Pasadena Real Estate Blog

http://www.latimes.com/news/printedition/front/la-fi-homes17-2008jun17,0,7677060.story
From the Los Angeles Times
The financial burden of longer commutes makes homes in outlying areas that are already reeling even less attractive.
By Roger Vincent
Los Angeles Times Staff Writer
June 17, 2008
Rising gas prices may be the latest ailment afflicting the housing market, as figures released Monday showed Southern California home prices plunging 27% in May from […]

The Associated Press
Southern California homebuyers stepped off the sidelines in April, snatching up foreclosures and homes priced under $500,000 at a rate that was 22 percent higher than in March but down 19 percent from April 2007 and the lowest level since 1995, according to DataQuick Information Services.
Keep this in mind…
•  The median home price […]

San Francisco Chronicle 
In the past week, jumbo conforming loans have become almost as affordable as standard conforming loans thanks to higher loan limits and a drop in bank interest rates. That’s good news for high-cost markets and homeowners with equity in their homes who may be able to refinance to a lower-cost standard conforming rate. […]

January 26, 2008 - Congressional leaders and the White House today reached an agreement to increase conforming loan limits as part of a larger economic stimulus package. Raising the conforming loan limits to more accurately reflect the cost of housing in California and other high-costs areas of the nation has long been an objective of […]