Dave Thurman's Real Estate Blog

Wow! Look what I found on the CAR (California Association of Realtors) website regarding foreclosures and short sales. Also, check out the info and progress of the statewide MLS (Multiple Listing Service).

California:

Press Enterprise: Inland foreclosure pressure eases; short sales rise
By Leslie Berkman
2/11/2010
In January, combined filings for defaults, trustee sales, and bank repossessions declined more than 24 percent in the Riverside and San Bernardino counties region. It was led by a nearly 50 percent decline in notices of default. Also, from December to January the amount of all foreclosure-related filings declined almost 13 percent.

National:

Los Angeles Times: U.S. aims to stop backing mortgages
By Walter Hamilton and Jim Puzzanghera
2/11/2010
The Federal Reserve plans next month to end a $1.25-trillion mortgage-bond-purchase program that has helped keep mortgage interest rates near a record-low 5 percent. 

Inman: ZipRealty: Fewer sellers slash prices
2/11/2010
Sellers reduced the asking price on 40.4 percent of available homes in January, down from 44.8 percent in December, to an average discount of $21,925, a rate of 6.54 percent lower than the month before, according to ZipRealty. The report covers 27 of 36 U.S. metropolitan areas in which the company operates.