Diaper Rashes Gone with Vusion

Does your baby EVER get a rash? My oldest use to get it so severely from just about everything. There was simply nothing we could do for him except let him go bare bottom since diapers seemed to be the culprit. He seemed to be allergic to any brand of diaper, from the most expensive to the cheap store bought type. I couldn't WAIT to get him potty trained. I found out through MomCentral that today

~* Some New Goodies *~

Over Labor day weekend I went to the 15th Annual Pennsylvania Arts and Crafts Colonial Festival at Westmoreland Fairgrounds. There was one booth in particular that was my favorite called Vickis Country Creations. Here is what I bought that day: Stacking Boxes with the words Love, Faith and Hope.

I only paid $4.99 for all three!

Potpourri to fill my yard sale find canning jars that I made into candle holders.

And, this adorable pillow! I hope you enjoyed looking at my craft show finds...thanks for stopping by!

~* My New Candle Holders *~

I found these great little canning jars for .25 cents each several weeks ago at a yard sale. I wasn't sure what I wanted to do with them, then it hit me...make them into candle holders!

I found primitive looking candles and pip berry candle rings with rusty stars and ta da...just what I've always wanted!

As always, thanks for stopping by and for all of your sweet comments on my last post!

Cityofoceanshores.com Newsletter ~ 08.2008

Summertime at the Beach!

Ocean Shores hosts some of the best birding locations on the West Coast with more species per location than possibly anywhere else in Washington. Currently, large flocks of brown pelicans are putting on spectacular displays, diving into the bay and surf along the coast. Hundreds and hundreds of pelicans migrate through our area between June and November and it's not unusual to see flocks of 30 to 40 at a time. If you're not really into watching birds, I'm with you. But these guys, they're cool to watch.Ocean Shores Real Estate Update

Here are some stats I recently pulled from the NWMLS website. All year-to-date (YTD) stats are based from January 1st through August 26th. These numbers do not include pending or contingent status properties. These are sold/closed properties only.



HOME SALES YTD

2008 - 135 sold at an average sales price of $204,357 or $148 per square foot.

2007 - 155 sold at an average sales price of $210,322 or $154 per square foot.

2006 - 174 sold at an average sales price of $204,119 or $152 per square foot.

My summary: average prices seem to be holding okay while the number of transactions is down. No surprises. It's also taking longer to sell: In 2006, it took on average of 125 days to sell your house. In 2007, you needed 173 days and in 2008, it's taking 190 days to sell a house. Another item worthy of mentioning is that out of the 135 homes sold so far this year, 59 of them were built between 2005 and 2008. That's means that almost half of all home sales this year in Ocean Shores were brand new or homes built in the last four years.

LAND SALES YTD

2008 - 143 sold at an average price of $50,966.

2007 - 214 sold at an average price of $56,380.

2006 - 271 sold at an average price of $53,880.

My summary: again, average prices seem to be holding. Land sales are way down and are almost being passed up by home sales for the first time in a long time.



CONDO SALES YTD

2008 - 14 sold at an average sales price of $262,714 or $249 per square foot.

2007 - 30 sold at an average sales price of $170,163 or $194 per square foot.

2006 - 60 sold at an average sales price of $165,729 or $200 per square foot.

My summary: Wow, condo sales are still not good. The average time on the market for 2008 is 413 days to sell. It was 186 days in 2007 and only 93 days back in 2006. Prices are up in 2008 due to a few sales in the high end, ocean front condo market. Other than that, the condo market in Ocean Shores is in trouble.

The Boardwalk Shops of Ocean Shores

The Boardwalk Shops of Ocean Shores is a new retail condominium complex that is now pre-selling phase 1 and they've already got commitments for 5 of the 7 units available. Now that's some good news in local real estate and it's not even my listing! This project is an exciting opportunity for Business Owners & Investors to own an affordable high visibility retail unit centrally located in downtown Ocean Shores on Point Brown. This Complex features 7 individual units connected by an extensive boardwalk. All units have metal roofs, bead-board walls & wood floors to create an authentic beach town feel. Want one? Email me. Groundbreaking is happening any day now.



Upcoming Events

Associated Arts of Ocean Shores Arts and Crafts Festival

Friday, September 5 - Sunday, September 7, 2008An end of summer annual event. Visit one of Western Washington's largest indoor & outdoor handmade arts and crafts fair. 1,000's of unique items are showcased by gifted artists and talented craftspeople. Admission is free



Paddle the Shores

Friday, September 26 - Sunday, September 28, 2008North Bay Park, lakes & canals. Attention kayak, canoe, and rowing enthusiasts. All Skill levels are welcome! Human-powered boat activities on the lakes and canals of Ocean Shores. Race, Poker Paddle, picnic, seminars and the latest in paddling gear at end-of-season prices.



