Latest Real Estate News http://www.insidetract.com http://blogs.law.harvard.edu/tech/rss en-us Mon, 6 Feb 2012 10:46:21 -0800 info@insidetract.com Mon, 6 Feb 2012 10:44:15 -0800 5 larrystimson@verizon.net FeedForAll v2.0 (2.0.2.9) http://www.feedforall.com The biggest remaining holdout, California, has returned to the negotiating table after a four-month absence, a change of heart that could increase the pot for mortgage relief nationwide to $25 billion from $19 billion. http://www.cnbc.com/id/46275718 A04C83EC-D303-4659-B5B1-9D528100E01B Mon, 6 Feb 2012 10:44:15 -0800 First there are two bottoms for housing. The first is for new home sales, housing starts and residential investment. The second bottom is for prices. Sometimes these bottoms can happen years apart. http://www.calculatedriskblog.com/2012/02/housing-bottom-is-here.html EF6E3B0B-EAF0-469A-B3D5-D2CA5C0C06DE Mon, 6 Feb 2012 10:41:40 -0800 The list of housing markets showing measurable improvement expanded by 29 metros in February to include a total of 98 entries on the National Association of Home Builders/First American Improving Markets Index (IMI), released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14965 50570170-9632-49E8-B14E-2A301106BCC6 Mon, 6 Feb 2012 10:38:56 -0800 The Obama administration announced two new so called "bold" plans to shore up U.S. housing: one on the supply side of the equation; the other on the demand side. One will not pass and the other is questionable. http://www.ocregister.com/articles/new-338591-refinancing-mortgage.html F787F0BF-A8AA-410D-9345-7EA5433B350B Mon, 6 Feb 2012 10:28:09 -0800 Rep. Barney Frank and two other House Financial Services Committee Democrats on Monday pressed Edward DeMarco, the regulator of seized housing finance giants Fannie Mae and Freddie Mac, to write-down the principal on mortgages of underwater homes. http://www.latimes.com/business/money/la-fi-mo-principal-writedowns-20120206,0,6192746.story?track=rss 59949066-5975-4090-9180-C849B775C3DF Mon, 6 Feb 2012 10:25:20 -0800 Fannie Mae and Freddie Mac, the mortgage giants under government conservatorship, together owned 182,212 foreclosed properties as of the end of September. http://www.cnbc.com/id/46238350 50845D24-CDBD-4AB8-B7B1-868D97720EB0 Mon, 6 Feb 2012 10:20:04 -0800 U.S. small business hiring was flat in January, a poll released on Friday showed, slightly better than the previous month's reading but still far from levels consistent with strong employment growth. http://www.cnbc.com/id/46186264 99148EDF-8D41-4EBB-A918-C2A21B78D6BA Fri, 3 Feb 2012 07:42:58 -0800 The pace of job creation surged in January, with the US economy generating 243,000 new positions while the unemployment rate dropped to 8.3 percent, according to government data released Friday. http://www.cnbc.com/id/46250775 6034B31F-2768-4500-8F2C-6C66502E57E0 Fri, 3 Feb 2012 07:30:14 -0800 More parents are taking on the role as mortgage lenders to help their kids take advantage of low home prices and record-low mortgage rates. http://realtormag.realtor.org/daily-news/2012/02/02/more-parents-act-kids-mortgage-lender 5CEF9576-6CB6-4ED4-B7B4-00CCF18C3EB1 Fri, 3 Feb 2012 07:26:23 -0800 Homeowners who refinanced their homes during the fourth quarter of 2011 either refinanced for about the same amount or actually brought cash to the table according Freddie Mac. http://www.mortgagenewsdaily.com/02022012_refinancing.asp 5DF0C464-177D-4F43-8EC9-1E509D0EF3BE Fri, 3 Feb 2012 07:22:58 -0800 San Diego county treasurer-tax collector is scheduled to sell off more than 200 properties belonging to people who have been in default for five years on Feb. 24. http://www.utsandiego.com/news/2012/feb/03/seeking-home-deal-county-holding-auction/ 60E51D8E-4D0A-40D3-A76E-DD5D662F036F Fri, 3 Feb 2012 07:19:31 -0800 Fannie Mae mortgage servicers can complete short sales and deeds in lieu of foreclosure without getting separate approval from the now bankrupt mortgage insurer The PMI Group, a change that's expected to further reduce barriers to short sales. http://housingwire.com/article/pmi-group-latest-mortgage-insurer-give-fannie-mae-short-sale-authority FCF0C52E-03C5-4A03-BA89-C26817DBF256 Fri, 3 Feb 2012 07:13:19 -0800 The CoreLogic HPI shows that, including distressed sales, home prices in the U.S. decreased 4.7 percent in 2011 compared with December 2010. http://www.calculatedriskblog.com/2012/02/corelogic-house-price-index-declined-14.html 01BD78C5-4417-4E88-A394-0AE5E8EC98FB Fri, 3 Feb 2012 07:06:41 -0800 ng federal budget deficits are posing a significant threat to the U.S. economy and are likely to cause a crisis if not brought under control, Federal Reserve Chairman Ben Bernanke told Congress Thursday. http://www.cnbc.com/id/46236869 A37510A8-0FEE-45A1-84E1-0EC0D3A04438 Thu, 2 Feb 2012 08:08:02 -0800 Freddie Mac today announced 30-year fixed-rate mortgage averaged 3.87 percent with an average 0.8 point for the week ending February 2, 2012, down from last week when it averaged 3.98 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=118736 B4D2FA84-D777-4153-804E-D8EF1E39B3AA Thu, 2 Feb 2012 08:03:44 -0800 The DOL reports for the week ending January 28, the advance figure for seasonally adjusted initial claims was 367,000, a decrease of 12,000 from the previous week's revised figure of 379,000. http://www.calculatedriskblog.com/2012/02/weekly-initial-unemployment-claims.html 7B82D455-4548-43CC-BB16-9B050275100E Thu, 2 Feb 2012 08:01:07 -0800 Nearly one in three small-business owners has borrowed against the equity in his or her home, or used the home as collateral for a loan to fund the business, according to a 2009 survey conducted by Gallup for the National Federation of Independent Business. http://online.wsj.com/article/SB10001424052970203686204577112761171475078.html?mod=WSJ_RealEstate_LeftTopNews FF0BDF7E-70EE-409B-B75C-B53366024DA5 Thu, 2 Feb 2012 08:00:02 -0800 The home ownership rate took another dip in the fourth quarter of 2011, falling for the seventh year in a row as fewer Americans own their homes. http://realtormag.realtor.org/daily-news/2012/02/01/home-ownership-rate-drops-1997-levels 0F1056B0-83A5-4323-902C-489D40F92C60 Thu, 2 Feb 2012 07:56:28 -0800 NAR commends President Obama for pledging to assist homeowners and the struggling housing market, because restoring the health of the housing market is critical for the nation’s economic recovery. http://www.realtor.org/press_room/news_releases/2012/01/obama_housing EA2F3930-961E-40A7-9FBB-D499B7104A58 Thu, 2 Feb 2012 07:55:12 -0800 David H. Stevens, MBA President and CEO said that lack of financing can be traced to a single factor, market uncertainty. http://www.mortgagenewsdaily.com/02012012_mba_state_of_the_industry.asp 82F3F212-661A-4052-B36F-EB849A357EF9 Thu, 2 Feb 2012 07:54:01 -0800 Taking sales volume in consideration, home-sale pricing was down in ZIPs representing 90% of the Orange County market. http://lansner.ocregister.com/2012/02/02/home-selling-prices-drop-in-90-of-o-c/158065/ 71EB19F8-F554-49A8-92C4-637BD00E7899 Thu, 2 Feb 2012 07:48:38 -0800 San Diego timeshare owners, beware of pushy scammers who promise without solicitation to sell or rent your properties in a quick amount of time and ask for upfront payment for services. http://www.utsandiego.com/news/2012/feb/02/scammers-prey-san-diego-timeshare-owners/ F403FE4C-8261-4F86-BEC8-A92FAE0DA5B3 Thu, 2 Feb 2012 07:46:25 -0800 The proposal would allow some homeowners a chance to refinance their loans, but critics call it a bailout. http://www.pe.com/local-news/politics/ben-goad-headlines/20120202-housing-obama-rolls-out-foreclosure-relief-plan.ece A2E4D830-27A1-4701-BB0A-E4A2E24C24AC Thu, 2 Feb 2012 07:44:47 -0800 The U.S. Census Bureau of the Department of Commerce announced today that construction spending during December 2011 was estimated at a seasonally adjusted annual rate of $816.4 billion, 1.5 percent above the revised November estimate of $804.0 billion. http://www.calculatedriskblog.com/2012/02/construction-spending-increased-15-in.html 5F0522AB-45A5-49BE-8CDC-A9BFA2CFB08E Thu, 2 Feb 2012 07:38:51 -0800 The regulator for mortgage finance companies Fannie Mae and Freddie Mac said Wednesday investors could now sign up to pre-qualify to bid on foreclosed properties held by the government-controlled firms. http://www.cnbc.com/id/46220167 02DAC9DF-758F-44AC-8F6E-3AF8341270EE Wed, 1 Feb 2012 07:42:29 -0800 Tuesday's report that prices continue to slump has tempered hopes that the U.S. housing market is finally turning. But right now, the connection between what the S&P/Case-Shiller index says and what is actually going on with housing may be lukewarm at best. http://online.wsj.com/article/SB10001424052970203920204577195332016018286.html?mod=WSJ_RealEstate_LeftTopNews 40E7948C-482A-4B60-957F-F1DB2629ABFF Wed, 1 Feb 2012 07:40:49 -0800 California needs to come up with more than $3 billion to avoid burning through its cash by March, according to the state controller, who urged borrowing and delaying some payments. http://www.cnbc.com/id/46212105 5047A5E1-2A5D-4852-B635-140565C3AB91 Wed, 1 Feb 2012 07:35:39 -0800 The private sector created 170,000 jobs in January, boosted again by a surge in service-sector employment, according a report from ADP and Macroeconomic Advisors. http://www.cnbc.com/id/46218232 F9134505-EF19-4B14-834F-D097E69C32C2 Wed, 1 Feb 2012 07:34:29 -0800 The MBA Refinance Index decreased 3.6 percent from the previous week. The Purchase Index decreased 1.7 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/79574.htm 4AB4B347-7DA9-4F65-B46A-C6E1FDD15FF7 Wed, 1 Feb 2012 07:31:30 -0800 Ally Financial Inc. has concluded that it will record a charge of approximately $270 million in the fourth quarter of 2011 for penalties expected to be imposed by certain of our regulators and other governmental agencies in connection with foreclosure related matters. http://www.calculatedriskblog.com/2012/01/mortgage-settlement-ally-takes-270.html 5DC15B4B-80C4-40FA-AA39-D25D03FDCF87 Wed, 1 Feb 2012 07:28:29 -0800 By Thursday, a large CAT excavator will begin tearing up the packed, dry grassland at the north end of the former El Toro Marine Air Station. http://lansner.ocregister.com/2012/01/31/earthmovers-readied-for-first-great-park-homes/157962/ AE0A0331-F78E-46F0-A755-D3ECA2936F17 Wed, 1 Feb 2012 07:26:13 -0800 After announcing during his State of the Union address a new government refinance program for, "responsible" but "underwater" borrowers with privately held mortgages, President Obama is expected to detail the plan today. http://www.cnbc.com/id/46218849 F1FC71B2-9869-4820-B389-03293A60EB07 Wed, 1 Feb 2012 07:23:02 -0800 In 2010 and 2011, mortgage giant Freddie Mac invested billions of dollars on bets that homeowners with high-interest mortgages would not be able to refinance at today's lower interest rates. http://www.inman.com/news/2012/01/30/report-freddie-mac-bets-against-homeowner-refinancings F9F7CFD1-BF0D-4F85-930C-C671B3156DFA Wed, 1 Feb 2012 07:20:33 -0800 Fannie Mae reported that the Single-Family Serious Delinquency rate declined in December to 3.91%. Freddie Mac reported that the Single-Family serious delinquency rate increased to 3.58% in December. http://www.calculatedriskblog.com/2012/01/fannie-mae-serious-delinquency-rate.html 2FD91194-D130-4FBD-9AD1-E1A829D29E26 Wed, 1 Feb 2012 07:15:19 -0800 Consumer confidence retreated in January after two straight months of big gains, a private research group said Tuesday. http://www.cnbc.com/id/46203320 869C87C4-9FD1-4DAB-97BF-96BA01003610 Tue, 31 Jan 2012 08:38:43 -0800 Just 6 percent of Orange County’s retail space was empty in the fourth quarter - almost half the national vacancy rate of 11 percent, says commercial real estate trackers at Reis Inc. http://retail.ocregister.com/2012/01/30/o-c-5th-fewest-empty-stores-in-u-s/69019/ 071B95DB-DA9C-47FC-B58B-6B73E7E6007C Tue, 31 Jan 2012 08:10:32 -0800 Homes sold through the broker-run multiple listing service generated $13.8 billion in 2011 - 10.8% less than in 2010, according to figures from the California Regional Multiple Listing Service. http://lansner.ocregister.com/2012/01/30/home-commissions-fell-100-million-in-11/157818/ C745F74C-9BBE-460C-8EDC-2BEB0B31D212 Tue, 31 Jan 2012 08:08:13 -0800 The evidence for a recovery is compelling, but optimists should actually be watching rising interest rates. http://finance.fortune.cnn.com/2012/01/30/housing-recovery/?iid=HP_Highlight FE0372DF-2816-4F7E-A12B-3FE624ADE515 Tue, 31 Jan 2012 08:04:42 -0800 U.S. home prices fell for a third straight month in nearly all cities tracked by a major index. The declines show that most homeowners are not reaping the benefits from some signs of an improving housing market. http://www.cnbc.com/id/46202598 74A52825-E0A9-455C-B820-99DC9C0F3EF8 Tue, 31 Jan 2012 08:03:53 -0800 President Barack Obama last week outlined a forthcoming plan to allow more homeowners who are current on their mortgages to refinance at today’s low rates. http://blogs.wsj.com/developments/2012/01/30/why-a-new-refinance-program-faces-long-odds/?mod=WSJBlog&mod=WSJ_Real%20Estate_BLOGSDEVELOPMENTSFEED 4442485C-135F-49DD-B41C-A4FE4CA9A3F8 Tue, 31 Jan 2012 08:01:42 -0800 Overall, in the January survey, domestic banks reported that their lending standards had changed little and that they had experienced somewhat stronger loan demand, on net, over the past three months. http://www.calculatedriskblog.com/2012/01/fed-senior-loan-officer-survey-lending.html 993A3C0F-1FAE-48C3-BACE-3DC0604F78D9 Tue, 31 Jan 2012 07:59:39 -0800 Personal income increased $61.3 billion, or 0.5 percent in December, according to the Bureau of Economic Analysis. Personal consumption expenditures decreased $2.0 billion, or less than 0.1 percent. http://www.calculatedriskblog.com/2012/01/personal-income-increased-05-in.html ED82EF1C-C70C-4538-8873-F538A424BCEE Tue, 31 Jan 2012 07:57:58 -0800 Google, Microsoft and other companies are working together to combat email "phishing" scams. They've formed an organization to design a system to authenticate emails from legitimate senders and weed out scams. http://finance.yahoo.com/news/Tech-companies-team-combat-apf-4137388889.html?x=0 E586AC7E-38FF-482B-B418-0EBC5898286A Mon, 30 Jan 2012 08:40:32 -0800 Consumer spending was flat in December as households took advantage of the largest rise in income in nine months to boost their savings, setting the tone for a slowdown in demand early in 2012. http://www.cnbc.com/id/46188283 BC385E8D-E165-4287-AA91-4B6831548E13 Mon, 30 Jan 2012 08:34:46 -0800 ■The typical seller tenure in home from 2001 to 2008 was 6 years. In 2009, the median years the seller stayed in the home edged up to 7 years. In 2011, the typical seller sold their home after owning it after 9 years. http://economistsoutlook.blogs.realtor.org/2012/01/25/tenure-in-the-home-and-motivation-for-selling/ 343139B6-D759-4950-ADE0-A8AB276D71FD Mon, 30 Jan 2012 08:31:44 -0800 Many Americans say now is a good time to buy a home, thanks to record-low mortgage interest rates and bargain home prices that are boosting affordability. But is it a good time to sell a house? http://www.marketwatch.com/story/it-may-be-time-to-buy-but-is-it-time-to-sell-yet-2012-01-30 07CFDAD1-D63F-49A5-854E-1EDBC1E0F0C7 Mon, 30 Jan 2012 08:27:57 -0800 Homebuying in Seal Beach sped up 26% in two weeks as the city's level of distressed homes fro sale was Orange Count's lowest. http://www.ocregister.com/articles/homes-337929-sale-seal.html 969DA0ED-0217-4E10-9C05-3273CB97EB85 Mon, 30 Jan 2012 08:26:08 -0800 Nearly seven years after Lennar Corp. purchased the former El Toro Marine base from the U.S. Navy, the company’s management partner is about to start building roads, laying sewer lines and laying out home sites. http://lansner.ocregister.com/2012/01/29/questions-remain-about-great-park-funding/157742/ A7DAC291-4A74-41EB-8DBC-E03B501EA4E3 Mon, 30 Jan 2012 08:22:18 -0800 The Treasury Department will triple payments to mortgage investors for reducing borrower principal through an expanded Home Affordable Modification Program announced Friday. http://www.housingwire.com/2012/01/27/treasury-to-pay-investors-triple-for-hamp-principal-reductions 6EBE186C-F5AD-4338-BF52-7F581AD86137 Mon, 30 Jan 2012 08:18:31 -0800 Since the end of 2009, the quarterly relocation rate has averaged around 7.9%. That’s half the pre-recession rate of 15.7% and lower than the 13.2% of candidates willing to uproot during the recession. http://www.latimes.com/business/money/la-fi-mo-job-relocation-20120126,0,4586434.story 9C7612A1-6BAE-4CFD-9BF2-48BE72E0BBD6 Mon, 30 Jan 2012 08:15:05 -0800 The final January Reuters / University of Michigan consumer sentiment index increased to 75.0, up from the preliminary reading of 74.0, and up from the December reading of 69.9. http://www.calculatedriskblog.com/2012/01/consumer-sentiment-increases-in-january_27.html 243A6BCE-4B16-4148-A4F1-0B3ED856DB3E Fri, 27 Jan 2012 07:28:47 -0800 Tax relief on forgiven or cancelled debt to disappear at end of year. http://www.marketwatch.com/story/walking-away-from-home-may-cost-more-2012-01-27 11E78B6F-8477-454A-AE8F-F85258BA9E45 Fri, 27 Jan 2012 07:17:41 -0800 The trade organization says the compensation rules allow appraiser management companies, who are middlemen, to call the shots on how much appraisers get paid, leading to reduced wages for the same amount of work, or more, even though homeowners are paying the same, or sometimes more, for home appraisals. http://www.utsandiego.com/news/2012/jan/26/appraisers-say-feds-rule-has-hurt-their-pay-homeow/ A3567B6C-CE4A-4B32-945C-CFFB8345636F Fri, 27 Jan 2012 07:12:33 -0800 Two new initiatives from President Obama to address the foreclosure crisis - more help for struggling homeowners and aggressive investigations of financial firms - face significant hurdles as the nation's real estate troubles linger in a volatile election year. http://www.latimes.com/business/la-fi-obama-mortgage-20120126,0,2858269.story F6105005-576A-4B50-83F1-EDF93C718A88 Fri, 27 Jan 2012 07:07:33 -0800 Following three consecutive months of gains, sales of newly built, single-family homes edged down 2.2 percent to a seasonally adjusted annual rate of 307,000 units in December, according to newly released figures from the U.S. Commerce Department. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14827 050741CB-5AC3-49D3-AC07-10FD6B9EE034 Fri, 27 Jan 2012 06:57:02 -0800 New U.S. single-family home sales unexpectedly fell in December for the first time in four months and the median home price dropped, dampening some of the hopes the housing sector will boost the economy this year. http://www.cnbc.com/id/46147409 479FDF0D-D6CC-40D4-8487-9E12709F368C Thu, 26 Jan 2012 07:20:03 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.98 percent with an average 0.7 point for the week ending January 26, 2012, up from last week when it averaged 3.88 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=117152 B21DB877-8026-429E-8648-40388EE64698 Thu, 26 Jan 2012 07:18:36 -0800 The DOL reports in the week ending January 21, the advance figure for seasonally adjusted initial claims was 377,000, an increase of 21,000 from the previous week's revised figure of 356,000. http://www.calculatedriskblog.com/2012/01/weekly-initial-unemployment-claims_26.html 5BDA8EAE-FEA4-477B-A88B-B91B6F033655 Thu, 26 Jan 2012 07:14:54 -0800 Responding to falling prices and stiff competition from foreclosures, home building activity in 2011 dropped to an all-time low in Inland Southern California, according to a report released Wednesday by the California Building Industry Association. http://www.pe.com/business/business-headlines/20120125-real-estate-california-home-construction-reaches-all-time-low-in-2011.ece DDBFF31E-5181-4758-926D-AD49CCFFBCD8 Thu, 26 Jan 2012 07:07:20 -0800 In swift response to Obama’s State of the Union address, James Pethokoukis, a columnist for American Enterprise, characterized Obama’s housing proposal as "a housing policy bombshell" for the real estate and banking industries. http://www.pe.com/business/business-insider-headlines/20120125-real-estate-obamas-mass-refinancing-proposal-called-bombshell.ece B508EED7-8F9C-49CF-96BB-1EF6D353E7AF Thu, 26 Jan 2012 07:06:07 -0800 Calif. Atty. Gen. Kamala D. Harris' office has called a proposed $25-billion settlement with the nation’s mortgage industry "inadequate." http://www.latimes.com/business/money/la-fi-mo-mortgage-settlement-20120125,0,7414913.story?track=rss A1717CA0-5040-41A1-8B92-60CE281E71BE Thu, 26 Jan 2012 07:04:10 -0800 The Federal Reserve signaled Wednesday that a full economic recovery could take nearly three more years, and it went further than ever to assure consumers and businesses that they will be able to borrow cheaply well into the future. http://www.mercurynews.com/breaking-news/ci_19818265 04AC1122-447C-41D9-AE5F-76A9B493C4BD Thu, 26 Jan 2012 07:01:54 -0800 California pending home sales lower in December; distressed sales rise as lenders push through more REOs, short sales, C.A.R. reports. http://www.car.org/newsstand/newsreleases/2012releases/decpending/ F88019B4-5382-4FEF-AB71-14AD039FCE15 Wed, 25 Jan 2012 07:33:08 -0800 NAR reports the Pending Home Sales Index, a forward-looking indicator based on contract signings, declined 3.5 percent to 96.6 in December from 100.1 in November but is 5.6 percent above December 2010 when it was 91.5. http://www.realtor.org/press_room/news_releases/2012/01/phs_dec D12DBABB-AB34-461D-83FC-9E8B7F3A26A9 Wed, 25 Jan 2012 07:31:42 -0800 The MBA reports Refinance Index decreased 5.2 percent from the previous week. The seasonally adjusted Purchase Index decreased 5.4 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/79485.htm BC105D59-6D45-4FF9-93CC-2E1BF61DE8D6 Wed, 25 Jan 2012 07:29:29 -0800 The number of California homes going into foreclosure dropped in the fourth quarter of 2011 to the second-lowest level in more than four years, the result of evolving lender and mortgage servicer policies as well as shifting market conditions, a real estate information service reported. http://www.dqnews.com/Articles/2012/News/California/CA-Foreclosures/RRFor120124.aspx 5BE22331-A90A-45B2-963D-D395CE5D4E7C Wed, 25 Jan 2012 07:28:18 -0800 California has 21% fewer people holding a real estate license than it did five years ago when the tally peaked at just under 550,000 licensees, state figures show. http://lansner.ocregister.com/2012/01/24/1-in-5-gave-up-real-estate-license/157584/ 506A44F1-C82F-49E6-8014-A907BBBA8E9B Wed, 25 Jan 2012 07:26:14 -0800 President Obama is expected to announce the creation of a Mortgage Crisis unit that will probe misconduct leading up to the housing bust, according to a person familiar with the announcement. http://www.latimes.com/business/money/la-fi-mo-mortgage-unit-20120124,0,1156705.story?track=rss 3FCCB981-99E3-4027-9777-AE1B213AEA4A Wed, 25 Jan 2012 07:24:00 -0800 Nevada continued to record the highest unemployment rate among the states, 12.6 percent in December. California posted the next highest rate, 11.1 percent. http://www.calculatedriskblog.com/2012/01/state-unemployment-rates-slightly-lower.html 1BEF6BBE-4FDD-4F27-A2C4-E75F8C824221 Wed, 25 Jan 2012 07:19:09 -0800 It was easy to miss, but last Friday afternoon the Federal Housing Administration hinted that it is finally ready to resolve a real estate and mortgage issue that has been simmering away on the back burner for the past two years. http://www.car.org/newsstand/newsreleases/todaysheadlines/inman/ 848D6AA2-0FFA-49F2-89CB-0032C8949093 Wed, 25 Jan 2012 07:17:37 -0800 The FHFA analysis showed that principal reductions would be more costly for taxpayers than other alternatives. http://www.fhfa.gov/webfiles/23057/FHFAltrPrincipalForgiveness12312F.pdf 59A0349B-672E-46B7-B476-A6ACA8D270C6 Tue, 24 Jan 2012 07:06:36 -0800 The convicted mastermind of a $100 million mortgage fraud scheme pleaded guilty on Monday to plotting the death of a crucial witness in his trial while behind bars. http://www.nytimes.com/2012/01/24/nyregion/jailed-for-mortgage-fraud-aaron-hand-pleads-guilty-to-murder-plot.html?_r=1 5004160A-53E9-48D3-9FC8-F03E1550E5D7 Tue, 24 Jan 2012 07:03:41 -0800 The nation's five largest mortgage lenders have agreed to overhaul their industry after deceptive foreclosure practices unfairly evicted homeowners, government officials said Monday. http://www.usatoday.com/money/economy/housing/story/2012-01-23/landmark-mortgage-settlement/52757250/1 A6DABB62-2C2E-4DD4-9FD5-EE95BAD56DB0 Tue, 24 Jan 2012 06:51:33 -0800 A new economic forecast calls for the U.S. economy to make some modest growth strides this year, but not quite enough to significantly reduce the number of jobless Americans looking for work. http://www.cnbc.com/id/46098984 E31CC3E0-AFCB-4EED-8855-95F061773B37 Mon, 23 Jan 2012 07:57:23 -0800 As the race for the 2012 Presidential Election gets rolling, a new survey from the National Association of Home Builders (NAHB) shows what is on voters' minds. http://realtytimes.com/rtpages/20120123_realestateoutlook.htm 4352CCAD-1B9A-444A-AC0B-0E7DB9C1D675 Mon, 23 Jan 2012 07:54:47 -0800 Cash buyers, principally investors, may be putting downward pressure on home prices according to the Campbell/Inside Mortgage Finance Housing Pulse Tracking Survey released Monday. http://www.mortgagenewsdaily.com/01232012_home_prices.asp 59BCCE3C-4AF6-4E1E-BED4-7BB1958F1F65 Mon, 23 Jan 2012 07:51:10 -0800 Bank of America certainly turned some heads last week when it told its retail loan officers nationwide that the lender will halt, for now, originations of cash-out refinancings, citing what it calls a "surge of refinancing activity" and capacity problems. http://www.mortgagenewsdaily.com/channels/pipelinepress/01232012-mortgage-jobs-cash-out-refi.aspx 01A6B8F3-C5F5-45F5-B316-5D07BCB5F124 Mon, 23 Jan 2012 07:49:53 -0800 One analysis of real estate for sale in Laguna Woods shows the market speedier in its last tabulation. http://www.ocregister.com/articles/woods-336827-laguna-market.html C6EE2632-E066-4843-989A-37A300F3F4DA Mon, 23 Jan 2012 07:44:03 -0800 A $2 billion state program that could save 100,000 homeowners from falling into foreclosure has provided relief to borrowers, but some critics wonder if the relief is too little, too late. http://www.utsandiego.com/news/2012/jan/21/help-may-be-past-due/ 305B5E19-464F-4ADC-9A0A-9749DA088F8F Mon, 23 Jan 2012 07:37:50 -0800 Existing-home sales continued on an uptrend in December, rising for three consecutive months and remaining above a year ago, according to the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2012/01/ehs_dec 84B4D027-697F-4FF9-B0B0-D6D493D8637B Fri, 20 Jan 2012 08:47:50 -0800 Pending home sales in California fell in November but were up from the previous year for the seventh consecutive month. http://www.car.org/newsstand/newsreleases/2011newsreleases/novpending/ 21005EC3-1287-4667-8A13-CF1352093724 Fri, 20 Jan 2012 08:46:58 -0800 Nationwide production of new single-family homes rose 4.4 percent to a seasonally adjusted annual rate of 470,000 units in December, according to newly released figures from the U.S. Commerce Department. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14734 300BD389-126E-408D-96EF-CD7F45F6AE0B Fri, 20 Jan 2012 08:45:11 -0800 The average Orange County foreclosure took just over 11 months from the filing of a default notice to the sale. http://lansner.ocregister.com/2012/01/19/foreclosures-take-almost-a-year/157358/ 1AA29180-126A-4EA4-AC69-E252CD8CB859 Fri, 20 Jan 2012 08:35:20 -0800 Of the 29,000 homes sold in Orange County in the past year, more than 7,840 sold for $300,000 or less, according to Redfin’s tally of sales from the broker-run multiple listing service. http://lansner.ocregister.com/2012/01/18/7840-o-c-homes-sell-for-under-300000-in-a-year/157261/ 4A4FE27F-BEAD-47B9-B796-BD87011A4AA0 Fri, 20 Jan 2012 08:40:11 -0800 To assist both REALTORS® and consumers, C.A.R. has launched shortsalescalifornia.org, a website specifically focused on short sales. http://www.car.org/newsstand/news/shortsalesca/ 05B2E75B-F747-4F22-933F-11F78C4FF4E5 Fri, 20 Jan 2012 08:33:33 -0800 New rules blocking lenders from hiring their own appraisers mean that appraisers are often hired by appraisal management companies, which generally absorb some of the fee that appraisers earn. http://realtormag.realtor.org/daily-news/2012/01/19/wanted-skilled-appraisers 87CB2195-7682-466D-B278-19E7CB0C5AFD Fri, 20 Jan 2012 08:50:03 -0800 Freddie Mac today released the results of its Primary Mortgage Market Survey®, showing average mortgage rates changing little amid mixed economic data. http://freddiemac.mediaroom.com/index.php?s=12329&item=110028 45175524-C11D-41C7-917B-7D7D3563321A Fri, 20 Jan 2012 08:52:12 -0800 The Census Bureau reports privately-owned housing starts in December were at a seasonally adjusted annual rate of 657,000. This is 4.1 percent below the revised November but is 24.9 percent above the December 2010. http://www.calculatedriskblog.com/2012/01/housing-starts-decline-in-december.html D38DFD58-4D7A-4B65-99AE-D0E14521B5BB Thu, 19 Jan 2012 07:05:40 -0800 The number of people seeking unemployment benefits plummeted last week to 352,000, the fewest since April 2008. The decline added to evidence that the job market is strengthening. http://finance.yahoo.com/news/Unemployment-claims-352-000-apf-431083078.html?x=0 B51BBDC1-E4C5-4C53-9D17-F3F32BA78F3D Thu, 19 Jan 2012 07:00:00 -0800 Administration officials and attorneys general are "very close" to a settlement with major banks of the so-called robo-signing issues after about a year of negotiations, HUD Secretary said at a conference of U.S. mayors meeting in Washington. http://www.calculatedriskblog.com/2012/01/hud-secretary-donovan-mortgage.html B8A0C12C-9C36-47C1-8891-E912E28BE325 Thu, 19 Jan 2012 06:58:28 -0800 Freddie Mac released today its U.S. Economic and Housing Market Outlook for January showing that while the economy is undoubtedly in a better place than the same time a year ago, a speedy recovery still seems unlikely this year. http://freddiemac.mediaroom.com/index.php?s=12329&item=109977 86BE94E2-9A52-42E4-9D9B-AC06A5E17AA6 Thu, 19 Jan 2012 06:54:27 -0800 An estimated 37,734 new and resale houses and condos were sold statewide last month. That was up 15.5 percent from 32,669 in November, and up 4.2 percent from 36,215 for December 2010. http://www.dqnews.com/Articles/2012/News/California/RRCA120118.aspx E466CFED-8B30-45D4-8CC8-308252375AC6 Thu, 19 Jan 2012 06:55:31 -0800 For decades, efforts to standardize the data used to describe for-sale homes have been delayed and derailed by differing local customs, preferences, technologies and terminology. http://www.inman.com/news/2012/01/17/data-dictionary-will-bring-common-vocabulary-sale-real-estate A0AE041B-3B23-4635-B59E-6CE91DE7FCF1 Thu, 19 Jan 2012 06:48:13 -0800 Builder confidence in the market for newly built, single-family homes continued to climb for a fourth consecutive month in January, rising four points to 25 on the NAHB/Wells Fargo Housing Market Index (HMI), released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14724 B24BD81A-1F5E-4100-808E-BDC215D0C183 Wed, 18 Jan 2012 07:49:51 -0800 The Refinance Index increased 26.4 percent from the previous week to its highest level since August 8, 2011. The seasonally adjusted Purchase Index increased 10.3 percent from one week earlier to its highest level since December 12, 2011. http://www.mortgagebankers.org/NewsandMedia/PressCenter/79310.htm 982BEAC4-54BE-46C1-9B7C-5B788C8E8F78 Wed, 18 Jan 2012 07:45:33 -0800 The BuildFax Residential Remodeling Index was at 137.9 in November, down from 147.6 in October, but up 33.5% from November 2010. http://www.calculatedriskblog.com/2012/01/residential-remodeling-index-declines.html 65E18ACE-98BF-46F7-8D3B-C8B982840A4B Wed, 18 Jan 2012 07:41:55 -0800 Southern California home sales surged last month from November - as they normally do - amid relatively strong activity under $300,000 and a record share of sales to "absentee" buyers, mainly investors. http://www.dqnews.com/Articles/2012/News/California/Southern-CA/RRSCA120117.aspx 302F7C47-9CE1-4452-A40B-CD5910AEEDF0 Wed, 18 Jan 2012 07:36:02 -0800 Even as experts brace for a surge in foreclosures this year, the portion of borrowers eligible for modification of their mortgages to help them keep their homes is shrinking, according to the federal agency that regulates national banks. http://www.pe.com/business/business-headlines/20120114-real-estate-fewer-loan-mods-granted.ece 457B8F76-7ADA-4834-8DCC-413A47AC9507 Wed, 18 Jan 2012 07:33:48 -0800 President Barack Obama's jobs council is calling for a corporate tax overhaul, expanded domestic drilling and new regulatory reforms, a set of proposals unlikely to provide a quick fix for high unemployment or gain much traction in an election year. http://www.cnbc.com/id/46023529 1262EFE2-9F7D-471D-9179-47E2C4C5DDAD Tue, 17 Jan 2012 07:54:33 -0800 Markets across the nation are showing signs of movement and improvement. "The fact that the list of improving housing markets nearly doubled this month shows that a significant, positive trend is developing." - Bob Nielsen, NAHB Chairman http://realtytimes.com/rtpages/20120116_realestateoutlook.htm 792C429B-6811-4F42-9B65-ACA881F47BDA Mon, 16 Jan 2012 07:45:15 -0800 DataQuick’s Orange County homebuying report for late December showed total Orange County sales of 2,585 residences closed - down 5.6% vs. a year ago. http://lansner.ocregister.com/2012/01/14/home-pricing-sales-dipped-as-2011-ended/157196/ 8B5A714F-05D2-43DD-8302-6CDFA493BFA2 Mon, 16 Jan 2012 07:40:27 -0800 Brandywine Homes’ Century Village in the city’s central hub will offer four floor plans ranging from 1,705 square feet to 2,247 square feet with three or four bedrooms; up to 3.5 bathrooms; and garages holdings two or three cars. http://lansner.ocregister.com/2012/01/13/garden-grove-gets-53-new-homes/157169/ A4AE6DBF-2C43-4595-88A8-FD11FA3723BD Mon, 16 Jan 2012 07:38:32 -0800 Banks may seize more than 1 million U.S. homes this year after legal scrutiny of their foreclosure practices slowed actions against delinquent property owners in 2011, RealtyTrac said. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/01/12/BUPF1MOFAU.DTL 8A776D8C-47AC-40DD-A2A2-1ADAF5ABD457 Mon, 16 Jan 2012 07:34:04 -0800 President Barack Obama will ask Congress on Friday for greater power to shrink the federal government, and his first idea is merging six sprawling trade and commerce agencies whose overlapping programs can be baffling to businesses, a senior administration official told The Associated Press. http://www.cnbc.com/id/45983894 1F88A169-8016-4362-B86C-881C8F3089FC Fri, 13 Jan 2012 08:13:11 -0800 Thomson Reuters/University of Michigan Surveys of Consumers' preliminary January consumer sentiment index rose to 74.0 from 69.9 in the final December report, according to a report released on Friday. http://www.cnbc.com/id/45985628 465522C6-287F-48D2-BA50-AC031C3D602F Fri, 13 Jan 2012 08:07:18 -0800 Expect the housing market to be in gradual recovery mode in 2012, according to a recent survey of 1,000 RE/MAX real estate agents. http://realtormag.realtor.org/daily-news/2012/01/12/agents-predict-when-rebound-will-take-shape 25326FDE-F2F4-44B5-BD2E-FAE12949763C Fri, 13 Jan 2012 08:05:22 -0800 A former housing market skeptic has become a housing market booster, telling a gathering of real estate insiders Thursday that now "is a great time to buy a home." http://lansner.ocregister.com/2012/01/13/ex-doomsayer-its-a-great-time-to-buy-a-home/157105/ 5A1A5BF4-2A16-4A25-A87C-2BB1C0E62ED0 Fri, 13 Jan 2012 08:01:36 -0800 Last year, foreign homebuyers reportedly bought about $41 billion worth of homes on U.S. soil. In fact, some experts have suggested that these buyers will help stabilize America’s housing market. http://insights.truliablog.com/ 1003BAF8-7538-49BB-9822-9FBCE4992782 Fri, 13 Jan 2012 07:56:20 -0800 Banks need to lend more. That is what regulators in Washington have been saying for months, even years now. http://www.cnbc.com/id/45974140 6E9B64B3-6E31-4CEE-85AC-342E031AA44E Fri, 13 Jan 2012 07:47:28 -0800 The new rules - which govern credit cards, overdraft fees and debit card transactions - generated a predictable outcry from industry members. They see regulators as trying to cut into their profitability at a time when banks traditional source of income, making loans, is proving difficult. http://www.cnbc.com/id/45971969 1545B900-E1D8-4F00-9814-77EB87919B80 Thu, 12 Jan 2012 09:38:58 -0800 "Three years after the crisis, we don't know what qualified mortgages are. We don't know the GSEs. We don't know what the skin in the game is. It's holding back the mortgage market. I wish this was done much quicker." - Jamie Dimon, CEO JPMorgan Chase http://www.cnbc.com/id/45971366 94CB885C-D3B9-47AA-8CFB-932D64FA35E4 Thu, 12 Jan 2012 09:34:08 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.89 percent with an average 0.7 point for the week ending January 12, 2012, down from last week when it averaged 3.91 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=107225 35A48D8B-0CA4-46D5-ADA3-787714CC35A7 Thu, 12 Jan 2012 08:53:48 -0800 The DOL reports in the week ending January 7, the advance figure for seasonally adjusted initial claims was 399,000, an increase of 24,000 from the previous week's revised figure of 375,000. http://www.calculatedriskblog.com/2012/01/weekly-initial-unemployment-claims_12.html 795A9254-C44C-48E3-A6AA-7A45405B3A34 Thu, 12 Jan 2012 08:40:41 -0800 Home affordability is at 1971 levels, due to falling home prices and record low mortgage rates, pushing home ownership in reach to more families, according to the U.S. Department of Housing and Urban Development (HUD). http://realtormag.realtor.org/daily-news/2012/01/11/home-affordability-offering-up-40-year-deals 2AF54937-E791-4F29-BE7B-FD774C5D52C4 Thu, 12 Jan 2012 08:39:24 -0800 Lennar Corp. reported it’s second profitable year in a row Wednesday. And, the company says, its orders for new homes are up 20 percent. http://lansner.ocregister.com/2012/01/11/homebuilders-profits-down-in-2011/156997/ 50D1472F-A06A-49F3-BB08-4EC57028072D Thu, 12 Jan 2012 08:35:02 -0800 RealtyTrac® reports a total of 2,698,967 foreclosure filings were reported on 1,887,777 U.S. properties in 2011, a decrease of 34 percent in total properties from 2010. http://www.realtytrac.com/content/foreclosure-market-report/2011-year-end-foreclosure-market-report-6984 AEC07663-92A8-4B57-806A-42D3BCB39753 Thu, 12 Jan 2012 08:31:24 -0800 The U.S. Federal Reserve should stick to its super-easy monetary policy to fight extraordinarily high unemployment and spur a "painstakingly slow" economic recovery, even if doing so pushes inflation temporarily higher, a top Fed official said on Wednesday. http://www.cnbc.com/id/45956871 0B73B779-8378-4835-86CD-7AE9E9075E7B Wed, 11 Jan 2012 08:31:14 -0800 Michael J. Williams said he is stepping down as chief executive of the quasi-governmental mortgage giant Fannie Mae. The company made the announcement late last night, saying Williams will wait to step down until the board of directors names a successor. http://www.npr.org/blogs/thetwo-way/2012/01/11/145029270/fannie-mae-ceo-will-step-down 1035613D-6EB1-4EF8-B294-35D4484014FA Wed, 11 Jan 2012 08:17:20 -0800 Mortgage applications increased 4.5 percent from one week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending January 6, 2012. http://www.mortgagebankers.org/NewsandMedia/PressCenter/79250.htm 22992C93-5A7D-4609-8A60-FF82CEF7D757 Wed, 11 Jan 2012 08:08:41 -0800 The California Department of Real Estate would be eliminated and its functions transferred to the state Consumer Affairs Department under Gov. Jerry Brown’s 2012-13 budget proposal unveiled Thursday, the Sacramento Bee has reported. http://lansner.ocregister.com/2012/01/10/brown-to-scrap-real-estate-licensing-agency/156941/ 93927EA9-49A7-434D-A2DD-1CCB74F8F754 Wed, 11 Jan 2012 08:05:58 -0800 According to CoreLogic’s latest late-mortgage report, 5.74% of Orange County home-loan borrowers as of October are 90 days-plus late with their house payments. It’s the lowest delinquency rate for local mortgages since March 2009! http://lansner.ocregister.com/2012/01/10/o-c-mortgage-delinquency-at-29-month-low/156935/ EB075FA0-3790-4520-A9B3-CCAADEAB5C73 Wed, 11 Jan 2012 08:07:08 -0800 The number of loan servicers taking part in a state mortgage-aid program continues to grow roughly one year after its launch, said officials from the California Housing Finance Agency. http://www.utsandiego.com/news/2012/jan/10/more-lenders-added-calif-mortgage-aid-program/ 5C1F7789-54F2-4B8B-A208-6299F53CA293 Wed, 11 Jan 2012 08:04:38 -0800 California house prices had the seventh-biggest price drop among U.S. states in November, falling 5.9% from year-ago levels, according to Santa Ana-based data firm CoreLogic. http://lansner.ocregister.com/2012/01/10/156906/156906/ E9DFBEF8-774F-486F-A3DC-A5D8867C8898 Wed, 11 Jan 2012 08:01:54 -0800 Consumer borrowing in the U.S. surged in November by the most in 10 years, showing households are optimistic enough to take on debt and banks are willing to lend. http://www.bloomberg.com/news/print/2012-01-09/u-s-consumer-credit-rose-by-most-in-decade-in-november-to-2-48-trillion.html 5D61000F-8685-4788-B6BE-8BEEFDB27324 Wed, 11 Jan 2012 08:00:12 -0800 Mortgage servicers are on track to modify far fewer loans in 2011 than the previous year, according to the most recent data provided by the Hope Now alliance formed by these firms and others in the industry. http://www.housingwire.com/2012/01/10/mortgage-modifications-in-2011-to-fall-short-of-previous-year 44DDE275-69BD-4C6F-B686-F78B733B4B34 Wed, 11 Jan 2012 07:58:52 -0800 The BLS reports the number of job openings in November was 3.2 million, unchanged from October. Although the number of job openings remained below the 4.4 million openings when the recession began in December 2007, the level in November was 1.0 million higher than in July 2009. http://www.calculatedriskblog.com/2012/01/bls-job-openings-unchanged-in-november.html 0029035C-3806-41D3-81CB-E42901385BDA Tue, 10 Jan 2012 07:59:27 -0800 For the fourth time since September, and for the second month in a row, small-business optimism has risen, according to the National Federation of Independent Business Optimism Index. http://www.cnbc.com/id/45934111 09CF111A-C068-40CC-A5A5-BB138B836CA2 Tue, 10 Jan 2012 07:57:37 -0800 New programs and "housing policy interventions" are needed to help the real estate market rebound and boost growth in the overall economy, three Federal Reserve policymakers said Friday. http://realtormag.realtor.org/daily-news/2012/01/09/fed-officials-call-for-more-housing-fixes C3BA0610-6B30-4195-9FF5-3FA7E6125E0D Tue, 10 Jan 2012 07:53:08 -0800 Lawmakers and regulators are crafting proposals that, if left unchecked, will harm home owners, home buyers, the housing market and the nation’s economy. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14452 F14FF2CA-FDC1-4E8A-8041-E80C67A311BC Tue, 10 Jan 2012 07:50:43 -0800 According to Steve Thomas of ReportsonHousing.com, 1,360 new escrows were opened to buy distressed Orange County properties in the past 30 days. That is 61% of the 2,220 new pending sales countywide or 3-to-2 preference! http://lansner.ocregister.com/2012/01/09/buyers-chose-distressed-homes-by-3-to-2/156854/ 7F4B43DC-52CB-430A-93F0-6B45775F2FE6 Tue, 10 Jan 2012 07:46:08 -0800 The Obama administration, in conjunction with federal regulators and led by the overseer of Fannie Mae and Freddie Mac, is very close to announcing a pilot program to sell government-owned foreclosures in bulk to investors as rentals, according to administration officials. http://www.cnbc.com/id/45925851 ABF0CC73-B403-4CC5-9BFB-BBD7C43BAC5B Mon, 9 Jan 2012 08:09:15 -0800 The U.S. economy is well on the road to recovery, but would be doing better if not for a repressive environment in Washington, Jack Welch, author and former General Electric chairman, told CNBC Monday. http://www.cnbc.com/id/45924852 18C583D6-5F12-4AEA-BC3B-00CC88E3CD2D Mon, 9 Jan 2012 08:08:12 -0800 CoreLogic released its November Home Price Index report which shows that home prices in the U.S. decreased 1.4 percent on a month-over-month basis, the fourth consecutive monthly decline. http://www.calculatedriskblog.com/2012/01/corelogic-house-price-index-declined-14.html CC213F0D-C378-4117-85F1-1F4ECC4F4125 Mon, 9 Jan 2012 08:02:51 -0800 Construction employment increased by 17 thousand jobs in December, and is now down 2.18 million jobs from the peak in April 2006. http://www.calculatedriskblog.com/2012/01/residential-construction-employment.html DD2F89FC-5735-45DB-8055-E03395A35D68 Mon, 9 Jan 2012 07:56:29 -0800 Freddie Mac today announced it is giving mortgage servicers expanded authority to provide six months of forbearance to unemployed borrowers without Freddie Mac's prior approval and up to an additional six months with prior approval. http://freddiemac.mediaroom.com/index.php?s=12329&item=106028 19847C6F-517E-42E6-B00C-AFEB33B49ACC Mon, 9 Jan 2012 07:54:13 -0800 Freddie Mac announced it has eliminated its minimum credit score requirement for borrowers wanting to refinance, but they must have at least 20 percent equity in their home, HousingWire reports. http://realtormag.realtor.org/daily-news/2012/01/06/freddie-loosens-credit-score-requirement-for-refis A0E5D7B2-A1E2-45FA-989C-0B1A05EED955 Mon, 9 Jan 2012 07:52:57 -0800 e number of housing markets showing measurable improvement nearly doubled in January with the addition of 40 new metros to the National Association of Home Builders/First American Improving Markets Index, released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14478 BAFE1457-6D17-48FA-93F2-77F540911B28 Mon, 9 Jan 2012 07:50:45 -0800 It’s tougher for just about all mortgage borrowers to get a loan for a home purchase or refinance these days, but many self-employed business owners are really feeling the pinch. http://www.marketwatch.com/story/how-to-get-a-mortgage-if-youre-self-employed-2012-01-09 27AB04AD-68C1-4E9A-A946-3F85FFFB442F Mon, 9 Jan 2012 07:48:26 -0800 Beginning with the 2012 tax bill, the state Franchise Tax Board will require property owners to break down their property taxes into deductible and non-deductible portions. http://economy.ocregister.com/2012/01/09/state-targets-property-tax-payers/101799/ F214B8D1-424B-4BC5-8662-9EF93084EA2C Mon, 9 Jan 2012 07:45:47 -0800 According to DataQuick, the median selling price for a home in Orange County was $404,750 - down 5.5% compared to this time last year. Total O.C. sales were 2,579 - down 5.4% compared to this time last year. http://lansner.ocregister.com/2012/01/08/homebuying-dipped-5-as-11-ended/156846/ 7597F6EE-4E14-4FFB-B184-210A4817879D Mon, 9 Jan 2012 07:41:41 -0800 Faced with the choice of selling their homes in today’s foreclosure ridden market or leasing them, many homeowners who want or need to move are becoming reluctant landlords. http://www.pe.com/business/business-headlines/20120107-real-estate-rather-than-sell-homeowners-become-reluctant-landlords.ece AAFCCC5B-0ED9-4DF2-8142-7742C9E2C4EB Mon, 9 Jan 2012 07:38:25 -0800 Nonfarm payroll employment rose by 200,000 in December, and the unemployment rate, at 8.5 percent, continued to trend down, the U.S. Bureau of Labor Statistics reported today. http://www.calculatedriskblog.com/2012/01/december-employment-report-200000-jobs.html 88C260F4-F6F2-46DC-AF05-19A2E6AE138D Fri, 6 Jan 2012 08:13:24 -0800 "Slow but steady job growth will continue, and as it does there will be a realization that a housing shortage is looming, due to the dearth of new home building over the last five years." - Dan Young, Irvine Co. President http://lansner.ocregister.com/2012/01/06/irvine-co-eyes-looming-housing-shortgage/156787/ 4E377732-57C0-44F0-9780-D7F9FBFF59CE Fri, 6 Jan 2012 08:06:53 -0800 Federal Reserve Chairman Ben Bernanke believes that one aspect should be a government support program that allows renters to move into those houses. http://www.housingwire.com/2012/01/04/bernanke-calls-for-nationwide-reo-rental-program 53A5213A-E6D3-41AD-9E4F-CA9AD66A8DE6 Fri, 6 Jan 2012 08:03:37 -0800 The office vacancy rate fell in the fourth quarter of 2011 and rents rose for the fifth straight period, signaling that a recovery is well under way, real estate research firm Reis Inc said on Friday. http://www.reuters.com/article/2012/01/06/us-office-rents-idUSTRE80508G20120106 E9D25795-AC66-4A2B-BD67-AAC51776051B Fri, 6 Jan 2012 08:01:26 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.91 percent with an average 0.8 point for the week ending January 5, 2012, down from last week when it averaged 3.95 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=102616 F4C651EB-01F4-4995-9581-DF3508FDB6FE Thu, 5 Jan 2012 08:42:24 -0800 The DOL reports in the week ending December 31, the advance figure for seasonally adjusted initial claims was 372,000, a decrease of 15,000 from the previous week's revised figure of 387,000. http://www.calculatedriskblog.com/2012/01/weekly-initial-unemployment-claims.html 6D4F0ECB-008F-4023-A311-1B5739B5C6E5 Thu, 5 Jan 2012 08:40:14 -0800 Private-sector employment increased by 325,000 from November to December on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. http://www.adpemploymentreport.com/pdf/FINAL_Release_December_11.pdf F4DF5BB9-2C14-4A13-A9B7-46641A811506 Thu, 5 Jan 2012 08:36:46 -0800 The nation's apartment-vacancy rate in the fourth quarter fell to its lowest level since late 2001. http://www.calculatedriskblog.com/2012/01/reis-apartment-vacancy-rate-falls-to-52.html 54C5555E-93B4-4ECE-B4B3-7B2531B6C37A Thu, 5 Jan 2012 08:31:23 -0800 Natural disasters from tornados, hail, winds, and floods caused widespread damage throughout the country in 2011, and more home owners may soon see their homeowner's insurance premiums rise because of it. http://realtormag.realtor.org/daily-news/2012/01/04/cost-homeowners-insurance-may-soon-be-rise 4FFC8783-5AB4-455A-83B6-B4067716DFDE Thu, 5 Jan 2012 08:27:35 -0800 More households are moving to East Coast states while leaving Rust Belt states -- the area in the U.S. between the Midwest and the Northeast -- where unemployment remains high, according to the latest Atlas Lines Migration Patterns study. http://realtormag.realtor.org/daily-news/2012/01/04/more-americans-are-move-survey-says A174A70A-3DA0-45AA-9560-B1DBD261D237 Thu, 5 Jan 2012 08:25:04 -0800 Allied Van Lines’ 44th annual "Magnet States Report" says that at least by its own business patterns California is back as on the "inbound list." http://lansner.ocregister.com/2012/01/04/van-line-calif-jumps-to-no-7-u-s-destination/156643/ 87A23B69-6D78-4956-B713-59FB94CB535D Thu, 5 Jan 2012 08:20:48 -0800 The new Lemongrass community in Fountain Valley features homes with up to five bedrooms. Two single-story models were sold. Two-and-three-story models are still available. http://lansner.ocregister.com/2012/01/04/16-new-homes-for-sale-in-fountain-valley/156582/ 4860B5CD-2059-47AB-BF10-C9001154175B Thu, 5 Jan 2012 08:18:22 -0800 The Mortgage Bankers Association reports the seasonally adjusted Purchase Index decreased 9.7 percent compared with levels reported two weeks ago. http://www.mortgagebankers.org/NewsandMedia/PressCenter/79126.htm E8C3C055-620E-4C93-8C24-76A07D13B34A Wed, 4 Jan 2012 07:26:28 -0800 nk of America Corp. lost a ruling in a court fight against MBIA Inc. that will help the bond insurer as it tries to recover losses on home loans made by the bank’s Countrywide Financial unit. http://www.bloomberg.com/news/2012-01-03/mbia-wins-judgment-ruling-against-countrywide.html ACA82D3E-0166-4F27-8200-4AB307815CE9 Wed, 4 Jan 2012 07:22:21 -0800 A first-of-the-year forecast on commercial real estate conditions across the country cites the strength of Inland Southern California for investors looking to sink money into industrial properties. http://www.pe.com/business/business-insider-headlines/20120103-real-estate-inland-area-considered-strong-investment-opportunity.ece E1783061-4974-4193-AAAD-C876D322586C Wed, 4 Jan 2012 07:20:19 -0800 Pent-up demand exists, no question, but it has nowhere to go right now for the vast majority of organic home buyers. http://www.cnbc.com/id/45858675 48B1AA88-5AAE-4B44-96A7-4065885AE44B Tue, 3 Jan 2012 10:12:11 -0800 American consumers are running out of tricks. As the weak economy has trudged on, they have leaned on credit cards to pay for holiday gifts, many bought at discounts. They are dipping into savings to cover spikes in gas, food and rent. http://www.cnbc.com/id/45854379 FAD0A0A1-24DF-431A-BF3A-DAD387462E8A Tue, 3 Jan 2012 10:02:38 -0800 The U.S. Census Bureau of the Department of Commerce announced today that construction spending during November 2011 was estimated at a seasonally adjusted annual rate of $807.1 billion, 1.2 percent above the revised October estimate of $797.4 billion. http://www.calculatedriskblog.com/2012/01/construction-spending-increased-in.html 5807F610-BEEF-489E-BCDE-22160F53CA75 Tue, 3 Jan 2012 09:55:08 -0800 The "government, the mortgage industry, and forces of nature all shook the housing market in 2011," according to a recent Time magazine article, which highlights the key issues that had the greatest impact on the real estate market this year--and what’s expected to have a major impact in the new year as well. http://realtormag.realtor.org/daily-news/2011/12/30/what-had-biggest-impact-housing-in-2011 851A648F-F191-485B-BF3A-939156C4A31D Tue, 3 Jan 2012 07:20:35 -0800 Still, while commercial real estate markets have been relatively flat this year, improving fundamentals mean a more positive trend is expected in 2012. http://www.realtor.org/research/reinsights/infocus 275F0C42-FF3F-47D7-83E0-ADE84827FA1D Tue, 3 Jan 2012 07:19:34 -0800 Fannie Mae reported that the Single-Family Serious Delinquency rate was unchanged at 4.00% in November. Freddie Mac reported that the Single-Family serious delinquency rate increased to 3.57% in November, up from 3.54% in October. http://www.calculatedriskblog.com/2011/12/fannie-mae-and-freddie-mac-serious.html CBDF3F22-6ABF-49A2-87C8-73C8097AF7F5 Fri, 30 Dec 2011 08:04:22 -0800 For the 22 business days ending Dec. 8, DataQuick reports that South Inland Orange County home prices fell by 10% compared to a year ago, the biggest drop in the county. http://lansner.ocregister.com/2011/12/29/south-county-homes-see-biggest-price-drops/156233/ 27A86F0B-1DC4-411E-B681-2D8E63E243D8 Fri, 30 Dec 2011 07:48:30 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.95 percent with an average 0.7 point for the week ending December 29, 2011, up from last week when it averaged 3.91 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=98391 34CD5A7D-9EFF-4AD6-9CE3-70928C31E0E3 Thu, 29 Dec 2011 08:16:03 -0800 NAR's Pending Home Sales Index increased 7.3 percent to 100.1 in November from a revised 93.3 in October. It is 5.9 percent above November 2010 when it stood at 94.5. http://www.realtor.org/press_room/news_releases/2011/12/phs_nov EA332032-0600-4A2B-A5E4-88D6AA5650F3 Thu, 29 Dec 2011 08:06:27 -0800 The DOL reports in the week ending December 24, the advance figure for seasonally adjusted initial claims was 381,000, an increase of 15,000 from the previous week's revised figure of 366,000. http://www.calculatedriskblog.com/2011/12/weekly-initial-unemployment-claims_29.html FAC2A365-FAE0-4662-A153-7CD6A1EDD06D Thu, 29 Dec 2011 08:03:04 -0800 On a percentage basis, Orange County construction jobs shrank by 3.38% in a month and receded by 1.64% in a year. http://lansner.ocregister.com/2011/12/28/o-c-loses-6000-construction-jobs-in-4-months/156443/ DC1DEE0E-E1C2-4AC0-A186-F1FD5FF57EF6 Thu, 29 Dec 2011 07:59:21 -0800 In just the past two weeks alone, the inventory has shed an additional 528 homes, now totaling 8,377, a 6% drop. http://lansner.ocregister.com/2011/12/28/o-c-sellers-flee-home-market-inventory-at-22-month-low/156439/ 7B14F699-9AAE-4B7C-8517-CAC852558FAB Thu, 29 Dec 2011 07:57:37 -0800 Despite the record low rates, applications for mortgages to buy homes dropped as the year ended, even after seasonal adjustments, the latest Mortgage Bankers Assn. survey found. http://latimesblogs.latimes.com/money_co/real_estate/ 5DDF4BCD-623C-4AB6-B5CF-AFC6B96D8374 Thu, 29 Dec 2011 07:52:20 -0800 Sales ticked up for existing homes and new homes, several real estate market indicators revealed last week, pointing to a housing market that may finally be entering recovery mode. http://realtormag.realtor.org/daily-news/2011/12/27/some-good-signs-for-real-estate-market F1178651-B500-471D-88D6-47B24307740B Wed, 28 Dec 2011 07:54:41 -0800 Newly released Census data show that the population expanded only 0.7 percent during the 12 months ending on July 1, the lowest pace since the 1940s. http://realtormag.realtor.org/daily-news/2011/12/27/us-population-growth-slows-wwii-levels 44B1EC2D-9A32-48B5-9E11-8DDEF3559E24 Wed, 28 Dec 2011 07:51:53 -0800 FHA regulations prohibit insuring a mortgage on a home owned by the seller for less than 90 days, but this rule is waived through December 31, 2012 http://www.mortgagenewsdaily.com/channels/pipelinepress/12272011-fha-waiver-mi-tax-deductible.aspx 677D523B-5D50-4F4F-AA48-0350FCD9AC06 Wed, 28 Dec 2011 07:49:32 -0800 This year is shaping up as the sixth slowest for homebuilders since the end of World War II, figures from the Construction Industry Research Board show. http://lansner.ocregister.com/2011/12/27/2011-to-be-homebuildings-6th-worst-year/156363/ 8BFA9C60-E371-4915-8DF5-D63C97BF04DA Wed, 28 Dec 2011 07:44:45 -0800 While data on the number of loans either seriously delinquent or in the foreclosure process suggested that an increase in the number of residential properties lost to foreclosure this year was a "slam dunk," incoming data suggest that in fact the numbers will be down significantly from 2010, and will in fact probably come in at the lowest level since 2007! http://www.calculatedriskblog.com/2011/12/lawler-completed-foreclosure-sales-in.html 0EA5F2D8-818C-4AF7-9D88-A84D8C5FA6D1 Wed, 28 Dec 2011 07:40:54 -0800 The New York-based Conference Board says Tuesday that its Consumer Confidence Index rose almost 10 points to 64.5, up from a revised 55.2 in November. Analysts had expected 59. http://www.cnbc.com/id/45795931 76585B1B-0F30-4785-B6FC-30D15FB89B06 Tue, 27 Dec 2011 07:30:52 -0800 U.S. single-family home prices fell more than expected in October, data showed Tuesday, raising doubts that recent signs of improvement in the housing market would be sustained. http://www.cnbc.com/id/45795202 FAD7DF51-30A6-4D02-887C-C1546B5D469A Tue, 27 Dec 2011 07:29:35 -0800 With U.S. unemployment at a lofty 8.6 percent, home foreclosures rising and property prices under pressure, more and more Americans have given up the dream of owning, opting instead to rent, a shift that is remaking the face of the U.S. housing industry. http://www.cnbc.com/id/45794427 0BAC9036-96EA-47B5-BA0A-9822085ED725 Tue, 27 Dec 2011 07:28:26 -0800 U.S. inflation is slowing after a surge early in the year. This is good news for Americans, as it means the money in their pockets goes further. It also is welcome at the Federal Reserve, which has been counting on an inflation slowdown. http://online.wsj.com/article/SB10001424052970203686204577116521286547832.html 1959268A-373B-4576-9453-F833F907B1C6 Tue, 27 Dec 2011 07:22:32 -0800 The Justice Department faces the daunting task of tracking down more than 210,000 alleged victims and determining how to compensate them, following last week's $335 million fair-lending settlement with Bank of America Corp.'s Countrywide unit. http://online.wsj.com/article/SB10001424052970203686204577116860378024808.html?mod=WSJ_RealEstate_LeftTopNews 3C0E431D-767C-4A2D-B1DB-6EFFE8120B5F Tue, 27 Dec 2011 07:20:50 -0800 A development in Lake Forest claims to have solved the riddle that’s eluded U.S. tract home builders until now: Mass production of the "net zero" home - or home that produces as much energy as it consumes. http://lansner.ocregister.com/2011/12/26/your-electric-bill-could-be-0/156245/ ED3519C1-AD81-4989-801D-F1296D1D804E Tue, 27 Dec 2011 07:16:29 -0800 The first week of the last month of the Old Year promises more of the same from the past several months: Sagging home prices and sluggish sales, DataQuick’s weekly housing report shows. http://lansner.ocregister.com/2011/12/26/o-c-home-price-down-7-5-in-early-december-figures/156217/ 2AD2E27B-5CBE-4733-A29C-15C5F000855D Mon, 26 Dec 2011 09:36:15 -0800 Because of the time it often takes for property assessments to reflect falling home values, the bust that began in 2007 has just begun to ravage tax revenues in communities from coast to coast. The problem is unlikely to subside soon. http://www.washingtonpost.com/business/economy/falling-home-values-mean-budget-crunches-for-cities/2011/12/14/gIQAwWmtHP_story.html D44D32A8-B0CD-4516-8F5E-1F6915EF8075 Mon, 26 Dec 2011 09:31:59 -0800 The U.S. Congress Friday completed work on a two-month extension of a payroll tax cut for 160 million American workers who otherwise would have expired on Dec. 31. http://www.cnbc.com/id/45776290 785D878C-4A7F-49DF-80CB-C1D603E5ED61 Fri, 23 Dec 2011 08:18:26 -0800 The Census Bureau reports New Home Sales in November were at a seasonally adjusted annual rate of 315 thousand. This was up from a revised 310 thousand in October. http://www.calculatedriskblog.com/2011/12/new-home-sales-increase-in-november-to.html 85801957-0386-4D00-84C3-0DD1E1F2CDD0 Fri, 23 Dec 2011 08:16:11 -0800 Personal income increased $8.5 billion, or 0.1 percent in November, according to the Bureau of Economic Analysis. http://www.calculatedriskblog.com/2011/12/personal-income-increased-01-in.html AADDA85B-DF5E-453B-9E41-E3E21F477ABD Fri, 23 Dec 2011 08:12:39 -0800 Despite many programs to help underwater homeowners, the financial crisis continues and foreclosures loom throughout the country. http://realtytimes.com/rtpages/20111223_principal.htm E3D8F88E-4B55-4B59-9D47-6FD8E3DDA9D5 Fri, 23 Dec 2011 08:04:10 -0800 Median list prices nationwide have risen 4.05 percent on a year-over-year basis, according to November housing data of 146 metro areas from Realtor.com. Fewer cities are reporting year-over-year list price declines, "suggesting a growing optimism on the part of sellers about 2012 market conditions," according to Realtor.com. http://realtormag.realtor.org/daily-news/2011/12/22/10-cities-where-list-prices-soared-last-month A688A796-E271-4EAF-B688-FE32B3252AD4 Fri, 23 Dec 2011 08:02:58 -0800 Freddie Mac reports 30-year fixed averaged 3.91 percent for the week, a new all-time low, dropping below last week's 3.94 percent, the previous record low. http://freddiemac.mediaroom.com/index.php?s=12329&item=97947 6BEFD795-4F08-48B2-BD4D-DFD1E2A1E1B0 Thu, 22 Dec 2011 08:54:08 -0800 By the time this year ends, homes in Riverside and San Bernardino counties will have lost $14 billion in value, almost triple the $5 billion lost in 2010, according to a report by Zillow Real Estate Research. http://www.pe.com/business/business-headlines/20111221-real-estate-drop-in-home-values-far-exceeds-2010.ece D12D8C5B-D8B5-4429-90C8-4E86223FE4FE Thu, 22 Dec 2011 08:50:48 -0800 The California Association of Realtors is taking steps to warn consumers that during the holiday season they are at particular risk from scammers who offer phony mortgage modification schemes. It is distributing a public service announcement to television and radio stations statewide. http://www.pe.com/business/business-insider-headlines/20111219-real-estate-realtors-warn-of-holiday-mortgage-scams.ece F86E009B-38A1-474B-8081-65F2DEF1C47A Thu, 22 Dec 2011 08:49:53 -0800 A tax break for about 160 million U.S. workers is set to expire at the end of this year and House Republicans and Senate Democrats are battling over how to extend it. http://www.cnbc.com/id/45765160 C36D713A-CDDD-4228-ABF4-CCAB906FE31A Thu, 22 Dec 2011 08:43:55 -0800 The DOL reports in the week ending December 17, the advance figure for seasonally adjusted initial claims was 364,000, a decrease of 4,000 from the previous week's revised figure of 368,000. http://www.calculatedriskblog.com/2011/12/weekly-initial-unemployment-claims_22.html 712DFC11-4A40-4F74-8D47-D12298030F8C Thu, 22 Dec 2011 08:34:42 -0800 Consumer sentiment improved in December to its highest level in six months as Americans felt better about the economy's prospects for the year ahead, a survey released on Thursday showed. http://www.cnbc.com/id/45764173 1FE841DA-4CAD-4BA1-AD8E-66CCB049CA8F Thu, 22 Dec 2011 08:42:39 -0800 Newly initiated home foreclosures by the large national banks increased 21.1% in the three months ending Sept. 30 as mortgage servicers lifted voluntary holds on such activity because of paperwork problems, the Office of the Comptroller of the Currency reported Wednesday. http://latimesblogs.latimes.com/money_co/2011/12/home-foreclosures-jumped-in-third-quarter-federal-report-says.html 5B326F43-8BDA-4EC8-A942-65D5436852FF Thu, 22 Dec 2011 08:39:40 -0800 Existing-home sales rose again in November and remain above a year ago, according to the National Association of Realtors®. Also released today were periodic benchmark revisions with downward adjustments to sales and inventory data since 2007, led by a decline in for-sale-by-owners. http://www.realtor.org/press_room/news_releases/2011/12/ehs_nov 67E86638-54E4-4E15-8763-81B4553C5A8A Wed, 21 Dec 2011 07:32:45 -0800 CoreLogic® Reports Shadow Inventory as of October 2011 Still at January 2009 Levels. http://www.calculatedriskblog.com/2011/12/corelogic-existing-home-shadow.html B514C636-A74F-4CAA-8087-35B16DEE912C Wed, 21 Dec 2011 07:28:33 -0800 The Mortgage Bankers Association reports their Refinance Index decreased 1.6 percent from the previous week. The seasonally adjusted Purchase Index decreased 4.9 percent from one week earlier. http://www.mortgagenewsdaily.com/12212011_applications_survey.asp 4B24FC0C-1907-4F1E-9082-8D55648A8993 Wed, 21 Dec 2011 07:24:18 -0800 Seal Beach leaders say the project, which includes a 12-story mid-rise building, will clog the congested roads even more while threatening wildlife at a nearby marine habitat. http://lansner.ocregister.com/2011/12/20/o-c-residents-protesting-long-beach-development/155979/ DF2D8748-735A-4766-B4DC-05AC693A9E85 Wed, 21 Dec 2011 07:22:19 -0800 California Atty. Gen. Kamala D. Harris has filed suit against mortgage titans Fannie Mae and Freddie Mac for refusing to answer subpoenas issued to the companies this year. http://latimesblogs.latimes.com/money_co/2011/12/californias-sues-mortgage-titans-fannie-mae-and-freddie-mac.html CE2F6EC9-FB08-4B9E-BED3-11F225D720C9 Wed, 21 Dec 2011 07:20:27 -0800 The House Tuesday rejected a plan backed by President Barack Obama that would have extended a 2-percent payroll tax cut for two months and bought time for talks on a full-year renewal. http://finance.yahoo.com/news/House-GOP-rejects-2-month-apf-2117955744.html?x=0 64D2E995-6023-45A9-B5B6-FBFD0029B2E8 Tue, 20 Dec 2011 10:52:43 -0800 Fannie Mae reports fourth-quarter economic activity indicates that 2011 will end on a positive note. Nevertheless, the U.S. economy continues to face many obstacles, with momentum expected to slow going into 2012. http://www.fanniemae.com/portal/about-us/media/financial-news/2011/5592.html 41A8884F-67C4-4574-8BD5-D2C28507214E Tue, 20 Dec 2011 10:48:17 -0800 The California Association of Realtors reported that sales of existing single-family homes increased statewide for a fifth consecutive month in November from the year before. http://lansner.ocregister.com/2011/12/20/calif-house-sales-up-prices-down/155929/ C05D5907-315F-49CB-B421-4059023CCD83 Tue, 20 Dec 2011 10:44:16 -0800 Except for Nevada and California. Nevada continued to record the highest unemployment rate among the states, 13.0 percent in November. California posted the next highest rate, 11.3 percent. http://www.bls.gov/news.release/laus.nr0.htm 00B6BDA6-B8D0-49D0-86D8-A4B5F35B1507 Tue, 20 Dec 2011 10:35:40 -0800 U.S. housing starts surged to a 1-1/2 year high in November and permits for future construction were the highest since March 2010 as demand for rental apartments rose, offering hope for the weak housing market. http://www.calculatedriskblog.com/2011/12/housing-starts-increase-in-november.html EFE54DCA-BD38-44C5-AE3F-1CAC1D2BDEFF Tue, 20 Dec 2011 07:49:19 -0800 House Republicans will defeat a short-term extension of the payroll tax cut approved by the Senate and push for a full-year extension that would prevent a tax hike on some 160 million Americans, House Speaker John Boehner said Monday. http://www.cnbc.com/id/45723370 9248CD23-4A98-4501-B59E-F5C9B835BDFA Mon, 19 Dec 2011 08:28:51 -0800 Builder confidence in the market for newly built, single-family homes edged up two points from a downwardly revised number to 21 on the National Association of Home Builders/Wells Fargo Housing Market Index for December. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14384 370C4F16-B107-47CE-B361-9500489B2B45 Mon, 19 Dec 2011 08:22:47 -0800 The number of distressed properties across the nation has resulted in a range of effects. Most notably, though, has been the effect on non-distressed homes in neighboring areas and communities. http://realtytimes.com/rtpages/20111219_realestateoutlook.htm 0EA9384A-C738-4927-B108-85C597B03EE4 Mon, 19 Dec 2011 08:21:06 -0800 Coming up with a down payment is often a first-time home buyer’s biggest challenge - that’s why many of them get help from relatives or friends. Here’s what home buyers should know about down-payment gifts. http://www.marketwatch.com/story/dont-let-down-payment-gifts-hold-up-your-mortgage-2011-12-19 ED58F416-4CB9-4673-8197-D5CBA55B6D4D Mon, 19 Dec 2011 08:13:39 -0800 California's dark days of budget deficits and severe spending cuts may be nearing an end. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/12/18/MNDB1MD1IH.DTL 64BF2BCA-A5CC-4FB7-8207-18A9C8BE5333 Mon, 19 Dec 2011 08:05:23 -0800 Riverside County's unemployment rate fell to 12.8 percent in November, down from a revised 13.7 percent in October and sharply lower than the year-ago estimate of 14.8 percent. http://www.nctimes.com/business/economy-job-picture-improves-in-november-as-economy-begins-to/article_8f5e728c-163b-502e-8ae4-31c076c6d0d3.html A591D98F-2062-4277-A7C5-6408A5DFBF2A Mon, 19 Dec 2011 08:00:36 -0800 President Barack Obama, rebuffed by Congress on a yearlong extension of a Social Security payroll tax cut, said Saturday that it would be "inexcusable'" for lawmakers not to lengthen the short-term deal when they return from their holiday break. http://finance.yahoo.com/news/Obama-wants-payroll-tax-apf-3241831594.html?x=0 9135BB40-FDF7-4198-9880-F9D80E994080 Sat, 17 Dec 2011 21:27:19 -0800 Who is paying for the two-month extension of the payroll tax cut working its way through Congress? The cost is being dropped in the laps of most people who buy homes or refinance beginning next year. http://www.cnbc.com/id/45708514 6A5A0F41-2315-4B01-8535-1BD6BF3F23CA Sat, 17 Dec 2011 21:24:40 -0800 The U.S. Senate voted on Saturday to extend a payroll tax cut for two months in legislation that also attempts to force President Barack Obama to approve construction of an oil pipeline. http://www.cnbc.com/id/45707425 605D3750-9F59-4CC7-8149-49F4242AFC5F Sat, 17 Dec 2011 08:47:58 -0800 Freddie Mac announced today that the company reached an agreement with the Securities Exchange Commission related to its investigation into the company's exposure to subprime and Alt-A mortgages. http://freddiemac.mediaroom.com/index.php?s=12329&item=97269 14D80985-2E74-47E7-8687-BEAC346EBD21 Sat, 17 Dec 2011 08:43:58 -0800 A new count on homelessness found that 2.1% fewer people were homeless this January than the year before, the U.S. Department of Housing and Urban Development announced this week. http://www.marketwatch.com/story/fewer-people-homeless-according-to-recent-data-2011-12-16 927294B6-FC8A-4B87-B3C8-2EC8922DE795 Sat, 17 Dec 2011 08:38:34 -0800 ommercial real estate investor and developer Robert M. "Bob" Campbell, co-founder CT Realty Corp. of Aliso Viejo, died Thursday at age 71. http://lansner.ocregister.com/2011/12/16/o-c-developer-campbell-dies-at-71/155726/ 3648BC4A-62A3-4BE6-B42E-554BC1608A2A Sat, 17 Dec 2011 08:36:44 -0800 The industry can use any bits of good news, so it’s a tad uplifting that a few national reports show a late autumn price stabilization in home prices. http://lansner.ocregister.com/2011/12/16/u-s-home-prices-stabilizing/155516/ BD6D788A-5D87-436D-85D8-357467C51C31 Sat, 17 Dec 2011 08:34:33 -0800 Four people involved in an Oceanside loan modification business that ripped off homeowners across the country for $11 million pleaded guilty Friday in federal court to a variety of charges, including conspiracy to commit wire fraud, money laundering and tax evasion. http://www.signonsandiego.com/news/2011/dec/16/men-sentenced-for-11-million-in-mortgage-fraud/ 9410B4F4-55B3-456D-818D-D356B6EE40C8 Sat, 17 Dec 2011 08:31:45 -0800 Nevada has filed suit against a major player in the foreclosure business, Lender Processing Services, claiming the company is responsible for perpetrating widespread consumer fraud in the Silver State. http://latimesblogs.latimes.com/money_co/real_estate/ 0E1F9218-B3B9-4821-9571-6860F5BE2ACA Sat, 17 Dec 2011 08:28:41 -0800 The Securities and Exchange Commission charged six former executives of Fannie Mae and Freddie Mac with securities fraud on Friday for misrepresenting their holdings of high-risk mortgage loans. http://money.cnn.com/2011/12/16/news/companies/fannie_freddie_sec/index.htm?iid=HP_LN 085D7CD9-32F0-41D2-8F06-BA56840AC493 Sat, 17 Dec 2011 08:24:38 -0800 An estimated 32,669 new and resale houses and condos were sold statewide last month. That was down 4.2 percent from 34,087 in October, and up 4.0 percent from 31,403 for November 2010. http://www.dqnews.com/Articles/2011/News/California/RRCA111214.aspx 8EF549A1-12CB-4586-955F-2FE787021BBC Sat, 17 Dec 2011 08:23:20 -0800 The Consumer Price Index for All Urban Consumers was unchanged in November on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.4 percent before seasonal adjustment. http://www.calculatedriskblog.com/2011/12/bls-cpi-unchanged-in-november.html 856730BF-49F8-4284-B297-04049A02B795 Fri, 16 Dec 2011 07:35:20 -0800 California consumer confidence tumbled in November to its lowest level in two years, reports Chapman University. http://economy.ocregister.com/2011/12/15/california-consumers-grow-glum/100766/ 5E065440-FF81-4AE9-BB0A-30FEDEDBAFF2 Fri, 16 Dec 2011 06:52:39 -0800 Their poll numbers sinking, their constituents badly bruised by economic hardship and with millions of American workers about to get a sudden and unexpected tax increase, what are members of Congress discussing? http://www.cnbc.com/id/45681778 92644D43-BDFD-4EC4-A378-6F35CBCF5302 Thu, 15 Dec 2011 07:38:04 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.94 percent with an average 0.8 point for the week ending December 15, 2011, down from last week when it averaged 3.99 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=96704 D2EFC547-4F92-46D5-9E1F-FB45B2DBCA46 Thu, 15 Dec 2011 07:35:42 -0800 The DOL reports in the week ending December 10, the advance figure for seasonally adjusted initial claims was 366,000, a decrease of 19,000 from the previous week's revised figure of 385,000. http://www.calculatedriskblog.com/2011/12/weekly-initial-unemployment-claims_15.html 8BE9E415-A53D-4FB6-AC29-0775D9A43C0E Thu, 15 Dec 2011 07:31:51 -0800 Despite a seasonal slowdown in overall foreclosure activity, and a process still bogged down and backed up by the "robo-signing" processing scandal, the U.S real estate market is about to be hit by another surge of bank repossessions, according to a new report from the online foreclosure sale site RealtyTrac. http://www.cnbc.com/id/45682960 C8E0456F-B000-4A49-A877-BDABE4A11C67 Thu, 15 Dec 2011 07:25:11 -0800 Bank seizures of U.S. homes fell to their lowest level in nearly three years in November and fewer first-time default notices were sent to homeowners, a report by RealtyTrac said on Thursday. http://www.cnbc.com/id/45680619 E03B7D9E-7CC1-488C-8329-5BCFF075B20A Thu, 15 Dec 2011 07:23:22 -0800 The Federal Reserve reports the Household Debt Service Ratio is back to 1994 levels, however mortgage financial obligations remain elevated. http://www.calculatedriskblog.com/2011/12/fed-household-debt-service-ratio-back.html 60BA5635-CD1C-41CE-8188-FA02948F87C4 Thu, 15 Dec 2011 07:19:32 -0800 Mortgage fraud activity slowed overall in the third quarter, but California ranks first in home loan fraud, with the state seeing as much as $204.2 million in losses on deceptive mortgage activity. http://www.housingwire.com/2011/12/14/california-ranks-no-1-for-mortgage-fraud 7AA64A96-863F-4D2A-AE95-A68718D30D57 Thu, 15 Dec 2011 07:13:41 -0800 Household formation has slowed dramatically since the recession, as cash-strapped families double up and unemployed recent college graduates are unable to leave behind their parents’ couches. http://www.calculatedriskblog.com/2011/12/excess-vacant-housing-supply.html 1CF4CBF1-5965-463F-BACA-7576E5E0902A Thu, 15 Dec 2011 07:10:55 -0800 The Senate has wrapped itself into a partisan tangle over its year-end tax and spending business. http://finance.yahoo.com/news/Leaders-block-quick-Senate-apf-1879323013.html?x=0 9F50E644-3775-40A6-A2CC-1937DC153A18 Wed, 14 Dec 2011 07:27:58 -0800 Today’s market presents a difficult mix of conditions for many sellers. The housing market dipped in recent years in response to recession conditions and continues to struggle. http://realtytimes.com/rtpages/20111214_sell.htm EF83AA8C-7E70-4730-91A5-4FEB37853B39 Wed, 14 Dec 2011 07:19:54 -0800 House flippers - made up of investors who bought up homes during the housing boom, possibly made a few upgrades to the home, and quickly resold the homes for high-dollar profit - played a larger role in causing the housing bubble than previously thought, according to a new federal report out by the Federal Reserve Bank of New York. http://realtormag.realtor.org/daily-news/2011/12/13/house-flippers-blame-for-housing-downturn B59A7C09-EBA1-417B-A98B-2F3DEFB6D94A Wed, 14 Dec 2011 07:16:32 -0800 The MBA reports their Refinance Index increased 9.3 percent from the previous week to its highest level since November 4, 2011. The seasonally adjusted Purchase Index decreased 8.2 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/79021.htm D99C9415-7F8C-4AD1-8F75-2C214986494B Wed, 14 Dec 2011 07:08:58 -0800 Although the number of sales were up in 79% of O.C. Zip Codes, 62 of O.C.’s 83 ZIP codes with declines in their respective median selling price. http://lansner.ocregister.com/2011/12/13/home-prices-dip-in-62-zips-yours/155419/ AEDB536D-73FC-4D90-AE00-E1117A1D0C46 Wed, 14 Dec 2011 07:03:58 -0800 The number of homes sold in Southern California rose modestly last month from both October and a year earlier as investors and first-time buyers targeted homes priced below $400,000. Sales above $500,000 fell nearly 16 percent from a year earlier amid a troubled market for larger home loans, a real estate information service reported. http://www.dqnews.com/Articles/2011/News/California/Southern-CA/RRSCA111213.aspx 7DEC7928-AF7F-4F8B-8163-A8003024E5E2 Wed, 14 Dec 2011 07:00:14 -0800 The Republican-controlled House has passed legislation sought by President Barack Obama to extend Social Security payroll tax cuts through 2012. But the bill also includes a requirement for construction of an oil pipeline that has drawn a veto threat. http://finance.yahoo.com/news/Republicans-muscle-tax-cut-apf-1007352223.html?x=0 FDD47155-910D-4AF8-8FB0-55DD97B52FAD Tue, 13 Dec 2011 16:22:21 -0800 Former House Speaker Newt Gingrich has surged to a wide lead over Mitt Romney for the 2012 Republican nomination, but either leading candidates would face a daunting path in the general election against President Obama, according to a new NBC News/Wall Street Journal poll. http://www.cnbc.com/id/45660982 23FD8B2C-76CC-4A02-8750-BEE20EBC2C1D Tue, 13 Dec 2011 16:19:30 -0800 "All the sales and inventory data that have been reported since January 2007 are being downwardly revised. Sales were weaker than people thought," NAR spokesman Walter Malony told Reuters. http://www.cnbc.com/id/45659547 A90C84CC-23B3-4AE4-883D-BBCD4FB8D5D4 Tue, 13 Dec 2011 15:18:37 -0800 Dodd-Frank and other costly regulations are punishing businesses, keeping them from expanding and creating more jobs, hedge fund investor Ken Langone told CNBC Tuesday. http://www.cnbc.com/id/45655766 3C302419-FA55-4508-81CC-AD4D7B171F33 Tue, 13 Dec 2011 13:11:58 -0800 Republicans claimed enough support to muscle legislation through the House that would continue a payroll tax cut for 160 million workers, a vote that will shift the battleground to a far less receptive Senate. http://finance.yahoo.com/news/Republicans-plan-House-OK-apf-1007352223.html?x=0 D97B4F86-FD7C-4715-9B86-96B840A143C4 Tue, 13 Dec 2011 08:06:39 -0800 "Congress is essentially proposing to raise taxes on millions of potential home buyers in order to pay for a payroll tax cut and other non-housing legislative initiatives. With the housing market struggling to regain its footing, such a short-sighted move would be extremely counterproductive and threaten the fragile economic recovery." - Bob Nielsen, NAHB Chairman http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14351 3CAE3817-B0E6-4094-808F-BD3A565E67FD Tue, 13 Dec 2011 08:03:27 -0800 The BLS reports the number of job openings in October was 3.3 million, essentially unchanged from 3.4 million in September. http://www.calculatedriskblog.com/2011/12/bls-job-openings-essentially-unchanged.html 0D5EDB3A-4FB4-47C6-A69A-C9030E0B5974 Tue, 13 Dec 2011 08:01:02 -0800 The Big Orange Property Owner index was 126 for the third quarter - that's down 1.4% vs. the previous three months and up 8.31% vs. a year earlier. http://www.ocregister.com/articles/index-331229-property-big.html A1812352-21B5-4C11-99A5-C4BBBD2AFA36 Tue, 13 Dec 2011 07:58:01 -0800 The Obama administration's initial foreclosure-prevention programs, launched in early 2009, were intended to help 7 million to 9 million people. So far, they've aided about 2 million, and not all of those are out of foreclosure danger. http://www.usatoday.com/money/economy/housing/story/2011-12-11/foreclosure-aid-program-what-went-wrong/51815400/1 0FD64E2C-1365-4E40-91CD-BDAD4ED502A2 Tue, 13 Dec 2011 07:54:19 -0800 It does look like GDP growth will be slightly above trend in Q4, but this is still weak growth considering all the slack in the economy. http://www.calculatedriskblog.com/2011/12/little-better-gdp-growth-in-q4.html 7AB9805B-9A6D-4D09-876A-2535EE4977E7 Tue, 13 Dec 2011 07:51:34 -0800 In an interview with 60 minutes, President Obama said unemployment needs to get down to 8% in order for him to be reelected. Many forecasters think the unemployment rate will increase next year because of sluggish growth. http://www.calculatedriskblog.com/2011/12/jobs-needed-to-reach-8-unemployment.html 73E92845-EE44-4B40-ADFB-BC07EAA2575C Tue, 13 Dec 2011 07:46:24 -0800 "Recently, the overwhelming media coverage of the current financial crisis has made homeowners aware -- or at least alerted them to become aware -- of their equity position in their home," said Michael Seiler who headed the study for MBA. http://www.siouxcityjournal.com/advertorial/siouxland_homes/more-homeowners-opt-for-strategic-default/article_66283a8c-323a-5d3b-ac6c-8fa4029268b1.html B5C12549-62FC-40FA-AC5D-726278D863B2 Mon, 12 Dec 2011 12:30:09 -0800 The number of homes for sale has dropped to its lowest level in nearly two years as the holiday homebuying lull takes hold, according to figures from Steve Thomas of ReportsOnHousing.com. http://lansner.ocregister.com/2011/12/12/inventory/155378/ EA41F71B-F809-4376-9E1F-9DB36781CC65 Mon, 12 Dec 2011 11:14:32 -0800 National U.S. home sales figures will be lowered dating back to 2007 after the private trade group that collects the figures says the numbers were too high. http://finance.yahoo.com/news/Home-sales-figures-2007-10-apf-2752244342.html?x=0 6EA744C0-0A4F-4E31-B603-D3AAEE62C911 Mon, 12 Dec 2011 11:11:07 -0800 Congress may raise the fees paid to Fannie Mae and Freddie Mac in order to cover the payroll-tax cut. http://www.cnbc.com/id/45642408 F5D7C437-0B50-4B9D-98F2-6FB19B5E1618 Mon, 12 Dec 2011 11:06:37 -0800 Senate Republican Leader Mitch McConnell said on Sunday that Congress will somehow reach an agreement to renew a popular payroll tax cut set to expire at the end of this month. http://www.cnbc.com/id/45637005 10B3F23B-58ED-4FF6-BD33-2959ACAE5BC9 Mon, 12 Dec 2011 08:06:15 -0800 Anti-Wall Street protesters along the West Coast joined an effort Monday to blockade some of the nation's busiest docks, with the idea that if they cut off the ports, they cut into corporate profits. http://finance.yahoo.com/news/Occupy-protesters-seek-shut-apf-593045836.html?x=0 B249358A-B715-44B4-9B04-92660314C8F9 Mon, 12 Dec 2011 08:05:12 -0800 The unemployment rate is on the decline, at least it was for the month of November, according to the Bureau of Labor Statistics. It is now at 8.6 percent, as employment rose by 120,000. http://realtytimes.com/rtpages/20111212_realestateoutlook.htm CAEDE72C-C705-498D-A019-C8F85E8B8E7E Mon, 12 Dec 2011 08:02:30 -0800 U.S. online sales in the holiday season to date are up 15 percent to $24.6 billion, according to comScore. http://finance.yahoo.com/news/US-online-holiday-sales-15-apf-4230545933.html?x=0 F51D1F05-E04E-48AD-A879-8BFA46F025C9 Sun, 11 Dec 2011 23:03:39 -0800 Setting a new bar for the nation's economy, President Barack Obama said the United States unemployment rate could fall to 8 percent before he faces re-election next November. http://finance.yahoo.com/news/Obama-says-jobless-rate-drop-apf-2024467673.html?x=0 ABCBF038-D368-4EEA-89F4-CF2CFBB7ACCD Sun, 11 Dec 2011 23:01:15 -0800 A recent survey by Houselogic.com, the consumer website from the National Association of Realtors®, finds that jobs and the housing market will be two of the most important issues for voters in the 2012 election. http://www.realtor.org/press_room/news_releases/2011/12/houselogic_survey 15D64A8C-1332-4B74-A642-411566744D1E Sun, 11 Dec 2011 22:58:20 -0800 647 homes sold in Orange County’s north-inland ZIP codes in this most recent period, up 6% from a year ago - best gain among our four regional slices. http://lansner.ocregister.com/2011/12/11/north-o-c-has-fastest-homebuying-growth/155368/ DD24CAA2-8EFE-434D-9A83-701CBC9B4B56 Sun, 11 Dec 2011 22:55:20 -0800 U.S. mortgage debt, a driver of consumer spending during the real estate boom, dropped to the lowest level in almost five years in the third quarter as foreclosures wiped out home loans and housing purchases fell. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/12/09/BU7U1MA2OB.DTL EE9C5AFB-6BD3-4180-899E-9A2BF077A6B8 Sun, 11 Dec 2011 22:50:54 -0800 After half a decade of withering sales and slumping prices, there are strong and diverse signs that the single-family housing market is poised for a rebound. http://www.cnbc.com/id/45599691 8A58B801-9D0E-4438-82DA-402C41D06D90 Fri, 9 Dec 2011 13:41:39 -0800 The preliminary December Reuters / University of Michigan consumer sentiment index increased to 67.7, up from the November reading of 64.1. http://www.calculatedriskblog.com/2011/12/consumer-sentiment-increases-in.html 2A4F1BA8-BC9F-4A50-8017-93BE534360FA Fri, 9 Dec 2011 07:22:06 -0800 According to the latest Realtors® Confidence Index survey, distressed real estate sales fell to 28 percent of the total market in October, down from 30 percent in September. http://economistsoutlook.blogs.realtor.org/2011/12/02/distressed-real-estate-down-to-28-percent-of-the-market/ 38856544-466C-431D-B508-42595BC43947 Fri, 9 Dec 2011 07:14:20 -0800 If you want to best view the local economic rebound through the real estate prism, try the rental slice, not ownership trends, to see curious progress. http://www.ocregister.com/articles/graham-330644-local-apartment.html 9EA4E233-989C-4A4E-A28A-64F3093C844F Fri, 9 Dec 2011 07:11:32 -0800 The most interesting trend in the recent data release is the California fertility numbers. The state’s births in 2011 were just 511,000. These are the lowest numbers of births in California since 1987, when they were 493,000. http://lansner.ocregister.com/2011/12/08/analyst-calif-birth-rate-a-24-year-low/155242/ B28A162B-40F5-4152-971F-A3795A6F673E Fri, 9 Dec 2011 07:08:15 -0800 The average down payment on a home in California is 13.22 percent, well below the 20 percent being proposed by U.S. regulators, show Thursday's findings from online mortgage company Lending Tree. http://www.signonsandiego.com/news/2011/dec/08/state-highest-home-down-payments/ A53D2378-4590-4116-8F08-5B0D5F6B3F83 Fri, 9 Dec 2011 07:04:31 -0800 The 50-48 vote fell 10 votes short of the 60 needed. A rival GOP proposal was also doomed to lose. The vote marks the latest round in the partisan battle over a keystone of President Barack Obama's jobs plan. http://finance.yahoo.com/news/Senate-rejects-Democratic-apf-3093357142.html?x=0 F98A2AAD-C0EB-4745-9345-FB742EAD04A2 Thu, 8 Dec 2011 12:11:02 -0800 One out of three builders are reporting losing signed sales contracts during the preceding six months because appraisals on their homes are less than the contract sales price, according to a recent nationwide survey conducted by the National Association of Home Builders. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14186 DB00D9A0-C5EE-4700-9FE7-043AEF33DB0C Thu, 8 Dec 2011 12:06:50 -0800 In a letter to the Federal Housing Finance Agency, the trade group said no one has made a compelling case for why the current model needs to be tweaked. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78989.htm 7D165626-E586-4586-BF41-BAE99A4D0482 Thu, 8 Dec 2011 11:59:13 -0800 The U.S. Treasury said Wednesday that it will continue to withhold incentives from JPMorgan Chase and Bank of America for modifications, short sales, and deeds-in-lieu completed through government programs. http://www.dsnews.com/articles/index/treasury-continues-to-withhold-foreclosure-prevention-incentives-from-two-2011-12-07 2F6DF5ED-65EC-4DB8-B695-DF852AD61D55 Thu, 8 Dec 2011 11:57:57 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.99 percent with an average 0.7 point for the week ending December 8, 2011, down from last week when it averaged 4.00 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=95994 AE82DC0D-B4AB-4D99-AA8A-CC85A24F0D03 Thu, 8 Dec 2011 07:05:48 -0800 The DOL reports in the week ending December 3, the advance figure for seasonally adjusted initial claims was 381,000, a decrease of 23,000 from the previous week's revised figure of 404,000. http://www.calculatedriskblog.com/2011/12/weekly-initial-unemployment-claims_08.html C326AA29-9AAC-44A9-897F-451499EE281B Thu, 8 Dec 2011 07:02:52 -0800 Reforming the secondary mortgage market is essential to ensuring a reliable source of mortgage lending for consumers in all types of markets and is integral to the nation’s economic and housing recovery, the National Association of Realtors® said in testimony today. http://www.realtor.org/press_room/news_releases/2011/12/mortgage_finance_reform 4C29FD8E-BFA5-49CF-863C-38B65D11E065 Thu, 8 Dec 2011 07:01:29 -0800 Two Orange County men were arrested on charges of theft and conspiracy in what state prosecutors called a $6 million mortgage modification scam that victimized thousands of financially troubled homeowners across the nation. http://lansner.ocregister.com/2011/12/07/2-o-c-men-charged-in-6-million-loan-mod-scam/155193/ 90EB636B-6E06-4956-9B8A-B0E70B9B63A3 Thu, 8 Dec 2011 06:54:36 -0800 A Spanish language website to help Spanish speaking people search for homes to buy in California was launched this month by the California Association of Realtors. http://www.pe.com/business/business-insider-headlines/20111205-real-estate-spanish-language-website-launched-for-home-shopping.ece 847CCFF3-8B2C-48AD-BD85-AF815FEDCCD8 Thu, 8 Dec 2011 06:52:35 -0800 "Our forecast calls for the median selling price of a single-family unit ... (to) remain flat in Orange County in 2012." - Chapman University http://lansner.ocregister.com/2011/12/07/chapman-no-home-price-gain-for-2012/155111/ 4AC7EAB7-3600-4778-A7E9-4F9BD0EDE3C7 Wed, 7 Dec 2011 07:26:23 -0800 The seasonally adjusted Purchase Index increased 8.3 percent from one week earlier to its highest level since August 5, 2011. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78974.htm 4F73A81D-17FA-4A73-9514-73F7598651D4 Wed, 7 Dec 2011 06:57:45 -0800 The survey of 800 Americans across the country shows that the average American plans to spend $751 on gifts this year, up 22 percent from last year’s spending plans. The number would represent a healthy 4.6 percent gain over actual holiday spending in 2010 as measured by the National Retail Federation. http://www.cnbc.com/id/45552218 E718F51C-AC57-4DC0-8C2A-BD3F31C8F3A5 Wed, 7 Dec 2011 06:56:38 -0800 Credit reporting agency TransUnion forecasts that if the U.S. economy does not suffer more setbacks, the rate of mortgage holders behind on their payments should decline significantly by the end of next year. http://finance.yahoo.com/news/2012-Mortgage-delinquencies-apf-916050151.html?x=0 03618568-8FBD-4128-A611-95A3B3B1F102 Tue, 6 Dec 2011 23:07:46 -0800 The commercial banks on which home builders and developers largely rely to finance their projects continued in this year’s third quarter to hold tight reins on acquisition, development and construction loans (AD&C), according to the most recent quarterly survey by NAHB’s Economics and Housing Policy Group on the availability of credit to the housing industry. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14145 D11C940B-B687-4F34-9C0C-4354C75935C7 Tue, 6 Dec 2011 23:05:31 -0800 During the third quarter, delinquency rates declined for commercial and multifamily mortgages held by banks and in commercial mortgage backed securities. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78959.htm 48184432-F0BE-4DC9-8033-C68B7E1232C1 Tue, 6 Dec 2011 23:03:42 -0800 Three more notaries have been charged in the massive foreclosure fraud case that already has ensnared two Orange County title officers. http://lansner.ocregister.com/2011/12/06/3-more-charged-in-nevada-mortgage-fraud-case/155084/ 42A34F46-4FE7-44E1-A363-8D95E4198647 Tue, 6 Dec 2011 23:00:47 -0800 Orange County real estate owners will get two extra days to pay their first installments of their 2011-2012 secured property taxes! http://lansner.ocregister.com/2011/12/06/property-tax-deadline-extended-two-days/155100/ F37CFBFA-0648-4BE9-B3B1-AC7D6298AEAC Tue, 6 Dec 2011 22:59:36 -0800 Occupy Wall Street and other housing activists are heading to neighborhoods hit hard by foreclosure Tuesday to protest the mistreatment of homeowners by mortgage lenders. http://money.cnn.com/2011/12/05/real_estate/occupy_wall_street/index.htm?iid=HP_River 5AB9A31D-490C-4109-B82C-380F558C3CB3 Tue, 6 Dec 2011 22:57:15 -0800 The two states, which are at ground zero of the nation's housing bust, will join forces to probe allegations of foreclosure fraud and other wrongdoing in the mortgage markets, including the packaging and selling of mortgage-backed securities by Wall Street players and scams by smaller players offering to help troubled borrowers. http://www.latimes.com/business/realestate/la-fi-mortgage-probe-20111207,0,7895467.story 25BA5399-CD27-43AE-911C-9DE52F46F59C Tue, 6 Dec 2011 22:54:14 -0800 CoreLogic today released its October Home Price Index which shows that home prices in the U.S. decreased 1.3 percent on a month-over-month basis, the third consecutive monthly decline. http://www.calculatedriskblog.com/2011/12/corelogic-house-price-index-declined-13.html 22FCF10B-014C-40C9-AD9D-17BB34FA9594 Tue, 6 Dec 2011 22:52:18 -0800 Neil Dutta, US economist at Bank of America Merrill Lynch, said there are six other key points that also undermine any optimism gleaned from a superficial drop in the jobless rate. http://www.cnbc.com/id/45569450 89591528-1C12-4730-A7B5-9C8D1AC56C5B Tue, 6 Dec 2011 22:49:59 -0800 The problem is that while sales are improving slightly, and consumer sentiment may be settling a bit, the mess left to clean up from the past is still weighing heavily on the future. http://www.cnbc.com/id/45572245 5323DA1A-4CAE-4139-960C-1537B8E3CEB7 Tue, 6 Dec 2011 22:48:16 -0800 Toll Brothers Inc.'s fiscal fourth-quarter net income slid 70 percent, partly because last year's quarter was helped by a large tax benefit. http://finance.yahoo.com/news/Toll-Brothers-4Q-profit-falls-apf-1289994745.html?x=0 B9F66B47-7499-43CC-ADF2-8658FDF5B813 Tue, 6 Dec 2011 07:29:41 -0800 "I still think we won't see much improvement in 2012. In fact, I've said over and over and over that, in my opinion, 2012 will not be an easy financial year." - Suse Orman http://www.cnbc.com/id/45400672 B25B871C-FFED-4942-90BE-9DE56F37E92B Tue, 6 Dec 2011 07:27:12 -0800 Bank of America agreed to pay $315 million to settle claims by investors who said they were misled about mortgage securities offerings by its Merrill Lynch unit. http://www.cnbc.com/id/45567012 EACB2E18-48FC-4583-8226-E6B21547AA93 Tue, 6 Dec 2011 07:17:17 -0800 Using the deptofnumbers.com for monthly inventory, it appears inventory will be below the December 2005 levels this month. http://www.calculatedriskblog.com/2011/12/existing-home-inventory-declines-175.html 07D4A6DB-A5BD-4EF6-90D0-8D5828096020 Tue, 6 Dec 2011 07:12:58 -0800 Lender Processing Services, Inc., a leading provider of mortgage and real estate technology, data and analytics, today announced that its LPS Applied Analytics division updated its home price index with residential sales concluded during September 2011. http://www.lpsvcs.com/LPSCorporateInformation/NewsRoom/Pages/20111205.aspx 0FD5890E-9DCB-4915-ADDB-72B8BEA748B1 Tue, 6 Dec 2011 07:09:38 -0800 The number of improving housing markets continued to expand for a fourth consecutive month in December, rising from 30 to 41 on the latest National Association of Home Builders/First American Improving Markets Index (IMI), released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14068 47FCA69B-E12C-46F5-AA8E-0AB35F9EC73A Tue, 6 Dec 2011 07:04:47 -0800 Even Vitela, 36, acknowledged that buying a house you’ve never seen before might seem crazy. http://lansner.ocregister.com/2011/12/05/woman-buys-o-c-house-sight-unseen/155051/ 26266E52-A24D-4588-9D15-9D3DA7560908 Tue, 6 Dec 2011 07:00:15 -0800 Winter is an exceptionally slow season for home sales. But December and January have proven to be great months to own the stocks of home builders in recent years. http://www.pe.com/business/business-insider-headlines/20111205-real-estate-winter-bad-for-home-sales-good-for-builder-stocks.ece B85FC649-2777-4FB4-9C0C-891309D63AF9 Tue, 6 Dec 2011 06:56:34 -0800 "There’s a lot maneuvering on Capitol Hill," the reporter said. "If the mortgage interest deduction is in jeopardy, what’s Plan B"? http://www.spokesman.com/stories/2011/dec/04/theres-no-plan-b-if-mortgage-interest-deduction/ 4BCAF32F-B7D8-46C9-9E24-0CE7E8514FC3 Tue, 6 Dec 2011 06:52:50 -0800 U.S. Senate Democrats plan to offer a new proposal on Monday to extend a popular payroll tax cut amid signals that Republican leaders would accept a compromise that covers the cost to the federal Treasury. http://www.cnbc.com/id/45549974 BF9FFD73-C1C6-441E-A97A-B0173C9DE2C3 Mon, 5 Dec 2011 08:15:52 -0800 Unprecedented cuts by the cash-strapped U.S. Postal Service will slow first-class delivery next spring and, for the first time in 40 years, eliminate the chance for stamped letters to arrive the next day. http://finance.yahoo.com/news/Cuts-first-class-mail-slow-apf-1336233549.html?x=0 5E29EFBB-0CF8-4ED4-8CEF-4667612EB86F Mon, 5 Dec 2011 08:13:50 -0800 Home-insurance policies are pretty much the same, and carriers compete on the basis of price and service-right? Believe those two myths and you might wind up paying dearly. http://online.wsj.com/article/SB10001424052970204397704577070173118701582.html?mod=WSJ_RealEstate_LeftTopNews 4C85A497-D6B7-48B3-B5F3-6A324D75F69B Mon, 5 Dec 2011 08:10:33 -0800 People across the working spectrum suffered job losses in recent years: bricklayers and bookkeepers as well as workers in manufacturing and marketing. But only a select few workers have fully regained their footing during the slow recovery. http://www.cnbc.com/id/45523450 4411C6D7-3786-4DBF-BB14-61295E20CEF7 Fri, 2 Dec 2011 07:57:14 -0800 The U.S. economy created 120,000 jobs in November and the unemployment rate fell to 8.6%, its lowest level in more than two and a half years, the Labor Department said Friday. http://www.marketwatch.com/story/us-jobless-rate-falls-to-86120000-jobs-added-2011-12-02?link=MW_pulse 96174B22-9BD6-4B37-B9C6-ECA96F4DE329 Fri, 2 Dec 2011 07:47:15 -0800 Freddie Mac today announced it has ordered all evictions involving foreclosed occupied single family and 2-4 unit properties that had Freddie Mac mortgages to be suspended from December 19, 2011 to January 2, 2012. http://freddiemac.mediaroom.com/index.php?s=12329&item=93580 39C778D9-8CFD-4EE4-AD02-3CC8591ECD61 Fri, 2 Dec 2011 07:44:54 -0800 Two words that seem taboo in this down turned economy and horrific housing crisis are "Principal Reduction". http://realtytimes.com/rtpages/20111202_principalreduction.htm 43330408-7026-4BF8-9BFB-63D483717760 Fri, 2 Dec 2011 07:43:36 -0800 The Obama administration’s top housing official is finding himself in hot water on Capitol Hill amid mounting concerns that the Federal Housing Administration is on the verge of a taxpayer bailout. http://blogs.wsj.com/developments/2011/12/01/congress-worries-fha-could-be-fannie-freddie-the-sequel/?mod=WSJBlog&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+wsj%2Fdevelopments%2Ffeed+%28WSJ.com%3A+Developments+Blog%29 8B04454A-D88C-42B6-B08F-D2D629302103 Fri, 2 Dec 2011 07:40:26 -0800 The report from the Center for Responsible Lending, "Lost Ground, 2011," finds that at least 2.7 million mortgages loaned from 2004 through 2008, or about 6 percent, have ended in foreclosure and that nearly 4 million more home loans (roughly 8 percent) from the same period remain at serious risk. http://bucks.blogs.nytimes.com/2011/11/30/foreclosure-crisis-isnt-even-halfway-over-analysis-finds/?ref=business 89853B1A-0707-4001-924F-3223B30CBC0D Fri, 2 Dec 2011 07:36:45 -0800 Wells Fargo & Co on Thursday sued the United States claiming the San Francisco-based banking group was owed $350.4 million in tax overpayments going back more than a decade. http://www.reuters.com/article/2011/12/02/usa-tax-wellsfargo-idUSN1E7B01QL20111202?feedType=RSS&feedName=rbssFinancialServicesAndRealEstateNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FfinancialServicesRealEstateNews+%28News+%2F+US+%2F+Financial+Services+and+Real+Estate%29 016CD4DD-9333-405E-B72C-BE9983B1699D Fri, 2 Dec 2011 07:35:14 -0800 Overbuilding during the boom and falling employment during the bust have left Orange County with glut of about 10 million square feet of office space - equal to about 386 average-sized buildings. http://lansner.ocregister.com/2011/12/01/does-o-c-have-400-office-buildings-too-many/154913/ BE14E96A-0244-40B7-9BCF-AA52F5240B89 Fri, 2 Dec 2011 07:30:37 -0800 It will be "little" things like California large and mid-sized companies plugging along in the global economy that will play an important part in shoring up our economy and, thereby housing. http://lansner.ocregister.com/2011/12/01/analyst-housing-savior-california-exports/154955/ F7B92A54-7867-4A81-B64A-BEF4498F00BD Fri, 2 Dec 2011 07:28:42 -0800 California ranked sixth in the nation in negative equity, widely known as being "underwater" on your mortgage, based on the latest data from real estate tracker CoreLogic this week. http://www.signonsandiego.com/news/2011/dec/02/numbers-underwater-homes-calif/ 975DD3C2-114C-4BBA-AA09-4FAF01B1A200 Fri, 2 Dec 2011 07:24:15 -0800 Facing another budget deficit and the prospect of deep cuts to education, Gov. Jerry Brown plans to file a ballot initiative as early as Friday that asks voters to increase taxes on the wealthy and raise the sales tax by half a cent. http://finance.yahoo.com/news/Brown-administration-submit-apf-2981450299.html?x=0 3BDA90E8-9E0C-4071-9277-59743747EB47 Thu, 1 Dec 2011 13:37:56 -0800 Massachusetts sued five major banks Thursday over deceptive foreclosure practices such as the "robo-signing" of documents, potentially undermining negotiations between lenders and state prosecutors across the nation over the same issue. http://finance.yahoo.com/news/Massachusetts-sues-banks-apf-3340779243.html?x=0 E582D1B7-6841-4658-9410-D43CC3E9D77D Thu, 1 Dec 2011 13:35:36 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 4.00 percent with an average 0.7 point for the week ending December 1, 2011, up from last week when it averaged 3.98 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=93591 8A2883E4-8178-42E2-9B60-11FA7DBE6BF9 Thu, 1 Dec 2011 07:27:53 -0800 U.S. builders spent more in October on new homes, offices and shopping centers, pushing construction spending up for a third straight month. Despite the gains, construction spending remained depressed. http://www.cnbc.com/id/45508352 6DE13032-B28C-49A4-8D9B-F537DF99F588 Thu, 1 Dec 2011 07:27:15 -0800 The DOL reports in the week ending November 26, the advance figure for seasonally adjusted initial claims was 402,000, an increase of 6,000 from the previous week's revised figure of 396,000. http://www.calculatedriskblog.com/2011/12/weekly-initial-unemployment-claims.html A05CBC42-6751-49CB-889C-DA2ECBB2293E Thu, 1 Dec 2011 07:25:09 -0800 Foreclosures are setting new records again, this time not in their overall numbers, but in the time it is taking for all of these properties to be processed through the legal system. The average loan in foreclosure has now been delinquent a record 631 days, according to a new report from Florida-based Lender Processing Services. http://www.cnbc.com/id/45507581 1C68F20A-C082-40E3-81BC-0B38B492AF7E Thu, 1 Dec 2011 07:23:06 -0800 More than one in three Americans think it's okay to walk away from their mortgage, either to trigger lender assistance or because they don't think it's worth it to hold onto a home with a value that is less than the mortgage balance. http://realtytimes.com/rtpages/20111201_defaulters.htm 1818428C-C262-4787-B9F5-009AB0C64108 Thu, 1 Dec 2011 07:20:53 -0800 Fannie Mae reported that the Single-Family Serious Delinquency rate was unchanged at 4.00% in October. This is down from 4.52% in October of 2010. http://www.calculatedriskblog.com/2011/11/fannie-mae-and-freddie-mac-serious.html 7D1F71FC-35D2-4CF4-9EC2-264EDB90618D Thu, 1 Dec 2011 07:12:21 -0800 The number of Orange County homes that are worth less than the amount owed on them increased over the summer to the highest level this year, according to new figures from Santa Ana data giant CoreLogic. http://lansner.ocregister.com/2011/12/01/1-in-6-o-c-mortgages-still-under-water/154553/ 9D347FA3-855F-43DE-9AEB-94BF5E521876 Thu, 1 Dec 2011 07:11:13 -0800 The latest batch of non-payment cases all hail from Arizona, where at least 19 formal complaints have been filed to the state's appraisal board against the company, which lenders used as a third party to assign, manage and deliver finished appraisals. http://www.signonsandiego.com/news/2011/nov/30/san-diego-appraisal-company-under-review-ariz/ F955BD24-FBDB-4CA6-80BE-A70288793F0D Thu, 1 Dec 2011 06:58:26 -0800 A free seminar on real estate issues through the non-profit real estate organization HELP will be Friday from 8:30 a.m. to 4:30 p.m. at the offices of PRMG, 1265 Corona Pointe Circle in Corona. http://www.pe.com/business/real-estate-headlines/20111130-real-estate-seminar-friday-in-corona.ece B3ACE6DC-FAD7-48BD-8F7E-968D66DFBF2F Thu, 1 Dec 2011 06:55:03 -0800 Organizers said Tuesday that they plan to help families across America fight foreclosure and eviction next week by "occupying" those properties. http://latimesblogs.latimes.com/money_co/real_estate/ 94EA9210-C074-418A-B7E0-629E29CAD33A Thu, 1 Dec 2011 06:53:04 -0800 ZipRealty Inc. has agreed to pay $586,000 to settle claims by the California Labor Commissioner that the company failed to pay minimum and overtime wages to four of its agents in Kern County. http://www.inman.com/news/2011/11/30/ziprealty-settles-labor-suit-586000 EE591331-2544-44D5-947B-258FAB516C02 Thu, 1 Dec 2011 06:49:53 -0800 Consumers likely are more comfortable comparison-shopping for microwaves than mortgages because the home-loan process can be cumbersome, with reams of paperwork, unfamiliar jargon, and of course, the rush to close and move to a new place. http://www.signonsandiego.com/news/2011/nov/30/you-better-shop-around/ 636D8977-10A4-4B28-A856-06E5E1F3CF17 Thu, 1 Dec 2011 06:48:40 -0800 This should be a great time to buy a first home. Prices have sunk to 2002 levels. Sellers are waiting anxiously as homes languish on the market. Mortgage rates are their lowest ever. http://www.mercurynews.com/real-estate/ci_19440876 0B1F06F0-82FA-489A-BA63-62A96875C2A4 Thu, 1 Dec 2011 06:46:56 -0800 Pending home sales rose strongly in October and remain above year-ago levels, according to the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2011/11/phs_oct 65346488-7C57-413E-89C5-97226B9AAE14 Wed, 30 Nov 2011 07:12:07 -0800 ADP today reported that employment in the U.S. nonfarm private business sector increased by 206,000 from October to November on a seasonally adjusted basis. http://www.reuters.com/article/2011/11/30/us-usa-economy-idUSTRE7AL14I20111130?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28News+%2F+US+%2F+Business+News%29 0B61E223-A53C-4E38-B1A0-33A280A05D9B Wed, 30 Nov 2011 07:05:37 -0800 The Mortgage Bankers Association reports the Refinance Index decreased 15.3 percent from the previous week. The seasonally adjusted Purchase Index decreased 0.8 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78728.htm 4B18DE6C-CE29-4B0E-A32E-418EDD3EC195 Wed, 30 Nov 2011 07:03:30 -0800 Sales of newly built, single-family homes inched up 1.3 percent to a seasonally adjusted annual rate of 307,000 units in October, according to newly released data from the U.S. Commerce Department. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14051 6B38BFCF-6F05-4BB0-AB94-F531A21CE185 Wed, 30 Nov 2011 07:10:19 -0800 Seventy-five percent of small business owners said Americans are so financially unprepared for retirement that it's becoming a crisis, according to a survey by Nationwide Financials. http://www.cnbc.com/id/45475874 7C39393A-BBB5-409F-9151-D772AF7EDF08 Tue, 29 Nov 2011 22:17:51 -0800 Republican leaders said Tuesday they would join Democrats in supporting an extension of the 2011 payroll-tax cut ... virtually assuring that American wage-earners will continue to receive the benefit next year. http://www.calculatedriskblog.com/2011/11/report-payroll-tax-cut-extension-is_30.html 9295265F-28E7-4AA4-9CFB-FE21C7B1BC25 Tue, 29 Nov 2011 22:15:45 -0800 An estimated 10.7-million households, or 22.1% of all homes with mortgages, had more debt on the properties than they were worth in the third quarter, according to Santa Ana research firm CoreLogic. http://latimesblogs.latimes.com/money_co/2011/11/one-in-five-american-homes-underwater.html B65F21E4-7A32-42D8-8A18-1614F737298C Tue, 29 Nov 2011 22:03:37 -0800 U.S. consumer confidence bounced back from a 2-1/2 year low in November as apprehension about job and income prospects eased, according to a private sector report released Tuesday. http://www.cnbc.com/id/45476235 141BBE2A-1F4B-4939-AED1-95C3A7019526 Tue, 29 Nov 2011 07:32:43 -0800 The Standard & Poor's/Case-Shiller index of 20 American cities, a key measure that is closely watched by economists, fell 0.6% from August to September and 3.6% from September 2010. All of the California cities in the index posted declines from the prior month. http://latimesblogs.latimes.com/money_co/real_estate/ B0622C28-3DD5-4F3C-BD4E-29725F34E1A6 Tue, 29 Nov 2011 07:25:07 -0800 The Census Bureau reports median sales price of new houses sold in October 2011 was $212,300; the average sales price was $242,300. http://www.calculatedriskblog.com/2011/11/new-home-prices-average-lowest-since.html B0A152C7-C940-4A0D-BB29-03D8CF103261 Tue, 29 Nov 2011 07:21:26 -0800 The American dream will come true a lot less frequently in the next few years than it did before the recession hit, a real estate consultant said. http://www.pe.com/business/business-insider-headlines/20111128-real-estate-look-for-drop-in-home-ownership.ece 78281862-9C98-4AB7-921A-37F84867BC92 Tue, 29 Nov 2011 07:27:31 -0800 The Census Bureau reports New Home Sales in October were at a seasonally adjusted annual rate (SAAR) of 307 thousand. This was up from a revised 303 thousand in September (revised down from 313 thousand). http://www.calculatedriskblog.com/2011/11/new-home-sales-in-october-307000-saar.html BD308422-0E21-4F06-AF35-D589A7EAF16D Mon, 28 Nov 2011 07:23:02 -0800 Democratic Rep. Barney Frank of Massachusetts is expected to announce his retirement from Congress on Monday, closing out a career of more than three decades capped by passage last year of legislation imposing new regulations on Wall Street. http://finance.yahoo.com/news/Rep-Barney-Frank-retire-apf-2888383863.html?x=0 64C39658-4393-4EE2-9E82-9B8298D52873 Mon, 28 Nov 2011 07:22:04 -0800 The inventory experienced its biggest drop in five years. As is expected for the remainder of the year, the Orange County housing market has hit another new low for 2011, 9,172 homes. That’s after shedding 371 homes in the past two weeks, a 4% drop. http://www.ocregister.com/articles/market-328890-quickened-inventory.html 4790F162-C262-4AA8-81C9-FE4643C40274 Mon, 28 Nov 2011 07:15:12 -0800 The total homes listed for sale continue to move downward. The latest decline in October to 3.33 million was partly seasonal, as autumn and winter months nearly always have fewer listings in comparison with spring and summer months. http://economistsoutlook.blogs.realtor.org/2011/11/21/lowest-inventory-in-six-years/ 6C54DAD5-1A87-41C4-A5C2-3540FCC807E9 Fri, 25 Nov 2011 07:56:39 -0800 Brandywine Homes of Irvine has started construction of 53 homes at Century Village in Garden Grove. Century Village sits on 2.67 acres of land on Taft St. near the city’s civic center. http://lansner.ocregister.com/2011/11/24/builder-hopes-to-rekindle-garden-grove-housing/148863/ 7231FF98-397B-4B56-BA2A-3371FCEC5115 Fri, 25 Nov 2011 07:54:08 -0800 The number of house deals signed by homebuyers in California increased for a sixth consecutive month in October, although last year’s figures were low to begin with, California Association of Realtors figures show. http://lansner.ocregister.com/2011/11/23/calif-pending-home-sales-up-for-6th-month/152183/ 3D7AB263-2111-4C04-B3D9-A5E7BB9A9980 Fri, 25 Nov 2011 07:52:30 -0800 30-year fixed-rate mortgage averaged 3.98 percent with an average 0.7 point for the week ending November 23, 2011, down from last week when it averaged 4.00 percent. 1-year Treasury-indexed ARM averaged 2.79 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=89645 317DA5E8-6B9C-4E6C-9876-0D637A2A1361 Thu, 24 Nov 2011 10:22:42 -0800 U.S. home prices will stagnate through next year and only start recovering in 2013, according to economists polled by Reuters who also felt the stimulus options being floated will not do much to reinvigorate the market. http://www.cnbc.com/id/45416286 2B037E60-877B-436F-A811-B599F9870377 Wed, 23 Nov 2011 21:43:57 -0800 Orange County’s rating is 0.53, which means that for every 100 outsiders conducting searches of Orange County homes for sale or rent, 189 locals are looking at properties elsewhere, according to Trulia.com. http://lansner.ocregister.com/2011/11/23/more-want-to-leave-o-c-than-move-here/152013/ E62231F1-5434-4B06-A2DC-51EF48D1035B Wed, 23 Nov 2011 07:41:47 -0800 The Thomson Reuters/University of Michigan's final reading on the overall index on consumer sentiment came in at 64.1, up from 60.9 the month before. http://www.cnbc.com/id/45415641 C51819B4-1ECB-4BCE-BD1F-5922528FA309 Wed, 23 Nov 2011 07:40:50 -0800 Personal income increased $48.1 billion, or 0.4 percent in October, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $8.2 billion, or 0.1 percent. http://www.calculatedriskblog.com/2011/11/personal-income-increased-04-in-october.html D6A65BC8-0020-42D7-8FE0-9EED3CC0F3DD Wed, 23 Nov 2011 07:35:37 -0800 The DOL reports in the week ending November 19, the advance figure for seasonally adjusted initial claims was 393,000, an increase of 2,000 from the previous week's revised figure of 391,000. http://www.calculatedriskblog.com/2011/11/weekly-initial-unemployment-claims-at.html 31D5734D-36E8-4233-BE62-9DA1F8B1BBD8 Wed, 23 Nov 2011 07:28:30 -0800 "Purchase applications increased last week, returning to levels from before the Veteran’s Day holiday," said Michael Fratantoni, MBA’s Vice President of Research and Economics. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78637.htm EC0BA9C3-3E93-4559-8058-33C9A5F812D4 Wed, 23 Nov 2011 07:26:38 -0800 The FDIC released the Quarterly Banking Profile today for Q3. The report showed that 1-4 family Real Estate Owned (REO) by FDIC insured institutions declined to $11.9 billion in Q3, from $12.1 billion in Q2 - and from a record $14.76 billion in Q3 2010. http://www.calculatedriskblog.com/2011/11/fdic-insured-institutions-1-4-family.html 0C6D6719-0520-4FE2-BAE3-F060F0ECB841 Wed, 23 Nov 2011 07:25:00 -0800 Only slightly worse than Kentucky, California ranked 20th in SiteSelection.com’s annual ranking of state business climates for new factories and offices. http://lansner.ocregister.com/2011/11/22/california-20th-best-place-for-new-factory/150023/ 63E3B807-57B7-4DD8-9C25-EE800C801C4C Tue, 22 Nov 2011 20:38:39 -0800 Congress' failed deficit-cutting supercommittee has faded away, but the pressure on lawmakers to quickly confront a stack of expensive economic issues is only growing. http://finance.yahoo.com/news/Congress-next-fights-jobless-apf-1631317251.html?x=0&l=1 8A2A4E04-7B38-43E5-BCB7-49675BB71050 Tue, 22 Nov 2011 20:32:36 -0800 Economists hoped the so-called congressional supercommittee would decide whether to extend both measures. But the committee couldn't even agree on how to reach its main goal, cutting $1.2 trillion from the federal budget deficit. http://finance.yahoo.com/news/Economy-suffer-tax-cut-apf-2741088809.html?x=0&l=1 D9526C0F-FBF2-49A5-8C65-F2E797B21637 Tue, 22 Nov 2011 20:30:26 -0800 Regional and state unemployment rates were generally little changed or slightly lower in October. Thirty-six states and the District of Columbia recorded unemployment rate decreases, five states posted rate increases, and nine states had no rate change, the U.S. Bureau of Labor Statistics reported today. http://www.calculatedriskblog.com/2011/11/state-unemployment-rates-little-changed.html 73C151DF-1E89-4D1D-AD0C-5677B1A17EC0 Tue, 22 Nov 2011 20:16:16 -0800 President Barack Obama will challenge the U.S. Congress to preserve an expiring payroll tax cut on Tuesday as he travels to New Hampshire to seize the initiative in the wake of a collapsed effort to reduce the nation's budget deficit. http://www.cnbc.com/id/45398675 1498C7FB-45F8-4365-BD35-DE6F8AF2DE1C Tue, 22 Nov 2011 08:11:23 -0800 Bank earnings rose over the summer to their highest level in more than four years, while the number of troubled banks fell for the second straight quarter, federal regulators reported Tuesday. http://finance.yahoo.com/news/FDIC-Bank-earnings-hit-apf-3014129874.html?x=0&l=1 6D5F5B67-75AC-46BB-BAB7-532AED0FAFA5 Tue, 22 Nov 2011 08:09:10 -0800 The U.S. economy grew more slowly than previously estimated in the third quarter, but weak inventory accumulation amid sturdy consumer spending supported views output would pick up in the current quarter. http://www.cnbc.com/id/45399429 893351B5-5013-43D6-A3D0-48F0C04094E0 Tue, 22 Nov 2011 08:08:03 -0800 Freddie Mac released today its U.S. Economic and Housing Market Outlook for November showing that despite positive economic signs consumers remain worried about their financial well being - a major reason why home sales remain relatively lackluster, despite the most affordable home-buyer market in decades. http://freddiemac.mediaroom.com/index.php?s=12329&item=88481 57480FA5-181B-4A86-BFC3-F5D4DAD008E4 Tue, 22 Nov 2011 08:04:08 -0800 Portola Hills was tops at 75% of its listings as foreclosures being resold by banks or short sales by owners; followed by Rancho Santa Margarita at 68.9% of listings; then came Ladera Ranch at 66.7% of listings. http://lansner.ocregister.com/2011/11/22/distressed-listings-heaviest-in-so-county-foothills/148793/ AAA11E2E-AFF9-40E6-AB1C-B2AB05DA3AC3 Tue, 22 Nov 2011 07:59:27 -0800 Bank of America Corp.'s board has been told that the company could face a public enforcement action if regulators aren't satisfied with recent steps taken to strengthen the bank ... The nation's second-largest lender has been operating under a memorandum of understanding since May 2009. http://online.wsj.com/article/SB10001424052970203710704577052491450383120.html 8B7ADDF1-AD8E-4BE5-ACE4-12850771C202 Tue, 22 Nov 2011 07:54:42 -0800 U.S. commercial real-estate prices fell 1.4% in September, ending a four-month growth streak ... Moody's expects "multi-family and hotel properties to lead the price recovery," said Nick Levidy, Moody's managing director. http://online.wsj.com/article/BT-CO-20111121-710494.html B33D325C-0B89-4ECD-82B7-192D5929BA13 Tue, 22 Nov 2011 07:52:35 -0800 Freddie Mac released today its U.S. Economic and Housing Market Outlook for November showing that despite positive economic signs consumers remain worried about their financial well being - a major reason why home sales remain relatively lackluster, despite the most affordable home-buyer market in decades. http://freddiemac.mediaroom.com/index.php?s=12329&item=88481 46043D7D-4D3E-43D8-A859-47AEB4A06E28 Mon, 21 Nov 2011 08:01:06 -0800 We’ve seen the effects of tight mortgage conditions over the last year. Existing and new homes sales have struggled and we are now left with sizable pent-up demand. Will this trend continue into 2012? http://realtytimes.com/rtpages/20111121_realestateoutlook.htm 18F17803-54A1-46EA-95C1-BF72C051DD0E Mon, 21 Nov 2011 07:58:36 -0800 If we were to go strictly by house payments, the cost of buying an Orange County home is now the lowest it’s been in eight to 11 years. http://lansner.ocregister.com/2011/11/21/o-c-house-payments-at-8-year-low/149503/ 396ED05B-EAB6-4D9C-982D-BF0F7630B6ED Mon, 21 Nov 2011 07:54:54 -0800 NAR reports total existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 1.4 percent to a seasonally adjusted annual rate of 4.97 million in October from a downwardly revised 4.90 million in September, and are 13.5 percent above the 4.38 million unit level in October 2010. http://www.realtor.org/press_room/news_releases/2011/11/ehs_oct 6FB14E64-FAB6-4FA7-BAF2-FDD63F294165 Mon, 21 Nov 2011 07:20:24 -0800 The congressional committee tasked with reducing the federal deficit is poised to admit defeat as soon as Monday, and its unfinished business will set up a year-end battle over emergency jobless benefits and an expiring payroll tax holiday. http://www.washingtonpost.com/business/economy/supercommittee-likely-to-admit-defeat-on-debt-deal/2011/11/19/gIQAgtGfcN_story.html 6F9B8C75-1469-4975-ACC3-B21F731ADDE8 Sun, 20 Nov 2011 21:36:38 -0800 In their latest outlook, top forecasters with the National Association for Business Economics predicted the economy would grow 2.4 percent in 2012, only a slight improvement from the 1.8 percent growth they expect for all of 2011. http://finance.yahoo.com/news/Economists-see-modest-growth-apf-1210246428.html?x=0&l=1 DB787A70-CC08-417E-8A5B-577DA7582C2F Sun, 20 Nov 2011 21:33:22 -0800 California home sales posted a marginal increase in October and also were above year-ago levels, according to figures released from the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). http://www.car.org/newsstand/newsreleases/2011newsreleases/octsalesprice/ C988BB8E-CA56-493D-9D67-95808BD859A8 Sun, 20 Nov 2011 21:29:10 -0800 Thirty-five percent of current clients surveyed by YouWalkAway.com said that they’re walking away from their homes sooner because of the upcoming expiration of the Mortgage Forgiveness Debt Relief Act at the end of next year. http://www.marketwatch.com/story/tax-relief-inspires-some-to-walk-away-from-home-2011-11-18 FA10F957-4B23-4CF1-AC57-2BFD575F0160 Fri, 18 Nov 2011 23:54:20 -0800 The latest Census information shows that the percentage of Americans who move has dropped to an all-time low. Only 11.6 percent of Americans changed residences last year, down from 12.5 percent in 2009. http://www.pe.com/business/business-insider-headlines/20111118-real-estate-americans-who-move-at-all-time-low.ece B86EFDD7-784B-483B-939A-A7D261C0B04C Fri, 18 Nov 2011 23:51:24 -0800 The West, with a 16.5% drop, was the only region without an increase in construction of single-family homes. One analyst says the overall gain is a sign that numbers will be good the rest of the year. http://www.latimes.com/business/realestate/la-fi-housing-starts-20111118,0,4792319.story 3A0AB64B-8A6E-4EF4-9EF8-C706C858C5B7 Fri, 18 Nov 2011 23:48:00 -0800 Republicans and Democrats on Congress' deficit-reduction supercommittee have resumed face-to-face meetings after more than a week of backbiting and stalemate. http://www.cnbc.com/id/45354009 885E4112-43E6-45C8-BA0A-96D810A5C9CE Fri, 18 Nov 2011 08:03:04 -0800 A gauge of future U.S. economic activity rose more than expected in October due to a sharp pick-up in new permits to build homes, suggesting the economy is gathering steam, the Conference Board said. http://www.cnbc.com/id/45354313 265EEDF3-DC7E-4624-A526-EEDB917E0A62 Fri, 18 Nov 2011 08:01:48 -0800 USA Today reported that family mortgages are growing in popularity. The chief executive, Timothy Burke of National Family Mortgage, calls the family mortgage "an opportunity to create a win-win". http://realtytimes.com/rtpages/20111118_familymtgs.htm 3F05C738-D5AF-443C-A658-006E0F1039FA Fri, 18 Nov 2011 07:50:59 -0800 The National Association of Realtors® commends Congress for reinstating the loan limit formula and maximum cap for Federal Housing Administration-insured loans for two years. http://www.realtor.org/press_room/news_releases/2011/11/congress_reinstates_fha_loan_limits D7E36584-B4CA-4CDA-A2D3-477089EA5C82 Fri, 18 Nov 2011 07:48:39 -0800 DataQuick shows sales activity and pricing at five-month lows. http://lansner.ocregister.com/2011/11/18/u-s-home-sales-pricing-at-5-month-lows/150103/ 92C362AE-4C33-48EA-B590-FCB926ECB67C Fri, 18 Nov 2011 07:40:15 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 4.00 percent with an average 0.7 point for the week ending November 17, 2011, up from last week when it averaged 3.99 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=85168 FECE130A-4527-4AF0-B1FF-2B9003EB0A72 Fri, 18 Nov 2011 07:37:14 -0800 A company owned by Bank of America is winding down key parts of its business, including acting as the middleman between third-party mortgage brokers and home appraisers, confirmed a Bank of America spokesman on Thursday. http://www.signonsandiego.com/news/2011/nov/18/bofa-subsidiary-wind-down-key-appraisal-service/ 45CEFFF6-AE50-4A17-BA3A-FEBD2F834BD7 Fri, 18 Nov 2011 07:33:38 -0800 The explanation, CRL said Thursday, is that higher-income borrowers in expensive boom states wound up with a disproportionate number of high-risk loans, as did the lower-income residents of cities with weak economies and housing markets. http://latimesblogs.latimes.com/money_co/real_estate/ 0EC2D29F-FD0B-44C2-AD0E-A28C048DE13A Fri, 18 Nov 2011 07:30:54 -0800 Information is sought on the mortgage giants' roles as landlords who own thousands of foreclosed properties in California. Also sought are details of their mortgage-servicing and home-repossession practices, a source says. http://www.latimes.com/business/realestate/la-fi-mortgage-probe-20111117,0,7829931.story 5497C506-E1CB-41DB-B3BA-13E82A6BBAC2 Fri, 18 Nov 2011 07:25:19 -0800 The seasonally adjusted delinquency rate for mortgage loans on one-to-four-unit residential properties fell to 7.99 percent in the third quarter of 2011, according to data from the Mortgage Bankers Association’s (MBA) National Delinquency Survey. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78538.htm 52AB8C65-E6E9-42B0-BB06-D5DE3EC1A803 Fri, 18 Nov 2011 07:21:55 -0800 The MBA reports the Refinance Index decreased 12.2 percent from the previous week. The seasonally adjusted Purchase Index decreased 2.3 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78517.htm B3816AB7-25EC-4736-BD7B-654363F24A69 Fri, 18 Nov 2011 07:20:58 -0800 Single-family housing starts rose 3.9 percent to a seasonally adjusted annual rate of 430,000 units in October, according to newly released data from the U.S. Commerce Department. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14030 52D9F25B-B507-4516-AFF4-EB1F89622662 Fri, 18 Nov 2011 07:17:17 -0800 DOL reports in the week ending November 12, the advance figure for seasonally adjusted initial claims was 388,000, a decrease of 5,000 from the previous week's revised figure of 393,000. http://www.calculatedriskblog.com/2011/11/weekly-initial-unemployment-claims-four.html BC2DA4E2-FF6F-45E0-A314-422A992FC6A3 Fri, 18 Nov 2011 07:15:24 -0800 Builder confidence in the market for newly built, single-family homes rose by three points to 20 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for November, released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14026 8D3C4D1A-8768-40A5-9E62-DDCA244C9BE8 Fri, 18 Nov 2011 07:09:11 -0800 An estimated 34,087 new and resale houses and condos were sold statewide last month. That was down 3.7 percent from 35,404 in September, and up 4.3 percent from 32,669 for October 2010. http://www.dqnews.com/Articles/2011/News/California/RRCA111116.aspx 1BF31E0F-E4B7-45F5-8719-9F5906481EFA Fri, 18 Nov 2011 07:06:29 -0800 The top Republican in the House says a recent proposal by GOP members of a special deficit committee is a "fair offer" despite criticism from conservatives who say it breaks the party's pledge on taxes. http://finance.yahoo.com/news/GOP-hopefuls-oppose-potential-apf-913521728.html?x=0&l=1 19A5280E-B092-4B42-9150-834D1FD76502 Tue, 15 Nov 2011 07:54:46 -0800 Congressional negotiators agreed late on Monday to extend funding for many U.S. government programs to mid-December, in a bipartisan move to avert any shutdown of agency operations that would otherwise occur by this weekend. http://www.cnbc.com/id/45302652 E388B790-4549-4152-8607-3B78C4C087F0 Tue, 15 Nov 2011 07:52:28 -0800 Essex Property Trust says its market forecast for Orange County shows local "effective" rents now rising at a 5.8% annual rate. http://www.ocregister.com/articles/rents-327018-rising-market.html 764F25A3-3CB7-46A3-9618-8C7F5256F7FD Tue, 15 Nov 2011 07:47:47 -0800 "Demand, the number of new pending sales over the prior month, continues to bounce around the 2,900 level since mid-September." - Steve Thomas http://lansner.ocregister.com/2011/11/14/pending-housing-deals-picked-up-in-october/147873/ 2041EB53-7099-4381-A35E-6132B9EC8B2E Tue, 15 Nov 2011 07:46:01 -0800 Zillow's new app allows home shoppers on Kindle Fire to search for, share and save information on more than 100 million for-sale and for-rent homes in Zillow’s database. http://www.pe.com/business/business-insider-headlines/20111114-real-estate-zillow-provides-app-for-kindle-fire.ece 45A07FC4-A31A-4369-A440-C8AAC4538A3E Tue, 15 Nov 2011 07:43:42 -0800 Of all the counties in the state, San Bernardino County had the most affordable housing, with 77 percent of households able to afford to buy the median priced existing single family home selling for $133,290. http://www.pe.com/business/business-insider-headlines/20111114-real-estate-ie-homes-most-affordable-in-state.ece 88B94552-06D3-44FA-A2F3-FD23E700A436 Tue, 15 Nov 2011 07:39:59 -0800 FHA is expected to sustain significant losses from loans insured prior to 2009...However, the MMI Fund will start to rebuild capital in 2012, and return to a level of two percent by 2014. http://www.calculatedriskblog.com/2011/01/house-prices-and-months-of-supply-and.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+CalculatedRisk+(Calculated+Risk) 6262DF2F-B21B-4703-94DE-05BDB91AFE38 Tue, 15 Nov 2011 07:33:51 -0800 Gathering storms across the Atlantic threaten a U.S. economy not yet recovered from the last recession. http://www.calculatedriskblog.com/2011/11/sf-fed-recession-odds-in-2012-are.html A57E12AD-038A-4A19-BEC7-AE1DDD1437EB Tue, 15 Nov 2011 07:28:02 -0800 Housing has always been linked to wealth in one fashion or another, but now the latest indicators from the Pew Research Center show that housing has been one of the prime reasons for "divergent wealth trends." In other words there is a growing wealth gap. http://realtytimes.com/rtpages/20111114_realestateoutlook.htm DF58BA34-8888-47F4-8EE3-DAF099271A73 Mon, 14 Nov 2011 08:21:56 -0800 The struggling housing market needs to be a priority on the nation’s public policy agenda, because housing and homeownership issues affect all Americans. http://www.realtor.org/press_room/news_releases/2011/11/housing_must_be_national_priority 9ABE9293-E3AA-4792-8084-539154381C92 Mon, 14 Nov 2011 08:05:40 -0800 Fraudsters find a way to scam lenders and homeowners out of money no matter how the housing market is faring, but in recent years they’ve shifted their tactics to profit from the market’s downturn. http://www.marketwatch.com/story/scammers-profit-from-struggling-housing-market-2011-11-14 770BADB8-0E66-4ADD-97B7-90C96A8D6912 Mon, 14 Nov 2011 08:03:49 -0800 Even as Bank of America and other major lenders back away from charging customers to use their debit cards, many banks have been quietly imposing other new fees. http://www.cnbc.com/id/45286104 1E56E26E-AAB1-4383-9B3C-0E083FAA9F8F Mon, 14 Nov 2011 08:00:27 -0800 The Supreme Court agreed Monday to decide the fate of President Barack Obama's healthcare law, with an election-year ruling due by July on the U.S. healthcare system's biggest overhaul in nearly 50 years. http://www.cnbc.com/id/45287781 F19965DB-CF2C-4C15-8524-9066BFBFA097 Mon, 14 Nov 2011 07:57:44 -0800 As of the end of August, the national average home price was $205,000. This is down 3.8 percent from August last year, and down 0.4 percent from January 1, 2011. http://www.calculatedriskblog.com/2011/11/lps-house-price-index-shows-38-percent.html 2D7D87CD-F823-4438-9D13-E2E9D53CBDFA Mon, 14 Nov 2011 07:29:23 -0800 If you’ve paid for a home appraisal within the last five years, a chunk of that charge likely went to a middleman you never knew existed. And because a third party was used, it might have driven up your closing costs and affected the quality of the valuation. http://www.signonsandiego.com/news/2011/nov/12/appraiser-middleman/ 01CA78C0-01FE-48AB-B046-CA5233C47F0D Mon, 14 Nov 2011 07:27:31 -0800 Lennar Homes is introducing a house designed for multigenerational living with two separate living areas under the same roof, a concept that the national home builder describes as "the home within a home." http://www.pe.com/business/business-headlines/20111112-real-estate-lennar-unveils-home-within-a-home.ece 7A9E9ABA-70DC-4564-99C1-F783C266C324 Mon, 14 Nov 2011 07:25:51 -0800 Lower prices and interest rates lead to a third-quarter increase in those who can afford a home at the statewide median to 52%, up from 51% in the previous quarter, according to a Realtor group's index. http://www.latimes.com/business/realestate/la-fi-housing-affordability-20111111,0,6083426.story D437956B-BB6F-45C9-8FB9-0B345AE5AA40 Mon, 14 Nov 2011 07:23:33 -0800 "I think paying off the mortgage would probably be a poor decision financially right now," said Gibran Nicholas, the chairman and chief executive of the Certified Mortgage Planning Specialist Institute, which trains and certifies financial planners who provide mortgage and real estate equity advice. http://www.car.org/newsstand/ 0CA00037-0C89-4313-8CBD-C0C06F4921C5 Mon, 14 Nov 2011 07:21:25 -0800 The Thomson Reuters/University of Michigan's preliminary reading on the overall index on consumer sentiment rose to 64.2 from 60.9 the month before, topping the median forecast of 61.5 among economists polled by Reuters. http://www.cnbc.com/id/45255233 801AF51D-EB46-4E26-A78A-109E1DB42BE4 Fri, 11 Nov 2011 07:39:27 -0800 The two main threats to the U.S. economy are government overregulation and plain fear that has not dissipated since the financial crisis, former General Electric chairman and author Jack Welch said. http://www.cnbc.com/id/45253495 086EAB5C-370A-4CCF-B051-510F4783D34A Fri, 11 Nov 2011 07:04:07 -0800 "For the first time in generations, the American dream of homeownership is being threatened," said Phipps, broker-president of Phipps Realty in Warwick, R.I. "We need to keep housing first on the nation’s public policy agenda, because housing and home ownership issues affect all Americans." http://www.realtor.org/press_room/news_releases/2011/11/realtors_seize_the_day 76A4BA68-12D0-4BCF-9E98-EA2B61F44740 Fri, 11 Nov 2011 06:58:36 -0800 The recent release of the California job numbers for September was somewhat provocative because it ran counter to the widespread notion that the Golden State is, you know, going downhill. http://lansner.ocregister.com/2011/11/10/analyst-calif-job-gains-top-texas/146633/ 0DDC2822-A1B3-4D4A-87A4-7DA0B30B51CF Fri, 11 Nov 2011 06:53:11 -0800 Electricity generation by rooftop solar installations in California has surpassed the one-gigawatt mark, according to an analysis of a state incentives program. http://www.signonsandiego.com/news/2011/nov/10/rooftop-solar-hits-1-gigawatt-mark-in-california/ FC9FB467-1B73-470F-AD22-857EFE7FE96A Fri, 11 Nov 2011 06:49:33 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.99 percent with an average 0.7 point for the week ending November 10, 2011, down from last week when it averaged 4.00 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=82900 1DA5CB13-B897-4C13-8573-3BC533AB6CD6 Thu, 10 Nov 2011 07:43:23 -0800 The U.S. Department of Housing and Urban Development is offering its foreclosed homes for a mere $100 down from now until October 2012. http://realtytimes.com/rtpages/20111110_hudhome.htm B1832D53-C86A-416C-8650-4BF3258BAB25 Thu, 10 Nov 2011 07:42:04 -0800 Builder confidence in the 55+ housing market for single-family homes fell three points to 12 compared to the same period a year ago, according to the latest National Association of Home Builders’ 55+ Housing Market Index released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=13963 55D4A6D2-A909-4897-B8E3-DA5FB4426D85 Thu, 10 Nov 2011 07:40:02 -0800 The DOL reports in the week ending November 5, the advance figure for seasonally adjusted initial claims was 390,000, a decrease of 10,000 from the previous week's revised figure of 400,000. The 4-week moving average was 400,000, a decrease of 5,250 from the previous week's revised average of 405,250. http://www.calculatedriskblog.com/2011/11/weekly-initial-unemployment-claims_10.html DD7DFCF4-B378-4BBA-BC27-A728DB3AFDA2 Thu, 10 Nov 2011 07:34:54 -0800 Foreclosure activity rose 7% in October compared with September, a sign that lenders are picking up the pace after foreclosure processing problems caused delays, RealtyTrac said Thursday. http://www.marketwatch.com/story/foreclosures-jump-7-in-october-from-september-2011-11-10 AC61B80B-6E37-4CDB-BFD7-FD79B68CBC12 Thu, 10 Nov 2011 07:32:54 -0800 Fannie's REO inventory fell to 122,616 houses from 135,719 at the end of Q2. Fannie's REO inventory has declined for four straight quarters. http://www.calculatedriskblog.com/2011/11/housing-reo-and-mortgage-delinquencies.html FA1894B3-16BA-4E61-AFA9-0C653A82BBF0 Thu, 10 Nov 2011 07:31:45 -0800 It’s the second time in two years that the 1.1-million-member trade group met in Southern California. The 2009 conference took place in San Diego. http://lansner.ocregister.com/2011/11/10/anaheim-hosting-u-s-realtor-conference/145243/ 3A6F6A34-E168-4C15-946E-52AFD20E3A57 Thu, 10 Nov 2011 07:27:18 -0800 After adjusting to historically low sales in 2011, some leading Southern California home builders are expecting very similar conditions in 2012 as employment slowly improves and the batch of competing foreclosed homes is slowly liquidated. http://www.pe.com/business/business-headlines/20111109-real-estate-home-builders-describe-strategies-for-survival.ece 6F35CD1B-B49B-4364-A435-AD801A9F654C Thu, 10 Nov 2011 07:26:00 -0800 Mortgage giant Fannie Mae is asking the federal government for $7.8 billion in aid to covers its losses in the July-September quarter. http://www.latimes.com/business/la-fiw-fannie-loan-20111108,0,4027510.story CD921FBB-C023-4425-B782-ADA9FD0009FA Thu, 10 Nov 2011 07:23:35 -0800 The MBA reports the Refinance Index increased 12.1 percent from the previous week. The seasonally adjusted Purchase Index increased 4.8 percent from one week earlier to the highest level since August 2011. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78422.htm 344727C2-DCF4-472B-AB2A-FEC365BB837D Wed, 9 Nov 2011 07:04:21 -0800 REO inventories have declined over the last few quarters. This is a combination of more sales and fewer acquisitions due to the slowdown in the foreclosure process. http://www.calculatedriskblog.com/2011/11/fannie-freddie-and-fha-reo-inventory.html 822A85BF-0FE4-4FF7-A49E-98D940BDC862 Wed, 9 Nov 2011 07:02:27 -0800 The BLS reports the number of job openings in September was 3.4 million, up from 3.1 million in August. Although the number of job openings remained below the 4.4 million openings when the recession began in December 2007, the level in September was 1.2 million higher than in July 2009. http://www.calculatedriskblog.com/2011/11/bls-job-openings-increase-in-september.html 2BF44530-BE1B-4A6C-8A0E-AEDFE2F8B8A7 Wed, 9 Nov 2011 06:59:20 -0800 The number of improving housing markets continued to expand for a third consecutive month in November, rising from 23 to 30 on the latest National Association of Home Builders/First American Improving Markets Index, released today. http://www.signonsandiego.com/news/2011/nov/08/mortgage-aid-open-more-calif-borrowers/ A836E334-DD86-40A3-93DB-4E34035C5870 Wed, 9 Nov 2011 06:49:33 -0800 Small businesses in the U.S. grew more confident in the economy's future for the second straight month during October as their outlook for business conditions improved, according to a survey released on Tuesday. http://www.cnbc.com/id/45204842 4A67EFC3-5072-491E-98D4-17E6560B7718 Tue, 8 Nov 2011 07:17:12 -0800 HousingTracker reported that the November listings - for the 54 metro areas - declined 16.8% from the same week last year. http://www.calculatedriskblog.com/2011/11/visible-existing-home-inventory.html 5D53CB47-F694-4703-8C24-2B9BDDD4DCCA Tue, 8 Nov 2011 07:14:10 -0800 According to the CoreLogic HPI, national home prices, including distressed sales, declined by 4.1 percent in September 2011 compared to September 2010. http://www.calculatedriskblog.com/2011/11/corelogic-house-price-index-declined-11.html 7FC9B0B8-B0E7-4FA9-8798-F4E0A48B4837 Tue, 8 Nov 2011 07:08:55 -0800 The U.S. economy will continue to struggle to recover in 2012, buoyed by increased business investment but still overshadowed by a very weak labor market, a Federal Reserve economist told the annual West Virginia Economic Outlook Conference on Tuesday. http://finance.yahoo.com/news/Economist-sees-restrained-US-apf-2963774059.html?x=0&.v=3 FF4F548A-CE42-4CE4-B9B3-CEEF458CB764 Tue, 8 Nov 2011 07:07:50 -0800 A sputtering Congress enveloped in an atmosphere poisoned with politics and distrust enters its final weeks of the year struggling to complete a lengthy to-do list on the budget. http://finance.yahoo.com/news/Congress-sputters-on-deficit-apf-1648299019.html?x=0&.v=1 70A52039-0C0F-44BD-83D4-2A6736DE141E Tue, 8 Nov 2011 07:05:56 -0800 Foreclosure filings in Nevada plunged in October during the first month of a new state law stiffening foreclosure-processing requirements. http://blogs.wsj.com/developments/2011/11/07/nevada-foreclosure-filings-dry-up-after-robo-signing-law/ C7147CFD-4766-45D3-AC7B-D6482FB0F1E0 Tue, 8 Nov 2011 07:01:48 -0800 In the third quarter of 2011, 82 percent of homeowners who refinanced their first-lien home mortgage either maintained about the same loan amount or lowered their principal balance by paying-in additional money at the closing table, according to Freddie Mac. http://freddiemac.mediaroom.com/index.php?s=12329&item=81718 501714FA-696E-4860-A723-0045E955FB35 Tue, 8 Nov 2011 06:58:58 -0800 Hiring statewide will be modestly higher in the fourth quarter, according to a report released by Chapman University. http://economy.ocregister.com/2011/11/04/california-hiring-to-see-slight-increase-chapman/88453/ 089CFC9F-5D7A-4F18-A73C-64793030D587 Tue, 8 Nov 2011 06:48:56 -0800 The rate that mortgage holders were late with their payments by 60 days or more rose in the June-to-September period for the first time since the last three months of 2009, according to TransUnion. http://finance.yahoo.com/news/Late-mortgage-payments-up-in-apf-213422272.html?x=0&.v=1 0A95179D-2863-462B-A52A-2C7BA86060C7 Mon, 7 Nov 2011 22:14:27 -0800 The wealth gap between younger and older Americans has stretched to the widest on record, worsened by a prolonged economic downturn that has wiped out job opportunities for young adults and saddled them with housing and college debt. http://www.cnbc.com/id/45188794 8986D068-9046-4F9D-8CD8-0357DE447A55 Mon, 7 Nov 2011 08:23:00 -0800 President Barack Obama is promoting new ways to help veterans find jobs in a tough economy while pressing Congress to approve tax credits for businesses to hire former members of the military. http://finance.yahoo.com/news/Obama-to-promote-ways-for-apf-803468328.html?x=0&.v=5 051D92BA-1F72-4D6F-9017-DB57A9198594 Mon, 7 Nov 2011 08:21:40 -0800 If we continue to see sluggish growth with 125,000 payroll jobs added per month (the pace this year), it will take an additional 52 months just to get back to the pre-recession level of payroll employment. http://www.calculatedriskblog.com/2011/11/sluggish-growth-and-payroll-employment.html A40F169A-9C3C-4665-9DB3-FADC4A8C20C0 Mon, 7 Nov 2011 07:17:58 -0800 Many local governments like Anaheim, Calif., and Luzerne County, Pa., have contracted out services including park maintenance, graffiti removal and tax claims. http://www.cnbc.com/id/45187246 DB2DD51C-70CC-4C1F-B30E-28539414A0EF Mon, 7 Nov 2011 07:16:28 -0800 By tapping into an aquifer the size of Rhode Island under the 35,000-acre Cadiz ranch, proponents say they can supply 400,000 people with drinking water in only a few years. http://finance.yahoo.com/news/Oasis-or-mirage-Company-wants-apf-782298624.html?x=0&.v=1 52E0B79B-1CE9-427F-83F1-31EFCF7C1871 Mon, 7 Nov 2011 07:15:21 -0800 The number of improving housing markets continued to expand for a third consecutive month in November, rising from 23 to 30 on the latest National Association of Home Builders/First American Improving Markets Index, released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=13925 9C2F5A6B-9E1C-493C-83A5-3DF8C83211C8 Mon, 7 Nov 2011 07:11:31 -0800 The overall delinquency rate for single-family mortgages edged down to an estimated 12.0 during the third quarter from 12.3 percent in the second quarter and 13.1 percent a year ago and seriously delinquent loans will be at 5 percent, the same level as the fourth quarter of 2009. http://www.mortgagenewsdaily.com/11042011_delinquencies.asp D87D00C0-2507-45CF-85EF-639B9E80D97D Mon, 7 Nov 2011 07:09:59 -0800 Knowing someone who has defaulted on his mortgage makes a person less optimistic about the economy, according to a recent survey released by Fannie Mae. http://www.marketwatch.com/story/mortgage-defaults-make-neighbors-pessimistic-2011-11-04 B04EB349-620D-4910-A455-9CE047ECC432 Mon, 7 Nov 2011 07:08:01 -0800 Construction employment declined by 20 thousand jobs in October, and is now down 2.2 million jobs from the peak in April 2006. However construction employment is up 27 thousand this year through the October BLS report. http://www.calculatedriskblog.com/2011/11/construction-employment-down-in-october.html 10F11716-8D3E-47B9-A3B6-A5BC627EB40D Mon, 7 Nov 2011 07:05:29 -0800 The project, across from the Laguna Hills Mall, is seen by city officials as a bit of a catalyst for other improvements in what is known as the Urban Village plan, an effort centered on the mall and the adjacent Oakbrook Village to transform the area "into a village-like downtown district." http://www.ocregister.com/news/city-325400-development-hodgdon.html B33D76D5-1903-4597-8C95-F032F37E222C Mon, 7 Nov 2011 07:03:32 -0800 Year-to-date through September, one third of realtors have said appraisals resulted in buyers and sellers delaying or canceling contracts or renegotiating to a lower sales price, according to the National Association of Realtors. http://www.smartmoney.com/spend/real-estate/how-appraisals-are-derailing-home-sales-1320357466034/?grcc=88888Z0&mod=WSJ_hpp_sections_personalfinance BA7493AF-5F93-4376-B08A-A1A8DBAC512D Mon, 7 Nov 2011 07:00:10 -0800 The American economy added 80,000 jobs in October, and job growth in the two previous months was much stronger than first thought, an encouraging sign as the nation searches for a way out of the jobs crisis. http://finance.yahoo.com/news/US-added-80000-jobs-in-apf-365785889.html?x=0&.v=11 54C59DAA-5915-42A1-BFB3-DB602C20AE55 Fri, 4 Nov 2011 07:37:59 -0700 Section 1031 real-estate exchanges are back -- and that means investors need to be cautious. http://www.smartmoney.com/spend/real-estate/investors-be-wary-of-these-realestate-deals-1320325260909/ DF7ED840-8D7E-4E58-B387-FDC67E533F3A Fri, 4 Nov 2011 07:35:30 -0700 Now may be a great time to buy a house, given that years of falling home prices and low mortgage rates have made buying a place to live more affordable than it has been in decades. http://www.marketwatch.com/story/why-housing-deserves-a-home-in-your-portfolio-2011-11-04 2764A09B-60A6-4214-9F21-5C0FE8524E0D Fri, 4 Nov 2011 07:30:36 -0700 According to a UCLA forecast, you could see your home’s value rise around 34.6% within the next six years - a gain of about $149,000 on a median priced home. http://lansner.ocregister.com/2011/11/04/bought-a-home-in-06-prices-still-down-in-17/142813/ 4C2DC06D-BAB8-418A-B823-855FFAAEDD2A Fri, 4 Nov 2011 07:24:50 -0700 Total factory orders increased for a third straight month, edging up 0.3 percent, the Commerce Department reported Thursday. http://finance.yahoo.com/news/Factory-orders-rose-03-apf-762675731.html?x=0&.v=3 B12A66EE-B5DE-4844-895D-A8E0B290B64B Thu, 3 Nov 2011 07:55:59 -0700 Mortgage finance giant Freddie Mac said on Wednesday it will seek an additional $6 billion from U.S. taxpayers following its worst quarterly loss this year. http://www.cnbc.com/id/45147605 29D1A391-176F-44C8-AF46-B9EBE42CC5FC Thu, 3 Nov 2011 07:49:33 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 4.00 percent with an average 0.7 point for the week ending November 3, 2011, down from last week when it averaged 4.10 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=78808 BEBFDC21-8B08-43FB-89D7-82791484CB68 Thu, 3 Nov 2011 07:47:52 -0700 The October ISM Non-manufacturing index was at 52.9%, down slightly from 53.0% in September. The employment index increased in October to 53.3%, up from 48.7% in September. http://www.calculatedriskblog.com/2011/11/ism-non-manufacturing-index-indicates.html CE47116C-033F-42D1-8753-95A5DB2C4226 Thu, 3 Nov 2011 07:46:44 -0700 The DOL reports in the week ending October 29, the advance figure for seasonally adjusted initial claims was 397,000, a decrease of 9,000 from the previous week's revised figure of 406,000. http://www.calculatedriskblog.com/2011/11/weekly-initial-unemployment-claims.html 67696924-EFF9-401B-BEFA-55F38019570C Thu, 3 Nov 2011 07:43:14 -0700 Third quarter 2011 commercial and multifamily mortgage loan originations were 98 percent higher than during the same period last year and 10 percent higher than the second quarter of 2011, according to the Mortgage Bankers Association. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78363.htm 05864AE0-723F-4A09-82BF-A7043C835F72 Thu, 3 Nov 2011 07:39:25 -0700 With a brush fire in Brea, and red-flag winds ready to howl, we though we’d share some fire-protection ideas from Insurance Information Network of California. http://lansner.ocregister.com/2011/11/02/is-your-home-ready-for-wildfire-season/142253/ 8022F223-7CB6-46C4-92A9-5C7BE3C6B50F Thu, 3 Nov 2011 07:37:46 -0700 The Federal Reserve on Wednesday slashed its forecast for economic growth, raised projections for unemployment, and suggested Europe's debt crisis posed big downside risks to the U.S. economy. http://www.cnbc.com/id/45136120 3293AC5C-62C6-4026-9F0A-011CCE5BC781 Wed, 2 Nov 2011 23:00:02 -0700 Employment in the U.S. nonfarm private business sector increased by 110,000 from September to October on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. http://www.calculatedriskblog.com/2011/11/adp-private-employment-increased-110000.html 2FA45433-7311-4BC8-BF00-6C6DEE86A807 Wed, 2 Nov 2011 07:50:16 -0700 The MBA's seasonally adjusted gauge of loan requests for home purchases rose 1.8 percent, while the index of refinancing applications was off 0.2 percent. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78332.htm CDDDC8CC-D6D6-441C-8492-A7CB4E5B0DC2 Wed, 2 Nov 2011 07:48:35 -0700 The most-improved O.C. town in terms of a year’s percentage change in Thomas’ "market time" is Dove Canyon at 2.1 months to theoretically sell all for-sale homes at the current buying pace. http://lansner.ocregister.com/2011/11/01/newport-coast-home-market-slows-the-most/141793/ 8A766A62-470B-471A-BBBD-9047AB296E5C Wed, 2 Nov 2011 07:44:51 -0700 A large-scale review of foreclosures that occurred in 2009 and 2010 began on Tuesday with federal regulators requiring the nation’s largest mortgage servicers to start mailing letters to potential victims. http://latimesblogs.latimes.com/money_co/2011/11/massive-review-of-foreclosures-begins-by-banks-and-regualtors.html FA7C30DB-4712-4A1B-A3D6-98D10569BF81 Wed, 2 Nov 2011 07:38:41 -0700 Construction spending rose 0.2 percent in September from August to a seasonally adjusted annual rate of $787.2 billion, the Commerce Department said Tuesday. It was the second straight monthly increase. http://finance.yahoo.com/news/US-builders-spent-slightly-apf-1667841229.html?x=0&.v=4 014E4EF3-30F4-4A80-80DC-E3F20CC7DCFE Tue, 1 Nov 2011 07:40:25 -0700 Fannie Mae reported that the Single-Family Serious Delinquency rate declined to 4.00% in September while Freddie Mac reported serious delinquency rate increased to 3.51% in September. http://www.calculatedriskblog.com/2011/10/fannie-mae-and-freddie-mac-serious.html 0F14E842-812A-4EFC-9E54-86B698A2F8A8 Tue, 1 Nov 2011 07:03:58 -0700 A ban on foreclosure auctions outside the downtown San Diego Superior Court has forced those who conduct them to two other areas that already host such transactions, a spokesman with a trade group that represents trustees said Monday. http://www.signonsandiego.com/news/2011/oct/31/downtown-foreclosure-auctioneers-have-moved-elsewh/ 249B9457-8CD7-4864-BCC2-DA9D18DE8902 Tue, 1 Nov 2011 06:56:38 -0700 According to Fiserv, a financial analytics company, home values are expected to fall another 3.6% by next June, pushing them to a new low of 35% below the peak reached in early 2006 and marking a triple dip in prices. http://money.cnn.com/2011/10/31/real_estate/home_prices/index.htm?iid=Lead 6314BDB8-F0F3-4633-AD07-65CCB48E4830 Tue, 1 Nov 2011 06:52:25 -0700 The Institute for Supply Management-Chicago business barometer dipped to 58.4 from 60.4 the month before, falling short of expectations of 59.0, according to a Reuters poll. http://www.cnbc.com/id/45102733 ADA1D449-60BB-4DB1-B106-0FDA15C72EA8 Tue, 1 Nov 2011 06:51:22 -0700 Mortgage rates are near historical lows, but the rates lenders are quoting you aren’t as eye-popping as those you see in the news. http://www.marketwatch.com/story/why-you-cant-get-the-lowest-mortgage-rates-2011-10-31 DE785BAD-EB9C-4110-83EF-32BB262AD04A Tue, 1 Nov 2011 06:50:51 -0700 The active listing inventory dropped to its lowest point of the year and will only shed more homes until we bring in a New Year. The active listing inventory dropped below the 10,000 home mark. http://lansner.ocregister.com/2011/10/31/supply-of-o-c-homes-for-sale-hits-2011-low/141143/ D2C24351-8678-4890-B62D-886966F7C379 Tue, 1 Nov 2011 06:50:26 -0700 In polling prospective home buyers, Zillow discovered that 42 percent believe home values typically appreciate by 7 percent a year. This is an unrealistic expectation, Zillow says because historically home values in a normal market appreciate by two to five percent a year. http://www.pe.com/business/business-insider-headlines/20111031-real-estate-expectations-of-home-appreciation-too-optimistic.ece AD83E6C5-7C11-4379-A2E5-CC10D6445BA9 Tue, 1 Nov 2011 06:50:07 -0700 After heavy criticism, big banks are starting to rethink their monthly debit-card fees. Bank of America is revamping its plans as rivals Wells Fargo and JPMorgan Chase have decided not to charge monthly fees, ending test programs in certain states. http://www.cnbc.com/id/45080627 5514ADDD-009F-4B10-8258-3B4AC1DD05B4 Sun, 30 Oct 2011 23:16:58 -0700 AppraiserLoft has left appraisers across the country with unpaid invoices for hundreds to thousands of dollars, some dating back three to four months. http://www.signonsandiego.com/news/2011/oct/28/appraiser-complain-theyre-left-holding-the-bag/ 655EEA7A-AADA-4830-B40C-75C38C22CB74 Sun, 30 Oct 2011 23:04:25 -0700 A state-run housing agency at least temporarily has suspended the practice of foreclosing on a small number of borrowers who rented out their homes. http://latimesblogs.latimes.com/money_co/real_estate/ 269B95C5-946F-4922-913F-257F6819BF71 Sun, 30 Oct 2011 23:01:06 -0700 A fight is brewing up among House Republicans about whether to restore higher limits on the size of government-backed home loans. http://blogs.wsj.com/developments/2011/10/27/loan-limit-battle-looms-for-house-republicans/?mod=WSJBlog&mod=WSJ_Real%20Estate_BLOGSDEVELOPMENTSFEED 17FE0C49-77B4-4B49-B53A-924BFBDB6FB4 Sun, 30 Oct 2011 22:58:43 -0700 U.S. consumer sentiment improved in October for the second month in a row as consumers felt more upbeat about the economy's prospects, a survey released on Friday showed. http://www.cnbc.com/id/45075556 026A4A29-5E01-4AD7-9273-6D209DDA2CF5 Fri, 28 Oct 2011 07:52:01 -0700 The BEA reports personal income increased $17.3 billion, or 0.1 percent in September. Personal consumption expenditures increased $68.7 billion, or 0.6 percent. http://www.calculatedriskblog.com/2011/10/personal-income-increased-01-in.html F0B67B5A-CA23-41E2-B979-E4EE02464351 Fri, 28 Oct 2011 07:46:29 -0700 The governor's proposed retirement system overhaul sets the stage for battles with fellow Democrats and his biggest supporters, public employee unions. http://www.latimes.com/news/local/la-me-brown-pensions-20111028,0,6084553.story 43C8AAB0-302F-420B-A774-88B4A70ED976 Thu, 27 Oct 2011 22:38:05 -0700 An major apartment owners with 11 Orange County complexes told Wall Street analysts recently that it sees local rents rising by as much as a 12 percent annual rate soon. http://www.ocregister.com/articles/year-324250-orange-county.html E5A4BC8B-23E9-495C-AA29-B8175B4619CA Thu, 27 Oct 2011 22:34:33 -0700 Increased demand for rental housing has led to a considerable uptick in multifamily construction, finds the National Multi Housing Council’s (NMHC) latest Quarterly Survey of Apartment Market Conditions. http://www.nmhc.org/Content/ServeContent.cfm?ContentItemID=6397&IssueID=164 BED95449-E143-49A8-A035-33526FD644DC Thu, 27 Oct 2011 22:30:49 -0700 Big investors are showing interest in an evolving Obama administration plan to sell off foreclosed homes, although the government will have to make the offer sweet enough to coax private funds. http://www.cnbc.com/id/45056823 57726DCB-27E1-43B1-9B53-E48E9ED449F6 Thu, 27 Oct 2011 22:27:43 -0700 The Commerce Department said Thursday that the economy expanded at an annual rate of 2.5 percent in the July-September quarter. That's the stronger growth in a year and nearly double the 1.3 percent growth in the April-June quarter. http://finance.yahoo.com/news/Economy-grew-25-pct-in-Q3-as-apf-3205450561.html?x=0&.v=12 F36944D2-76A6-40B2-9A26-D240F41AAC9C Thu, 27 Oct 2011 08:12:24 -0700 The DOL reports in the week ending October 22, the advance figure for seasonally adjusted initial claims was 402,000, a decrease of 2,000 from the previous week's revised figure of 404,000. http://www.calculatedriskblog.com/2011/10/weekly-initial-unemployment-claims-4_27.html D6E42DFB-B021-4CEB-B618-8EE1F0E54171 Thu, 27 Oct 2011 08:08:35 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 4.10 percent with an average 0.8 point for the week ending October 27, 2011, down from last week when it averaged 4.11 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=76040 80893775-2159-4152-9367-9829C91CF2A2 Thu, 27 Oct 2011 08:00:55 -0700 The typical fixed rate for a 30-year home loan edged barely lower early this week amid mixed economic data, Freddie Mac said. But news that the U.S. economy is growing and that European leaders have reached a deal to reduce Greece's staggering debt load could push the cost of borrowing back higher. http://latimesblogs.latimes.com/money_co/2011/10/mortgage-rates-flat-freddie-mac.html 4CB9F550-75EF-4F4A-9FFF-07E63E1E0D95 Thu, 27 Oct 2011 07:59:06 -0700 The Pending Home Sales Index, a forward-looking indicator based on contract signings, fell 4.6% to 84.5 in September from 88.6 in August but is 6.4% higher than September 2010 when it stood at 79.4 according to NAR. http://www.realtor.org/press_room/news_releases/2011/10/phs_sept C16B4933-6B58-4134-835E-561C2F4C4181 Thu, 27 Oct 2011 07:49:40 -0700 California pending home sales fell 5.2% in September, but were up from a year ago, according to C.A.R.’s Pending Home Sales Index. The index was 118.5 in September, based on contracts signed in that month, down from August’s index of 125.0. http://www.car.org/newsstand/newsreleases/2011newsreleases/septemberpending/ 38706113-2106-465D-A783-23E848FDF11C Thu, 27 Oct 2011 07:45:38 -0700 Thursday's GDP report may show the economy grew in the third quarter at its fastest pace in a year. Economists expect to see growth of 2.5 percent, after dismally slow growth averaging less than 1 percent for the first half of this year. http://www.cnbc.com/id/45054362 F9CE67B0-88CF-401A-B6A1-3B47DE4D009F Thu, 27 Oct 2011 07:41:57 -0700 The Census Bureau reports sales of new single-family houses in September 2011 were at a seasonally adjusted annual rate of 313,000. This is 5.7 percent above the revised August rate of 296,000, but is 0.9 percent below the September 2010 estimate of 316,000. http://www.calculatedriskblog.com/2011/10/new-home-sales-increase-in-september-to.html 92B5DF3C-33A7-4977-82DA-ABD0CEDF7F30 Wed, 26 Oct 2011 07:45:15 -0700 The MBA reports the Refinance Index increased 4.4 percent from the previous week. The seasonally adjusted Purchase Index increased 6.4 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78279.htm F91300C9-10DB-4C5C-9909-E724F9525EF5 Wed, 26 Oct 2011 07:44:01 -0700 The thinking is that this will reduce defaults. Missing from that winners' list: investors who finance housing markets by purchasing mortgage-backed bonds. http://online.wsj.com/article/SB10001424052970204777904576651400580509200.html?mod=WSJ_RealEstate_LeftTopNews 6E89629D-3369-4742-B466-F20A95E44E51 Wed, 26 Oct 2011 07:40:41 -0700 America needs strong housing policies that ensure a robust recovery and do not further weaken the nation’s housing market. That was one of several recommendations resulting from the bipartisan New Solutions for America’s Housing Crisis forum on October 4 and endorsed by the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2011/10/stimulate_housing_recovery A3CB5531-9B84-49C0-BD38-38B00BAE4E01 Wed, 26 Oct 2011 07:38:04 -0700 Demand for a range of long-lasting U.S. manufactured goods rose more than expected in September to post the largest increase in six months, cementing views of a step-up in economic growth in the third quarter, even though new orders for transportation equipment fell. http://www.cnbc.com/id/45044666 773F6D6C-643A-4026-B624-EB5F0D08CE39 Wed, 26 Oct 2011 07:29:41 -0700 On a price-to-rent basis, the Composite 20 index is back to August 2000 levels, and the CoreLogic index is back to July 2000. http://www.calculatedriskblog.com/2011/10/real-house-prices-and-house-price-to.html 50C9ED9B-F918-4369-B91D-F18E63CA3656 Wed, 26 Oct 2011 07:18:22 -0700 The home-price winning streak for Los Angeles and Orange County ended in August, according to the latest reading of the Case-Shiller housing indexes. http://lansner.ocregister.com/2011/10/25/l-a-o-c-home-price-winning-streak-ends/138853/ 7B218C12-D01A-4D09-B630-FD56359CCFC1 Wed, 26 Oct 2011 07:16:57 -0700 A Los Angeles man was sentenced today by a Riverside County judge for grand theft in tricking nearly 2,500 homeowners, including many in Riverside County, to pay for copies of their grant deeds to prove ownership of their property. http://www.pe.com/business/business-insider-headlines/20111025-real-estate-man-sentenced-for-scamming-homeowners.ece F6A95446-1013-407C-974A-BF40CEC9A407 Wed, 26 Oct 2011 07:14:51 -0700 U.S. consumer confidence unexpectedly dropped in October to its lowest level in two-and-a-half years as consumers fretted about job and income prospects, according to a private sector report released on Tuesday. http://www.cnbc.com/id/45030057 1058161F-594E-401D-884C-2871558B23AF Tue, 25 Oct 2011 07:20:21 -0700 Home prices rose in August in half of major cities measured by a private survey, a sign that prices are stabilizing in some hard-hit portions of the country. http://www.cnbc.com/id/45029170 99B92390-587A-464A-9F58-A1B94B3028E9 Tue, 25 Oct 2011 07:19:12 -0700 When real estate markets slow down, and especially when mortgage financing becomes difficult to obtain, many buyers and sellers turn to lease options as a way to achieve their short-term real estate goals, while waiting for situations to become more conducive to engaging in a straightforward purchase or sale. http://realtytimes.com/rtpages/20111025_lease.htm 582E8EC4-C187-468D-8489-DE010E6C4A62 Tue, 25 Oct 2011 07:13:55 -0700 The California Regional Multiple Listing Service reported that total dollars generated from the sale of all Orange County homes fell last month to the lowest level for a September since 2007. http://lansner.ocregister.com/2011/10/25/september-home-sales-revenue-at-four-year-low/137923/ 3C66668D-2C42-487C-A4A6-A35918AF4725 Tue, 25 Oct 2011 07:00:06 -0700 The California Housing Finance Agency, which makes low-interest loans to first-time homebuyers, is taking an unusually strict and costly stand against borrowers who rent out their homes, foreclosing on some even though they are current on their mortgage payments, state overseers say in a new report. http://blogs.sacbee.com/capitolalertlatest/2011/10/report-cal-hfa-foreclosing-on-borrowers-current-on-loans.html B24F98D7-1002-4731-8FAF-A41DC633F745 Tue, 25 Oct 2011 06:54:09 -0700 This calls for a comprehensive approach to housing policy, starting with an urgent effort to remove the obstacles that make it difficult for all borrowers to refinance at today's low mortgage rates, but extending beyond this to tackle other problems weighing on housing. http://www.newyorkfed.org/newsevents/speeches/2011/dud111024.html 496B2C0E-3147-4AFC-A2BB-4E0F340A2678 Tue, 25 Oct 2011 06:48:28 -0700 A federal plan to help homeowners refinance their mortgages is expected to reach fewer than 1 million borrowers, too few to give a jolt to the struggling U.S. economy, lawmakers and analysts say. http://www.bloomberg.com/news/2011-10-21/u-s-mortgage-fixes-won-t-shock-and-awe-economy-analysts-say.html 74CD5F0B-1CCE-4C72-9870-69CEB500D831 Tue, 25 Oct 2011 06:43:56 -0700 "Unless we fix the negative equity problem, we're going to refinance all folks into lower rate mortgage, but fast forward a year or so from now and they're going to sit back at their dining room table and say, look I'm still underwater, and we may see defaults again." - Shari Olefson, attorney and mortgage expert http://www.cnbc.com/id/45021347 EAFB1719-6B11-424C-9E34-37B0E89460CF Mon, 24 Oct 2011 20:37:47 -0700 President Barack Obama will unveil new measures to help struggling U.S. homeowners Monday, in the first leg of a campaign-style swing through western states that may be crucial to his re-election in 2012. http://www.cnbc.com/id/45010718 3A00A825-4812-46B7-9F97-B0A3CD68F363 Mon, 24 Oct 2011 07:45:21 -0700 A leading U.S. housing regulator on Monday announced changes to a government refinancing program that could help up to one million homeowners whose homes are worth less than their mortgage. http://www.cnbc.com/id/45015690 402FC6B5-6901-46F0-8679-82ABEC93952D Mon, 24 Oct 2011 07:43:45 -0700 Housing markets in the Great Plains are showing the most signs of strength these days, according to a recent report from Veros, a risk management and valuation services firm. The weakest U.S. markets are in Nevada, inland areas of California, Washington and Oregon. http://www.marketwatch.com/story/where-home-values-will-rise-in-year-ahead-report-2011-10-21 5736114C-ED84-4C5A-8CDD-1E4DE6218879 Mon, 24 Oct 2011 07:37:50 -0700 For the 22 business days ending October 6, DataQuick reports the median home price was $425,000, 3.8% less than a year ago. There were a total of 2,505 homes sold during this period, down 2.0% from a year ago. http://www.ocregister.com/articles/county-323305-orange-latest.html E0F919CB-3FD0-4006-B802-937BBBD5A9EB Mon, 24 Oct 2011 07:29:26 -0700 In September sales of existing homes fell 3 percent nationwide, according to the National Association of Realtors. Builder Pulse credited National Association of Home on of Home Builders economist Peter Grist for the explanation. http://www.pe.com/business/business-insider-headlines/20111024-real-estate-investors-retreat-and-loan-denials-increase.ece 2600C25A-9877-4AAB-A201-F3B8252C8B08 Mon, 24 Oct 2011 07:25:29 -0700 Almost all bank websites will prominently disclose the fees they don't charge. Identifying the fees they do charge is much more difficult. http://www.cnbc.com/id/44988911 D6E8D548-95CB-4007-810D-20CB974DB0D2 Fri, 21 Oct 2011 13:51:57 -0700 A proposed overhaul of the U.S. tax system is catching fire among some Republican presidential candidates who see its potential to win over voters with its sheer simplicity, but there is skepticism among experts that a flat tax will prove a winning strategy. http://www.cnbc.com/id/44986461 081AE865-7D31-4E4C-84B2-DF932B4154A6 Fri, 21 Oct 2011 08:43:38 -0700 Regional and state unemployment rates were generally little changed in September. Twenty-five states recorded unemployment rate decreases, 14 states posted rate increases, and 11 states and the District of Columbia had no rate change, the U.S. Bureau of Labor Statistics reported today. http://www.calculatedriskblog.com/2011/10/state-unemployment-rates-little-changed.html 183B2651-A25E-484A-B707-727EABC91C59 Fri, 21 Oct 2011 08:42:50 -0700 The provision is part of a larger package of immigration measures, co-authored by Sens. Charles Schumer (D., N.Y.) and Mike Lee (R., Utah), designed to spur more foreign investment in the U.S. http://online.wsj.com/article/SB10001424052970203752604576641421449460968.html?mod=WSJ_RealEstate_LeftTopNews AE34DA32-3CC3-41A4-A96F-6AEA3A8D4DFF Fri, 21 Oct 2011 08:39:29 -0700 "Restoring the higher loan limits for the housing government sponsored enterprise and the FHA will provide home owners and home buyers with safe and affordable financing while providing a much-needed boost to housing markets all around the country." - Bob Nielsen, chairman of the National Association of Home Builders http://www.nahb.org/news_details.aspx?sectionID=148&newsID=13746 CC724E07-E77B-45BC-9181-E0C1BE2E42B6 Fri, 21 Oct 2011 08:37:08 -0700 FNC’s latest Residential Price Index, released Thursday, indicates U.S. home prices declined in August despite strong existing home sales during the month. http://www.fncresidentialpriceindex.com/press_releases.aspx?pr=35 F90EAE85-76F7-4ACC-8782-AA68516C9F7B Fri, 21 Oct 2011 08:21:20 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 4.11 percent with an average 0.8 point for the week ending October 20, 2011, down from last week when it averaged 4.12 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=70830 87FC9CA2-C272-4D42-9ABC-3BF2899D3F3E Thu, 20 Oct 2011 07:36:04 -0700 Existing-home sales were down in September on the heels of a strong gain in August, but remain well above a year ago, according to the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2011/10/ehs_sept 7B980329-902F-479B-85C6-08D8806BE140 Thu, 20 Oct 2011 07:34:53 -0700 The DOL reports in the week ending October 15, the advance figure for seasonally adjusted initial claims was 403,000, a decrease of 6,000 from the previous week's revised figure of 409,000. http://www.calculatedriskblog.com/2011/10/weekly-initial-unemployment-claims-4.html 5F1DE13B-4623-4C6F-ACF8-031BAC52B129 Thu, 20 Oct 2011 07:32:16 -0700 "Unemployment could be reduced by boosting demand in the economy, meaning if the Federal Reserve or the Congress did more to bolster consumption, more Americans would have jobs." - Federal Reserve Governor Daniel Tarullo http://www.cnbc.com/id/44972879 3DD9F783-151C-47BA-BE6A-B5003520C318 Thu, 20 Oct 2011 07:30:34 -0700 Studies over the past few years have shown a solid trend regarding home sizes. Buyers today want smaller homes with smaller price tags. During the boom era in the mid-2000's, homeownership was about McMansions and spacious sprawls. http://realtytimes.com/rtpages/20111020_smaller.htm DF134FBF-198F-4617-856A-E7AFCC22E5C2 Thu, 20 Oct 2011 07:28:56 -0700 The Republican presidential candidates let a great opportunity slip away during Tuesday night’s presidential debate to explain how they would address the nation’s housing problems in order to get the housing market and economy back on track, according to the National Association of Home Builders. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=13738 DFF8F46D-9BB4-4A75-B420-5785C93DD829 Thu, 20 Oct 2011 07:27:18 -0700 Short sales are gradually rising. This year, short sales are making up about 8% of total home sales, up from 7% in 2010, 5.5% in 2009 and 3% in 2008, said Mark Fleming, chief economist of CoreLogic, a provider of housing market data. http://www.marketwatch.com/story/why-it-can-pay-to-try-a-short-sale-2011-10-20 DBB72B54-3EF3-47A7-AAD3-C0333A2089B8 Thu, 20 Oct 2011 07:18:09 -0700 The average apartment in a large Orange County complex rented for $1,555 a month over the summer - $23 more than in the spring and up $63 in a year, according to apartment tracker RealFacts. http://lansner.ocregister.com/2011/10/19/apartment-rents-back-to-pre-recession-levels/135453/ 9C837BD7-78E4-4AFF-87DF-FB1A70B96CA2 Thu, 20 Oct 2011 07:14:57 -0700 Mortgage lenders and home builders in Inland Southern California report that over the last year they have started to see a considerable number of loan applicants with records of foreclosures and short sales where they sold their homes for less than enough to pay off their mortgage. http://www.pe.com/business/business-headlines/20111018-real-estate-foreclosure-veterans-return-to-the-housing-market.ece 5CC6D66C-77CD-4E13-A919-23585A9B99BB Thu, 20 Oct 2011 07:12:32 -0700 "People don’t expect their home to regain value, and that’s really led to a change in consumer attitudes about the economy that we’ve just never seen before," said Richard Curtin, a professor of economics at the University of Michigan who directs its Survey of Consumers. http://www.cnbc.com/id/44956234 16146179-9AF5-456B-922C-1CFAD99C465F Wed, 19 Oct 2011 10:30:18 -0700 The Census Bureau reports privately-owned housing starts in September were at a seasonally adjusted annual rate of 658,000. This is 15.0 percent (±13.7%) above the revised August estimate of 572,000 and is 10.2 percent (±13.3%)* above the September 2010 rate of 597,000. http://www.calculatedriskblog.com/2011/10/housing-starts-increased-in-september.html 53FFFD74-8009-4D8A-9B60-33DF8F9FDCA6 Wed, 19 Oct 2011 10:23:42 -0700 The MBA reports the seasonally adjusted Purchase Index decreased 8.8 percent from one week earlier and is at the lowest level in the survey since December 1996. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78221.htm BFA9CB96-D06D-41A0-B215-49458A9F0277 Wed, 19 Oct 2011 10:18:32 -0700 Canada's trade minister said Tuesday he's concerned about comments by the U.S. ambassador to Canada defending the "Buy American" provisions in President Barack Obama's jobs bill. http://finance.yahoo.com/news/Canada-objects-to-Buy-apf-2753357732.html?x=0&.v=1 86581424-EEFB-44B6-A7DD-29D6E017B702 Tue, 18 Oct 2011 22:15:30 -0700 The latest Orange County home inventory report from local broker Steve Thomas estimates that the local market’s speed quickened 4.0% in the past two weeks and is 15.9% faster than a year ago. http://lansner.ocregister.com/2011/10/18/market-for-o-c-homes-speeds-up-16/135043/ 107FE141-8280-4D52-9C27-97F76660F1C0 Tue, 18 Oct 2011 22:12:10 -0700 Calculating the size of the shadow market has proved difficult, and estimates range from 1.6 million to 7 million homes. http://www.calculatedriskblog.com/2011/10/housing-comment-on-shadow-inventory.html B20D019B-2106-41B3-9AE6-93A62386DF6C Tue, 18 Oct 2011 22:09:15 -0700 After dropping to a three-year low in the second quarter of this year, the number of California homeowners being pulled into the foreclosure process snapped back to prior levels over the last three months, a real estate information service reported. http://www.dqnews.com/Articles/2011/News/California/CA-Foreclosures/RRFor111018.aspx 23A9B1EA-D630-46F1-83B8-6569F91DB55E Tue, 18 Oct 2011 22:02:09 -0700 Bank of America reported a third-quarter profit, helped by accounting gains and asset sales, though the bank's main businesses showed signs of weakness as lending profit fell and expenses rose. http://www.cnbc.com/id/44931257 F114FF94-7ADB-4BD5-9D7F-28FFF1092D97 Tue, 18 Oct 2011 08:18:38 -0700 According to RealtyTrac Inc., there has been a "dramatic shift" in banks’ willingness sell a property for less than the mortgage balance to avoid foreclosing - short sales, typically change hands at a discount of about 20 percent to homes not in financial distress, compared with a 40 percent price cut for bank-owned homes. http://mobile.bloomberg.com/news/2011-10-18/home-short-sales-rise-in-dramatic-shift-that-may-boost-u-s-house-prices A8CA7338-4DC3-43B1-8D5C-081624F11AA5 Tue, 18 Oct 2011 08:14:25 -0700 Freddie Mac reports a net increase of 1.4 million households that moved into rental housing, a 4 percent rise in the number of tenant households in just one year. http://freddiemac.mediaroom.com/index.php?s=12329&item=70575 D753CEF2-94CD-4B3B-98ED-1A73AF82309A Tue, 18 Oct 2011 08:08:06 -0700 Builder confidence in the market for newly built, single-family homes rose four points to 18 on the National Association of Home Builders/Wells Fargo Housing Market Index for October, which was released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=13717 19BF1DE3-D176-4E46-864F-A867813FFE3E Tue, 18 Oct 2011 08:04:49 -0700 Bruce Norris, President of The Norris Group, a real estate investment company, said the banks’ procrastination accounts for delinquent homeowners staying in their houses for up to two years without making any mortgage payments and without being evicted. http://www.pe.com/business/business-insider-headlines/20111018-real-estate-a-better-way-to-clear-out-bad-mortgages.ece C22452B7-A6B7-4E8C-9F9A-4C7F7D5F81A3 Tue, 18 Oct 2011 08:01:49 -0700 "The majority of post-foreclosure migrants do not end up in substantially less desirable neighborhoods or more crowded living conditions. These results suggest that, on average, foreclosure does not impose an economic burden large enough to reduce housing consumption." - Fed Report http://www.pe.com/business/business-insider-headlines/20111017-real-estate-many-families-do-not-see-living-situation-severely-harmed-by-foreclosure.ece ABD39B71-F79C-4F59-8EFE-94CEE0AC6A36 Tue, 18 Oct 2011 07:58:08 -0700 The Obama administration has been exploring options including amending the tax code to allow homeowners who have 401(k) retirement plans to pull out money to save their houses from foreclosure without the usual tax penalties. http://www.latimes.com/business/realestate/la-fi-harney-20111016,0,6538730.story 991E922E-7C03-4069-A77C-3966268738D4 Tue, 18 Oct 2011 07:52:22 -0700 Overall, Los Angeles County office vacancy rose slightly to 19% from 18.5% in the third quarter last year, according to brokerage Cushman & Wakefield. The average rent landlords asked for was $2.47 a square foot per month, down from $2.56. http://www.latimes.com/business/realestate/la-fi-commre-overview-20111016,0,6490508.story 4205E83F-136E-41E3-8ACA-4CBC98F879DA Tue, 18 Oct 2011 07:49:14 -0700 President Barack Obama will urge Congress to get to work this week on passing pieces of his larger, now-defunct jobs bill during a three-day bus tour through North Carolina and Virginia, two southern states that will be critical to his re-election campaign. http://finance.yahoo.com/news/Obama-seeks-action-on-jobs-apf-2191915407.html?x=0&.v=4 9AE804BA-2E69-47A5-A537-8121B2D290F9 Mon, 17 Oct 2011 07:48:30 -0700 DataQuick reports an estimated 35,404 new and resale houses and condos were sold statewide last month. That was down 6.2 percent from 37,734 in August, and up 6.7 percent from 33,176 for September 2010. http://www.dqnews.com/Articles/2011/News/California/RRCA111014.aspx 1A759D4E-48F5-4F53-8DB7-EB9F3030BAE4 Mon, 17 Oct 2011 07:40:02 -0700 U.S. industrial production rose 0.2 percent in September, in line with expectations, as a gain in manufacturing offset a drop in utility output, a Federal Reserve report showed Monday. http://www.cnbc.com/id/44929367 46CDA71B-5B48-4083-A86D-2F462277C256 Mon, 17 Oct 2011 07:26:05 -0700 Launched in 2010 but becoming fully operational only at the first of this year, the website works much like Groupon, LivingSocial and others that negotiate deep discounts with restaurants, merchants and other businesses and then sell vouchers to people wanting to take advantage of the deals. http://www.chicagotribune.com/classified/realestate/buy/sc-cons-1013-housing-coupons-20111014,0,1002449.story F7A1E312-A691-44A0-851F-E4F77C403106 Mon, 17 Oct 2011 07:23:55 -0700 There were more than 2.19 million homes listed for sale at the end of September, down 20% from a year earlier, according to a new report from the real-estate website Realtor.com. http://online.wsj.com/article/SB10001424052970204774604576631381117760982.html 96B1CD3E-4C03-45E1-84BB-E1C0F89BC915 Mon, 17 Oct 2011 07:16:00 -0700 U.S. consumer sentiment unexpectedly slumped in early October as worries about declining incomes drove consumer expectations back down to the lowest level in more than 30 years, a survey released Friday showed. http://www.cnbc.com/id/44902710 8320F1AF-4570-46A5-8211-61F8460C3C77 Fri, 14 Oct 2011 07:25:43 -0700 Banks are shedding jobs worldwide as stricter regulations and a tough second quarter for trading income take their toll on investment banking units in particular. http://www.cnbc.com/id/44892356 DE5F3670-B766-467A-871B-DCC82D8DEF7F Fri, 14 Oct 2011 07:23:34 -0700 "Continuing government participation in the secondary mortgage market is critical to ensuring that qualified home buyers can obtain safe and sound mortgage financing products even during market downturns, when private entities have historically pulled back." - Moe Veissi, NAR President-Elect http://www.realtor.org/press_room/news_releases/2011/10/government_and_homeownership 192BCC05-AE58-4505-AFCF-A13238113FCF Fri, 14 Oct 2011 07:12:55 -0700 Southern California home sales dropped last month from August, as they normally do, and eked out a tiny gain from a year earlier as bargain hunting below $300,000 remained relatively strong. http://www.dqnews.com/Articles/2011/News/California/Southern-CA/RRSCA111013.aspx 85D9CC29-77AB-424A-8EDC-39D67BC7856B Thu, 13 Oct 2011 21:44:33 -0700 House Speaker John Boehner and President Barack Obama talked about jobs legislation in a 10-minute phone call Thursday. Boehner told Obama that Republicans are willing to address new transportation and infrastructure spending but "in a fiscally responsible way." http://finance.yahoo.com/news/Boehner-Obama-talk-jobs-as-apf-3348880992.html?x=0&.v=17 364A6180-BDE7-4A41-A19B-6D5B0B26E504 Thu, 13 Oct 2011 21:41:46 -0700 "What we have been saying for quite a while is that even though there is a high unemployment rate, it's very difficult to find skilled people," said Jeff Owens, president of ATS, a manufacturing consulting services company. http://www.cnbc.com/id/44888058 CAB02DC6-3A2C-4595-95EA-4550748B6A8F Thu, 13 Oct 2011 07:31:30 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 4.12 percent with an average 0.8 point for the week ending October 13, 2011, up from last week when it averaged 3.94 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=68931 73CF0580-4812-4EC9-998C-58AEF282F809 Thu, 13 Oct 2011 07:29:48 -0700 The number of people applying for unemployment benefits fell slightly last week, a sign the job market isn't getting much better. Applications ticked down by 1,000 to a seasonally adjusted 404,000, the Labor Department said Thursday. http://finance.yahoo.com/news/Applications-for-unemployment-apf-2329680643.html?x=0&.v=7 EF189B16-D659-4E47-ADBD-1D77FCD32946 Thu, 13 Oct 2011 07:28:26 -0700 Beazer Homes USA Inc. said on Thursday that new home orders jumped 33 percent in its fiscal fourth-quarter compared with the same period a year earlier, while home closings rose 23 percent. http://finance.yahoo.com/news/Beazer-says-fiscal-4Q-home-apf-605774711.html?x=0&.v=1 B4E56403-15E2-42FF-B1B2-29E4B3544FEE Thu, 13 Oct 2011 07:26:39 -0700 Orange County foreclosures dipped in September, with lenders seizing the third lowest number of delinquent homes in the past 13 months, the data firm ForeclosureRadar reported this week. http://lansner.ocregister.com/2011/10/13/foreclosures-down-28-in-september/132803/ 894E5A8D-8873-4F85-84CA-5B343DF12F10 Thu, 13 Oct 2011 07:20:22 -0700 Bank seizures of U.S. homes fell in the third quarter but an upswing in default notices suggests foreclosures could start to rise again, a report by RealtyTrac said on Thursday. http://www.cnbc.com/id/44885244 483BDA9E-C6F3-42CD-B142-49438E87FA89 Wed, 12 Oct 2011 22:37:27 -0700 As part of Herman Cain's 9-9-9 proposal, he says he is the only one who wants to junk the current system altogether and come up with a simpler way that everyone can understand. http://www.cnbc.com/id/44871879 A11C2DB1-7F4F-46CC-BEB4-A335F92F81D8 Wed, 12 Oct 2011 07:53:16 -0700 The BLS reports the number of job openings in August was 3.1 million, little changed from July. Although the number of job openings remained below the 4.4 million openings when the recession began in December 2007, the level in August was 944,000 higher than in July 2009. http://www.calculatedriskblog.com/2011/10/bls-job-openings-little-changed-in.html 0096B5A7-C8F8-4CAA-B0BB-87BDA6B29F08 Wed, 12 Oct 2011 07:51:00 -0700 The Refinance Index increased 1.3 percent from the previous week. The seasonally adjusted Purchase Index increased 1.1 percent from one week earlier. http://www.mbaa.org/NewsandMedia/PressCenter D868B030-9E2E-4F6B-95C5-32320F69A9C7 Wed, 12 Oct 2011 07:48:26 -0700 After a significant jump in foreclosure starts in August, driven primarily by Bank of America, foreclosure starts returned to levels in line with prior months, far below the numbers reached at the peak. http://www.calculatedriskblog.com/2011/10/report-foreclosure-starts-declined-in.html 0F6D6B36-F809-44C9-AD6C-D9613F3F0352 Wed, 12 Oct 2011 07:47:23 -0700 Mortgage rates will continue to remain near lows for the year ahead, while home prices are expected to remain flat, the Mortgage Bankers Association’s chief economist said on Tuesday. