Dec 26th, 2011
by IrvineRenter
Bankers foster the idea that strategic default on a primary residence is immoral. Bankers want borrowers to continue to repay loans even when it is not in the borrower's best financial interest to do so. I and many others have argued borrowers have a greater moral duty to do what's in the best financial interest of their family. Obviously, bankers disagree.
Home Address ... 1229 ABELIA Irvine, CA 92606
Asking Price ....... $319,900
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Dec 23rd, 2011
by IrvineRenter
Borrowing costs are likely to increase in 2012 for a variety of loans. The lower conforming limit will push many borrowers to either the FHA or the jumbo market where borrowing costs are higher. The FHA may also raise its borrowing costs again to cover the inevitable losses from the ongoing decline in home prices. Further, the new rules on conforming mortgages will push up costs on loans which do not conform.
Home Address ... 44 BLUE HERON Irvine, CA 92603
Asking Price ....... $13,900,000
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Dec 22nd, 2011
by IrvineRenter
Prices across most of Orange County continue to decline. The OC Register reports prices have hit a near three-year low. My own analysis of the MLS data shows Irvine teetering on the brink of taking out the 2009 low and setting a new eight-year record low.
Home Address ... 8 KANSAS Irvine, CA 92606
Asking Price ....... $639,000
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Dec 21st, 2011
by IrvineRenter
The loan limit on FHA loans is now $729,750. The venerable FHA which was founded to provide loans for low to middle income Americans is now being used to subsidize the mortgages and the house prices of high wage earners in places like Irvine.
Home Address ... 76 VINTAGE Irvine, CA 92620
Asking Price ....... $499,000
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Dec 20th, 2011
by IrvineRenter
Banks dramatically increased their scheduled foreclosure auctions in November 63% over October. They appear serious about clearing out shadow inventory and getting what capital they can out of the loans secured by houses occupied by delinquent mortgage squatters.
Home Address ... 415 East YALE Loop #13 Irvine, CA 92614
Asking Price ....... $487,500
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Dec 19th, 2011
by IrvineRenter
In Los Angeles and Orange Counties, the conforming loan limit dropped from $729,750 to $625,000 on October 1, 2011. Many market bulls claimed this would have no effect on sales. In November sales of houses with loans between $625,000 and $729,750 declined 84% as compared to last November. So much for having no impact.
Home Address ... 25 WILD Trl Irvine, CA 92618
Asking Price ....... $622,990
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Dec 16th, 2011
by IrvineRenter
The NAr finally came clean and admitted they misreported housing sales data for the last 5 years.
Home Address ... 3492 PECAN St Irvine, CA 92606
Asking Price ....... $599,000
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