well it wasn't because realtors weren't trying to sell the land. everybody thought san francisco would expand eventually. all of these real estate guys were trying to sell lots and nobody was buying. it was cold, foggy. there was no good transportation. it just wasn't a good buy. but then one of these real estate guys, who owned a couple of blocks just south of sutro, saw these cars lining up and saw the popularity of them. he decided, well, if you can't beat them, join them. so he made a little deal. he bought 50 old cars, dragged them out to his land just south of sutro in the sanddo you knows. and he said, if you buy a lot from me, $35 up front, $7.50 a month, i'll toss in two cars. so you can pretty much move in today. it's like a starter home. and it kind of helped get attention to the whole thing. he built what he called novel seaside cottages. so this is one of his novel seaside cottages where he basically elevated these cars to a second story. here's one in construction. and off on the right there is his little real estate office, in anothe

realtors there say the tax base has gone down three years in a row.nd foreclosures still make upmost of the market. >>> well, the way you watch movies from your home is changing. the new pricing policy that has some customers up in arms. >>> and a place to bring people to justice becomes the scene of a brawl. and it's all caught on tape. >>> welcome back to the morning news. it is now 4:52 and take a look at this video. it's from tacoma, washington. a fight in a courthouse as a murder suspect was being brought in for trial. friends of the murder victim rushed in, stormed past the officers to attack that man who is accused. they threw him to the ground and started stomping on his head. officers were able to end the fight by using their tasers. everyone involved in the attack was arrested. >>> rodney king has been booked in a los angeles county jail on suspicion of driving under the influence. sheriff deputies say they pulled king over yesterday east of los angeles for breaking several traffic rules. king gained notoriety when he became the victim of a

the listing realtor tells us it's not for rent and if it were, $2,000 would be ridiculous. following our investigation truly yeah is now promising to launch its own. too late for blake but neighbor time to help others. >> put your faith in the world and it gets taken away. >> reporter: trulia is now warning renters about suspicious tactics demanding more information from people placing ads and trulia isn't the only website hit by scammers. we have also seen suspicious ads on hotpad and, of course, craigslist. remember, if you have a consumer problem or question, give us a call 1-888-5-helps-u. >>> thank you. they are everywhere picture- perfect photos of actors and celebrities but covering up the flaws can go a little too far and in response, britain has banned a series of laureal ads. they show overly air brushed images of actress julia roberts and supermodel christy turlington. britain's advertising watchdog says the magazine advertisements were misleading and do not accurately represent what the beauty products could achieve. though admitting post production techniques w

the realtors group said the unexpected downturn was due in part to a record increase in cancellations of pending contracts. analysts say that could be due to jitters from the poor economy or because of tighter lending conditions. >>> people who live in oakland will be voting on a parcel tax this fall. the city council voted yesterday to make the parcel tax part of a special all-mail election on november 15th. if approved by two-thirds ftd voters, it will -- of the voters, it will raise taxes for libraries and rec centers. >>> the dow jones industrial gave back some of yesterday's gains today. all those reports of progress sort of debt limit agreement fueled the rally but word that a washington is still in a stalemate today damped enthusiasm. the nasdaq closed down 12, the dow dropped 15 points. >>> investigators in mountain view are trying to determine what started a fire at a u-haul parking lot. coming up, we'll tell you why some believe it could be connected to gas thieves. >>> sunny skies and warm temperatures across the entire bay area today. coming up, i'll let you know when the

on wednesday the national association of realtors will release home sales. we are reaching the deadline to raised the debt ceiling. let's take a look at the tea party idea. >> democrats say that this would lead to decimating budget cuts and make it difficult to pass tax increases on the wealthy. >> good news on jobs this morning, according to a new survey, hiring is expected to pick up your of the rest of the year. the national association of business economists found that 43 percent of businesses will increase employment in the next six months. that is the highest number in the year. about 50% and i expect any change. they say that 76 percent occur are expected to grow 2% or more and 23% expect growth of 2% or below. global uncertainty and disasters in japan play a major role in those expectations. we are live into space where the astronauts are about to perform the final official past closing. we expect to see that light any minute on kron 4. this is the last time a shuttle crew will depart the station. it will be headed back to earth tomorrow. as soon as

