Two tidbits from the home sales front:
- Searches for “homes for sale” at major search engines correlates well with monthly new homes sales figures from NAR. And the live data for August suggests that the next release, scheduled September 15th, will show an increase. [via Hitwise]
- This morning on a San Diego radio station I heard one of those ubiquitous cash-out mortgage ads, except this one had a big difference. It warned that real estate prices are falling, so you had better “get the best mortgage you can and get cash out of your home as quickly as possible”. After all, you don’ t have much more time. The advertiser was Park Place Home Mortgage Corporation. If anything is going to cause panic in San Diego real estate, this is the sort of thing that will do it. Remarkable stuff.