California Real Estate Headline Roundup

RealtyTrac Releases Newest List of Best and Worst Markets for Home-Flipping

August 29th, 2014

      Sources: New-Home Sales Down 2.4 Percent in July Home Prices in 20 U.S. Cities Rose in June at a Slower Pace Consumer Confidence Reaches 7-Year High Foreclosure Inventory Down Nearly 35 Percent Year-Over-Year in July Freddie Mac: Mortgage rates stay low heading into holiday Pending Sales of U.S. Existing Homes Increase More Than Forecast Fannie Mae: Housing’s

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David Goldberg of UBS Joins Bruce Norris on the Real Estate Radio Show #397

August 29th, 2014

  David Goldberg Executive Director over Building & Building Products of UBS (Full Bio) Bruce Norris is joined this week by David Goldberg. David is an executive director at UBS, covering the building and building product sector. Before assuming coverage, David was an associate analyst who focused on the home-building companies within the sector.

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The Latest NAHB Multifamily Production Index Gained Five Points in the Second Quarter

August 28th, 2014

      Today’s News Synopsis: Freddie Mac reported that mortgage rates remained mostly the same with 30-year rates at 4.10% and 15-year rates at 3.25%.  Pending home sales increased above expectations by 3.3% after having decreased 1.3% back in June.  The NAHB released their latest Multifamily Production Index, which measures apartments and condominiums,

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Homes in California Are the Least Affordable Despite Rising Home Prices

August 27th, 2014

      Today’s News Synopsis: The Mortgage Bankers Association reported a 2.8% increase in mortgage applications from last week in their latest Mortgage Applications Survey.  Foreclosures decreased 34.4% year-over-year and stands at 640,000 compared to 976,000 last year.  Homes in California, specifically Los Angeles and Orange County, are the least affordable despite a

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Latest S&P/Case-Shiller Index Shows Home Prices Increased 8.1% in 20 U.S. Cities

August 26th, 2014

      Today’s News Synopsis: Home prices increased in 20 U.S. cities by 8.1% according to the latest S&P/Case-Shiller Index.  Consumer confidence increased 2.1 points t0 92.4, its highest in seven years.  Home flipping also increased tremendously, signs of an improving housing market. In The News: Bloomberg – “Home Prices in 20 U.S. Cities Rose

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New Home Sales Decrease 2.4%

August 25th, 2014

      Today’s News Synopsis: The sale of new homes decreased 2.4% and now stand at 412,000 as of July.  Goldman Sachs is coming closer to reaching a settlement worth $1.1 billion with the FHFA over bad mortgage-backed securities they sold to Fannie Mae and Freddie Mac.  A 6.0-magnitude earthquake hit San Francisco

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Labor Market Continues to Show Signs of Weakness According to Janet Yellen’s Morning Report

August 22nd, 2014

Sources: Combined Single-and Multifamily Gains Boost Housing Starts in July Mortgage default rate drives down household debt Consumer Sentiment Drops in August Builder Confidence Rises Two Points in August Distressed sales down to lowest share since before housing bubble broke Fannie Mae: Housing’s falling momentum will impede 2015 growth REGION: Riverside County cities rank high on home

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Amanda Han and Matt MacFarland of Keystone CPA Join Bruce Norris on the Real Estate Radio Show #396

August 22nd, 2014

  Amanda Han and Matt MacFarland Keystone CPA (Full Bio) Bruce Norris is joined this week by Amanda Han and Matt MacFarland. They are the owners of Keystone CPA. Matt has over 20 years of experience in public accounting as a CPA and tax strategist. He has worked for both the Big Four and

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Foreclosures Decrease to Levels Not Seen Since Housing Bubble Burst

August 21st, 2014

    Today’s News Synopsis: Foreclosures decreased 27% to 115,000, the lowest since before the housing bubble burst.  Mortgage rates decreased to their lowest this year with 30-year rates now at 4.10% and 15-year rates at 3.23%.  Bank of America will pay $16 billion to settle claims it sold toxic mortgage-backed securities. In The

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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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