The Norris Group Real Estate News Roundup 10/29/10

Fannie Mae intends to end the Payment Reduction Plan. McGraw-Hill Construction (MHP: 37.65 +0.32%) expects construction starts in 2011 to increase 8%. According to a survey from the Washinton Post, 1/3 of Americans are concerned about their ability to continue making their housing payments. The U.S. economy grew at a 2 percent annual rate in the 3rd quarter.

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

The MBA estimates total originations in 2011 will be $400 billion less than the total for 2010. According to MDA DataQuick, 83,261 Notices of Default were recorded at California county recorder offices during the 3rd quarter. Lender Processing Services is releasing a new valuation model that brings listing and pending sale data into the equation. The FHFA claims U.S. house prices increased 0.4% in August.

The Norris Group Real Estate News Roundup 9/24/10

Attorney General Brown is interfering with Ally Financial’s mass foreclosure operation, and may force the company to cease all foreclosure activity in California. Multiple government agencies have put out statistics on home sales. Freddie Mac’s total mortgage portfolio decreased 5.2% last month. Thirty-day delinquent inventory fell to 9.22%, according to LPS. S&P predicts the current level of shadow inventory will take 40 months to clear.

The Norris Group Real Estate News Roundup 7/28/10

Commercial and multifamily mortgage origination increased by 35 percent in the second quarter. Mortgage application volume decreased 4.5 percent from last week, according to the MBA. Freddie Mac reports Americans took out $8.3 trillion in home equity during the second quarter. The current number of foreclosure starts for 2010 has reached 1.46m.

The Norris Group Real Estate News Roundup 7/26/10

The Commerce Department new home sales increased 23.6% last month. Statistics from LPS show show 9.39% of all loans were delinquent by more than 30 days. The national vacancy rate on multifamily properties decreased to 7.8%, according to BarCap. A survey from Campbell Survey suggests that home prices will continue to fall.

The Norris Group Real Estate News Roundup 7/6/10

According to Lender Processing Services, the national mortgage delinquency rate increased to 9.2% in May. REIS reports national office vacancies increased by 0.1 percent in the second quarter to 17.4 percent. The former CEO of Irvine Co. believes the housing and commercial real estate market will be rocky for the next year or two due to the volume of underwater loans. The former secretary of labor, Robert Reich, believes the U.S. economy will have a very slow recovery, and may experience a double dip.

The Norris Group Real Estate News Roundup 6/3/10

Stats from Freddie Mac show the average rate for 30-year FRMs increased to 4.79 percent. Moody’s Investor Service reports commercial property values are down 42% from the peak in 2007. According to Trulia, many areas in the United States are now becoming cheaper to rent than own in. The US Department of Labor (DOL) received 10,000 fewer initial unemployment claims in the week ending May 29 than the previous week.

The Norris Group Real Estate News Roundup 6/1/10

The head of CoreLogic believes the real estate market has bottomed. According to the Commerce Department, construction spending increased 2.7 percentlast month. LPS reports the number of loans 90 or more days past due — including pre-sale foreclosure — declined by nearly 3% to just over 4.07m from nearly 4.19m in March.According to Altera Real Estate, housing demand has dropped by 17%.

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