Beverly Hills shadow inventory nine times the size of MLS public foreclosures

Dr. HousingBubble reports:

«Recent data shows that the shadow inventory figure is starting to decline nationwide.  However in high priced markets particularly in California there is little movement in the shadow inventory.  To the contrary, notice of defaults for California raged up nearly 70% in the last month of data.  In other words while the pipeline nationwide for shadow inventory may be declining at a slow turtle like pace, little of this is happening in high priced markets with absurd levels of hidden inventory like in Beverly Hills or Culver City for example.

Adding fuel to the fire, the incredibly high mortgage limits are set to expire which will keep the faux-bourgeoisie from buying their $1 million shack in a preferred zip code simply by going into massive debt.  They will now need to come to the table with some solid cash and a respectable income.  Realtors are bemoaning this and trying to fight tooth and nail to keep it in place because they realize how phony some of these buyers are in terms of their actual net worth.»

27
Sep 2011
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Anaheim housing market looks sluggish

Analysis of real estate for sale in Anaheim shows the market «sluggish» in its last tabulation.
  • 552 residences listed in brokers’ MLS system with 188 new deals opening in the past 30 days.
  • Ccommunity has a “market time” (months in would take to sell all inventory at current pace of new escrows) of 2.94 months vs. 3.53 months seen a year earlier.
  • Homes in this community sell ( in theory) in 18% less time than the countywide pace.
  • Of the homes listed for sale in this community, 328 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 59.4% of supply of homes for sale vs. 34.1% countywide.
  • Homes for sale in Anaheim represent 5.2% of Orange County inventory — and 9.1% of all the distressed homes listed for sale in Orange County. New escrows here are 6.4% of all Orange County’s new pending sales.
20
Sep 2011
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Long Beach Offers Free Nicotine Replacement Therapy

The City of Long Beach Department of Health and Human Services (Health Department) is informing residents who want to stop smoking that they now have another resource to help them quit.  All Los Angeles County residents are now eligible to receive a free 1-month supply of nicotine patches by calling 1-800-NO-BUTTS.

The free nicotine patches are being distributed through the California Smoker’s Helpline (1-800-NO-BUTTS), which offers multi-lingual services including Spanish, Vietnamese, Cantonese, Mandarin, and Korean. The Helpline is a free telephone counseling resource to help smokers develop a quit plan and assist them through the quit process.  Applicants for the free nicotine patches must be over the age of 18 and have a Los Angeles County mailing address.

For more information regarding the Health Department Tobacco Education Program, please contact Eipryl Tello, Interim Tobacco Education Program Coordinator, at 562-570-7950 or visit www.longbeach.gov/health

13
Sep 2011
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Beverly Hills 9/11 Memorial Garden Opens

Beverly Hills 911 Memorial Garden

This Sunday, on the 10th anniversary of the attacks, a memorial here will be unveiled to the public for the first time: the Beverly Hills 9/11 Memorial Garden.

Beverly Hills Fire Chief Timothy Scranton — who was working at Beverly Hills Fire Station 2 on Sept. 11, 2001 — spearheaded the Memorial Garden project.

more @ huffpost

11
Sep 2011
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