Latest Real Estate News http://www.insidetract.com http://blogs.law.harvard.edu/tech/rss en-us Tue, 9 Mar 2010 12:53:08 -0800 editor@insidetract.com Tue, 9 Mar 2010 12:35:43 -0800 5 larrystimson@verizon.net FeedForAll v2.0 (2.0.2.9) http://www.feedforall.com The worst looks to be over for private-sector unemployment, but it may be just beginning for state and local government workers. http://www.cnbc.com/id/35777695 C3B8F47A-A934-4587-BBFE-974ED78DDDDC Tue, 9 Mar 2010 12:35:43 -0800 About 11.4 million out-of-work people now collect unemployment compensation and half of them have been receiving payments for more than six months. As benefits are extended, are there any incentives for them to get back to work? http://www.washingtonpost.com/wp-dyn/content/article/2010/03/08/AR2010030804927.html 4EE00BAE-CC74-4BB5-87F9-92A7E614228B Tue, 9 Mar 2010 12:26:30 -0800 A top Federal Reserve official said Tuesday that policy-makers may be accepting a higher level of unemployment as their goal in the future. http://www.cnbc.com/id/35777733 B0ACCA5E-D321-4CF5-9F3C-B556407746FE Tue, 9 Mar 2010 09:57:32 -0800 U.S. employers are slightly less willing to hire workers in the coming quarter than they were three months ago, even as hiring intentions improved in most other countries and territories, especially in Asia, according to a quarterly survey by Manpower. http://www.cnbc.com/id/35774038 C275BFB9-27E5-4C6E-8EC8-2B93D2DBDA5D Tue, 9 Mar 2010 09:56:28 -0800 There were 2.7 million job openings on the last business day of January 2010, the U.S. Bureau of Labor Statistics reported today. http://www.bls.gov/news.release/jolts.nr0.htm 3ED9E34A-65C0-49A8-9A3E-EAFFA60DE530 Tue, 9 Mar 2010 09:53:30 -0800 The Home Design Survey Index of residential billings was up 12 points year over year to 32 in the fourth quarter of 2009, according to the American Institute of Architects. A score below 50 indicates a contraction in demand. http://www.cnbc.com/id/35774099 D037FC16-38A0-4E03-B5C4-632BF38847B4 Tue, 9 Mar 2010 06:37:09 -0800 "...if banks really accounted for all the losses in the home loan market, they'd all be insolvent." http://www.cnbc.com/id/35768105 0C360118-2DEC-408E-BEE4-46BB2CE6592D Tue, 9 Mar 2010 06:32:36 -0800 More than 1 million U.S. households have lost their homes to foreclosure since the end of 2008, new figures from Irvine-based Realty Trac show. http://mortgage.freedomblogging.com/2010/03/08/1-million-u-s-homes-lost-to-foreclosure-since-2008/28179/ 38BD5C7E-E4F9-4FB0-944F-DFBDFFD8891B Tue, 9 Mar 2010 06:24:11 -0800 The number of people choosing to cut their losses and walk away from their homes continues to rise. Studies estimate about one-quarter of all defaults are voluntary "walkaways," also known as strategic defaults. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/03/08/MNAO1C7TT1.DTL&type=realestate&tsp=1 9813B9B7-62EB-41AB-89DB-011005BC7780 Tue, 9 Mar 2010 06:17:22 -0800 Pressure is growing on U.S. banks to ease terms for distressed homeowners on home-equity loans and other second-lien mortgages. http://online.wsj.com/article/SB10001424052748704706304575107770265900644.html?mod=WSJ_Real+Estate_LeftTopNews E170896E-3AE5-432B-A2BA-28A9D9C13380 Tue, 9 Mar 2010 06:16:21 -0800 A low interest rate policy is "clearly appropriate" due to the still struggling economy, a top U.S. bank regulator said Monday, while also expressing frustration that banks are not doing enough to get credit flowing. http://www.cnbc.com/id/35763059 04CB96B4-490E-4DB1-B041-0E89C4B6A285 Mon, 8 Mar 2010 07:39:36 -0800 In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new approach: paying some of them to leave. http://www.cnbc.com/id/35762827 3ED36361-4A7F-4B5A-9D58-17ED585239EA Mon, 8 Mar 2010 07:33:16 -0800 "These banks can’t believe that the regulator they pay to protect them is going to sell these loans to someone who can flip them and cause them serious losses" http://www.bloomberg.com/apps/news?pid=20601109&sid=axnpzq.OM0BY&pos=11 CD7EA8F1-C9DB-483E-8719-8AECB7F522F9 Mon, 8 Mar 2010 07:28:10 -0800 Taking effect on April 5, the program could encourage hundreds of thousands of delinquent borrowers who have not been rescued by the loan modification program to shed their houses through a process known as a short sale. http://www.calculatedriskblog.com/2010/03/short-sales-and-2nd-liens.html FCA5D246-521A-4D36-B4DF-7E4644F6D495 Mon, 8 Mar 2010 07:23:32 -0800 "The number of short sales within the active listing inventory increased by 48 and now totals 2,373." http://mortgage.freedomblogging.com/2010/03/08/foreclosures-still-the-hot-ticket/28097/ 6B7E90CE-53CA-4141-9036-C8156370C4B0 Mon, 8 Mar 2010 07:11:11 -0800 The latest O.C. home inventory report from Steve Thomas at Altera Real Estate says that demand for local homes has fallen 6% in the past two weeks. http://lansner.freedomblogging.com/2010/03/08/demand-for-o-c-homes-falls-6/58685/ 28E7CE76-DBBF-427F-9809-DA1031E96855 Mon, 8 Mar 2010 07:08:39 -0800 Orange County had the nation's biggest price gains for a big housing market in the fourth quarter, says the Federal Housing Finance Agency. http://www.ocregister.com/articles/home-237838-january-percent.html DCA00951-643B-4C51-A9F2-576A5D666F3D Mon, 8 Mar 2010 07:07:42 -0800 Accountants say rising numbers of California taxpayers who did short sales or received loan modifications in 2009 now fear they will be walloped anew by a cash-starved state government intent on taxing their forgiven debt. http://www.fresnobee.com/2010/03/06/1849459/california-tax-law-unsettled-on.html 9D1A1AFB-969C-4B4B-A771-1861D2D4364F Mon, 8 Mar 2010 07:00:04 -0800 What is happening to Village Road in Moreno Valley's Sunnymead Ranch is being repeated on thousands of streets throughout Inland Southern California, a region reeling from a tsunami of foreclosures. http://www.pe.com/localnews/inland/stories/PE_News_Local_W_morenorepo07.45ec0d1.html 2137AF0F-9210-4EB5-84A9-5F8FE336A463 Mon, 8 Mar 2010 06:58:57 -0800 It's a cold winter for apartment investors in Los Angeles County: Rents are down, prices have fallen and vacancies are way up. http://www.car.org/newsstand/newsreleases/todaysheadlines/ ABD34C30-65EF-4122-86E6-0A1B2451B8A1 Mon, 8 Mar 2010 06:56:23 -0800 "Historically, the key to accelerating business growth is innovation; the same principle needs to be applied in a recovering job market." - Sal Iannuzzi, Chairman, President & CEO, Monster Worldwide Inc. http://www.cnbc.com/id/35674448 4CE65865-7C6D-4BC9-8823-8161E2982584 Fri, 5 Mar 2010 06:53:55 -0800 Congressional Democrats on Thursday made headway on their top legislative priority - job creation - when the House of Representatives approved a $15 billion package of tax credits and highway construction. http://www.cnbc.com/id/35712396 3BE4AD35-3260-4EB0-B030-EC741B025031 Fri, 5 Mar 2010 06:43:31 -0800 U.S. employers cut a smaller than expected 36,000 jobs in February, leaving the unemployment rate unchanged at 9.7 percent, according to a government report on Friday which said it was unclear how severe weather had impacted payrolls. http://www.cnbc.com/id/35723327 D1431C57-F1F7-4441-863F-B68D00947C0F Fri, 5 Mar 2010 06:42:47 -0800 "When you take away all the support from the housing market, the underlying demand for housing is a lot weaker than we thought," said Mark Vitner, a senior economist at Wells Fargo Securities LLC in Charlotte, North Carolina. "We clearly pushed some demand forward, and there wasn’t that much demand to pull forward anyway." http://www.bloomberg.com/apps/news?pid=20601087&sid=annIGOlSNpqY&pos=4 734221B8-E6FF-4C2D-A885-3AF088140034 Fri, 5 Mar 2010 06:35:24 -0800 Nonfarm payroll employment was little changed (-36,000) in February, and the unemployment rate held at 9.7 percent, the U.S. Bureau of Labor Statistics reported today. http://www.bls.gov/news.release/empsit.nr0.htm 051FFAAE-BB4B-4734-ACEA-BF61AD33F191 Fri, 5 Mar 2010 06:31:08 -0800 Freddie Mac today announced that 30-year fixed-rate mortgage averaged 4.97 percent for the week ending March 4, 2010, down from last week when it averaged 5.05 percent. http://www.freddiemac.com/pmms/release.html?week=9&year=2010 21221F35-B917-4F8D-BECC-D21013A7C264 Fri, 5 Mar 2010 06:28:24 -0800 The Buyer's Agent is responsible for crafting, presenting, writing a proper contract for, and prompting acceptance of a good offer. Follow these steps: http://realtytimes.com/rtpages/20100305_represent.htm 09097EE5-8F42-4B75-BB23-205A36788142 Fri, 5 Mar 2010 06:26:48 -0800 Fannie Mae wants to sell its housing inventory that it acquired through foreclosures. The properties are listed for sale on HomePath.com. To do so, it's offering buyers incentives for those properties. http://realtytimes.com/rtpages/20100305_homepath.htm 57901D96-51B7-4753-8FDE-AAB077829D26 Fri, 5 Mar 2010 06:25:37 -0800 The newest plan for the ever-evolving Obama Administration's Home Affordable Modification Program (HAMP) also requires lenders (or servicers) to review the documentation and respond with an approval or rejection within 30 days. http://realtytimes.com/rtpages/20100304_speedup.htm F6C16294-E4AF-4FB3-B60F-45188E07F238 Fri, 5 Mar 2010 06:24:12 -0800 A Huntington Beach man who ran loan modification businesses that were shut down after a California State Bar investigation has surrendered his real estate license. http://huntingtonhomes.freedomblogging.com/2010/03/05/loan-mod-president-surrenders-real-estate-license/87943/ 8AA20D5A-BFA0-476E-A850-E0BBFD61A476 Fri, 5 Mar 2010 06:20:58 -0800 The Federal Reserve has pushed mortgage rates to near half-century lows, but millions of U.S. homeowners haven't benefited from that because they can't, or won't, refinance. http://online.wsj.com/article/SB10001424052748704358004575096020101445724.html?mod=WSJ_Real+Estate_RIGHTTopCarousel EC7F09A1-E362-40D7-9AA7-C7E160B7B572 Fri, 5 Mar 2010 06:17:27 -0800 The number of buyers who agreed to purchase previously occupied homes fell sharply in January, a sign that demand for housing is sinking this winter, especially after stormy weather hit much of the country. http://www.cnbc.com/id/35707118 9556A629-EC0F-411E-9E86-EFCDEF4CEC28 Thu, 4 Mar 2010 07:12:12 -0800 Pending home sales are down and additional declines are expected from abnormal weather conditions, according to the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2010/03/phs_down FDDECEA1-2F5D-4B7B-92EA-DB9A4C93B25A Thu, 4 Mar 2010 07:06:12 -0800 New claims for jobless benefits fell last week in a sign that layoffs may be easing as the economy slowly recovers. http://www.cnbc.com/id/35704613 066BFAAF-956E-45A5-9C2C-684B20B21EC0 Thu, 4 Mar 2010 07:04:41 -0800 In the week ending Feb. 27, the advance figure for seasonally adjusted initial claims was 469,000, a decrease of 29,000 from the previous week's revised figure of 498,000. http://ows.doleta.gov/press/2010/030410.asp 9816E602-1C9E-494F-A31C-20344832AD3A Thu, 4 Mar 2010 06:55:21 -0800 The bankers are once again attempting to tilt the system in their favor by trying to turn Florida into a "non-judicial" foreclosure state. http://realtytimes.com/rtpages/20100303_banks.htm 94DDCE1B-CC54-4862-B5C2-F084933B7FAA Wed, 3 Mar 2010 13:42:00 -0800 With less than six weeks before taxes are due, an estimated 16,000 former homeowners statewide will owe $15 million in extra income taxes this year and $29 million through 2012. http://www.signonsandiego.com/news/2010/mar/03/hefty-tax-bill-may-hit-those-who-lost-home/ 9D3BD894-E291-40DF-A06F-D926AD0B1A72 Wed, 3 Mar 2010 13:37:32 -0800 Two weeks before their Sunnyvale home was to be auctioned off on the courthouse steps, Sonia Leverman and her sons seized on a desperate David-vs.-Goliath strategy: They sued their lender. http://www.mercurynews.com/top-stories/ci_14500350 CD0CFED0-812D-4063-8391-71710190B121 Wed, 3 Mar 2010 13:36:01 -0800 Lenders who already have realized $1.5 trillion in losses due to home foreclosures could see their losses mount to an estimated $2.1 trillion to $3.8 trillion before all the bad loans are wiped off their books, a Riverside real estate expert told a gathering over the weekend. http://blogs.pe.com/business/2010/03/loan-losses-from-home-foreclos.html 16E81F2E-9F05-4CC5-BD24-E4ED9F2BFE53 Wed, 3 Mar 2010 13:35:01 -0800 The U.S. services sector grew in February at its fastest pace in more than two years, according to an industry report released Wednesday. http://www.cnbc.com/id/35686964 20B62A4F-D202-4EEF-83EC-13BF83F8CE4B Wed, 3 Mar 2010 07:47:30 -0800 The US economy is unlikely to go into a double-dip recession, but the recovery will be anemic, Dallas Federal Reserve President Richard Fisher told CNBC Wednesday. http://www.cnbc.com/id/35684926 ED705E21-6CFB-4205-AF4F-699EE0A4A37D Wed, 3 Mar 2010 07:18:54 -0800 US private employers shed 20,000 jobs in February, fewer than the 60,000 jobs lost in January, while planned job cuts fell to their lowest level in four years, separate reports showed Wednesday. http://www.cnbc.com/id/35684296 AEC7FF5A-BFD4-4B6A-8E11-DBADF213366C Wed, 3 Mar 2010 07:17:30 -0800 U.S mortgage rates retreated below 5 percent last week, propping demand for home loans after purchase applications sank to a nearly 13-year low the prior week, Mortgage Bankers Association data showed on Wednesday. http://www.cnbc.com/id/35683999 C3B7300D-1943-47C2-8E78-9FAD314E24F3 Wed, 3 Mar 2010 07:16:33 -0800 The Mortgage Bankers Association announced that mortgage loan applications increased 14.6 percent for the week ending February 26, 2010, up 14.6 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/72000.htm F5843860-AF36-4E88-935D-5542D740C3F3 Wed, 3 Mar 2010 07:12:37 -0800 Nonfarm private employment decreased 20,000 from January to February 2010 on a seasonally adjusted basis, according to the ADP National Employment Report®. http://www.adpemploymentreport.com/pdf/FINAL_Report_February_10.pdf C58BBB10-8ED1-40CA-8E52-FFAB4A850DF5 Wed, 3 Mar 2010 07:10:52 -0800 Orange County is the nation's best housing market according to the Federal Housing Finance Agency. http://lansner.freedomblogging.com/2010/03/03/o-c-hottest-u-s-housing-market/58247/ 77D237A1-8D7C-43FC-9A0E-FFB548F71C47 Wed, 3 Mar 2010 07:05:47 -0800 “The reasons for being dissatisfied with their agents were more closely related to market conditions than to agent performance,” says the California Association of Realtors, which did a survey showing, among other things, how much people like or dislike their agents. http://lansner.freedomblogging.com/2010/03/02/hate-your-real-estate-agent-heres-why/57739/ 5B8BCED4-3C3F-45F5-8E3A-266DF84B0172 Wed, 3 Mar 2010 07:05:06 -0800 Congressional Republicans, nervous over the fallout from an impasse over jobs legislation, said Tuesday they were nearing a deal to end a standoff that has disrupted highway construction projects and unemployment benefits for hundreds of thousands of Americans. http://www.cnbc.com/id/35675734 7D277CA2-405D-4CC0-ADE6-343DB49EACF2 Tue, 2 Mar 2010 16:05:38 -0800 President Barack Obama Tuesday proposed rebates of up to $3,000 to help homeowners pay for the cost of making their homes more energy efficient as part of a $6 billion program to create jobs. http://www.cnbc.com/id/35673393 9FB5A344-4F39-49D6-AF71-32E30B67AB9D Tue, 2 Mar 2010 16:02:56 -0800 A survey of U.S. business leaders showed continued uneasiness about the U.S. economy, with the majority expecting that the economy will not improve until next year or later. http://www.cnbc.com/id/35659602 7B0DC588-84F5-4E50-8FDE-E73DC42A4218 Tue, 2 Mar 2010 07:57:36 -0800 The Federal Reserve should raise interest rates sooner rather than later, and though it would be difficult to raise them right now, the effects would be very minor if they were raised gradually, Kansas City Fed President Thomas Hoenig told CNBC Tuesday. http://www.cnbc.com/id/35662422 10E4359D-9AE6-4831-8813-47282674A62F Tue, 2 Mar 2010 07:56:41 -0800 DataQuick has released foreclosure activity for Q4 based on the number of notices of default (the first step towards foreclosure) filed with the county recorder’s office. http://southcoasthomes.freedomblogging.com/2010/03/01/south-coast-homes-in-default-up-over-year/ C3E078AE-DA32-46CC-9741-2308A41F0C51 Tue, 2 Mar 2010 07:41:06 -0800 Fannie and Freddie will allow borrowers to refinance up to 125% LTV in order to give underwater borrowers incentive to stay put. http://www.cnbc.com/id/35649517 B8A80408-54D0-49CB-87B0-69D3DE148BE1 Mon, 1 Mar 2010 16:18:09 -0800 The total amount spent on an agents’ key network in January for Orange County home purchases rebounded past depressed January ‘08 and January ‘09, the Southern California Multiple Listing Service reported. http://lansner.freedomblogging.com/2010/03/01/best-jan-for-real-estate-agents-in-3-years/57617/ 3C0DF76B-72B2-4A16-AC9B-04D90AF41251 Mon, 1 Mar 2010 11:56:13 -0800 Despite some reports that suggest the housing crisis may be hitting bottom, foreclosures so far represent the “tip of the iceberg,” real estate analyst, investor and lender Bruce Norris says. http://mortgage.freedomblogging.com/2010/03/01/foreclosures-so-far-just-tip-of-the-iceberg/27773/ D934F32D-25FF-42F3-83D8-F06ABEE11551 Mon, 1 Mar 2010 11:54:27 -0800 Orange County home sales for less than a residence’s total debt increased 33.8% in January from the year before, Southern California Multiple Listing Service figures show. http://mortgage.freedomblogging.com/2010/03/01/o-c-short-sales-up-34-in-january/27729/ 00A2B6D2-CFD1-40FF-8D22-02D963F4685C Mon, 1 Mar 2010 11:52:41 -0800 U.S. construction spending fell for a third straight month to its lowest level since June 2003 in January, pulled down by a slump in private nonresidential spending and weak public construction, a government report showed on Monday. http://www.cnbc.com/id/35643054 600B2A58-1C96-49F4-A9A4-1A430908E124 Mon, 1 Mar 2010 11:35:37 -0800 U.S. consumer spending increased slightly faster than expected in January as consumers dipped into their savings amid a small rise in incomes, which could help sustain the economic recovery. http://www.cnbc.com/id/35641097 492F581D-CE5F-4652-874A-29BECF48D408 Mon, 1 Mar 2010 06:30:18 -0800 Personal income increased $11.4 billion, or 0.1 percent, and disposable personal income (DPI) decreased $47.6 billion, or 0.4 percent, in January, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $52.4 billion, or 0.5 percent. http://www.calculatedriskblog.com/2010/03/january-personal-income-flat-spending.html 24A8DF0E-2BBC-41E3-BF38-9144679B7C5F Mon, 1 Mar 2010 06:23:58 -0800 Personal income increased $11.4 billion, or 0.1 percent, and disposable personal income (DPI) decreased $47.6 billion, or 0.4 percent, in January, according to the Bureau of Economic Analysis. http://www.bea.gov/newsreleases/national/pi/pinewsrelease.htm A25E8E1B-77AF-4E20-80E7-0AA90D7609B9 Mon, 1 Mar 2010 06:22:55 -0800 Nearly 1.2 million unemployed Americans face an imminent cutoff of government unemployment checks if Congress cannot pass emergency legislation to extend federal benefits before funding expires Sunday. http://www.calculatedriskblog.com/2010/02/12-million-to-lose-unemployment.html C02C10DE-FBFF-400D-BBBA-558A051EB1EA Mon, 1 Mar 2010 06:21:11 -0800 The National Association of Realtors said sales fell 7.2 percent from December's level to an annual rate of 5.05 million units, sharply below market expectations for a 5.50 million unit pace. http://www.cnbc.com/id/35602295 B52C6C8D-4C52-4478-99D5-9EC44D0822A8 Fri, 26 Feb 2010 09:07:50 -0800 Sales in January 2010 were 7% higher than in January 2009, and slightly lower than in January 2008. http://www.calculatedriskblog.com/2010/02/more-on-existing-home-sales.html A3775248-5283-45BA-8DFF-279CB1CA655B Fri, 26 Feb 2010 09:04:24 -0800 Existing-home sales fell in January but are above year-ago levels, according to the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2010/02/ehs_january2010 E181C8D8-1DF3-49F3-A42D-287FDABF8C72 Fri, 26 Feb 2010 08:54:27 -0800 The U.S. economy grew a touch faster than initially thought in the fourth quarter as businesses drew down inventories at a much slower pace and boosted investment, a government report showed Friday. http://www.cnbc.com/id/35601042 4B84F6D2-82CD-437A-BA8A-C45F96212C0F Fri, 26 Feb 2010 06:56:32 -0800 The recent slump in housing is making some analysts uneasy about a recovery that many thought sustainable just a couple months ago and comes at a time when the Federal Reserve is nearing the end of a critical, year-long program to support the mortgage market. http://www.cnbc.com/id/35589633 91D744E8-B89B-4442-9010-3A31EC278021 Fri, 26 Feb 2010 06:54:49 -0800 Freddie Mac announced today that on or about September 1, 2010, the company will cease purchasing and securitizing interest only mortgages, including Freddie Mac Initial InterestSM fixed-rate and adjustable-rate mortgages. http://www.freddiemac.com/news/archives/mbs/2010/20100226_initial_interest_mortgages.html 708A1943-EB28-4DBB-9AF2-E486658AACA5 Fri, 26 Feb 2010 06:51:01 -0800 Most California homesellers — a whopping 67% – who sold their homes last year couldn’t pay their mortgages, a survey by the California Association of Realtors shows. http://lansner.freedomblogging.com/2010/02/26/financial-woes-lead-to-most-home-sales/57447/ 30D34094-5DE1-4235-9E2B-A6C349C731B9 Fri, 26 Feb 2010 06:39:44 -0800 First American CoreLogic has some relatively new math for tracking home pricing that includes a monthly forecast for the next 12 months of