Word: sellers
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...even last year's lowered prices. "In Los Angeles, one year ago, the median home price was $582,450; this September, it was $376,790," says Leslie Appleton-Young, chief economist for the California Association of Realtors. That may sound awful, particularly if you're the seller, but it may represent a clearance level - i.e., prices low enough to draw buyers - which the market needs in order to stabilize. Other helpful factors: banks are agreeing to short sales - i.e., selling below the mortgage amount - and renegotiating some mortgages. Still, foreclosures in the Los Angeles area are up 122% over last...
...Delao, 30, can't seem to find his way into this real estate market. Five months ago, the Roseville, Calif., case worker at a social services agency decided, after years of renting, that housing prices had finally bottomed. Since then, he has made offers on four foreclosed or distressed-seller homes. And while two of his offers were above the asking price, none have been accepted. He is not the only one being rejected. Of the four houses Delao has considered, two remain unsold. He made his most recent offer in late August, and is still waiting to hear back...
Likewise, Vicki Robin, author of the 1992 New York Times best seller Your Money or Your Life, which preaches a more fulfilling life through simplicity and frugality, had Penguin accelerate the publishing date for an updated version of the book from one year to three months. It will come out in December. "As the due date got closer, it became clearer to the publisher they wanted to get it out faster," says Robin, who was working on the rewrite when the Fannie Mae bailout hit. As for Robins' muse: "I'm slightly mystical and believe the universe asked...
...Secret Life of Bees In adapting Sue Monk Kidd's best seller about a white girl in 1960s South Carolina who finds refuge with three angelic black sisters, director Gina Prince-Bythewood weaves a warm, enriching spell. Dakota Fanning and Queen Latifah star in this honey of a film...
...Theological Seminary, a body of the Conservative arm of Judaism, puts it, "What any religious tradition calls on us to ask is, 'how can I make money and simultaneously be a responsible member of the society in which I live, protecting the interests of both the buyer and the seller?' Clearly that consideration was absent from this whole process...