The Norris Group Real Estate News Roundup 5/6/11

Sources: Nonfarm payrolls add 244,000 jobs, unemployment edges up to 9% A Reversal for Real Estate After Some Mild Gains US March construction spending rose 1.4 percent Home Buyers Go Hunting Alone Private mortgage modifications drop 20% in first quarter Federal government sues Deutsche Bank in NYC, alleging it committed mortgage fraud U.S. May Pursue More Lenders …

The Norris Group Real Estate News Roundup 5/6/11 Read More »

The Norris Group Real Estate News Roundup 4/27/11

If passed, a new California bill will require lenders to make a decision on mortgage modifications before beginning the repossession process. According to the Census Bureau, the national home vacancy rate fell to 2.6% in the first quarter. A study from the University of Chicago’s Booth School of Business shows that 35% of mortgage defaults in the U.S. were strategic during September 2010.

The Norris Group Real Estate News Roundup 4/12/11

81 percent of respondents to a Pew Research Center’s survey believe housing is the best investment a person can make. California foreclosure sales increased 35.1% in March, according to ForeclosureRadar. Altos Research claims home sale inventory rose 2.97% last month. HUD is being sued over a rule requiring a property heir to pay the full mortgage balance to keep the home, even if it exceeds the value of the property.

The Norris Group Real Estate News Roundup 4/1/11

Freddie Mac claims mortgage rates increased slightly to 4.86% last week. Construction spending decreased 1.4 percent in February, according to the Commerce Department. Statistics from the Bureau of Labor Statistics show the U.S. economy added 216,000 nonfarm payroll jobs in March. Veros estimates Orange County home prices will fall 1.3% within a year.

The Norris Group Real Estate News Roundup 3/31/11

The Office of Thrift Supervision reports serious delinquencies decreases in the 4th quarter of 2010. Riverside was pronounced to be the most likely city to experience further economic trouble. Commercial and multifamily mortgage originations increased 88% in the last few months of 2010. Fannie Mae’s mortgage portfolio decreased by 15% in February.