Looking Back:<\/span><\/h2>\nOne year ago, the national share of home sales above $750,000 fell from 4.4 percent in 2007 to approximately 2.3 percent in 2009. The number of U.S. households faced with losing their homes to foreclosure jumped 32 percent in April 2009. General Growth Properties received approval for a $400 billion dollar loan to aid their recovery from bankruptcy. Fitch Ratings predicted that home prices would by 36 percent within 18 months of May 2009.<\/p>\n","protected":false},"excerpt":{"rendered":"
According to RealtyTrac, the total number of national foreclosures decreased by 9 percent in March. Economists Lawrence Yun and Mark Zandi predict that mortgage rates will remain historically low over the next few years. CAR reports the minimum household income needed to purchase an entry-level home at $246,270 in California in the first quarter of 2010 was $41,540.Statistics from Freddie Mac show the average rate on a 30-year fixed rate mortgage dipped to 4.93 percent.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[1281,17,81,79,1273,98,362,460,83,107,8,512,77,1096,1280,27,10,64,31,46,94,968],"acf":[],"yoast_head":"\n
The Norris Group Real Estate News Roundup 5\/13\/10<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n\t \n\t \n\t \n","yoast_head_json":{"title":"The Norris Group Real Estate News Roundup 5\/13\/10","description":"This is the real estate and foreclosure news round up from The Norris Group for Thursday, May 13th, 2010.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.thenorrisgroup.com\/the-norris-group-real-estate-news-roundup-51310\/","og_locale":"en_US","og_type":"article","og_title":"The Norris Group Real Estate News Roundup 5\/13\/10","og_description":"This is the real estate and foreclosure news round up from The Norris Group for Thursday, May 13th, 2010.","og_url":"https:\/\/www.thenorrisgroup.com\/the-norris-group-real-estate-news-roundup-51310\/","og_site_name":"The Norris Group - Hard Money California Real Estate Investing","article_published_time":"2010-05-13T21:58:05+00:00","article_modified_time":"2011-01-05T16:39:43+00:00","og_image":[{"width":500,"height":374,"url":"https:\/\/www.thenorrisgroup.com\/wp-content\/uploads\/2020\/12\/Ortega.jpg","type":"image\/jpeg"}],"author":"Norris Bruce","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Norris Bruce","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.thenorrisgroup.com\/the-norris-group-real-estate-news-roundup-51310\/#article","isPartOf":{"@id":"https:\/\/www.thenorrisgroup.com\/the-norris-group-real-estate-news-roundup-51310\/"},"author":{"name":"Norris Bruce","@id":"https:\/\/www.thenorrisgroup.com\/#\/schema\/person\/fff2f4d11d542404cefecae8e31568a2"},"headline":"The Norris Group Real Estate News Roundup 5\/13\/10","datePublished":"2010-05-13T21:58:05+00:00","dateModified":"2011-01-05T16:39:43+00:00","mainEntityOfPage":{"@id":"https:\/\/www.thenorrisgroup.com\/the-norris-group-real-estate-news-roundup-51310\/"},"wordCount":841,"commentCount":0,"publisher":{"@id":"https:\/\/www.thenorrisgroup.com\/#organization"},"keywords":["Al Franken","bruce norris","CAR","CBIA","Chris Dodd","condominium","construction","economic","economist","foreclosure","freddie mac","interest","inventory","Lawrence Yun","Mark Zandi","Moody's","mortgage","NAR","real estate","RealtyTrac","reo","sec"],"articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.thenorrisgroup.com\/the-norris-group-real-estate-news-roundup-51310\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.thenorrisgroup.com\/the-norris-group-real-estate-news-roundup-51310\/","url":"https:\/\/www.thenorrisgroup.com\/the-norris-group-real-estate-news-roundup-51310\/","name":"The Norris Group Real Estate News Roundup 5\/13\/10","isPartOf":{"@id":"https:\/\/www.thenorrisgroup.com\/#website"},"datePublished":"2010-05-13T21:58:05+00:00","dateModified":"2011-01-05T16:39:43+00:00","description":"This is the real estate and foreclosure news round up from The Norris Group for Thursday, May 13th, 2010.","breadcrumb":{"@id":"https:\/\/www.thenorrisgroup.com\/the-norris-group-real-estate-news-roundup-51310\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.thenorrisgroup.com\/the-norris-group-real-estate-news-roundup-51310\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.thenorrisgroup.com\/the-norris-group-real-estate-news-roundup-51310\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.thenorrisgroup.com\/"},{"@type":"ListItem","position":2,"name":"The Norris Group Real Estate News Roundup 5\/13\/10"}]},{"@type":"WebSite","@id":"https:\/\/www.thenorrisgroup.com\/#website","url":"https:\/\/www.thenorrisgroup.com\/","name":"The Norris Group - 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