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78185.htm 84FB1E7A-B9E4-4FCA-B44F-9654BCB12212 Wed, 12 Oct 2011 07:44:14 -0700 The average apartment in a large Orange County apartment complex rented for $1,528 a month in the summer quarter, apartment tracker MPF Research reported this week. http://lansner.ocregister.com/2011/10/12/o-c-apartment-rent-still-climbing/131913/ 72EBC8B6-5C7B-4FA0-807F-59BE18C7FBAF Wed, 12 Oct 2011 07:41:06 -0700 Housing tracker Veros sees Orange County’s home prices - median selling price for mid-priced single-family homes, for this argument - falling 1 percent in the year to end in September 2012, slightly better than the projected national price pace, a loss of 1.7 percent! http://lansner.ocregister.com/2011/10/11/forecast-o-c-home-prices-to-dip-1/131213/ C997228A-7AD7-4AB1-B5F0-3A474548F8A3 Wed, 12 Oct 2011 07:39:33 -0700 The U.S. Senate defeated President Barack Obama's job-creation package Tuesday in a sign that Washington is likely too paralyzed to take major steps to spur hiring before the 2012 elections. http://www.cnbc.com/id/44857589 D275FBEC-CA9A-4037-89A4-4F8BDC2A3916 Tue, 11 Oct 2011 16:46:21 -0700 President Barack Obama's jobs bill, facing a critical test in the Senate, appears likely to die at the hands of Republicans opposed to stimulus spending and a tax surcharge on millionaires. http://www.cnbc.com/id/44857589 0248A88B-20D6-4A4F-A5D4-E666046149C5 Tue, 11 Oct 2011 07:57:19 -0700 Decrying the human toll of the nation's economic and financial crisis, a group of corporate and labor leaders advising President Barack Obama is calling for sweeping and urgent changes in government policies, from liberalized immigration and less restrictive regulations to a more business friendly tax system and greater spending on infrastructure. http://www.cnbc.com/id/44856887 136E8746-13C0-4A27-80FC-16553686A3C8 Tue, 11 Oct 2011 07:54:27 -0700 Protesters demanded relief for struggling homeowners, including loan-principal reduction for those underwater on their mortgages, said Tracy Van Slyke, co-director of New Bottom Line, a campaign that challenges big bank interests on behalf of struggling and middle-class communities. http://www.marketwatch.com/story/protesters-rally-at-mortgage-bankers-convention-2011-10-10 6C7A06A6-0739-49E7-8E1D-99AAB731DC41 Tue, 11 Oct 2011 07:46:12 -0700 Consumer expectations for U.S. home prices worsened significantly in September to register their weakest outlook in more than a year, according to a monthly survey from mortgage market enterprise Fannie Mae. http://blogs.wsj.com/developments/2011/10/10/survey-finds-a-gloomy-outlook-on-home-prices/?mod=WSJBlog&mod=WSJ_Real%20Estate_BLOGSDEVELOPMENTSFEED A4509CCF-9C27-4345-B8F9-B02C8E911989 Mon, 10 Oct 2011 22:54:55 -0700 With little notice, Bernanke seemed to buck conventional wisdom and suggest that the Fed can- and indeed should -try to influence the long-run unemployment rate. http://www.cnbc.com/id/44819836 2315367A-547E-47BC-BEDB-C276146828BA Mon, 10 Oct 2011 11:42:28 -0700 In a grim sign of the enduring nature of the economic slump, household income declined more in the two years after the recession ended than it did during the recession itself, new research has found. http://www.nytimes.com/2011/10/10/us/recession-officially-over-us-incomes-kept-falling.html?_r=1 84B5E1B2-A66C-4078-9FA3-970CF80B5851 Mon, 10 Oct 2011 08:02:06 -0700 While the nation may have added 103,000 new jobs in September, the employment report showed relative weakness, particularly as it relates to the residential construction sector, which remains far below its job-creation potential in the absence of policies to restore the health of the housing marketplace, according to the National Association of Home Builders. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=13654 6D8A66DC-DD84-4A44-AE23-38D7FD5795AB Mon, 10 Oct 2011 07:59:43 -0700 Up to two million people are planning to jump into the housing market - when the time is right, according to a report released this week. http://www.marketwatch.com/story/millions-waiting-for-right-time-to-buy-a-home-2011-10-07 815E92DB-8F0E-4F40-AEB5-8B2CA8C41127 Mon, 10 Oct 2011 07:40:21 -0700 Combined, total homes sales in ZIPs in the north and mid-section of Orange County were +7.3% vs. a year ago as homebuying the rest of the county ran +5.3% vs. 12 months earlier. http://lansner.ocregister.com/2011/10/09/homebuying-up-in-all-corners-of-o-c/129733/ 484F54B5-6362-4CF3-898F-AE0851BACA0C Mon, 10 Oct 2011 07:38:39 -0700 The nation’s largest banks are luring a select number of San Diego County homeowners to complete short sales with the promise of cash, in some cases as much as $35,000 for each deal. http://www.signonsandiego.com/news/2011/oct/08/banks-offer-cash-troubled-homeowners-completed-sho/ 57D6CDC0-CA4D-4915-BCA1-A41FCC0894F2 Mon, 10 Oct 2011 07:35:01 -0700 The percentage of Americans who owned their homes has seen its biggest decline since the Great Depression, according to the U.S. Census Bureau. http://money.cnn.com/2011/10/07/real_estate/home_ownership/index.htm?hpt=hp_t2 933251DD-2366-4E46-B26D-13F2626AFDD8 Mon, 10 Oct 2011 07:24:25 -0700 After five consecutive years of job losses for residential construction (and four years for total construction), it looks like construction employment will increase this year. http://www.calculatedriskblog.com/2011/10/construction-employment.html EBC1B16E-5228-45BE-8B62-E7DBC84758AB Mon, 10 Oct 2011 07:20:51 -0700 Nonfarm payroll employment edged up by 103,000 in September, and the unemployment rate held at 9.1 percent, the U.S. Bureau of Labor Statistics reported today. http://www.calculatedriskblog.com/2011/10/september-employment-report-103000-jobs.html 3E52056F-61CF-44BF-91BD-16FEB55333CE Fri, 7 Oct 2011 07:57:19 -0700 Eliminating or curtailing the mortgage interest deduction would have a disproportionate impact on younger, middle-class families, who would see their ability to become home owners significantly diminished, with sober implications for their longer term financial prospects, the National Association of Home Builders (NAHB) told Congress today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=13651 545D8816-E3C5-40BA-9FE9-A63EB0E3F3C8 Fri, 7 Oct 2011 07:50:49 -0700 NAR is pleased that a range of witnesses testifying at the committee’s hearing on tax incentives for homeownership reinforced the message Realtors® have been delivering to Washington: do no harm. http://www.realtor.org/press_room/news_releases/2011/10/preserving_home_ownership CAC8AD89-4F42-4216-A9CF-55B42A54C352 Fri, 7 Oct 2011 07:46:31 -0700 In the latest indication, Bank of America Corp. is closing 40 former Countrywide mortgage offices, firing hundreds of loan officers. http://latimesblogs.latimes.com/money_co/2011/10/mortgage-rates-freddie-says.html 7F86AC83-F500-4812-A20B-DBF6D22DAE9D Fri, 7 Oct 2011 07:36:17 -0700 President Barack Obama launched an onslaught against banks on Thursday over rising fees and efforts to block financial reform, tapping into public anger to garner support for his 2012 re-election campaign. http://www.cnbc.com/id/44802936 ACAEA942-84DC-4154-84D6-A399A0A40E52 Thu, 6 Oct 2011 13:05:43 -0700 While the biggest rivals on Wall Street share a common disdain for new constraints on financial risk-taking, they’re fighting over exactly how to tame the sprawling regulatory overhaul. http://www.cnbc.com/id/44800313 560339F1-7AE5-4C3B-B3DE-D9A467029E92 Thu, 6 Oct 2011 08:43:52 -0700 Freddie Mac today released the results of its Primary Mortgage Market Survey® showing the average rate for the conventional 30-year fixed mortgage dropping below 4 percent for the first time in history amid increasing global economic concerns. http://freddiemac.mediaroom.com/index.php?s=12329&item=67261 D4596D50-E6B3-41A7-9D6E-68F747ABFD36 Thu, 6 Oct 2011 08:39:12 -0700 CoreLogic reports its August Home Price Index decreased 0.4 percent on a month-over-month basis, the first monthly decline in four months. http://www.calculatedriskblog.com/2011/10/corelogic-home-price-index-declined-04.html 5B0F6700-B243-41B2-A726-1BE19C505D45 Thu, 6 Oct 2011 08:36:47 -0700 The DOL reports in the week ending October 1, the advance figure for seasonally adjusted initial claims was 401,000, an increase of 6,000 from the previous week's revised figure of 395,000. http://www.calculatedriskblog.com/2011/10/weekly-initial-unemployment-claims.html 5B11E819-AF2F-413B-BAAE-3237C5BB1180 Thu, 6 Oct 2011 08:33:53 -0700 Senate Democrats are scrambling to rewrite portions of President Barack Obama's jobs bill, even as Obama tries to blame Republicans for Congress' failure to act. http://www.cnbc.com/id/44784143 0002A9FF-C40C-434C-97EA-E121AAF702C5 Wed, 5 Oct 2011 08:12:32 -0700 Growth in the vast U.S. services sector slowed modestly in September as a contraction in employment eclipsed a jump in new orders, data showed on Wednesday. http://www.cnbc.com/id/44785795 E63BE259-D468-4770-A969-CB9620299B68 Wed, 5 Oct 2011 08:00:49 -0700 According to today’s ADP National Employment Report, employment in the nonfarm private business sector rose 91,000 from August to September on a seasonally adjusted basis. Employment in the private, service-providing sector rose 90,000 in September, up slightly from an increase of 83,000 in August. http://www.calculatedriskblog.com/2011/10/adp-private-employment-increased-91000.html D61E3EA5-AC58-46FE-A0CE-EE14830A5974 Wed, 5 Oct 2011 07:59:35 -0700 The MBA reports refinance Index decreased 5.2 percent from the previous week. The seasonally adjusted Purchase Index decreased 0.8 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78131.htm F130232B-F1F2-4E9B-895D-FEA57E32E35F Wed, 5 Oct 2011 07:49:09 -0700 We need to keep housing first on the nation’s public policy agenda, because housing and homeownership issues affect all Americans, and a housing recovery is necessary for the nation’s economic well-being. http://www.realtor.org/press_room/news_releases/2011/10/housing_priority 702B0032-7FEC-4B0E-A03D-9EF1D5588A43 Wed, 5 Oct 2011 07:47:22 -0700 A proposed $20 billion settlement to compensate homeowners for the foreclosure robo-signing scandal was "nowhere near" adequate, California Attorney General Kamala Harris told reporters Tuesday. http://lansner.ocregister.com/2011/10/05/calif-prosecutor-lenders-wont-get-off-easy/128003/ 3C1B9B73-AEC5-424E-8FF4-CED423ADDE1C Wed, 5 Oct 2011 07:42:09 -0700 The U.S. economy is still suffering from a "shocking" drop in homeowners' equity and reforms are needed in how mortgage loans are originated and handled, Federal Reserve Governor Sarah Bloom Raskin said on Tuesday. http://finance.yahoo.com/news/Feds-Raskin-Need-reforms-in-rb-3069045129.html?x=0&.v=3&.pf=real-estate&mod=pf-real-estate 0ABD71D2-0026-448C-857A-A9A7774AC5B3 Wed, 5 Oct 2011 07:34:36 -0700 The Federal Reserve is prepared to take further steps to help an economic recovery that is "close to faltering", Fed Chairman Ben Bernanke said Tuesday. http://www.cnbc.com/id/44771119 1BF089CB-5A4C-448E-BA84-C0A37FF1D155 Tue, 4 Oct 2011 08:43:09 -0700 President Barack Obama is turning to Republican rival Rick Perry's home state to rally support for his $447 billion jobs bill and to raise money for his re-election. http://finance.yahoo.com/news/Obama-to-tout-jobs-bill-on-apf-1299773999.html?x=0&.v=1 AE0B7190-2E7B-4BE3-A699-680D5D20F552 Tue, 4 Oct 2011 08:41:29 -0700 New orders for U.S. factory goods fell in August for the second time in three months, suggesting a possible softening in the manufacturing sector which has carried the economic recovery. http://www.cnbc.com/id/44771097 559E7129-62CC-4365-A1F4-38F60CDDF776 Tue, 4 Oct 2011 08:40:23 -0700 Barack Obama blasted Bank of America's plan to charge $5 a month for debit card purchases. "This is exactly why we need somebody who's sole job it is to prevent this kind of stuff from happening." - Obama http://www.cnbc.com/id/44770831 7541EEA8-0CF8-4C53-97BA-CD771A928C84 Tue, 4 Oct 2011 08:32:57 -0700 The August Mortgage Monitor report released by Lender Processing Services, Inc. shows that foreclosure starts were up in August by nearly 20 percent compared to July 2011 results, with first-time foreclosure starts reaching 2011 highs. [Note: Fannie Mae reported lower delinquencies in Aug] http://www.lpsvcs.com/LPSCorporateInformation/NewsRoom/Pages/20111003.aspx DED4A7BB-83C7-48FD-96F9-7B82CAE99828 Tue, 4 Oct 2011 08:26:00 -0700 Millions of current and former homeowners will have a chance to get their foreclosure cases examined to determine whether they should be compensated for banks' mistakes, under a wide-ranging review being planned by federal regulators. http://online.wsj.com/article/SB10001424052970203791904576609310331811594.html?mod=WSJ_RealEstate_LeftTopNews 68C78C99-41AB-4555-B503-EA289518DD57 Tue, 4 Oct 2011 08:21:21 -0700 Bond markets rallied and Mortgage Rates continued to improve. Most of the gains were seen in the form of lower borrowing costs today, but some of you may see another eighth lower in rate. On average, rates are in line with all time lows. http://www.mortgagenewsdaily.com/consumer_rates/231260.aspx 7217A8D2-C167-4094-B734-E433C7BB6689 Tue, 4 Oct 2011 08:19:00 -0700 CoreLogic estimated that the total value of U.S. mortgages tainted by fraud will drop 40% this year to $7.4 billion. That compares $12 billion worth of fraudulent loans issued in 2010, the firm reported. http://lansner.ocregister.com/2011/10/04/mortgage-fraud-down-40-this-year/127543/ B44965CC-BF43-4B96-BDA3-B25A6719E452 Tue, 4 Oct 2011 08:13:28 -0700 Sellers of Orange County’s more affordable homes pushed their collection asking prices to a 29-month low, according to HousingTracker.net. http://lansner.ocregister.com/2011/10/03/low-end-homesellers-asking-for-09-prices/127293/ 99774280-BE68-4B51-B714-6401C771158B Tue, 4 Oct 2011 08:10:48 -0700 The Housing Department, which had to approve the applications for the Emergency Homeowners' Loan Program by Friday, expects that only 10,000 to 15,000 people will qualify. That's only a small sliver of the roughly 100,000 who applied. http://money.cnn.com/2011/10/03/news/economy/mortgage_unemployed/index.htm?iid=Lead 53A105CF-93EC-4EEE-91D9-E4A399750C3B Tue, 4 Oct 2011 08:03:09 -0700 Low appraisals continue to block people from selling homes or refinancing mortgages, leaving many sellers and real estate agents unhappy. http://www.mercurynews.com/real-estate/ci_19005780?nclick_check=1 D422157F-A62C-4EE5-8E52-A068E4AB34C4 Tue, 4 Oct 2011 07:59:41 -0700 The U.S. Census Bureau of the Department of Commerce announced today that construction spending during August 2011 was estimated at a seasonally adjusted annual rate of $799.1 billion, 1.4 percent above the revised July estimate of $788.3 billion. http://www.calculatedriskblog.com/2011/10/construction-spending-increased-in.html 1145B5A1-D69C-43BD-83C6-B7937497F60A Mon, 3 Oct 2011 08:56:07 -0700 U.S. factory activity expanded at a faster pace than expected in September as production and hiring increased, the latest sign of resilience in manufacturing despite faltering economic growth. http://www.cnbc.com/id/44756495 F4AF1AAD-8CA3-495A-820E-AEDF0E7A6A9B Mon, 3 Oct 2011 08:54:25 -0700 U.S. inflation will drop towards 2 percent, Richard Fisher, Dallas Federal Reserve Bank president, told CNBC Monday. http://www.cnbc.com/id/44755271 EAC26229-DC57-4A5C-90AA-7BE0E69FD8BF Mon, 3 Oct 2011 08:52:33 -0700 Home prices are unlikely to recover before 2020 and mortgage defaults will persist for years, says a survey of bank risk managers out Friday. http://www.cnbc.com/id/44735283 4CC88AFB-31A0-4E10-B5C2-E6B0F754FFF6 Mon, 3 Oct 2011 08:50:28 -0700 California Atty. Gen. Kamala Harris will no longer take part in a national foreclosure probe of some of the nation's biggest banks, which are accused of pervasive misconduct in dealing with troubled homeowners. http://latimesblogs.latimes.com/money_co/2011/09/california-atty-gen-kamala-harris-breaks-from-national-foreclosure-probe.html 36CC606A-8A02-4870-9B05-BAF71B24AD9A Mon, 3 Oct 2011 08:45:50 -0700 Fannie Mae reported that the Single-Family Serious Delinquency rate declined to 4.03% in August. This is down from 4.08% in July, and down from 4.75% in August of 2010. http://www.calculatedriskblog.com/2011/09/fannie-mae-and-freddie-mac-serious.html B687DC5A-DDB5-44FF-A6A2-458D0C3D9326 Mon, 3 Oct 2011 08:43:57 -0700 U.S. consumer sentiment improved in late September, but worries persisted about jobs and finances which could curb household spending in the coming months, a private survey released Friday showed. http://www.cnbc.com/id/44729456 E351B7DA-A4BF-472B-9A48-94039C43E69B Fri, 30 Sep 2011 07:32:31 -0700 Americans earned less last month, the first decline in nearly two years. With less income, consumers could cut back on spending and weaken an already-fragile economy. http://finance.yahoo.com/news/US-incomes-fall-for-first-apf-2987702038.html?x=0&.v=6 6C5C0E31-41B2-4961-BACE-5B9776E60040 Fri, 30 Sep 2011 07:30:48 -0700 One in five homeowners whose mortgages were modified under a program aimed at reducing foreclosures defaulted again within a year after their payments were cut, the U.S. Comptroller of the Currency reported today. http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/09/29/bloomberg_articlesLSAM2U6S972C.DTL 2CC2377D-172A-4117-8961-A08C1BAFB20E Fri, 30 Sep 2011 07:26:59 -0700 The nation’s mortgage lenders modified fewer mortgages to help keep delinquent borrowers in their homes this past summer, even though mortgage starts and sales increased, a new survey shows. http://mortgage.ocregister.com/2011/09/30/fewer-loan-modifications-completed/48523/ DE26D36E-3EAF-42DF-A4C2-CC2A3C3D9416 Fri, 30 Sep 2011 07:19:44 -0700 It will take three to five years for the California housing market to clear its backlog of defaulting homes that continue to be a drag on housing prices, the chief economist of the California Association of Realtors has said during a recent conference call. http://lansner.ocregister.com/2011/09/29/foreclosure-bubble-could-last-5-more-years/123198/ 9673138F-BE63-4932-950B-CBC18CE843A5 Fri, 30 Sep 2011 07:17:30 -0700 Mortgage fraud reports to the Treasury Department jumped 88% in the second quarter - mainly because banks are reexamining loans from the housing boom and finding problems. http://www.latimes.com/business/la-fi-mortgage-fraud-20110929,0,2376540.story CD57561F-3F18-41F9-88FF-48FEE55EBEDF Fri, 30 Sep 2011 06:13:21 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 4.01 percent with an average 0.7 point for the week ending September 29, 2011, down from last week when it averaged 4.09 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=66434 9A5171D4-ADD8-44CD-B302-3E07F04A53C4 Thu, 29 Sep 2011 07:49:10 -0700 Pending home sales slipped in August with a mixed regional performance but are higher than a year ago, according to the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2011/09/phs_august E0FA7316-54E3-45BB-BBA1-9DA8DED63BEE Thu, 29 Sep 2011 07:32:51 -0700 Ben Bernanke no longer would be the Federal Reserve chairman and the central bank would be out of the money-printing business under a Rick-Perry-run White House, the Texas governor told CNBC. http://www.cnbc.com/id/44714589 7614C182-9526-4D82-A763-8F89784D7A73 Thu, 29 Sep 2011 07:01:23 -0700 The DOL reports in the week ending September 24, the advance figure for seasonally adjusted initial claims was 391,000, a decrease of 37,000 from the previous week's revised figure of 428,000. http://www.calculatedriskblog.com/2011/09/weekly-initial-unemployment-claims_29.html 1AA47302-4620-453F-A2C0-FCB0C786D9C6 Thu, 29 Sep 2011 06:54:51 -0700 DataQuick reports for the 22 business days ending Sept. 8, 162 homes were bought in the the South Coast region - up 10% vs. a year ago. http://southcoasthomes.ocregister.com/2011/09/28/south-coast-home-sales-faring-better-over-year/ 0C67F4A3-1300-4853-B7E9-20D19CB6EA0F Thu, 29 Sep 2011 06:44:20 -0700 Bank of America’s potential liability for bad mortgages - in the tens of billions of dollars - is well known. But Bank of America is haunted by other demons from the financial crisis, the most significant one being a lawsuit arising from its troubled Merrill Lynch acquisition. http://www.cnbc.com/id/44700101 EF2FECF0-C78B-48D9-B659-5FCB1BED83D1 Wed, 28 Sep 2011 07:53:37 -0700 The MBA reports the Refinance Index increased 11.2 percent from the previous week. The seasonally adjusted Purchase Index increased 2.6 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78039.htm 3E0B45D7-433E-44D7-8350-8D42447C0EDE Wed, 28 Sep 2011 07:36:17 -0700 Homes in foreclosure -- or headed into foreclosure -- are being sold at a fast enough clip to chip away at the so called "shadow inventory" that hangs over the U.S. market, Santa Ana data provider CoreLogic reported Tuesday. http://latimesblogs.latimes.com/money_co/real_estate/ 5D53A29E-CC46-4687-9C1A-357131950190 Wed, 28 Sep 2011 07:29:17 -0700 The change will result in higher costs and bigger down payments for many home buyers. In California, real estate professionals are bracing for a hard hit as buyers learn they may no longer be able to afford the higher-priced homes they had been considering. http://www.latimes.com/business/la-fi-loan-limits-20110927,0,7797548.story 7E982334-1A3B-4F87-AFDA-0AAC1C142E49 Wed, 28 Sep 2011 07:26:50 -0700 Consumers' confidence in the economy remained weak in September after dropping to a post-recession low during the month before as Americans continue to worry about high unemployment and low wages. http://www.cnbc.com/id/44685063 C6D4B391-A4AB-4586-BC5A-6C4D5FED5D3D Tue, 27 Sep 2011 07:59:33 -0700 Home prices in Los Angeles and Orange counties rose for the fourth consecutive month in July, as measured by the widely watched Case-Shiller indexes. http://lansner.ocregister.com/2011/09/27/4th-straight-gain-for-laoc-home-prices/125233/ 55DFBA0C-68A8-47E4-88E0-F17C5D6ED12F Tue, 27 Sep 2011 07:47:36 -0700 Landlords and their agents need to be aware of how they may be affected by new requirements imposed upon them by the Fair Credit Reporting Act (FCRA). This is because the FCRA has been amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). http://realtytimes.com/rtpages/20110927_landlords.htm 55E763C0-9772-448F-AAFC-F22B38A66D96 Tue, 27 Sep 2011 07:42:35 -0700 After two days of significant improvements, Mortgage Rates took a measured step back on Friday. Best-Execution rates rose about an eighth of a point. The trend continued today, although in slightly less dramatic fashion. http://www.mortgagenewsdaily.com/consumer_rates/230350.aspx CE0C85CF-80DE-4A51-AC7A-DEE7910B9903 Tue, 27 Sep 2011 07:39:37 -0700 California pending home sales climbed in August from both the previous month and year, the CALIFORNIA ASSOCIATION OF REALTORS® reported today. The year-to-year increase was the highest level since July 2009. http://www.car.org/newsstand/newsreleases/2011newsreleases/augustpending/ 0F308FA5-2319-47ED-97CD-28B350829DA9 Tue, 27 Sep 2011 07:35:19 -0700 March through August are typically the peak buying months. But this time, Americans bought fewer new homes in that stretch than in any other six-month period since record-keeping began a half-century ago. http://www.pe.com/business/realestate/stories/PE_Biz_D_newhomes27.2fb9ae9.html 757891CE-07C1-4C51-966F-2C46E70D34E4 Tue, 27 Sep 2011 07:31:26 -0700 California's labor commissioner has filed a $17-million lawsuit for back wages against a San Francisco Bay Area real estate brokerage, ZipRealty Inc., that markets homes statewide and nationally using an Internet-based sales strategy. http://latimesblogs.latimes.com/money_co/2011/09/ziprealty-17-million-lawsuit-back-wages-california.html 24A86442-0BF7-43D4-B4A3-15A4AB3CB9CF Tue, 27 Sep 2011 07:21:17 -0700 Freddie Mac used a flawed analysis when it accepted $1.35 billion from Bank of America to settle claims that the bank misled it about loans purchased during the mortgage boom, according to an oversight report scheduled for release on Tuesday. http://www.cnbc.com/id/44681311 C4E85239-1641-4666-835D-34739D6415E9 Tue, 27 Sep 2011 07:19:10 -0700 Given the bloated supply of existing homes for sale, including a glut of foreclosures, there aren’t many people willing to shell out a premium price for a newly built house. http://www.marketwatch.com/story/why-would-you-buy-a-new-home-2011-09-26 F2D5923B-D0EF-4CF3-A227-7A9C16347E59 Mon, 26 Sep 2011 07:59:00 -0700 The Census Bureau reports New Home Sales in August were at a seasonally adjusted annual rate of 295 thousand. This was down from a revised 302 thousand in July. http://www.calculatedriskblog.com/2011/09/new-home-sales-decline-slightly-in.html 799DA3FD-5C5C-4199-BC73-E9755C3C5EBF Mon, 26 Sep 2011 07:57:29 -0700 The Irvine Co. plans to sell a fresh batch of new homes in north Irvine - 168 in the Village of Stonegate’s Santa Maria community - starting Oct. 15. http://irvinehomes.ocregister.com/2011/09/25/168-more-new-homes-coming-to-irvine/20383/ E52AF578-C544-47B8-9BBC-D376E1EE4B2A Mon, 26 Sep 2011 07:54:55 -0700 About 2.3 million homeowners could have refinanced their mortgages last year if they didn't owe more than their homes were worth or if lending standards weren't so strict, according to a Federal Reserve study released Thursday. http://www.cnbc.com/id/44637786 037671D3-97A6-4A29-BF2E-365AC2FD96BC Fri, 23 Sep 2011 08:29:54 -0700 Fannie Mae missed chances to catch law firms illegally signing foreclosure documents and its government overseer did not take the right steps to ensure Fannie was doing its job, according to a federal watchdog. http://www.cnbc.com/id/44639115 E65987BB-BB59-44B9-9F7F-A0FE026F1B15 Fri, 23 Sep 2011 08:29:04 -0700 A high score means you can obtain a home loan at the best possible rate. A low score and you’ll pay dearly, if you can get a loan at all. The difference between a 720 score and 580 could be as much as three full percentage points, according to the Consumer Federation of America. http://www.marketwatch.com/story/a-pop-quiz-on-credit-scores-2011-09-23 35B0C464-6A63-4766-8D3A-653F2B75F4F2 Fri, 23 Sep 2011 08:25:16 -0700 While partisans argue over whether millionaires should be subject to the Buffett Rule and be forced to pay a minimum tax, one local economist has a bigger target in her cross-hairs - the mortgage interest deduction. http://economy.ocregister.com/ 8E4291C5-3D2B-4A42-8982-DE9394F7225F Fri, 23 Sep 2011 08:21:26 -0700 Housing starts last month surged from a year earlier, driven primarily by the construction of apartments as the building industry adjusts to increasing numbers of renters compared to homebuyers. http://www.pe.com/business/realestate/stories/PE_Biz_D_housing23.31ba276.html 471DD766-3972-462E-B391-6FA2A8AFEA82 Fri, 23 Sep 2011 08:17:32 -0700 Based on the latest data on non-distressed home sales, FNC’s Residential Price Index indicates that single-family home prices were up slightly in July to a seasonally unadjusted rate of 0.1%, following a strong performance in June that saw a 1.1% increase in a single month. http://www.fncresidentialpriceindex.com/press_releases.aspx?pr=34 5732FB11-A5BC-4189-9796-181B8BA43E30 Fri, 23 Sep 2011 08:14:16 -0700 The Moody’s/REAL Commercial Property Price Index advanced 5 percent from June. It’s up 1.2 percent from a year earlier and almost 13 percent from its post-peak low in April, the New York- based company said in a report today. http://www.bloomberg.com/news/2011-09-22/u-s-commercial-property-prices-rose-5-in-july-moody-s-says.html 29C137F7-DD64-4D1B-B42C-E804B76FDE5A Fri, 23 Sep 2011 08:07:35 -0700 A gauge of future U.S. economic activity rose more than expected in August as the money supply increased due to support from the Federal Reserve, yet the reading suggests that the economy won't pick up any time soon, the Conference board said on Thursday. http://www.cnbc.com/id/44624884 6488FE51-F9A9-43EE-8311-C71BEA1904A4 Thu, 22 Sep 2011 07:40:21 -0700 Freddie Mac today released the results of its Primary Mortgage Market Survey® showing the 30-year fixed remained unchanged at 4.09 percent, while the 15-year fixed dropped a single basis point to 3.29 percent, marking a new record low. http://freddiemac.mediaroom.com/index.php?s=12329&item=64911 BB1D923B-E783-4268-9784-5F8F7D631199 Thu, 22 Sep 2011 07:37:25 -0700 The DOL reports in the week ending September 17, the advance figure for seasonally adjusted initial claims was 423,000, a decrease of 9,000 from the previous week's revised figure of 432,000. http://www.calculatedriskblog.com/2011/09/weekly-initial-unemployment-claims_22.html 45473E26-AD4E-4C1C-9ED7-2CAB0BE56AC1 Thu, 22 Sep 2011 07:36:21 -0700 To support a stronger economic recovery and to help ensure that inflation, over time, is at levels consistent with the dual mandate, the Committee decided today to extend the average maturity of its holdings of securities. http://www.federalreserve.gov/newsevents/press/monetary/20110921a.htm BB63D5E4-324C-4434-9B43-3CFD0DA8B266 Thu, 22 Sep 2011 07:31:24 -0700 The latest Orange County home inventory report from local broker Steve Thomas shows demand for homes running 9% above a year ago. http://lansner.ocregister.com/2011/09/21/demand-for-o-c-homes-up-9/123272/ 734C2F38-1C4D-463B-AC90-B10D27E6220F Thu, 22 Sep 2011 07:21:55 -0700 Existing-home sales increased in August, even with ongoing tight credit and appraisal problems, along with regional disruptions created by Hurricane Irene, according to the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2011/09/ehs_aug 0A488155-018A-44FF-9899-EDCEDE871EFB Wed, 21 Sep 2011 07:19:33 -0700 On the heels of a period of weakness in design activity, the Architecture Billings Index (ABI) took a sudden upturn in August. ... The American Institute of Architects (AIA) reported the August ABI score was 51.4, following a very weak score of 45.1 in July. http://www.aia.org/press/AIAB091078 6B08EBF3-6D91-419F-93AF-C53A0B7CB7DF Wed, 21 Sep 2011 07:16:33 -0700 The MBA reports the Refinance Index increased 2.2 percent from the previous week. The seasonally adjusted Purchase Index decreased 4.7 percent from one week earlier. http://www.mbaa.org/NewsandMedia/PressCenter/77954.htm 58474CCA-33E0-4FFD-8132-747B838537D5 Wed, 21 Sep 2011 07:12:29 -0700 The chief economist of the California Association of Realtors says her group is resigned to seeing high-dollar limits on lower-cost "conforming" loans expire on Oct. 1, resulting in greater financing costs for people buying pricier homes. http://mortgage.ocregister.com/2011/09/21/higher-dollar-limits-on-mortgages-wont-be-extended/47720/ 756F562B-2A46-42B9-A4B5-C3D22EFB9972 Wed, 21 Sep 2011 07:08:18 -0700 After a year of sinking home prices and flat sales, economists for the California Association of Realtors expect California's struggling housing market will see only slight gains in 2012. http://www.pe.com/business/realestate/stories/PE_Biz_D_car21.3487377.html 1F57521C-3A57-4CFE-8C37-42F8FC5C54EF Wed, 21 Sep 2011 07:07:07 -0700 Housing starts fell more than expected in August as groundbreaking for both single-family and multi-family units dropped, suggesting the economy will not get help from residential construction anytime soon. http://www.cnbc.com/id/44591702 52D0C84E-F990-4423-B7E2-9168AFC09ED2 Tue, 20 Sep 2011 07:29:34 -0700 Mortgage debt of more than a half-million dollars seems to get lenders to look the other way for an extra month compared with those who owe far less, according to a North County Times analysis of foreclosure records. http://www.nctimes.com/blogsnew/business/realside/article_839479c6-9c90-50cf-8961-5c3a8aad985c.html E2C53762-FB98-413F-BD9D-AEEAC1F86885 Tue, 20 Sep 2011 07:26:31 -0700 The number of default notices, the first step in the foreclosure process, ballooned in August, largely due to activity from Bank of New York Mellon and Bank of America, figures from La Jolla-based DataQuick show. http://www.signonsandiego.com/news/2011/sep/19/foreclosure-numbers/ 9AFA688A-3118-4C0F-ADA7-6116997D2070 Tue, 20 Sep 2011 07:16:13 -0700 The auction of a custom-built mansion along Malibu's "Billionaire's Beach," so named for its wealthy homeowners, hit a snag Sunday when it failed to generate an acceptable bid. http://latimesblogs.latimes.com/money_co/real_estate/ 363BB7FC-56D2-4DF5-86D1-9E23657C49B6 Tue, 20 Sep 2011 07:14:16 -0700 Barring last-minute action by Congress, upscale housing is about to take another punch to the solar plexus -- just as it's struggling to stabilize. http://money.cnn.com/2011/09/19/real_estate/mortgage_threat_home_prices.fortune/index.htm 6E5FDA67-916A-4078-A095-D2E05E5E8089 Tue, 20 Sep 2011 07:12:08 -0700 mericans have been migrating from coastal states such as New York and California to Sunbelt mainstays such as Texas for quite some time now. But why? http://www.washingtonpost.com/blogs/ezra-klein/post/california-should-fear-high-housing-prices/2011/09/19/gIQAstPEfK_blog.html 70A2E4AB-0904-469D-BF7A-288BF2B2BA25 Tue, 20 Sep 2011 07:08:18 -0700 President Obama proposed $1.5 trillion in new taxes as part of a plan to identify more than $3 trillion in long-term deficit reduction and slow the nation's escalating national debt. http://www.cnbc.com/id/44578708 7657320E-0B29-4E83-AE83-5DFC250748E5 Mon, 19 Sep 2011 08:11:09 -0700 Builder confidence in the market for newly built, single-family homes dipped by a single point to 14 on the National Association of Home Builders/Wells Fargo Housing Market Index for September, released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=13446 C7BBD378-BB60-4718-AE3D-CA8B41D44AC8 Mon, 19 Sep 2011 08:01:30 -0700 It’s taking lenders 30% longer to complete a foreclosure in Orange County than a year ago, with the time needed to process a sale or repossession now stretching well past a year. http://mortgage.ocregister.com/2011/09/19/o-c-foreclosures-stretch-to-411-days/47694/ 4E800FF2-FDD5-445A-9239-7570C015BBA0 Mon, 19 Sep 2011 07:57:00 -0700 Many homebuilders changed course...They began figuring how to serve families who had outgrown existing homes, perhaps because of adult children staying home after college or grandparents requiring a safe place to age. http://www.pe.com/business/realestate/stories/PE_Biz_D_moveup18.25a71b8.html EE4D495C-ADCA-4281-954B-5A1C2F2E3923 Mon, 19 Sep 2011 07:52:16 -0700 Low interest rates have spurred many homeowners to refi. And each time, title firms cash in. Although the fees seem unfairly high, regulators have done little about an industry dominated in California by just four companies. http://www.latimes.com/business/la-fi-lazarus-20110916,0,2474072.column 5CF632C3-D4A9-4D16-B183-1EC801FD54E9 Mon, 19 Sep 2011 07:47:01 -0700 Americans are pumping money into bank accounts at a blistering pace this year, sending deposits to record levels near $10 trillion on escalating fears that the U.S. economy is on the verge of another implosion. http://www.latimes.com/business/la-fi-low-yields-banks-20110918,0,3758580.story 7B4E7373-8902-499C-8CDA-340F43120861 Mon, 19 Sep 2011 07:43:00 -0700 Unemployment rates rose in a majority of states in August for a third straight month, further proof that job growth is weak nationwide. The Labor Department says unemployment rates increased in 26 states. http://finance.yahoo.com/news/Unemployment-rates-rose-in-apf-2316469496.html?x=0&.v=1 48F85FCD-D6EF-49BF-8B32-BACC1C2C3A89 Fri, 16 Sep 2011 08:02:41 -0700 The preliminary September Reuters / University of Michigan consumer sentiment index increased slightly to 57.8 from 55.7 in July. http://www.calculatedriskblog.com/2011/09/preliminary-september-consumer.html 107244E8-C1E3-4E73-93D1-0157013C78AA Fri, 16 Sep 2011 07:50:52 -0700 "We are seeing continued increases in foreclosure referrals in many areas of the country, and that is a potential harbinger for housing market recovery." - Jumana Bauwens, BofA http://mortgage.ocregister.com/2011/09/16/bofa-says-increased-defaults-will-spur-recovery/47684/ 8EB5378B-2A88-4B9D-940B-C54DD8C0403E Fri, 16 Sep 2011 07:41:56 -0700 Home sales jumped 10.2% in the Golden State last month, but a Realtor economist warned that the congressional debt ceiling debate and federal mortgage revisions may have killed chances for the trend to continue. http://lansner.ocregister.com/2011/09/15/calif-home-sales-jump-may-not-last/122876/ 402E9163-134B-43E7-81CD-D89902AA7158 Fri, 16 Sep 2011 07:38:45 -0700 While it's a good sign when price drops slow down, inventory levels are actually a better gauge of where your market is headed, says David