>> coming up, advice from the police, property owners, realtors, and the ocean city mayor himself. >> and now, your insta-weather forecast with ava marie. >> we have been talking about the possibility of showers and storms through this afternoon, and that is already happening out there. take a look at hd doppler. you can see quite a bit of activity from a virginia moving to the southern tier of the state. there is at least a little bit of lighting reported with this cell, and at more pushing toward ocean city and eastern shore, and concern of heavy downpour and mining with those storms. -- and the lightning with these storms. you can see this moving towards the southern tier. that is the possibility that more storms could pop up near baltimore. that is what we are looking at for the forecast, all because of a frontal system that has been hanging around for the past day or so. the cold front is lifting back up to the north as a warm front. the warm and humid air will aid in making things more unsettled. we keep the possibility of more showers and storms, although they will be scattered

it had all the parties in it, treasury, hud, it had fannie and freddie, the mortgage bankers, the realtorsme builders, it had the community groups and the special interest groups, all of them were involved in this push to increase home ownership to intended record levels by the end of the millennium, and they created a platform that would carry that out, and that included reduced down payments, changes in building quality, innovation of new mortgage products, and all of these were stated goals, and they were implemented as part of policy, part of the map and part of the notion of wrapping ourselves in a culture of ownership, ownership society without ever having a institution about what it was, and we forget that all of the benefits that historically were conveyed by home ownership were real. greater ties to one's community. they are a better place to raise a family, more stable neighborhoods, typically neighborhoods with more focus on educational attainment of the children in those neighbors, but we never stopped to ask what drove those as part of the policy discussion, and history has sh

she says the realtor who sold her the home never mentioned the recent crime in the neighborhood. >> i wasn't aware of the burglaries recently until you just told me. >> how concerning is this? >> it is very concerning. i'm going to make sure all the doors and windows are shut. >> police want to question two men who they are calling persons of interest. a white male 25 to 30 years old, thin build with short blond hair. he asked a resident if they have a dog for sale and left after being told he had the wrong address. the others described as a black male 20 to 30 years old, medium build. he was seen knocking on doors and driving a gray bmw sedan. police increased patrols in the areas where the burglaries have taken place. they want residents to use common sense. they say to make sure to lock windows and doors and set the alarm. in belmont, kron4 news. >>> oakland police are releasing a new clue tonight in hopes to catching the man. known to many people as brother john. the 29-year-old was gunned down in east oakland while he was doing what he was most known for, feeding the homeless. in

but this realtor warns buyers auctions aren't always as they appear. >> what people don't realize asng is that they have no idea what the bid number s if you win the bid, you win the auction doesn't mean you get the purchase. i believe it's disclosed that that is representing the bank trying to move the price up to what that minimum reserve. >> does the auctioneer bid been -- behalf of the seller. >> terms and conditions outline how that works. >> and again this, house is one of those that will be sold tomorrow this, house was once valued at $450,000. it's 2500 square feet. no one expects houses to sell at those prices. we have details, terms, and conditions and a chance to participate in a mock auction, those details are on our web site. refered to their web site abc 7 news.com. >> and looking for a good deal? thank you very much. >> and president ob calma has had fun with astronauts on board the space shuttem this morning. take a look. >> hello, mr. president you're talking to the crew of the space shuttle atlantic. >> that is funny because i was just dialing out for pizza. >> and

very much we're getting closer to a balanced budget. >> reporter: the national association of realtors spend $7.1 million lobbying in the second quarter of this user, nearly double what they spent over the same period last year. realtors are worried the mortgage interest deduction for homeowners could be eliminated. >> if it went away or severely curtailed it would add wind more level of uncertainty. >> with potential $3 trillion in federal deficits on the line, special interest groups are angling to have their say on what is in and what is out. >> these lobbying spending numbers are through june, of course. in the last couple weeks there's been a frenzy of lobbying activity going on. the sunlight organization anticipate a huge bump-ultimate up 234 the amount of money spent. >> and they're only just getting started. thanks very much, lisa. >>> we'll have much more later in "the situation room." right now a chilling new warnings about terror on u.s. soil. the department of homeland security alerting law enforcement officials about possible threats to utilities across the country, plants