activity. And this metric has just done a 360-degree spin. http://lansner.freedomblogging.com/2010/02/25/o-c-home-prices-seen-rising-2-6-in-a-year/57535/ 01C5DE21-A64E-4A43-B1FD-0952CD3700E2 Fri, 26 Feb 2010 06:37:18 -0800 A government index shows home prices fell slightly in the fourth quarter of last year from the previous quarter, but remained stable. http://www.cnbc.com/id/35584017 E9B6B56C-654E-4FF1-B9E9-58CDE2898F19 Thu, 25 Feb 2010 13:41:37 -0800 The Consumer Price Index math for Southern California housing cost inflation rose 0.2% last year, says the Bureau of Labor Statistics http://lansner.freedomblogging.com/2010/02/25/socal-housing-inflation-at-historic-low/57433/ 01507BE4-9684-49F8-93AF-5F269F6F1114 Thu, 25 Feb 2010 10:00:30 -0800 U.S. mortgage rates rose for the first time in three weeks, leaping above 5 percent, a key level that could suppress home loan demand, a closely watched mortgage survey showed Thursday. http://www.cnbc.com/id/35582486 3EED7E2C-6F86-4A2E-A325-A0525DD9D6F5 Thu, 25 Feb 2010 09:52:11 -0800 Freddie Mac announced that 30-year fixed-rate mortgage averaged 5.05 percent for the week ending February 25, 2010, up from 4.93 percent last week. http://www.freddiemac.com/pmms/release.html?week=8&year=2010 712202F2-0290-4DDF-A208-191018CD0C27 Thu, 25 Feb 2010 09:48:37 -0800 The affordability of the typical Orange County home finished 2009 at a year’s low and fourth worst in the nation based on the latest housing math of the National Association of Home Builders and Wells Fargo Bank. http://lansner.freedomblogging.com/2010/02/25/o-c-home-affordability-4th-worst-in-u-s/57405/ 2F0F3415-0080-4DDF-AADF-6E1AA178C9E7 Thu, 25 Feb 2010 06:51:16 -0800 Newport Beach-based home builder William Lyon Homes reported today that it sold land at a 77% loss in 2009. http://lansner.freedomblogging.com/2010/02/24/land-sales-cost-homebuilder-110-million-in-09/57267/ E96A08E6-4CE4-4D5D-8459-2F6D20D8D562 Thu, 25 Feb 2010 06:50:25 -0800 Homeowners filing for the home buyer tax credit are not allowed to use electronic filing and must file hard copies due to special documentation requirements. http://realtytimes.com/rtpages/20100225_taxcredit.htm 9349A5F2-ADE4-497D-8915-1DAFC774B9F1 Thu, 25 Feb 2010 06:46:33 -0800 There is no way to spin it. Commercial real estate is in serious trouble, and without financing it will get worse. http://realtytimes.com/rtpages/20100225_losses.htm 98356442-947D-4F25-9C40-979991586F63 Thu, 25 Feb 2010 06:45:07 -0800 The recovery from the recession may also end up being one of the longest in our history. In fact, it may take years just to get back to the level of output we enjoyed in 2007, just before the economic crisis began. http://www.calculatedriskblog.com/2010/02/feds-pianalto-may-take-years-to-get.html FF52AB2C-F682-439A-81E1-80D428454A0D Thu, 25 Feb 2010 06:43:31 -0800 New orders for long-lasting U.S. manufactured goods excluding transportation unexpectedly fell in January, while the number of workers filing for jobless benefits rose last week, suggesting a loss of momentum in the pace of economic recovery. http://www.cnbc.com/id/35580054 57FBA9AC-A8BF-4575-845D-B53DE9543F06 Thu, 25 Feb 2010 06:41:42 -0800 In the week ending Feb. 20, the advance figure for seasonally adjusted initial claims was 496,000, an increase of 22,000 from the previous week's revised figure of 474,000. The 4-week moving average was 473,750, an increase of 6,000 from the previous week's revised average of 467,750. http://www.workforcesecurity.doleta.gov/press/2010/022510.asp C4A01B62-CFFF-4BCF-B96D-16445116A6E2 Thu, 25 Feb 2010 06:40:35 -0800 The meltdown sent interest rates soaring and availability shrinking, but rates are declining and lenders are more willing to make loans that top the limits for Freddie Mac, Fannie Mae and the FHA http://www.latimes.com/business/la-fi-jumbo-loans24-2010feb24,0,1111820.story 39B215FD-85DA-4976-80B4-CDD1921897CA Thu, 25 Feb 2010 06:38:37 -0800 Sales of newly built homes unexpectedly plummeted in January to their lowest level in nearly five decades, providing more evidence of the housing market's fragility. http://www.washingtonpost.com/wp-dyn/content/article/2010/02/24/AR2010022402108.html?hpid=topnews 9BA49B8F-AD7A-42D6-971C-798F0847B096 Thu, 25 Feb 2010 06:35:43 -0800 Sales of newly built U.S. single-family homes unexpectedly fell to a record low in January, according to government data on Wednesday that hinted at potential trouble for the fragile housing market recovery. http://www.cnbc.com/id/35560213 7C420794-8F11-4A21-A9DD-EBCC16ECA210 Thu, 25 Feb 2010 06:32:22 -0800 The fact of the matter is that Fannie and Freddie are just about the only things supporting the housing market right now. http://www.cnbc.com/id/35565737 24A0AA1F-84F3-4462-B922-8A7C67BAC255 Thu, 25 Feb 2010 06:28:15 -0800 About 97,000 homeowners in the government’s mortgage modification program have been stuck in a trial period for over six months. Most of them, about 60,000, have their mortgages with a single mortgage servicer, JPMorgan Chase. http://www.calculatedriskblog.com/2010/02/97000-homeowners-in-loan-mod-limbo.html B3380003-576A-4AD6-AE55-DBEE5363938A Thu, 25 Feb 2010 06:03:25 -0800 Mortgage rates, which many feared would rise sharply when the Federal Reserve stops propping up the market at the end of March, may actually not budge much at all, analysts say. http://www.cnbc.com/id/35563022 BDB868D7-2C73-43D8-86AC-FC3E8C7AE5C5 Wed, 24 Feb 2010 13:32:29 -0800 The U.S. Senate Wednesday approved a $15 billion package of tax breaks and highway spending that aims to bring down the country's stubbornly high unemployment rate. http://www.cnbc.com/id/35561767 1A96B2DC-0DC4-444D-A4FD-E0CDC799953A Wed, 24 Feb 2010 08:31:53 -0800 For the first time since the start of the economic downturn, every state and the District of Columbia reported losing construction jobs over the past twelve months. http://realtytimes.com/rtpages/20100224_losejobs.htm E96023BC-E3B0-4CA5-B3EC-C0CFE6D85C5E Wed, 24 Feb 2010 08:26:39 -0800 Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that a weak job market and low inflation would likely allow the central bank to keep interest rates at very low levels for "an extended period." http://www.cnbc.com/id/35560220 39EFF379-F607-4C34-8311-1D1A5AA54C24 Wed, 24 Feb 2010 08:22:33 -0800 U.S. luxury homebuilder Toll Brothers posted a narrower-than-expected quarterly loss as writedowns fell and said it sees improvement in the housing market, sending shares up in premarket trading. http://www.cnbc.com/id/35559801 2E70BCFA-6001-44A0-B39F-00EE6D0FB5B0 Wed, 24 Feb 2010 08:21:25 -0800 Freddie Mac lost $7.8 billion in the final three months of last year, but the mortgage finance company didn't need a federal cash infusion for the third quarter in a row. http://www.cnbc.com/id/35560015 A374052D-A7D5-49F3-84D0-6240EB13972F Wed, 24 Feb 2010 08:20:40 -0800 The Mortgage Bankers Association announced today that mortgage loan application volume decreased 8.5 percent compared to one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/71948.htm 8EF848A4-F22A-43E7-BAC7-9071CD3A4D3A Wed, 24 Feb 2010 08:14:57 -0800 The Census Bureau reports New Home Sales in January were at a seasonally adjusted annual rate (SAAR) of 309 thousand. This is a record low and a sharp decrease from the revised rate of 348 thousand in December. http://www.calculatedriskblog.com/2010/02/new-home-sales-fall-to-record-low-in.html 74EF07A0-9FAD-45CA-BC7D-45986EC4792C Wed, 24 Feb 2010 07:26:39 -0800 U.S. congressional leaders said Tuesday they could get a job-creating bill through both houses soon for President Barack Obama to sign into law. http://www.cnbc.com/id/35539507 790DE98C-3160-4A86-BABB-1793F8C73BAF Tue, 23 Feb 2010 19:19:15 -0800 The FDIC listed 702 banks with $403 billion in assets as “problem” banks in Q4, up from 552 banks with $346 billion in assets in Q3, and 252 and $159.4 billion in assets in Q4 2008. http://www.calculatedriskblog.com/2010/02/fdic-q4-banking-profile-702-problem.html 019F300D-B56A-4BFC-8832-C7889B69A433 Tue, 23 Feb 2010 19:14:37 -0800 First American CoreLogic reported today that more than 11.3 million, or 24 percent, of all residential properties with mortgages, were in negative equity at the end of the fourth quarter of 2009, up from 10.7 million and 23 percent at the end of the third quarter of 2009. http://www.calculatedriskblog.com/2010/02/q4-report-113-million-us-properties.html F6CAD652-EC90-4CCE-9F09-07C950874543 Tue, 23 Feb 2010 19:10:50 -0800 Although the economy has been growing lately, fallout from the recent recession continued to negatively impact commercial real estate sectors in the fourth quarter, but there is hope for some improvement next year. http://www.realtor.org/press_room/news_releases/2010/02/commercial_recovery 24B090E3-1687-4645-90D6-A99F7B04DC27 Tue, 23 Feb 2010 08:07:47 -0800 Nearly 20 percent of the U.S. workforce lacked adequate employment in January and struggled to make ends meet with reduced resources and bleak job prospects, according to a Gallup poll released Tuesday. http://www.cnbc.com/id/35535193 FCED4C92-3184-4D62-81E2-E55639FA53C6 Tue, 23 Feb 2010 08:03:28 -0800 U.S. home prices fell in December but were up when adjusted for seasonal factors, according to the S&P Case-Shiller home-price indexes, as yearly declines continued to ease. http://online.wsj.com/article/SB10001424052748704188104575083234096597738.html F726D533-4EC0-4DA2-AA00-65B3D25E570B Tue, 23 Feb 2010 07:05:52 -0800 U.S. home prices unexpectedly slipped in December but the annual rate of decline slowed, reinforcing the housing market's rocky road to recovery, Standard & Poor's/Case-Shiller indexes showed on Tuesday. http://www.cnbc.com/id/35537147 8E6F2957-3A5D-4E1B-8B7F-E131805521DD Tue, 23 Feb 2010 07:03:45 -0800 Home prices rose for the seventh straight month in December, a sign of price stability as the U.S. housing market continues its bumpy road to recovery. http://finance.yahoo.com/news/Home-prices-rise-03-percent-apf-3958167088.html?x=0&.v=6 5312D32F-A217-48A0-B481-E0D0912E82DA Tue, 23 Feb 2010 07:02:39 -0800 The U.S. Treasury is considering new guidelines to mortgage lenders that would give distressed borrowers more time to try to qualify for a federal program aimed at averting foreclosures. http://online.wsj.com/article/SB10001424052748704454304575081841444972582.html 81A39ADE-BA25-4DED-A524-54F3F812356B Mon, 22 Feb 2010 15:08:04 -0800 Unlike residential real estate, which anyone with a pulse would agree took a rather desperate tumble over the last several years, the existence of a commercial real estate crash continues to be a subject of debate. http://www.cnbc.com/id/35526519 33FA003D-46ED-4373-8281-2AFDE605E8F0 Mon, 22 Feb 2010 14:55:26 -0800 Record-low interest rates are still needed to foster the economic recovery and to relieve high unemployment, a Federal Reserve official said Monday. http://www.cnbc.com/id/35523040 697E2660-730B-422A-82C0-ECC448AEDAA9 Mon, 22 Feb 2010 14:53:34 -0800 Homeowners in trouble with their mortgages are warned to stay away from the latest ploy to grab their money: Services charging up-front fees for a forensic review of a lender’s practices but it doesn’t help in avoiding foreclosure. http://mortgage.freedomblogging.com/2010/02/22/warning-avoid-new-phony-repo-relief-pitch/27209/ 78821190-7BD0-4C2D-82C9-E1A3590D4118 Mon, 22 Feb 2010 14:48:59 -0800 Despite the state's high unemployment rate, California's economy is making a slow comeback and "the worst is over," Gov. Arnold Schwarzenegger said today. http://www.sacbee.com/2010/02/21/2553433/schwarzenegger-proclaims-the-worst.html?storylink=lingospot 0E1A3C0A-6C01-4AC1-AA70-5A18F3468E28 Mon, 22 Feb 2010 14:46:34 -0800 The National Association of Realtors and other industry groups are beginning to make the rounds on Capitol Hill to press their case, which goes something like this: We know you’ve extended the tax credit two times already, but the housing market is still fragile, the tax credit is working, and don’t forget– you’re up for re-election soon. http://blogs.wsj.com/developments/2010/02/22/take-three-will-congress-extend-the-home-buyer-tax-credit/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+wsj%2Fdevelopments%2Ffeed+%28WSJ.com%3A+Developments+Blog%29&mod=WSJ_Real+Estate_BLOGSDEVELOPMENTSFEED 4EB893C4-37B5-4EAC-BA4B-444E8E8B867A Mon, 22 Feb 2010 14:41:33 -0800 According to the latest Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions, short sales accounted for a substantial 15.9% of home purchase transactions in January http://www.calculatedriskblog.com/2010/02/survey-short-sales-increase-in-january.html 3DDAEC38-AEE6-4C1D-929B-396EAA5EF5A2 Mon, 22 Feb 2010 14:39:45 -0800 More generations are living under the same roof and the trend will deepen as U.S. families grappling with near double-digit unemployment share expenses, a study showed Monday. http://www.cnbc.com/id/35517749 C8ACFAC5-439D-4CBF-944D-6B4AD5CA6427 Mon, 22 Feb 2010 08:11:27 -0800 How lenders decide whether to modify your mortgage http://www.marketwatch.com/story/how-lenders-decide-whether-to-modify-a-mortgage-2010-02-19 52BE6DB0-F30B-4B7A-997B-652EA4C9C14E Mon, 22 Feb 2010 08:09:26 -0800 The short sale process isn’t working and has created a deluge of pending sales that take forever to close. http://mortgage.freedomblogging.com/2010/02/22/short-sale-process-absolute-crapshoot/26993/ 4CBB68DC-5DEF-4BA1-A445-9C6745752CED Mon, 22 Feb 2010 08:04:36 -0800 New resources from the National Association of Realtors® aim to help Realtors® and consumers successfully navigate the short sale process to help more homeowners avoid foreclosure. http://www.realtor.org/press_room/news_releases/2010/02/short_sales F14BBF65-3323-4368-8282-5FDA3715929E Mon, 22 Feb 2010 08:03:14 -0800 The Obama administration came out with a score card on its anti-foreclosure program last week, and there's just one word for it: Minimal. http://realtytimes.com/rtpages/20100222_washingtonreport.htm 3107DCCA-C9B2-4E8C-B954-3939F9B5E133 Mon, 22 Feb 2010 08:01:40 -0800 According to the Wall Street Journal the nation has a inventory of 5 million units of unlisted foreclosed homes. This "shadow inventory" is equal to about 13 months supply of unlisted foreclosed homes in Orange County. http://lansner.freedomblogging.com/2010/02/19/loan-mods-wont-halt-foreclosures-study-shows/56801/ 04DC310B-1399-485A-B15F-445C4B51FE0C Sun, 21 Feb 2010 13:12:54 -0800 An estimated 27,858 new and resale houses and condos were sold statewide last month. That was down 33.4 percent from 41,837 in December, and down 5.4 percent from 29,458 for January 2009. http://www.dqnews.com/Articles/2010/News/California/RRCA100218.aspx 13550CE6-1A08-490F-ABC0-E0F644F5B8DC Sun, 21 Feb 2010 13:09:38 -0800 Under pressure to do more for troubled homeowners, President Obama announced Friday a $1.5 billion program to help borrowers in the five states hit hardest by the housing crisis. http://money.cnn.com/2010/02/19/real_estate/housing_help_unemployed/index.htm 8D92F9E0-283C-40AB-8451-57C63F0D7957 Sun, 21 Feb 2010 13:06:00 -0800 As MBA Chief Economist Jay Brinkmann noted, the 90 day and 'in foreclosure' rates are at record levels. Obviously the lenders have been slow to start foreclosure proceedings - and the 90+ day delinquent bucket is now very full. And lenders have been slow to actually foreclose - and the 'in foreclosure' bucket is at record levels. http://www.calculatedriskblog.com/2010/02/mortgage-delinquencies-by-period.html 4892C70F-D343-4DA3-9F71-1DD370C363EB Fri, 19 Feb 2010 15:03:36 -0800 Today President Obama stood in Nevada, ground zero for the foreclosure crisis, a state with 13 percent unemployment, and announced another pricey program to keep borrowers in their homes. http://www.cnbc.com/id/35480131 B8BCEE36-A7C3-4579-BF08-D57996CB5EA8 Fri, 19 Feb 2010 14:59:00 -0800 "All us cabbies would be happy if he stayed home." http://www.cnbc.com/id/35478383 81CDC043-713C-47BE-913B-59E8C790BB98 Fri, 19 Feb 2010 14:54:15 -0800 Freddie Mac today released the results of its Primary Mortgage Market Survey® in which the 30-year fixed-rate mortgage averaged 4.93 percent for the week ending February 18, 2010, down from last week when it averaged 4.97 percent. http://www.freddiemac.com/pmms/release.html?week=7&year=2010 9255EFF8-8D70-4CF0-8292-70A2AEAE81DA Fri, 19 Feb 2010 08:48:47 -0800 The delinquency rate for mortgage loans on one-to-four-unit residential properties fell to 9.47 percent of all loans outstanding, down 17 basis points from the third quarter of 2009, but up 159 basis points from one year ago. http://www.mortgagebankers.org/NewsandMedia/PressCenter/71891.htm 9DAB2522-B714-49E8-BF98-B69D8B6198EE Fri, 19 Feb 2010 08:44:29 -0800 Market conditions for residential remodeling tumbled downward during the fourth quarter of 2009, according to the latest National Association of Home Builders’ Remodeling Market Index. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=10349 ADC43F7A-1D8A-44FC-B46A-B65A7FA73C50 Fri, 19 Feb 2010 08:43:10 -0800 Wayne Bryant and his wife have just stopped paying the mortgage on their home in northern California, even though they can afford to pay. The reason? Because, Bryant says, the value of the house is less than what they owe. http://www.cnbc.com/id/35426944 275AFF6F-192F-4888-9A9C-832B8575BFC1 Thu, 18 Feb 2010 15:27:50 -0800 The Federal Reserve said on Thursday it was raising the interest rate it charges banks for emergency loans, citing improvement in financial market conditions. http://www.cnbc.com/id/35465481 4DCDF7C3-0F19-4668-B38E-B91CF5ACDAEF Thu, 18 Feb 2010 13:45:45 -0800 President Barack Obama signed an order Thursday unilaterally creating a bipartisan commission to rein in unruly deficits after Congress rejected a similar body with considerably more enforcement power. http://www.cnbc.com/id/35459300 0D8AA7D4-7AB6-4DA8-A71F-54B6ECAE1ED1 Thu, 18 Feb 2010 13:44:30 -0800 Banks' resistance to the tricky transactions is softening as the number of distressed properties increases. http://www.latimes.com/business/la-fi-short-sales18-2010feb18,0,7787310.story D8433D37-9E8F-4D2B-8FA0-6AE022A02680 Thu, 18 Feb 2010 13:42:49 -0800 On a month-over-month basis the national average of home prices declined moderately, falling by 1.0 percent in December 2009 compared to November 2009, indicating seasonal slowing in a fledging housing recovery. http://www.calculatedriskblog.com/2010/02/first-american-corelogic-house-prices.html 4F28E7B0-09A9-49CB-9A2F-A2BCC62C1875 Thu, 18 Feb 2010 13:40:57 -0800 The number of U.S. workers filing new applications for unemployment insurance unexpectedly surged last week, while producer prices increased sharply in January, raising potential hurdles for the economic recovery. http://www.cnbc.com/id/35457298 E6EB566E-18BA-4F62-ABE5-99484736B84A Thu, 18 Feb 2010 07:52:58 -0800 In the week ending Feb. 13, the advance figure for seasonally adjusted initial claims was 473,000, an increase of 31,000 from the previous week's revised figure of 442,000. http://www.calculatedriskblog.com/2010/02/weekly-initial-unemployment-claims_18.html BB1EE9DC-BEE3-48DC-B370-E241B1622435 Thu, 18 Feb 2010 07:43:45 -0800 Nationwide housing affordability, bolstered by favorable interest rates and low house prices, closed out the year near its highest level since the series was first compiled 18 years ago, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=10347 3770E9C7-F154-4D0D-A5FB-BD21DE4B950F Thu, 18 Feb 2010 07:37:16 -0800 Mortgage lenders with large portfolios of distressed Sacramento loans say they're getting significantly better at rewriting them, and federal numbers released Wednesday suggest more homeowners are getting help. http://www.mcclatchydc.com/251/story/86063.html 34B39A65-8B6B-4DCD-939D-2E4AAC128223 Thu, 18 Feb 2010 07:33:36 -0800 DataQuick reported that lenders seized 662 Orange County homes in January, down 20.7% from the same month a year earlier. http://mortgage.freedomblogging.com/2010/02/16/foreclosures-down-21-in-january/26511/ 13DF71E1-230B-4A56-836A-E96B45C160F2 Wed, 17 Feb 2010 13:28:21 -0800 Southern California home sales eked out a modest gain in January compared with a year earlier but fell sharply from December. http://www.dqnews.com/Articles/2010/News/California/Southern-CA/RRSCA100216.aspx 1E319DA9-0DFA-497D-A50F-D9920E818DF0 Wed, 17 Feb 2010 13:18:54 -0800 The Federal Reserve should sell its U.S. mortgage-backed securities holdings sooner rather than later as the economic recovery gathers steam in order to extricate itself from fiscal policy, a senior central bank official said Wednesday. http://www.cnbc.com/id/35443138 F81092A7-A0F3-44CE-981E-D960E54AC03F Wed, 17 Feb 2010 13:14:48 -0800 U.S. housing starts rebounded more strongly than expected to their highest level in six months in January, while permits fell slightly less than forecast, pointing to a mild housing market recovery. http://www.cnbc.com/id/35437232 C07C7616-5120-4D0B-BDF5-5F1065506AF3 Wed, 17 Feb 2010 08:03:27 -0800 Bank of America quadrupled its number of permanent loan modifications in just one month, from 3,183 in mid January to 12,760 today. http://www.cnbc.com/id/35425682 8FAAA475-E440-47F1-832F-B02B8675DBED Wed, 17 Feb 2010 08:01:40 -0800 TransUnion's quarterly analysis of trends in the mortgage industry found that mortgage loan delinquency (the ratio of borrowers 60 or more days past