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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (168824)	12/3/2008 6:21:44 PM
From: DebtBomb	Respond to of 306849

4:10PM Cirrus Logic lowers Q3 rev guidance (CRUS) 4.23 -0.05 : Co issues downside guidance, sees Q3 revs of $42-45 mln vs $52.90 mln First Call consensus, down from $51-55 mln previously. In-line with previous expectations, gross margin is expected to be between 54 percent and 56 percent and combined R&D and SG&A expenses are expected to range between $22 million and $24 million, which include approximately $2 million in share-based compensation and amortization of acquisition-related intangibles expenses.http://finance.yahoo.com/marketupdate/inplay

To: Elroy Jetson who wrote (168824)	12/3/2008 8:10:28 PM
From: tejek	Respond to of 306849

While the sales of non-foreclosed properties continue to decline, the majority of sales are now foreclosed properties - selling at new low prices. That is not a formula for a bottom in market prices. There is a huge wave of foreclosures on the way which will continue to drive prices lower. I didn't mean to imply there was a bottom in prices. Usually sales bottom first followed by prices sometimes a year later. In the ground zero locations like CA and FLA, sales seem to be bottoming with sales up YoY. The median will stay low because like you said, many of these buyers are bottom fishing foreclosed homes getting released by the banks for sale. Its a beginning of what will be a long and probably multi year process.