Existing single-family home prices in 20 major metropolitan statistical areas (MSAs) across the country were down an average 18.5 percent in December 2008 from one year earlier, according to the 20-city composite index released Tuesday by Standard & Poor's. The S&P/Case-Shiller Home Price Index saw another series of record declines, including a fourth-quarter decline of 18.2 percent from the previous year period, the largest quarterly figure "in the series' 21-year history," according to S&P analysts.
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Listing Prices Down 2.1 Percent in January

The asking prices of homes listed for sale continued to fall in January across most U.S. markets, while listed inventory continued to fall as well, according to a study released Monday morning by Altos Research and market analysis firm Real IQ.
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