due) increased for the 12th straight quarter, hitting an all-time national average high of 6.89 percent for the fourth quarter of 2009. http://newsroom.transunion.com/easyir/customrel.do?easyirid=DC2167C025A9EA04&version=live&prid=587490&releasejsp=custom_144 01316E61-4304-490A-A290-5938AED0DF3E Wed, 17 Feb 2010 07:50:01 -0800 The Mortgage Bankers Association today released its Weekly Mortgage Applications Survey indicating that mortgage loan application volume decreased 2.1 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/71850.htm EBC5E438-5738-414D-AB60-3220628BD888 Wed, 17 Feb 2010 07:47:21 -0800 Builder confidence in the market for newly built, single-family homes rose two points to 17 in February as favorable home buying conditions and signs of healing in the job market helped boost the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=10344 FE92C50A-A524-4916-864B-C1BE80420CBB Wed, 17 Feb 2010 07:46:16 -0800 James Hagerty at the WSJ reports on two studies, one from John Burns Real Estate Consulting Inc., and another from Standard & Poor's Financial Services LLC that both forecast most modification efforts will eventually fail - and that mods have just delayed foreclosures. http://www.calculatedriskblog.com/2010/02/housing-reports-another-wave-of.html 61EF96E3-EC66-4CF3-8004-94849C42A6A8 Wed, 17 Feb 2010 07:45:02 -0800 A $425,000 median selling price for January. That is +14.9% vs. the January 2009 bottom of $370,000. http://lansner.freedomblogging.com/2010/02/17/a-year-after-the-bottom-o-c-home-prices-up-15/56365/ F9142BF8-0F39-47BD-B88B-45DB97C29F0E Wed, 17 Feb 2010 07:42:31 -0800 A report by a Latino advocacy group says minority families are being disproportionately hurt by the housing crisis and need relief from foreclosures even if they lost their jobs, as well as the chance to buy affordable homes and stronger consumer protections. http://mortgage.freedomblogging.com/2010/02/16/study-latino-foreclosure-generation-needs-help/26383/ E46F76AD-350D-4CEB-A397-70CC93E28FB9 Wed, 17 Feb 2010 07:41:19 -0800 Short sales are a pain to deal with, and are even more cumbersome when agents and their clients aren’t fully knowledgeable of how short sales work. http://lagunahomes.freedomblogging.com/2010/02/16/know-how-short-sales-work-before-trying/593/ 23ECB592-049E-4CD6-8EE4-B945F1B2E9E9 Wed, 17 Feb 2010 07:40:03 -0800 Home affordability in the Golden State held steady in the fourth quarter of 2009 at 64 percent, according to a report by the California Association of Realtors. http://www.inman.com/news/2010/02/15/california-home-affordability-08 4356805C-C3AC-4A9F-B9B9-FF04CFBD0241 Wed, 17 Feb 2010 07:36:52 -0800 More waves of foreclosures will keep downward pressure on home prices in parts of the U.S. over the next several years, two new studies project. http://www.inman.com/news/2010/02/15/california-home-affordability-08 6EB20418-B959-4793-94A3-D67B96B210B6 Wed, 17 Feb 2010 07:35:17 -0800 Homeowners' net equity grew by nearly $1 trillion from the recession's low point in the first quarter of 2009 through the third quarter. http://www.washingtonpost.com/wp-dyn/content/article/2010/02/11/AR2010021105251.html?wprss=rss_business AE03B327-EE1D-48A7-A6CE-297C9B8A4BB9 Fri, 12 Feb 2010 16:29:10 -0800 The minimum household income needed to afford an Orange County starter home was $72,095 in the final quarter of 2009, figures released today by the California Association of Realtors show. http://lansner.freedomblogging.com/2010/02/12/72000-income-needed-to-afford-o-c-starter-home/55821/ 4C4C9A5C-07CE-497F-9789-B7932696D19F Fri, 12 Feb 2010 16:26:48 -0800 The Senate jobs-creation package that was unveiled Thursday and hailed by President Barack Obama may do more to help politicians who want to be seen trying to help the economy than it does to shrink the nation's unemployment rate. http://www.mcclatchydc.com/227/story/84361.html B6871423-492A-475A-B670-E209DC1798E7 Fri, 12 Feb 2010 08:52:11 -0800 U.S. consumer sentiment slipped in early February, with high unemployment expected to continue and with most looking for no gain in income or home values in the year ahead, a survey released Friday showed. http://www.cnbc.com/id/35365540 706BC8B6-51EA-4A27-8734-2885BD207EC7 Fri, 12 Feb 2010 08:07:43 -0800 Over the next few years, a wave of commercial real estate loan failures could threaten America‘s already-weakened financial system. http://www.cnbc.com/id/35352337 9F92C020-7EB8-4A82-8D75-DFDB092913D8 Fri, 12 Feb 2010 08:06:34 -0800 Foreclosures will stay part of the market for a long time but some lenders are getting smarter about ridding themselves of their bum mortgages. http://lansner.freedomblogging.com/2010/02/12/hear-why-no-foreclosure-wave-will-hit/55811/ 2F512420-E447-41C4-84D0-2C28171D469B Fri, 12 Feb 2010 08:02:22 -0800 This is the dawn of the spring homebuying season when buyers and sellers warm up to the idea of buying and selling homes. http://southcoasthomes.freedomblogging.com/2010/02/12/south-coast-homes-for-sale-on-the-rise/ 4B1F3EDA-F72E-4F5B-A544-60AB443BB756 Fri, 12 Feb 2010 08:01:01 -0800 Report shows that for two consecutive months the volume of default notices that trigger the start of the foreclosure process has been declining. http://www.pe.com/business/local/stories/PE_Biz_W_realtytrac11.3fdacc4.html 9EF11F78-440E-469B-9D10-0434A0A45AE6 Fri, 12 Feb 2010 07:58:34 -0800 The question is how to withdraw support without undermining the fragile recovery. http://www.latimes.com/business/la-fi-mortgage11-2010feb11,0,3748130.story 190254C9-A893-441C-BD8B-815AF1F697BF Fri, 12 Feb 2010 07:57:43 -0800 Fewer sellers cut their list prices for the fifth straight month in January, according to a report by real estate brokerage ZipRealty. http://www.inman.com/news/2010/02/11/ziprealty-fewer-sellers-slash-prices 28A8318B-2CBC-48CA-A1DF-6A0690BEA289 Fri, 12 Feb 2010 07:56:41 -0800 U.S. mortgage rates dipped below 5 percent again, a key level that may boost home loan demand, according to a closely watched mortgage survey on Thursday. http://www.cnbc.com/id/35348028 1758BBA3-DA7C-4D16-866B-1C6F6879FFD7 Thu, 11 Feb 2010 07:53:17 -0800 RealtyTrac today released its January 2010 U.S. Foreclosure Market Report, which shows a decrease of nearly 10 percent from the previous month. http://www.calculatedriskblog.com/2010/02/realtytrac-foreclosures-decline-in.html 6320977B-96ED-4B99-AD29-00CF7A0E6195 Thu, 11 Feb 2010 07:44:37 -0800 In the week ending Feb. 6, the advance figure for seasonally adjusted initial claims was 440,000, a decrease of 43,000 from the previous week's revised figure of 483,000. http://www.calculatedriskblog.com/2010/02/weekly-initial-unemployment-claims_11.html 8D60E6CA-4990-4668-A358-91C927EAED3C Thu, 11 Feb 2010 07:35:52 -0800 Strong gains in existing-home sales were the predominant pattern in most states during the fourth quarter, with many more metro areas seeing prices rise from a year earlier, according to the latest survey by the National Association of Realtors. http://www.realtor.org/press_room/news_releases/2010/02/metro_state D924F1A9-180E-41CD-BAC8-7D9B063C68F4 Thu, 11 Feb 2010 07:32:33 -0800 As home values began to creep upward in the middle of last year, Silicon Valley home- owners may have thought the housing market slump was behind them. But they may be in for a "double dip." http://www.mercurynews.com/top-stories/ci_14368647?nclick_check=1 F7BC7C2B-7AF2-4ABE-A2CD-9D7259B50EB8 Thu, 11 Feb 2010 07:29:53 -0800 The number of newly laid-off workers seeking unemployment benefits fell more than expected last week to the lowest total in a month, a hopeful sign the job market may be improving. http://finance.yahoo.com/news/Firsttime-jobless-claims-fall-apf-2037765498.html?x=0&.v=8 3AD8A21D-669C-483C-9404-48723AA23A51 Thu, 11 Feb 2010 06:52:16 -0800 Lennar Corp. plans to resume sales next spring at its mothballed Central Park West development, spurred in part by the heavy demand for new homes at the Irvine Co.’s Woodbury developments. http://lansner.freedomblogging.com/2010/02/10/sales-resuming-at-mothballed-irvine-project/55533/ 24650C11-9CFC-4513-B037-77236362C46B Wed, 10 Feb 2010 13:00:48 -0800 Home builders are ramping up speculative construction to attract last-minute home buyers who want to tap a soon-to-expire tax credit. http://online.wsj.com/article/SB10001424052748704820904575054922945714884.html?mod=WSJ_Real+Estate_RIGHTTopCarousel B5A75B3D-9C5B-4547-AC0C-7E8FD3BB3656 Wed, 10 Feb 2010 12:58:41 -0800 With the U.S. economy in the early stages of recovery, the Federal Reserve must find ways to withdraw unprecedented monetary accommodation without disrupting that progress, a top Fed official said on Wednesday. http://www.cnbc.com/id/35333261 30D2313C-7634-474F-B7D9-B9E6AAC3977C Wed, 10 Feb 2010 12:55:13 -0800 LVG, which is a mortgage consultancy, is behind a program that would give future cash rewards to underwater borrowers who don't voluntarily walk away from their mortgage commitments. http://www.cnbc.com/id/35333195 CDFC4B90-D965-4B63-AE20-6126F78F4110 Wed, 10 Feb 2010 12:20:18 -0800 Government controlled mortgage finance company Freddie Mac says it will buy back troubled loans contained in securities it has already sold to investors. http://www.cnbc.com/id/35330336 F3D17D08-D80C-4556-81BD-F504A33F81E5 Wed, 10 Feb 2010 10:47:57 -0800 The Federal Reserve could begin pulling back its unprecedented stimulus for the U.S. economy by first removing some cash from the financial system and then raising interest rates, Fed Chairman Ben Bernanke said Wednesday. http://www.cnbc.com/id/35326630 8ACFC421-D6BC-4423-88C3-72592E8BE2DE Wed, 10 Feb 2010 07:21:09 -0800 One of every five U.S. home owners owed more on their mortgage than their home was worth in the fourth quarter, a trend that poses a serious threat to the U.S. housing market's recovery, real estate website Zillow.com said on Wednesday. http://www.cnbc.com/id/35329167 D89E5799-A079-41C3-B10E-F8041A216739 Wed, 10 Feb 2010 07:09:22 -0800 U.S. mortgage applications dipped last week, reflecting reduced demand for home purchase loans even as rates on 30-year loans fell to their lowest since December, data from an industry group showed on Wednesday. http://www.cnbc.com/id/35326674 C74DC092-9690-476A-B1DB-EFAB6DA7A9B9 Wed, 10 Feb 2010 07:08:24 -0800 The Mortgage Bankers Association today released its Weekly Mortgage Applications Survey showing loan application volume decreased 1.2 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/71815.htm 8C1B8FF9-694D-4247-B9DD-B899E81030A5 Wed, 10 Feb 2010 06:55:50 -0800 Zillow reports that the share of Orange County single-family homes with mortgages larger than the current value of the home was 14.4% percent in the 4th quarter of 2009, barely up from Q3’s 14%. http://mortgage.freedomblogging.com/2010/02/10/what-of-homeowners-are-underwater/25995/ 6CBAF14E-AC46-42D4-91E0-D7D2B419C39B Wed, 10 Feb 2010 06:49:10 -0800 The Internet continues to reverberate with the weekend’s news that the Mortgage Bankers Association has sold its Washington, D.C., headquarters for about half of what it paid for the high-rise three years ago. http://mortgage.freedomblogging.com/2010/02/09/mortgage-bankers-hq/26095/ 35FC2402-F4F8-427F-A708-6A63D0B07961 Wed, 10 Feb 2010 06:48:14 -0800 Reeling from the recession's one-two-three-punch of job woes, climbing mortgage payments, and evaporating equity, desperate Silicon Valley homeowners are dipping into a nearby income stream to avoid foreclosure. http://www.mercurynews.com/business/ci_14360027?nclick_check=1 9F900D39-F196-4D9D-A02E-A53C058B3C48 Wed, 10 Feb 2010 06:45:48 -0800 When Charles E. Haldeman Jr. became Freddie Mac's chief executive officer in August, the ailing housing-finance giant had already consumed $51 billion of government money to stay afloat. It's likely to need even more. http://online.wsj.com/article/SB10001424052748704362004575001042824028862.html?mod=WSJ_Real+Estate_LeftTopNews 52FA9B64-5DFC-41EC-A6D0-EA81DAC4566A Wed, 10 Feb 2010 06:42:38 -0800 Pulte Homes Inc reported a larger-than-expected fourth-quarter net loss on Tuesday despite help from a tax benefit. http://www.cnbc.com/id/35309352/site/14081545/for/cnbc/ 84DE2E5B-FE67-4136-A79A-5E54BDE48F21 Tue, 9 Feb 2010 13:43:19 -0800 A short-refi works in much the same way as a short sale, except instead of selling the home to another buyer, you refinance the home to a smaller mortgage amount. http://huntingtonhomes.freedomblogging.com/2010/02/09/a-short-refi-to-avoid-foreclosure/83327/ 9F609497-4C6A-4B6E-AAE1-8491188FA4B4 Tue, 9 Feb 2010 13:36:27 -0800 DataQuick reported recently that 2,448 Orange County homes sold last year at prices of $1 million or more, down 14.5% from 2008 http://lansner.freedomblogging.com/2010/02/09/1-million-plus-home-sales-fell-145-in-09/55245/ D85AD970-6167-4055-9FE9-648D16E5A435 Tue, 9 Feb 2010 13:33:56 -0800 Clearly, Texas is the moving van’s most popular stop when the business involves Orange County. And one thing we know Texas offers is housing affordability. http://lansner.freedomblogging.com/2010/02/09/would-you-relocate-to-texas/55219/ 64B20DC7-344B-40CC-9F70-FDA563409647 Tue, 9 Feb 2010 13:31:18 -0800 There were 2.5 million job openings on the last business day of December 2009, the U.S. Bureau of Labor Statistics reported today. http://www.calculatedriskblog.com/2010/02/bls-few-job-openings-in-december.html 55EDE505-2E22-4636-A377-12F5EE3F36C0 Tue, 9 Feb 2010 13:26:26 -0800 December's pending sales contracts were 11 percent higher than December 2008's. http://realtytimes.com/rtpages/20100209_realestateoutlook.htm C7BAACA4-2C51-4D2F-80C5-DF7854265FE4 Tue, 9 Feb 2010 13:24:05 -0800 Delinquencies in California commercial real estate loans remained low in the last quarter of 2009, but the percentage more than quadrupled compared with the third quarter, according to the California Mortgage Bankers Association. http://www.sacbee.com/realestatenews/story/2517227.html A2ABFCCA-F0E9-4FAD-8930-703AA3B13A89 Tue, 9 Feb 2010 13:21:21 -0800 Some believe that the Administration is shifting focus from loan modifications to another program which would get troubled borrowers out of their homes faster. http://www.cnbc.com/id/35297731 629AA075-5BC5-48E5-90A1-B303C633C813 Mon, 8 Feb 2010 13:14:51 -0800 The U.S. construction industry’s unemployment rate hit 24.7% in January as another 75,000 American construction workers lost their jobs. http://lansner.freedomblogging.com/2010/02/08/1-in-4-us-construction-workers-jobless/55171/ 4311D1E0-7C84-410B-A514-D58A1662F872 Mon, 8 Feb 2010 13:10:00 -0800 Most of our south coast cities went against the grain and reflected the opposite of the countywide trend by seeing an increase in distressed properties for sale. http://southcoasthomes.freedomblogging.com/2010/02/08/south-coast-short-sales-foreclosures-up/ 3BFE5091-5EA1-46F8-9610-3C0362D7CE19 Mon, 8 Feb 2010 13:09:56 -0800 Orange County’s housing mix has changed in a year, with more short sales and equity sellers and fewer bank-owned homes on the market compared to last January. http://mortgage.freedomblogging.com/2010/02/08/foreclosure-market-is-sizzling/25869/ 412A6A46-FFA5-43A9-8D42-2FC1CDCFF139 Mon, 8 Feb 2010 13:08:35 -0800 Here are six things we may have learned as I peek at the 2009 full-year report from our pals at DataQuick. http://www.ocregister.com/articles/year-233104-percent-market.html 6978C2E1-CD64-48F4-8338-2CA4A03FE24A Mon, 8 Feb 2010 13:06:57 -0800 .S. prime jumbo loan performance continued to weaken in January as serious delinquencies rose for the 32nd consecutive month, according to Fitch Ratings in the latest edition of Performance Metrics. http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20100208005973&newsLang=en 286D45D8-14BE-4B60-9AF3-7BA4EFE18CEA Mon, 8 Feb 2010 08:35:40 -0800 Demand for local homes is starting off a year at its highest level in 5 years. http://lansner.freedomblogging.com/2010/02/08/best-start-for-oc-home-market-in-5-years/55161/ 5E0F5A69-AB78-4D65-98EA-F49A915A659F Mon, 8 Feb 2010 07:38:50 -0800 Real estate took some whacks in the new 3.8 trillion dollar Obama budget presented to Congress last week, but there were some helpful proposals for housing as well. http://realtytimes.com/rtpages/20100208_washingtonreport.htm C6BD1A89-2207-4B6F-B04C-BF1BA2626444 Mon, 8 Feb 2010 07:36:19 -0800 Instead of tapping into equity, Americans are preferring to put in cash to cut debt. http://www.latimes.com/classified/realestate/news/la-fi-harney7-2010feb07,0,4396828.story BE8BA354-D895-420E-8039-20E92EB2BE74 Sun, 7 Feb 2010 08:09:02 -0800 Americans borrowed less for an 11th consecutive month in December, paying off credit cards while increasing borrowing for cars and other products. http://www.cnbc.com/id/35261213 50B6F852-0C97-48E8-A165-EAA82393489D Fri, 5 Feb 2010 14:21:37 -0800 A consumer survey conducted by Thomas Reuters and the University of Michigan indicates that it is sellers who are holding the housing market at low levels. http://www.mortgagenewsdaily.com/02052010_home_sellers_still_see_conditions_as_unfavorable_perspective_on_shadow_inventory.asp F98D9DE8-C32D-4DFA-8AE4-3C712B4599B0 Fri, 5 Feb 2010 14:13:31 -0800 The Federal Reserve would consider reopening its program to support the mortgage market if interest rates spiked or the economy showed new weakness, Federal Reserve Bank of New York President William C. Dudley said in two new interviews. http://www.washingtonpost.com/wp-dyn/content/article/2010/02/04/AR2010020404363.html 36CE2CC3-865C-40BD-8CE9-947195E526DA Fri, 5 Feb 2010 13:51:18 -0800 Fewer U.S. homeowners expect the value of their homes to decline in the year ahead, but they also believe gains are unlikely, according to a Thomson Reuters/University of Michigan survey published Friday. http://www.cnbc.com/id/35256332 EDE9EACD-3F3E-41D4-AEFC-BFC11DBF41B1 Fri, 5 Feb 2010 08:08:16 -0800 A common question is: how could there be fewer payroll jobs, but the unemployment rate declined? http://www.calculatedriskblog.com/2010/02/employment-population-ratio-part-time.html 8FC3FF24-7F0F-47DD-852C-EB034F90A5E1 Fri, 5 Feb 2010 08:07:29 -0800 U.S. payrolls unexpectedly fell in January, but the unemployment rate surprisingly dropped to a five-month low, according to a government report Friday that hinted at labor market improvement. http://www.cnbc.com/id/35254420 0C753B6C-2D8B-43BD-AAA9-DC1BF7FC0F8A Fri, 5 Feb 2010 08:06:50 -0800 The Urban Land Institute predicts there will be two major changes beginning in this new decade in our country that will affect the housing market. http://realtytimes.com/rtpages/20100205_trends.htm 8BA5BB33-2412-4C07-8279-5272A958EC66 Fri, 5 Feb 2010 08:04:02 -0800 Investors with deep pockets appear to be renewing their interest in Inland Southern California's best distribution sites, several people that follow the area's real estate said. http://www.pe.com/business/realestate/stories/PE_Biz_W_warehouses05.363160c.html FD1755F2-EBBD-40B1-91F2-1BAEEE64992E Fri, 5 Feb 2010 08:02:41 -0800 Tens of thousands of homeowners with adjustable-rate mortgages have seen their monthly payments jump or stay high even as they have fallen for other homeowners. http://online.wsj.com/article/SB10001424052748703575004575043670691505354.html?mod=WSJ_Real+Estate_LeftTopNews ADE4C375-EB8D-4E27-9F02-1617854D8E03 Fri, 5 Feb 2010 08:00:39 -0800 Freddie Mac today released the results of its Primary Mortgage Market Survey® in which the 30-year fixed-rate mortgage averaged 5.01 percent with an average 0.7 point for the week ending February 4, 2010, up from last week when it averaged 4.98 percent http://www.freddiemac.com/pmms/release.html?week=5&year=2010 C40396C6-1E61-480F-9D47-2C261F9D5F35 Fri, 5 Feb 2010 07:57:57 -0800 The number of California homes that sold for $1 million-plus declined for the fourth consecutive year in 2009, the result of buyer reticence, a difficult mortgage market and several years of price drops that tugged the value of many homes below the million-dollar threshold, a real estate information service reported. http://www.dqnews.com/Articles/2010/News/California/HighEndSales/MDCA100204.aspx 7A370BB6-0596-4FE1-BFCD-B84F3CA678E0 Thu, 4 Feb 2010 12:48:30 -0800 The number of U.S. homes listed for sale rose in January compared to December after 18 consecutive months of decline, according to data released on Thursday by real estate brokerage ZipRealty. http://www.cnbc.com/id/35239423 DEFDCA71-C7AB-42D6-BD75-0A50BCF1372E Thu, 4 Feb 2010 11:20:42 -0800 US fixed mortgage rates eked out small increases in the past week, but the average 30-year loan held at around 5 percent, fostering affordability, home funding company Freddie Mac said Thursday. http://www.cnbc.com/id/35235651 607D3B59-1D48-4527-A4C0-1C4CD381F81B Thu, 4 Feb 2010 07:54:20 -0800 In the week ending Jan. 30, the advance figure for seasonally adjusted initial claims was 480,000, an increase of 8,000 from the previous week's revised figure of 472,000. http://www.calculatedriskblog.com/2010/02/weekly-initial-unemployment-claims.html A6C16296-B9F7-4670-A829-38BD8FB44EEF Thu, 4 Feb 2010 07:34:36 -0800 Home-loan delinquency rates in the US reached 10% in December, up from the record-high 9.97% in November, according to Lender Processing Services. http://www.housingwire.com/2010/02/03/mortgage-delinquencies-pass-10-lps/ 59632FB9-1056-4A1C-B64A-173AD8DAE4E2 Thu, 4 Feb 2010 07:33:03 -0800 The House Financial Services Committee has