VERY SURPRISING!!

 - to see where homeownership is the highest and where it is the lowest ! Not where you would normally guess. Go tohttp://lowes.inman.com/newsletter/2011/10/18/news/157206

HATE TO ADMIT I WAS RIGHT -- but..

 Since the housing crisis started the federal government has come up with a few major programs to try and help distressed homeowners stay in their homes. As I looked at each one of them my first opinion was that this would not work unless the principal balance of the loan was reduced and no lender would want that to happen. Without that key ingredient, people would not qualify in today's lending environment for the same loan balance they were underwater on and would not be motivated to do so, even though if they could. The House Financial Services Committee just took a look at these and the results were not good news. Take a look at Ken Harney's excellent and detailed analysis.   Click here

 

SEPTEMBER NORTH COUNTY REAL ESTATE STATISTICS

- Sales of all North County real estate types decreased 8 % in September over August  but are up 22% over September of last year! Sales for the first 9 months of this year are also now up 19% versus the 1st 9 months of 2010. Properties in escrow are down  7 % from last month but up 22% over September  of last year. Active listings on the market are down 13% when compared to the same time last year.   Northern San Luis Obispo County real estate sales continue to improve this year over last despite the rest of the USA having a rougher time.