California home sales increase from August 2007 to 2008. Good or bad news?

California homes sales from from August 2007 to 2008 are up, which could be viewed as positive except the number of “organic” sales as a percentage of total sales is decreasing. Link to a great article from Mr. Mortgage follows:

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Option ARM defaults may provide the next wave of foreclosures!

Check this out, Very Pertinant!!

Interest rates are at the lowest level since May!

Check out this exciting article on Interest Rates!!