scheduled a hearing for Feb. 10, called "Unwinding Emergency Federal Reserve Liquidity Programs and Implications for Economic Recovery". http://www.cnbc.com/id/35219007 7F105C32-EC80-4597-A482-146E50204074 Thu, 4 Feb 2010 07:31:28 -0800 The percentage of borrowers who are delinquent on their mortgages but paying their credit card bills on time is growing, to 6.6 percent in the third quarter of 2009 from 4.9 percent in the same quarter of 2008, according to a new study by Chicago-based TransUnion. http://www.cnbc.com/id/35219720 AABFE22E-7F7D-4A91-8C4B-FE06FD7303A7 Thu, 4 Feb 2010 07:29:47 -0800 To help clear some of the sludge out of the Obama Administration's Home Affordable Modification Program (HAMP) the U.S. Treasury Department and Department of Housing and Urban Development (HUD) recently announced plans to speed up trial mortgage modification conversions to help homeowners obtain a permanent mortgage modification. http://realtytimes.com/rtpages/20100204_fedsgive.htm AB6EF577-F77B-4391-9B12-787B66F71582 Thu, 4 Feb 2010 07:25:48 -0800 Economists at mortgage insurer PMI Group say Orange County’s chances of further home-price declines is as high as Top 50 U.S. market. http://lansner.freedomblogging.com/2010/02/04/oc-housing-risk-tops-in-us/54847/ 6D547FAD-7BBC-4986-B822-292F53926AC2 Thu, 4 Feb 2010 07:19:29 -0800 Irvine-based Standard Pacific Homes reported today that it had its first profitable quarter after 12 quarters of red ink. http://lansner.freedomblogging.com/2010/02/03/builder-reports-1st-profit-in-3-years/54755/ 73E77D52-0216-4449-A58F-7159D5A8387A Thu, 4 Feb 2010 07:10:56 -0800 The share of borrowers who are falling seriously behind on loans backed by the Federal Housing Administration jumped by more than a third in the past year, foreshadowing a crush of foreclosures that could further buffet an agency vital to the housing market's recovery. http://www.washingtonpost.com/wp-dyn/content/article/2010/02/01/AR2010020103527.html 67119813-B434-49A7-8307-7A850C76AEAD Thu, 4 Feb 2010 07:07:33 -0800 The percentage of Americans who owned their homes fell at the end of 2009 to the lowest point in nearly a decade, a reflection of continuing troubles in the housing market even as the sector showed signs of stabilizing. http://online.wsj.com/article/SB10001424052748704022804575041083721893188.html?mod=WSJ_Real+Estate_LEADTopNews 663178F9-C2F2-4CEA-813E-525778863405 Thu, 4 Feb 2010 07:06:27 -0800 Mortgage-finance giants Fannie Mae and Freddie Mac will not be allowed to introduce new loan products in the mortgage market while they are under the control of the U.S. government, the companies' federal regulator announced Tuesday in a letter to Congress. http://online.wsj.com/article/SB10001424052748704022804575041612842517090.html?mod=WSJ_Real+Estate_LeftTopNews 1C97CD3E-23E3-41A3-8F6F-D66834BE2CA9 Thu, 4 Feb 2010 07:05:03 -0800 New research suggests that when a home’s value falls below 75 percent of the amount owed on the mortgage, the owner starts to think hard about walking away, even if he or she has the money to keep paying. http://www.cnbc.com/id/35216537 FFDAF17D-152C-4FA6-BDFD-27CD81520BA2 Wed, 3 Feb 2010 13:52:50 -0800 Demand for U.S. home loans rose to a six-week high on a mini refinance wave, with borrowers pushing to lock in rates before they climb later this year, the Mortgage Bankers Association said on Wednesday. http://www.cnbc.com/id/35213452 2600C7E0-11AB-44C8-A114-0D5C17ABEF55 Wed, 3 Feb 2010 06:44:41 -0800 Private-sector jobs fell by 22,000 in January, the smallest loss since employment began dropping in 2008 and even better than expectations, according to the ADP National Employment Report. http://www.cnbc.com/id/35213567/ 4DF525EC-3F59-4D16-B1E4-E62114F44E30 Wed, 3 Feb 2010 06:43:06 -0800 After a three year market "correction," economists think that Orange County's real estate industry may be in recovery with signs http://www.ocregister.com/articles/irvine-232282-woodbury-company.html 25C9E3C3-8BD4-49BB-A15F-953222E4EFE6 Wed, 3 Feb 2010 06:38:51 -0800 The harsh real estate recession wiped out much of the real estate and finance job growth of the past decade and almost all of the construction employment expansion. http://lansner.freedomblogging.com/2010/02/02/oc-construction-a-no-growth-job/54597/ A08A99D2-81CB-431F-8C53-206A4C585D86 Wed, 3 Feb 2010 06:37:19 -0800 Pending home sales have leveled from a market swing driven by response to the home buyer tax credit, according to the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2010/02/stabilize_remain BD799FCD-6D8E-4ED1-A458-669C1C641CD8 Wed, 3 Feb 2010 06:34:53 -0800 Republican State Sen. Roy Ashburn, aiming to repeat last year's midnight-hour passage of homebuyer tax credits as part of a $42 billion budget-cutting agreement, introduced new legislation Monday to give $10,000 credits to another 20,000 homebuyers. http://www.sacbee.com/business/story/2506058.html DD145706-1679-4BAD-B1BE-DA02BE9AA663 Wed, 3 Feb 2010 06:33:31 -0800 The number of people preparing to buy a home rose slightly in December, a positive sign heading into the spring home buying season. http://www.latimes.com/business/la-fi-pending-home-sales3-2010feb03,0,293340.story FC9D0600-E4D8-48A5-BE2F-54CCBDA13632 Wed, 3 Feb 2010 06:32:23 -0800 The Great Bailout is mostly over but for Fannie Mae and Freddie Mac, the lifeline just keeps getting longer. http://www.cnbc.com/id/35197527 00324F1F-C616-4265-AC31-32C075B10D60 Tue, 2 Feb 2010 13:17:15 -0800 Pending sales of previously owned U.S. homes edged up as expected in December, a survey showed Tuesday, which should help to calm fears of renewed weakness in the troubled housing sector. http://www.cnbc.com/id/35197441 DF27329D-1743-45DE-9AFC-4324C4DA379F Tue, 2 Feb 2010 08:00:32 -0800 Helped by a large tax credit, homebuilder D.R. Horton Tuesday posted its first quarterly profit in almost three years, beating analyst estimates. http://www.cnbc.com/id/35186568 F7F7B6A8-1360-42A6-873A-1018B70C6466 Tue, 2 Feb 2010 07:59:21 -0800 White House adviser Paul Volcker will urge Congress to curb the risks taken by large banks to help prevent them from being treated as "too big to fail," according to testimony obtained by Reuters on Monday. http://www.cnbc.com/id/35192203 18BA2F04-5CD7-4EA0-9D54-7E88AA975D34 Tue, 2 Feb 2010 07:58:17 -0800 President Barack Obama will propose on Tuesday using $30 billion from the TARP bank bailout program for a small business lending fund to try to spur job growth in a critical sector of the U.S. economy. http://www.cnbc.com/id/35194618 934638D0-DA79-4BBE-94FD-FAFB9D8CAD77 Tue, 2 Feb 2010 07:56:53 -0800 In this most recent period, O.C. shoppers bought 2,569 residences — that is +7.0% vs. year-ago buying activity. http://lansner.freedomblogging.com/2010/02/01/home-sales-start-year-up-7/54569/ 4CBF5DEB-EE50-4DF7-A40D-C9041C23F0A2 Tue, 2 Feb 2010 07:53:37 -0800 51 of O.C.’s 83 ZIP codes had gains in their respective median selling price. Overall, prices were +8.9% vs. a year ago. http://lansner.freedomblogging.com/2010/02/01/home-prices-up-in-51-zips/54571/ 1530EC12-1E39-40DF-A870-4C6545346C84 Tue, 2 Feb 2010 07:51:57 -0800 The homeownership rate declined to 67.2% and is now at the levels of early 2000. http://www.calculatedriskblog.com/2010/02/q4-homeownership-rate-declines-to-early.html DB0826C0-6035-4F2B-9B03-C24E7D65BE92 Tue, 2 Feb 2010 07:48:26 -0800 The Obama administration projects rosier economic-growth prospects than most mainstream economists do but a sobering jobless recovery, according to documents released Monday about underlying assumptions in the government's $3.83 trillion federal budget for 2011. http://www.mcclatchydc.com/227/story/83470.html CE275574-E836-4FE7-8E30-3C147705403C Tue, 2 Feb 2010 07:43:43 -0800 Fewer banks tightened standards for loans to consumers and companies last quarter, a Federal Reserve report showed, as the economy grew at the fastest pace in six years. http://www.bloomberg.com/apps/news?pid=20601087&sid=azk2sR1jOvBo 2B51CA67-C844-4559-AC09-CF45C6F90DE5 Tue, 2 Feb 2010 07:41:25 -0800 Starting today home "Flippers" are now welcome at the FHA. http://www.cnbc.com/id/35184396 C60BB4CE-3162-423E-B3B2-635830D2EC9B Mon, 1 Feb 2010 12:37:08 -0800 President Obama's economic policies are promoting 'fiscal insanity' that is leading the nation down the path of insolvency, Sen. Judd Gregg (R)-NH told CNBC Monday. http://www.cnbc.com/id/35180618 48F58EB9-F4E5-4F26-965A-30B0C5021AA1 Mon, 1 Feb 2010 08:32:46 -0800 President Barack Obama on Monday projected the budget deficit would peak at a fresh record in 2010 before easing as he pushes for fiscal responsibility while battling double-digit unemployment. http://www.cnbc.com/id/35182465 9B1079AA-EFA5-4FA7-9D2C-EA92BF950CC5 Mon, 1 Feb 2010 08:32:25 -0800 U.S. construction spending has dropped sharply in December to its lowest level in more than six years as new home building fell by the steepest amount in seven months, evidence that housing remains a weak spot in the economy. http://www.cnbc.com/id/35181836 AB3948D0-81FD-4C57-951A-B6000FED6C25 Mon, 1 Feb 2010 07:18:55 -0800 Although not significant in number, some form of seller financing is on the rise. But is it worth the risk? http://huntingtonhomes.freedomblogging.com/2010/02/01/is-seller-financing-worth-the-risk-in-home-sale/82209/ 38D0F03A-7F57-43C1-84CD-5A6196856788 Mon, 1 Feb 2010 06:58:20 -0800 In a step that will let people learn sooner if they are eligible for a federal mortgage modification that could save their home from foreclosure, the Obama administration Thursday said it will require loan servicers to qualify applicants before putting them in a trial mortgage modification program. http://www.pe.com/business/realestate/stories/PE_Biz_W_mortgage29.3554629.html 410BC31F-7C8F-4729-A182-91ABFD04C56D Mon, 1 Feb 2010 06:46:24 -0800 President Barack Obama on Monday will propose a 2011 federal budget that would spend $1.3 trillion more than the government takes in — then continue with deficits of more than $700 billion a year for at least a decade. http://www.mcclatchydc.com/227/story/83393.html 91E0BF31-1B7E-434F-B945-71A21FE401C2 Mon, 1 Feb 2010 06:41:45 -0800 U.S. consumer spending rose slightly less than expected last month as savings jumped to a six-month high, indicating that households remained too cautious to spend despite an improvement in incomes. http://www.cnbc.com/id/35179585 87F40C11-5D94-4983-8225-EE1DC5CD7D34 Mon, 1 Feb 2010 06:40:00 -0800 Personal income increased $44.5 billion, or 0.4 percent, and disposable personal income (DPI) increased $45.9 billion, or 0.4 percent, in December, according to the Bureau of Economic Analysis. http://www.bea.gov/newsreleases/national/pi/pinewsrelease.htm 66774EA0-A7C1-469A-86D6-19BE98D8F256 Mon, 1 Feb 2010 06:36:20 -0800 The White House will predict a $1.6 trillion U.S. budget deficit in the 2010 fiscal year, a fresh record and the biggest since World War Two as a share of the economy, a congressional source told Reuters on Sunday. http://www.cnbc.com/id/35176678 DDC78E83-2C4B-48A5-A49F-395501676A11 Mon, 1 Feb 2010 06:35:16 -0800 In promising Wednesday night to double the United States’ export growth over the next five years, President Obama set an ambitious goal for American trade policy that, he said, could create two million jobs. http://www.cnbc.com/id/35143495 EB56B8F1-29C2-4353-8C1C-E765A152B7D0 Fri, 29 Jan 2010 10:10:00 -0800 President Barack Obama has staunchly defended his economic policies in a visit with House Republicans, although he acknowledged the administration initially underestimated how high national joblessness would go. http://www.cnbc.com/id/35146143 5C0F39C3-F572-4EA2-8176-48EB71C29C89 Fri, 29 Jan 2010 10:04:54 -0800 A senior U.S. Federal Reserve official warned Friday that the uncertain path of interest rates poses risks for banks inattentive to the match of durations among their assets and liabilities. http://www.cnbc.com/id/35142247 39DF032C-C708-4984-B42D-4C8A0D9CA6ED Fri, 29 Jan 2010 07:36:07 -0800 U.S. consumer confidence rose to a two-year high this month as the economic outlook improved, though most had a grim view of their own personal financial and employment prospects, a private report showed on Friday. http://www.cnbc.com/id/35143310 6C98EA86-A7B9-48CF-81DC-49AE5F3873DF Fri, 29 Jan 2010 07:31:36 -0800 Fannie Mae, the largest provider of U.S. residential home funding, on Thursday said it is offering to pay closing costs on some homes as a way to help reduce housing inventory. http://www.fanniemae.com/newsreleases/2010/4923.jhtml;jsessionid=KLJCXCH2C0JA3J2FECISFGI?p=Media&s=News+Releases B5849BD6-A7CA-4CFD-A2EA-62CC778BF339 Fri, 29 Jan 2010 07:29:37 -0800 The Institute for Supply Management-Chicago said on Friday its index of Midwest business activity rose more than expected in January to 61.5 from 58.7 in December. http://www.cnbc.com/id/35141739 E78CCC6B-0154-42E3-BBE6-C153807CB037 Fri, 29 Jan 2010 07:26:16 -0800 Bank of America and other Wall Street banking giants do not need to be broken up to protect the global economy from another financial crisis, Brian Moynihan, CEO of Bank of America, told CNBC Friday. http://www.cnbc.com/id/35140158 3B96381D-6025-49EA-907D-D326E56AAABA Fri, 29 Jan 2010 07:24:57 -0800 The tax on banks proposed by President Barack Obama is likely to become law, while a proposal to set up a fund for unwinding troubled financial institutions has little chance of succeeding, Rep. Barney Frank, D-Mass., told CNBC Friday. http://www.cnbc.com/id/35140455 4EAC95CF-C5DC-4E86-A533-ECD18A4C953F Fri, 29 Jan 2010 07:23:27 -0800 President Barack Obama will propose a $33 billion tax credit to encourage small businesses to hire workers and raise wages in 2010, an administration official said on Thursday. http://www.cnbc.com/id/35135371 2A79A824-96D0-498E-83E2-E4C5399A20A6 Fri, 29 Jan 2010 07:22:29 -0800 A record share of U.S. homeowners cut their loan principal when refinancing in the fourth quarter rather than tap their home's equity for cash, home funding company Freddie Mac said Thursday. http://www.cnbc.com/id/35129083 E53695EF-D441-4DF9-841C-2A143EF1696B Fri, 29 Jan 2010 07:21:35 -0800 U.S. foreclosure actions firmly centered around Sun Belt states in 2009 but activity spread to previously insulated areas, and unemployment became the biggest driving factor, RealtyTrac said on Thursday. http://www.cnbc.com/id/35055884 366D0C3B-6331-4615-9B90-CCD945827246 Fri, 29 Jan 2010 07:20:35 -0800 Thanks to a new, full-year report on Orange County homebuying by DataQuick, we get to see the pricing challenges faced by the market in 2009. http://lansner.freedomblogging.com/2010/01/29/oc-home-prices-off-78-for-2009/54365/ 0E02C380-CBEA-4052-A7CD-CB2542F5C987 Fri, 29 Jan 2010 07:16:48 -0800 The U.S. economy grew at a better-than-expected 5.7 percent in the final three months of 2009, the Commerce Department reported Friday, bringing the full-year numbers to a 2.4 percent contraction, the worst showing for the U.S. economy since 1946. http://www.mcclatchydc.com/251/story/83307.html C8EB17A6-4CB3-4C23-B758-53539B519CE6 Fri, 29 Jan 2010 07:15:28 -0800 As expected, GDP growth in Q4 was driven by changes in private inventories, adding 3.39% to GDP. http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm 563BA599-C62A-4DAF-99FC-1C2EC86DA075 Fri, 29 Jan 2010 07:11:51 -0800 Obama said, "This year we will step up refinancing so that homeowners can move into more affordable mortgages." So if homeowners can get an affordable mortgage, they no longer have to worry about loosing their homes in foreclosure, right? http://www.cnbc.com/id/35128406 83E6102D-749E-470A-B19F-270426312E72 Thu, 28 Jan 2010 14:23:00 -0800 Freddie Mac announced today that 30-year fixed-rate mortgage averaged 4.98 percent for the week ending January 28, 2010, down slightly from last week when it averaged 4.99 percent. http://www.freddiemac.com/pmms/release.html?week=4&year=2010 B8992BED-F101-4B22-B1AC-D0BF16E1E234 Thu, 28 Jan 2010 14:19:49 -0800 Federal Reserve Chairman Ben Bernanke won Senate confirmation for a second term, ending a bruising political battle that forced the head the world's most powerful central bank to fight for survival. http://www.cnbc.com/id/35123799 C1CDCBF7-EB76-48FE-85E7-4362E95D9DBC Thu, 28 Jan 2010 13:05:26 -0800 Federal Reserve chief Ben Bernanke's nomination for a second term running the world's most powerful central bank looked set for a final vote in the Senate on Thursday, just a few days before his current term expires. http://www.cnbc.com/id/35123799 6F4BD69B-C09C-4BBD-AFD1-677F96504A5B Thu, 28 Jan 2010 08:46:18 -0800 Freddie Mac reported that the rate of serious delinquencies - at least 90 days behind - for conventional loans in its single-family guarantee business increased to 3.87% in December 2009, up from 3.72% in November - and up from 1.72% in December 2008. http://www.calculatedriskblog.com/2010/01/freddie-mac-delinquencies-increase.html B3FC4E5C-CEF4-45DC-8EE7-87077C7F32A1 Thu, 28 Jan 2010 08:45:05 -0800 A drop in new jobless claims came in short of expectations and factory orders rose only slightly, fresh evidence the economy is recovering at a slow, uneven pace. http://www.cnbc.com/id/35103338 1FF0BB2D-14A9-4D88-B241-AB81A54EE7AD Thu, 28 Jan 2010 08:41:28 -0800 Despite a more stable financial system, banks are still not lending and the quality of loans on their books continues to get worse as the U.S. housing market remains in the doldrums, a top official at the Federal Reserve said on Wednesday. http://www.cnbc.com/id/35108640 EB241674-ADE5-4EF4-AFAB-08A31138DE2A Wed, 27 Jan 2010 16:47:24 -0800 The Federal Reserve on Wednesday left interest rates near zero and vowed to keep them there for a while to nurture an economic recovery held back by stubbornly high unemployment. http://www.cnbc.com/id/35103062 992EEDCB-50E6-4C12-B866-909EED0B3642 Wed, 27 Jan 2010 12:04:23 -0800 Of the 267 properties in escrow now in Huntington Beach, 186 are either Bank Owned, Short Sale or in Foreclosure. http://huntingtonhomes.freedomblogging.com/2010/01/27/70-of-hb-homes-in-escrow-are-distressed/81921/ C883C9F4-49CE-447A-836B-29B05AF1527E Wed, 27 Jan 2010 10:49:07 -0800 Facing a rising tempest and new investigations, Treasury Secretary Timothy Geithner on Wednesday will defend before Congress his 2008 decision to use taxpayer bailout money to pay major banks the full $62 billion face value of bets made on risky offshore securities. http://www.mcclatchydc.com/227/story/83124.html 76B7A0C5-78FD-4C9E-8699-CE34932F8F52 Wed, 27 Jan 2010 07:35:38 -0800 Sales of newly built U.S. single-family homes fell unexpectedly in December, data showed on Wednesday, the latest indication that the government-led housing recovery might be losing some steam. http://www.cnbc.com/id/35098179 51BCE59A-7423-4864-9DCC-80D31131DE01 Wed, 27 Jan 2010 07:16:21 -0800 U.S. mortgage applications fell for the first time in four weeks, reflecting a dramatic drop in demand for home refinancing loans, data from an industry group showed on Wednesday. http://www.cnbc.com/id/35095841 B0B3EC4A-46A8-4496-86FF-EE887BAADF83 Wed, 27 Jan 2010 07:04:03 -0800 The Mortgage Bankers Association announced today that mortgage applications for the week ending January 22, 2010 decreased 10.9 percent compared to one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/71721.htm 7C01D5C7-EC42-403C-97DC-2F2FE55C843E Wed, 27 Jan 2010 07:02:04 -0800 Priority No. 1 for Obama in his first such annual address is laying out a convincing case that his policies will generate jobs. http://www.cnbc.com/id/35083327 ABFDB248-87E2-44AD-A2B3-05996FA8EA0C Tue, 26 Jan 2010 14:00:11 -0800 Former Federal Reserve Chairman Paul Volcker is tentatively scheduled to testify next week on the latest White House bank regulation proposals to the Senate Banking Committee. http://www.cnbc.com/id/35085094 7281A72A-FFB5-4E98-8EAF-217712598081 Tue, 26 Jan 2010 13:58:14 -0800 Lake Forest apartment renters got an average of $173 a month off their rent during the fourth quarter of 2009, an 11.4% cut and the biggest break among tenants of any Orange County city followed by apartment tracker RealFacts show. http://lansner.freedomblogging.com/2010/01/26/lake-forest-has-biggest-oc-rent-cuts/52933/ 63D8FD4C-D282-4F88-8E33-77A9E05BE1A2 Tue, 26 Jan 2010 12:51:45 -0800 With data for all 12 months now it, the news is official: 2009 had the lowest number of building permits since record-keeping began in 1946. http://lansner.freedomblogging.com/2010/01/26/slowest-year-for-oc-builders-on-record/53565/ E4E54684-21EC-4EC0-8815-858B4E1ABDB2 Tue, 26 Jan 2010 12:50:48 -0800 The wind-down of federal support for mortgage rates, set to end in two months, is a momentous test of whether the Obama administration and the Federal Reserve have succeeded in jump-starting the housing market and ensuring it can hold its own. http://www.washingtonpost.com/wp-dyn/content/article/2010/01/24/AR2010012402996.html?hpid=topnews B5359714-95FF-42CC-8186-03CD8258236B Tue, 26 Jan 2010 12:45:07 -0800 As housing experts continue to debate when or whether housing will finally turn around for good in 2010, the one thing most agree upon is that foreclosures will continue or even outpace last year. http://www.cnbc.com/id/35079275 89772CDE-0B21-41BC-8441-759D2D434123 Tue, 26 Jan 2010 12:42:43 -0800 U.S. consumer confidence rose for the third straight month in January to the highest