Monday, May 21, 2007
Thursday, May 17, 2007
San Diego county foreclosures on the rise
By Emmet Pierce
UNION-TRIBUNE STAFF WRITER
May 17, 2007
The trend of rising home foreclosures continued in April as 525 San Diego County dwellings were reclaimed by lenders, surpassing March's record of 433 properties.
There were 1,346 notices of default, the first step in the foreclosure process, DataQuick Information Systems reported Thursday. That was a slight decline from March, when 1,395 such defaults occurred.
Most homeowners who fall behind in mortgage payments bring their loans current before foreclosures occur.
One reason for rising foreclosures is heavy consumer reliance on risky adjustable-rate loans that begin with low “teaser” interest rates and adjust upward after several years, said DataQuick analyst Andrew LePage. “No doubt some of it is the riskier stretch financing coming back to haunt people who can't hold on once a reset kicks in or a teaser rates expires,” he said Thursday.
Another reason for record foreclosures is softening home prices, he said. “Appreciation has disappeared across a huge part of San Diego County, and now we have declines,” he said. “It has left anyone who is struggling to make their payment in a difficult position if they have little or no equity.”
Many home values within the county doubled during the first half of the decade. The median price for all San Diego County homes in April was $490,000, down 3 percent from a year ago, but unchanged from March. That marks a drop of 5.3 percent from November 2005, the peak of the housing boom.
Zoltan Pozsar, senior economist at Moody's.com, said he expected foreclosure rates to continue to rise in the months ahead in San Diego County and other U.S. markets that saw huge price gains during the housing boom. “We are going to be breaking records in terms of foreclosures and delinquency rates throughout this year.”
Even so, he stressed that foreclosures remain a small fraction of the overall San Diego County housing market. “The housing slowdown is unlikely to derail the local economy,” Pozsar said.
Repost of SignOnSanDiego.com
UNION-TRIBUNE STAFF WRITER
May 17, 2007
The trend of rising home foreclosures continued in April as 525 San Diego County dwellings were reclaimed by lenders, surpassing March's record of 433 properties.
There were 1,346 notices of default, the first step in the foreclosure process, DataQuick Information Systems reported Thursday. That was a slight decline from March, when 1,395 such defaults occurred.
Most homeowners who fall behind in mortgage payments bring their loans current before foreclosures occur.
One reason for rising foreclosures is heavy consumer reliance on risky adjustable-rate loans that begin with low “teaser” interest rates and adjust upward after several years, said DataQuick analyst Andrew LePage. “No doubt some of it is the riskier stretch financing coming back to haunt people who can't hold on once a reset kicks in or a teaser rates expires,” he said Thursday.
Another reason for record foreclosures is softening home prices, he said. “Appreciation has disappeared across a huge part of San Diego County, and now we have declines,” he said. “It has left anyone who is struggling to make their payment in a difficult position if they have little or no equity.”
Many home values within the county doubled during the first half of the decade. The median price for all San Diego County homes in April was $490,000, down 3 percent from a year ago, but unchanged from March. That marks a drop of 5.3 percent from November 2005, the peak of the housing boom.
Zoltan Pozsar, senior economist at Moody's.com, said he expected foreclosure rates to continue to rise in the months ahead in San Diego County and other U.S. markets that saw huge price gains during the housing boom. “We are going to be breaking records in terms of foreclosures and delinquency rates throughout this year.”
Even so, he stressed that foreclosures remain a small fraction of the overall San Diego County housing market. “The housing slowdown is unlikely to derail the local economy,” Pozsar said.
Repost of SignOnSanDiego.com
Sunday, May 13, 2007
Killer Whales blasted by U.S. Navy Sonar
Full story and video at National Geographic News
The funny thing is, the marine biologist that caught this is a former Naval Officer.
The funny thing is, the marine biologist that caught this is a former Naval Officer.
Cop Steals Pot, Makes Brownies, Calls 911
Repost from wxyz.com
Listen to the 911 call here
DEARBORN, Mich. (AP) - A police officer in this Detroit suburb was allowed to resign after admitting he took marijuana from criminal suspects and, with his wife, baked it into brownies.
The department's decision not to prosecute former Cpl. Edward Sanchez left a bad taste in the mouth of at least one city official, who vowed to investigate.
"If you're a cop and you're arresting people and you're confiscating the marijuana and keeping it yourself, that's bad. That's real bad," City Councilman Doug Thomas told the Detroit Free Press for a story Thursday.
"That's like apprehending a bank robber and keeping some of the money for yourself."
The newspaper said Sanchez, who resigned last year, declined to comment Wednesday.
Police Cmdr. Jeff Geisinger left a phone message with a Detroit television station saying Sanchez resigned during an internal investigation. Geisinger did not return subsequent calls asking why Sanchez was not prosecuted.
The department's investigation began with a 911 call from Sanchez's home on April 21, 2006. On a 5-inute tape of the call, obtained by the Free Press under the Michigan Freedom of Information Act, Sanchez told an emergency dispatcher he thought he and his wife were overdosing on marijuana.
"I think we're dying," he said. "We made brownies and I think we're dead, I really do."
Sanchez later told police investigators that his wife took the marijuana out of his police vehicle while he was sleeping. In a subsequent interview, he admitted he got the marijuana out of the car himself, put it in the brownie mix and ate the brownies.
Monday, May 7, 2007
Dogo Argentino
The Vision
The Dogo Argentino or Argentine Dogo originated in Argentina and is the only national dog of that country. Around 1927, the creator of the breed, Dr. Antonio Nores-Martinez MD, saw the need for an animal that could hunt the large game predators which were devastating the local livestock industry. Russian boar, jaguar, red fox and puma were the primary predators that were responsible for this destruction. His vision was of a large dog who could run 10 miles daily on the terrain of the pampas and with endurance to continue like this for several days at a time. One who could step out of the fields and into a conformation ring but still be capable of family protection.
Read More
Coquina Dogo Argentino
Sunday, May 6, 2007
Jeremy Williams RIP
Jeremy Williams was found dead apparently from a self inflicted gun shot wound. This is recent news. I'll post a follow up as more info becomes available.
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