Chino Hills California Real Estate, Gail Griffin

Talking Points As the housing market continues to struggle for stabilization, many homeowners are turning to strategic default.  Almost 11 million homes are now underwater, according to Corelogic.  Around 3.5 million homeowners are behind in their payments and another 1.5 million homes are already in the ...

  CNNMoney Sales of homes in foreclosure comprised 20% of all U.S. residential sales during the third quarter, according to RealtyTrac. Read the full story

Talking Points The CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) Pending Home Sales Index (PHSI)* fell from a revised 108.7 in November to 91.6 in December, based on signed contracts.  The index was up from the revised 82.5 recorded in December 2010, marking the eighth consecutive month that pending ...

  The Los Angeles Times The Center for Responsible Lending has called a proposed $25-billion settlement over faulty foreclosure practices between attorneys general, federal agencies, and the mortgage industry “an important step in addressing foreclosure abuses.” Read the full story 

  The Wall Street Journall  There were fewer houses for sale at the end of 2011 than in any of the previous four years, a positive sign for the housing sector. Read the full story

  The Wall Street Journal Existing-home sales increased 5 percent in December from a month earlier, to a seasonally adjusted annual rate of 4.61 million units, the NATIONAL ASSOCIATION OF REALTORS® said Friday. Read the full story 

   The New York Times Fannie Mae and Freddie Mac recently extended their foreclosure forbearance programs to give short-term aid to unemployed homeowners, but housing counselors warn that these borrowers will need to look at longer-term solutions. Making sense of the story In a forbearance program, a lender ...

A pilot program launched by Bank of America in Florida has drawn minimal interest from homeowners seeking short sales.  The program pays up to $20,000 to homeowners who sell distressed properties in a short sale.  However, as of late January, only 60 people have taken advantage of the program.  Bank of America had targeted ...

In his State of the Union address, President Obama laid out a plan to help responsible borrowers and support a housing market recovery. Key aspects of the president’s plan include: Broad-based refinancing: The president’s plan will provide borrowers who are current on their payments with an opportunity to ...

Calif. median home price: December 2011: $285,920 (Source: C.A.R.) Calif. highest median home price by region/county December  2011: Marin: $693,880 (Source: C.A.R.) Calif. lowest median home price by region/county December 2011: Madera: $106,000 (Source: C.A.R.) Calif. Pending Home ...