since September 2008, driven mostly by an improvement in present-day conditions, according to a private report released Tuesday. http://www.cnbc.com/id/35077900 4E4754BA-69E5-4040-8E9F-7985EB6B40AC Tue, 26 Jan 2010 07:07:42 -0800 U.S. home prices slipped in November and were softer than expected in the latest sign that a rebound in the U.S. housing market is tenuous, according to Standard & Poor's/Case-Shiller indexes Tuesday. http://www.cnbc.com/id/35077113 4D04B393-9EBB-489F-9D57-667F3D5D0C74 Tue, 26 Jan 2010 06:54:20 -0800 The home price picture remains mixed despite steady annual improvement, said David M. Blitzer, chairman of the Index Committee at Standard & Poor's. http://www.standardandpoors.com/indices/sp-case-shiller-home-price-indices/en/us/?indexId=spusa-cashpidff--p-us---- 1CB7AB2E-A050-4E57-A237-3C076330AF3C Tue, 26 Jan 2010 06:52:11 -0800 US President Barack Obama on Monday promised a sustained response to addressing job losses that he said have become an "epidemic." http://www.cnbc.com/id/35060271 307F3A10-580D-4134-8E09-F3E0BF48302E Mon, 25 Jan 2010 10:13:52 -0800 Bipartisan opposition had been fueled by growing public anger over the economy in general and over bank bailouts in particular. http://www.cnbc.com/id/35059638 0FAEA802-5A43-4B9B-B04B-62C932CC86DF Mon, 25 Jan 2010 08:38:20 -0800 Frustration with the 10 percent unemployment rate and wariness toward Obama's plans to change the healthcare system helped set the stage for a shocking loss by Democrats last week in a Massachusetts Senate race. http://www.cnbc.com/id/35056479 DB1F139A-914A-42DF-8154-3DF9D901A6C5 Mon, 25 Jan 2010 07:10:46 -0800 After a rising surge from September through November, existing-home sales fell as expected in December after first-time buyers rushed to complete sales before the original November deadline for the tax credit. http://www.realtor.org/press_room/news_releases/2010/01/december_down 53A63883-0C15-4B81-A782-0CF4D31F3ED4 Mon, 25 Jan 2010 07:08:03 -0800 Last month's sales of previously occupied US homes are expected to be down sharply from November after prospective buyers were granted more time to take advantage of a tax credit. http://www.cnbc.com/id/35054056 3CE44364-DD77-4925-A650-27598FFDDC26 Mon, 25 Jan 2010 07:03:51 -0800 U.S. President Barack Obama's proposals last week to crack down on banks is making investments in the financial sector less attractive, a Dubai-based stakeholder in Barclays said on Monday. http://www.cnbc.com/id/35054094 928C2AE1-2E7E-456A-B95F-3623DA018F23 Mon, 25 Jan 2010 07:02:41 -0800 About 500 people attended two sessions of a foreclosure-prevention workshop with loan counselors and bank representatives Saturday at the city's Community Center, according to HomeOwnership Center director Clemente Mojica. http://www.ocregister.com/news/three-230717-one-months.html 252537D5-0C13-41AB-B78A-787C062DF7F8 Sun, 24 Jan 2010 12:49:06 -0800 According to DataQuick, homes in Central O.C. had 809 sales, a decline of 6% compared to a year ago. http://lansner.freedomblogging.com/2010/01/23/mid-oc-home-sales-off-6-in-a-year/52645/ 875923CC-ED51-4221-B077-DC5B569D6B2D Sun, 24 Jan 2010 12:46:07 -0800 Higher sales boosted the dollars generated by homebuying in Orange County last year despite lower home prices, figures from the Southern California Multiple Listing Service show. http://lansner.freedomblogging.com/2010/01/22/broker-revenues-see-first-gain-in-four-years/53165/ 97EDFA59-03CC-4BDC-8674-BCC7816946E6 Sun, 24 Jan 2010 12:44:40 -0800 Stung by a Republican win in a special Senate election in Massachusetts and the loss of their critical 60-seat majority, Democrats are putting a new stimulus and jobs bill on the legislative front burner, temporarily bumping health care reform aside. http://www.mcclatchydc.com/251/story/82852.html D4263645-8FBD-4D77-B724-FE8C05C5E8A5 Sun, 24 Jan 2010 12:40:40 -0800 The U.S. government's move to deepen its ties to mortgage-finance giants Fannie Mae and Freddie Mac by agreeing to absorb unlimited losses for the next three years is igniting a debate over whether it should bring the business operations of the companies onto its books. http://online.wsj.com/article/SB10001424052748704381604575005242824023092.html?mod=WSJ_Real+Estate_LeftTopNews BF10FE1C-C8E2-4803-A0D1-3F00361B02BB Sun, 24 Jan 2010 12:38:03 -0800 The housing market index was at 15 in January. This is a decrease from 16 in December and 17 in November. http://www.nahb.org/generic.aspx?sectionID=134&genericContentID=529 D8C0A085-FDB3-46CC-A54C-6928A7BAA6A2 Sun, 24 Jan 2010 12:35:48 -0800 The National Association of Realtors is due to release its monthly report on existing home sales at 10 a.m. Monday, and it’s likely to look lousy. http://blogs.wsj.com/developments/2010/01/22/why-you-can-yawn-over-mondays-home-sales-shock/ 20A42636-D25D-4FD7-BD2D-6198F31A06C3 Sun, 24 Jan 2010 12:34:17 -0800 Two senior senators, a Democrat and a Republican, jointly issued a statement Saturday predicting that the Senate will confirm Ben S. Bernanke to a second term as chairman of the Federal Reserve. http://www.cnbc.com/id/35033127 01C01CA5-FC67-472E-B267-D9A171DA46CA Sun, 24 Jan 2010 12:32:12 -0800 Members of both parties have said they expect Bernanke to be confirmed. But several Democratic senators are lining up to oppose him. Barbara Boxer (D-CA) said Friday she would vote against confirming Bernanke for a second term. http://www.cnbc.com/id/35012053 85075880-6A4B-4144-A2D5-FF424DF89675 Fri, 22 Jan 2010 09:24:34 -0800 Rep. Barney Frank (D-Ma.), chairman of the House Financial Services Committee, said Friday that Fannie Mae and Freddie Mac should be eliminated as they stand now. http://www.cnbc.com/id/35012329 E8ED75ED-9AD5-43AF-9060-08072B8FF66D Fri, 22 Jan 2010 09:23:12 -0800 Unemployment rose in most states in December - a reversal from previous months when states showed improvement. http://www.cnbc.com/id/35011375 73BED137-F71E-4B79-B899-B5278D9D6FB1 Fri, 22 Jan 2010 08:38:29 -0800 President Obama wants to cut down to size those too-big-to-fail banks. But his vow on Thursday to rewrite the rules of Wall Street left many questions unanswered, including the big one: Would this really prevent another financial crisis? http://www.nytimes.com/2010/01/22/business/22banks.html?hpw 8469502B-092B-4A89-A7E7-375EBA028650 Fri, 22 Jan 2010 07:51:24 -0800 DataQuick reports that home sales in California were up 16.7 percent from 35,860 in November, and up 10.6 percent from 37,836 for December 2008. http://www.dqnews.com/Articles/2010/News/California/RRCA100121.aspx 15B234A2-1B49-472D-A10D-C21039619C6A Fri, 22 Jan 2010 07:31:59 -0800 Despite increasing pressure to take more aggressive steps to keep troubled borrowers in their homes, the Obama administration said Wednesday that it had no immediate plans to alter its foreclosure-prevention program by increasing its reliance on reducing loan balances. http://online.wsj.com/article/SB10001424052748704320104575015803602043976.html?mod=WSJ_Real+Estate_LeftTopNews E866C5BE-57A2-4254-9207-ACD67C0F0503 Fri, 22 Jan 2010 07:30:55 -0800 The average rent for a unit in a large Orange County apartment complex fell to $1,473 a month in the fourth quarter of 2009, the fifth straight quarter to see monthly rents drop. http://lansner.freedomblogging.com/2010/01/21/oc-rents-fall/52857/ 6E50DC60-3EBC-4EDD-8818-7DD382A4B872 Thu, 21 Jan 2010 12:10:34 -0800 Freddie Mac today announced that 30-year fixed-rate mortgage averaged 4.99 percent with an average 0.7 point for the week ending January 21, 2010, down from last week when it averaged 5.06 percent. http://www.freddiemac.com/pmms/release.html?week=3&year=2010 2B8B8C5D-3A90-43F3-8787-3B5383ADBFAB Thu, 21 Jan 2010 12:03:22 -0800 The fear is that the president's strategy will backfire and make things worse not only on Wall Street, but Main Street as well. http://www.cnbc.com/id/34978454 77C752AD-77D6-4261-A299-9B3EE32B4D8A Thu, 21 Jan 2010 11:42:28 -0800 The White House has blamed the practice for reckless gambling on the U.S. property market that resulted in massive losses that almost destroyed the financial system in 2008. http://www.cnbc.com/id/34975288 83FA7C8B-39F4-4895-BCCB-D2BD74259C8A Thu, 21 Jan 2010 09:02:45 -0800 From 2005 to 2008, more households have been added to the ranks of those that spend more than 30 percent or more of their income on housing and households that can least afford the extra cost suffer most. http://realtytimes.com/rtpages/20100121_improved.htm 1D834DAD-2D4F-4CE6-A1EE-7DACAC8D206A Thu, 21 Jan 2010 07:06:07 -0800 The number of U.S. workers filing new applications for unemployment insurance unexpectedly rose last week as claims delayed from the year-end holidays were pushed through, government data showed on Thursday. http://www.cnbc.com/id/34971879 B0EAF4F0-23F3-46FB-B979-8218442FD360 Thu, 21 Jan 2010 06:57:15 -0800 In the week ending Jan. 16, the advance figure for seasonally adjusted initial claims was 482,000, an increase of 36,000 from the previous week's revised figure of 446,000. http://www.workforcesecurity.doleta.gov/press/2010/012110.asp 2004E54C-2CC1-44DD-8F41-122A44DCA8F2 Thu, 21 Jan 2010 06:56:35 -0800 A receiver reported that more than 200 people turned out Saturday to bid on eight homes from bankrupt builder. http://lansner.freedomblogging.com/2010/01/20/auction-discount/52509/ 03F57922-7919-4338-92F4-9CE4D0427A20 Wed, 20 Jan 2010 12:54:38 -0800 Housing markets in Riverside and San Bernardino counties are hanging on the coattails of Southern California as the region struggles to climb out of a pit. http://www.pe.com/business/realestate/stories/PE_Biz_W_dataquick20.36fc83c.html#end E6E5D078-C3FA-4329-8719-81E6E5515E20 Wed, 20 Jan 2010 12:50:57 -0800 The kitchen is still king http://www.marketwatch.com/story/the-10-must-have-features-in-todays-new-homes-2010-01-20 8E0283D8-6BD3-4BE7-8431-A5D732448181 Wed, 20 Jan 2010 12:48:22 -0800 Steps to shore up the agency's capital reserves will include raising mortgage insurance premiums and changing requirements for FICO credit scores and down payments for new home buyers. http://www.latimes.com/business/la-fi-fha20-2010jan20,0,4127343.story 1456DED8-5A31-498C-8601-4ADCE96EA8E0 Wed, 20 Jan 2010 12:46:37 -0800 California foreclosure data show that the number of houses purchased by investors at public auctions statewide climbed from 833 in December of 2008 to 2,648 in December of 2009, an increase of 218 percent. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/01/19/BUR51BKBUO.DTL FD770DA9-D7F0-47AA-B050-A30F4CD61B7E Wed, 20 Jan 2010 12:45:21 -0800 US banks and thrifts must go through the painful process of recognizing losses associated with commercial real estate loans, a leading regulator said on Wednesday. http://www.cnbc.com/id/34958740 7A21867B-6067-4D92-B223-1402DB7F4686 Wed, 20 Jan 2010 12:42:46 -0800 While a downturn is likely, it won’t be as bad as doomsayers are predicting. http://www.cnbc.com/id/34955139 6AFDC0B7-03AA-4312-8B55-9EA4C7EF8A1E Wed, 20 Jan 2010 10:50:53 -0800 It just goes to show you, not even the president is immune to the real-estate slump. http://www.cnbc.com/id/34956652 D1784A49-CD6B-423F-A9BB-7F84B39EE495 Wed, 20 Jan 2010 10:40:07 -0800 New U.S. housing starts unexpectedly fell in December, pulled down by a drop in construction activity for single-family dwellings, a government report showed on Wednesday. http://www.cnbc.com/id/34951809 53A2084B-B52C-4D76-A06E-E7C16ECBA98F Wed, 20 Jan 2010 07:16:12 -0800 Bank of America reported a wider-than-expected quarterly loss, hurt by still-high loan losses and its repayment of U.S. government bailout aid. http://www.cnbc.com/id/34950446 1DE96C50-55AA-4173-9C0E-0FAB1CCFA65A Wed, 20 Jan 2010 07:15:14 -0800 Orange County home pricing, as measured by DataQuick’s monthly median selling price, finished 2009 at $435,000, the highest in 15 months and up 9.6% from a year ago, fastest appreciation since April 2006. http://lansner.freedomblogging.com/2010/01/19/home-price-gains-end-09-near-4-year-high/52591/ 9928E049-EA0B-4C36-92BE-6717BF3019B3 Wed, 20 Jan 2010 07:12:59 -0800 Commercial real estate values fell so sharply that some analysts believe the prices may have stabilized http://www.marketwatch.com/video/asset/news-hub-has-commercial-real-estate-bottomed-2010-01-20/BDF6718C-AF7F-493C-B55B-2CE75F609ABD 94201C96-892E-4AC4-A6C3-7F58FBA963A3 Wed, 20 Jan 2010 07:09:10 -0800 Southern California home sales in December remained above year-ago levels for the 18th consecutive month, bolstered by gains in many mid- to high-end communities. http://www.dqnews.com/Articles/2010/News/California/Southern-CA/RRSCA100119.aspx BAF2C809-19BD-49A0-8E59-E45394DC516F Wed, 20 Jan 2010 07:06:24 -0800 The Mortgage Bankers Association today announced that mortgage loan application volume increased 9.1 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/71642.htm F63EE7FE-92CB-4023-A1B7-A9A43105FB04 Wed, 20 Jan 2010 07:03:07 -0800 In a move to shore up the FHA's beleaguered balance sheet, Commissioner David Stevens on Wednesday announced big changes at the government mortgage insurer that now backs about half of all home loans to the nation's minorities. http://www.cnbc.com/id/34947047 E42A0282-55AF-4E29-9F12-61FA34EE30D6 Wed, 20 Jan 2010 07:01:52 -0800 Congress is pressuring FHA to tighten the easy-money standards that once helped people buy homes. http://online.wsj.com/article/SB10001424052748704586504574654710172000646.html?mod=WSJ_hpp_MIDDLTopStories 2C0E3424-DC24-4F20-A24D-D151DFC951BD Tue, 19 Jan 2010 10:19:28 -0800 The U.S. Treasury Department has failed to win agreements to get struggling borrowers’ home- equity debt reworked, among the biggest roadblocks to reducing foreclosures that may reach a record 3 million this year. http://www.bloomberg.com/apps/news?pid=20603037&sid=aF5WM0c7D8Og 7C4E1224-9452-42EA-A345-B780EFDA7A2F Tue, 19 Jan 2010 10:18:15 -0800 Starting Feb. 1, housing regulators will suspend for one year a 90-day waiting period on property resales that it says has put FHA borrowers at a disadvantage in bidding on foreclosed properties. http://www.car.org/newsstand/newsreleases/todaysheadlines/inman/ 8CAE9B78-5480-4127-9A58-B0D38EF8AC7A Tue, 19 Jan 2010 10:17:11 -0800 Builder confidence in the market for newly built, single-family homes declined one point to 15 in January on continuing concerns about the poor job market. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=10260 4FC8197A-3217-4BB5-909B-25DAB368DF84 Tue, 19 Jan 2010 10:15:18 -0800 US home builder sentiment unexpectedly fell in January to the lowest level since June on concerns over the weak labor market and high foreclosure volume, according to a survey on Tuesday that pointed to a patchy recovery in the housing sector. http://www.cnbc.com/id/34937145 0EF7BBE4-E18D-4EB3-AFED-636CE63B9E71 Tue, 19 Jan 2010 10:13:34 -0800 The Irvine Co. announced that it now has enough buyers approved to buy nearly two-thirds of the homes planned for new developments being launched later this month in north Irvine’s Woodbury and Woodbury East neighborhoods. http://lansner.freedomblogging.com/2010/01/18/irvine-co-400-buyers-lined-up-for-new-project/52529/ 63E63683-130C-4D66-9CCF-4DAC56171005 Tue, 19 Jan 2010 07:54:39 -0800 3 coastal cities totaled 167 sales, up 45% compared to a year ago. http://southcoasthomes.freedomblogging.com/2010/01/18/home-sales-up-45-in-south-coastal-oc/ 5ED8AD06-AC36-4201-B23B-819CEEF16F53 Tue, 19 Jan 2010 07:52:20 -0800 A globe’s worth of real estate investors say that the U.S. continues to be the world’s best bet when it comes to property plays. http://lansner.freedomblogging.com/2010/01/18/us-seen-as-worlds-best-real-estate-bet/52485/ FE4D5705-6478-42B9-882F-12D95D8577F4 Tue, 19 Jan 2010 07:51:25 -0800 Showcase home won't be finished in time due to financial trouble http://www.marketwatch.com/story/a-tough-year-on-display-at-home-builders-show-2010-01-18 80984585-4B7E-41CB-AF10-F638B44F1F14 Tue, 19 Jan 2010 07:48:51 -0800 Shopping for a mortgage got easier this year with new, simple-to-understand good-faith estimate forms that all lenders are now required to use. http://www.marketwatch.com/story/clearer-mortgage-documents-make-shopping-easier-2010-01-18 3C3C4111-3437-4C14-A749-FD065406676D Tue, 19 Jan 2010 07:48:07 -0800 Members of the U.S. Congress begin 2010 scrambling to reduce the double-digit U.S. jobless rate, knowing their own jobs will be at stake in the November election if they fail to deliver. http://www.cnbc.com/id/34914981 35184511-8F0C-44BF-AD32-F53D62EA3CE9 Mon, 18 Jan 2010 07:46:16 -0800 After plunging by about 75% from the lofty levels during the housing bubble, new home construction has finally stopped falling. http://www.marketwatch.com/story/home-building-is-going-nowhere-2010-01-17 0A8DD40C-688F-4CE5-8D2D-2CE7353BB717 Sun, 17 Jan 2010 13:33:57 -0800 John Laing Homes filed for bankruptcy in February, and a receiver announced plans to auction the remaining eight units starting at 9 a.m. Saturday, with bidding to start well below the original prices. http://lansner.freedomblogging.com/2010/01/15/bankrupt-builders-homes-face-saturday-auction/52013/ 556F4899-436E-496F-9F9B-737E6B246CBB Sat, 16 Jan 2010 09:20:48 -0800 Orange County-based homebuilders were told Thursday that the recession may be over, but the future for the economy and the housing industry remains uncertain. http://lansner.freedomblogging.com/2010/01/15/home-sales-prices-seen-falling-in-2011/51967/ B63F733E-A785-4C40-9919-A8F58152EBC5 Sat, 16 Jan 2010 09:18:09 -0800 Lawrence Yun, the chief economist for the National Association of Realtors, said he wouldn’t be surprised if Southern California home prices increased as much as 10% this year. http://lansner.freedomblogging.com/2010/01/16/realtor-economist-says-socal-now-sellers-market/52073/ 7A3707A2-61AA-43DC-917C-7EA9150799D5 Sat, 16 Jan 2010 09:14:03 -0800 Thousands of homeowners participating in the Obama administration's foreclosure-prevention plan could miss a government deadline for completing necessary paperwork, putting them at risk of disqualification. http://online.wsj.com/article/SB10001424052748703657604575005112496393670.html 55D080E6-2918-4263-94F4-8FD1A506B4F7 Sat, 16 Jan 2010 08:32:54 -0800 In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan today announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. http://portal.hud.gov/portal/page/portal/HUD/press/press_releases_media_advisories/2010/HUDNo.10-011 62854E24-4286-487E-AA08-ECE0E569A804 Sat, 16 Jan 2010 08:27:42 -0800 To accommodate a "short-sale," banks that hold second mortgages are demanding extra money "off the books." http://www.cnbc.com/id/34877347 883EC86C-EA13-4410-AFAA-222ED730C8AC Fri, 15 Jan 2010 11:17:25 -0800 President Barack Obama's biting criticism of big banks frames the problem as a struggle between jobless, suffering Americans and banks making big profits and paying "obscene" bonuses. http://www.cnbc.com/id/34878456 BEFD0996-8FC0-4C51-A7CE-1CB1C4B1EC43 Fri, 15 Jan 2010 11:15:54 -0800 The search is on for a real estate brokerage firm hiring 200 to 300 agents for their newly-opened operation at the Laguna Design Center. http://www.ocregister.com/news/agents-229275-scrofani-niguel.html D7F64685-B1DD-4259-B6C0-2C3734C21314 Fri, 15 Jan 2010 08:22:50 -0800 While bailout money was given to many banks in 2009 to help stimulate the economy, the stricter rules for getting housing loans are making it a tough job for the qualified, self-employed borrower. http://realtytimes.com/rtpages/20100115_refinance.htm 6813B209-FDE9-485C-8F34-0F11DD3F1602 Fri, 15 Jan 2010 08:16:28 -0800 President Barack Obama Thursday proposed Wall Street banks pay $90 billion over 10 years to reimburse taxpayers for the financial bailout, as he slammed bankers for their "massive profits and obscene bonuses." http://www.cnbc.com/id/34856884 7754CC4B-6ECE-4FC0-9654-A2ABE0565F94 Fri, 15 Jan 2010 07:53:36 -0800 Bank of America says it's working hard to help struggling borrowers keep their homes but critics paint an entirely different picture. http://www.mcclatchydc.com/251/story/82367.html 984BC8A5-60BC-4360-B4A6-84824FA8D29B Thu, 14 Jan 2010 16:52:41 -0800 Freddie Mac announced that 30-year fixed-rate mortgage averaged 5.06 percent for the week ending January 14, 2010, down from last week when it averaged 5.09 percent. http://www.freddiemac.com/pmms/release.html?week=2&year=2010 18B793F1-DD54-449E-8B9B-4A3A4C9CF566 Thu, 14 Jan 2010 16:49:22 -0800 In the Golden State, 632,573 properties - 4.75 percent of the state's housing units - received a foreclosure filing in 2009, according to a report released Wednesday. http://www.dailybreeze.com/business/ci_14181818 8B4000A1-3234-4B7E-A7EB-43E5DFD3ACC3 Thu, 14 Jan 2010 16:47:44 -0800 US mortgage rates fell for a second consecutive week, a closely watched mortgage survey showed Thursday, a move that may help boost home loan demand and aid the housing market recovery. http://www.cnbc.com/id/34860053 A7751A22-5787-4F73-B480-B5052952CAC4 Thu, 14 Jan 2010 09:00:51 -0800 In the week ending Jan. 9, the advance figure for seasonally adjusted initial claims was 444,000, an increase of 11,000 from the previous week's revised figure of 433,000. http://www.workforcesecurity.doleta.gov/press/2010/011410.asp DA9E7822-C690-48E5-9429-007F782499EE Thu, 14 Jan 2010 07:15:42 -0800 A top U.S. bank regulator said on Thursday that watchdogs failed to control excesses in the financial system, letting record profits mask fundamental problems. http://www.cnbc.com/id/34858901 F75919C5-4238-4F4E-9224-8BA0A80C5ABE Thu, 14 Jan 2010 07:12:12 -0800 The number of newly laid-off workers requesting unemployment benefits rose more than expected last week as jobs remain scarce. http://www.cnbc.com/id/34857820 3A453F78-2EC0-4FBD-B568-E19E042B1E0E Thu, 14 Jan 2010 07:11:08 -0800 Foreclosures jumped 14 percent in December 2009 from the previous month, according to a new report from foreclosure listing Web site RealtyTrac.com. http://www.cnbc.com/id/34846937 D4C761F0-0971-48E0-9E3B-3925BC94183C Thu, 14 Jan 2010 07:08:32 -0800 Newly constructed hospitals, schools, shopping malls and homes in California will be some of the greenest in the world, after a state commission voted unanimously Tuesday to approve the most stringent, environmentally friendly building code standards of any state in the nation. