California Real Estate Headline Roundup

Distressed Homes Sell at Less Than Half The Price of Non-Distressed Homes

September 30th, 2014

        Today’s News Synopsis: Home prices increased in 20 US cities by 6.7% according to the latest Case-Shiller Index.  The latest RealtyTrac report showed that in eight states, distressed homes sold at less than half the price of a non-distressed home.  The high cost of loans seems to be the biggest obstacle

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Housing Market Recovery Declines This Past Month

September 29th, 2014

        Today’s News Synopsis: Consumer confidence increased this month by 2.5% to 77.5, its highest since the Recession.  August saw a decrease in pending home sales, leading NAR to predict existing home sales will decrease 3% for the whole year.  Freddie Mac reported progress in the housing market declined this past month

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GDP Increases by 4.6% in the Second Quarter

September 26th, 2014

      Sources: Sales of Existing U.S. Homes Decrease on Fewer Investors Home Prices Continue to Gain, But at Miniscule Rate Housing Confidence Heats Up, But Expectations Remain Cool New-Home Sales Top 500,000 in August, Highest Level Since 2008 Mortgage Applications Decrease in Latest MBA Weekly Survey U.S. Mortgage Rates Drop From a Four-Month High Is student debt strangling

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Doug Duncan Joins Bruce Norris on the Real Estate Radio Show #401

September 26th, 2014

Chief Economist, Fannie Mae (Full Bio) On Friday, October 24, the Norris Group proudly presents its 7th annual award-winning black-tie event I Survived Real Estate. An incredible lineup of industry experts will join Bruce Norris to discuss perplexing industry trends, head-scratching legislation, and opportunities emerging for real estate professionals. Proceeds from the

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Negative Equity Decreases to Almost Single-Digits

September 25th, 2014

      Today’s News Synopsis: Mortgage rates decreased slightly after being at high numbers for four months; 30-year rates now stand at 4.2% and 15-year rates 3.36%.  Negative equity decreased in the second quarter to almost single-digits while borrower equity increased by $1 trillion.  The median price for distressed homes increased in August

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New Home Sales Reach Highest Level in Six Years

September 24th, 2014

      Today’s News Synopsis: New home sales reached their highest in six years at 500,000 last month according to the latest data from HUD and the Census Bureau.  At the same time, the number of mortgage applications decreased 4.1% from last week.  Freddie Mac said with this decrease in mortgage applications and

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Home Prices Increase Ever So Slightly for Eighth Month Straight

September 23rd, 2014

      Today’s News Synopsis: Home prices in the U.S. increased only slightly by o.1% for the eighth month in a row.  Confidence in the housing market increased this past summer according to the latest Zillow report.  The U.S. is experiencing a shortage of around 1 million affordable homes following budget cuts in

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Student Debt Impacting Home Sales

September 22nd, 2014

        Today’s News Synopsis: Existing home sales decreased 1.8% to 5.05 million according to the latest report from the National Association of Realtors.  According to a recent study by John Burns Consulting, student debt seems to be having an effect on home sales leading to a slower market than expected.  HUD secretary

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Beth Peerce of NAR Joins Bruce Norris on the Real Estate Radio Show #400

September 19th, 2014

  Beth Peerce Vice President of the National Association of Realtors (Full Bio) On Friday, October 24, the Norris Group proudly presents its 7th annual award-winning black-tie event I Survived Real Estate. An incredible lineup of industry experts will join Bruce Norris to discuss perplexing industry trends, head-scratching legislation, and opportunities emerging for real

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Gap Between Homeowners and Renters Continues to Widen

September 19th, 2014

      Sources: Loan Mods Down, Foreclosure Starts Up in July Multifamily Decline Pushes Nationwide Housing Starts Down 14.4 Percent in August Freddie Mac: Mortgage rates move to 3-month high Builder Confidence Hits Highest Level Since November of 2005 Industry Job Cuts Continue in Q2 HSBC Agrees to Pay $550M in RMBS Settlement Former HUD Secretary: Housing assistance programs

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