Mortgage Market Updates

	Foreclosure are needed to help real estate, says economist
	Foreclosures are a necessary ingredient of a recovering real estate market, according to the chief economist of the California Association of Realtors, who spoke at a conference of Contra Costa County Realtors held in Walnut Creek.

	Got a Countrywide mortgage?
	California is among eleven states that are part of a lawsuit settlement that requires Countrywide Financial to help modify home loans of borrowers who are having trouble keeping up with their mortgage payments, according to an Associated Press story. The plan calls for Countrywide to reduce interest rates in some cases and lower the principal that is [...]

	Can bike trails help sell a house?
	To help show the two-wheeler appeal of a neighborhood, some real estate agents are giving bike tours to potential buyers , according to a Seattle Post-Intelligencer story. Would a bike-friendly be a selling point for you when it comes to buying a house? With gas prices high, bicycles flying out of stores and a buyer’s market for houses, several [...]

	Foreclosure follies ahead?
	A new state law intended to help people who are in danger of losing their homes to foreclosure could mask what’s really going on with foreclosures, according to a Los Angeles Times blog post Prepare for headlines along this line: “Huge drop in L.A. foreclosure filings in September.” Behind those upcoming headlines: a new state law requiring lenders to [...]

	Luxury condos come to landmark Oakland building
	So much for entry-level condo construction. The Cathedral Building condos offer something entirely different by combining luxury and history in a landmark building, according to my story in today’s paper. What do you think? Is city living in a high-end condo in a beautiful building appealing to you? A little bit of Manhattan’s Park Avenue has arrived [...]

	Three Bay Area cities in nation’s top 10 for priciest housing
	Is it any surprise? San Francisco, San Mateo and Palo Alto are among the most expensive cities in the nation when it comes to housing values, according to an Associated Press story. Californians rave about year-round sunshine, temperate climate and easy access to surfing, snowboarding and everything in between. But when it comes to getting the most [...]

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