Flips and scams blamed in California housing decline
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CORONA, Calif  - Bhaviesh and Varsha Shah bought their dream home in a new development east of Los Angeles two years ago, planted flowers around an emerald lawn and picked out wicker furniture for sitting outside on cool afternoons.
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Home buyers are responding to incentives in many markets, helping reduce the inventory of unsold homes, executives told an industry conference on Tuesday.
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News flash: Realtors may be biased toward real estate.
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Hundreds of people face losing their retirement homes in Spain due to shady property dealings.
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With the housing market in decline, financial predators are finding yet another way to take advantage of people behind on their payments.
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As mortgage defaults rise, more houses are being put up for auction  -  and more people are seeing a chance to make big bucks. But there are risks
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Across the country, local governments are feeling a financial strain driven largely by the nationâs real estate downturn and some are considering higher taxes.
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The worst part of the housing market downturn may be over in California and how long it will weigh on the state's economy may be shorter than expected, according to a report released on Monday.
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A realtors group forecast an even greater decline in home sales and predicted a drop in prices in the next few months.
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The number of existing homes sold also fell, suggesting that the sharp decline in home sales seen earlier this year has for now leveled off.
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Evidence is mounting that 2007 was the worst year for the housing industry in nearly half a century.
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Investors who tried to turn a profit on the housing market are having an outsize influence on surging mortgage defaults in former boom states like California and Florida, a banking industry group said Thursday.
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Not everyone has suffered from the current housing slump. Exceptions include entrepreneurs with deep experience in real estate and those who have carved out a special niche.
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The latest data indicates that slowing home sales and the rising number of properties for sale is forcing more sellers to reduce prices in many locations across the country.
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Home sales in Southern California sank to their lowest in nearly two decades in December as buyers were sidelined or dropped out of the market because they could not obtain mortgages, according to a report released on Tuesday.
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The Internet is reviving a grand old American tradition: land scams. Thousands of lots in phantom subdivisions that were sold decades ago to people who hoped to build retirement homes in warm states are reappearing on online sites such as the Internet giant eBay.
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Property prices are falling at rates not seen since the 1990s housing recession, surveyors warn.