Pasadena Real Estate Blog

Recent economic developments indicate that California may be the first state to find the bottom, based on the increase in sales volume in the previous three months. In June, home sales rose for the third consecutive month, following a 30-month decline. Although approximately 40 percent of the transactions were foreclosure sales, the increase is allowing […]

LOS ANGELES (July 25) – Home sales increased 17.5 percent in June in California compared with the same period a year ago, while the median price of an existing home fell 37.7 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.
“Statewide home sales remained above the 400,000 level for the second month in a row, […]

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 […]

bloomberg.com
Federal Reserve Chairman Ben Bernanke Tuesday signaled he is finished cutting interest rates for now and has turned his attention to concerns about inflation in the world’s foreign exchange markets in the wake of the U.S. dollar’s 16 percent decline against the Euro over the past year. Speaking to the International Monetary Conference, Bernanke stated […]

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 […]