Sales, median prices in July for California homes

The number of new and resale homes sold during June and median prices, with annual percentage changes, in selected California counties:

California home sales surged in July, prices fell

California homebuyers sprung to life in July, pouncing on foreclosed homes and deeply discounted properties but largely ignoring pricier homes that have been languishing on the market, a research firm said Tuesday.

This week's Web Winners: Winning in the housing market

In the distressed housing market, there are winners as well as losers. Here are some sites with strategies for winning at buying or selling a house in a troubled economy.

• http://www.philly.com/
• http://homebuying.about.com/od/buyingahome/qt/BuyFallingMkt.htm

Housing starts dip to lowest level since March '91

Construction of homes and apartments fell in July to the lowest level in more than 17 years, the government reported Tuesday.

Fannie, Freddie fall on renewed bailout fears

Whether or not the government is actually on the verge of taking over mortgage finance companies Fannie Mae and Freddie Mac, investor fears that a bailout is imminent could turn such a worst-case scenario into reality.

SoCal home sales climb in July, prices fall

Southern California home sales surged to a 16-month high in July as prices kept falling and bargain-hunters snapped up foreclosed properties, a research firm said Monday.

'Liar loans' threaten to prolong mortgage crisis

In the mortgage industry, they are called "liar loans" - mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job, and (no) assets."

Washington offers no relief for savers

Two giant mortgage companies get into hot water over risky investments. The government steps in to throw them a lifeline should they need it.

AP IMPACT: Weak rules cripple appraiser oversight

As soaring home prices set the stage for America's great housing meltdown, a critical step in making sure those home sales were a fair deal - the real estate appraisal - was undermined from within.

• Questions and answers on hiring an appraiser
• Inflated appraisal nearly cost family its home

Inflated appraisal nearly cost family its home

After 25 years as a doorman on Manhattan's Upper East Side, Carl Petrone was ready to retire from the cold winters and his daily commute.