California Real Estate Headline Roundup

New Home Sales Increased but Below Expectations

November 26th, 2014

      Sources: Home Prices in 20 U.S. Cities Increase at a Slower Pace Median Distressed Home Price Jumps 18 Percent in October Lag in housing starts, employment drag on October economy Court rulings in unpaid HOA fees raise risk in RMBS, SFR deals Treasury Nets $35 Million In Securities Auction as Part of TARP Wind Down  

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I Survived Real Estate 2014 Part 5 #410

November 26th, 2014

  I Survived Real Estate 2014 Part 5 (Full Bio) On Friday, October 24, the Norris Group proudly presented its 7th annual award-winning black-tie event I Survived Real Estate. An incredible lineup of industry experts joined Bruce Norris to discuss perplexing industry trends, head-scratching legislation, and opportunities emerging for real estate professionals. Proceeds for

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Mortgage Originations Increase for First Time in a Year

November 25th, 2014

  Today’s News Synopsis: The pace of home price growth was slow in 20 U.S. cities, having increased only 4.9% year-over-year compared to 5.6% in the year ended in August.  At the same time, the median price for distressed residential properties increased 18% last month.  Mortgage originations increased for the first

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RMBS and SFR Face Greater Risks After Big Court Decisions

November 24th, 2014

Today’s News Synopsis: The economy showed slow growth in October due to weak housing starts and employment growth.  Freddie Mac will start making loan-level loss data available to investors.  Residential mortgage-backed securities and single-family rental securitizations are facing bigger risks due to recent rulings by courts in Nevada and Washington,

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Sales of Existing Homes Decrease 5% in Western States

November 21st, 2014

      Sources: Builder Confidence Rises Four Points in November S&P/Experian: First mortgage default rate continues upward trend Single-Family Starts Up 4.2 Percent While Overall Production Drops Slightly in October Foreclosure sales were down a solid 36% YOY in 3Q Mortgage Applications Increase in Latest MBA Weekly Survey Existing home sales tick up 1.5% in October Freddie Mac: Rates

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I Survived Real Estate 2014 Part 4 #409

November 21st, 2014

  I Survived Real Estate 2014 Part 4 (Full Bio) On Friday, October 24, the Norris Group proudly presented its 7th annual award-winning black-tie event I Survived Real Estate. An incredible lineup of industry experts joined Bruce Norris to discuss perplexing industry trends, head-scratching legislation, and opportunities emerging for real estate professionals. Proceeds for

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Mortgage Rates Decrease Again and Now Stand at 3.99% and 3.17%

November 20th, 2014

Today’s News Synopsis: Existing home sales increased by 1.5% last month to 5.26 million.  Mortgage rates decreased again with 30-year rates now at 3.99% and 15-year rates at 3.17%.  More parents are moving in with their children as the baby boomers are growing older. In The News: DS News – “FHFA Director

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Housing Starts for Single-Family homes Increase 4.2%

November 19th, 2014

  Today’s News Synopsis: Housing starts for single-family homes increased 4.2% in October, although production as a whole decreased 2.8%.  Foreclosure sales decreased 36% year-over-year in the third quarter, totaling almost 108,000.  Mortgage applications showed increased this past week, up 4.9%. In The News: DS News – “Lawmakers Ask Financial Firms for Information

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Home Affordability for Middle Class Decreases

November 18th, 2014

  Today’s News Synopsis: The NAHB reported an increase in builder confidence by four points to 58.  Home affordability for the middle class decreased over the past year as a result of increased home prices according to Trulia.  In addition, first mortgage default rates continue to show signs of increase according

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Supreme Court to Hear Two Cases from Bank of America

November 17th, 2014

Today’s News Synopsis: In a big news story, the Supreme Court has agreed to hear two cases from Bank of America regarding underwater mortgages.  California is expected to add over 10,000 construction jobs to the economy by the end of this year.  Mel Watt of the FHFA will be speaking

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