Latest Real Estate News http://www.insidetract.com http://blogs.law.harvard.edu/tech/rss en-us Fri, 18 May 2012 06:57:46 -0700 info@insidetract.com Fri, 18 May 2012 06:57:21 -0700 5 larrystimson@verizon.net FeedForAll v2.0 (2.0.2.9) http://www.feedforall.com While the American dream of homeownership is still an unending quest, the size of home that people are buying will be smaller and many will rent for a good while before they can afford that dream home. http://realtytimes.com/rtpages/20120518_market.htm C653AFCC-0699-41D8-8361-F02614A733E5 Fri, 18 May 2012 06:57:21 -0700 The first quarter of 2012 was the best first quarter for real estate in five years, and pending contracts suggest that the second quarter of 2012 will be the best second quarter in five years, NAR Chief Economist Lawrence Yun said this morning at the Residential Economic Update during the NAR Midyear Legislative Meetings & Trade Expo. http://realtormag.realtor.org/daily-news/2012/05/17/positive-signs-abound-for-housing 982EF0C2-4404-4DFF-BFA1-55735983AFE2 Fri, 18 May 2012 06:55:39 -0700 Between 2006 and the first quarter 2010 the "shadow" of the "shadow supply" was rising and rising. Since then, the shadow supply of distressed properties has been shrinking. http://lansner.ocregister.com/2012/05/17/analyst-foreclosure-shadow-over-housing-is-shrinking/162804/ 664FACE5-5F9E-4CC7-8F0C-530B93CEB3AB Fri, 18 May 2012 06:50:09 -0700 In Riverside and San Bernardino counties, 1 in every 213 homes is in some phase of foreclosure, highest of any major metro area. http://www.pe.com/business/business-headlines/20120517-real-estate-inland-empire-tops-dubious-foreclosure-list.ece 4F9EA4BF-A37B-425B-A3F7-10374BD0A63A Fri, 18 May 2012 06:47:27 -0700 RealtyTrac® ... released its U.S. Foreclosure Market Report for April 2012, which shows foreclosure filings - default notices, scheduled auctions and bank repossessions - were reported on 188,780 U.S. properties in April, the lowest monthly total since July 2007. http://www.realtytrac.com/content/foreclosure-market-report/foreclosure-rates--us-foreclosure-trends-april-2012-7194 2090DC21-D646-4440-9025-26A1AA377BE8 Fri, 18 May 2012 06:39:16 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.79 percent with an average 0.7 point for the week ending May 17, 2012, down from last week when it averaged 3.83 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=128583 E36BE400-1CE8-491C-860B-D98EA43E6098 Fri, 18 May 2012 06:36:39 -0700 The trading losses suffered by JPMorgan Chase have surged in recent days, surpassing the bank’s initial $2 billion estimate by at least $1 billion, according to people with knowledge of the losses. http://www.cnbc.com/id/47455430 375C154C-8CD7-44C7-A436-46B6DF98F56E Thu, 17 May 2012 07:35:11 -0700 In the week ending May 12, the advance figure for seasonally adjusted initial claims was 370,000, unchanged from the previous week's revised figure of 370,000. http://www.calculatedriskblog.com/2012/05/weekly-initial-unemployment-claims-at_17.html AC8CB4A1-39AC-4FCF-B096-7BEB834F9D8F Thu, 17 May 2012 07:32:14 -0700 The recovery has been inhibited so far due to lenders' reluctance to originate enough new mortgages to meet buyer demand, experts said yesterday at the 2012 REALTORS® Midyear Legislative Meetings & Trade Expo. http://realtormag.realtor.org/daily-news/2012/05/16/lender-uncertainty-restraining-housing-recovery 57C6475B-024E-4A0C-B13B-7A270B1A9676 Thu, 17 May 2012 07:31:08 -0700 Nationwide housing affordability hit a new record high for a second consecutive quarter in the first three months of this year, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=15306 08DF8AA7-4776-477C-97DE-28B72F2D7B7A Thu, 17 May 2012 07:30:14 -0700 Model homes in the first seven communities planned for the Shea Baker Ranch project might be toured by prospective buyers by the end of 2013. The grand opening of the first phase is projected for spring 2014. http://www.ocregister.com/news/city-354423-project-area.html C3954FF3-E530-4B58-8871-9B96904EAF05 Thu, 17 May 2012 07:26:12 -0700 DataQuick reports Southern California’s median sale price rose year-over-year in April for the first time in 16 months, reflecting stronger, affordability-driven demand and a slimmer inventory of homes for sale - especially low-cost foreclosures. http://www.dqnews.com/Articles/2012/News/California/Southern-CA/RRSCA120516.aspx D5405DDD-3B80-4306-8F0F-BF4B5EDE59AC Thu, 17 May 2012 07:22:54 -0700 DataQuick’s homebuying report for last month found the