Whale of a Quilt Show

Friday, October 3 - Sunday, October 5, 2008The Sea-Pal Quilters of Ocean Shores, "Whale of a Quilt Show" offers boutique vendors, handmade quilts, demonstrations, and quilted items. The show is judged and prizes are awarded. Free admission, donations welcome.



Cat Fanciers' Association Cat Show

Saturday, October 25 - Sunday, October 26, 2008

A cat show is composed of a number of separate, concurrently running, individual shows held in the various judging rings throughout a show hall. 120 W. Chance A La Mer Ave. Ocean Shores, WA 98569

News

New Fire Station Going Up

The Ocean Shores City Council recently approved a storm water system which means the city can develop a construction schedule for a new 20,000 square foot fire station, located south of the current station on Point Brown Avenue. According to fire chief, Jim Hodges, he hopes to start putting in foundation for the fire hall by mid-September and have the project completed sometime in February, if weather permits. The old fire station is garbage because the foundation sits on rotting logs beneath a pit of sand which is causing the ground to sink. The garage floor is mounded, with the center several inches higher than the floor near the wall. The rear wall of the garage has separated away from the building, creating the potential for collapse.A Roundabout at the Angry Intersection?The City Council also recently approved a design recommendation from the Public Works department on a roundabout that will be constructed next year at the intersection of Chance a la Mer Boulevard and Point Brown Avenue. The design will include a 34-foot wide median, a five-foot wide bicycle lane, and 10-foot wide sidewalks. (note the little green donut thing at the top right part of the picture - that's it.)

New Water Coming Soon?

Grays Harbor County Commissioners recently approved taking a $3 million loan to construct a new water system at Hogans Corner, between Hoquiam and Ocean Shores (just outside of Ocean Shores). The project is specifically geared to providing drinking water to existing development in the area as well as spurring on more building, specifically a proposed 542-acre resort and golf course that until recently had been stalled by a state-mandatory building moratorium. "The first line will bring in water to the state park, which will benefit the casino and all of those in Illahee and Oyehut and we're working with the City of Ocean Shores on an agreement for them to purchase water," Commissioner Al Carter said.

Permit Issued to Study Wind & Wave Power of the Coast

The Federal Energy Regulatory Commission has issued a preliminary permit to grant the Grays Harbor Ocean Energy Co. the exclusive right to conduct a feasibility study for generating power from wind and wave energy on a 28-mile stretch of the Pacific Coast from Ocean Shores to Grayland over the next three years. The permit, issued Friday, does not authorize any construction.

The project foresees as many as 90 260-foot tall steel wind turbines, as well as wave energy converters to convert ocean waves and wind into a renewable source of energy. The project could supply enough energy to power the entire Olympic Peninsula and make Grays Harbor one of the largest producers of renewable energy in the world, according to Burton Hamner, president of Hydrovolts, Inc.-the creator of the Grays Harbor Energy Co. Hamner also said the project has the potential to create numerous jobs within the county because the renewable energy equipment would be manufactured locally.

The feasibility study will seek to find out if the turbines would affect gray whale migration patterns and flight patterns of birds, according to Hamner. Hamner said the study will also examine whether or not the locations of the turbines could limit the areas in which fisherman can fish. Even after the feasibility study is completed, it would take about four years to begin construction, Hamner said. - source - The Daily World

Jeff Daniel

Associate Broker

Coldwell Banker Ocean Beach Properties1.360.581.9020 (cell) - 1.888.469.3100 (toll free) - 1.360.289.3111 (fax)

PROPERTY SEARCH: http://cityofoceanshores.postlets.com/

PROPERTY SEARCH: http://homepages.com/JeffDaniel/AgentHome.aspx

OCEAN SHORES INFO: http://www.cityofoceanshores.com

OCEAN SHORES BLOG: http://oceanshoresrealestate.blogspot.com

OCEAN SHORES BLOG: http://activerain.com/jeffgdaniel

Store Shopping & a Nature Walk

We had quite the day yesterday, first off I ran out of all my caffeine. EEEEKKK! Right? I had no clue I was running low on tea and finished off my last soda, I had grabbed a soda just yesterday morning at the gas station...only problem, it was DIET! Which of course means I did NOT drink it. Ikk.So, what does this mean for someone that doesn't have a car and does have two small children? It means

~* The Spice Cupboard *~

I was finally able to post some pictures today. As you can see, I'm getting my spice cupboard filled up, but I still do have room for 3 more spices (one on each shelf). I just love how colorful the tins are.

