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               Latest Inland Empire Housing News
11.18.2008

Federal aid available to fire victims
Inland Empire News, CA
San Bernardino, Los Angeles and Santa Barbara counties are included in the declaration. Bush’s declaration came hours after the last of the evacuees were ...
 
Home sales are up, prices down
Press-Enterprise, CA
In San Bernardino County, the median price declined to $200000 from $205000 the previous month, but fell 39.4 percent from October 2007. ...

Schwarzenegger: 'It looks like Armageddon ...
it looks like the end'
Contra Costa Times, CA
The flames have been spreading for miles near Yorba Linda and Brea, racing through dry brush toward Chino Hills and Diamond Bar.

Wildfires: Did low water pressure hinder the fight?
Los Angeles Times, CA - 2 hours ago
But in the Vista Bel Aire subdivision of Yorba Linda, situated at the top of a hill against the open brush of Chino Hills State Park, several residents said ...
Homeowners speak against builders
The Desert Sun, CA
Williams said this is the first organizational meeting in the Inland Empire, but is not the first of its kind to be held in the nation. ...

Foreclosure: Don’t Be a Statistic
Mountain News, CA
Some 700 Inland Empire residents learned about their foreclosure-avoidance options at a seminar arranged by County Supervisor Paul Biane and put on by the ...

Fannie, Freddie Launch Latest Homeowner Lifeline
Black Voice News, CA
Critics were quick to pile on the plan calling the initiative too little too late for places like “foreclosure alley”, the Inland Empire. ...

Developments : Median Price Check: What Does a $200,500 House Look Like?
WSJ

11.01.2008


Inland Empire News
California home sales jump 65 percent
BusinessWeek
In California, foreclosures have been centered in inland markets such as the region east of Los Angeles known as the Inland Empire and the state's Central ...
Local leaders explore buying up troubled mortgages
San Bernardino Sun, CA
Larson said the Inland Empire has 100000 homes in default or foreclosure - a $30 billion problem that doesn't include thousands of previous and future ...

Rebuilding region's 'ground zero'
San Bernardino Sun, CA
The national economic crisis hit the national headlines in mid-September, but for residents of the Inland Empire, the economic recession started more than a ...
 
Moreno Valley team cracks down on nuisance properties
Press-Enterprise, CA
Moreno Valley has received about $11.4 million in neighborhood foreclosure stabilization funding from the US Department of Housing and Urban Development. ...

Inland Empire economic outlook is grim
Los Angeles Times, CA
"There has been a 3500% rise in foreclosures in the Inland Empire since 2005," said Brad Kemp, director of regional research for Beacon Economics, ...

10.25.2008
 
Sales, inventory and a 'sloppy bottom'
Ventura County had a 35% increase in September housing inventory; Orange County, 27%; Riverside County, 22%, and San Bernardino and San Diego counties, 21%. ...
Los Angeles Times, CA

Home prices to dip further?
In its 2009 forecast, the California Association of Realtors calls for the median price of a home in the state to decline by 6 percent to $358,000 from the group's projection for this year of $381,000.
San Bernardino County Sun

10.13.1008

Pending Home Sales Up Sharply
Lower prices and affordable interest rates pushed up signed contracts 7.4 percent in August, NAR reports
Realtor Magazine

Home Builder KB Home Hopes Smaller Houses Fuel Big Profits
CNNMoney.com
The strategy, tested in California's battered Inland Empire and being quickly rolled out nationwide, is one of the boldest steps taken by builders as they ...

Home is where the mortgage is
Big Bear Grizzly,  USA
Inland Empire—Riverside and San Bernardino counties—have been two of the hardest hit in the foreclosure fracas. Will it get any better? ...

California Officials Try to Avoid Second Housing Hit
Wall Street Journal
"We don't want the cure to be worse than the disease," said Steve PonTell, a business owner in the vast area east of Los Angeles known as the Inland Empire. ...

10.05.2008

“THE CALIFORNIA HOUSING FIASCO”
Scoop.co.nz (press release), New Zealand
This article focuses on a 2000 lot subdivision in Desert Hills Springs, a blue collar community in the far reaches of Southern California’s Inland Empire

The political impact of California's housing meltdown
guardian.co.uk, UK
... there are more foreclosures in the San Diego area than sales. Housing estates sit half-finished on the outskirts of San Diego, in the Inland Empire area ...
 