>>reporter: realtor rebecca williams is thelising agent.ss is ate good place to good to get a house. >> i think it's a wonderful opportunity for buyers. i do. it's an opportunity for them to participate in the auction. and to get a wonderful home and great value. >> undisclosed amount of money that the bank will accept. >>reporter: but realtor tracy warns prospective buyers public auction aren't always as they appear. >> what people don't realize as they are bidding they have no idea what the bid number is. so even if you win the bid you win the auction dent mean necessarily that you get to purchase the property. i believe it is disclosed that the auctioneer is representing the bank trying to move the price up to what that minimum reserve is. >>reporter: does the auctioneer bid on behalf of the bank against the bidders. >> auctioneer can bid on behalf of the seller and again the term and conditions outline how that works. >>reporter: those terms and conditions are on the auction.com web site along with details about saturday event in oaklan

the national association of realtors says through march a third of home sales in florida, for instance, were to foreign buyers. that's up 10% from 2007. they are being enticed by low, low prices 30% nationwide since peaking in 2006. lower dollar making their money going farther. miami, fort lauderdale, phoenix, make of the hottest markets now. >>> what is behind door number two? facebook is making this big old announcement at 10:00 in the morning. speculation is that facebook will either unveil an app for the ipad, photo sharing for iphone or video chat service featured by skype. last week ceo mark zuckerberg told reporters the company will launch something awesome. >> could be all three for all we know. >> i'm voting on skype. we can check back in tomorrow. >> i'm going to head up to facebook after the newscast. so i'll let you know. >> very good. >>> today it is tax cuts versus tax breaks on capitol hill. in just a few hours president obama will meet with democrats and republicans to hammer out a deal on the debt crisis before it is too late. at stake, raising the nation's $14.3 tril

. >> susie: here's what we're watching for tomorrow: the nation's realtors report total existing home sales for june. we'll get an update on mortgage applications and crude oil and gasoline inventories, along with earnings from altria, a.m.r., ebay and intel. and, hilary kramer is our "street critique" guest. email your questions to streetcritique@nbr.com. could the big apple be the new world capital of technology start ups? if new york city mayor michael bloomberg has his way, the answer is yes. he wants to create a world-class science and engineering campus here. u.s. universities, including stanford, columbia and n.y.u., have expressed interest. the city would provide land to build as much as two million square feet of classrooms, labs and other buildings. >> tom: general motors is launching a new system to monitor power usage in its chevy volt. the program sends data from the car back to the power grid so utilities can better manage their energy demands. it uses the onstar system to monitor a vehicle's battery charge. using that information, power companies can balance demand and

i've talked to a lot of realtors and of course it's not going to be cheap but there are people who afford to pay for this and they would rather live in san francisco than somewhere on the peninsula or outside san francisco and marin but there isn't a big stock of these homes and buying an older home is a lot more expensive proposition because you buy the older home and have to pay a lot for that and put a lot of money into upgrading a 1925 openly which oftentimes has not been, you know, brought up to date so they're looking for this type of product. and i would agree with staff we need some design changes. this is really knowy valley and know it's on the border with diamond heights but clearly is with nowie valley and it was changed a few years ago and gold mine comes down in a culdesac from diamond heights. but should reflect the style in nowie valley and looked at the stuff that's been built more recently and the ones built in the 1990's wasn't too bad but the single family home built in 2011, maybe it's a bad picture of it, but i don't think it's very good, maybe it's better in darker

decreased eight-tenths of a percent from a month earlier, according to the national association of realtors. it was the third-straight monthly drop. meantime, mortgage applications jumped 15.5% last week. the mortgage bankers association says that's the biggest increase in four months, helped by a flood of refinancing applications. >> tom: mortgage lender wells fargo will pay $85 million to settle civil charges that it steered borrowers into high- cost, subprime loans. it's the largest fine ever imposed by the federal reserve in a consumer-enforcement case. wells fargo did not admit or deny wrongdoing as part of the settlement. the bank agreed to compensate borrowers who were pushed into higher-priced loans or whose income was exaggerated. >> susie: meantime, help is on the way for small banks and small businesses. the u.s. treasury said today it's giving $214 million to 17 community banks to help finance local businesses. the money comes from the small business lending fund. community banks are often the lenders of first choice for small firms, but many of these institutions have gone unde