These are the items I added to the top of the cupboard. I bought them at Collections By Marty which is one of my favorite stores.

As always, thanks for taking the time to stop by and visit me!

Green Works Makes Your Kitchen Smell Great!

My kitchen smells fruity and I'm not baking anything or spraying the counters with some chemical like I normally do. Instead I just did dishes. I know how silly that sounds but it really smells that good and it is a "green" dish soap so I know it isn't harmful to my kids or the house at all. Actually I even prepared the other sink for my next set of dishes just so I could leave the house smelling

August Giveaways (Thursday)

Not much this week folks but hopefully someone writes me and tells me that they won something. :) Hey come one, I know some of you do. Elizabeth over at MomReviews has some nice goodies to giveaway. Head on over and win Laurie Berkner or a ClickToyThis next one I'm totally copying from the email:Call 1-800-THE-INFO, a free alternative to the 411 directory service, and ask for the business info/

~* Darn It To Heck *~

I had planned on posting some pictures today, but for some reason my internet is not cooperating with blogger. I wanted to show you the spice tins I added to my spice cupboard. I also added a few little things on the top of the cupboard from one of my favorite local stores Collections By Marty. I went to several yard sales a couple of Saturdays ago and found some great things all for under $10.00 and I can't even show those to you.

*~*~*~*~*~*~*~*~*~*~*~*

Thank you Leslie, Adrienne, Cherry, Valerie, Anne F., Alice Grace, Kelli, Rondell, Carolyn, Heidi, Kim, Dawn, Shayne, Robin, Mary, Sharon, BackInTheDay, Penny, Jen, Colleen, PrimLover/FarmGirlDreamer, and Michelle for leaving me such nice comments about my freebie! I went to a yard sale at the home where I picked up the freebie and found more great items really cheap.

*~*~*~*~*~*~*~*~*~*~*~*

I started a new blog. If you want to take a look then click on the link that says "Home Is Where The Heart Is...2" above.

*~*~*~*~*~*~*~*~*~*~*~*

Debi from What's Cook'n In Junk gave me an award and I wanted to thank her from the bottom of my heart...that was so sweet of you. She gave it to me back in July, but my absentmindedness (or old age...lol) got in the way of me thanking her.

It's so hard to choose who to pass this on to, so if you have not been awarded this yet, please add this award to your blog!

*~*~*~*~*~*~*~*~*~*~*~*~*

Graphic by http://www.gonecountrygraphics.com/

Wordless Wednesday

Well school started yesterday which means the two youngest are home. Don't think this just means I can sit around. BabyGirl still wants to be homeschooled. Yesterday was so much fun, we read the Kissing Hand and even went on a nature walk. They spotted this (what I'm guessing is) rose bush and had to look at it. Doesn't it just look like a nice day? Here is my not-so-wordless Wednesday. Visit

August Givaways

Gear up for more giveaways, now with the kids back in school there is so much more free time that even I can play along and enter. So feel free to send me your link to your giveaways or post them in the comments. Hey sometimes I miss a few or they hit my spam box. Here's the email though: homemom3@gmail.comFilm Gecko (Jane) always has those great DVD giveaways and she has them this week too. My

Suave Shampoo, Like Stepping Out of a Salon

Wow, recently I got to review/try out the new Suave Professionals package, that may not be what it is called but that's what I'm calling this box. It came with all types of goodies that myself, hubby and kids enjoyed. What was it? Shampoo, deodorant, conditioners, styling foam and hairspray.My box of goodies: Travel size Suave Naturals Tropical Paradise invisible solid Deodorant.Full size Suave

This Lawn is Your Lawn

I'm of the mindset that every household should have a vegetable garden. This is not a new idea as Victory Gardens were encouraged as a way to save energy and keep people fed during World War I and World War II. Twenty million of these gardens existed producing 40% of the vegetable produce consumed nationally in the United States. Planting a vegetable garden was seen as a national duty.I hope

1st Day of School & Homeschool Too

Wow, can you believe it is the first day of school? Well this morning was a rough start, even though everything was planned out the night before we were still going nuts around here. I think it was just that first day of school jitters though, the two oldest were picking at each other left and right. But soon everything was ready to go and I was about to release them to the world...okay not

Individual indicted for animal cruelty for leaving dog in car

Planostar - August 16, 2008

Despite constant community awareness, the Plano Animal Services reported one death and cited 17 individuals for leaving their animals unattended in their vehicle this summer.