Inland foreclosed signs attracting copper thieves
Press-Enterprise, CA
"We've been trying to get them to stop throwing those up," said San Bernardino County sheriff's Deputy Laren Leichliter, who works with real estate agents

10.01.2008

IE professors say housing stabilization plan has potential
Contra Costa Times, CA
A federal plan to send millions of dollars to the Inland Empire to help local governments buy and resell foreclosed homes could be positive for the local ...
More bad economic news for Fontana and the nation
Fontana Herald-News, CA
The number of foreclosure filings in Fontana and the rest of the Inland Empire continued to climb in August, according to a report released recently by ...

Continued Inland Empire property value decline seen
San Diego Union Tribune, United States
PMI Group analyzed labor market statistics, per capita household income, prevailing mortgage rates, foreclosure trends and other data from the second ...

09.29.2008

Option ARM loans turn mortgages into minefields
PE.com


The Associated Press
KB Home building smaller houses to lift sagging sales`
Los Angeles Times, CA 
The company is trying to attract buyers with 1230-square-foot homes selling for $200000 in the Inland Empire and other high-foreclosure areas.

Foreclosures strike children, too
As foreclosure signs multiply across the Inland region, some of its youngest residents are in need of protection
PE.com

09.26.2008

Illegal Immigration And The Mortgage Mess
VDARE.com, VA
It's no coincidence that most of the areas hardest hit by the foreclosure wave—Loudoun County, Va., California's Inland Empire, Stockton and San Joaquin ...

The Govern-ator fights to keep home values from falling:
Encourages continued loose-lending!

Governor vetoes several bills on home lending
Press-Enterprise, CA
San Bernardino County had 4211 notices of default and 2502 foreclosure sales. Schwarzenegger also signed several housing-related bills Thursday. ...

California home prices continue trend
into more affordable territory
Sales pick-up pace:

"While this is encouraging news, we don't expect to see a housing market recovery until prices stabilize and the number of distressed properties on the market declines," Brown said. "Sales gains continue to be driven by the large shares of deeply-discounted distressed sales in many parts of the state."
CAR Reports SalesIncreased 56.7 Percent; Median Home Price Fell40 ...
MarketWatch

Home prices drop to October 2005 levels
Press-Enterprise, CA
In San Bernardino County they declined 40 percent. The real estate industry expects more weak news today when the National Association of Realtors releases ...

San Bernardino County addresses home issues
Inland Valley Daily Bulletin, CA
The county Department of Community and Housing released a report Tuesday with an action plan for providing housing and expanding economic opportunities for ...

California economy in neutral, Inland Empire shifts to "R"
An economic forecast issued Wednesday keeps California in the doldrums....

09.18.2008

Foreclosure sales soar as prices plunge
Inland Empire News, CA
INLAND EMPIRE--Prices for Southern California homes being sold are their lowest in nearly five-years. Homes sold last month averaged $330000. ...

Inland home prices fall steeply as number of sales jumps
Press-Enterprise, CA
Rich Cosner, president of Prudential California Realty, which has offices in Corona, Riverside, Moreno Valley and Rancho Cucamonga, said in the past three ...

Fannie, Freddie takeover offers recovery hope: analysts
Citizen, South Africa
A vacant bank-owned house in Moreno Valley, California in late August. The US takeover of struggling mortgage giants Fannie Mae and Freddie Mac offers hope ...

San Bernardino County Home Price Plunge!
Median price now $145K beneath August 2007 price!!

San Bernardino had the biggest, down 40.3 percent to $215,000 from $360,000 in August 2007.
County's median home price at lowest level in 5½ years
San Diego Union Tribune, United States

09.17.2008

Had your home equity line frozen in Southern California?
If yes then KABC-TV wants to hear from you.

Here is the direct request email message from Alan Gitterman, KABC-TV News Producer:
"I'm trying to find someone in the Southern California area who has taken out a home equity line of credit, then had that credit frozen by the bank. If anyone has taken out a loan for a remodeling/construction project, completed part of the project, and then was forced to halt the rest of the project because the remainder of their home equity loan was frozen out, please contact us at KABC-TV."

"We'd also like to hear from anyone who has taken out a home equity line of credit to pay off bills, and are no longer able to pay them off because the loan was frozen."


