The Norris Group Real Estate News Roundup 12/17/13

Today’s News Synopsis: The NAHB reported builder confidence for new single-family homes  increased by four points to 58.  The increase in home prices has led to 791,000 properties being brought out of negative equity, although 6.4 million remain underwater.  The FHFA reported HARP refinances decreased in the third quarter to less than 900,000 despite the …

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The Norris Group Real Estate News Roundup 8/18/10

HAMP’s permanent loan modifications increased 5.9% by the Bank of America, while the number of applications for mortgages increased 13%. On the same note, according to the Mortgage Bankers Association the number fo refinancings for mortgages increased 17.1% in the previous week. Fannie Mae and Freddie Mac began searching for any bad loans or dishonest loan applications, while in other news Barney Frank believes Fannie Mae and Freddie Mac should no longer be allowed to operate. Also, as the demand on homes decreases, the merging and aquisition of homebuilders may rise. On a similar note, Veri-tax is now owned by Blue Horizon Capital. The Real Estate Book was just released, hopefully making looking for a home easier. In Orange County, the number of homes repossessed decreased 10%, but default notices have increased 9%. Homebuilders are looking to build more smaller homes, as this is what the current generation seems to be interested. Finally, the Fed’s have come up with a plan to prepare for an increasing decline in the economy by using money made from securities to buy Treasuries.

The Norris Group Real Estate News Roundup 8/4/10

Mortgage application volume increased 1.3 percent this week, according to the MBA. Large home builders, such as PulteGroup and DR Horton, are claiming a quarterly profit. Analysts expect total payrolls to decline in official Census data which is due Friday. The American Bankruptcy Institute expressed concerns that consumer bankruptcies might total 1.6 million this year.

The Norris Group Real Estate News Roundup 6/8/10

A survey from the NFCC shows that only 23 percent of Americans consider strategic default to be acceptable when underwater on a mortgage. Startingtoday, Real Estate Disposition is auctioning more than 350 bank-owned foreclosures in California. According to IAS, national home prices were up 0.9% in April from March. An executive from RealtyTrac believes U.S. foreclosure activity will not stabilize until late 2011.

The Norris Group Real Estate News Roundup 5/26/10

The Commerce Department reports sales of new single-family homes rose 14.8 percent in April. Mortgage application volume increased 11.3 percent on a seasonally adjusted basis from one week earlier. The NAR predicts commercial vacancy rates will increase from 16.9 percent in the first quarter of this year to 17.6 percent in the first quarter of 2011. According to Freddie Mac, home prices declined 1.1% in quarter 1 of 2010 compared to the same quarter one year ago.

The Norris Group Real Estate News Roundup 12/23/09

Homebuilders pulled 46 percent fewer permits from November of last year. According to the Mortgage Bankers Association, mortgage application volume decreased by 10.7 percent from last week. Freddie Mac purchased 13 percent fewer mortgage purchases from the previous month. Equifax reports that HELOC originations fell 36 percent from one year ago.