With the peak temperature this summer reaching a scorching 110 degrees, Jamey Cantrell, Plano’s Animal Services manager, said he does not understand why this problem continues to occur.

“This is something that happens more frequently than it should,” Cantrell said. “I don’t understand how people think. It is beyond me.”

Cantrell said in July alone, the one death and 10 of the 17 citations were issued.

“People will normally leave their windows cracked and think this is enough, but it’s not,” Cantrell said. “A dog cools themselves by panting. If it’s that hot and humid, they can’t cool down. Their temperature rises significantly. It’s sad people think their animal is going to be OK.”

According to reports, on July 4, a woman left her Scottish Terrier in her vehicle in direct sunlight for nearly three hours while inside the Denny’s located on U.S. 75.

When police arrived, the dog’s body registered at 115 degrees.


Full Story

Murderer Gets Pizza with Life Sentence

Now I've heard of dropping charges when a murderer tells the stories of how someone was killed but never pizza and calzones for life. To top all this off he even got married this past week, I guess he's thinking of those visits. This whole story sounds bizarre to me, I still can't figure out how he gets to request all this when he was the one killing someone! What's your thought?

Book Review: Dangerous Days of Daniel X

Mother-Talk sent us a book by James Patterson to review called, "Dangerous Days of Daniel X." I won't lie, I was intrigued that James wrote a book like this geared towards children. I've read his books before and thought it would be interesting for my son, who's just began to love reading, to read his books. Hey, if he likes it he might like the others I've got.My son is the one that has read

I've Been Tagged

I've been tagged! DG from Food and Garden Dailies tagged me today. Hmm, this is my second tag so hopefully I play the game correctly :)Here are the rules: 1. Link the person who tagged you.2. Mention the rules on your blog.3. Tell about 6 unspectacular quirks of yours.4. Tag 6 following bloggers by linking them.5. Leave a comment on each of the tagged blogger’s blogs letting them know that

When Do you say Enough?

Some of you know of some issues I've been dealing with at home, some of you don't. For those that do, at what point do I say enough is enough and leave? It is such a hard decision but one I really think I must contemplate. I love this man with all of my heart and soul, but he does not love me the way we once shared. Just look at the love in that picture, truth is the attraction soon died after

Noodleboro Game a Great Family Game

If you are anything like me you are constantly trying to find fun and educational games for your kids. Many times those games tend to be a bit too educational for my preschooler. Ever have that problem? Well recently MomCentral asked if I wanted to review a preschool game called "Noodleboro."I got the package and immediately the kids attacked it. Babygirl loved it so much that she is always

Weekend Sales & Fun

After shopping last week at Walmart I was so impressed that I ended up buying another magazine so we went back yesterday to shop. I won't lie to you, we normally shop VERY cheap and don't get many name brand products. But since I had these freebies we did and loved them, with the kids LOVING Koolaid I can't go wrong and went back to stock up.I did learn that not all the cashiers understand the

Put Your Bread Maker to Good Use

If your bread maker has been gathering dust in a cupboard, pull it out and come with me on a bread making adventure. It was with mixed feelings that I opened my new bread machine on Christmas morning a few years ago. I'd never been that fond of bread, and in a two-person household we go through less than a loaf a week. I smiled politely. "Wow," I said. I’d heard that without preservatives, bread

Bindweed

Bindweed(Convolvulus arvensis)Bindweed (Convolvulus arvensis) is a member of the morning glory family. It is a very invasive, spreading weed that can be introduced to the garden through soil and roots. Quite frankly I think bindweed is rather pretty with its small trumpet shaped white flowers with faint pink stripes. It covers wires and chain link fencing nicely but it is still considered a

I Bought $20 worth of Food and paid $5

I recently learned about CVSing (going to the store called CVS and using the card and playing the grocery game, more on that later), which brought me to several other blogs about couponing and how everyone pays for tons of groceries for very little money. To be honest I use to use coupons, back when I first got married and we had a store that did Double coupon days. But since then I stopped the

