California Real Estate Headline Roundup

Bank of America Planning More Layoffs in Mortgage Business

February 27th, 2015

          Sources: MBA: Mortgage delinquencies continue decline in 4Q14 Mortgage Applications Decrease in Latest MBA Weekly Survey Freddie Mac: Mortgage rates increase three weeks straight Bad housing news drives stocks deep into red territory Single-family rental investment still strong among smaller investors Fannie, Freddie declining profits revive push for housing reform Foreclosure Inventory Down Despite Rise in Starts Developers’

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Economist John Husing Joins Bruce Norris on the Real Estate Radio Show #423

February 27th, 2015

  Dr. John Husing Inland Empire Economist (Full Bio) Bruce Norris is joined this week by Dr. John Husing. Dr. Husing is a leading authority on the Inland Empire economy, an area he has been studying since he wrote his doctoral thesis on the region in 1964. His influence on the business and political

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Latest Multifamily Production Index Comes in at 54 for the Fourth Quarter of 2014

February 26th, 2015

  Today’s News Synopsis: Mortgage rates continued to show signs of increase for the third week in a row with 30-year rates at 3.80% and 15-year rates at 3.07%.  Developer sentiment continues to remain above 50 for the multifamily market for the third week straight.  The latest Multifamily Production Index came

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Housing Reform a Bigger Issue Now with GSE’s Low Profits

February 25th, 2015

  Today’s News Synopsis: New home sales continue to hold high at six years with 481,000 properties being purchased last month and having increased by 21% since last July.  Mortgage delinquencies decreased again in the fourth quarter by a rate of 5.68%.  Fannie Mae and Freddie Mac both posted decreasing profits

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Rental Investment Still Positive Despite Home Sales to Institutional Investors At Its Lowest in Four Years

February 24th, 2015

  Today’s News Synopsis: Home prices gained momentum in 20 cities according to the latest S&P/Case-Shiller Index, having shown an increase of 4.6% year-over-year.  Rental investments for single families homes is still showing positive signs despite the sale of homes to institutional investors being at its lowest in four years.  A

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Housing Stocks Driven Way Down with News of the Market and Existing-Home Sales

February 23rd, 2015

  Today’s News Synopsis: Existing-home sales decreased 4.9% with the increase in prices and decrease of supply.  This news in addition to the news of decreases in both housing starts and permits has led to housing stocks being driven way down.  However, at the same time the prices of luxury homes

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Latest Internet Searches Show Bigger Demand For Housing

February 20th, 2015

          Sources: Builder Confidence Slightly Lower in February on Harsh Weather Conditions TransUnion: Mortgage delinquency rate down to 3.29% in 4Q14 Mortgage Applications Decrease in Latest MBA Weekly Survey Freddie Mac: Mortgage rates rise for second week; 30-year at 3.76% Housing Affordability Edges Up in the Fourth Quarter It’s official: Zillow now owns Trulia Zillow Group seeks restraining

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Appraiser/Investor Rick Solis Joins Bruce Norris on the Real Estate Radio Show #422

February 20th, 2015

Rick Solis   Appraiser and Investor   (Full Bio) Bruce Norris is joined again this week by Rick Solis. Rick is a fellow investor, property manager, property finder, and a good teacher. Regarding the investor side of real estate, Bruce and Rick met at a seminar he was giving at the time Rick started buying and

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Over 1 Million Homeowners Avoid Foreclosure Thanks to Freddie Mac

February 19th, 2015

  Today’s News Synopsis: Freddie Mac reported an increase in mortgage rates for the second week in a row with 30-year rates now at 3.76% and 15-year rates at 3.05%.  Housing affordability increased again in the fourth quarter.  For families earning the median price of $63,900, 62.8% of new and existing

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Housing Market off to Rocky Start, Although First Time Homebuying Showing Positive Signs

February 18th, 2015

  Today’s News Synopsis: The housing market overall is off to a rocky start this year despite positive forecasts with decreases in construction, consumer confidence, and mortgage applications.  Despite this, there is an upside in first-time homebuyers who are continually visiting Redfin’s site to check out new properties.  The rate for

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