rise in pending home sales followed an 8% gain in may, according to the national association of realtors. meanwhile, foreclosure activity slowed down in the nation's largest metropolitan areas during the first half of the year. however, foreclosure listing firm realty-trac says that's because banks are taking longer to move against homeowners behind in their mortgages. >> ways to turn child's playtime into a learning opportunity. >> susie: our guest tonight expects the u.s. will lose its triple-a credit rating even with a debt deal, but that event won't disrupt the markets. here to explain why: mike holland, chairman of his new york money management firm, holland and company. mike, nice to you have back. >> good evening, susie. >> susie: all right, so tell us why you think that a downgrade is inevitable, even if there is a deal in washington? >> well, let me start with a more positive note, susie, and i'll get to the answer. i think there's zero chance of the u.s. defaulting on its debt. i think there's zero chance of the u.s. not paying social security checks as darren gersh was just ta

. >> reporter: realtor donna schwann says sales have been some 50% ahead of last year. but the brinksmanship in d.c. has caused buyers to stop calling, worried that mortgage rates will rise. >> they seem nervous again about their jobs. and the people that we had to write offers and in some cases didn't. >> reporter: analysts say a lower u.s. credit rating could also force interest rates up on some credit cards, auto and student loans. caution also is what financial planner gwendolyn kirkland says she's seeing, with clients closely watching their portfolios, the markets and hoping washington gets it right. >> they still are collectively holding their breath and just waiting for that deal to be inked, to go through both houses of congress and to be signed off so that we don't have just a patch work. >> reporter: even if there is a deal reached at the last hour, there is still the possibility of the credit rating agencies downgrading the u.s. and pushing interest rates up. the bottom line is that most people that we talked to say they have confidence in the u.s. economy lo

the realtors have been bringing in busloads of people. there is an attempt. gwen: there is an exit strategy that's clear to everybody tonight? or is that still going to emerge in the next 48 to 72 hours? >> i think there is -- the senator from tennessee said that by the time tuesday rolls around, i think something pretty will have happened. it's going to happen, unfortunately, there will be theater before it does. gwen: really? theater? we haven't had any of that. we'll have to suffer through so much more. thank you all so much. thank you all, as well. we are done here for now but the conversation continues online where we'll continue to sort things out. you can find us at pbs.org. keep up with daily developments with me each night on the news hour. gwen: every thursday get a preview of our shows and panels available at washingtonweekinreview.com. >> washington week" is produced by weta. >> funding for "washington week" is provided by -- >> this rock has never stood still. since 1975, we've been there for our clients through good times and bad. when their nee

. - i really told the realtor that i only wanted to look on this red mountain quarter, and i wanted trailause that's what's the most appealing to me in this area. burkhardt: michelle was part of a growing contingent of transplant residents to southwest utah attracted to the area's mild climate and almost limitless opportunities for outdoor recreation in a spectacular setting. - it's really like no other place you can be. it's just so many trail heads and so many places in such a short distance. and it's really a treasure, and we want to preserve it. burkhardt: it is a familiar management dilemma, how to protect such precious areas while also allowing access to a growing number of enthusiasts. red cliffs national conservation area is the culmination of 13 years of public lands conservation that began with the red cliffs desert reserve, a wildlife preserve set aside to help protect the rare mojave desert tortoise. - it's challenging to allow people access to the reserve, to enjoy the reserve, yet maintain and protect habitat, tortoise habitat as well as populations of tortoises. burkhardt:

