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The Norris Group Real Estate News Roundup 3/17/11

Statistics from the MBA show outstanding commercial/multifamily mortgage debt fell by 0.5% in the 4th quarter of 2010. FHA mortgage delinquencies decreased about 7% year over year. According to MDA DataQuick, 4,991 new and resale houses and condos sold in the Bay Area during February. Also, 27,320 new and resale houses and condos were sold statewide last month.

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 2/7/11

The MBA reports $110 billion in commercial and multifamily mortgages were originated in 2010. 36,500 mortgages were modified through government and proprietary programs in December, according to Fitch Ratings. Altos Research announced plans to release a new, forward valuation model for real estate. S&P claims 80% of the loan modifications that took place over the last 3 years defaulted again within 2 years.

The Norris Group Real Estate News Roundup 1/25/11

69,799 Notices of Default were recorded during the 4th quarter of 2010, according to MDA DataQuick. The Case-Schiller Index shows home prices decreased 1% during November in the nation’s top 20 metropolitan areas. University of the Pacific estimates unemployment will remain above 10% in California for 3 more years. IEmergent expects mortgage loan origination to fall below $1 trillion this year.

The Norris Group Real Estate News Roundup 11/4/10

The MBA reports 3rd quarter commercial and multifamily mortgage loan originations increased 15% from the 2nd quarter. Jobless claims rose 4.5% last week. JPMorgan’s CEO claimed recent affidavit problems affected approximately 127,000 mortgage loans. Bruce Mosler of Cushman & Wakefield Inc. believes commercial real estate rents will rise in 2011.

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 10/6/10

The National League of Cities expects city property-tax revenues to decrease 1.8% in 2010. The IMF still believes a double-dip in real estate is possible. A new program from HUD allows delinquent borrowers, who are unemployed or suffering from a severe medical condition, to receive up to $50,000 at a 0% interest rate. The monthly ADP National Employment Report shows the private sector lost 39,000 jobs in September.

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

Mortgage rates increased to 4.35 percent after weeks of record-breaking lows. Jobless claims fell 5.6% last wek, according to the Labor Department. Callahan & Associates reports credit unions originated $31.4 billion in mortgages during the first 2 quarters. Statistics from Real Capital Analytics show hotel purchases increased 136% during the first two quarters.

The Norris Group Real Estate News Roundup 8/24/10

Existing home sales experienced a dramatic decrease of 27.2 percent in July, according to the NAR. Housing production decreased by 10 percent in June. The CAR reports California home sales decreased 20.8 percent in July. Statistics from the California Employment Development Department show that 7,100 jobs were lost from July 2009.

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