SAN DIEGO (Reuters) - As though Southern California’s fine weather and beaches weren’t attractive enough, a San Diego developer desperate to clear inventory is offering potential home buyers a buy-one-get-one-free scheme.
In a market beset with foreclosures and plummeting sales following the mortgage meltdown in 2007, Michael Crews Development will give away a row home […]

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Foreclosures have flooded North County’s housing market, and indicators show that the waters will be rising, not receding through the rest of the year.
Just as April’s sales data was the best in months and provided some encouragement for real estate agents, the month’s huge foreclosure numbers offered more ammunition to housing market bears who see […]

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WASHINGTON - California Rep. Laura Richardson claimed Friday that her Sacramento, Calif., home was sold into foreclosure without her knowledge and contrary to an agreement with her lender.
She said she is like any other American suffering in the mortgage crisis and wants to testify to Congress about her experience as lawmakers craft a foreclosure-prevention bill.
In […]

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LOS ANGELES (Reuters) - A California man who has defaulted on nine homes and expects banks to foreclose on all of them, forcing him into bankruptcy, says he now considers it a mistake to have invested in the real estate market.
Shawn Forgaard, a 37-year-old software company project manager, bought one home for his family to […]

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BusinessWeek Online - Beverly Hills Realtor Sally Forster Jones is trying to win over a new client by cutting right to the most important point of the sale — the price. “The house is worth two-ish,” Jones says, meaning $2 million. Jones explains that the client could list the home for $2.29 million, but then […]

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MERCED, Calif. - The end came in a blink outside the Merced County courthouse.
Only six people showed up for the foreclosure auction, Janice Pimentel and her son Nick included. By chance, the Pimentels’ dairy farm was the first property offered.
The auctioneer, a young man in aviator sunglasses and blue jeans, read their address and paused […]

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Question: I’ve spoken to a few home builders in the San Francisco Bay Area and they expect things to pick up in the second half of the year. But this is a different market than the rest of U.S. –Ander Vazquez, Marcus & Millichap.
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County’s home prices are taking a beating to start the year as foreclosures have overwhelmed the market, but some real estate agents see increased buyer interest in the otherwise gloomy market.
Banks have purchased nearly as many foreclosures in North County as have individuals buying homes over the last two months, according to reports from the […]

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