. >> and realtors warn -- >> you expect floods. a river like yellowstone floods all the time and we can't expect our pipelines to break every time a flood happens. >> regulators warned exxonmobil about safety violations along the line twice in the last year. the company says more than 280 people are involved in the cleanup and more than nine miles of absorbent boom are deployed. >> we understand this is a very serious event. we understand that we need to get our full arms around where the exposure areas are. >> the line was shut down due to concerns about flooding in may. exxonmobil restarted it after determining that the risk of a leak or spill was low. >>> the los alamos national lab re-opens for business tomorrow now that crews have regained the upper hand on that massive fire in mexico. thousands were let back home after a week and they're still worried about the possibility of flooding since the fire destroyed plants and trees leaving the either bare. >>> sure, there were the usual fireworks and food to celebrate the fourth bu

last week, he resigned from the greater baltimore board of realtors after 14 years of service. >> the case is one step closer to go into the jury. the defense has rested in the casey anthony trial. we have more. >> do you know george? >> the defense closed with a flurry. >> to develop a relationship with them -- did you develop a relationship with tampa him. >> he said it was an accident and went out of control. but i was caught off guard with airit. he had tears in his eyes. >> prosecutors pushed to establish that was george anthony at the time. >> he did not claim he was there or knew that the request i agree with you. >> later, her mother and father and brother were called back to the stand. questioning centered on how the pets were buried. >> they were put in plastic bags and wrapped in packing paper. >> prosecutors fireback the crest i take it that you did not euthanized your own pets with chloroform. >> only one anthony was left to take the stand. one question was answered this afternoon because it is your decision not to testify. >> yes, sir. >> the defense rests. >> 5:38. 62 d

he resigned from the greater baltimore board of realtors to focus on his mayoral campaign. he announced his bid back in april. >> 86-day school day is one option being offered. scores for students were slipping in one area. saturday could be added for more schools. >> for many of our kids can you need to stretch time in a way that it allows them to dive deep into some of the barriers that success may be. >> the details have not been ironed out. the discussions would target eighth grade students. a few cities schools already follow 86-day schedule. that brings us to our water cooler question of the day. what do you think of the idea of extending the school week in baltimore city to six days? you can share your response at wbaltv.com and on our facebook page, or send us an e-mail to watercooler@wbaltv.com. >> no word as to what triggered a fierce fire in west baltimore. take a look of this. the flames engulfed this garage in the 1000 block of lombard street. nobody was hurt. >> office shuffling this morning. president obama bestowed robert gates the presidential medal of free

voices heard on the hill but the washington times even reports of they are lobbying like mad so in a realtor ization bill there's a drive to withhold up to five percent of each state's highway funding unless that state adds a measure to enforce the device in cars of convicted drunk drivers there's also a proposal on the table who would allocate sixty million dollars to the manufacturers to develop a new type a device that would have checked how close the driver is to reaching the blood alcohol limit probably through skin contact with the steering well so if these measures are passed in the breathalyzer manufacturing industry would quickly be booming and much like the protecting children from internet pornography we talked about yesterday nobody wants to be seen as being against drunk driving prevention methods so lawmakers in the most part are probably going to sign on and you combine that with all the activist organizations like mothers against drunk driving who will gladly promote these proposals and the alcohol lobbyists don't stand a chance don't like i mean siding with alcohol lobby is

realtors in contra costa county stay the tax it base has gone down three years in a row and foreclosures make up most of the market. >> for the second time this year, california state tuft students have learned their tuition is going up. it yesterday, the board of trustees approved the 12% tu television hike set to begin next month. earlier this year, they passed a 10% increase, the $588 increase will put tuition pat all 23 csu campuses, at about $5400 a year. thisin the -- this does not including or books. >>> it the regents are considering another hike. yesterday, the board begin a three-day meeting in sacramento. the president is recommending a 9.6% increase. that would raise tuition to about $12,000 a year and this two make up for an unexpected $150 million cut by the state. >>> remember rodney king? well, he's been booked in a los angeles county jail on suspicion of driving under the influence. sheriff deputies say they pulled limb over yesterday east of it los angeles for breaking several traffic rules. it rodney king, as you know, is the victim of this videotape police it beating

