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The Norris Group Real Estate News Roundup 12/01/10

Freddie Mac announced it will suspend foreclosure evictions from Dec. 20 to Jan. 3, 2011. Automatic Data Processing reports the U.S. economy added 93,000 private-sector jobs during November. The Federal Reserve shared information about more than 21,000 individual transactions which provided $3 trillion in liquidity for market stabilization. According to the MBA, mortgage applications decreased 16.5% last week.

The Norris Group Real Estate News Roundup 11/8/10

The NAR reports FHA, Fannie Mae and Freddie Mac account for over 90% of the mortgage market. New California building codes, known as CALGreen, will be enforced on January 1st. Richard Fisher of the Dallas Federal Reserve believes the low interest rates are doing little to stimulate the economy. Fannie Mae acquired 85,340 REO properties in the 3rd quarter.

The Norris Group Real Estate News Roundup 10/18/10

A Rasmussen survey finds that 31% of homeowners expect their home prices to fall over the next year, while 50% expect their home values to increase over the next 5. According to the NAHB, builder confidence increased for the first time in 5 months. The Federal Reserve Bank of New York reports over 66% of small businesses experienced declines in sales and revenue during the first half of the year. Robert Curran believes demand for housing will not return any earlier than late winter.

The Norris Group Real Estate News Roundup 10/12/10

Multiple states are cooperating in an investigation to determine whether or not lenders violated foreclosure laws when seizing houses from delinquent borrowers. The U.S. is now the second largest holder of U.S. debt. A survey from the National Association for Business Economics shows that economists expect gross domestic product will increase 2.6% in 2010 and 2011. According to a Thomson Reuters survey, 63% of potential home buyers are discouraged from buying a home because of the current economic conditions.

The Norris Group Real Estate News Roundup 9/23/10

Existing home sales increased 7.6% last month, according to the NAR. The MBA reports commercial and multifamily mortgage debt decreased to $3.24 trillion in the second quarter. The CAR’s monthly analysis shows California home sales rose 1.8 percent from July. Freddie Mac said mortgage rates did not change this week, despite Zillow’s claim they decreased.

The Norris Group Real Estate News Roundup 9/20/10

The NAHB’s monthly survey shows builder confidence remained at the previous month’s low level. Trepp claims that commercial real estate loans were the cause of 5 of the 6 bank failures that occurred over the weekend. FHA insured mortgages accounted for 37% of all originations last year, according to the Federal Financial Institutions Examination Council. In a recent survey, nearly 50% of economists claimed that economic growth in 2011 would be below the Fed’s estimated 2.5% annual pace.

The Norris Group Real Estate News Roundup 9/17/10

Fitch Ratings reports delinquencies on commercial real estate CDOs increased to 12.1% last month. Statistics from BarCap show GDP slowed to an annual rate of 1.6% in the 2nd quarter. I Survived Real Estate 2010 is taking place tonight. Multiple experts from different regions of the real estate industry will be speaking at the event. You can watch it live at www.isurvived2010.com

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