The full article is here.

Here is coverage off Yahoo

Kudos to Jonathan Jarvis for a video and explanation well done, clap clap clap.

And now the figures:
Date Median listing price Inventory

4/06 $579,666 27,251
4/07 $545,000 35,489
5/07 $545,000 38,297
6/07 $540,000 40,766 (up 20.4% y/y)
7/07 $535,000 42,685 (up 14.5% y/y)
8/07 $529,000 44,483 (up 13.6% y/y)
9/07 $520,000 46,414 (up 16.9% y/y)
10/07 $510,000 46,603 (up 15.6% y/y)
11/07 $499,900 46,503 (up 19.0% y/y)
12/07 $495,000 (down 10.0% y/y) 43,174 (up 28.2% y/y)
1/08 $479,900 (down 12.6%) 40,850 (up 33.3% y/y)
2/08 $475,000 (down 13.5%) 43,625 (up 38.3%)
3/08 $464,900 (down 15.5%) 42,098 (up 31.4%)
4/08 $450,000 (down 17.4%) 42,430 (up 16.7%)
5/08 $449,900 (down 17.4%) 42,532 (up 11.1%)
6/08 $440,000 (down 18.5%) 42,398 (up 4.0%)
7/08 $425,000 (down 20.6%) 44,636 (up 4.6%)
8/08 $410,000 (down 22.3%) 42,279 (down 5.1%)
9/08 $399,900 (down 23.1%) 42,553 (down 7.9%)
10/6/08 $399,000 (down 22.5%) 40,137 (down 13.2%)
10/13/08 $398,000 (down 22.0%) 40,093 (down 14.0%)

Figures according to Housing Tracker’s weekly analysis of MLS listings.

The market has tanked. Yes, it looks like a tank, but at the end of the day it’s a bunch of balloons. It can’t stay down forever, seize your opportunity!

Source: Banks and regulators *Bank of America is acquiring Merrill Lynch

Here is a great article on the US $250bn rescue plan, from the Financial Times.
Click Here For Article

Here is a great article from real estate economist Richard K. Green from the USC Lusk Center for Real Estate. Enjoy.

Get in depth article

This is the crazy part (or maybe crazier part), it still took 19 days to find a buyer. This house has been sold, but there are others under $100. I’m confident I can get you qualified for a loan at a good rate.

Here is an overview:
4 Bedroom, 2 Bath 1,249 Sq. Ft.
Colonial style house in Wayne County, Built in 1917
8111 Traverse Street Detroit, MI 48213
MLS ID# 28121395
Property Sold “As Is”, $1

Original article on The Detroit News

Full Listing:

Jay Lopez | Castlewood Realty | (213) 595 7419 1100 S. Hope Street #1713, Los Angeles, CA Stunning View from the 17th Floor of a South Park Loft 2BR/2.5BA Condo offered at $1,450,000 Year Built 2007 Sq Footage 1,787 Bedrooms 2 Bathrooms 2 full, 1 partial Floors Unspecified Parking 2 Car garage Lot Size Unspecified HOA/Maint $700 per month DESCRIPTION Large open soft loft with exposed concrete, stainless steel, and contemporary finishes. This unit has an amazing view of the everything North and East of South Park, and features large windows, high ceilings, exposed concrete walls, wall to wall hardwood floors, designer paint color palette, granite countertops, stainless steel appliances, a large terrace, a walk in closet, laundry room, and direct access to the parking garage. The building features a concierge, secure parking, a fourth floor pool terrace, outdoor cabanas, outdoor fireplace with lounge, Wi-Fi, a bicycle storage facility, recycling center, and security. This building is LEED certified and 3 blocks from the Staples Center, LA Live and 2.5 miles from USC. see additional photos below PROPERTY FEATURES Central A/C Central heat High/Vaulted ceiling Walk-in closet Hardwood floor Dishwasher Refrigerator Stove/Oven Microwave Granite countertop Stainless steel appliances Washer Dryer Laundry area – inside Swimming pool COMMUNITY FEATURES Garage parking Swimming pool(s) Secured entry Elevator Wheelchair access ADDITIONAL PHOTOS Seller contact info: Jay Lopez Castlewood Realty (213) 595 7419 For sale by agent/broker Equal Opportunity Housing Posted: Jul 22, 2008, 9:36pm PDT

Call me to schedule an private showing at 213-595-7419.

Full Listing:

Jay Lopez | Castlewood Realty | (213) 595 7419 1111 S. Grand Ave., Los Angeles, CA 2 Story Live / Work Soft Loft in South Park / Downtown Los Angeles. 2BR/1.5BA Townhouse offered at $1,695,000 Year Built 2006 Sq Footage 2,731 Bedrooms 2 Bathrooms 1 full, 2 partial Floors 2 Parking 2 Car garage Lot Size Unspecified HOA/Maint $800 per month DESCRIPTION 2 story live / work soft loft with exposed concrete, stainless steel, & contemporary finishes. The ground floor opens directly to the street level of Grand Ave., & features large windows, high ceilings, exposed concrete walls, wall to wall carpet, and makes an amazing work space. The upstairs floor features hardwood floors, granite counter tops, stainless steel appliances, a walk in closet, laundry room, & direct access to parking garage. Either floor is ideal for office space, showroom, or a residence, and can be subdivided and leased individually if desired. The building features a concierge, secure parking, a 4th floor pool terrace, outdoor cabanas, outdoor fireplace with lounge, Wi-Fi, a bicycle storage facility, recycling center, & security. This is the first green and LEED certified residential building in Downtown, is 3 blocks from the Staples Center, LA Live, and 2.5 miles from USC. see additional photos below PROPERTY FEATURES Central A/C Central heat High/Vaulted ceiling Walk-in closet Hardwood floor Office/Den Dishwasher Refrigerator Stove/Oven Microwave Granite countertop Stainless steel appliances Washer Dryer Laundry area – inside Yard Swimming pool COMMUNITY FEATURES Garage parking Swimming pool(s) Secured entry Elevator Wheelchair access ADDITIONAL PHOTOS Seller contact info: Jay Lopez Castlewood Realty (213) 595 7419 For sale by agent/broker Equal Opportunity Housing Posted: Jul 22, 2008, 6:25pm PDT

Call me to schedule an private showing at 213-595-7419, need 24 hour advanced notice to set appointment to view, please schedule with this in mind. Thank you.