Crowe, chief economist for the National Association of Home Builders. http://money.cnn.com/2011/09/15/real_estate/home_prices.moneymag/index.htm?iid=HP_River A5FBD923-8B06-486A-95BC-CE8ECF05182B Fri, 16 Sep 2011 07:12:27 -0700 Tired of playing the waiting game, more wealthy owners are giving real estate auctions a try in hopes of a fast sale. http://www.latimes.com/business/la-fi-luxury-auction-20110915,0,6140883.story 3D843BA2-D158-4AAB-A18F-F34B0EDE5054 Fri, 16 Sep 2011 07:08:41 -0700 Chase on Thursday said the rates at which its customers were late with credit card payments and defaults continued to decline in August. http://finance.yahoo.com/news/Chase-card-late-payments-apf-3738155397.html?x=0&.v=1 FC67EE19-2E7C-4C75-B852-6D8867020E48 Thu, 15 Sep 2011 07:50:52 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 4.09 percent with an average 0.7 point for the week ending September 15, 2011, down from last week when it averaged 4.12 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=61490 24A36CC8-E30B-485C-BCC4-8B17DD2CD2BB Thu, 15 Sep 2011 07:46:10 -0700 The DOL reports in the week ending September 10, the advance figure for seasonally adjusted initial claims was 428,000, an increase of 11,000 from the previous week's revised figure of 417,000. http://www.calculatedriskblog.com/2011/09/weekly-initial-unemployment-claims_15.html 0629C0F0-B574-4954-BD5C-A5679AF41BA5 Thu, 15 Sep 2011 07:41:07 -0700 Southern California home sales rose last month above the July and year-earlier level, the result of seasonal forces, a relatively high number of business days this August and continued robust bottom-feeding. http://www.dqnews.com/Articles/2011/News/California/Southern-CA/RRSCA110914.aspx 85789759-BB51-4996-B498-8A2CB1A3A4E7 Thu, 15 Sep 2011 07:38:43 -0700 Bank of America filed three times as many default notices on Orange County homeowners in August than the month before, helping to push the overall number of defaults in O.C. up 66 percent last month, according to new figures from DataQuick Information Systems. http://mortgage.ocregister.com/2011/09/15/bank-of-america-default-filings-jump-200/47654/ 4D5A292A-7A41-417A-BAB1-F802112C328A Thu, 15 Sep 2011 07:34:21 -0700 In a turnabout that surprised some real estate experts, notices of defaults, which put houses on the path to foreclosure, jumped significantly in Inland Southern California and nationwide last month, which could lead to an increase in repossessions and continue to suppress home prices. http://www.pe.com/business/realestate/stories/PE_Biz_D_housing15.2dab442.html 0E21A215-4A06-4238-932B-8652D26721B6 Thu, 15 Sep 2011 07:32:57 -0700 Foreclosure starts jumped by double digits from July to August in four out of five Western states tracked by ForeclosureRadar, reversing what had been a declining trend over the past several months, the company said. http://www.car.org/newsstand/newsreleases/todaysheadlines/inman/ 73FC1868-E996-4847-8543-47D1F1560C6D Thu, 15 Sep 2011 07:24:47 -0700 The Census Bureau reported today that the number and share of doubled-up households and adults sharing households across the country increased over the course of the recession, which began in December 2007 and ended in June 2009. http://blogs.census.gov/censusblog/2011/09/households-doubling-up.html 52D6EE66-8F38-4B67-B239-EC85EB3B0AC0 Thu, 15 Sep 2011 07:21:29 -0700 The seasonally adjusted Purchase Index increased 7.0 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/77912.htm A74ADD74-1474-4D80-A0F1-307466DF6CE7 Wed, 14 Sep 2011 08:02:30 -0700 Bank of America is ramping up its foreclosure processing, sending out far more notices of default to borrowers in August than in previous months, well over 200 percent more month-to-month. http://www.cnbc.com/id/44503938 3441ACAF-1EA5-488D-A9C3-E848131BBDC6 Wed, 14 Sep 2011 08:00:59 -0700 In a movement propelled by environmental concern, nostalgia for a simpler life and a dollop of marketing savvy, developers are increasingly laying out their cul-de-sacs around organic farms, cattle ranches, vineyards and other agricultural ventures. http://online.wsj.com/article/SB10001424053111903392904576510492421141056.html?mod=WSJ_RealEstate_LeftTopNews 573928D8-BFA3-4BB0-92E9-205B970EAF7F Wed, 14 Sep 2011 07:58:52 -0700 HomeGain's nationwide third quarter 2011 home values survey found that forty-seven percent of surveyed real estate professionals nationwide expect home values to decrease over the next six months. http://realtytimes.com/rtpages/20110914_prices.htm 61346F52-04C5-4274-AA83-1AE1855950B8 Wed, 14 Sep 2011 07:55:53 -0700 The vast majority of Americans with mortgages worth more than their homes are also trapped into high interest rate loans, putting them in precarious financial situations, according to data released Tuesday. http://latimesblogs.latimes.com/money_co/real_estate/ 1392690D-EBE6-4183-A08F-0E795DD281BA Wed, 14 Sep 2011 07:51:42 -0700 Median household income fell 2.3% to $49,445 last year and has dropped 7% since 2000 after adjusting for inflation, the Census Bureau said Tuesday. Income was the lowest since 1996. http://www.usatoday.com/news/nation/story/2011-09-13/census-household-income/50383882/1 17A592F3-C9B2-4792-A372-CB7AB7D76877 Wed, 14 Sep 2011 07:50:03 -0700 Small businesses in the U.S. became less confident in the economy's future for the sixth straight month in August, following a bruising spending battle in Congress, a survey showed on Tuesday. http://www.cnbc.com/id/44499307 EAB0613F-7055-4A20-918D-04093502B83C Tue, 13 Sep 2011 07:54:20 -0700 President Obama's goal of winning a big enough increase in the U.S. debt limit to get him through the November 2012 election could be thwarted by his own job-creation proposal, budget experts said Monday. http://www.cnbc.com/id/44494183 6975CB08-ADAA-401D-8873-6B9472C4D97F Tue, 13 Sep 2011 07:52:30 -0700 CoreLogic reports that 10.9 million, or 22.5 percent, of all residential properties with a mortgage were in negative equity at the end of the second quarter of 2011, down very slightly from 22.7 percent in the first quarter. http://www.calculatedriskblog.com/2011/09/corelogic-109-million-us-properties.html BA9497F0-AA3E-40F8-BD33-598F78538BE3 Tue, 13 Sep 2011 07:49:18 -0700 The largest U.S. banks will be required to show regulators how they would break up and sell off their assets if they are in danger of failing. http://finance.yahoo.com/news/Large-US-banks-must-show-how-apf-2152201017.html?x=0&.v=1 3C2A5798-0311-42C5-90F8-6CC5A0CAE9FD Tue, 13 Sep 2011 07:48:36 -0700 Commercial/multifamily mortgage delinquency rates among four out of five major investor groups decreased in the second quarter of 2011, according to the Mortgage Bankers Association’s Commercial/Multifamily Delinquency Report. http://www.mortgagebankers.org/NewsandMedia/PressCenter/77867.htm 21C78BF0-70EC-4346-9D7A-A343AEDB22BE Tue, 13 Sep 2011 07:41:36 -0700 Wild Rivers closes for good on Sept. 25 and the Irvine Co. proposal calls for an aggressive construction schedule for the rental units. http://lansner.ocregister.com/2011/09/13/whats-replacing-wild-rivers/122540/ 600588C5-B394-4F2C-A9B5-67C4759DBC32 Tue, 13 Sep 2011 07:39:47 -0700 Share16 Bank of America plans a sweeping overall of its nationwide operations - cost-cutting endeavors that will trim is payrolls by 30,000 positions over the next several years. http://mortgage.ocregister.com/2011/09/12/bofa-to-cut-30000-workers/47602/ F0ADE3A6-8744-4C20-B2FF-B29AAE523603 Tue, 13 Sep 2011 07:37:48 -0700 CoreLogic, the gigantic real estate data firm formed by Santa Ana-based First American Financial Corp., is leaving the nest, moving its headquarters away from its former parent, a company spokeswoman said. http://lansner.ocregister.com/2011/09/12/corelogic-moving-to-irvine-spectrum/122241/ DBF62D3B-348B-4588-A5C5-4D1D49BCB0D0 Tue, 13 Sep 2011 07:36:47 -0700 Lease rates for distribution space and other industrial buildings in San Bernardino and Riverside counties, which fell precipitously when the economy sagged in 2008 and 2009, increased in July and August, according to a report by Voit Real Estate Services. In its mid-quarter report, Voit said Orange County's lease rates also started moving up during the third quarter. http://www.pe.com/business/realestate/stories/PE_Biz_D_leases13.2e2ee04.html 11147DE8-89A7-46F1-967C-9B785CA45333 Tue, 13 Sep 2011 07:31:46 -0700 In the Bay Area, about one-fifth of all homes sold in July were purchased by absentee buyers, mostly investors looking for rentals or properties to fix up and then sell, according to DataQuick, a real-estate reporting service. http://www.mercurynews.com/business/ci_18853804?nclick_check=1 5EEA40DE-527D-4D1E-B855-2BA8225FD5E4 Tue, 13 Sep 2011 07:28:18 -0700 Bank of America is looking to reduce annual expenses by $5 billion by 2013 through its cost-cutting initiative, Chief Executive Officer Brian Moynihan said. http://www.cnbc.com/id/44485325 C0C1C736-2E52-4606-AA71-DF4A1DAA1D13 Mon, 12 Sep 2011 08:12:54 -0700 A value-added tax (VAT) that would come with the elimination of corporate and individual income taxes is the best way to get jobs rolling in the U.S., investor Wilbur Ross said. http://www.cnbc.com/id/44483875 3841F1CA-7E52-414C-8CCD-C8D35A009D9C Mon, 12 Sep 2011 08:11:47 -0700 President Barack Obama said Thursday that his administration would work with federal housing agencies to help people refinance at lower interest rates. With mortgage interest rates now near 4%, the step "would put more than $2,000 a year in a family's pocket, and give a lift to an economy still burdened by the drop in housing prices," Obama said in his speech to a joint session of Congress. http://www.marketwatch.com/story/obama-pledges-to-work-on-broad-refinancing-program-2011-09-08?siteid=yhoof2 CECA37C1-65C6-4DB7-894B-1647D3A195A1 Mon, 12 Sep 2011 08:09:32 -0700 Time is running out for Congress to decide whether to block a scheduled drop in the maximum size of government-backed mortgages, and some House lawmakers are calling for quick action. http://blogs.wsj.com/developments/2011/09/08/will-push-to-maintain-mortgage-caps-bear-fruit/ 3DF07325-83F9-44F0-91F7-5D876FDCE1C3 Mon, 12 Sep 2011 08:08:19 -0700 The lights were back on Friday morning in Arizona and steadily returning to parts of Southern California and Mexico, after a power outage accidentally triggered by a utility worker cut electricity to millions of people. http://www.cnbc.com/id/44450846 43772488-6F86-4CEB-A677-6398FEE5137C Fri, 9 Sep 2011 07:30:17 -0700 Bank of America officials have discussed slashing roughly 40,000 jobs during the first wave of a restructuring, The Wall Street Journal reported, citing people familiar with the plans. http://www.cnbc.com/id/44450905 48F54DBD-1F7B-4D82-B5DA-80BE6A3104C7 Fri, 9 Sep 2011 07:24:50 -0700 President Obama's jobs speech failed to have an immediate upside in the stock markets, but it's too early to say whether the response signals disappointment in his plan or a lack of confidence that Republicans will support it. http://www.mortgagenewsdaily.com/mortgage_rates/blog/228190.aspx 80164E95-19A2-4288-A7B2-335CD6D29A5E Fri, 9 Sep 2011 07:17:32 -0700 Here is the fact sheet for The American Jobs Act. Some of the major proposals (total is around $450 billion): http://www.calculatedriskblog.com/2011/09/american-jobs-act.html 5CBCA687-E89E-4F3C-8CAA-526ED37C2430 Fri, 9 Sep 2011 07:16:14 -0700 We find that an Orange County house cost 3.12 times what the median-priced American home cost. That’s no bargain, despite a horrific drop in local home prices. http://lansner.ocregister.com/2011/09/08/o-c-homes-still-triple-the-u-s-cost/122181/ 1D11079E-4F48-4471-B41C-7CCA3ADFC368 Fri, 9 Sep 2011 07:13:10 -0700 Foreclosure rates in the Los Angeles area were down for the month of June when compared with their levels a year ago, a data firm said Thursday. http://latimesblogs.latimes.com/money_co/2011/09/foreclosure-rate-in-los-angeles-area-declines.html F57496DF-26F6-497B-8B8C-62B0EEEF427A Fri, 9 Sep 2011 07:09:41 -0700 Freddie Mac today released the results of its Primary Mortgage Market Survey®, showing mortgage rates, fixed and adjustable, hitting all-time record lows amid market and employment concerns and economic uncertainty. The previous record lows for fixed mortgage rates was set the week of August 18, 2011. http://freddiemac.mediaroom.com/index.php?s=12329&item=59782 A9E3155F-9CD4-4AE2-BBD2-DCE59DD6987F Thu, 8 Sep 2011 07:39:49 -0700 The DOL reports in the week ending September 3, the advance figure for seasonally adjusted initial claims was 414,000, an increase of 2,000 from the previous week's revised figure of 412,000. http://www.calculatedriskblog.com/2011/09/weekly-initial-unemployment-claims_08.html 9F6498A2-90CE-4402-8CC5-485968FB6A0C Thu, 8 Sep 2011 07:38:35 -0700 The BLS reports the number of job openings in July was 3.2 million, little changed from June. Although the number of job openings remained below the 4.4 million openings when the recession began in December 2007, the level in July was 1.1 million openings higher than in July 2009. http://www.calculatedriskblog.com/2011/09/bls-job-openings-little-changed-in-july.html B5058C6A-A4A9-4C64-B3F4-DC3FF9BD6E63 Thu, 8 Sep 2011 07:36:36 -0700 A former Seal Beach real estate broker has been booked on 34 counts of scamming elderly investors out of almost $300,000, making false claims that he bought bank-owned homes with backers’ cash, authorities alleged recently. http://mortgage.ocregister.com/2011/09/08/foreclosure-investment-broker-charged-with-fraud/47533/ DCD8536A-F0A8-48BB-9738-CBFF0C675CC4 Thu, 8 Sep 2011 07:34:27 -0700 The multifamily housing market continued to show improvement in the second quarter of 2011, as the Multifamily Production Index compiled by the National Association of Home Builders increased for the fourth consecutive quarter. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=13438 A6FEC97E-13B2-4612-A8D7-C78F0A75A44F Thu, 8 Sep 2011 07:33:19 -0700 The MBA reports the Refinance Index decreased 6.3 percent from the previous week. The seasonally adjusted Purchase Index increased 0.2 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/77809.htm EE1BD79D-F1EB-4CAC-BE2F-7F0EAB027A02 Thu, 8 Sep 2011 07:31:02 -0700 Taxable property values in California saw their first gain in three years, but the increase was a mere 0.3 percent, the state Board of Equalization has reported. http://lansner.ocregister.com/2011/09/07/calif-property-tax-values-see-1st-gain-in-3-years/122051/ A5D65A53-18DC-44F9-958C-3B11FB061ADE Thu, 8 Sep 2011 07:27:10 -0700 Big U.S. banks in talks with state prosecutors to settle claims of improper mortgage practices have been offered a deal that is proposed to limit part of their legal liability in return for a multibillion dollar payment. http://www.cnbc.com/id/44403367 D6F86CA1-7E09-4BAE-AEA3-C524B661DBB5 Tue, 6 Sep 2011 07:44:40 -0700 The August ISM Non-manufacturing index was at 53.5%, up from 52.7% in July. The employment index decreased in August to 51.6%, down from 52.5% in July. http://www.calculatedriskblog.com/2011/09/ism-non-manufacturing-index-indicates.html 85849FDC-9EDD-442E-AE81-357409E04804 Tue, 6 Sep 2011 07:39:12 -0700 "Over the next three months, 11 percent plan to increase employment (up 1 point), and 12 percent plan to reduce their workforce (also up 1 point), yielding a seasonally adjusted net 5 percent of owners planning to create new jobs, which is a 3 point improvement over July." http://www.calculatedriskblog.com/2011/09/survey-small-business-hiring-plans.html 0735857C-7DEC-458F-B6ED-E777686910BB Tue, 6 Sep 2011 07:35:40 -0700 U.S. service firms that employ 90 percent of the work force expanded at a slightly faster pace in August. But the sector remains too weak to help an economy that is barely growing and struggling to create jobs. http://finance.yahoo.com/news/Service-firms-grew-at-apf-2931148516.html?x=0&.v=3 31375CA3-5C07-4C93-B75B-D2AB4929AA67 Tue, 6 Sep 2011 07:33:39 -0700 Not only are borrowers getting a more thorough examination, but also the properties themselves are being scrutinized as never before. http://realtytimes.com/rtpages/20110906_lenders.htm 3CDFE7EB-5D30-4C76-BB71-2253B4EB3F3D Tue, 6 Sep 2011 07:29:13 -0700 A government desire to break up the nation's largest banks and discourage lending is going to force the US into a recession, analyst Dick Bove said. http://www.cnbc.com/id/44407125 A8C82E6E-516D-4DF1-9820-D91A1963F7AC Tue, 6 Sep 2011 07:27:47 -0700 According to the suits, "These securities were sold pursuant to registration statements, including prospectuses and prospectus supplements that formed part of those registration statements, which contained materially false or misleading statements and omissions. http://www.mortgagenewsdaily.com/09062011_mbs_improprieties.asp A4211BBA-70AB-48E1-903F-1DAABEFFC026 Tue, 6 Sep 2011 07:24:21 -0700 At $200,000, the condo unit was a bargain considering it had been priced at more than $400,000 in the past, said Barton, 52. Plus, since the couple rent out the home when the family isn’t using it, they’re able to cover their mortgage payments and all their expenses - and make a profit. http://www.marketwatch.com/story/low-prices-lure-vacation-home-buyers-2011-09-06 B34EB360-E90A-466A-A78A-51F35CBFEBB0 Tue, 6 Sep 2011 07:22:27 -0700 As more homeowners throw in the towel with the realization that the best time of the year to sell has now passed, the inventory continues to steadily drop. Last year at this time the inventory was still growing, continuing right through September. http://lansner.ocregister.com/2011/09/06/sellers-rush-to-pull-homes-off-o-c-market/121989/ 3CD36486-6564-471E-BEA6-C620C8C71235 Tue, 6 Sep 2011 07:19:32 -0700 President Barack Obama is previewing his ideas for job creation and economic growth at a Labor Day rally with union members in Detroit. http://finance.yahoo.com/news/Obama-to-spend-Labor-Day-at-apf-2470391133.html?x=0&.v=5 FC7D2B8F-D421-4A34-8EDC-1D3F3E38A68F Mon, 5 Sep 2011 08:09:17 -0700 Given its stable employment market, greatly helped by government jobs, Washington, D.C. is a top city for working toward a home purchase, according to a list from Move Inc., assembled ahead of the Labor Day holiday. http://www.marketwatch.com/story/good-job-markets-make-for-good-housing-markets-2011-09-02 540471D7-A1A5-44A7-BE51-1825A189FDEB Mon, 5 Sep 2011 08:04:10 -0700 Homebuilder Toll Brothers has sold nine, new million-dollar-plus homes at The Heights project in Rancho Cucamonga since March. The houses in this gated community typically sits on a half-acre lot and range in size from 4,707 square feet to 5,864 with most homes having five bedrooms, some even with six. http://lansner.ocregister.com/2011/09/03/crazy-inland-empire-new-homes-for-1-million/121903/ F5517F4C-7FD3-4449-B1AE-910D6D12E8F8 Mon, 5 Sep 2011 08:00:27 -0700 Former [Laker and] Michigan State University star Jay Vincent was sentenced today to just over 51/2 years in federal prison in connection with an employment scam. http://www.lansingstatejournal.com/article/20110902/NEWS01/109020333/Former-MSU-star-Jay-Vincent-sentenced-68-months-prison?odyssey=tab%7Ctopnews%7Ctext%7CFRONTPAGE 3DCD889C-80F2-4882-B17C-767CFC9E50B8 Mon, 5 Sep 2011 07:57:27 -0700 More than a dozen banks are expected to face lawsuits from a federal housing agency accusing them of misrepresenting the value of mortgage-backed securities. http://money.cnn.com/2011/09/02/news/companies/banks_mortgage_lawsuit/index.htm?iid=HP_LN 9902B4C9-FE3A-424A-BE07-2E903F0DBA29 Mon, 5 Sep 2011 07:49:21 -0700 The jobless rate is expected to end this year at 9.1% and average 9% next year. On the bright side, a double-dip recession isn't predicted. http://www.latimes.com/business/la-fi-obama-economy-20110902,0,7026111.story AEFBDC93-81C7-4C28-A24E-D8C44F68722A Mon, 5 Sep 2011 07:47:12 -0700 Just like in June, when employment was impacted by the tsunami in Japan, employment in August was impacted by the debt ceiling debate in August. http://www.calculatedriskblog.com/2011/09/employment-summary-part-time-workers.html B3E9CA2C-A002-4457-AA1A-82CA94B47178 Fri, 2 Sep 2011 07:46:57 -0700 U.S. employment growth ground to a halt in August as sagging confidence discouraged already skittish businesses from hiring, piling pressure on the Federal Reserve to provide more stimulus to aid the economy. http://www.reuters.com/article/2011/09/02/us-usa-economy-idUSTRE77U25D20110902?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28News+%2F+US+%2F+Business+News%29 3FD9693C-F2FB-48DF-971D-8B64E64CDC6C Fri, 2 Sep 2011 07:44:17 -0700 A Carlsbad lawyer today was found guilty of vandalism, attempted burglary and other charges after encouraging his client, a foreclosed homeowner, to break into his Newport Coast house to repossess it. http://mortgage.ocregister.com/2011/09/01/foreclosure-lawyer-found-guilty-in-house-break-in/47215/ 74EC0629-06AD-469F-A4E9-140C3C0625CA Fri, 2 Sep 2011 07:37:06 -0700 The federal agency that oversees the mortgage giants Fannie Mae and Freddie Mac is set to file suits against more than a dozen big banks, accusing them of misrepresenting the quality of mortgage securities they assembled and sold at the height of the housing bubble, and seeking billions of dollars in compensation. http://www.cnbc.com/id/44367003 12461791-9DBB-41C5-A847-3FEF7D6E3CD6 Fri, 2 Sep 2011 07:34:03 -0700 The Obama administration said the two banks were in need of substantial improvement, judging them unworthy of receiving financial incentives through its signature foreclosure relief program until they improve their practices. http://latimesblogs.latimes.com/money_co/real_estate/ 92F55143-32C3-41C0-8693-50C5EFBDC9A9 Fri, 2 Sep 2011 07:32:51 -0700 The Census Bureau reported overall construction spending during July 2011 was estimated at a seasonally adjusted annual rate of $789.5 billion, 1.3 percent (±1.9%)* below the revised June estimate of $799.8 billion. http://www.calculatedriskblog.com/2011/09/construction-spending-declined-in-july.html 27552D92-3786-41AD-86FF-BEC05EF94CE0 Fri, 2 Sep 2011 07:28:24 -0700 Since the real estate bust, many people have complained that they couldn't buy, sell or refinance a home because an appraiser used bank-owned or short-sold homes as comparables in the valuation process, which dragged down the value of their home. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/09/01/BU1H1KUA2V.DTL 3DCF293E-E924-4229-A547-F1C44F34C2CB Fri, 2 Sep 2011 07:26:43 -0700 U.S. President Barack Obama on Wednesday agreed to unveil new jobs proposals in an address to Congress on Sept. 8, bowing to pressure from Republicans, who objected to the original date set for his high-profile speech. http://www.cnbc.com/id/44352004 007A0C6D-29F1-4F24-9A7F-EC6900045C42 Thu, 1 Sep 2011 08:57:07 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 4.22 percent with an average 0.7 point for the week ending September 1, 2011, matching last week when it also averaged 4.22 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=56124 4866251D-8CC9-465F-9DF9-950C9A1535D0 Thu, 1 Sep 2011 07:21:59 -0700 The DOL reports in the week ending August 27, the advance figure for seasonally adjusted initial claims was 409,000, a decrease of 12,000 from the previous week's revised figure of 421,000. http://www.calculatedriskblog.com/2011/09/weekly-initial-unemployment-claims.html 8038A8D1-391A-413D-BCE5-DA4F43321E14 Thu, 1 Sep 2011 07:18:55 -0700 Fannie Mae reported that the Single-Family Serious Delinquency rate was unchanged at 4.08% in July. This is down from 4.82% in July of 2010. http://www.calculatedriskblog.com/2011/08/fannie-mae-and-freddie-mac-serious.html 146515EF-7485-4EB0-9F25-25E497AF26E1 Thu, 1 Sep 2011 07:16:34 -0700 The price of solar panels has plunged in the last four years. But the price of a complete home solar system hasn't kept pace. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/08/30/BUEP1KTRF0.DTL 0D4D38CF-CEE9-4E0A-8AAE-CBD44B70015B Thu, 1 Sep 2011 07:10:51 -0700 Nevada's attorney general wants a federal judge in a big mortgage fraud case to set aside an earlier consent judgment so the state can sue Countrywide Financial Corp. and Bank of America for consumer fraud. http://finance.yahoo.com/news/Nevada-AG-renews-mortgage-apf-3179226266.html?x=0&.v=1 4E9E7739-33E1-47D3-93EC-0287623EEB52 Wed, 31 Aug 2011 08:07:12 -0700 The private sector created 91,000 jobs from July to August, a shade below expectations, according to a report from ADP that sets the stage for a likely weak report on nonfarm jobs the government will release Friday. http://www.cnbc.com/id/44338688 F2C1A9A8-E8D9-49B8-A1D4-6BB874160E90 Wed, 31 Aug 2011 08:05:08 -0700 The July Mortgage Monitor report released by Lender Processing Services, Inc. shows that foreclosure timelines continue their steady upward trend, as a payment has not been made on the average loan in foreclosure in a record 599 days. http://www.calculatedriskblog.com/2011/08/lps-average-loan-in-foreclosure-is.html 5E0698F8-DF3B-4248-A6F0-1BEC8415E670 Wed, 31 Aug 2011 08:02:25 -0700 The MBA reports the Refinance Index decreased 12.2 percent from the previous week. The seasonally adjusted Purchase Index increased 0.9 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/77745.htm F5A51A19-783B-4CE5-A2DE-61B8EF0298A2 Wed, 31 Aug 2011 07:59:03 -0700 Irvine will get a new medical building complex near the Hoag and Kaiser medical complexes. Pacific Medical Buildings is construction Shady Creek Medical Center near Sand Canyon and Alton Parkway. When completed in 2013, it will will offer 150,000 square feet of medical office space. http://irvinehomes.ocregister.com/2011/08/30/irvine-getting-more-medical-office-space/20083/ 49C2CD96-3B92-4BA8-8412-CC8FC6B81936 Wed, 31 Aug 2011 07:57:16 -0700 Authorities have arrested seven people, including some in the United States illegally, on suspicion of posing as owners of at least 20 homes they were renting, taking out $5.9 million in home-equity loans and pocketing the cash. http://www.ocregister.com/news/suspects-314604-derry-home.html EB1B7D1A-C102-4B46-BB49-BD1482520E91 Wed, 31 Aug 2011 07:56:09 -0700 CoreLogic - the Santa Ana-based real estate information giant that tracks homes sales and lending trends - has put itself up for sale in what would be a billon-dollar deal. http://www.ocregister.com/articles/sale-314577-corelogic-data.html A40E4D07-77CA-46DC-834B-6CB7648ABAD5 Wed, 31 Aug 2011 07:53:44 -0700 CoreLogic will move to 40 Pacifica in the Irvine Spectrum in late summer 2012, landlord Irvine Co. said. CoreLogic will occupy 170,000 square feet, about seven and a half floors, and have prominent signs on the building. http://latimesblogs.latimes.com/money_co/real_estate/ 11A9DB0D-643F-434F-B0AE-F196E7385B47 Wed, 31 Aug 2011 07:52:15 -0700 CoreLogic released its July Home Price Index which shows that home prices in the U.S. increased for the fourth consecutive month, inching up 0.8 percent on a month-over-month basis. http://www.calculatedriskblog.com/2011/08/corelogic-home-price-index-increased-08.html DBD072F5-9A72-45C0-B5CA-8C8D4BF4C571 Wed, 31 Aug 2011 07:50:14 -0700 According to Construction Industry Research Board stats, Orange County developers in the first seven months of 2011 pulled permits for 3,369 units - up 146% from a year ago. http://lansner.ocregister.com/2011/08/30/o-c-homebuilding-soars-146/121531/ 91437685-0D84-4105-9FD3-41FACB51DC33 Tue, 30 Aug 2011 13:13:02 -0700 Some Federal Reserve officials pushed in August for a more aggressive response to the economy's slowdown. They settled for a pledge to keep rates super-low for two more years and agreed to consider additional options at an extended meeting in September. http://www.cnbc.com/id/44329777 EAB97459-23DF-4BB2-908A-0360C9915BE8 Tue, 30 Aug 2011 13:07:47 -0700 Bank of America Merrill Lynch economist John Dennerlein said there may be some good news about consumer spending buried inside the report - "We find that consumers' buying attitudes do not reflect their confidence levels." http://www.cnbc.com/id/44329376 03F732BF-D9AF-4F1C-80DF-BA4282EF34B4 Tue, 30 Aug 2011 13:05:03 -0700 Consumers' confidence in August dropped almost 15 points to the lowest level since April 2009 as worries about the economy fueled the wildest stock market swings since the financial meltdown in 2008. http://www.cnbc.com/id/15837362/site/14081545/ E328E654-1605-4E0C-B5C9-3D6D5926DE32 Tue, 30 Aug 2011 09:09:41 -0700 The Standard and Poor's/Case-Shiller home-price index showed Tuesday that prices increased in June from May in 19 of the 20 cities tracked. Prices rose 3.6 percent in the April-June quarter from the previous quarter. http://www.cnbc.com/id/44325906 88CB46E0-FD02-4F67-B940-ACB10704F56A Tue, 30 Aug 2011 09:06:07 -0700 Pending home sales declined in July but remain well above year-ago levels, according to the National Association of Realtors®. All regions show monthly declines except for the West, which continues to show the highest level of sales contract activity. http://www.realtor.org/press_room/news_releases/2011/08/phs_july 89CAE72E-559C-4699-9425-F2F50E2F61EE Mon, 29 Aug 2011 07:09:44 -0700 U.S. consumer spending rebounded strongly in July to post the largest increase in five months on strong demand for motor vehicles, a government report showed on Monday, supporting views the economy was not falling back into recession. http://www.cnbc.com/id/44311824 BDC4078A-CC7B-48C8-9825-FDF4F29D9237 Mon, 29 Aug 2011 07:08:46 -0700 Battered by a weak economy, the nation’s biggest banks are cutting jobs, consolidating businesses and scrambling for new sources of income in anticipation of a fundamentally altered financial landscape requiring leaner operations. http://www.nytimes.com/2011/08/29/business/top-banks-confront-leaner-future-by-cutting-jobs.html?_r=1 32818BF4-CF62-4150-B446-D305272D3E44 Mon, 29 Aug 2011 07:03:56 -0700 As homeowners across the East Coast brace for Hurricane Irene and the heavy rains that are expected to fall over the next few days, the current threat underscores the importance of flood insurance, which is the only way for homeowners to financially protect their property or businesses from flood damages. http://www.realtor.org/press_room/news_releases/2011/08/hurricane_irene B689536D-5734-4824-8211-A9DD3A120FAB Mon, 29 Aug 2011 06:50:30 -0700 Federal Reserve Chairman Ben Bernanke said the Federal Reserve stands ready to use additional tools to help the US economy in its nascent recovery, but he stopped short of explicit talk that another round of monetary easing is forthcoming. http://www.cnbc.com/id/44286314 4A2B7D0D-AA34-4482-A466-7C5D70C67DBD Fri, 26 Aug 2011 07:11:02 -0700 The final August Reuters / University of Michigan consumer sentiment index increased slightly to 55.7 from the preliminary reading of 54.9. This is down sharply from 63.7 in July. http://www.calculatedriskblog.com/2011/08/final-consumer-sentiment-at-557-down.html FF0CD973-3CBC-44CE-867C-3F8D9F8E4E6E Fri, 26 Aug 2011 07:09:53 -0700 The U.S. economy grew much slower than previously thought in the second quarter as business inventories and exports were less robust, a government report showed on Friday, although consumer spending was revised up. http://www.cnbc.com/id/44285105 2206A25C-D4A6-4C7F-AC6F-4EF1049EE973 Fri, 26 Aug 2011 07:03:18 -0700 While this data seems a bit old, a survey of major business expansions in the region by Los Angeles County Economic Development Corp. does provide a heads up of where the the local economy has been. http://www.ocregister.com/articles/county-313854-major-expansions.html 4668EEAA-E1DB-44B5-A392-C5AFD771088F Fri, 26 Aug 2011 07:01:23 -0700 With the release of the Q2 FDIC Quarterly Banking Profile, we can estimate the number of REOs held by FDIC insured banks and thrifts. http://www.calculatedriskblog.com/2011/08/update-on-q2-reo-inventory.html 0033F477-1E3B-4623-ABFA-F7A3E110579C Fri, 26 Aug 2011 06:57:27 -0700 Foreclosure sales, which include homes purchased after they received a notice of default or that were repossessed by lenders, accounted for 31 percent of the market in the April-June quarter, foreclosure listing firm RealtyTrac Inc. said Thursday. http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2011/08/24/national/w210551D08.DTL 0A4B3B9D-FFBA-49F3-B08E-17252441C813 Fri, 26 Aug 2011 06:55:09 -0700 The affordability index from the National Association of Home Builders and Wells Fargo Bank found that 40.5 percent of Orange County households could afford the median-priced house sold in the second quarter. http://www.ocregister.com/articles/homes-313783-affordable-county.html CB0A3755-89D2-436C-941B-F927A3562FEB Fri, 26 Aug 2011 06:49:35 -0700 The DOL reports in the week ending August 20, the advance figure for seasonally adjusted initial claims was 417,000, an increase of 5,000 from the previous week's revised figure of 412,000. http://www.calculatedriskblog.com/2011/08/weekly-initial-unemployment-claims_25.html 223B0C96-A67C-4005-8D75-406F593F2CDC Thu, 25 Aug 2011 07:48:50 -0700 The Obama administration is considering further actions to strengthen the housing market, but the bar is high: plans must help a broad swath of homeowners, stimulate the economy and cost next to nothing. http://www.cnbc.com/id/44269404 B0E875D2-7BB2-4BA7-BE57-3214C23A42BB Thu, 25 Aug 2011 07:47:39 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 4.22 percent with an average 0.7 point for the week ending August 25, 2011, up from last week when it averaged 4.15 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=53490 8FDC1E06-0DE8-4086-9D54-CF854EF02348 Thu, 25 Aug 2011 07:44:08 -0700 RealtyTrac, the Irvine California firm that reports on all things foreclosure said on Thursday that, while sales of bank-owned real estate and homes in some stage of foreclosure during the second quarter of 2011 was mixed in comparison with earlier quarters, the gap in sales price between distressed and market rate sales continued to widen. http://www.mortgagenewsdaily.com/08252011_foreclosure_sales.asp 5A9A2CFF-637F-4A8E-82DA-4DB22D968013 Thu, 25 Aug 2011 07:42:02 -0700 Commercial real estate vacancy rates are flat and projections for growth have been moderated because economic growth and job creation have been weaker than expected, but modest improvements are expected over the coming year, according to the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2011/08/commercial_q3 19BFA321-FB29-4F52-9E0F-194F5EF5B482 Thu, 25 Aug 2011 07:40:38 -0700 Demand, the number of new pending sales over the prior month, has increased by 300 pending sales over the last month and now totals 3,194. http://lansner.ocregister.com/2011/08/25/despite-turmoil-demand-for-o-c-homes-rising/121347/ 57906878-5643-43EE-BA0F-52BEAA4D7C71 Thu, 25 Aug 2011 07:38:45 -0700 According the the Bureau of Labor Statistics, rents in Southern California rose at an annual rate of 1.4% in July. That compares to rising at an annual rate in June of 1.3%. http://lansner.ocregister.com/2011/08/24/socal-rents-up-11th-straight-month/121317/ 7A95E5EC-ABD6-438B-8015-9A7A9A5556C3 Thu, 25 Aug 2011 07:37:22 -0700 Pending home sales, a sign of the direction of the housing market, fell 1.7 percent in California last month, according to the California Association of Realtors. http://blogs.pe.com/business/2011/08/pending-california-home-sales.html 929C177D-CB7F-4AB8-B07D-671737AC46EA Thu, 25 Aug 2011 07:31:34 -0700 The Mortgage Bankers Association reports the seasonally adjusted Purchase Index decreased 5.7 percent from one week earlier and is at the lowest level in the survey since December 1996. http://www.mortgagebankers.org/NewsandMedia/PressCenter/77707.htm B7F3F6E8-203E-4F9D-8A3B-486BA26D14E6 Wed, 24 Aug 2011 09:03:22 -0700 New U.S. single-family home sales fell more than expected in July to hit a five month low and the prior month's pace was revised down, though the supply of homes available on the market dropped to a record low. http://www.cnbc.com/id/44241150 AFFD9E21-1766-4B0D-8409-8F03EA7DF394 Tue, 23 Aug 2011 08:00:29 -0700 U.S. commercial property prices rose 0.9 percent in June, the second straight monthly gain, as buyers increased purchases in smaller cities in search of higher returns, according to Moody’s Investors Service. http://www.businessweek.com/news/2011-08-22/commercial-property-prices-rose-0-9-in-june-moody-s-says.html 5F732823-3F41-4990-BEA7-E8FCADBF8876 Tue, 23 Aug 2011 07:54:40 -0700 A recent report from Standard & Poor's found that the time it would take for banks to purge all of this so-called "shadow inventory" from the market (through foreclosure sales, mortgage modifications and other measures) shrunk to 47 months during the second quarter, a significant drop from the 52 months it estimated for the first quarter of this year. http://money.cnn.com/2011/08/22/real_estate/foreclosed_homes_shadow_inventory/index.htm 9F6E1BF0-432B-4A43-9DC5-187686F952D5 Tue, 23 Aug 2011 07:53:53 -0700 Visions of a statewide multiple listing service in California are a step closer to reality today, with the California Regional Multiple Listing Service Inc. (CRMLS) announcing a merger that will double its size and make it the nation's largest, with 68,000 participants and subscribers. http://www.inman.com/news/2011/08/19/2-california-mlss-merge-become-largest-in-nation 86C5FCBE-D6A6-468B-8803-34F100842FDD Tue, 23 Aug 2011 07:50:17 -0700 U.S. consumer confidence has fallen further after weeks of intensified economic concerns and broad stock market declines, and Conference Board data due later this month could be even weaker than current projections suggest, Consumer Edge Research said on Monday. http://www.cnbc.com/id/44227966 C3B905B0-2873-48FC-A956-F9503517A391 Mon, 22 Aug 2011 10:27:21 -0700 The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 8.44 percent of all loans outstanding as of the end of the second quarter of 2011, an increase of 12 basis points from the first quarter of 2011, and a decrease of 141 basis points from one year ago, according to the Mortgage Bankers Association's National Delinquency Survey. http://www.mbaa.org/NewsandMedia/PressCenter/77688.htm 2A10D088-47B9-458F-A093-50DF7DC7502C Mon, 22 Aug 2011 10:26:10 -0700 The investor share of the home buyers fell to 19.6 percent in July according to one survey by Campbell/Inside Mortgage Finance, the lowest level in a year. http://www.cnbc.com/id/44229897 1B254B6B-65E2-49A5-916B-7349BF88A082 Mon, 22 Aug 2011 10:23:47 -0700 Fifty-one percent of real estate professionals surveyed by ERA Real Estate said they’re seeing an increase in first-time investor activity in their markets. http://www.marketwatch.com/story/more-first-time-property-investors-in-the-market-2011-08-19 059C5E30-D6D2-4F6B-8F1E-D60E0E483339 Mon, 22 Aug 2011 07:16:59 -0700 Unbeknown to most homeowners, if a home insurance policy lapses, the lender can impose its own that is typically priced far above the market price - sometimes so high that it can force homeowners into default or foreclosure. http://www.signonsandiego.com/news/2011/aug/20/forced-insurance-adds-to-home-woes/ D68EE10C-E189-40A1-8146-8C37C8230B40 Mon, 22 Aug 2011 07:13:29 -0700 The percentage of homeowners who have missed at least one mortgage payment has risen for the second straight quarter, the Mortgage Bankers Assn. says. http://latimesblogs.latimes.com/money_co/real_estate/ BB93391B-5D05-44F3-9772-6C3471768C76 Mon, 22 Aug 2011 07:08:27 -0700 With the Dow Jones Industrial Average down more than 400 points today, and many market experts predicting more volatility ahead, some advisers are recommending their clients put some of their cash to another use: To buy that house or summer home at the shore. http://blogs.smartmoney.com/advice/2011/08/18/forget-the-market-buy-a-house/ 7A13F9B1-1D50-4BCD-88AE-B3E287C9A76B Mon, 22 Aug 2011 07:07:24 -0700 Bank of America is cutting 3,500 jobs this quarter and working on a restructuring that could eliminate thousands of additional positions, adding to a slew of layoffs by major banks. http://www.cnbc.com/id/44199531 91569E32-78E3-480B-AE9C-10E9EF57DA88 Fri, 19 Aug 2011 08:42:03 -0700 Regional and state unemployment rates were generally little changed in July. Twenty-eight states and the District of Columbia registered unemployment rate increases, nine states recorded rate decreases, and thirteen states had no rate change, the U.S. Bureau of Labor Statistics reported today. http://www.calculatedriskblog.com/2011/08/state-unemployment-rates-little-changed.html A645140D-468C-4BC3-B546-207DFFA13C7A Fri, 19 Aug 2011 08:40:43 -0700 Trulia.com is reporting that during the month of July, buying was cheaper than renting in 74% of the country's 50 largest cities. http://realtytimes.com/rtpages/20110819_renting.htm C75D3D16-7229-40CC-BF59-27064ACD2E2C Fri, 19 Aug 2011 08:38:02 -0700 DataQuick reports 663 O.C. residences sold in the 22 business days ending August 5. This is up 4.3% from a year-ago! http://lansner.ocregister.com/2011/08/19/121143/121143/ FE7C33F5-53EB-4CC5-A6F4-E70B194BEE28 Fri, 19 Aug 2011 08:33:36 -0700 California Attorney General Kamala D. Harris announced Thursday that her office has sued four California lawyers and others who worked with them for allegedly defrauding thousands of distressed homeowners nationwide of millions of dollars by urging them through false advertising to sue their mortgage lenders. http://www.pe.com/business/realestate/stories/PE_Biz_D_mortgages19.3068b80.html D6BAB87F-CB7C-48CF-A419-6051A8F02B0C Fri, 19 Aug 2011 08:30:51 -0700 Freddie Mac reports 30-year fixed averaged 4.15 percent, breaking the previous record low of 4.17 percent set November 11, 2010. http://freddiemac.mediaroom.com/index.php?s=12329&item=51053 12E9D94D-0743-4A61-87FB-D2C920E6B3E6 Thu, 18 Aug 2011 07:11:16 -0700 Nationwide housing affordability during the second quarter of 2011 hovered for the 10th consecutive quarter near its highest level in the more than 20 years it has been measured, according to National Association of Home Builders/Wells Fargo Housing Opportunity Index. