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Breaking: SAN FRANCISCO (MarketWatch) — President Barack Obama declared the H1N1 flu outbreak a national emergency, giving officials the ability to bypass some federal requirements for battling emergencies, the White House said Saturday. … More than 1,000 people have died in the U.S. from swine flu, including almost 100 children, and the flu is widespread in 46 states. 1) Bank failures hit 106 for year; many more are weak (AP) 106 banks so far for 2009 and we still have November and

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Random Feed wrote an interesting post today on
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The Fed’s San Francisco unit notes foreclosure’s drag on the economy in the West in its 7th 2009 “ Beige Book ,” a Federal Reserve Board report on regional economic conditions that’s done eight times a year. We note no mention of foreclosures in the September Beige Book! The Fed’s latest take on Western real estate (Full report HERE !) … Reports suggested that demand for housing continued to improve slowly, while demand for commercial real estate eroded further. The pace of home sa

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Random Feed wrote an interesting post today on
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Wells Fargo & Co (NYSE :WFC) announced their third-quarter earnings Wednesday morning announcing $3.2 billion in profit for the quarter and also announced that it expects quarterly losses from non-performing loans to peak sometime during the loan. The strong earnings announcement from Wells Fargo was primarily attributed to its community banking profits and investment gains from mortgage gains, but the San Francisco based bank still faces significant losses from increasing numbers of delin

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Random Feed wrote an interesting post today on
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The Fed’s San Francisco unit says the West’s weak housing markets shows some signs of being on the mend in its 6th 2009 “ Beige Book ,” a Federal Reserve Board report on regional economic conditions that’s done eight times a year. (Fed called Western housing feeble in January!) The Fed’s latest take on Western real estate (Full report HERE !) … Housing market activity in the District remained weak but showed continued signs of improvement, while demand for commercial real estate e

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Random Feed wrote an interesting post today on
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During the height of the real estate market, most borrowers who applied for a mortgage received one. However, in today’s lending environment, consumers should be more cautious about where they apply for a loan and from which Web sites they receive quotes. I’m particularly leery of lenders my buyers find online. Generally speaking, these lenders are located outside of the Bay Area and usually even outside of California. Some of my buyers come to me already pre-qualified with a lender wh

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