Ricardo Bueno's Blog

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Pasadena Mortgage Rates Report - October 24, 2007

To all of my Southern California friends, family and colleagues affected by the fires, please know that my thoughts & prayers go out to you! You have friends and family here and everywhere to support you! With an Active Rain Network 54,000+ members strong, you have a tremendous amount of support!

Here's an Active Rain blogroll tracking  some of the activity...

Safe in SoCal...for now. by Brian Brady

California Fire Active Rain Roll Call
by Marlene Bridges

CALIFORNIA FIRES - MEMBERS IN JEOPARDY
by Laurie Manny

Southern California Fires - Day Four
by Tom Plant

Sunday Morning - My Old Home Burned Up (Fire Updates) by Kathy McGraw 

 

On to the Industry Report... 

Existing Home Sales: are looking ugly for the month of September.

    Unsold inventory spiked to a 10.5 month supply

    Median home price dropped by 4.2% year over year to $211,000

California and Florida are designated as the biggest problem areas as they have also enjoyed some of the more larger gains in the most recent years.

It's anticipated that much like the housing decline in the early 90's, a full recovery will most likely be achieved in years rather than just months.


Stocks have been under selling pressure this morning...

 

           VIEW FULL REPORT!

4 commentsRicardo Bueno • October 24 2007 03:58PM

Comments

Ricardo.....thank you for the sentiments, once again just shows what kind of person you are......:)
Posted by Kathy McGraw, Riverside County CA Real Estate (CELLing Realty) over 2 years ago
Thank you for the great information Ricardo and the wonderful thoughts!
Posted by Burbank Real Estate Agent Ana Connell (Keller Williams Realty) over 2 years ago

Kathy: why thanks for chiming in...by the way, did you notice the update I made???

It's good to hear that your daughter is doing ok.  

Ana: as usual, it's my pleasure! As for what is transpiring, it's such a catastrophe!!! It's times like these when you need people the most. A small reminder that you have friends to support you is always a good thing! :) 

Posted by Ricardo Bueno (The Real Estate Tomato) over 2 years ago
Ricardo - We certainly have felt that support over the past gew days.  Thanks for the mention of my attempt to keep everyone informed during the past few days.  And, yes our market has been hit hard, but we have had such incredible upward gains for so many years it was just a matter of time that the market would need to adjust.  There are still people who need to sell and buyers who need to buy.  Read a good report on Florida this week that at least one economist believes they've hit bottom and are moving back up.  Maybe California will be soing the same soon.  Take good care of yourself, my friend.
Posted by Laguna Homes|Laguna Condos| Laguna Real Estate|Marlene Bridges (Sherman Smith & Associates) over 2 years ago

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