• Orange County
    Wrangling the Wild West of O.C. Short Sales
    Short sales may be the next big thing as lenders try to avoid foreclosures in the distressed real estate market. But with no set rules or standard procedures - buyers and sellers never know quite what to expect.
  • Riverside County
    Corona Mansion: Got Built But Nobody Came
    Manny Valencia wanted to create an enclave in Corona, California where the rich would come to play. Now, he has a beautiful mansion with a nearly $10 million price tag, and no one willing to buy it.
  • Riverside County
    Riverside Housing Market: A Speculators Swap Meet
    Housing prices in California are showing signs of stabilizing. Except in Riverside County, where the indicators continue to point down, down, down.
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    Sunset Boulevard
    A $10 Million House Isn't What It Used to Be
    Frank Zappa said it almost forty years ago, "It can't happen here." And indeed, for the first couple of years of the housing downturn, the high end market seemed immune. That's now changed, and even as more modest homes are starting to sell, upscale houses are are lingering unsold.
  • Antelope Valley
    A Monument to Palmdale Housing Bust
    Two years after the housing market peaked in Palmdale, one development is still ready for construction crews to arrive and start building. The two model homes stand alone in the sand, waiting for real estate agents to give tours. Instead, their windows and doors are boarded up with plywood. The pipes and wiring have been purloined by scavengers. And rather than homes for growing families, they have become hangouts for local gangs.
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    Orange County
    From Bubbly 'Burb to Foreclosure Ranch
    Nearly half the homes on the market in the exclusive south Orange County community of Ladera Ranch are either bank-owned or up for short sale. The situation will only worsen if a predicted second wave of foreclosures hits this year.
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    Ventura County
    Closing One Door. Opening 30 Others.
    When investors planning to turn a run-down motel into high-end condos ran into the housing downturn, they did a turn of their own. Instead of an upscale, glitzy development, the builders went back to the drawing board and created 30 units of much-needed low-income housing.