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/01/13/MNDR1BH9SA.DTL&tsp=1 C308FEC6-4CAB-4B68-82A5-D2B6E65A05AA Wed, 13 Jan 2010 19:34:30 -0800 Payrolls have become the market's telltale sign for interest rate policy. http://www.cnbc.com/id/34828251 EFD1CA12-AA4B-4480-97E5-3C7FED1CF18C Wed, 13 Jan 2010 10:10:24 -0800 Recently the Treasury Department released new guidelines for its Home Affordable Foreclosure Alternatives Program (HAFA). http://southcoasthomes.freedomblogging.com/2010/01/13/with-this-program-help-short-sales-along/ F7869FAA-65D1-4DA6-A0A7-E84CB463BA66 Wed, 13 Jan 2010 08:03:05 -0800 51.2% of the moves last year were outbound from California, an outmigration rate virtually unchanged for 3 years. http://lansner.freedomblogging.com/2010/01/13/calif-van-moves-fall-4th-straight-year/51649/ 094C4FD9-01FC-4F3E-ACDA-A857B2543690 Wed, 13 Jan 2010 08:00:49 -0800 The U.S. Department of Housing and Urban Development said Tuesday it's taking a closer look at 15 mortgage companies to determine why they had such high rates of problems with FHA-insured mortgages. http://www.marketwatch.com/story/hud-subpoenas-15-over-failed-fha-mortgages-2010-01-12 07C27E24-10D5-4D02-8C99-A75B65C4E48B Wed, 13 Jan 2010 07:56:05 -0800 The Mortgage Bankers Association today announced that mortgage loan application volume increased 14.3 percent compared to a week earlier. http://www.mbaa.org/NewsandMedia/PressCenter/71558.htm F397DDB7-121A-45C2-B74C-2EFB638504EE Wed, 13 Jan 2010 07:47:29 -0800 U.S. mortgage applications rose in the first week of 2010, reflecting surging demand for home refinancing loans as interest rates dropped, industry data showed on Wednesday. http://www.cnbc.com/id/34837629 30C44550-8590-4BD2-B6D4-3AA027A209B8 Wed, 13 Jan 2010 07:45:56 -0800 The FDIC's proposal to raise insurance fees for banks that encourage risk-taking is aimed at shifting the burden to those particular banks and not at raising revenue. http://www.cnbc.com/id/34821949 F55957E8-9EEB-4328-BFB7-7BA5BDA6C4B0 Tue, 12 Jan 2010 10:07:27 -0800 U.S. residential mortgage originations are expected to plummet 40 percent in 2010 to their lowest level in a decade. http://www.cnbc.com/id/34823265 C4205052-9E7F-4393-80DC-1CDBA96CE61C Tue, 12 Jan 2010 10:04:39 -0800 Thousands of American homeowners are starting to see their monthly mortgage payments skyrocket, dealing a fresh blow to the already shaky housing recovery. http://www.cnbc.com/id/34729005 4F27D5B9-4517-4822-9FB0-8B6EFDC1C07E Tue, 12 Jan 2010 10:03:14 -0800 The Corona del Mar home on Bravo TV’s "Million Dollar Listing" has taken another price hit. http://lansner.freedomblogging.com/2010/01/12/million-dollar-listing-home-now-slashed-32/51447/ A97D19E4-A144-4695-8FFA-8369840FD275 Tue, 12 Jan 2010 07:36:15 -0800 A three-story mansion with ocean views on three sides sold last month for $19,777,777, a record sale price for Newport Coast. http://lansner.freedomblogging.com/2010/01/11/198-million-house-sets-newport-coast-record/51143/?preview=true E08AE1D9-B3DA-4DBC-93B0-347C887ABDFD Tue, 12 Jan 2010 07:34:33 -0800 The latest O.C. home inventory report shows demand for local homes is up 12% vs. a year ago http://lansner.freedomblogging.com/2010/01/11/demand-for-oc-homes-up-12/51571/ 65A1C9DD-B201-4C2E-B871-5C3398BA32D8 Tue, 12 Jan 2010 07:32:05 -0800 The 16 percent decline in November pending sales from October's unusually high index was due almost entirely to buyers' behavior confronting what they thought was an expiring tax credit. http://realtytimes.com/rtpages/20100112_realestateoutlook.htm 1E0D1C33-0CD7-4103-9C6C-6E5EF4F9DFE0 Tue, 12 Jan 2010 07:27:20 -0800 The Obama administration is aiming to hit banks with a fee to recoup losses associated with the government's bailout of financial firms and the auto industry, administration officials say. http://online.wsj.com/article/SB126322918488724799.html?mod=WSJ_hpp_LEFTTopStories 26620094-512E-4B81-B192-29858F18B529 Tue, 12 Jan 2010 07:24:40 -0800 Citing technical issues, a group of Southern California multiple listing services that have formed an alliance to pool listings data have put a temporary freeze on admitting new members http://www.inman.com/news/2010/01/11/carets-puts-brakes-new-members 4163F691-47B2-4BFE-95E8-8D77516F17F9 Tue, 12 Jan 2010 07:24:07 -0800 With home prices beginning to flatten in many areas around the country, home sellers are slowly gaining ground in their quest to hold on to the asking price. http://www.cnbc.com/id/34820701 09B0C70A-32FA-4016-9DA6-9D75E89830A7 Tue, 12 Jan 2010 07:20:19 -0800 KB Home said Tuesday it turned a profit in its fiscal fourth quarter, the first time since early 2007, as the homebuilder benefited from a new tax rule that allowed it to offset past losses. http://www.cnbc.com/id/34820742 F89F9547-0AE8-42E7-ADC7-E517B4D06165 Tue, 12 Jan 2010 07:18:49 -0800 Ten months into President Obama's first economic stimulus plan, a surge in spending on roads and bridges has had no effect on local unemployment and only barely helped the beleaguered construction industry, an Associated Press analysis has found. http://www.cnbc.com/id/34804897 6FEBC7BD-F395-4034-9E1D-20014FC17EA0 Mon, 11 Jan 2010 09:48:04 -0800 For the 22 business days ending Dec. 16, DataQuick reports that mid-OC had 867 sales with the median selling price $353,000, down 11% from a year ago. http://lansner.freedomblogging.com/2010/01/09/mid-county-home-sales-down-11/51239/ 1A29D083-095F-436E-A566-6B9A8B5AA2F2 Mon, 11 Jan 2010 08:37:34 -0800 U.S. construction-worker unemployment is 22.5% http://lansner.freedomblogging.com/2010/01/10/us-construction-unemployment-at-225/51325/ D8AFF71C-EFDA-454A-B311-898E21E8B2E9 Mon, 11 Jan 2010 08:36:30 -0800 The combination of the collapse of not only the housing market but pretty much the entire financial system and a severe recession as well has made survival the goal of most small homebuilders. http://lansner.freedomblogging.com/2010/01/09/small-homebuilders-goal-survival/51099/ 280F7C15-D8EC-464D-B89A-5F1C5AFC05CD Mon, 11 Jan 2010 08:34:53 -0800 Mortgage giant Fannie Mae is unhappy about the mounting thousands of REO houses it's stuck with, but now it's moving to sell off that inventory faster than it has in the past, potentially opening up some interesting opportunities for home buyers and their agents. http://realtytimes.com/rtpages/20100111_washingtonreport.htm 669AC9F3-346C-48E0-9AC0-C748E2F9ACD5 Mon, 11 Jan 2010 08:27:09 -0800 A new report shows that most countries that are highly indebted grow at sub-par rates. http://www.mcclatchydc.com/227/story/81969.html C3F975C6-40FE-4FAA-8C4B-8EAD96825B0F Mon, 11 Jan 2010 08:24:37 -0800 U.S. Federal Reserve monetary policy is unlikely to be pushed off course by December's surprising job losses, a senior Fed Official said on Monday. http://www.cnbc.com/id/34797733 D8392CE6-1362-40A0-8B00-C2C20F1F1683 Mon, 11 Jan 2010 08:13:37 -0800 President Obama announced Friday that he would be pushing for more spending on job-creation programs. http://www.cnbc.com/id/34767750 647D913E-2A03-4535-AED2-E01C96F2A95C Mon, 11 Jan 2010 08:11:45 -0800 Citywide sales totaled 254 - that’s +83% vs. a year ago. Countywide, sales were +12% vs. a year ago. http://irvinehomes.freedomblogging.com/2010/01/08/across-irvine-home-sales-are-up/12521/ 2051C8B8-6628-430F-91D4-FBCD622A977B Fri, 8 Jan 2010 08:01:58 -0800 California hotels are getting hammered by the recession and the changing buying habits of the newly thrifty guests who do come to visit. http://lansner.freedomblogging.com/2010/01/08/calif-hotel-foreclosures-rise-4-fol/51027/ C8805038-903C-4457-81C0-AC3F38888BC2 Fri, 8 Jan 2010 08:00:55 -0800 (Chart) The Employment-Population ratio continues to plunge, falling to 58.2% in December - the lowest level since 1983. http://www.calculatedriskblog.com/ 67CE07EA-716C-4A46-AD00-6D4C1A1CE353 Fri, 8 Jan 2010 07:55:18 -0800 President Barack Obama will discuss tax credits and new measures to revive economic growth in remarks expected later Friday, U.S. Labor Secretary Hilda Solis said Friday. http://www.cnbc.com/id/34765954 18AA2E88-8478-423E-87CA-2B062B635597 Fri, 8 Jan 2010 07:53:09 -0800 "In housing, we 're going through an abnormal cycle" http://www.cnbc.com/id/34752541 65D2FE35-7F42-4323-A26F-4FF50F1EDD58 Fri, 8 Jan 2010 07:50:19 -0800 Corporate America doesn't seem to have much faith in the economic recovery. http://www.cnbc.com/id/34765902 3C6083F3-3DF3-42B8-8234-6BBEEF9584F3 Fri, 8 Jan 2010 07:40:03 -0800 U.S. employers unexpectedly cut 85,000 jobs in December, government data showed on Friday, cooling optimism on the labor market's recovery and keeping pressure on President Barack Obama. http://www.cnbc.com/id/34764587/ 65E0651B-1A1B-496D-9AE5-F6B716875A2C Fri, 8 Jan 2010 07:39:06 -0800 Gov. Arnold Schwarzenegger’s proposed homebuyer’s tax credit would be available to first-time homebuyers only, a departure from the last tax credit, which was available to all homebuyers, the governor’s office confirmed late Wednesday. http://lansner.freedomblogging.com/2010/01/07/proposed-tax-credit-for-first-time-buyers-only/50899/ 4D4BAA8D-16DE-48EF-A64E-E3236DAA73D1 Thu, 7 Jan 2010 08:20:28 -0800 Mortgage rates dropped this week, an about face after weeks of creeping up, according to Freddie Mac's weekly survey of conforming mortgage rates, released on Thursday. http://www.marketwatch.com/story/after-late-year-rise-mortgage-rates-ease-2010-01-07 2DE2FB3D-C79C-44D3-9E9D-6EDF13D89A7E Thu, 7 Jan 2010 08:16:14 -0800 All it took was one bad home sales report (Pending Home Sales Index from the National Association of Realtors Tuesday) to turn the tide of sentiment from ebullient housing recovery to double dip doom. http://www.cnbc.com/id/34729477 F9F12B6A-9DE3-4652-A035-7984F97DFAFB Thu, 7 Jan 2010 08:14:34 -0800 More and more banks wish to show some sense of stabilization or profitability and many are taking the position of keeping them [REOs] on their books until after the first of the year. http://realtytimes.com/rtpages/20100107_wealth.htm D4BC4DA1-6EC0-4185-86D0-BF901D4DD1DC Thu, 7 Jan 2010 08:11:55 -0800 More than 20,000 California homebuyers could get state tax credits of up to $10,000 this year under a new stimulus proposed Wednesday by Gov. Arnold Schwarzenegger. http://www.sacbee.com/business/story/2443658.html ADF04B4D-2D21-4C81-919E-1BF71DDBD4EC Thu, 7 Jan 2010 08:09:33 -0800 The U.S. apartment vacancy rate rose to an almost 30-year high of 8 percent in the fourth quarter, and rents dropped in the biggest one-year slump in 2009, according to real estate research company Reis Inc. http://www.reuters.com/article/idUSN0614064020100107 E2018CA7-B9D0-4347-9CF1-01B26C183571 Thu, 7 Jan 2010 08:07:54 -0800 The number of U.S. workers filing new applications for unemployment insurance rose less than expected last week and a measure of underlying trends hit a nearly 16-month low, underscoring the improving labor market tone. http://www.cnbc.com/id/34745762 F4FAA5EE-0D5A-4797-8704-FE07F6C4B156 Thu, 7 Jan 2010 08:06:28 -0800 Lennar said Thursday that orders for new homes increased for the first time in more than three years as homebuyers took advantage of lower prices and a federal tax credit. http://www.cnbc.com/id/34746121 4D3A2904-2766-4EFA-B381-E2E259AED89C Thu, 7 Jan 2010 08:05:33 -0800 (Chart) The median price per square foot of an Orange County house remains at 2003 levels despite gains that occurred since January. http://lansner.freedomblogging.com/2010/01/06/house-price-per-square-foot-at-2003-levels/49783/ 6F344F65-4054-4813-A6DD-CCE1B08DAA3C Wed, 6 Jan 2010 09:09:23 -0800 Bucking the national trend, Orange County real estate brokerages likely earned about 1.1% more in real estate commissions in 2009 than in 2008 http://lansner.freedomblogging.com/2010/01/05/commissions-likely-up-1st-time-in-3-years/50213/ 086D9FDA-6404-4DEC-889B-188DD5787B0E Wed, 6 Jan 2010 09:08:08 -0800 The rate of job losses at U.S. private employers slowed in December, while planned layoffs at companies fell to the lowest in two years during the month, according to two reports released Wednesday. http://www.cnbc.com/id/34723139 078090D9-258F-4789-BE0B-1C8337DF890A Wed, 6 Jan 2010 09:02:38 -0800 Demand for U.S. mortgages held last week near six-month lows as the highest long-term borrowing costs since August stifled refinancing, a Mortgage Bankers Association survey showed on Wednesday. http://www.mortgagebankers.org/NewsandMedia/PressCenter/71462.htm 10B3D866-F065-46C5-89C1-5E50B6C097E6 Wed, 6 Jan 2010 09:00:16 -0800 At a hearing last fall, U.S. Treasury Secretary Timothy Geithner told lawmakers that he and his team were working to put the $700 billion financial bailout fund "out of its misery." But some in Washington now see a second, backdoor bailout in its place. http://www.cnbc.com/id/34711891 D3AC1E50-340B-41B7-AB62-EF12F1DE06D9 Tue, 5 Jan 2010 14:33:31 -0800 Former head of the Federal Housing Agency John Lockhart told CNBC on Tuesday that he wants more generous mortgage modifications including principal payment reductions. http://www.cnbc.com/id/34705107 3E2C1B3D-B33A-4868-A667-224C9C3B83EA Tue, 5 Jan 2010 08:24:01 -0800 The number of homes for sale in Irvine is climbing again following a dip over Christmas, according to Trulia.com. http://irvinehomes.freedomblogging.com/2010/01/05/post-holidays-irvine-home-inventory-growing/12319/ D5999BB8-6080-4434-88E3-A35E22E5B068 Tue, 5 Jan 2010 07:32:17 -0800 Though technically the third quarter likely marked the end of the recession, strains on various parts of the commercial/multifamily real estate market continue to be felt. http://www.mortgagebankers.org/NewsandMedia/PressCenter/71412.htm 8B120AF1-D093-4518-BE54-2AC052D57467 Tue, 5 Jan 2010 07:28:05 -0800 Now new market data from last week point to continued growth just ahead, but with an ominous warning sign as well. http://realtytimes.com/rtpages/20100105_realestateoutlook.htm B8037D66-4422-4845-A7FB-C0053CFC8244 Tue, 5 Jan 2010 07:20:20 -0800 Tens of thousands of Southern Californians will be forced to buy flood insurance because the federal government now says they live in risky areas. http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2010/01/04/state/n084410S02.DTL&tsp=1 913390B3-1E7F-4F6B-AA8F-FBEFEA489E34 Tue, 5 Jan 2010 07:16:16 -0800 The number of Americans filing for personal bankruptcy rose by nearly a third in 2009, a surge largely driven by foreclosures and job losses. http://online.wsj.com/article/SB126263231055415303.html 502C9721-2BEE-4D01-B487-FD0181754DE6 Tue, 5 Jan 2010 07:14:13 -0800 NAR's Pending Home Sales Index fell 16.0 percent to 96.0 from an upwardly revised 114.3 in October, but is 15.5 percent higher than November 2008. http://www.realtor.org/press_room/news_releases/2010/01/pending_surge/ 9428AD15-569C-4C5F-AC00-BC5A2FB4C7C7 Tue, 5 Jan 2010 07:11:39 -0800 The U.S. manufacturing sector grew for a fifth straight month in December while homebuilding activity pushed construction spending beyond a six-year low. http://www.cnbc.com/id/34688041 FBC431B6-3B02-4864-B226-64D56C7BCE2C Mon, 4 Jan 2010 11:12:01 -0800 It will be difficult to have a robust recovery while housing and commercial real estate are depressed. http://www.cnbc.com/id/34683378 530BAB86-114A-460F-B5B7-8AA0D99A80DE Mon, 4 Jan 2010 11:10:05 -0800 For the first time in two years, the U.S. economy may have seen a month in which more jobs were created than destroyed. http://www.cnbc.com/id/34680523 CA093426-6949-4337-A374-64A78BD9DEBE Mon, 4 Jan 2010 11:08:25 -0800 Here are the sales trends that appear from DataQuick’s freshest homebuying stats for the 22 business days ending Dec. 4 in our South Coast beach cities http://southcoasthomes.freedomblogging.com/2010/01/04/south-coast-home-sales-up-44-over-last-year/ 81DE8984-C2D2-4F3F-A8B0-AB9DAAC29417 Mon, 4 Jan 2010 07:40:09 -0800 Through November, local building permits for single-family homes filed by developers fell 3.5% from what had been the slowest year since World War II, the Construction Industry Research Board reports. http://lansner.freedomblogging.com/2010/01/04/homebuilder-nightmare-continues/49977/ 71014DB5-A6B8-44BD-9A13-6ACD36696273 Mon, 4 Jan 2010 07:38:36 -0800 Residential construction spending was off slightly in November, and is now only 5.8% above the bottom earlier in 2009. http://www.calculatedriskblog.com/ 80F8B8C0-879B-4B54-B0EF-0BCC35EE9D8C Mon, 4 Jan 2010 07:33:12 -0800 The Obama administration announced a blockbuster policy change over the holidays that didn't get a lot of press attention, but will affect the housing market for years. http://realtytimes.com/rtpages/20100104_washingtonreport.htm 088726BE-822A-45EB-B46C-9F086272C526 Mon, 4 Jan 2010 07:31:34 -0800 Forbes Magazine released study results by Local Market Monitor that showed the cities that lost the most value are concentrated in some areas of California, Florida, Nevada, and the Northeast. http://realtytimes.com/rtpages/20100104_homevalue.htm B11242A3-7876-4957-9753-1DCC67408249 Mon, 4 Jan 2010 07:30:10 -0800 Construction activity fell for a seventh consecutive month as spending on both residential and commercial projects declined, a worrisome sign that lingering troubles in construction will act as a drag on the overall economic recovery. http://finance.yahoo.com/news/November-construction-apf-998029220.html?x=0&.v=4 126CE56C-A71D-49B4-B7B1-E872C539F1F1 Mon, 4 Jan 2010 07:24:16 -0800 Federal Reserve Chairman Ben Bernanke said on Sunday that vigorous financial regulation would have been the best way to restrain the housing bubble that helped cause the deep recession, but policy makers can no longer rule out monetary policy to curb the buildup of risk. http://www.cnbc.com/id/34673202 7408BAF9-643E-468C-AB78-76E5B33CB3C8 Sun, 3 Jan 2010 08:55:21 -0800 When the Senate takes up a jobs bill later this month or early in February, the debate will center on whether it really will create jobs and be worth plunging the government tens of billions of dollars further into debt. http://www.cnbc.com/id/34673015 6C5CED91-45CF-43E7-AC22-D9A1707217D8 Sun, 3 Jan 2010 08:53:41 -0800 The Obama administration’s $75 billion program to protect homeowners from foreclosure has been widely pronounced a disappointment, and some economists and real estate experts now contend it has done more harm than good. http://www.cnbc.com/id/34664997 F9A4E4FC-78EC-42BB-86B5-6DD6FD0D4497 Sun, 3 Jan 2010 08:51:31 -0800 We are seeing sales above six-figures at an increasing rate because of affordable and available ‘jumbo’ financing that was virtually non-existent at this time last year. As to my guess at the median price increase for the county: 7.5% over the corresponding level in 2009. http://lansner.freedomblogging.com/2010/01/03/50079/50079/ B6FEA11D-0CCC-43A2-BCA0-2BE90DE95CBC Sun, 3 Jan 2010 08:47:48 -0800 Interest rates will be the biggest driving force, either maintaining high levels of sales activity due to affordability of monthly payments, or significantly reducing activity if they climb under inflationary pressures. http://lansner.freedomblogging.com/2010/01/02/consultant-eyes-45-home-price-gain-for-2010/49725/ C3087FB4-1B46-488B-84D1-20C739CDC195 Sun, 3 Jan 2010 08:46:17 -0800 In the high end we will continue to see a decline in prices and this is where the bargains will be in 2010. If the high end bottoms out it will be in the third quarter of 2010. http://lansner.freedomblogging.com/2010/01/01/bottom-eyed-for-high-end-in-late-2010/49687/ AD0D4591-DDF7-4187-B74E-401E37B13F88 Sun, 3 Jan 2010 08:44:15 -0800 The Orange County housing market is ending the year in style, with the fastest year-over-year appreciation in nearly 4 years. http://lansner.freedomblogging.com/2010/01/01/oc-home-gains-best-since-2006/50275/ 4AB7DF5C-B588-4AC0-8E58-E4DDA5384BF4 Sun, 3 Jan 2010 08:42:13 -0800 Banks and other lenders are still foreclosing on Americans' homes at a rate that's outpacing the Obama administration's main effort to stem the crisis. http://www.mcclatchydc.com/227/story/81534.html D5630E6F-E3AB-4C89-AAA7-FADFAA41A998 Sun, 3 Jan 2010 08:36:20 -0800 A new video helps struggling homeowners navigate the federal mortgage modification program. http://realtytimes.com/rtpages/20091231_mod.htm 6C872EB2-171B-4E14-A658-A6B8E3D8F341 Sun, 3 Jan 2010 08:34:54 -0800 We've been seeing a competition all year between cash flow investors and first time home buyers in California. This has pushed up prices in many low end distressed areas (but not