The Norris Group Blog

California Real Estate Headline Roundup

Mortgage Purchase Demand Remains Flat

July 23rd, 2014

  Today’s News Synopsis: Mortgage applications increased 2.4% from last week according to the latest survey by the Mortgage Bankers Association.  The latest Fitch Ratings showed positive numbers for the upcoming year with housing starts expected to increase 9.5% and multifamily volume to increase 12%.  Mortgage purchase demand is still slow, having

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Total Bank Failures Now at 13 with Closing of Georgia Bank

July 22nd, 2014

  Today’s News Synopsis: The total number of failed banks this year is now at 13 with the recent closure of Conyers-based Eastside Commercial Bank in Georgia.  Existing home sales increased 2.6% month-over-month and now stand at 5.04 million.  Home prices increased 0.4% month-over-month in May, exceeding expectations. In The News: DS News – “Regulators

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New Report on Dodd-Frank Act Released Four Years After Its Inception

July 21st, 2014

  Today’s News Synopsis: A new report was released by Congressional Republicans regarding the status of the Dodd-Frank Act, four years after its inception.  Ellie Mae said they will be moving their headquarters to Pleasonton, California due to their workforce continuing to grow and them experiencing strong growth.  The latest report from

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Analysts More Optimistic About Housing Market

July 18th, 2014

Sources: Consumers Expect Economic Improvement NAR: One chart shows widening affordability gap Builder Confidence Surpasses Key Benchmark in July South Pushes Nationwide Housing Starts Down 9.3 Percent in June Foreclosure Activity Falls below Pre-Crisis Levels Freddie Mac: Mortgage rates level off, 30-year loans average 4.12% Yellen to Testify before Congress this Week Yellen: Housing recovery still too slow Treasury

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Sean O’Toole Joins Bruce Norris on the Real Estate Radio Show #391

July 18th, 2014

  Sean O’Toole President of PropertyRadar (Full Bio) Bruce Norris is joined again this week by Sean O’Toole. Sean is the founder of PropertyRadar.com. He began his very successful career as an entrepreneur in Silicon Valley working with people and starting up companies. He is a personal friend, and he and Bruce have

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Foreclosures Now at Levels Below Pre-Financial Crisis

July 17th, 2014

Today’s News Synopsis: HUD reported housing starts decreased 9.3% last month to 893,000.  Foreclosures decreased 19% from the last 6 months and 23% from the first half of 2013.  613,874 foreclosures were completed in the first half of 2014, putting them at levels below what they were before the financial crisis.

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Builder Confidence Increases Four Points Above Benchmark

July 16th, 2014

Today’s News Synopsis: Builder confidence increased four points in July to 53, a success as any reading over 50 shows that more view the condition of sales as positive.  The pace at which home prices increased was slower  with the median price for non-distressed homes increasing only 0.8% year-over-year.  Janet Yellen

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Sean O’Toole Joins Bruce Norris on the Real Estate Radio Show #390

July 15th, 2014

  Sean O’Toole President of PropertyRadar (Full Bio) Bruce Norris is joined this week by Sean O’Toole. Sean is the founder of PropertyRadar.com. He began his very successful career as an entrepreneur in Silicon Valley working with people and starting up companies. He is a personal friend, and he and Bruce have gone

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Janet Yellen Says Housing Recovery Moving at Slow Pace

July 15th, 2014

Today’s News Synopsis: CoreLogic reported home prices increased 8.8% last May for the 27th week in a row, leading to a decrease in housing affordability.  Janet Yellen spoke with the Senate Banking Committee saying that the recovery for the housing market is still moving along at slower pace, primarily due to

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Congress Prepares to Hear From Janet Yellen this Week Regarding the Economy

July 14th, 2014

Today’s News Synopsis: Citigroup has resolved a $7 billion settlement to cover charges of not being honest to investors about the quality of their mortgage-backed bonds.  Expectations by consumers over the improvement in the economy increased slightly by .5% month-over-month and 2.5% year-over-year.  Janet Yellen of the Federal Reserve is expected

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