Bruce Norris is joined this week by John Karevoll. John was born in Minneapolis in 1951. His family moved to Norway where he was raised, educated, and married. He worked as a journalist in Oslo for ten years and joined a Scandinavian business publication in New York in 1983. In 1987 he was pulled into …
According to Veros, San Diego home prices will rise 3.5% next year. November saw an increase in home sales since decreasing significantly in July. In other news, fewer people are applying for mortgages most likely due to higher rates. Fannie Mae expects home prices to decline in 2011, although they expect the sale of new homes to decrease and existing sales to increase. The Obama administration believes the recent robo-signing has resulted in a decrease in foreclosures.
Multifamily home building will likely become more expensive in San Diego, as a new water meter program gains popularity. According to RealtyTrac, one in every 25 Los Angeles homes received a notice of foreclosure in 2009. Silicon Valley Bank forecasts an increase in foreclosures in Napa Valley.