California Real Estate Headline Roundup

Cities in Riverside County Rank High for Homeownership

August 20th, 2014

    Today’s News Synopsis: The real estate market is picking up with construction starts increasing 7% and interest rates increasing 4.5%, making now a good time to invest according to Bruce Norris.  Homeownership ranks high in Riverside County right now out of 178 cities with populations above 50,000.  Distressed sales decreased decreased

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Real Estate Experts to Discuss Consumer Credit Concerns, Builder Confidence and the Market Recovery at Charity Event Organized by The Norris Group

August 20th, 2014

Top officials from the National Association of Realtors, Beacon Economics, PropertyRadar, California Builders Industry Association, Fannie Mae, and the Mortgage Bankers Association join real estate analyst Bruce Norris on Oct. 24th at the Nixon Presidential Library for The Norris Group’s 7th annual “I Survived Real Estate” charity gala

Consumer Sentiment Decreases This Month to 79.2

August 19th, 2014

    Today’s News Synopsis: Housing starts increased 15.7% to 1.093 million units last month, an increase driven by the growth in both single and multifamily properties.  Debt on households decreased with the decrease in mortgage default rates to .88% from .89%.  Consumer sentiment also decreased this month to 79.2, down from 81.8

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Builder Confidence Increased in August by Two Points to 55 According to the NAHB

August 18th, 2014

      Today’s News Synopsis: The NAHB reported builder confidence increased in August by two points to 55.  Even though the outlook for the economy as a whole has been positive, the housing market outlook itself has been less than positive with the slowdown in housing activity and only slight improvement.  Affordability for

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Kaaren Hall Joins Bruce Norris on the Real Estate Radio Show #395

August 15th, 2014

  Kaaren Hall President of uDirect IRA (Full Bio) Bruce Norris is joined this week by Kaaren Hall. Kaaren is the owner of uDirect IRA Services, a company that specializes in helping people understand what to do with their self-directed IRAs. Kaaren utilizes her skill of mortgage banking, real estate, and property management to

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Senate Bill 1459 Bringing Changes to Education Requirements for Loan Originations

August 15th, 2014

Sources: Delinquencies hit lowest level since 2007 Home price gains Slow in Most U.S. Cities Mortgage Applications Decrease in Latest MBA Weekly Survey Applications for New Home Purchases Increased in July 2014 Foreclosure Filings Up in July Significant Amount HELOC Balances May Be at a High Risk of Default Housing Improving but Still Searching for Normal FHFA Requests

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80% of Lenders Will Not Pursue Non-QM Loans According to Fannie Mae

August 14th, 2014

      Today’s News Synopsis: New home purchase applications increased last month by 2% according to a recent survey released by the Mortgage Bankers Association.  Foreclosures also increased 2% month-over-month in July, although year-over-year they are down 16%.  Fannie Mae believes 80% of lenders will not be pursuing non-QM loans as they said

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Method for Evaluating and Rating RMBS is Being Re-evaluated by Moodys

August 13th, 2014

      Today’s News Synopsis: The method for evaluating and rating residential mortgage-backed securities may undergo changes by Moody’s Investors Services as they are reviewing the method by which they are currently working.  The FHFA is asking for input regarding an idea for a  common mortgage-backed security that would be issued by Fannie

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Housing Market Still A Ways Away from Becoming Normal

August 12th, 2014

      Today’s News Synopsis: Mortgage delinquencies decreased again for the fifth quarter in a row to 6.04%, the lowest in seven years.  Increases in home prices was overall slow in the second quarter in the majority of U.S. cities.  The housing market is showing signs of improvement, but overall it is far

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50-$79 Billion of Outstanding HELOC May Be at Risk of Default

August 11th, 2014

          Today’s News Synopsis: Carol Galante, the former Commissioner for the FHA, will be leaving the organization late this year in order to focus on her new position as the I. Don Terner Distinguished Professorship in Affordable Housing at the University of California, Berkeley.  According to a recent survey published by the

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