Petunias

Common Garden Petunia(Petunia x hybrida)Very few gardeners are unaware of the common garden petunia (petunia x hybrida) with their beautiful showy, cascading trumpet shaped flowers. These plants are members of the family Solanaceae (nightshade plant) that originated in South America and are thought to be a hybridization between P. axillaris and P. integrifolia. There is a wide variety of

A Lazy Blogger

Today, thanks to Dawn Diversions, I found The Lazy Blogger and had a bit of fun with it. This post below is actually made up. Of course you'll know that after reading the first paragraph, I mean I don't even know where the Fijian beach is. heheOMG! I just returned from my daily swim on the beautiful Fijian beach and realised I have not updated this since you last visited... You would not believe

Simply Chic is CHIC

I love getting stuff in the mail, especially when it is free and something new to try. But my favorite thing has always been pens and notebooks, I'm not kidding either. Growing up when it came time for Christmas or birthday lists I always put books, pens, paper, stamps, etc. No one ever did buy me these things even though they were something I really wanted. So when I was asked by to review the

Zillow measures homeowners' perception gap

Zillow measures homeowners' perception gap

Just like with most of life's unpleasant realities, the majority of Americans think the nation's housing crisis is something that happens to the other guy.
That's according to a survey of more than 1,300 homeowners conducted by Zillow. Two-thirds of homeowners believe their house has increased in value or remained the same in the last year. Yet, these same folks acknowledge the existence of foreclosures in their neighborhoods and believe that more are on the way.
The results even gave the Zillow people pause.
"We attribute this gap to a combination of inattention and a fair bit of denial that causes people to believe their home is insulated from the woes of the market that affect others, but not them," says Stan Humphries, Zillow's chief of data and analytics.
Zillow, of course, is the website founded by the brains behind Expedia that came on strong more than two years ago with its clever algorithms that assign a "value" to nearly every house in America. Initially, the site was a bit disappointing because, at least in many parts of Southern California, its estimates seemed wildly off the mark.
Since then, reality has caught up with Zillow, if not its homeowner-users. The company's data now appear to be in line with most other research that shows the vast majority of U.S. houses lost value in the last 12 months.
One of the more interesting findings of Zillow's latest survey shows that homeowners in the West seem to have a slightly better grip on the housing reality. More than half -- 56% -- of Western homeowners believe their home value had indeed declined in the last year, versus 38% of homeowners overall. (See the graphic above right.)
Maybe that's because homeowners here are facing a harsher reality. After years of tremendous price appreciation, the stinging face-slap of rapidly depreciating values has brought homeowners to their senses.
-- Annette Haddad
Graphic: courtesy of Zillow
Questions? Comments? Email annette.haddad@latimes.com

California's Discount Foreclosure Sales Point to Housing Bottom

California's Discount Foreclosure Sales Point to Housing Bottom
By Dan Levy and Daniel Taub

