Category — News

TRADITIONAL RULES OF THUMB are holding true.  Here in Campbell average days a home is on the market is holding steady at 90 days.  Traditionally 90 days means a flat market with prices trending neither up nor down.  Since last June average price per square foot as varied only $4 and is now at $504.  Yes, it is a flat market.  All real estate is local, and market conditions vary considerably from market neighborhood to neighborhood over Santa Clara County.

LOCAL REALTORS promote open homes and homes up for bid this weekend.  Every little bit helps.  The REO inventory of homes needs to be reduced.  Hopefully investors will be out this weekend.  Bargain time.

A JEWELER WAS ROBBED by bandits in the Pruneyard parking lot in Campbell.

This sounds like a planned robbery aimed at the jeweler to me.  Hang ‘um high.

PRESIDENT BUSH just delivered a speech on foreclosures.  “Hope Now” a voluntary program to reduce principle loan balances and payments on owner occupied homes in foreclosure has helped over 1 million homeowners, according to the President.

This is may be a historic first “infomercial” by a President who was promoting “Hope Now”.

All of this is actually good for the housing market, because it may reduce the number of REOs.  However, the stock market has gone south since the President’s speech.  What do I know.

PETER THIEL brings us an optimistic thought experiment on globalization that includes an analysis of the subprime mortgage market bust on global markets.  This is an important article for anyone interested in global markets, booms, busts, and the future.

My favorite line by Thiel: “approaching retirement in an actuarially bankrupt country.” Sigh.  Unfortunately true.