Archive for April, 2009
Administration expands housing aid plan
The Obama administration said Tuesday it is expanding its plan to stem the housing crisis by offering mortgage lenders incentives to lower borrowers’ bills on second mortgages.
U.S. expanding foreclosure prevention plan
The new measures include incentives to lenders to modify second mortgages and write down balances on first mortgages that are underwater. The Obama administration, stepping up efforts to stem foreclosures, will offer lenders and homeowners incentives to cut payments on second mortgages, write down balances on first mortgages that are underwater, and repay loans in [...]
Falling out of love with the McMansion
Downsized floor plans gain popularity, possibly reflecting a psychological shift among home buyers. Sarah Susanka isn’t quite on the verge of saying we’ve seen the last of the McMansion. Lately, though, she’s certain that membership in its fan club has dwindled, and she senses a long-awaited shift in American architectural tastes.
Price reduced on Bill Geddie's Brentwood home
‘The View’ producer has an imposing Spanish-style house with city and ocean vistas. Update: Bill Geddie, executive producer of ABC’s Emmy-winning talk show “The View,” has once again reduced the price on his Brentwood home — this time to $3,595,000.
U.S. home prices continue to drop in February
A key index shows an 18.6% decline from the same month a year ago. The Los Angeles area records a fall of 24%. There was more bleak housing news as U.S. home prices continued to fall in February, according to a widely followed index released Tuesday.
Dylan McDermott's Brentwood home for sale for $6.9 million
The four-bedroom, three-bathroom residence was previously owned by Melanie Griffith and Antonio Banderas, and Michelle Pfeiffer and David E. Kelley. One of the first houses built in Brentwood, a 1920 Spanish-style hacienda, has come back on the market at $6.9 million.
Ryland earnings fall as low-priced foreclosures hurt new-home sales
The Calabasas builder loses $75.3 million as revenue sinks 36% to $259 million in the first quarter, the company reports. Orders for the company’s homes drop 37%. The stagnant new-home market strained Calabasas-based home builder Ryland Group Inc., which on Wednesday reported a first-quarter loss of $75.3 million as revenue dropped 36% compared with the [...]
Home sale jump nearly 66 percent in L.A.
Home sales jumped 65.6 percent in the Los Angeles area in March, compared to the same period a year ago, while the median home price fell 31.9 percent, according to figures released today.
Home prices post 18.6 percent annual drop in Feb.
In another sign the housing crisis could be reaching the bottom, home prices dropped sharply in February but for the first time in 25 months the decline was not a record.
Reach out to lender if home is at risk
Seattle Times special report: With the number of home foreclosures in the Puget Sound region skyrocketing during the past two years, officials from the Obama administration on down to local banks are advising distressed homeowners to work with lenders.