WSJ: California High-End Housing in Trouble?

While sales of low-priced foreclosed homes are sparking bidding wars in some areas and there’s talk of healing in California, a huge storm cloud hovers over the Golden state: The high-end real estate market.

In California, delinquencies on jumbo mortgages, which are too large for government backing (and start at anywhere from $417,000 to $729,750) rose for the 33rd consecutive month in February, according to a report out from Fitch Ratings on Thursday.

Fitch says that 11.6% of prime jumbo loans in the state are 60 days or more delinquent.Click link for more.

http://blogs.wsj.com/developments/2010/03/12/is-californias-high-end-housing-market-in-trouble/

Thanks for reading!
Christine Van Tuyl
Prudential California Realty
Coronado, CA 92118
http://www.coronadoislandhomes.com