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Communities get 'First Look' at many REOs

Inman News, Posted: 09/02/10
Federal housing officials have reached an agreement with mortgage lenders that will give nonprofit organizations and state and local governments right of first refusal to purchase foreclosed homes in certain targeted neighborhoods. Lenders participating in the "National First Look Program" represent about 75 percent of the real estate owned (REO) marketplace, the Department of Housing and Urban Development announced Wednesday.
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SAN.DIEGO.REAL.ESTATE.NEWS		SAN.DIEGO.FINANCE.NEWS
Housing Inventories Rise for Eighth Straight Month Wall Street Journal, Posted: 09/07/10 Housing inventories rose in many U.S. cities for the eighth straight month in August in a sign of the continued headwinds facing a soft housing market. The number of available homes for sale in 26 major metropolitan areas at the end of August increased 0.4% from one month earlier, according to figures compiled by ZipRealty Inc., a real-estate brokerage firm based in Emeryville, Calif. read more >> Housing Woes Bring New Cry: Let Market Crash New York Times, Posted: 09/07/10 The unexpectedly deep plunge in home sales this summer is likely to force the Obama administration to choose between future homeowners and current ones, a predicament officials had been eager to avoid. read more >> HOTELS: Sunstone ends $580M bid for Hyatt Manchester North County Times, Posted: 09/07/10 A previously agreed upon deal by Aliso Viejo-based Sunstone Hotel Investors Inc. to buy the 1,625-room Hyatt Manchester San Diego has come apart, according to the San Diego Unified Port District's director of real estate. read more >>		Brothers charged in Southern California real estate fraud; lavish loot seized Los Angeles Times, Posted: 09/07/10 Two brothers have been charged with a widespread real estate fraud that provided them with a "lavish lifestyle," the San Diego County district attorney announced Tuesday. David Zepeda, 57, and John Zepeda, 59, are charged with 104 felony counts that include identity theft, forgery, grand theft, rent skimming and conspiracy. read more >> Pressure mounting on the jobless San Diego Union-Tribune, Posted: 09/07/10 Debbie McKay knows time is running out. She was laid off from her job as a corporate travel consultant in February 2009. Last week, she lost her COBRA benefits and she figures she has just a few more months of unemployment insurance.Debbie McKay knows time is running out. read more >> Non-Economic Factors Handicap the Economy New York Times, Posted: 09/07/10 San Francisco’s chief economist, Ted Egan, gave a pretty downbeat assessment of the region’s economic outlook last week at a San Francisco Chamber of Commerce conference, citing the lack of employment growth and the anemic housing market as the major problems. That comes as no surprise. read more >>

Communities get 'First Look' at many REOs

Housing Inventories Rise for Eighth Straight Month

Housing Woes Bring New Cry: Let Market Crash

HOTELS: Sunstone ends $580M bid for Hyatt Manchester

Brothers charged in Southern California real estate fraud; lavish loot seized

Pressure mounting on the jobless

Non-Economic Factors Handicap the Economy