July 31 (Bloomberg) -- California led the U.S. into the worst housing recession since the 1930s. Now the most populous state may be the first to find the bottom.
In Stockton, the U.S. metro area with the highest foreclosure rate, home sales more than doubled in the second quarter after prices fell by an average 37 percent, said PMZ Real Estate Corp., the area's largest broker. Across the state, sales rose for three consecutive months starting in April after 30 straight months of declines, the California Association of Realtors said. About 40 percent of those transactions were foreclosure sales, DataQuick Information Systems reported.
``California is having a wrenching decline in wealth, but this is a cathartic event that will lay the foundation for a recovery,'' said Mark Zandi, chief economist at Moody's Economy.com in West Chester, Pennsylvania, in an interview. ``This signals the beginning of the end.''
Almost $1.3 trillion of homeowner equity was lost in California since home prices peaked in December 2005, Zandi said. Discounts of as much as 50 percent will extend into 2010, helping clear a glut of foreclosures and leading to a more balanced housing market, said Ryan Ratcliff, an economist at the Anderson Forecast at the University of California in Los Angeles, and Christopher Thornberg, principal of Beacon Economics LLC in Los Angeles.
``Half off in a decent neighborhood is close to the bottom,'' said Bill Gross, co-chief investment officer of Newport Beach, California-based Pacific Investment Management Co., manager of the world's biggest bond fund. Property markdowns of 30 percent to 40 percent give the market ``price illumination if not sunshine,'' he said.
`Beginning to Happen'
California led the U.S. in default notices and bank seizures for the 18th straight month in June and had seven of the 10 metro areas with the highest foreclosure rates, according to Irvine, California-based RealtyTrac Inc., which sells default data. That drove down prices and led to ``discounted distressed sales,'' with two-thirds of transactions under $500,000, compared with 40 percent a year earlier, the California Association of Realtors said.
The amount of time it would take to deplete the supply of homes decreased to 7.7 months from 10.2 months a year earlier, and the median price fell 38 percent to $368,250 last month, according to the Realtors.
``Things are beginning to happen,'' said Karl Case, professor of economics at Wellesley College in Wellesley, Massachusetts, and co-creator of the S&P/Case-Shiller home-price index. ``We're not going to get reestablished in a stable market unless that inventory gets cleared out.''
Birth of Subprime
California led the boom in the U.S. housing market, as prices in the state more than doubled from 2000 to 2005, fueled by historically low interest rates, according to the Chicago-based National Association of Realtors.
As values soared, California gave birth to the subprime mortgage industry that specialized in lending to borrowers with poor or limited credit, who often used them to buy homes they couldn't afford, said Stephen Levy, director of the Center for the Continuing Study of the California Economy in Palo Alto.
Subprime products included ``zero-percent'' loans that needed no down payment, adjustable-rate mortgages, known as ``exploding ARMs'' because low interest rates rose after two or three years, and ``Alt-A'' or ``no-doc'' loans requiring no proof of income.
Almost half of the 25 biggest U.S. subprime lenders were based in the state, including New Century Financial Corp. in Irvine and ACC Capital Holdings in Orange, and a quarter of the country's subprime loans were issued there, more than in any other state, according to Inside Mortgage Finance and data from San Francisco-based research firm LoanPerformance.
County Breakdowns
Defaults on those loans began to accelerate in 2006, helping to push California into the lead in foreclosures.
Foreclosure sales accounted for 75 percent of June's total in Merced County, home to the Merced metro area with the country's second-highest foreclosure rate; 72 percent in Stanislaus County, home to the Modesto metro area with the third-highest foreclosure rate; and 66 percent in San Joaquin County, home to Stockton, data from DataQuick in La Jolla, California, and RealtyTrac show.
Sales of foreclosed properties equaled 63 percent of the total in Sacramento County, 62 percent in Riverside County, 58 percent in Solano County, 57 percent in San Bernardino County and 49 percent in Contra Costa County. Prices dropped as much 37 percent in those counties, DataQuick reported.
`Seen the Light'
About 1 million U.S. homes will be in some stage of foreclosure by the end of the year, and properties seized by banks will eventually sell at an average discount of 30 percent to 33 percent, said Rick Sharga, executive vice president for marketing at RealtyTrac.
Discounts will be higher in areas such as Stockton, about 80 miles east of San Francisco in California's agricultural Central Valley, and Riverside, 50 miles east of Los Angeles, that experienced above-average levels of new construction at the peak of the housing boom and where lenders made a disproportionate number of subprime loans, Sharga said.
