The Norris Group Real Estate News Roundup 3/7/11

Results from an NAHB survey show builders expect homes to average 2,152 square feet by 2015. Lockhart, from the Atlanta Fed, expects the economy to grow up to 4% over the next 2 years. FNC Inc said over 25% of foreclosed properties liquidated in 2008 and 2009 sold at more than a 40% discount. Bank regulators are attempted to push new rules that would require lenders to offer borrowers more principal write-downs.

The Norris Group Real Estate News Roundup 3/3/11

Freddie Mac reports mortgage rates have dropped again, and are now at 4.87%. Jobless claims decreased 5% last week, according to the Labor Department. California lawmakers are supporting a bill that would prevent servicers from foreclosing on borrowers in the process of applying for a loan modification. The House Financial Services Committee may end FHA’s short refi program.

The Norris Group Real Estate News Roundup 2/28/11

MDA DataQuick reports 30.9% of all houses and condos sold in California during January were bought without a mortgage. The NAR claims pending home sales fell 2.8% in January. Approximately 25% of homeowners who sought assistance from Obama’s mortgage assistance program successfully had their payments reduced. A survey from Fannie Mae shows 19% of delinquent borrowers are considering a strategic default.

The Norris Group Real Estate News Roundup 2/23/11

The NAR said existing home sales rose 2.7% in January. The FHA’s REO inventory has increased 47% year over year. A California judge upheld the rights of the Mortgage Electronic Registration Systems to the trust deed, granting MERS the right to foreclose. A Federal Reserve economist predicts the government will soon provide an alternative to the national homebuyer tax credit

The Norris Group Real Estate News Roundup 2/18/11

The Federal Reserve will require borrowers who get their mortgages through a broker to receive the lowest possible interest rate. LPS claims the national delinquency rate increased to 8.9% in January. A lawyer was held in contempt of court for helping his clients break back into their house after the foreclosure was ruled legitimate. RadarLogic said national home prices decreased 1.6% in December.

The Norris Group Real Estate News Roundup 1/3/11

Tom Wind of J.I. Kislak Mortgage expects refinancing activity to drop by nearly 66% in 2011. Moody’s Investor Service forecasts lower supply and higher demand for rental apartments in 2011. The 50 state attorneys general probing U.S. foreclosure practices will first settle with Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial. Rick Sharga believes foreclosure activity will improve in Orange County during 2011.

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