Like an ever-growing number of homeowners these days, Robert Harrell found himself falling behind on his California mortgage payments.
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“Folks, take advantage of the market today.”
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Sales of single-family homes in California will slow by 14 percent on an annual basis this year, while the state’s median home price will rise just short of 2 percent, a real estate trade group said.
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Orange County is the sixth riskiest major housing market in the nation.
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The days of oceanfront property as a good investment might be a thing of the past.
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News about the California housing market downturn and the market’s future is of little relief to struggling sellers… but may bring encouragement to bargain-hunting home buyers.
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The declining housing and home loan markets continued in Inland Southern California in May, particularly in Riverside County, the Press-Enterprise reports.
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David Ragland has bought land and built houses for three different national home builders in Sacramento for 20 years. Now he’s readying for a fourth, the newest corporate home builder to set its sights on California’s capital region.
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Hindsight, they say, is 20-20.
California mortgage holders are starting to see this. Up close.
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It was 2004, and the real estate market was on fire.
Down in the Southern California housing market, a hub for home loan lenders specializing in loans to people with weak, or subprime, credit, brokers were making a fortune pushing risky mortgages on home buyers.
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