Monthly Archives: December 2008

By LOUISE STORY Published: December 26, 2008 New York Times After years of renting makeshift quarters, Seabreeze Church finally bought a permanent home in 2004 — a five-acre former tennis club in a beachside Southern California town.The price was high and … Continue reading →

By Broderick Perkins December 26, 2008  Home loan modifications are designed to save homeownership, but they’ve also created another mortgage maze pitted with “buyer bewares.” Both government-sanctioned counseling agencies and local community service agencies concede they have been swamped by … Continue reading →

By Eve Mitchell, STAFF WRITER Posted: 12/23/2008 04:06:31 PM PST   It has got even harder for low- and moderate-income first-time home buyers to find an affordable loan, thanks to the state’s budget problems. The California Housing Finance Agency has temporarily … Continue reading →

Businessweek: Prashant Gopal  Until now, the nation’s most serious home price declines have been in low-cost markets that were dominated by subprime mortgages, and in overbuilt markets such as Florida, California, and Las Vegas, where residential values are sliding fast … Continue reading →

The Los Angeles area topped Fortune magazine’s list of the nation’s 10 worst real markets for 2009.  Los Angeles-area home values, which had a median price of $375,340 in 2008, are projected to drop by 24.9 percent in 2009 and … Continue reading →