If this has happened to you and you reside in Southern California, please contact Alan,
maybe you will be featured on ABC News!
--------------------------------
Alan Gitterman
News Producer
KABC-TV
500 Circle Seven Drive
Glendale, CA 91201
(818) 863-7640
email: alan.b.gitterman@abc.com
- Please tell him that IE Housing News.com sent you!

Moreno Valley story: One buyer, two cycles, three foreclosures
He sold his business, went to work as a branch manager at an auto dealership, bought a new house and, as real estate values soared, refinanced it twice, ...
Los Angeles Times, CA

Riverside County homeowner turns horse rescuer
Press-Enterprise, CA
Magdaleno said she believes the economic slowdown and the uncertainty in the real estate market combined to put these horses and others at risk. ...

Mortgage rates falling but nervous home buyers may stay on sidelines
Contra Costa Times, CA

San Bernardino to buy, level rundown apartments
Press-Enterprise, CA

09.15.2008

Inland cities scramble to be ready when HUD announces housing ...
Press-Enterprise, CA

Moreno Valley: One man's wild ride on cycles of boom and bust
Los Angeles Times, CA - 2 hours ago
... red-hot Los Angeles and Orange County housing markets, he joined the caravans of first-time home buyers rushing east into the so-called Inland Empire. ...

Fraud monsters
San Bernardino Sun, CA
Over the past few years, the real-estate fraud unit of the San Bernardino County District Attorney's Office has seen a 40percent year-over-year increase in ...

Inland Empire ranked No. 5 in national foreclosure activity
San Bernardino Sun, CA

Auction houses struggle too
Business Press, CA
The home foreclosure crisis isn't solely to blame for Inland Empire Auction's current situation, Cooper said. "I think it's the overall bad economy," she ...

09.11.2008

Inland cities scramble to be ready when HUD announces housing funds allocations and guidelines
Press-Enterprise, CA

Is a foreclosure sale a valid comp? Not always.
Los Angeles Times, CA

Fannie and Freddie get a loan, taxpayers get the debt
Los Angeles Times, CA 

09.09.2008

At Inland auction houses, foreclosures add inventory to buyer's market
Press-Enterprise, CA 

Property owners seek tax relief
Inland Empire News, CA
INLAND EMPIRE--Property tax bills are going out and many homeowners will find their assessed values do not reflect the plunging real estate market. ...

'Green' commercial real estate picking up momentum in IE
Inland Valley Daily Bulletin, CA
Even in a foundering economy, the so-called "green" movement is blossoming in the Inland Empire. "(The green movement) is chugging along faster," said Mary ...

PFF Bancorp moves to settle
San Bernardino Sun, CA
As PFF kept reporting gigantic quarterly losses stemming from the Inland Empire's imploding real-estate market, stock shares plunged to penny-stock status ...

09.08.2008

DataQuick reports that the Inland Empire led Southern California last month in the number of homes sold,
up as much as 48 percent in Riverside County


'Fire sale hits some Inland neighborhoods
Inland Empire News, CA 

Inland Empire Foreclosures Spawning Empty Nest Crimes
KNBC.com, CA

Foreclosure landscaping blight: Inland Empire proposes "green lien"
Los Angeles Times, CA

Price wars in N. Fontana
San Bernardino Sun, CA

Foreclosures push Inland home sales up, median prices down
Press-Enterprise, CA

Tumbling prices trapping Inland homeowners; values have declined to late 2003 levels
Press-Enterprise, CA

Tough Times for this Inland Empire Real Estate Agent
In the past, Juana Recinos sold up to 15 homes a year. Now, she can't sell one
Nervous-time for realty agent
San Bernardino Sun, CA

Inland Empire Homeowners Amongst the Most Underwater in the Country!
In five more California areas -- the Inland Empire (Riverside-San Bernardino), Bakersfield, Yuba City, El Centro and Madera -- the percentages were more than 80 percent.
One Third of New Owners Owe More Than House Is Worth (Update1)
Bloomberg

Inland Empire real estate trends: Interest rates likely to rise as prices fall
Press-Enterprise, CA

Southern California home sales jump 13.8% in July
Los Angeles Times, CA

Low new-home prices a good reason to skip bidding wars,
repair costs
"That's when I started realizing there was not much of a (cost) difference
between new and (a foreclosure)," Jose said.

Stockton Record, CA

 

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