Monthly Archives: June 2008

California Pot Houses – a Good Deal?

Latest California real estate bargain – former pot houses, but buyer beware By Sandy Louey Sacramento Bee Article Launched: 06/29/2008 08:47:08 AM PDT   The price of the two-story, 3,800-square-foot house for sale in Elk Grove stands out even in a … Continue reading

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Countrywide Losing 7500 Jobs

CHARLOTTE, N.C. (AP) — Bank of America said Thursday it will cut about 7,500 jobs after it closes its acquisition of mortgage lender Countrywide Financial Corp. The job cuts amount to about 12.5 percent of the combined companies’ mortgage, home … Continue reading

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Mortgage Rates Up Driving Cost to Buy Up

June 27 (Bloomberg) — Rising mortgage rates are driving up the cost of buying a house even as prices fall, making property more expensive across the U.S., according to a new study by Zillow.com, an online provider of home valuations. … Continue reading

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Countrywide Still Getting Hastled

By JAMES R. HAGERTY and GLENN R. SIMPSON June 27, 2008; Page A3 More and more “Friends of Angelo” are surfacing. As the mortgage market was wobbling a year ago, Angelo Mozilo, chief executive of Countrywide Financial Corp., intervened to help the … Continue reading

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California Home Building Down 37% from Year Ago

California home construction plunged 37 percent last month compared with year ago, as the glut of foreclosed homes and languishing real estate market dissuaded developers from breaking ground on new projects.Total housing starts slumped to 7,035 from May 2007 according … Continue reading

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