Articles Tagged with ''Southern California''

Home Sales Hot, Hot, Hot in Southern California

Southern California homes sold at a faster year-over-year pace in April, as first-time buyers and investors continued to target distressed inland properties, according to information from MDA DataQuick. April's jump in home sales marks the 10th consecutive month of increasing home sales in Southern California. A total of 20,514 new and resale houses and condos closed in the six-county Southland in April. That's up 5.2% from 19,506 in March and up 31.4% from 15,615 a year ago, according to the real estate information service.
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Inland Foreclosure Sales Drive Calif. Housing: Report

If December's data is any indication, investors purchasing distressed properties in the inland areas within California now make up the lion's share of Southern California's real estate market, while new home sales elsewhere continued to tank and the jumbo home loan market remained in the deep freeze.
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SoCal Sees Sales Rise, as Foreclosures Make the Market

The old real estate mantra used to be location, location, location -- but a new mantra seems to be enveloping certain markets now. Instead of the tried and true, the newest axiom might best be buy foreclosures, and shun everything else. In some of the hardest-hit local housing markets across the nation, steep discounting on bank-owned real estate and distressed mortgage sales is driving strong buying activity from consumers betting that the worst of the nation's housing crisis -- at least in terms of prices -- is near some sort of end.
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In Southern California, Foreclosures Dominate

Foreclosure resales reached fifty percent of the Southern California housing market during September, a new high-water mark underscoring just how much distress there really is in the Golden State's battered and bruised Southland housing markets. According to San Diego-based MDA DataQuick, a real estate information service, the fifty percent foreclosure resale figure is up from 45.5 percent in August and 12.6 percent one year earlier.
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'Fire Sales' Boost Southern California Home Sales

First, the good news: The number of Southern California homes sold last month edged up to its highest level in more than a year, as bargain hunters swept up foreclosure properties in affordable neighborhoods. A total of 20,329 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in California last month -- up 16.7 percent from the previous month, and 13.8 percent one year ago, according to San Diego-based MDA DataQuick.
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Mortgage REIT Insider: Agency REITs on the Rebound

On the M&A front, commercial mREIT CapitalSource [stock CSE][/stock] snagged struggling Fremont General’s 22 Southern California bank branches, a move investors initially cheered. Nonetheless, analysts still questioned whether the new access to liquidity would trump long-standing credit quality concerns at CapitalSource.
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Southern California's Housing Market Still Frozen: Report

Southern California's housing market, stuck in the deep freeze most of winter, has yet to thaw out as spring arrives. According to data released Tuesday by real estate data firm DataQuick Information Systems, the seasonal boost in sales between February and March was less than half its normal level -- and a record low to boot. The median sales price in SoCal also took another record nose dive during March, as well.
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California Home Sales Slowest in Two Decades; Prices Keep Falling

Housing markets in both southern and northern California reached 20-year lows in January as sales fell to new lows amid a crisis that, for now, seems to have no end in sight. Southern California home sales dipped below 10,000 transactions for the first time in more than 20 years, while Bay Area home sales plunged below 4,000 transactions for the first time in over two decades, real estate information service DataQuick Information Systems reported earlier this week.
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