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=13227 4ABEC958-A495-4EF0-9FA3-F41104962F52 Thu, 18 Aug 2011 07:07:55 -0700 Existing-home sales declined in July from an upwardly revised June pace but are notably higher than a year ago, according to the National Association of Realtors®. Monthly gains in the Northeast and Midwest were offset by declines in the West and South. http://www.realtor.org/press_room/news_releases/2011/08/july_ehs 0E696169-384D-459E-9D25-03E9B9781D33 Thu, 18 Aug 2011 07:06:08 -0700 The Labor Department said Thursday that the Consumer Price Index rose 0.5 percent in July. That followed a drop of 0.2 percent in June. http://finance.yahoo.com/news/Consumer-prices-rose-by-the-apf-3790978188.html?x=0&.v=8 9DC5EC0F-FF18-4AB2-B0EB-1C49A54E20F5 Thu, 18 Aug 2011 06:49:12 -0700 The DOL reports in the week ending August 13, the advance figure for seasonally adjusted initial claims was 408,000, an increase of 9,000 from the previous week's revised figure of 399,000. http://www.calculatedriskblog.com/2011/08/weekly-initial-unemployment-claims_18.html 4022D7B0-B0CB-48B1-B89A-7C3C33E5CC01 Thu, 18 Aug 2011 06:47:42 -0700 Plans to demolish a former Kmart and construct 320 apartments in its place are moving forward despite objections from neighboring residents. http://www.ocregister.com/news/city-312428-residents-project.html 421F14D5-E92C-4BB0-B3D7-9D8E6663ECF6 Thu, 18 Aug 2011 06:39:57 -0700 The Justice Department is investigating whether the nation’s largest credit ratings agency, Standard & Poor’s, improperly rated dozens of mortgage securities in the years leading up to the financial crisis, according to two people interviewed by the government and another briefed on such interviews. http://www.nytimes.com/2011/08/18/business/us-inquiry-said-to-focus-on-s-p-ratings.html?_r=1 3BCBEC41-8565-421A-AA87-BF2B5CEE1A5A Thu, 18 Aug 2011 06:34:32 -0700 The number of homes listed for sale continued to decline in July, falling by 1.2% from June and nearly 18% from one year ago. http://blogs.wsj.com/developments/2011/08/17/report-housing-inventory-fell-18-in-july/ 31C6C116-C5AF-4330-A4F1-35413C7DD3A8 Thu, 18 Aug 2011 06:26:58 -0700 Seeking a jolt for the economy, President Barack Obama will lay out new ideas for speeding up job growth and helping the struggling poor and middle class in a major speech in early September, a senior administration official told The Associated Press. http://www.cnbc.com/id/44174262 3B9C96CD-E147-4915-9318-6266EB33D539 Wed, 17 Aug 2011 08:18:04 -0700 Freddie Mac released its U.S. Economic and Housing Market Outlook for August showing that despite the recent ups and downs in the capital markets the likelihood of an extended period of both relatively low short- and long-term interest rates is helpful news for the housing market's recovery as it continues to struggle. http://freddiemac.mediaroom.com/index.php?s=12329&item=49360 E3F23130-5499-44BE-8141-737007A27828 Wed, 17 Aug 2011 08:11:43 -0700 The MBA reports the Refinance Index increased 8.0 percent from the previous week, but was 16.3 percent lower than the same week last year. The seasonally adjusted Purchase Index decreased 9.1 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/77635.htm 975D8423-A472-4EC3-86FC-73058594BD58 Wed, 17 Aug 2011 08:08:35 -0700 An estimated 34,695 new and resale houses and condos were sold statewide last month. That was down 11.0 percent from 38,975 in June, and down 1.4 percent from 35,202 for July 2010. http://www.dqnews.com/Articles/2011/News/California/RRCA110816.aspx ADDDC25C-9BDF-4806-98C0-BFF756BB4C05 Wed, 17 Aug 2011 08:07:17 -0700 It took just a little more than a year - an average of 373 days - for banks to foreclose on Orange County homes as of July, a report by ForeclosureRadar.com shows. That’s up 32% from July 2010. http://mortgage.ocregister.com/2011/08/17/time-to-foreclose-on-o-c-home-373-days/46793/ 6C2EFF85-DF80-49E8-A94A-65F3D31FCDEC Wed, 17 Aug 2011 08:03:53 -0700 Fewer than one-third of Orange County residents could afford to buy a median-priced, single family home here as of the second quarter of 2011, a California Association of Realtors analysis shows. http://lansner.ocregister.com/2011/08/16/o-c-home-affordability-at-31/120237/ B275CE54-C050-4E91-8952-31F61E790375 Wed, 17 Aug 2011 08:02:31 -0700 According to real estate web site Trulia, buying was cheaper than renting in 74% of the country's 50 largest cities in July. In just 12% of the cities, including New York, Seattle and San Francisco, renting was cheaper. http://money.cnn.com/2011/08/16/real_estate/buy_rent/index.htm?iid=HP_LN 28E8CC1A-F1D8-4CB5-8B6A-7E6FB82A40FB Wed, 17 Aug 2011 07:59:24 -0700 Spurred by low interest rates and a desire to pay off their debts, homeowners are shortening the terms of their loans. In the first quarter, 34% of refinancers switched to a 20- or 15-year loan, the highest level in seven years, according to mortgage giant Freddie Mac. http://www.usatoday.com/money/perfi/columnist/block/2011-08-15-mortgage-tips_n.htm 1EB149EC-C4F9-4E87-A46D-B44CD2CD75D7 Wed, 17 Aug 2011 07:57:49 -0700 Southern California home sales fell last month to the lowest level for a July in four years, though the decline from a year earlier was the smallest in 13 months. http://www.dqnews.com/Articles/2011/News/California/Southern-CA/RRSCA110815.aspx B67E6D6B-B770-4403-8DB3-1E8B8F6CD5E9 Tue, 16 Aug 2011 07:52:58 -0700 The Census Bureau reports privately-owned housing starts in July were at a seasonally adjusted annual rate of 604 000 This is 1.5 percent below the revised June estimate of 613,000, but is 9.8 percent above the July 2010 rate of 550,000. http://www.calculatedriskblog.com/2011/08/housing-starts-decline-slightly-in-july.html AFD278F8-4A95-4B54-B0B1-6FDA95654AA7 Tue, 16 Aug 2011 07:49:40 -0700 Over the next few weeks, several initiatives aimed at reforming the foreclosure process, holding mortgage lenders and services accountable for their past abuses, and creating more effective mortgage workouts are coming to a head. http://www.latimes.com/business/realestate/la-fi-hiltzik-20110814,0,835988.column 3D662FAE-CB3E-46B1-9BAE-99906AB49328 Tue, 16 Aug 2011 07:43:23 -0700 The Federal Reserve’s announcement last week that it intended to keep credit cheap for at least two more years was a clear invitation to Americans: Go out and borrow. http://www.cnbc.com/id/44143662 FBEE8C77-DD2B-460E-8605-1CB72306FC89 Mon, 15 Aug 2011 07:18:47 -0700 The Residential BuildFax Remodeling Index rose 23% year-over-year--and for the twentieth straight month--in June to 129.5, the highest number in the index to date. http://www.calculatedriskblog.com/2011/08/residential-remodeling-index-at-new.html 1250F364-7E43-49E3-A9AE-235C96987C6F Mon, 15 Aug 2011 07:12:50 -0700 Builder confidence in the market for newly built, single-family homes held unchanged at a low level of 15 on the National Association of Home Builders/Wells Fargo Housing Market Index for August, released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=13212 B23C6BE0-BFEB-40F4-8E04-965DB3E548E8 Mon, 15 Aug 2011 07:08:40 -0700 One out of every two Orange County homes sold in July was either a bank-owned property or a home selling for less than was owed lenders - a short sale - the latest report from Orange County broker Steve Thomas shows. http://www.ocregister.com/articles/distressed-311906-percent-homes.html F0C1DAC2-F872-41DA-A8FD-4733B497EDAE Mon, 15 Aug 2011 06:53:15 -0700 The adjustable-rate mortgage, which has been shunned since the housing boom went bust, is making something of a comeback, albeit a tiny one, figures from DataQuick Information Systems show. http://lansner.ocregister.com/2011/08/12/adjustable-loans-at-3-year-high/120161/ C199D716-EF06-4E4B-BBB3-2BC98F09CA81 Mon, 15 Aug 2011 06:51:39 -0700 Some realtors, home-sellers and economists believe low-ball appraisals also are undermining a housing recovery. http://www.car.org/newsstand/newsreleases/todaysheadlines/wsjarticle/ EB2C77DB-B5D9-48EB-8E14-4845BBE97863 Mon, 15 Aug 2011 06:43:08 -0700 A U.S. appeals court ruled Friday that President Obama's health care law requiring Americans to buy health care insurance or face a penalty was unconstitutional, a blow to the White House. http://www.cnbc.com/id/44121909 65DA9FC2-DB4E-43E2-A478-39AE236C738E Fri, 12 Aug 2011 12:01:45 -0700 Businesses added to their stockpiles for an 18th consecutive month in June, but the increase was the smallest in more than a year. Companies may be less confident amid declining consumer demand and growing fears of a recession. http://finance.yahoo.com/news/Business-stockpiles-and-sales-apf-2606905568.html?x=0&.v=5 18E09922-0128-4072-B0FF-703A83182A9C Fri, 12 Aug 2011 07:52:18 -0700 U.S. consumer sentiment dropped to its lowest point in more than three decades in early August, as fears of a stalled recovery gelled with despair over government policies, a survey released Friday showed. http://www.cnbc.com/id/44119138 59EB0325-A698-42B3-B2EF-0190DF8AAAD6 Fri, 12 Aug 2011 07:50:22 -0700 But the reason isn't rosy: Oil prices are lower because of expectations that the world's economies are headed for a downturn. http://www.latimes.com/business/la-fi-energy-economy-20110812,0,209270.story 25896AE1-81F0-4504-BE00-F21A704C7D6D Fri, 12 Aug 2011 07:46:59 -0700 The National Center for Health reports the provisional count of births in the United States for 2010 was 4,007,000. This count was 3 percent less than the number of births in 2009 and 7 percent less than the all-time high in 2007. http://www.calculatedriskblog.com/2011/08/us-births-decline-in-2010.html C1A0D29B-1336-43B8-8040-ADD509D88BB9 Fri, 12 Aug 2011 07:43:01 -0700 The California Supreme Court announced Thursday that it will hear a challenge by community redevelopment agencies, which are trying to strike down a provision of the state budget that threatens to put them out of existence. http://www.pe.com/business/realestate/stories/PE_News_Local_D_redev12.3aa6ee8.html F5C3A4F7-1F0A-4ED6-849C-23EF4E81858C Fri, 12 Aug 2011 07:35:46 -0700 Housing affordability increased in California in the second quarter as prices dropped from the same period a year earlier, a real estate group said Thursday. http://latimesblogs.latimes.com/money_co/2011/08/housing-affordability-up-in-california-with-home-price-decline.html 423D9E25-8662-4E5B-8DC9-C3BF323241BE Fri, 12 Aug 2011 07:34:01 -0700 The percentage of late-paying mortgage holders—those who were 60 days or more late with payment—decreased in the spring for the sixth straight quarter, according to credit reporting agency TransUnion. http://www.cnbc.com/id/44104545 15809706-7AC8-4FDB-8056-59DDDB79E838 Thu, 11 Aug 2011 08:19:46 -0700 Mortgage rates are continuing to fall amid economic uncertainties and a sagging stock market, with the 30-year home loan available this week at an average 4.32% -- the lowest fixed rate of the year, according to Freddie Mac. http://latimesblogs.latimes.com/money_co/real_estate/ 29F7718F-71C2-4D0D-A4D5-77AAA4593B90 Thu, 11 Aug 2011 08:04:50 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 4.32 percent with an average 0.7 point for the week ending August 11, 2011, down from last week when it averaged 4.39 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=49081 F5FD537A-4CA8-427D-B85C-6CEC85EF4F9F Thu, 11 Aug 2011 08:03:40 -0700 The DOL reports in the week ending August 6, the advance figure for seasonally adjusted initial claims was 395,000, a decrease of 7,000 from the previous week's revised figure of 402,000. http://www.calculatedriskblog.com/2011/08/weekly-initial-unemployment-claims.html 5C9ED9EB-E160-46EB-A96D-517DDCA1B478 Thu, 11 Aug 2011 07:59:36 -0700 Both home buyers and home sellers rated RE/MAX highest in J.D. Power's customer satisfaction report, but not by much, thanks to stiff buyers' market competition. http://realtytimes.com/rtpages/20110811_satisfaction.htm 9A19A1C0-ACA6-422C-A219-6EA1C3A5FF17 Thu, 11 Aug 2011 07:56:25 -0700 Builders in the 55+ housing market are significantly more optimistic about production and demand for multifamily rental units than they are for sales of single-family homes or multifamily condos, according to the latest 55+ Housing Market Indices that are compiled quarterly by the National Association of Home Builders. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=13209 68557E4D-B6A7-4E4D-9189-59F4F41C2405 Thu, 11 Aug 2011 07:54:51 -0700 Foreclosure filings fell to a 44-month low in July, according to RealtyTrac, but the company’s chief executive said processing delays continue to be the driving force behind the drop in foreclosure activity. http://www.marketwatch.com/story/foreclosure-activity-drops-to-44-month-low-2011-08-11 0EF6AC07-5D27-4736-BD79-69B312C3295F Thu, 11 Aug 2011 07:53:16 -0700 By The Big Orange Index’s math for the second quarter, local real estate enjoyed its sixth consecutive advance - but the smallest gain in the streak. Homebuying and lending is down, but hiring and construction are up. http://lansner.ocregister.com/2011/08/11/o-c-property-index-up-again/119571/ 52C06608-0AC7-403F-81BB-97FE35C444E9 Thu, 11 Aug 2011 07:51:34 -0700 The Obama administration is seeking new ideas for what to do with homes landing in the possession of Fannie Mae, Freddie Mac and the Department of Housing and Urban Development as the result of foreclosures. http://www.pe.com/business/realestate/stories/PE_Biz_D_rentals11.31c8602.html 79DB77A5-ACAE-4C91-9571-9A0A759DAB55 Thu, 11 Aug 2011 07:48:04 -0700 The BLS reports the number of job openings in June was 3.1 million, essentially unchanged from May. Although the number of job openings in June was 997,000 higher than in July 2009 it has been relatively flat since February 2011. http://www.calculatedriskblog.com/2011/08/bls-job-openings-essentially-unchanged.html 731E6808-3685-42B1-A578-337E632DE271 Wed, 10 Aug 2011 07:48:38 -0700 Bank of America has agreed to sell part of its home-loan portfolio to mortgage finance giant Fannie Mae as part of its move to shed assets and pare its exposure to an array of mortgage woes, the Wall Street Journal reported on Tuesday. http://www.cnbc.com/id/44088147 7A9A5DBE-DD38-4AB1-AA76-7072D4B8C4A9 Wed, 10 Aug 2011 07:31:13 -0700 Median existing-home prices declined modestly in the second quarter with 27 percent of metropolitan areas experiencing price gains from a year ago, while state home sales declined from the second quarter of 2010, according to the latest quarterly report by the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2011/08/metroprice_q2 28B76B92-D58A-43AB-8C49-2F46A70F16E3 Wed, 10 Aug 2011 07:28:06 -0700 One out of every six homes with a mortgage in Orange County was underwater this past spring, meaning that the owners owed more for the mortgage than their homes were worth, according to a Zillow report out Tuesday. http://lansner.ocregister.com/2011/08/09/1-in-6-local-homes-underwater/119717/ 3E4A4F17-E9AE-4F1A-8EC5-226F611AB22A Wed, 10 Aug 2011 07:25:47 -0700 The MBA reports the Refinance Index increased 30.4 percent from the previous week. The seasonally adjusted Purchase Index decreased 0.9 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/77575.htm E9C379F6-49D4-4742-8AF2-E7DF032320A0 Wed, 10 Aug 2011 07:23:16 -0700 Rates for certain home loans have fallen to new 2011 lows as bond yields continued dropping. http://www.signonsandiego.com/news/2011/aug/09/zillow-mortgage-rates-reach-2011-low/ F6C649A8-DC62-4C82-BE1F-B88CE0980BCE Wed, 10 Aug 2011 07:18:59 -0700 REO inventories have declined over the last couple of quarters. This is a combination of more sales and fewer acquisitions due to the slowdown in the foreclosure process. http://www.calculatedriskblog.com/2011/08/q2-reo-inventory-estimate.html B5C532C1-4B2F-4ADD-996F-B780D1B247AE Wed, 10 Aug 2011 07:16:20 -0700 At least one fear was not realized amid Monday's meltdown: the concern that mortgage rates would immediately shoot higher in response to Standard & Poor's downgrade of Fannie Mae and Freddie Mac, the government-sponsored entities that are the 800-pound gorillas of the mortgage market. http://money.cnn.com/2011/08/09/real_estate/debt_downgrade_mortgage/index.htm?iid=HP_LN 23811714-E0FE-44FA-96A7-5D80289685BD Wed, 10 Aug 2011 07:11:21 -0700 Economic experts from Goldman Sachs to Bank of America and Wells Fargo have upped the odds of a recession to as much as a one in three chance. Nigel Gault, chief economist at IHS Global Insight, placed the odds Friday as high as 40%. http://economy.ocregister.com/2011/08/09/odds-increased-for-a-double-dip-recession/65179/ 8681571F-2B96-4977-8CEF-2DD1FAA74B04 Wed, 10 Aug 2011 07:08:37 -0700 The Federal Reserve sketched a dim outlook for the economy Tuesday, suggesting it will remain weak for two more years. As a result, the Fed said it expects to keep its key interest rate near zero through mid-2013. http://finance.yahoo.com/news/Fed-to-keep-interest-rate-apf-111449019.html?x=0&.v=26 43828388-53EB-4B17-AA6F-14AAD2ED9006 Tue, 9 Aug 2011 14:00:56 -0700 Since April, the price of the American benchmark crude oil has fallen by roughly $30 a barrel, with more than half the drop occurring in just the last two weeks. http://www.cnbc.com/id/44071746 B18F08F3-6592-4F8B-ACC6-971A3C5493EB Tue, 9 Aug 2011 08:08:06 -0700 A CAR survey finds fewer than 3 in 5 short sale transactions closed successfully; more than half of those surveyed said that their last transaction took sixty days or more to receive a written approval or disapproval -- many took much longer; 70% of survey respondents said that their last short sale transaction was difficult or extremely difficult. http://realtytimes.com/rtpages/20110809_shortsale.htm 0FB83D56-92EE-4828-A396-ED18A6BB8437 Tue, 9 Aug 2011 07:57:59 -0700 One out of every two Orange County homes sold in July was either a bank-owned property or a home selling for less than was owed lenders (called a short sale), the latest report from Orange County broker Steve Thomas shows. http://mortgage.ocregister.com/2011/08/09/distressed-homes-account-for-52-of-sales/46759/ C8C93456-506A-4A59-A912-3B0774256E6C Tue, 9 Aug 2011 07:55:04 -0700 Orange County housing deals picked up in July from a year ago, showing that sales are a bit stronger now when compared to the period last year after homebuying tax incentives expired. http://lansner.ocregister.com/2011/08/09/pending-home-deals-get-summer-boost/119689/ 2C295BD8-BB19-48E7-B50A-F6E8CB497B99 Tue, 9 Aug 2011 07:53:53 -0700 Those economic experts who predicted that Standard & Poor's downgrade of U.S. debt would cause mortgage interest rates to rise were proven wrong Monday when instead mortgage rates fell. http://www.pe.com/business/realestate/stories/PE_Biz_D_mortgages09.3581442.html 43FFF905-C8BD-484C-A643-590234DB3FA5 Tue, 9 Aug 2011 07:50:39 -0700 Concern over the future of the U.S. economy -- not ratings-firm downgrades of the U.S. or mortgage finance titans Fannie Mae and Freddie Mac -- remains the biggest threat to the nation’s housing market, experts said. http://latimesblogs.latimes.com/money_co/real_estate/ 26519022-6CE1-4C11-8B8F-D82D7A7EC1CC Tue, 9 Aug 2011 07:49:17 -0700 The American International Group sued Bank of America on Monday over hundreds of mortgage-backed securities, adding to the surge of investors seeking compensation for the troubled mortgages that led to the financial crisis. http://www.nytimes.com/2011/08/08/business/aig-to-sue-bank-of-america-over-mortgage-bonds.html?_r=2&hp 602099F8-9A2E-4363-ACBA-EF086E86A659 Tue, 9 Aug 2011 07:47:27 -0700 President Barack Obama on Monday blamed a downgrade in the United States' credit rating on political gridlock in Washington and said he would offer some recommendations on how to reduce federal deficits. http://www.cnbc.com/id/44061598 7F5270D5-3A62-4ABA-9107-A40A2D01BC24 Tue, 9 Aug 2011 07:46:51 -0700 as it explores the far-reaching effects of its downgrade of the U.S. credit rating it issued last week, rival ratings agency Moody's reaffirmed the country's triple-A status. http://www.cnbc.com/id/44058747 C7418F0A-B177-42FD-9E80-322954ADF12D Tue, 9 Aug 2011 07:46:35 -0700 Over the last few days, I noted that the FHA and Fannie Mae recently sold a record number of REOs (Real Estate Owned), and that their REO inventories are declining. That is interesting data, but just a small part of the overall distressed property picture. http://www.calculatedriskblog.com/2011/08/mortgage-delinquencies-and-reos.html 701D3161-33B6-4110-B076-ED3BA3FC3A81 Mon, 8 Aug 2011 07:02:06 -0700 Last week the FHA reported a record number of Real Estate Owned (REO) sales in June, and a sharp decline in end-of-quarter REO inventory. http://www.calculatedriskblog.com/2011/08/fannie-mae-sells-record-number-of-reo.html A4E01E89-5969-4F6C-805A-D49C3081C1EE Mon, 8 Aug 2011 06:59:17 -0700 Standard & Poor's spoke loudly and clearly when it downgraded US debt, but the Treasury market on Monday didn't appear to be listening. http://www.cnbc.com/id/44057166 EA70A687-57CA-4279-ACB1-E3A10514FF92 Mon, 8 Aug 2011 06:57:41 -0700 Standard & Poor's downgrade of the US' credit rating from AAA for the first time in history, on Friday, was "absurd", Richard Portes, professor of economics at the London Business School, told CNBC Monday. http://www.cnbc.com/id/44056087 4E8429FB-0F13-435F-9F03-27041CE47048 Mon, 8 Aug 2011 06:55:20 -0700 As if there weren’t enough bad economic news this week, Lender Processing Services reported that foreclosure starts were up by more than 10% in June, compared with May. http://www.marketwatch.com/story/foreclosure-starts-rise-10-in-june-2011-08-05 421AC1FC-7862-4DA4-BDB5-30E5D81CA37A Mon, 8 Aug 2011 06:45:43 -0700 The number of troubled borrowers gaining permanent mortgage relief from the administration's main foreclosure assistance program inched up just 3.7% from May to June, the government said Friday. http://latimesblogs.latimes.com/money_co/real_estate/ 5CEBC673-2B37-49E2-B0B6-D8BC074C5058 Mon, 8 Aug 2011 06:38:57 -0700 As the foreclosure crisis continues to wreak havoc on the housing market, a source of national pride has taken a sour turn. Home ownership is on the decline and, according to a recent Morgan Stanley report, the United States is fast becoming a nation of renters. http://money.cnn.com/2011/08/05/real_estate/home_ownership/index.htm?iid=HP_River 342F6ACB-8818-4332-BB5F-B9F424EFE6D6 Mon, 8 Aug 2011 06:37:38 -0700 There were more jobs added in July. The unemployment rate decreased from 9.2% to 9.1%, and the participation rate declined to 63.9%. This is the lowest participation rate since the early ‘80s. http://www.calculatedriskblog.com/2011/08/employment-summary-part-time-workers.html 9FBD9828-098B-4E06-9C9A-3AA72EB95051 Fri, 5 Aug 2011 07:57:25 -0700 Mortgage finance giant Fannie Mae said it would ask for an additional $5.1 billion from taxpayers as it continues to suffer losses on loans made prior to 2009. http://www.cnbc.com/id/44032128 E3424D9C-0F99-4AAE-A0B3-7522F074A78E Fri, 5 Aug 2011 07:52:31 -0700 The U.S. economy added 117,000 jobs in July and an even larger 154,000 in the private sector while the unemployment rate fell to 9.1% from 9.2%, partly because 193,000 people dropped out of the labor force, according to the latest government data. http://www.calculatedriskblog.com/2011/08/july-employment-report-117000-jobs-91.html 8EB60E0B-139A-4209-8594-FF7F0C31565C Fri, 5 Aug 2011 07:44:48 -0700 The market turmoil seen this week has less to do with the U.S. debt ceiling or the crisis in Europe than weak economic numbers for the first half of the year, the downturn in consumer spending and continued weakness in the housing market, Jes Staley, CEO of Investment Bank at JPMorgan Chase, told CNBC Thursday. http://www.cnbc.com/id/44018751 D24EF083-BC3D-44B4-B687-C44BB68FE27C Fri, 5 Aug 2011 07:43:32 -0700 The Bank of New York Mellon, citing an overwhelming influx of cash deposits from large clients in reaction to world economic events, said Thursday it will begin passing along some insurance fees on selected accounts that exceed a depositor's prior monthly average. http://www.cnbc.com/id/44019510 88FEC2CE-86C1-427C-8B7C-F114D3D1BD12 Fri, 5 Aug 2011 07:41:56 -0700 Wells Fargo & Co plans to pay $590 million to settle a class action lawsuit regarding Wachovia preferred securities and debt, the company said on Friday. http://www.mortgagenewsdaily.com/channels/micro_news/archive/2011/8/5.aspx#223346 E0000284-57C9-4C58-A8B7-2E2E1618DE7F Fri, 5 Aug 2011 07:38:03 -0700 David H. Stevens, President and CEO of the Mortgage Bankers Association today supported the introduction of S. 1508, the Homeownership Affordability Act of 2011, a bill that will allow the Federal Housing Administration, Government Sponsored Enterprises and the Veterans Administration to insure home loans at their current maximum levels until December 31, 2013. http://www.mortgagebankers.org/NewsandMedia/PressCenter/77527.htm 9E1EFE21-7D28-456D-85FA-68EA6EE56840 Fri, 5 Aug 2011 07:31:51 -0700 Many local real estate professionals worry that the shakeup on the stock market - fueled by dour economic reports and the widening debt problems in Europe - will only scare already nervous home shoppers even more. http://lansner.ocregister.com/2011/08/04/market-dive-could-rattle-homebuyers/119217/ FEEF3EB2-27FE-4DAA-AE72-4652FD0238FB Fri, 5 Aug 2011 07:29:11 -0700 Bank of America has begun writing down principal on the mortgages of some troubled borrowers in California through a state program intended to help people facing foreclosure. http://latimesblogs.latimes.com/money_co/real_estate/ DBB3ECCB-3491-4230-9FBE-69BED822D9FD Fri, 5 Aug 2011 07:25:07 -0700 C.A.R. lender satisfaction survey finds short-sale process still broken; lenders make no material improvement. Latest survey finds erosion in REALTORS®’ satisfaction with lenders. http://www.car.org/newsstand/newsreleases/surveyfollowup/ 10292F98-F770-4BB9-B3C7-DCAC60DA9E95 Fri, 5 Aug 2011 07:12:25 -0700 States with the biggest declines: California: Down 23,689, due to fewer layoffs in the service industry. http://finance.yahoo.com/news/How-states-fared-on-apf-1142441386.html?x=0&.v=1 ADE740F1-BB76-429D-83E9-CA9DD6C299E7 Thu, 4 Aug 2011 07:34:03 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 4.39 percent with an average 0.8 point for the week ending August 4, 2011, down from last week when it averaged 4.55 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=48837 27D4FD05-FBE3-42AC-B06A-EC6C27528EA6 Thu, 4 Aug 2011 07:30:50 -0700 The DOL reports in In the week ending July 30, the advance figure for seasonally adjusted initial claims was 400,000, a decrease of 1,000 from the previous week's revised figure of 401,000 [from 398,000]. http://www.calculatedriskblog.com/2011/08/weekly-initial-unemployment-claims-at.html 593532B7-0585-421D-91E9-2E00C620C7C3 Thu, 4 Aug 2011 07:29:41 -0700 Lawmakers at a Senate Banking Committee hearing Wednesday were told that reform of government-seized housing finance companies Fannie Mae and Freddie Mac in a manner that limits government guarantees of mortgages would damage the availability of the fixed-rate mortgage. http://www.marketwatch.com/story/congress-told-reform-could-hurt-30-year-mortgage-2011-08-03 9835A053-D626-43B7-8B5A-78C8C6CF9D35 Thu, 4 Aug 2011 07:26:16 -0700 Is there a problem with a California bill that just passed protecting homeowners from deficiency judgments in short sales? Could there be an unintended effect? http://huntingtonhomes.ocregister.com/2011/08/04/will-new-law-on-short-sales-backfire/145083/ B2C5C070-8F11-44F8-9FA5-0F23D42B5569 Thu, 4 Aug 2011 07:24:05 -0700 The city of Tustin issued its first call for developers to help it build homes, offices and stores on unfinished portions of the former Marine Corps Air Station. http://lansner.ocregister.com/2011/08/03/marine-base-redevelopment-takes-off-again/118979/ 6B1FECA8-0721-47FF-84F4-4CC945893085 Thu, 4 Aug 2011 07:17:09 -0700 The mortgage interest deduction, which allows 35 million homeowners to write off their mortgage interest payments, may be in for serious restructuring if ongoing efforts to pare the bulging federal debt are broadened. http://www.sacbee.com/2011/08/03/3812680/mortgage-deduction-could-be-trimmed.html 31EAA550-B3F2-4179-BF9B-37043870B7D9 Thu, 4 Aug 2011 07:13:34 -0700 CoreLogic released its June Home Price Index which shows that home prices in the U.S. increased by 0.7 percent in June 2011 compared to May 2011, the third consecutive month-over-month increase. http://www.calculatedriskblog.com/2011/08/corelogic-home-price-index-increased-07.html B4D675C1-53EB-4670-8D4D-34197197A60A Thu, 4 Aug 2011 07:05:24 -0700 The pace of growth in the U.S. services sector ticked down unexpectedly in July to the lowest level since February 2010 as new orders received by U.S. factories also fell in June, according to reports released Wednesday. http://www.cnbc.com/id/44001763 DF5865E2-366C-44E5-82F5-E6F8E0253A65 Wed, 3 Aug 2011 07:21:13 -0700 Private sector payrolls rose at a faster pace than expected in July, but a surprising increase in layoffs in the sector helped push the number of announced U.S. jobs cuts to a 16-month high, separate reports showed Wednesday. http://www.cnbc.com/id/44000051 F6FE40A7-B60F-4438-864C-2C8168FE7128 Wed, 3 Aug 2011 07:19:14 -0700 The number of homes listed for sale declined sharply in a number of U.S. cities during the second quarter, offering glimmers of hope that some housing markets are starting to recover. http://online.wsj.com/article/SB10001424053111904292504576482560656266884.html?mod=WSJ_RealEstate_LeftTopNews 0B152167-6B90-4EF5-AD67-7C1C94F45D76 Wed, 3 Aug 2011 07:15:51 -0700 The MBA reports the Refinance Index increased 7.8 percent from the previous week. The seasonally adjusted Purchase Index increased 5.1 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/77504.htm F29104F1-03CF-4D22-B1AA-1770E1A0052B Wed, 3 Aug 2011 07:10:16 -0700 Orange County developers resumed building homes with a vengeance this year, with apartments and some condos making up the bulk of the increase, a new building permit report shows. http://lansner.ocregister.com/2011/08/02/o-c-homebuilding-nearly-triple-2010-levels/118931/ D4FEC3BD-B58E-49FF-86C1-7A59D63C2CF9 Wed, 3 Aug 2011 07:08:01 -0700 Despite a longtime policy of fostering home-ownership, the federal government in its struggle to cope with a mountain of foreclosures is evaluating various proposals to encourage lenders or investors to convert foreclosed homes to rentals. http://www.pe.com/business/realestate/stories/PE_News_Local_D_rentals03.3a0741f.html 898E4EFA-2007-4B90-8F8D-A7BE529A6D8F Wed, 3 Aug 2011 07:04:28 -0700 The humiliation of a credit rating downgrade for the U.S. would exact some psychological damage but is widely viewed as less likely to cause any actual carnage on interest rates. http://www.cnbc.com/id/43989306 757B8B65-9250-4550-9213-A94D2CE0DEDA Tue, 2 Aug 2011 15:10:27 -0700 President Barack Obama signed the long-awaited bill that will raise the debt ceiling and cut spending on Tuesday. However, he stated that it is only the first step toward ensuring that the United States lives within its means. http://www.cnbc.com/id/43989561 2EB9D055-F47E-48E7-B016-221FA2A4781D Tue, 2 Aug 2011 15:06:29 -0700 The U.S. Senate on Tuesday approved a last-minute deal to raise the U.S. borrowing limit to avert a catastrophic debt default by the world's largest economy. The bill passed 74 for, and 26 against. http://www.cnbc.com/id/43987965 C2DB108F-7F9F-47EC-B338-51187F640556 Tue, 2 Aug 2011 09:48:59 -0700 Emergency legislation to allow the government to borrow more money headed toward passage in the Senate Tuesday with just hours to spare before the national debt bumps against its ceiling. http://www.cnbc.com/id/43984738 09B43C2A-070C-466A-977B-C8F69F536737 Tue, 2 Aug 2011 07:48:45 -0700 The Commerce Department said on Tuesday consumer spending slipped 0.2 percent, the first drop since September 2009, after edging up 0.1 percent in May. http://www.cnbc.com/id/43984631 3CD3A559-0867-402B-838A-EB9CCC8D46E7 Tue, 2 Aug 2011 07:47:26 -0700 Freddie Mac reports in the second quarter of 2011, 77 percent of homeowners who refinanced their first-lien home mortgage either maintained about the same loan amount or lowered their principal balance by paying-in additional money at the closing table. http://freddiemac.mediaroom.com/index.php?s=12329&item=48719 D839F005-31B1-447D-8F75-B08C2B4D8DBA Tue, 2 Aug 2011 07:37:53 -0700 A proposed rule by federal regulators to impose a minimum 20 percent down payment, stringent debt-to-income ratio requirements and rigid credit standards will deny millions of Americans access to safe, low-cost mortgages, according to the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2011/08/qrm_definition 5249C16D-978A-4EB5-A4CD-D7AA7BC4B3F5 Tue, 2 Aug 2011 07:33:26 -0700 The United States could lose its triple-A credit rating from at least one rating agency this year, raising the question: Who cares? Strange as it may sound, a downgrade could resound in financial markets more with a whimper than a bang. http://www.cnbc.com/id/43981413 AF267AE6-9242-4A78-90E1-1960B20F71CC Mon, 1 Aug 2011 23:21:40 -0700