California Real Estate Headline Roundup

Wells Fargo Expected to Axe 1,000 More Jobs

March 26th, 2015

  Today’s News Synopsis: Wells Fargo is expected to cut 1,000 jobs in their mortgage sector due to the decrease in customers needing assistance in delinquencies and housing.  Mortgage rates decreased again with 30-year rates at 3.69% and 15-year rates at 2.97%.  Home prices are increasing faster than income according to

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More Millennials Opting to Purchase Homes Due to Increases in Rents

March 25th, 2015

  Today’s News Synopsis: More and more millennials are opting to purchase houses as opposed to renting with the increases in rental prices.  The Mortgage Bankers Association reported mortgage applications increased 9.5% in the last week.  Freddie Mac released a list of the top 5 metropolitan areas that are showing signs

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Shortage of Labor Believed to be Cause of Less Homebuilding

March 24th, 2015

  Today’s News Synopsis: A recent report by the NAHB showed a lack of labor is causing a drag on the homebuilding industry and fewer houses being built.  Home sales increased greatly by almost 25% last month to 539,000.  Home prices, on the other hand, also increased but were below expectations

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Existing-Home Sales Increase 1.2% While Prices Increase at Highest Rate in a Year

March 23rd, 2015

  Today’s News Synopsis: Fannie Mae reported an increase in multifamily housing, although overall growth in the economy was much slower in the first quarter.  The National Association of Realtors reported a 1.2% increase in existing-home sales last month while prices increased at their fastest rate in a year.  Foreclosures started

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Sean O’Toole of PropertyRadar Joins Bruce Norris on the Real Estate Radio Show #426

March 23rd, 2015

  Sean O’Toole President of PropertyRadar (Full Bio) Bruce Norris is joined this week by Sean O’Toole. Sean is the founder and CEO of, the only company that tracks every foreclosure in California with daily updates on all foreclosure auctions. Sean is also experienced in flips, having done over 150 with both

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New 3% Mortgage Program by Freddie Mac Set to Begin Operation Monday

March 20th, 2015

          Sources: Builder Confidence Drops Two Points in March Commercial/Multifamily Mortgage Debt Outstanding Grew at the Fastest Pace Since 2007 Southern California home prices rise, sales fall in February Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage rates falling; 30-year drops to 3.78%, Freddie Mac says CoreLogic: More than 1 million homeowners regained equity in 2014 Non-Profit

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Consumers Can Now Publicly Voice Complaints in New CFPB Portal

March 19th, 2015

    Today’s News Synopsis: Despite REOs increasing 9%, foreclosure activity decreased 4% last month and is now at its lowest level in 9 years.  Mortgage rates decreased again according to Freddie Mac with 30-year rates now at 3.78% and 15-year rates at 3.06%.  The CFPB set up a new portal in

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Analysts Scratching Heads Over Drastic Decrease in Housing Starts Last Month

March 18th, 2015

    Today’s News Synopsis: Housing starts dropped drastically in February, leaving analysts scratching their heads and speculating it may have been a decrease in labor.  The Mortgage Bankers Association reported a 3.9% decrease in mortgage applications from last week.  Billions of dollars are being given to nonprofit company NeighborWorks America to

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1.2 Million Homeowners Came Out of Negative Equity in 2014

March 17th, 2015

    Today’s News Synopsis: Commercial/Multifamily Mortgage Debt by 1.9% ($48.9 billion) to $2.64 trillion, the fastest growth rate in 8 years.  Home prices in Southern California increased by about 8.4% month-over-month, while home sales decreased by 2.7% month-over-month.  CoreLogic reported 1.2 million homeowners came out negative equity in 2014. In The News: Los Angeles

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NeighborWorks America to Award $44.8 Million to Help Families in Foreclosure

March 16th, 2015

    Today’s News Synopsis: Builder confidence declined again by two points this month and now stands at 53 according to the NAHB.  NeighborWorks America,  a non-profit company based out of Washington, D.C. is helping families in foreclosure and with distressed properties by awarding $44.8 million to different organizations under the National

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