More breaking news for all of you in California…..specifically Orange County.

“The OC”, as its know internationally was the epicenter for the sub-prime meltdown. Several of the nations largest Sub-Prime lenders were based…in The OC. It seems that the housing prices are losing virtually all of their bubble induced appreciation. In other words, homes are tracking to be worth what they would of sold for in 2000-2001. For the millions of homeowners caught in the downward depreciation death spiral this continued ‘correction’ is bad news indeed.

If you (or a client) are in this situation know this….you can modify your mortgage. Watch this free video how to modify your own mortgage. Literally, reduce your house payment now and save thousands per year. AND, offer this service to others. Start your own Mortgage Modification Business now. Here is the link to the free video to get you started.

DataQuick’s median selling price for an Orange County home was $400,000, the lowest since since May 2003. Note:

• Bottom of last cycle was $184,000 in January and March of 1996.
• Peak of this next cycle was $645,000 in June ‘07. That was a 251% or $461,000 gain.
• Reversal to November is a drop of $245,000 — or 38% — below the peak.
• That means 53% of the 1996-2007 profit has evaporated.

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