all). http://www.washingtonpost.com/wp-dyn/content/article/2010/01/02/AR2010010201844.html 56A696A7-3AB0-413D-A11B-19C1059E7582 Sun, 3 Jan 2010 08:31:40 -0800 Auctions gained traction in last year's down housing market as a way to sell real estate -- in all price ranges. It's a trend I expect to see more of in 2010, and not just for bank-owned homes. http://latimesblogs.latimes.com/money_co/2010/01/2010-the-year-of-the-real-estate-auction.html 9EA06737-9257-4385-9C28-C44A905DAFC5 Sun, 3 Jan 2010 08:29:59 -0800 Freddie Mac today announced that 30-year fixed-rate mortgages averaged 5.14 percent for the week ending December 31, 2009, up from last week when it averaged 5.05 percent. http://www.freddiemac.com/pmms/release.html?week=53&year=2009&display=release B7AD4BDF-A0AD-489D-906F-AF03DE69EFE5 Thu, 31 Dec 2009 08:14:13 -0800 Citywide sales totaled 255 - that’s +80% vs. a year ago. Countywide, sales were +14% vs. a year ago. http://irvinehomes.freedomblogging.com/2009/12/31/irvine-home-sales-up-80-vs-a-year-ago/12195/ 35B52444-F80A-41BA-B91C-EC80DB57CB4E Thu, 31 Dec 2009 08:10:18 -0800 A median selling price for all residences in Orange County in 2000-2009 was $431,000 - roughly double the same pricing of the 1990s. http://lansner.freedomblogging.com/2009/12/31/oc-home-prices-doubled-in-decade/50235/ E6B2EA44-CE3A-47D4-BED7-775A0AB3F75A Thu, 31 Dec 2009 08:03:46 -0800 Above $500,000 it will continue to be a tough market, as there are very few move-up buyers from the lower price ranges with money to support the higher price structure. http://lansner.freedomblogging.com/2009/12/30/tough-market-eyed-for-high-end-housing/49131/ EC19C76D-AF14-4DF7-AD6A-D3EE8D1F40C7 Thu, 31 Dec 2009 07:55:17 -0800 "The real estate industry has seen tremendous change and evolution over the past decade," said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, AZ. http://www.realtor.org/press_room/news_releases/2009/12/decade_developments 3081AD64-108B-4D72-8572-EB4D809E9EC1 Thu, 31 Dec 2009 07:45:03 -0800 U.S. mortgage rates rose in the latest week for a fourth straight week and hit the highest level since August, a closely watched mortgage survey showed on Thursday. http://www.cnbc.com/id/34642047 C9F4E04D-553C-470D-980F-EA9C0168E32D Thu, 31 Dec 2009 07:32:57 -0800 New jobless claims fall unexpectedly to lowest level since July 2008 in sign of recovery http://finance.yahoo.com/news/Jobless-claims-fall-apf-2239818806.html?x=0&.v=19 0B0089D8-1999-475B-82EE-C42E293EFF57 Thu, 31 Dec 2009 07:27:57 -0800 Of the OC coastal cities, Huntington Beach has the shortest expected marketing time, followed by San Clemente, Dana Point and Laguna Beach. http://huntingtonhomes.freedomblogging.com/2009/12/30/the-fastest-moving-homes-on-ocs-coast/77729/ 798F089D-8057-414C-9D56-563CDB290347 Wed, 30 Dec 2009 09:05:44 -0800 A Yorba Linda real estate investor was charged with conspiracy to fraudulently obtain $12.5 million in loans to purchase multi-family homes. http://mortgage.freedomblogging.com/2009/12/30/oc-man-charged-in-mortgage-fraud/23459/ 8B3EA02F-A28E-447A-BD24-EFABA7262AA5 Wed, 30 Dec 2009 09:00:58 -0800 Bucking a national trend, Los Angeles-Orange County home prices rose 0.3% in October from September, the fifth month-to-month price gain in a row, according to the latest Case-Shiller Home Price Index. http://lansner.freedomblogging.com/2009/12/29/la-oc-home-prices-up-for-5th-month/49905/ 1E64C94E-3C1D-4048-B67E-B757835C97BC Wed, 30 Dec 2009 08:58:37 -0800 It would take 2.93 months for buyers to gobble up all homes for sale at the current pace vs. 5.93 months a year ago vs. 15.05 two years ago http://lansner.freedomblogging.com/2009/12/29/2009-cuts-home-selling-time-in-half/49821/ 4FEF4297-A188-48C2-B5B9-D838A24B68F9 Wed, 30 Dec 2009 08:55:24 -0800 More strapped borrowers are falling behind on their monthly payments during the recession as unemployment hovers around 10%. http://www.marketwatch.com/story/still-rising-delinquencies-dog-housings-recovery-2009-12-29 5F95B615-F7E5-4548-86F4-30E52C6C6F7D Tue, 29 Dec 2009 13:03:40 -0800 Home prices increase for the 5th straight month in October, signaling a recovery with momentum. http://finance.yahoo.com/news/Home-prices-rise-again-in-apf-1538286736.html?x=0&.v=10 9FB67769-0482-4C0F-8A8A-3701A79E1ECE Tue, 29 Dec 2009 12:58:26 -0800 The number of O.C. distressed properties was 2,537 last week, down 53% in a year. http://mortgage.freedomblogging.com/2009/12/29/distressed-homes-for-sale-off-53-in-a-year/23441/ A46C3B65-234D-4ACF-86EC-234FBD736084 Tue, 29 Dec 2009 08:18:32 -0800 This monthly data includes prices for 20 individual cities, and two composite indices http://www.calculatedriskblog.com/ 956C6F02-30A5-4590-8A56-F9842165B52B Tue, 29 Dec 2009 08:05:01 -0800 Survey says Americans spend 13 hours a week online, on average, nearly double the time spent online a decade ago. http://finance.yahoo.com/news/Time-spent-online-American-apf-912044751.html?x=0&.v=1 5DD8556C-E023-4E7C-A111-EF10BF7CF97B Tue, 29 Dec 2009 08:01:41 -0800 U.S. consumer confidence improved more than expected in December, hitting a three-month high as job market pessimism eased and consumers' expectations reached a two-year high, according to a private report released on Tuesday. http://www.cnbc.com/id/34620300 F31C1FF4-43A6-4274-88F4-62860BD967B9 Tue, 29 Dec 2009 07:40:22 -0800 U.S. home prices were unchanged in October, according to the widely watched Standard and Poor's/Case-Shiller indexes released on Tuesday. http://www.cnbc.com/id/34619746 EFEAAF7C-9A59-434A-BABD-BCC89003A05E Tue, 29 Dec 2009 07:39:04 -0800 While that might sound like outstandingly good news for people who want to pass along real estate to children or grandchildren tax-free, there's a major complication here. http://realtytimes.com/rtpages/20091228_washingtonreport.htm D9A4EA1F-C232-4489-8793-292442B9FC6D Mon, 28 Dec 2009 22:20:17 -0800 OC Register post the latest figures from DataQuick's region-by-region analysis of homebuying http://lansner.freedomblogging.com/2009/12/28/north-county-homebuying-still-sluggish/49635/ 462D0C62-3CB9-43D7-A1FE-DB67758F883D Mon, 28 Dec 2009 22:10:05 -0800 Santa Ana-based First American CoreLogic projects a 6.75% increase to occur in local house prices over the 12 months ending in October 2010, a slightly less optimistic outlook than seen in past months. http://lansner.freedomblogging.com/2009/12/28/68-house-price-gain-expected/49643/ 93905FD1-88E3-409B-9196-172308D2E755 Mon, 28 Dec 2009 22:04:00 -0800 Fannie Mae's gross mortgage portfolio shrank sharply in November while the delinquency rate on single-family loans it guarantees leaped in October, the government-controlled U.S. home funding company said on Monday. http://in.reuters.com/article/businessNews/idINIndia-45030520091228 FDD9AC14-E5BD-492F-B0E6-DAB85023B9D3 Mon, 28 Dec 2009 22:02:46 -0800 2010 won’t feel like a dramatic improvement in either price or sales volume, but small, incremental economic and market improvements will continue through next year, with more dramatic improvements forecast for 2011. http://lansner.freedomblogging.com/2009/12/28/dramatic-2011-housing-rebound-eyed/48591/ 2F677735-ED35-4B87-B983-86AE18556BA5 Mon, 28 Dec 2009 09:20:02 -0800 Many short sale transactions fall out because the buyer backs out of the deal after a period of time http://southcoasthomes.freedomblogging.com/2009/12/28/short-sale-pitfalls-buyers-walking/ 30D74D71-6403-41B9-BB50-2F51AAE0980C Mon, 28 Dec 2009 09:17:27 -0800 The latest NAHB/Wells Fargo Housing Market Index for December showed the West bucking national trends. http://lansner.freedomblogging.com/2009/12/27/western-homebuilding-on-the-mend/49617/ C2E26945-10DA-400F-BDCC-3CAC00CCBC4D Mon, 28 Dec 2009 09:15:48 -0800 Former Fed chief Alan Greenspan was a rock star. Now his successor, Ben Bernanke, is just trying to keep his job. http://www.mcclatchydc.com/economy/story/81310.html F920C210-F3FE-4953-9B6B-BCB707E324AB Sun, 27 Dec 2009 12:11:13 -0800 The Existing Home Sales were up last month while New Home Sales decreased sharply thus sending the Ratio of Existing to New Home Sales to a Record High. http://www.calculatedriskblog.com/ 138DA175-C138-44C1-9790-8B72420F161A Sun, 27 Dec 2009 11:58:48 -0800 The possibility that more lenders and homeowners might agree to short sales is a sign that the ills of the housing market and economy are likely to persist next year, some market watchers say. http://www.ocregister.com/articles/short-225651-lenders-sales.html A0A5F538-B1B5-4C12-B6E9-6A164C5085F1 Sun, 27 Dec 2009 11:56:29 -0800 Real estate brokers, investors and lenders from around the country will gather in Anaheim in January for a conference focusing on opportunities in the foreclosure market in 2010. http://huntingtonhomes.freedomblogging.com/2009/12/27/they-want-to-give-realtors-a-headache/77091/ 97D80C6D-A003-4F5E-A3B6-FDF3EA9C453A Sun, 27 Dec 2009 11:54:20 -0800 If you look at the number of available listings under $500,000 today, there are not enough to satiate demand. http://lansner.freedomblogging.com/2009/12/27/big-price-gains-for-cheaper-homes-eyed-in-2010/49045/ FE2D7B9A-BA58-4000-B034-0C38E395E5E7 Sun, 27 Dec 2009 11:49:11 -0800 Orange County will not support new construction activity until we begin to create jobs. With little or no gains predicted in 2010, we see few reasons to forecast any uptick in sales activity and prices over the next year. http://lansner.freedomblogging.com/2009/12/26/flat-pricing-eyed-for-oc-homes-in-2010/48265/ 5439B968-920A-498E-9107-A2BBEEBA5771 Sun, 27 Dec 2009 11:45:35 -0800 Sure you can lose weight, get in shape, launch a business or find a new job. But haven't you also procrastinated long enough about buying a home? http://realtytimes.com/rtpages/20091224_resolute.htm 453A9632-48DD-4077-B9D4-FEFC067F948E Sun, 27 Dec 2009 11:40:46 -0800 Hocking the house for quick cash is a lot harder than it used to be, and it's causing headaches for homeowners, banks and the economy. http://www.cnbc.com/id/34592393 00B5F689-016E-4A4C-BD57-07F002F8BD53 Sun, 27 Dec 2009 11:29:48 -0800 U.S. mortgage rates rose for a third consecutive week, a closely watched mortgage survey showed Thursday, piercing a key 5-percent level that may deter home loan demand and hinder the housing market's recovery. http://www.cnbc.com/id/34585611 59EC69E5-4744-4AD2-8FAB-EBE49292E988 Sun, 27 Dec 2009 11:25:32 -0800 A commission created by Congress to look into causes of the financial crisis will question the chief executives of Goldman Sachs Group Inc (GS.N), JPMorgan Chase & Co (JPM.N), Morgan Stanley (MS.N) and other big banks at its first public hearing next month. http://www.reuters.com/article/idUSN2316556720091223 4ADD2D55-9FBA-4D7B-8697-CCFBDCC49CAA Thu, 24 Dec 2009 10:44:38 -0800 Foreclosures already pocked Chicago's poorer neighborhoods but the downtown still was booming as the Federal Reserve Bank of Chicago convened its annual conference in May 2007. http://www.insidetract.com/index.html 97A75EA0-CB8F-44DF-8F1D-29836FE4132B Thu, 24 Dec 2009 10:34:04 -0800 Until May of 2007 Lereah vigorously worked to spin the story of housing in such a way as to produce the best and most optimistic outlook possible. http://seekingalpha.com/article/179338-citizen-lereah-repents EDC2DC04-AC66-49A6-956A-8248C9EEDC3C Thu, 24 Dec 2009 10:31:39 -0800 Harvey Miller, lead bankruptcy lawyer for Lehman Brothers Holdings Inc., says real estate bankruptcies may rise as lenders find they can no longer delay taking losses on their loans. http://www.bloomberg.com/apps/news?pid=20601206&sid=ag.aTxUryUjY C959F276-460C-4696-96C3-0450224C76A9 Thu, 24 Dec 2009 10:28:35 -0800 Reading the news the past two days, we learned that the $8,000 federal tax credit for first-time homebuyers both spurred and deterred home sales. http://lansner.freedomblogging.com/2009/12/23/does-tax-credit-help-or-hurt-home-sales/49363/ A41C1116-95F7-4123-92F0-055B1C86DDBB Thu, 24 Dec 2009 10:23:59 -0800 Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting. http://www.mcclatchydc.com/100/story/77791.html D59BFF83-015C-4BDC-9AC6-58735880B4D7 Thu, 24 Dec 2009 07:54:25 -0800 Pension funds and insurance companies lost billions of dollars on securities that they believed were solid investments while the Wall Street banks that sold them made financial bets against them by selling short. http://www.nytimes.com/2009/12/24/business/24trading.html?_r=1&partner=rss&emc=rss D03F7BFB-35C2-494E-B161-4ACDCB46FAA1 Thu, 24 Dec 2009 07:45:49 -0800 "Stripping House - Before Foreclosure," the ad declared, offering potential buyers the cabinets and countertops, the sinks and toilets, the doors, the appliances, the sprinklers. Even the palm and citrus trees in the yard were for sale, with a catch. http://www.cnbc.com/id/34577150 78D64A39-1CF0-4D50-888F-9C30B7E7BECF Thu, 24 Dec 2009 07:43:23 -0800 There is a lot of confusion out there today over how the first time home buyer tax credit extension figures into the Commerce Department's report on sales of new construction. http://www.cnbc.com/id/34574488 04E61022-349A-4191-8945-198EC3F1F90B Thu, 24 Dec 2009 07:35:53 -0800 The Senate voted Thursday to raise the ceiling on the government debt to $12.4 trillion, a massive increase over the current limit and a political problem that President Barack Obama has promised to address next year. http://finance.yahoo.com/news/Congress-raises-debt-ceiling-apf-4039204513.html?x=0&.v=7 3F0F8B27-3647-4BAC-A773-BD2AD182EC25 Thu, 24 Dec 2009 07:28:08 -0800 A fitful economic recovery is drawing strength from a stabilizing job market and signs that manufacturing will contribute to the rebound. http://finance.yahoo.com/news/Jobless-claims-durable-goods-apf-3900060894.html?x=0&.v=17 00D875E7-02E7-4091-86A7-2589568FAD55 Thu, 24 Dec 2009 07:26:25 -0800 The Commerce Department said sales dropped 11.3 percent, the biggest decline since January, to a 355,000 unit annual rate, from a downwardly revised 400,000 units in October. http://www.cnbc.com/id/34572660 68ECEECB-07D7-4122-8242-C3E9991A7785 Wed, 23 Dec 2009 07:10:29 -0800 The full effect of the housing crisis has not yet been felt because foreclosures are not happening fast enough, John Geanakoplos, a partner at Ellington Capital Management, told CNBC Wednesday. http://www.cnbc.com/id/34571747 ED6E4EE2-6B18-47FE-8826-569B381DB466 Wed, 23 Dec 2009 07:03:56 -0800 The Mortgage Bankers Association announced that mortgage application volume for the week ending December 18, 2009 decreased 10.7 percent compared to a week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/71389.htm 027BC79B-82A4-4CA2-929D-6D87D229025E Wed, 23 Dec 2009 07:00:16 -0800 Treasury Secretary Timothy Geithner said Tuesday the Obama administration is confident it will prevent a repeat of last year's financial crisis, the worst to hit the country in seven decades. http://www.cnbc.com/id/34571036 57D461FB-060B-43EE-8D3C-9B5E302CA909 Wed, 23 Dec 2009 06:58:56 -0800 An increasing number of Americans are dissatisfied with their banks. As a result more disgruntled consumers are switching to credit unions. http://www.cnbc.com/id/34135567 F22F39D9-2612-4C95-9E86-51DDBF87BBDF Wed, 23 Dec 2009 06:56:44 -0800 Personal incomes rose in November at the fastest pace in six months while spending posted a second straight increase, raising hopes that the recovery from the nation's deep recession might be gaining momentum. http://finance.yahoo.com/news/Incomes-and-spending-post-apf-55706162.html?x=0&.v=12 FEFD7696-5B95-4527-9D8E-9A272222BD45 Wed, 23 Dec 2009 06:54:49 -0800 Treasury Secretary Timothy Geithner says he believes it's reasonable to expect "positive job growth" by spring and that people should have confidence about an improving economic climate. http://finance.yahoo.com/news/Geithner-Job-growth-should-apf-480725069.html?x=0&.v=2 7B6DC0E9-1ED7-4E59-9AA1-04C47CEACAFA Wed, 23 Dec 2009 06:54:08 -0800 Sales of new homes are expected to have increased in November for the third month in a row, a sign that the housing market is finally on solid ground. http://finance.yahoo.com/news/November-new-home-sales-seen-apf-1326075865.html?x=0&.v=9 C8CB48B3-37E0-4A59-B242-A29B6EF5ED86 Wed, 23 Dec 2009 06:52:31 -0800 Existing-home sales rose again in November as first-time buyers rushed to close sales before the original November 30 deadline for the recently extended and expanded tax credit. http://www.realtor.org/press_room/news_releases/2009/12/another_respond 9A2D0603-5D57-4E3C-A318-50671505A7D7 Tue, 22 Dec 2009 07:41:52 -0800 The biggest changes to home loan disclosures since the 1970s are around the corner and many in the industry are warning that misunderstandings will create a logjam of confusion just as housing tries to recover. http://www.cnbc.com/id/34520977 D9BD85B0-4F46-46D7-B956-643CB1BD070F Tue, 22 Dec 2009 06:52:22 -0800 The economy grew at a 2.2 percent pace in the third quarter, as the recovery got off to a weaker start than previously thought. http://finance.yahoo.com/news/Recovery-not-as-strong-as-apf-2679594626.html?x=0&.v=12 AB2BEA73-5B01-47F1-A851-B7174263FABF Tue, 22 Dec 2009 06:49:23 -0800 With the nation's jobless making up a major part of future home foreclosures, advocacy groups are meeting with top Obama administration officials to seek ways to help keep the growing wave of unemployed borrowers in their homes. http://www.marketwatch.com/story/jobless-advocates-seek-more-foreclosure-relief-2009-12-21 D2C23F53-1F72-43AF-9AAB-7204DB515F33 Mon, 21 Dec 2009 15:01:17 -0800 More borrowers with mortgages serviced by national banks and savings and loans, which hold 34 million loans, or 65% of all outstanding U.S. mortgages, fell into arrears from July 1 to Sept. 30. http://www.latimes.com/business/la-fi-foreclosures22-2009dec22,0,7969044.story 9A02D28E-5E77-4763-8C87-505AF33F27C3 Mon, 21 Dec 2009 14:48:17 -0800 There were almost too many losers to name in this year-to-be-endured, and most of the winners were folks benefiting from the misfortune of others. http://realestate.msn.com/slideshow.aspx?cp-documentid=22833983 F426053B-DBE4-48FB-9439-105434792E32 Mon, 21 Dec 2009 14:45:59 -0800 On a month-over-month basis national home prices declined by -0.7 percent in October 2009 compared to September 2009. http://www.calculatedriskblog.com/ 220E2C5E-C1BE-462A-8F94-575A2B39A89D Mon, 21 Dec 2009 14:43:21 -0800 The once high-flying U.S. housing market, the primary culprit behind the global recession, is beginning to look like a bargain again. Just don't look too closely at the cracks in the foundation. http://www.cnbc.com/id/34513221 0E0612F6-D511-4546-B735-A56DB624CEAF Mon, 21 Dec 2009 14:39:23 -0800 The hiring of temporary workers has surged, suggesting that the nation’s employers might soon take the next step, bringing on permanent workers, if they can just convince themselves that the upturn in the economy will be sustained. http://www.cnbc.com/id/34509755 8AA414F4-6C26-47DC-A4FE-5403323AFCDD Mon, 21 Dec 2009 08:59:36 -0800 Economists at IHS Global and PNC Financial say in a new report that Orange County home prices in the third quarter were 6.9% too low. http://lansner.freedomblogging.com/2009/12/21/oc-home-prices-seen-7-too-low/48605/ 80820C87-53F3-49FC-947A-E1D3719C0CEA Mon, 21 Dec 2009 08:40:44 -0800 If we have indeed reached an economic turning point, economic policies won't be what puts the business climate seriously back into high gear. http://www.ocregister.com/articles/home-224888-big-barts.html 0F39BC30-BEF6-46D1-9D8F-A24216D9A67A Mon, 21 Dec 2009 08:39:09 -0800 Orange County construction work employed 75,600 last month, down 1,100 in a month and 11,700 in a year. http://lansner.freedomblogging.com/2009/12/19/oc-construction-jobs-at-9-year-low/48375/Orange%20County%20construction%20work%20employed%2075,600%20last%20month,%20down%201,100%20in%20a%20month%20and%2011,700%20in%20a%20year. A4E8FC9B-A24D-4803-8ABA-53FA8DB96A53 Mon, 21 Dec 2009 08:32:59 -0800 It appears that a bank owned foreclosure is likely to close escrow, while only a very small percentage of the short sales will close. http://huntingtonhomes.freedomblogging.com/2009/12/19/realtor-small-of-short-sales-close/75893/ 293EC610-C7E5-4586-ACEF-62ED47C0FC7A Mon, 21 Dec 2009 08:28:26 -0800 Congress took a major step last week toward eliminating what has been a painful thorn in the side of home sellers, Realtors, home builders, mortgage brokers and appraisers for months. http://realtytimes.com/rtpages/20091221_washingtonreport.htm 888E4917-773B-4EAD-9E77-BE1CE6331740 Mon, 21 Dec 2009 08:20:11 -0800 Homeowners who get a substantial cut in their monthly mortgage payments still stand a good chance of falling behind again, a report by two federal regulators says. http://www.cnbc.com/id/34510125 4382491B-3255-4CD6-A63C-0AB3AF027776 Mon, 21 Dec 2009 08:06:00 -0800 Do lenders just want the good holiday PR or do they just know that very few sheriff's are going to forcibly remove families during the holidays? http://www.cnbc.com/id/34481909 10C27AE3-FB79-48BC-AC5B-5F3B1C4B2D11 Fri, 18 Dec 2009 15:13:48 -0800 While the inventory of resale homes continues to dwindle in Irvine and multiple offers above asking price aren’t rare, America’s Safest City remains a buyer’s market. http://irvinehomes.freedomblogging.com/2009/12/18/is-irvine-still-a-buyers-market/11835/ C0AFFDB9-20E4-4ED5-9117-8D1B56F7A199 Fri, 18 Dec 2009 15:10:43 -0800 California's population growth slowed over the past year as tens of thousands of residents moved away. