Joseph & Cheryl Melendez's (melendezteam) Blog

 NOTES FOR THe ON RECESSION, PRICING AND THE FUTURE... There was an Associated Press article whose headline read, "US Housing Slump a Prelude to Recession."  It was a brief article and had 3 main points: 1) if history is any guide, a recession is most likely around the corner because a recession ...

Entry-level homes are the base of the housing market. From there households move up, creating the demand for more desirable and more expensive existing homes. Historically, much of the housing supply for first-time buyers has come from new home construction. Over the past decade a hot economy an...

WHAT WERE THE ACTUAL NUMBERS, INCLUDING FORECLOSURES... A total of 33,024 new and resale houses and condos were sold statewide in May.  That was up 6% from April and down 10% from May of last year.  Southern California sales volume from Ventura County to San Diego County was 16,917 as compared wi...

HOW DID WE GET HERE?  WHAT DO ECONOMISTS THINK?... Well, we got here in a variety of ways.  First and foremost the way was paved with cheap and available money.  The blame for this goes all the way to Greenspan, Wall Street and the White House.  Without getting into the fray, let it be known that...

HOUSING MARKET HAS ITS WOES, BUT HAS ITS OPPORTUNITIES AS WELL... Every cloud has a silver lining and the real estate market is no different.  Sales volume took a jump in May (the latest full month available) over April, although sales were still off approximately 10% from May of '07.  However, m...