Articles Tagged with ''Los Angeles''

California, Illinois AGs Sue Countrywide; Shareholders Approve Merger Anyway

As shareholders gathered in Calabasas, Calif. on Wednesday for a key vote over Bank of America's proposed takeover of Countrywide Financial Corp. [stock CFC][/stock] -- eventually approving the merger by a wide margin -- two state Attorneys General said they had sued Countrywide over alleged unfair and deceptive conduct. California AG Edmund Brown and Illinois AG Lisa Madigan became the latest to pile on legal liabilities to the nation's largest lender and servicer, with separate lawsuits filed just ahead of the key shareholder vote.
Read More

Are pending home sales really negative?

We're not always contrarians here at HW, but some recent buzz surrounding yesterday's pending home sales report from the NAR has caught the eye of a few industry types that we know. In particular, the Calculated Risk blog weighs in with a suggesting that home sales are in much bigger trouble than Monday's surprisingly good reading might otherwise suggest.
Read More

A Tale of Two Housing Markets: There's REO, and Then There's Everything Else

Proving that even within a single local housing market, sales trends can be more complex than they might otherwise seem, new data is suggesting that distressed assets can move housing markets -- when prevalent enough. A monthly housing report from real estate analytics firm Radar Logic Inc., released Monday morning, found that in March of this year, so-called motivated sales -- defined as liquidity-driven sales of real-estate owned and similar transactions -- had managed to split apart more than a few local markets.
Read More

California's Prices Off 28 Percent From Peak; Housing Risk in Los Angeles Soars

As the housing crunch has rolled on, affecting nearly every state of the Union, no single state has been more battered and bruised by market conditions than California. According to a report released last week by First American CoreLogic, home prices in the Golden State have now fallen an average of 28 percent from their peak three years ago.
Read More

Price Declines Spreading to California's Luxury Home Market

Luxury home prices in Los Angeles, San Diego and San Francisco all posted modest declines in the first quarter of 2008, as banks pulled back on lending even to high net-worth households, proving that no segment of the housing market can escape the pricing corrections taking place throughout much of the state.
Read More