PMZ, the Stockton-based brokerage, closed 1,707 home transactions in the second quarter, about 80 percent of them foreclosure sales, said Michael Zagaris, the company's president. Foreclosed homes are now getting multiple bids and the supply of homes for sale in San Joaquin and Stanislaus counties shrank to 4.9 months in June from 18.2 months a year earlier, he said.
``We've found the bottom,'' Zagaris said. ``The financial institutions have seen the light and are allowing the market to find its own level.''
Loan Values
Bank-owned properties attract investors who can rent out the homes for 10 percent of the purchase price annually, said Sean O'Toole, founder of real estate auction Web site ForeclosureRadar in Discovery Bay, California. ``Those deals are starting to pop up and putting a floor on the market,'' he said.
Bruce Norris, president of the Norris Group investment firm in Riverside, said he purchased foreclosed properties for one- third of the outstanding loan value during the past two months.
Norris bought a three-bedroom home in the Moreno Valley section of Riverside for $106,000, a 65 percent discount on the $300,000 loan held by Bear Stearns Cos., now part of JPMorgan Chase & Co. He got a 61 percent discount on a home with $258,750 in loans held by Deutsche Bank AG, and a 63 percent discount for a home with $324,000 in loans held by Morgan Stanley, he said.
``The banks are stuck wholesaling to people like me,'' Norris said. ``They are starting to move product faster than the market would normally allow.''
Housing Bill
Banks will foreclose on about 700,000 properties with subprime mortgages this year, more than double the number a year ago, Sharga estimated. The increase is prompting overwhelmed banks to hire more workers to process purchase offers.
Executives from Charlotte, North Carolina-based Bank of America Corp. and Wells Fargo & Co. in San Francisco told Congress last week that they've accelerated the pace of loan modifications and added personnel to help homeowners avoid foreclosure. Wells Fargo, which services one in eight U.S. mortgages, expanded its staff to more than 1,000 from 200 in 2005.
The housing bill signed by President George W. Bush yesterday is intended to stem foreclosures and includes a program backed by the Federal Housing Administration to insure as much as $300 billion in refinanced mortgages, including many subprime loans.
Housing in Stockton and Riverside sprang up during the boom as builders purchased cheap land and potential buyers sought affordable homes away from expensive coastal cities, said Levy at the Center for the Continuing Study of the California Economy.
Stockton Couple
Inland home values mirrored coastal gains until a wave of ``insane'' subprime and Alt-A mortgages started in 2005 and resulted in record defaults, Levy said.
``All of those markets suffering from higher foreclosures are where prices went too high and leverage was applied too excessively,'' Pimco's Gross said. The housing bill will ``put a floor on certain mortgages'' and help stop price declines, he said.
Homeowners like computer consultant David Imig and his wife, Deborah, who live in the Stockton area and owe more than their house is worth, aren't helped by the bill. They paid $462,000 for a three-bedroom at the market peak in 2005. Now, their neighbor's foreclosed home is on sale for half its original price.
``We're a good $100,000 down,'' Imig said. ``If we could move without taking a huge bath, we would.''
Past Busts
Previous California housing busts had roots in local economic woes and U.S. monetary policy. The state lost 350,000 jobs in the early 1990s, about two-thirds in the aerospace industry, according to the Cato Institute and Los Angeles County Economic Development Corp. Home prices tumbled 12 percent. In the early 1980s, existing-home sales dropped 61 percent amid interest rates of more than 14 percent and a national recession, the state Realtors said.
California may rebound more quickly from this decline than regions with fewer delinquencies and vacant homes, according to Zandi of Moody's Economy.com. The foreclosure process is ``more efficient'' than in states such as Florida where courts are involved, and Californians are typically ``more optimistic'' about housing after experiencing busts that were followed by property booms, Zandi said.
``They know it's going to be a good investment five or 10 years down the road,'' Zandi said. ``The fundamentals are good: supply constrained markets with lots of population growth, a solid and diversified economy and important global links'' in Los Angeles and San Francisco, he said.
`Bidding War'
It may take until 2010 for foreclosure sales to work their way out of the system in areas where defaults have soared, said Thornberg of Beacon Economics.
``Those sales are going to have a very large impact on prices for the next year or so until those homes get absorbed by the market,'' he said. ``Housing markets don't bounce, they splat. They hit bottom and they stay there.''
That's good news for buyers like Peggy Thorpe. She outbid seven offers for a foreclosed house in Vallejo, east of San Francisco, and still got a 34 percent discount. It was the sixth time since May she made an offer for a home in foreclosure.
``This time I jumped higher,'' said Thorpe, 43, who works at a vineyard in Napa and paid $190,500 for the three-bedroom home with a loan balance of $289,000. ``There's an extreme bidding war right now.''
To contact the reporters on this story: Dan Levy in San Francisco at dlevy13@bloomberg.net; Daniel Taub in Los Angeles at dtaub@bloomberg.net

