Audio: 50-something moves back with parents

We're big fans of personal responsibility and accountability (as well as good sports talk), so we liked this entertaining piece of radio commentary from Colin Cowherd on ESPN Radio describing how a 50-year-old Milwaukee woman has moved back in with her parents in order to save up money to buy a house after finding it hard to find a good job because of the slumping economy.

Well, at least she knows enough to understand that $0 down for real estate isn't going to do it these days.

Enjoy!

Canyon Villas: Then and now

Here's a promotional video from YouTube that was posted last August featuring Canyon Villas in Aliso Viejo.



You may have heard of this 344-unit condo complex, which was built in 1992 during the previous downturn as a condo neighborhood, but instead was rented out before being re-conditioned a couple years ago back into condos and sold just as the real estate market started to shift.

These are located off of Pacific Park Drive, right near Aliso Niguel High and the big Aliso Viejo town center.

Apparently they were having some trouble selling the condos off, and there was an auction in October 2006 to unload 34 units.

Here are the prices mentioned in the video (not sure when it was shot, but obviously before August 2007), along with a check of how similar units are priced now:

• One-bedroom units started at $310,000; bigger one-bedroom units were about $340,000 (a small one-bedroom is asking $249,900-$279,900 and has been on the market for a little more than two months now despite price reductions)
  
• Two-bed, two-bath units started at $416,000 (a 2/2 just came onto the market for $385,000; a 2/2 recently came off the market that was asking $350,000)
  

Video: NAR president on CNBC

The president of the National Association of Realtors recently appeared on CNBC to talk up the housing market. Notice how the reporters don't blindly buy all he's selling?

Video: Realtors know how to sell!

Our parody of a new NAR radio spot. Enjoy and happy Saturday.

Video: Analyst's straight talk on housing, economy

Jay Hatzuis of Goldman Sachs says the chance of a recession this year is "two in three," and explains why he thinks so on CNN on Jan. 9. He also provides his take on the housing market. Hint: "...the housing downturn is nowhere close to the bottom, as far as prices are concerned."

Special thanks to a reader for designing the new logo in the intro (soon to be implemented on the blog as well).

Video: Peter Schiff vs. real estate agent

You've probably seen this one already since it's been making the rounds online, but in case not, "Crash Proof" author Peter Schiff goes toe to toe with a Beverly Hills real estate agent on Fox News about the current state of housing.

Guess who wins...

Video: 2008 real estate outlook

Enjoy this video from Realty Times that previews the real estate market in the coming year - with some added visual commentary from us, of course.

Happy New Year and best wishes to everyone in 2008.

Video: Yun heck of a runaround

The number of real estate transactions has dropped significantly in recent months, but no worries! Lawrence Yun of the NAR explains away to a group of Kentucky realtors why this isn't a big deal - using some very creative stock market-related logic. His approach may be a bit of a divergence from reality, as you will also see.