Mission Palo Alto will be having a community garage sale on July 9 & 10. The gates will be open during the day on both Saturday and Sunday from 8:00 AM to 3:00 PM. Please feel free to open your garage or use your carport and sell your junk or treasures away. There will be [...]
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Supreme Court Rules Cities May Seize Homes: “A divided Supreme Court ruled Thursday that local governments may seize people’s homes and businesses against their will for private development in a decision anxiously awaited in communities where economic growth often is at war with individual property rights. The 5-4 ruling — assailed by dissenting Justice Sandra [...]
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Hazards of option ARMs: “Interest-only mortgages have gotten a lot of ink lately, but there’s another type of potentially risky home loan that deserves even more scrutiny, according to some in the real estate industry. Known as an option ARM, it’s an adjustable-rate mortgage that typically lets borrowers choose one of four different payments each [...]
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Housing market tumble forecast / Economists see bubble bursting by late next year: “A long-predicted correction in the high-flying housing market could steer the economy into a recession as early as late 2006, according to a forecast to be released today. Economists at the prominent UCLA Anderson Forecast have anticipated a real estate downturn for [...]
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Real Estate Speculation Pushing Up Prices: “Home builder Marsha Elliott is selling two units in a brand new stucco and stone duplex. But the buyer isn’t planning to move in or rent. Hoping to capitalize on rapidly rising home prices, the buyer intends to sell the units shortly after the July closing, Elliott says. It’s [...]
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Home prices in Bay Area set another record in May / Pace of appreciation slows, signaling possible cooling in market: “Bay Area home prices in May hit their 10th record in 12 months. But the rate of appreciation is cooling, hinting at a gradual slowdown in the market, according to analysts at a real estate [...]
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Rates on 30-Year Mortgages Climb: “Rates on 30-year mortgages rose last week for the first time in five weeks, according to a nationwide survey. Mortgage giant Freddie Mac said Thursday its weekly survey showed that rates on 30-year, fixed-rate mortgages averaged 5.63 percent, up from 5.56 percent last week. It marked only the second increase [...]
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Calif. home prices hit new highs in May but gains in value slow: “Strong demand by buyers amid an inventory crunch helped drive the price of California homes and condos to a new high in May, but gains in value slowed for the fourth month in a row, an analyst said Thursday. The statewide median [...]
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MercuryNews.com | 06/16/2005 | South Bay home prices jump again: “Plenty of economists are warning that home prices can’t keep rising, but so far no price bubble seems to be bursting in the Bay Area. The median price of resale houses that changed hands in the Bay Area rose to $630,000 in May, up nearly [...]
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A look at future of housing: “Five chief economists from the real estate and mortgage industries gave their midyear housing outlook Wednesday. Not surprisingly, they were all bullish on housing, some more than others. ‘Yes, there is froth in the markets, but you know froth can be healthy,’ said David Lareah, chief economist with the [...]
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