Biz break: California real estate short sale: nightmares stalling the recovery?

Today: he'd been tricked should speed up the short sales to improve the Golden State housing market, says the Association California Lmtoochim. Plus: should Google New York ?????. Real estate market in gold updateThe estate made up last month, California Association reported today, at least lmtoochim judge according to the sales of existing single-family houses.

Number of sales last month was up 9.2 percent on the basis of the match, but there were pockets of October down 8.6 percent from November 2009, when the market enjoyed from tax credits for homebuyers.

House l. Pierce, President, Association, said that the real estate market recovery

Was stalled by tourism sales experience, who are notoriously difficult to navigate and "with all guarantee closure". (Short sale occurs when the transaction price does not cover all of the mortgages on the home). A survey by the Association found that two out of every five sales brief attempts to close the world.

"It takes a lot of 90 days he'd been tricked or more simply to communicate if short sale accepted, causes tremendous frustration for buyers, sellers," Pierce said the new release. "The housing market is not fully restored until he'd been tricked improve the sales process, will help expedite transactions short."

Statewide, the median sales price was down 2.4 percent $296,820, October, and 2.5 percent

From November 2009.

The report is based on data collected by the local REALTOR associations. (However, according to information from the MDA DataQuick which we write about every month based on sales transactions reported to the provincial governments.)

At the end of the market higher – bytes with prices of $ 500,000 or asking more registrations were down your pockets month before.

Communities are expensive: speaking higher at the end of the market, Silicon Valley and the three cities elsewhere in the Gulf were among the 10 most expensive communities by median price. Here's the list: 1. Saratoga: $1,235,000

2. Beach on in Newport: $1,110,000

3. Laguna Beach: $1,107,500

4. La Jolla: $1,037,500

5 (equality). Los Gatos: 850,000 $

5 (equality). Cupertino: sold!

7. Santa Monica: $849,000

8. Santa Barbara: $839,000

9. Danville: $720,000

10. San Francisco: $680,000

National numbers: today, also reporting to the National Association of sales house there are around lmtoochim USA were up 5.6 percent on the basis of the match your pockets last month, but were down 27.9 percent from November 2009. As for 2011, Commons Lawrence, Chief Economist of the Group expects a positive impact "more stable job creation outweigh some negative impact from a modest rise in mortgage interest rates, which remain the advocates of reincarnation point out in history."Headers and Tech Google: Speaking real estate, juggernaut Mountain View Internet buy itself a building in New York. "We believe that this is a great investment in real estate in thriving and fantastic," David Radcliffe, Vice President of Google's real estate and services in the workplace, wrote today on the property of the company's blog. at the eighth 111 Ave. Console port authority – former Manhattan Chelsea District – and building nearby the ninth Avenue home company employees to 2,000. Google bought the eighth Avenue Taconic investment partnership building, properties, Jamestown, New York State common retirement fund.

Terms and tags disclosed, but new Bloomberg put price on 1.8 billion according to information earlier this month from an unnamed person with knowledge of the deal. "

Skype: service call Internet injured by stopping the service today, the company confirmed on a blog post. The company explained stop mixed problems with computers it calls "supernodes" to help route the calls between Skype users. "Our engineers are creating new mega supernodes ' as quickly as they can, which gradually things should return to normal, "said post. "This may take several hours, we are sorry for the disruption of your sincerely. Some features, such as video calling, you can take a long time to return to normal. "Silicon Valley stocksUp Tech: Apple, Google, Cisco Systems, Yahoo.

Down: Oracle, Intel, Hewlett-Packard, eBay, VMware, Gilead Sciences.

The index consists of bnsda heavy Tech: 3.87 up or 0.1 percent, to 2,671.48.

Blue chip industry average of dhow Jones: 26.33 up or 0.2 percent, to 11,559.49.

And extensive Standard & poor vessels of 500 index: 4.24 up, or 0.3 percent, to 1,258.84.

Check in the afternoon of weekday beyond visiting the 60-Second, a summary of the new Mercury News staff writers, Associated Press, Bloomberg news wire services. Contact Franck Russell at 408-920-5876. Follow him at twitter.com/mercspike.

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