Countrywide Continues the Slow Bleed. Countrywide takes a writeoff of $125-$150 Million in their re-structuring where they are laying off 20% of their workforce. Meanwhile Southern California home sales have dropped to their lowest since Dataquick began tracking home sale records in 1998.

A total of 12,455 new and resale houses and condos were sold in September in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties, according to DataQuick Information Systems.

It was the slowest month since the firm began keeping records in 1988, DataQuick said.

Labels: countrywide, southerncalifornia, SouthernCaliforniaHomes

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Houses Overvalued in Northern California, Study Shows Houses Overvalued in Northern California, Study Shows
KXTV - Aug 19 9:00 AM
A new study by one of the nation's largest mortgage lenders shows some of the country's most overvalued houses are here in Northern California.


Not surprising really given the amount of money in Silicon Valley and the desirability of California real estate. It's only natural that real estate would be bid up.

Labels: BakersfieldRealEstate, NorthernCalifornia, southerncalifornia, SouthernCaliforniaHomes

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