tech boom is creating job opportunities but making the competition tougher when it comes to read, realtorsay that the prices have gone up between 10% 25% in recent months. >> if you want to live in a building just like this one in san francisco you can now expect to pay even more rain. take a look at this video for example. a two- bedroom apartment in this high-rise on fremont and mission will set you back about $6,000 to $7,000 per month, 18 months ago a different story he would pay between $4,800.6000 dollars per month. tenants say that it has been tough to find a place. they say that job growth with tech companies is one of the reasons why the cost of rent is steadily climbing. >> we are typically going up and read, that is for the younger people want to live. >> she says that tenants should be persistent and take action. >> they need to talk with it the representatives and said they want more housing in san francisco because the only with the prices will go down is if more housing is built. >> sleeping in cars could be illegal in east palo alto. the city wants to ban the practice. we s

national association of realtors reports sales of previously occupied homes fell.point 8%.or fewer than 5 million sales. economists say it takes at least 6 million for a healthy housing market. checks will soon be in the mail for more than 450,000 home owners who took out mortgages with countrywide financial. part of a settlement of claims that the lender overcharged borrowers facing foreclosure. the ftc reached this settlement with bank of america. the fdc indicates the checks wi>> an airline deal reportedly worth $40 billion could mean state of the art amenities on future american airlines flights. that is how executives say they will pass on savings from what they call the largest aircraft order in the industry history. 460 new planes in the next five years to build a new fuel efficient fleet. a number of airlines blamed fair hikes and fees on rising fuel costs so passengers are paying more for stuff like tickets, baggage and inflight meals. who is the winner in the deal, rich? >> analysts say american airlines, possibly customers in the long run and airbus, the european

realtors reported sales of existing homes fell in june to the lowest pace in 14 years. none of it good news for president more than a year away from election day. >> no question we face head winds. the president has been direct about that. we can do everything we can. across the front to ensure that we're doing what we can to spur growth and job creation. >> in the senate, they reviewed progress of the dodd-frank regulation reform signed in law by the president a year ago. the birthday card from republicans read you have been a job-killer. >> for millions of americans, the one year anniversary of dodd-frank provides little comfort as they continue to deal with the harsh economic reality marked by little to no innovation. anemic economic growth and virtually no job creation. >> they favor rewriting portion of the legislation but supporters say leave it alone. it's working fine. >> the u.s. financial system today is stronger, more stable. and better able to fuel growth. and create jobs. >> still, regulators lag in the financial rule-writing, finishing just 50 proceedings

neighbors describe the orange county realtor as quiet. >> she never seemed angry or person, outgoingpersonality, loves to keep this place running great. >> reporter: tonight doctors say the garden grove man is in good condition, his estranged wife, however, facing charges of aggravated mayhem.lb arrest reporting. if convicted, katherine could be sentenced to life in prison. >>> one of most notable first ladies of our time was rememb remembered today. 43 issues. after leaving the white house, veterans and others may not be sent out. in fact, a senior republican said president obama would have to leave office for there to be an agreement on spending and taxes. democratic leaders are demanding tax hikes. >> as long as this president is in the oval office, real solution is probably unattainable. >> we must protect medicare and social security. we will not support cuts. >> what little progress was made came in the form of an 18-month plan proposed by republicans. 18 months because that's how much remains in president obama's term. they say in 18 months, with a republican president, they c

realtor says this is the kind of stuff that makes the bad housing situation worse.be contributed to the 1% dip in new home sales we just reported last month. we mean well, done we? we always mean well. >> i think so, i'm not sure. >> neil: what happened? >> it is unbelievable. again, it might be worthwhile if we had stable prices. we had stable demand. if something had gone right with housing. but nothing has gone right. with all of these 30 billion dollars of housing tax credits, not including possibly the fraud. it is amazing. >> neil: when you take the credit away. o', the buyers go away. >> so we are borrowing for future we did nothing. whoever would have bought maybe next april, bought in april or which ever year we're referring to. we merely borrowed from the future. demand dropped. prices continued to drop. absolutely nothing was accomplished by the home buyer tax credit as far as i'm concerned. >> neil: do you think people have a past loafian response to like -- a pavlovian response? >> i'm not sure. maybe they will buy a home. maybe they were going to buy a

