New-Home Sales, Prices Plunge

WASHINGTON (Dow Jones) -- New-home sales resumed falling in August, sinking to the lowest level in seven years, and prices tumbled, signaling the housing sector will remain a drag on the U.S. economy.
The median estimate of 26 economists surveyed by Dow Jones Newswires was a 4.6% decline in August sales to an 830,000 annual rate. The level of 795,000 was the lowest since 793,000 in June 2000.
Year-to-year, new-home sales were 21.2% lower than the level in August 2006.

Garage Break Ins?

The Newsletter only mentioned multiple garage break ins. Were they all the same night? Were the garages locked? What types of things were taken? When I return to Parkridge at unusual times I often take a loop around the complex to see that things are as they should be. Let's all be on the look out.

Issues with their garage door opener?

Is anyone else having issues with their garage door opener? Mine was working fine, I went on vacation, when I returned it no longer worked. Apparently there was some eletrical issues with some of the garages. It appears that during the repairs, the circuit was overloaded and burned out the motor of the garage door opener. I know at least 4 other units have the same problem, I was just wondering if the problem is localized.

No Hot Water in 3000 Building 9/18-9/19

There was no hot water in my part of the 3000 building last night or this morning. Anyone know what's going on? Howard

Water Seeping Up Into Driveway?

Does anyone know what's going on with the water that looks like its coming up out of the asphalt in the driveway area in front of the clubhouse?

You'd better have great credit and be prepared to put down a big chunk of change!

Stacey Vanek-Smith: Gone are the days when you could land a home loan with less-than-sterling credit and no money down. Mortgage lenders and big banks have gotten very finicky in the last few weeks.

Mitch Ohlbaum is a mortgage broker in Los Angeles. He says if you want to get a decent interest rate now, you'd better have great credit and be prepared to put down a big chunk of change.

Mitch Ohlbaum: For now, the standard is really going to be 10 percent if you want to buy something. Which in the real world's not so bad, it's just a little bit more difficult where we live, where everything's a million dollars. Ohlbaum says 10 percent down is unrealistic for many of his middle-class and working-class clients, even those with steady incomes and good credit. The result? They can't get the loans they need to buy in L.A. where the median home price is well above a half-million dollars.

Dan Arguelles is a real estate agent in Manhattan Beach, California. He says the restrictive lending practices mean homes in his tony area are taking longer to sell.

Dan Arguelles: Now it's getting even tougher, that you have to state your income. It is getting a little harder to find that qualified buyer. The same thing is happening in New York, San Francisco and Washington D.C.

Housing market economist David Lereah is with move.com. He says a couple months ago it was too easy to get a loan, now it's too hard