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BTW, for those who may be interested, I find knowledge@ Wharton to be extremely rich in information, and registration is free.

Interesting article from Wharton Could Tremors in the Subprime Mortgage Market Be the First Signs of an Earthquake? http://knowledge.wharton.upenn.edu/article.cfm?articleid=1664&CFID=3711685&CFTOKEN=87598350 ""There's no doubt that we have already lost about 1 percentage point...

<strong>Silicon Valley Home Price "</strong>January's median price is approximately 9.75 percent and $80,000 lower than the market's record high of $819,950 set back in June of 2006." <strong> </strong>http://<a...

Elvin - how much time has elapsed since you last communicated with Lennar? Was it a generic email sent to all on their "Interest List" or was it specifically addressed to you? It sounds to me like they were merely going through their Interest List and calling/ emailing everyone in hope of...

More tidbits on ABX indexes: " Prices for credit-default swaps linked to 20 securities rated BBB-, the lowest investment grade, and created in the second half of 2006 fell 3.9 percent to 78.59 today, and are down 19 percent since being introduced Jan. 18, according to Markit Group Ltd...

NovaStar took a hit, losing 30% in yesterday's trading... as did Accredited Lending (LEND), which reported a loss <strong>three times larger</strong> than the street expected. http://biz.yahoo.com/cbsm/070220/23609bd80eed4930a729858b2d479d89.html?.v=2...

EvaL - So-called economists have been calling the capitulation of the real estate market and HBs responded by firming up their prices. I am not an economist, but I do believe that the market has quite a ways to go. I am betting that this spring through summer is the last ditch effort by HBs...

Gates Foundation just dumped a lot of HB's stocks, foreclosures are rising, with layoffs in the real estate industry sure to follow. Irvine certainly employs many, many loan production-related jobs (New Century), as do other support positions in escrows, titles, appraisals, etc.

BTW, that is less than 5% off, not what I would consider "low ball"

GrewUpInIrvine - you are a dream customer. There aren't too many 800 FICO buyers willing to pay so close to the sticker price. To me, a lowball offer would mean $750, a reasonable offer $800. I think I've seen a pattern of dropping prices by $100,000 by many of these tracts so that $50 off...

"...the actions are based on nothing more than rumor and innuendo." I would argue that it is more than rumors and innuendos, but there are binding contract agreements between the parties. Follow the money ... "Price fixing involves collusion between entities who would normally...

Does anyone on this board with the legal background?

Did I mention this is for Las Palmas? Personally, it is just alright. The HOA board is , citing people for parking on the street, in-fighting (I hear - as a renter, you don't have any voting rights), a stickler for rules and regs that aren't uniformly applied. If I were looking to buy, I...

Yes, I picked up a flier not long ago for a rental 1,607 sq. ft for $2,150. Unfortunately, don't have it anymore.

Red - I work for a lender and for me, my experience has been the opposite of what you are saying. Sales picked up towards the end of last year as builders were pushing more price concessions, free upgrades and other incentives, which helped move some of the inventories. With the...

Just a couple of points: to play devil's advocate, are you not cherry picking the data? Certainly, there were probably other transactions where the players made out like bandits (seriously). That said, I think your points are well taken. Median price (OC Register's Jon Lansner's green arrow)...

fk123 - No Irvineeeee and I are not related, although I must admit I was inspired by his pen name I am renting too, but if I see something I like and at my "price", I am ready to buy, despite what hbunny may think.

zovall, you obviously have very good research skill - How were you able to find all this info?

Fraychielle: I was not referring to the process of making an offer. If, however, you had actually made a "low ball" offer, say...25% off the asking price of a $1MM home, thinking that it is a good deal but in reality, the house was worth even less than that, and you go through with the sale...

I feel like a broken record...INCREASED TRAFFIC DOES NOT TRANSLATE TO INCREASED SALES!