California Real Estate Headline Roundup

Sales of Existing Homes Decrease 5% in Western States

November 21st, 2014

      Sources: Builder Confidence Rises Four Points in November S&P/Experian: First mortgage default rate continues upward trend Single-Family Starts Up 4.2 Percent While Overall Production Drops Slightly in October Foreclosure sales were down a solid 36% YOY in 3Q Mortgage Applications Increase in Latest MBA Weekly Survey Existing home sales tick up 1.5% in October Freddie Mac: Rates

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I Survived Real Estate 2014 Part 4 #409

November 21st, 2014

  I Survived Real Estate 2014 Part 4 (Full Bio) On Friday, October 24, the Norris Group proudly presented its 7th annual award-winning black-tie event I Survived Real Estate. An incredible lineup of industry experts joined Bruce Norris to discuss perplexing industry trends, head-scratching legislation, and opportunities emerging for real estate professionals. Proceeds for

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Mortgage Rates Decrease Again and Now Stand at 3.99% and 3.17%

November 20th, 2014

Today’s News Synopsis: Existing home sales increased by 1.5% last month to 5.26 million.  Mortgage rates decreased again with 30-year rates now at 3.99% and 15-year rates at 3.17%.  More parents are moving in with their children as the baby boomers are growing older. In The News: DS News – “FHFA Director

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Housing Starts for Single-Family homes Increase 4.2%

November 19th, 2014

  Today’s News Synopsis: Housing starts for single-family homes increased 4.2% in October, although production as a whole decreased 2.8%.  Foreclosure sales decreased 36% year-over-year in the third quarter, totaling almost 108,000.  Mortgage applications showed increased this past week, up 4.9%. In The News: DS News – “Lawmakers Ask Financial Firms for Information

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Home Affordability for Middle Class Decreases

November 18th, 2014

  Today’s News Synopsis: The NAHB reported an increase in builder confidence by four points to 58.  Home affordability for the middle class decreased over the past year as a result of increased home prices according to Trulia.  In addition, first mortgage default rates continue to show signs of increase according

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Supreme Court to Hear Two Cases from Bank of America

November 17th, 2014

Today’s News Synopsis: In a big news story, the Supreme Court has agreed to hear two cases from Bank of America regarding underwater mortgages.  California is expected to add over 10,000 construction jobs to the economy by the end of this year.  Mel Watt of the FHFA will be speaking

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I Survived Real Estate 2014 Part 3 #408

November 14th, 2014

  I Survived Real Estate 2014 Part 3 (Full Bio) On Friday, October 24, the Norris Group proudly presented its 7th annual award-winning black-tie event I Survived Real Estate. An incredible lineup of industry experts joined Bruce Norris to discuss perplexing industry trends, head-scratching legislation, and opportunities emerging for real estate professionals. Proceeds for

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Mortgage rates continue to remain low

November 13th, 2014

      Sources: Repeat Foreclosure Percentage Increases to Tie All-Time High Optimism about housing gradually improving Banks Agree to Multi-Million Dollar Settlement Over Faulty MBS Millennials still grapple with first-time homebuying Cities Struggle to Recover From U.S. Recession, Pew Says Today’s News Synopsis: Mortgage rates continue to remain low with 30-year rates at 4.01% and 15-year rates at

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MBA Reports Drop in Mortgage Applications by 0.9%

November 12th, 2014

  Today’s News Synopsis: Big day for mortgages.  The amount of mortgage credit available decreased last month as a result of cuts to real estate programs.   The Mortgage Bankers Association also reported a drop in mortgage applications from last week by 0.9%.  A recent report from Pew Charitable Trusts showed

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Value of Homes Slowly Improving with 3.35% Increase Year-Over-Year

November 11th, 2014

  Today’s News Synopsis: Repeat foreclosures increased 2% month-over-month, bringing them to a total of 53% of all foreclosure starts in September.  Consumer optimism regarding the housing market is slowly starting to improve according to the latest Fannie Mae survey.  The value of homes is also continuing to slowly improve according

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