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/12/18/MNN51B5T8V.DTL&tsp=1 A1527742-6136-46CC-8581-02733E78136B Fri, 18 Dec 2009 15:08:54 -0800 A 'shadow' inventory of properties close to foreclosure or seized but not yet for sale has been growing. http://www.latimes.com/business/la-fi-foreclosures18-2009dec18,0,3770149.story 0EFBEA65-F2F4-45D9-A9F6-1793305F043B Fri, 18 Dec 2009 15:06:08 -0800 Georgian banks fuel the collapse - A Rockbridge too far http://www.calculatedriskblog.com/ F56FC545-E0A8-4525-84AE-20A2FC9039BA Fri, 18 Dec 2009 15:03:05 -0800 The dollar is likely to extend gains in the upcoming week, continuing to draw support from growing signs of a stable U.S. recovery as well as a Federal Reserve plan to wind down most of its emergency lending early next year. http://www.cnbc.com/id/34480636 F9E35831-AD23-4745-B54C-96E1268F5815 Fri, 18 Dec 2009 15:01:05 -0800 O.C. property owner slice fell for the 15th consecutive quarter this autumn. However, that decline was the smallest drop since the losing streak started. http://lansner.freedomblogging.com/2009/12/18/oc-property-index-falls-15th-time/48085/ CB5D87CE-E0D1-4398-9462-A8B240FD6D95 Fri, 18 Dec 2009 07:53:37 -0800 Some analysts say 2010 could be the peak year for foreclosures, with job loss, resetting loans and failed modifications all playing a role. http://huntingtonhomes.freedomblogging.com/2009/12/18/inside-surf-citys-foreclosure-pipeline/75849/ 44F43D58-E9BD-415D-AC2A-8AD3015CF328 Fri, 18 Dec 2009 07:52:34 -0800 Sales of Orange County homes for $700,000 or more have been edging up in recent months following an 80% plunge from the market peak to the price bottom. http://lansner.freedomblogging.com/2009/12/17/high-end-home-sales-edging-back-up/47991/ 7BB8110A-42AC-4B92-8810-A1DFDBB79C86 Fri, 18 Dec 2009 07:47:41 -0800 Real estate investors are facing a squeeze play on Capitol Hill, with important tax incentives nearing an end-of-the-year deadline. http://realtytimes.com/rtpages/20091218_investorreport.htm 02E1FE7D-2A5D-4D3D-B6CD-AFC078F4B537 Fri, 18 Dec 2009 07:41:51 -0800 Freddie Mac will suspend all evictions involving foreclosed occupied single family and 2-4 unit properties from December 19, 2009 to January 3, 2010. http://www.freddiemac.com/news/archives/servicing/2009/20091217_evictions.html C4D02593-B9B9-4475-9676-E523DFBE89D2 Fri, 18 Dec 2009 07:37:31 -0800 An estimated 35,860 new and resale houses and condos were sold statewide last month. That was down 13.1 percent from 41,280 in October, and up 11.5 percent from 32,163 for November 2008. http://www.dqnews.com/Articles/2009/News/California/RRCA091217.aspx 0F925288-9D9B-4C7C-B4C4-0E6B72A2E6D1 Fri, 18 Dec 2009 07:34:34 -0800 "We're taking this step in support of struggling families who have unfortunately found themselves facing foreclosure," said Michael J. Williams, Fannie Mae resident and Chief Executive Officer. "No family should have to face the prospect of being evicted during the holiday season." http://www.cnbc.com/id/34466593 6B490732-4B62-4E29-BAAA-60A0E82A95C1 Thu, 17 Dec 2009 16:54:18 -0800 Freddie Mac announced today that 30-year fixed-rate mortgage averaged 4.94 percent for the week ending December 17, 2009, up from last week's average of 4.81 percent. http://www.freddiemac.com/pmms/release.html?week=51&year=2009&display=release 376BDC37-6DA4-4E6D-A364-59A2C6D1C060 Thu, 17 Dec 2009 09:52:00 -0800 As we move into the winter season, you can expect the pace of home sales to slow down. http://southcoasthomes.freedomblogging.com/2009/12/16/south-coast-home-sales-pace-continues-freeze/ 4F599E87-2345-4CD8-AEB6-C7A98E577CBE Thu, 17 Dec 2009 08:03:16 -0800 Mortgage rates rise, but the the 30-year loan holds below 5% for the seventh straight week. http://www.marketwatch.com/story/mortgage-rates-jump-but-30-year-holds-below-5-2009-12-17 48E38F03-66B0-466E-9378-760C9B0CDA2D Thu, 17 Dec 2009 08:01:16 -0800 The overall decline in production volume combined with higher per-loan production expenses has pulled down profits. http://www.mortgagebankers.org/NewsandMedia/PressCenter/71371.htm 528521C7-0AED-4649-ABB5-61801D24EC34 Thu, 17 Dec 2009 07:57:00 -0800 Yields are lower this morning following a worse than expected read on the labor market. http://www.mortgagenewsdaily.com/mortgage_rates/blog/124667.aspx 29B42742-DC99-4EBB-B5A2-7D5C2B4F1159 Thu, 17 Dec 2009 07:53:06 -0800 One thing that surprises everybody is that you can actually modify a loan that’s not yet in default http://realtytimes.com/rtpages/20091217_successful.htm 9C41221C-FEB7-4BEB-BEBB-2ECAFB215D08 Thu, 17 Dec 2009 07:49:40 -0800 The number of U.S. workers filing new applications for jobless insurance unexpectedly rose last week, according to government data on Thursday that still suggested the labor market was improving. http://www.cnbc.com/id/34460747 48EF3177-8165-4D4E-951E-48471C20DF1D Thu, 17 Dec 2009 07:27:32 -0800 The Conference Board's gauge of future economic conditions rose in November, for its 8th straight monthly increase, boosted by improving financial conditions, employment and housing, the private research group said Thursday. http://www.cnbc.com/id/34462653 9ADD02E0-7AD7-43F7-BF7B-7D5EFF5C1459 Thu, 17 Dec 2009 07:26:18 -0800 Even as the biggest banks repay their government debt in what is being heralded as a successful rescue program, four troubled giants of the financial world remain on government life support. http://www.cnbc.com/id/34459365 30F87B33-AEE6-400E-AA2D-1794ECE8213B Thu, 17 Dec 2009 07:25:19 -0800 The Federal Reserve, as expected, decided to hold interest rates at a record low and pledged to keep them there for an "extended period" to keep the recovery going and drive down double-digit unemployment. http://www.cnbc.com/id/34449144 8A40FBEC-7222-440A-B804-E354F9DAB590 Wed, 16 Dec 2009 11:30:03 -0800 The US Treasury is working on "a number of fronts" to use the government's $700 billion bailout fund to boost lending to small businesses. http://www.cnbc.com/id/34447524 F440AEAA-AF0C-4D8F-82DC-EB6B30715DD7 Wed, 16 Dec 2009 11:29:07 -0800 Southern California’s housing market continued its step-by-step climb up from the January-February bottom as both sales and prices saw gains last month. http://www.dqnews.com/Articles/2009/News/California/Southern-CA/RRSCA091215.aspx C7DA543B-67B9-448C-B190-5D3549D7CCBC Wed, 16 Dec 2009 08:09:47 -0800 The Mortgage Bankers Association today announced that mortgage loan application volume increased 0.3 percent compared to a week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/71362.htm A06A9CE1-13FB-42F4-A5BD-458B10C404DA Wed, 16 Dec 2009 08:04:43 -0800 New U.S. housing starts rose but were lower than expected in November as construction activity for single family dwellings increased only marginally, a government report showed on Wednesday. http://www.cnbc.com/id/34444133 89194E93-5C72-4BAD-A25C-BC515C1B9A0B Wed, 16 Dec 2009 08:03:16 -0800 US home buyers are less willing to buy foreclosed properties than they were six months ago, citing risks like hidden costs. http://www.cnbc.com/id/34434055 73C1EB83-CE5D-4203-B8A6-8BDAA47930F6 Tue, 15 Dec 2009 17:04:38 -0800 US home builder sentiment unexpectedly fell in December on concerns over the weak labor market, according to a survey Tuesday that pointed to a patchy recovery in the housing sector. http://www.cnbc.com/id/34431815 802BBEE2-3532-40E5-A143-F94DD03BD89C Tue, 15 Dec 2009 17:02:23 -0800 The condo is on Ocean Boulevard, overlooking Newport Harbor and beyond. It was purchased in April 2004 for $3 million. http://lansner.freedomblogging.com/2009/12/13/tiger-woods-newport-beach-pad/47391/ 885CB52D-8D99-4350-AAA5-CE25ADFB94FF Mon, 14 Dec 2009 07:54:45 -0800 For the 22 business days ending Nov. 20, DataQuick’s homebuying stats show that of HB's 4 ZIP codes, 2 had a gain in their median selling price vs. a year ago. http://huntingtonhomes.freedomblogging.com/2009/12/14/2-hb-zips-see-median-price-gains/75331/ A7510485-A9B5-4CB5-A620-7D227E623A9A Mon, 14 Dec 2009 07:51:13 -0800 More short sales are continuing to hit the market in our south coast cities, and there’s more where that came from. http://southcoasthomes.freedomblogging.com/2009/12/14/south-coast-homes-status-of-short-sales/ FCCA6F93-9295-4A41-9B49-9B508BCFACF3 Mon, 14 Dec 2009 07:49:32 -0800 Newport Beach again topped all Orange County cities in price cuts for homes on the market, according to online hometracker Trulia.com. http://lansner.freedomblogging.com/2009/12/13/newport-leads-home-price-cuts-again/47143/ BD6A3937-4DFB-4ABA-9E6B-F129C5503A87 Mon, 14 Dec 2009 07:47:03 -0800 The Federal Housing Administration puts its long-awaited new financing rules for condominium units into operation last week -- immediately affecting sales in hundreds of condo projects across the country. http://realtytimes.com/rtpages/20091214_washingtonreport.htm EDBA458C-D06C-4790-A77C-36B2284FEA07 Mon, 14 Dec 2009 07:40:33 -0800 The Mortgage Bankers Association's (MBA) current forecast for refinance activity in 2010 is $693 billion, and falling further in 2011 to $591 billion. http://www.calculatedriskblog.com/ 4BA4A4B2-A0DE-40FF-AD34-5023E4BCD463 Mon, 14 Dec 2009 07:37:50 -0800 Banks that once handed out home loans freely are imposing such stringent requirements that many homeowners who might want to refinance are effectively locked out. http://www.cnbc.com/id/34395705 9BC93333-2D08-45AC-9857-601C9D70C908 Mon, 14 Dec 2009 07:36:04 -0800 The Federal Reserve will likely close out the year this week by repeating a pledge to keep interest rates extraordinarily low for an extended period even as it nods to signs of economic healing. http://www.cnbc.com/id/34405812 CAED1AFD-5F15-4CCD-ABF7-9EF93B15B9E7 Mon, 14 Dec 2009 07:35:07 -0800 Bank failures will continue to accelerate into next year despite "some encouraging signs" that things are turning around for the battered industry, FDIC Chair Sheila Bair told CNBC. http://www.cnbc.com/id/34415057 FDE193D9-79A8-476C-8230-639B2C14935E Mon, 14 Dec 2009 07:34:13 -0800 The USC Casden Forecast predicts at least two more years of pain for offices in Orange County and Southern California as a whole. http://lansner.freedomblogging.com/2009/12/11/office-rents-could-drop-30/47155/ 0D1E33D6-43F0-46BA-9DB6-D1491214FE15 Fri, 11 Dec 2009 15:21:51 -0800 Zillow, the pioneering online real estate database, offers up unique perspectives of the real estate world. http://lansner.freedomblogging.com/2009/12/11/hear-why-home-price-rally-may-not-last/47287/ A2B1DBC5-C407-4D08-99B8-79558B524D14 Fri, 11 Dec 2009 15:18:39 -0800 In a win for the banking industry, the U.S. House of Representatives voted on Friday to reject a measure that would have allowed bankruptcy judges to change the terms of mortgages for distressed homeowners. http://www.mortgagenewsdaily.com/12112009_mortgage_cramdown.asp ED49014D-3BE5-4235-9D57-7CDA4C5437DE Fri, 11 Dec 2009 15:17:16 -0800 Freddie Mac reported that 30-year fixed-rate mortgage averaged 4.81 percent for the week ending December 10, 2009, up from last week when it averaged 4.71 percent. http://www.freddiemac.com/pmms/release.html?week=50&year=2009&display=release 98783BEF-D8F4-44C5-AB0E-2868B96C0BFB Fri, 11 Dec 2009 15:14:14 -0800 For the first time, today, the U.S. Department of Treasury is releasing the number of trial mortgage modifications in its $75 billion Home Affordable Modification Program that went permanent. http://www.cnbc.com/id/34366352 93CE9B14-2C33-4D84-A1EA-A719771CB703 Fri, 11 Dec 2009 14:57:09 -0800 According to the Costa Mesa research firm, homebuyers signed 90 contracts to buy a new Orange County home that month, up 13.9% from October 2008. http://lansner.freedomblogging.com/2009/12/09/losing-streak-ends-for-oc-builders/46889/ 016DF74F-000D-4CAC-838C-104D30E5B072 Thu, 10 Dec 2009 07:46:24 -0800 CalPERS owned real estate worth $13.4 billion at June 30, a decline of $4.2 billion or 24% from the previous quarter and an $8.6 billion or 39% decline from a year ago. http://lansner.freedomblogging.com/2009/12/09/calpers-real-estate-down-49-in-year/46897/ 734C1D1E-6637-47EC-9BC2-F40D5B5EEA77 Thu, 10 Dec 2009 07:44:45 -0800 For the fourth straight month foreclosure activity nationwide has declined according to information released by RealtyTrac. http://www.mortgagenewsdaily.com/12102009_realtytrac_foreclosure_filings_down_8_in_november.asp 4E67F3DA-2D0D-42C6-A871-15047450D1C9 Thu, 10 Dec 2009 07:37:35 -0800 The Mortgage Bankers Association announced that mortgage loan applications rose 8.5 compared to a week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/71300.htm CE111EA8-0743-4D45-8235-7E6B6D598EFA Thu, 10 Dec 2009 07:32:38 -0800 Thanks to a rare confluence of factors -- mortgages that far exceed home values and bargain-basement rents -- a growing number of families are concluding that the new American dream home is a rental. http://online.wsj.com/article/SB126040517376983621.html BC0A1942-F361-4DCD-9656-5992448E28A7 Thu, 10 Dec 2009 07:29:24 -0800 New jobless claims rise more than expected to 474,000, continuing claims fall sharply http://finance.yahoo.com/news/New-jobless-claims-rise-more-apf-2526943026.html?x=0&.v=10 073FA97F-8DFD-40DB-9EF1-53058575D01C Thu, 10 Dec 2009 07:24:39 -0800 More short sales are continuing to hit the market in our south coast cities, and there’s more where that came from. http://southcoasthomes.freedomblogging.com/2009/12/08/240-short-sales-closed-in-2009-on-south-coast/ 8DF507FA-4507-4381-BD9F-874A711CFD49 Tue, 8 Dec 2009 09:06:52 -0800 Orange County lender New Century mislead its investors “through mathematical chicanery” charges the Securities and Exchange Commission. http://lansner.freedomblogging.com/2009/12/07/how-oc-lender-may-have-tricked-investors/46617/ D85B8403-425F-4722-8A86-CB6A33C00FC7 Tue, 8 Dec 2009 09:05:28 -0800 The Environmental Protection Agency has announced new storm water management requirements for builders that don’t effectively address water quality and environmental issues http://www.nahb.org/news_details.aspx?sectionID=148&newsID=10074 F8E234FE-03AA-4360-ABE1-E60A726EEEDA Tue, 8 Dec 2009 09:02:26 -0800 Federal Reserve Chairman Ben Bernanke warned Monday that it's too soon to know whether the economic recovery will last and again pledged to hold rates at record-low levels for an "extended period." http://www.msnbc.msn.com/id/34313936/ns/business-stocks_and_economy/ FEF478D9-B4A3-45C5-8C87-2BACBCF82B4B Tue, 8 Dec 2009 09:00:19 -0800 A majority of the 3.2 million borrowers targeted by the U.S. Treasury Department for mortgage relief under the administration’s foreclosure prevention program are unlikely to qualify, an agency official said. http://www.calculatedriskblog.com/ 101C4426-062D-41BF-A331-6B1A7B6365DC Tue, 8 Dec 2009 08:58:13 -0800 Freddie Mac said Tuesday that its Conventional Mortgage Home Price Index registered a 0.9 percent quarterly gain during the third quarter 2009 for the U.S. http://www.cnbc.com/id/34327553 5A591760-B3EF-4A7C-8CBC-EF00F2BCDAEC Tue, 8 Dec 2009 08:44:28 -0800 For the 22 business days ending Nov. 12, DataQuick’s freshest homebuying stats show these trends in Surf City http://huntingtonhomes.freedomblogging.com/2009/12/07/home-prices-up-in-1-surf-city-zip/74199/ EF7D13E5-187E-4304-961E-78305D246901 Mon, 7 Dec 2009 13:25:23 -0800 Delinquency rates continued to increase in the third quarter for most commercial/multifamily mortgage investor groups. http://www.mortgagebankers.org/NewsandMedia/PressCenter/71276.htm 8DB5AF8C-F178-49FA-AE69-6328827C5B3F Mon, 7 Dec 2009 13:19:30 -0800 Tomorrow the House Financial Services Committee, under the leadership of Chmn. Barney Frank, will grill mortgage servicers as members examine the "response to the mortgage foreclosure crisis." http://www.cnbc.com/id/34316590 A71E31ED-B995-40C6-ADC5-C7CF2E5CE321 Mon, 7 Dec 2009 13:16:11 -0800 HUD Secretary Shaun Donovan made it official last week: Applicants for FHA insured mortgages in the coming months are going to be hit with higher costs and tougher credit standards. http://realtytimes.com/rtpages/20091207_washingtonreport.htm A4810328-1C88-40C9-BD43-B03F55A72A5D Mon, 7 Dec 2009 13:14:52 -0800 Many home sellers are losing money - precisely because they're determined not to lose money. So why won't your home sell? http://www.cnbc.com/id/34313137 0E6D3680-D548-4B45-866B-789B4AB867B6 Mon, 7 Dec 2009 12:59:35 -0800 The Federal Reserve will keep interest rates near zero in 2010, but longer-term rates will gradually tick higher because of supply and demand, Bill Gross, founder of Pimco, told CNBC Monday. http://www.cnbc.com/id/34315516 AD83F83C-516E-4D35-AEFB-32B02341DF6F Mon, 7 Dec 2009 12:55:36 -0800 OK. Who’s got the pricing right? Here’s what we’ve seen lately from various price trackers of the Orange Country housing market http://lansner.freedomblogging.com/2009/12/03/oc-home-prices-up-down-or-flat/46431/ A411DAC2-CCA4-4E44-8A24-698B07A0C498 Fri, 4 Dec 2009 08:13:46 -0800 Although the interest rate on a 30-year mortgage is the lowest it has been in almost four decades, it is not the medicine that will revive Inland Southern California's housing market, real estate experts said Thursday. http://www.pe.com/business/realestate/stories/PE_Biz_S_mortgages04.37376ef.html 9FE0D071-C655-4F39-A0AE-FAC9E04C9964 Fri, 4 Dec 2009 08:05:42 -0800 Typically retail companies start hiring for the holiday season in October, and really increase hiring in November http://www.calculatedriskblog.com/ E141EFE6-CDBF-4E89-A619-424777E81E90 Fri, 4 Dec 2009 08:02:50 -0800 The unemployment rate unexpectedly fell to 10 percent in November as employers cut the smallest number of jobs since the recession began. http://finance.yahoo.com/news/Nov-jobless-rate-falls-to-10-apf-4164274048.html?x=0&.v=19 7DD47BDB-0E4E-4E20-8559-9ED424401873 Fri, 4 Dec 2009 07:47:59 -0800 The meltdown of the U.S. housing market is not over yet, and home prices will soon start trekking downward again as a flood of foreclosures looms http://www.cnbc.com/id/34242187 8AB12D28-AFF0-4DA3-9830-E84190F40FD9 Thu, 3 Dec 2009 08:09:46 -0800 The Obama administration's No. 1 job right now is to rev up economic growth and get companies to start creating jobs again, Treasury Secretary Timothy Geithner said Thursday. http://www.cnbc.com/id/34254945 CD12D3F2-3057-4867-A835-EAEAFC94F2BA Thu, 3 Dec 2009 07:40:31 -0800 The number of U.S. workers filing new applications for jobless insurance unexpectedly fell last week to the lowest level in more than 14 months http://www.cnbc.com/id/34254761 95CDC392-6310-446C-A19A-01E94B39544D Thu, 3 Dec 2009 07:38:45 -0800 First-time buyers and investors pushed Las Vegas-area home sales higher in October as the overall median sale price held at $130,000 for the fourth consecutive month. Other price measures registered slight declines from September, a real estate information service reported. http://www.dqnews.com/Articles/2009/News/Las-Vegas/RRCLNV091201.aspx B06499FA-89D0-496F-B5AD-72D5DFFF01A3 Thu, 3 Dec 2009 07:36:50 -0800 The average interest rate for a 30-year mortgage dropped to a record low of 4.71 percent this week. The rate is the lowest since Freddie Mac began tracking the data in 1971 http://finance.yahoo.com/news/Rates-on-30year-mortgages-set-apf-646421176.html?x=0&.v=2 817B613C-9170-4FB1-A60A-AFAABF9B0DE0 Thu, 3 Dec 2009 07:34:34 -0800 The Mortgage Bankers Association today released its Weekly Mortgage Applications Survey indicating that loan application volume increased 2.1 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/71231.htm 15AAB2BE-FE35-425D-B423-253B295F6596 Thu, 3 Dec 2009 07:30:03 -0800 Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2009/12/nine_sales 9D9FB119-5EE7-443C-8D03-0FE32278FC36 Tue, 1 Dec 2009 07:31:43 -0800 The Administration has announced that it will mandate additional changes to it’s Making Home Affordable but are there factors beyond the control of the lenders?. http://www.mortgagenewsdaily.com/channels/voiceofhousing/121563.aspx 6ED3AC9C-2625-47BE-8A3C-EECC71281834 Tue, 1 Dec 2009 07:26:39 -0800 State officials say that property taxes will probably fall for most California property owners next year due to deflation, the first such property tax cut since Prop. 13 took effect three decades ago. http://lansner.freedomblogging.com/2009/12/01/state-ruling-to-cut-most-property-taxes/46043/ FD5B2BFD-9965-4892-9084-96FDF0E3465F Tue, 1 Dec 2009 07:22:37 -0800 Faced with sluggish progress in its foreclosure-prevention effort, the Obama administration will spend the coming weeks cracking down on mortgage companies that aren't doing enough to help borrowers at risk of losing their homes. http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/11/28/national/w170610S38.DTL 33C78651-03AD-47CA-B815-BEEBE62A1F13 Tue, 1 Dec 2009 07:14:31 -0800 The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed "short sales" of homes and other loan modification alternatives to stem a rising tide of foreclosures. http://www.reuters.com/article/ousivMolt/idUSTRE5AT5X520091130 2E2F3AAF-4D0E-48F0-9861-B28C7643759B Tue, 1 Dec 2009 07:13:05 -0800 Today the Treasury Department announced a "Mortgage Modification Conversion Drive," designed to push servicers to move borrowers in the government's Home Affordable Modification Program from the initial trial phase to the permanent phase. http://www.cnbc.com/id/34211062 F7FD09C1-9520-4CB2-88EC-BEBE8F99D71B Tue, 1 Dec 2009 07:06:12 -0800