Kids Give Disney Block Party A Thumbs Up

Disney and Momcentral teamed up and sent several reviews some great CD/DVDs to listen/watch in honor of their Disney Music Block Party Tour. I must say the kids thought it was Christmas or that I won something from Disneyland this time. Course BabyGirl (we haven't watched tv in a few months) thought Disney sent her some movies she could watch on the TV. I quickly informed her that these were

Wordless Wednesday

He actually flipped this to its side and began what looked like he was working on the gas tank. He had a tiny toy tool and kept sticking it in there making some noises. Happy WW! View other WW at the Hub or 5minutesformom.

August Giveaways

Here's a quick list of giveaways from around the blogosphere, if I don't mention yours feel free to mention it in the comments. If you'd like me to host one for you or review a product drop me an email at homemom3@gmail.comA Mom's Review is having a Joy is the Greatest Gift Book Contest, hurry over to enter.Ya'll love chocolate so head over to Chocolate Bytes and enter to win a pack of 2oz

~* Look What I Found *~

While driving my dd to her friend's house today I spotted one of those step stool/chair/ironing boards sitting by the side of the road. It was perched beside a garbage can...of course as soon as I saw it a little light bulb went off in my head...they must be getting rid of it. Then I think to myself why would anyone put something like that out for the garbage man to collect? So I drive by it again and think, no, they must have made a mistake and didn't mean to set it out by the road. Then I think what if they really did put it out to be picked up...I cannot take the chance of letting it slip through my fingers...I decide to go by the house again and stop...by now my heart is pounding...I'm going to stop and politely ask if they meant to put it out for the trash. I knock and no one comes to the door. I know they're home because I can see lights and there are two cars in the driveway. I start to knock again and the door finally opens...I ask them about it and they tell me I can have it! They're moving and didn't have any use for it. I cannot tell you how happy I am...I've wanted one of these for so long, but didn't want to spend alot of money on one. The kind lady told me that the hinge on it needs some work, but I tell her that my husband is very handy and won't have a problem repairing it. It looks like it is solid oak (feels like it, too). It is now in my husband's workshop...I wonder what he'll say????

*~*~*~*~*~*~*~*~*~*~*

Thank you for all of your kind comments about my new little spice cupboard. I still need to buy more spices to fill it up!

*~*~*~*~*~*~*~*~*~*~*

Are we in a Recession?

I'm joining in the talks about whether we are or are not in a recession, honestly I feel we are and within the next few years it'll show even more than it does now. Right now we are only at the beginning so for all those that don't believe, they'll soon be joining those of us that know.An example: Look at all those houses on the markets, the neighbor next door that has to move out because they no

My Redbox makes Me Sad

Ya'll know how much I LOVE my little Redbox machine at Walmart and McDonald's but for the past two weeks they've really disappointed me. All those new movies that are suppose to come out haven't even made it into the box. :( This means I have no new movies to share with you. Well, I did watch College Road Trip and I really did like it, even though I thought I'd hate it since it was more of a

Scrubbing Bubbles Action Scrubber Tour

I was lucky to receive the Scrubbing Bubbles Action Scrubber to try out, I'd seen these appearing on the stores and had wondered about them. I'd used Scrubbing bubbles spray before and loved it, use it all the time on my bathroom. But I'm a bigger fan now, the action scrubber is actually a great product I can see myself using more often. Oh but don't tell the hubby, he'd stock up on them.

Making Money with Lemonade

Many of you know that it is easy to make money online through selling things, well recently my son read an article in the paper about a boy making money online through something called, "Lemonade Stand Online" where he would place a little graphic in his sidebar that displays products you can buy. If you click on the products and buy them he earns 80% of the profit. So he's really excited and I

TV through Parenthood

I just got done listening to my oldest two children talking back and forth. ABOUT ME? My AGE? Or I guess you should say how old they must really think I am and get this, they were dating me through the televisions. Wondering about that? Take a peek through history as my kids talked:SoccerBoy: Did you know mom didn't have a tv like we have when she was a kid?BalletGirl: What do you mean? Of course

$25 Build-a-Bear GC Winner

Oh man, I don't want this to ever end, this has been so much fun reading all the entries for the $25 Build a bear GC. I do plan on writing up a list of everything all liked, but that might take a few days. I'm very happy with our "High School Musical Bear" from Build-a-Bear and I'm sure Memarie Lane (winner) will love spending her Gift Certificate. I'd really love it (if possible) you could post

Lands' End Backpack Winner

This took me forever to count, but the winner of the Lands' End Multi backpack is:I think I'm in love with those All-Terrain Mary Janes! Lands End has great prices for excellent quality! We'd love this backpack at our house! Thanks! # posted by pjmomof3boysCongratulations! Please email me at homemom3@gmail.com with your address. :) I hope ya'll had a lot of fun.

Cocoa Puff Combos Winners

Sorry this is a bit late but as you know it was BabyGirl's birthday and she turned the big 5 so it was a special one. Okay here is the two winners for the Cocoa Puffs drawing.exotic1Happy Birthday to your daughter~! Hope you both enjoy your day together. On a day you both should be celebrating and receiving you are giving and that is so sweet of you. My kids love Trix and Cocoa Puffs both of them

Precious Moments Winner

Wow, I can't believe how many people have turned up to sign up for little old me's giveaways. Okay, that sentence sounded better in my head I'm sure. But we have our winner for the first Bloggy Giveaway, the Precious Moments. I wish I could give every one of you a gift, but I can't, so sorry. Now as I stated I'd use the random.org to generate my number and it was NO FUN counting every one of them