our realtor i talked to said a two-bedroom apartment in is billion will cautious six to $7,000 a month. tenants have said it's a tough time to find a place to live. job growth with tech company is climbing. >> the younger people want a live and the rent is going up. they need moral holocene built in san francisco. >> sleeping in cars on city streets what it will be illegal in palo alto this is banning the practice and we are going to see why this city is starting to crack down. >> near stanford university homeless people parking here and sleeping in their cars most nights neighbors have been complaining to city hall barracks >> i wish city hall would prohibit them sleeping in their car. >> residents of this and other neighborhoods are causing a sensation at issue they are using bushes and trees as a bathroom. it seems to be more people sleeping and living in their vehicles more. it is a cat and mouse at the game with police next month if the city council agrees it could lead to a fine as high as a thousand dollars >> one of the reasons a baby, a bigger problem menlo park and redwood ci

yesterday in economic reports coming out today you will see weekly figures on the jobless claims and the realtorswill give a report on pending home sales new details of a parolee had that was under suspicion of the beating of the bryan stowe they are filing a suit when he was arrested in the home where a fire arm was found they said they were in a rush to judgment. it police exonerated ramirez last week announcement coming from the san francisco giants this morning carlos about prandial felder accepted of trade to the severances code giants they have a 24 hour window to negotiate shortly after an aide to to win beltran arrived in the clubhouse and told his teammates he was on his way to join the giants. the giants desperately need some offense parent we will be read back when the kron 4 morning news continues it is a foggy day out there as we look at the san mateo bridge we will be out there as we look at the san mateo bridge we will be right back yÑsÑkékékióç]s]s >> new report that i of norway alex branded as soon as he was approached by police after the shooting on the island >> i think that ra

. >> reporter: realtor billy carp used to love zillow and so did his clients. >> they almost always bring up zillow. they say my house is this and that on zillow. >> reporter: now they are taking another look. >> this is definitely low. >> reporter: zillow.com the website known for instant appraisals has changed the way it calculates those values. >> we updated our algorythm to better track what's happening in the market. >> reporter: the site says it's more to accurate. >> we approved our accuracy from 7% to 10%. >> this is on the low side. >> reporter: for example, this home in berkeley that zillow now pegs at $658,000 is really worth closer to $725,000. >> the volatility in the markets is enormous. >> reporter: uc-berkeley economics professor john quigley says zillow's change isn't likely to soothe an already battered housing market. >> people become more uncomfortable, less certain, more anxious about the value of their real property. >> reporter: and some believe the lower estimates could make homes in the area that have already seen a big decline in prices that much harder to sell.

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. >> well, today on cnbc, we talked to the realtors and in a week housing market, they had peopleandy a home have backed out because they are concerned of what is or is not happening in washington, d.c., they are canceling the contracts to buy a home. that is one angle, but there is another angle. what about the consumer spending? are consumers starting to sit on their hands and close the wallets more, because they are afraid of what might not get done in washington, d.c.? to my previous point, if we don't know an outcome, and don't know what is going to happen, generally the best thing to do is to batten down the hatches and perhaps do nothing which is what consumers are starting to do and it is what corporate america is afraid would happen even greater en masse if we don't get a deal or if we get a credit ragt downgrade and the stocks are fundamentally earnings, martin, so if the consumer clams up for whatever reason and does not spend, corporate america suffers and the stock market suffers and that is what we are starting to see this week. >> a serious situation. cnbc's brian sull

we have seen realtors -- and this is a study that just came out a few days ago -- one out of six deals this past month, people backed away from. well, if you look at the month before, it was only one out of 25. people are feeling the uncertainty in this economy and it is time to come to a bipartisan agreement. last week, i held a call with business leaders from across my state to update them on the status of negotiations, to hear their thoughts and their concerns, to answer their questions. their message back to me was clear and unified. if we fail to act, the consequences for our economy are real and serious. i will be honest, they don't care what combination of votes -- democrat, republican -- it takes to get us across the finish line. many would prefer a republican plan, some would prefer a democratic plan. but what they want is consistency. they want us to get this done. they want us to not default on our debts. they want a deal to be passed by august 2 that prevents the united states from defaulting on its financial obligations and provide some long-term certainty. now, make no mi