Real estate news

Thee hasn't been much real estate news at Palermo Palm Springs of law. Two homes on Penny Lane and on Melody Lane have been in short sales or foreclosures but it appears they may be off the market now, as the signs are gone. News from the paper: The number of Riverside County homes that fell into foreclosure last month jumped 14 percent, pointing to "a bumpy ride down to the bottom of this foreclosure cycle," a real estate tracking firm reported today. A total of 4,406 mortgage default notices, auction sale notices and bank repossessions were recorded countywide in May, translating to 1 in 182 households in some stage of foreclosure, according to Irvine-based RealtyTrac. The county ranked No. 5 in foreclosures statewide. The number of filings was 14 percent more than in April but roughly 6 percent below the level of a year ago, data showed." Miss Penny Lane says: The only thing she's in the market for is a new floatie.