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SAN.DIEGO.MARKET.INTELLIGENCE
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Home prices tick up 1.3% in May
Los Angeles Times, Posted: 07/28/10
Home prices posted strong gains in May as a federal stimulus program boosted sales. But many experts predict the housing market to soften this year as the effects of government support wane. Prices of previously owned single-family homes rose 1.3% in May over April and 4.6% over May 2009, according to the Standard & Poor's/Case-Shiller index of 20 metropolitan areas, a closely watched measure of prices.
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SAN.DIEGO.REAL.ESTATE.NEWS  |
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SAN.DIEGO.FINANCE.NEWS  |
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Homes will sell if priced right; foreclosures have impact
USA Today, Posted: 07/29/10
Emily Rennie's three-bedroom house in Oakland was a beauty in a sweet location. Walking distance to the lakeshore. Close to shops. A refurbished patio in the back. Inside, a modern kitchen with granite countertops.
Listed at $539,000 when she put it on the market, the Excelsior Avenue house was missing one crucial thing: The right price.
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Foreclosure Filings Rise in 75% of U.S. Cities as Joblessness Hurts Owners
Bloomberg, Posted: 07/29/10
Foreclosure filings climbed in three-quarters of U.S. metropolitan areas in the first half as high unemployment left many homeowners unable to pay their mortgages, according to RealtyTrac Inc.
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HOUSING: Median price jumps in Southwest County
North County Times, Posted: 07/28/10
House prices in Southwest County bounded higher in May at the fastest clip in three years, as buyers from the outer Inland Empire and northern San Diego County went looking for bargains, real estate agents said. The May median resale price of houses reached $215,000, up 5.9 percent from April and 13.2 percent from May 2009, according to an analysis of data from the Riverside County assessor's office.
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Price Might Be Right On East West Bancorp
Forbes, Posted: 07/29/10
This morning Pasadena, CA based regional bank East West Bancorp reported second quarter earnings that saw the company swing to a profit. Net income was about $36.3 million or 21 cents per share, three cents better than expected and far more impressive than a loss of $92.1 million a year-ago.
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BANKING: Bank to open branches in groceries
North County Times, Posted: 07/29/10
Chase announced Wednesday that it is opening full-service bank branches in 22 Albertsons stores in Southern and Central California this year, generating about 200 jobs overall.
The first branches are now open in Los Angeles, Orange, Riverside, San Diego and Kern counties, as Chase expands to more than 800 branches in the state by year-end.
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Jobless claims slide in latest week
CNNMoney, Posted: 07/29/10
The number of Americans filing for initial unemployment insurance fell last week, the government said Thursday.
There were 457,000 initial jobless claims filed in the week ended July 24, down 11,000 from a upwardly revised 468,000 the previous week, the Labor Department said. The number of claims was lower than the 464,000 claims expected in a consensus estimate of economists surveyed by Briefing.com.
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