Joseph & Cheryl Melendez's (melendezteam) Blog

Real Estate Agent - Coldwell Banker Excellence - CalBre#01517694/ 01429652



Q: What are FDIC banks?  The vast majority of banks, including all state-chartered banks in California and many foreign-owned banks, are FDIC-insured. In the event of a bank failure, the Federal Deposit Insurance Corporation insures deposits, including money market accounts, up to $100,000. Co-ow...
  This last month U.S. housing starts fell to near 1950 levels. They have declined 16 of the last 17 months. According to the NAHB's October measure builder confidence has fallen to an all-time low.While single family starts have plunged, multifamily starts have jumped by 7.5% to 273k, 9.6% above...
  There is a throng of under qualified prognosticators all too willing to give their two cents on how the economy is really doing and when housing will begin a recovery. Some have placed partial blame of the current economic crisis on Alan Greenspan's Fed reign having kept interest rates too low ...
According to the Federal Housing Finance Agency, the drop in U.X. home prices in July was 5.3% compared with a year ago.  However, according to the S&P Case Shiller Composite Index, Los Angeles and Orange County combined plunged 26.2% in July '08 compared with July '09.  Of course the major reaso...
 "Experts say the bailout plan has a fair chance of stabilizing the market."  This is a headline from an Associated Press article from September 21st.   Since that article, the bailout was rejected twice before finally passing, and yes, it does have a good chance of stabilizing the economy.      ...
No one can predict exactly what the future will bring.  Notices of Default crept up 6.4% from July to August after being nearly flat from June to July.  There were 2,469 NOD's for Orange County in August.  Actual foreclosures numbered 1,427.  So roughly one out of every two NOD's ends up in forec...
  It is done, finale, complete. Wall Street has been rescued from the mortgage crisis. Well, maybe not all of it, but at least $700,000,000,000 has been transferred from the taxpayers' pocketbook. But rest assured that this is not the end of it, rather only the beginning. By many estimates this s...

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