fastest April home-selling pace since 2006. http://lansner.ocregister.com/2012/05/16/o-c-s-april-home-sales-hit-6-year-high/162765/ 2469D74F-3D30-48B5-8103-FBEF3A7C07C7 Thu, 17 May 2012 07:21:26 -0700 April was a record month for cash buyers in San Diego County, the latest DataQuick numbers show. http://www.utsandiego.com/news/2012/may/16/diving-deeper-april-housing-market/ A849E029-313C-4131-9EB3-7A2AA341F6F4 Thu, 17 May 2012 07:19:19 -0700 C.A.R. reports California home sales and median price both jumped in April, with sales shooting up to their highest level in more than two years, and the median price rising above $300,000 for the first time in 16 months. http://www.car.org/newsstand/newsreleases/2012releases/aprilsales?view=Standard D85DCF32-0138-4170-A79F-D79AFEC41E90 Thu, 17 May 2012 07:17:10 -0700 k of America is offering some struggling homeowners payments of up to $30,000 if they sell their homes in a short sale and avoid ending up in foreclosure. http://money.cnn.com/2012/05/15/real_estate/short-sale/index.htm?iid=HP_River FF1E22B5-BE56-4A1B-98A5-4FC57321237F Thu, 17 May 2012 07:12:13 -0700 On the national level, inventory of for-sale single family homes, condominiums, townhouses and co-ops declined by -18.85% in April 2012 compared to a year ago. http://www.realtor.com/data-portal/Real-Estate-Statistics.aspx 29E22B54-FD21-4772-B5E6-0D7A0E02F798 Thu, 17 May 2012 07:07:01 -0700 U.S. housing starts rose more than expected in April, according to a government report on Wednesday that offered signs of a nascent housing recovery, even though permits for future building fell after touching a 3-1/2 year high the prior month. http://www.cnbc.com/id/47443259 D5BF8F31-37F5-4665-8B64-D79A09DBFB03 Wed, 16 May 2012 07:01:09 -0700 Housing affordability conditions for all buyers reached a milestone in the first quarter, according to the National Association of REALTORS®. http://realtormag.realtor.org/daily-news/2012/05/15/housing-affordability-reaches-records 76C05963-6993-488F-997D-0E1858726496 Wed, 16 May 2012 06:57:06 -0700 Builder confidence in the market for newly built, single-family homes gained five points in May from a downwardly revised reading in the previous month to reach a level of 29 on the National Association of Home Builders/Wells Fargo Housing Market Index, released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=15296 7AD6C093-60A9-4EED-8243-0FB076CC864F Wed, 16 May 2012 06:55:32 -0700 The Mortgage Bankers Association reports the Refinance Index increased 13.0 percent from the previous week. The seasonally adjusted Purchase Index decreased 2.4 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/80806.htm 094476F1-623C-443D-8358-47C95EE19EEE Wed, 16 May 2012 06:52:43 -0700 DataQuick reports South Coast 221 homes were bought in O.C.'s South Coast region in the last 22 business days,37% higher than a year ago. http://southcoasthomes.ocregister.com/2012/05/15/south-coast-home-sales-up-37-over-this-time-last-year/ CCD184F9-FD79-4855-A1FD-AE5ECB236286 Wed, 16 May 2012 06:48:25 -0700 C.A.R. reports housing affordability in California set a new record high in first quarter 2012 rising to 56 percent. http://www.car.org/newsstand/newsreleases/2012releases/q12012hai 6CDCB88D-96D7-4CC0-9874-02F9B604A089 Wed, 16 May 2012 06:44:47 -0700 The income and business of Realtors® is growing after many years of decline, according to the 2012 National Association of Realtors® Member Profile. http://www.realtor.org/news-releases/2012/05/2012-nar-member-survey-shows-rising-incomes 87AFE026-3191-493B-9D61-F63EB3D8C53B Tue, 15 May 2012 07:32:58 -0700 Builder confidence in the market for newly built, single-family homes gained five points in May from a downwardly revised reading in the previous month to reach a level of 29 on the National Association of Home Builders/Wells Fargo Housing Market Index, released today. This is the index’s strongest reading since May of 2007. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=15296 2A0A0540-5D65-4926-B7ED-0B0A06B9D254 Tue, 15 May 2012 07:31:13 -0700 Distressed properties for sale make up 22% of Orange County homes listed, which is a 5-year low. http://lansner.ocregister.com/2012/05/14/o-c-distressed-homes-for-sale-at-5-year-low/162640/ C64496AF-EB7D-490E-A12B-9AB6D5276536 Tue, 15 May 2012 07:24:41 -0700 Rents in [San Diego] county are up from a year ago and are expected to keep rising this year because of pent-up demand and lack of available units, studies and experts say. http://www.utsandiego.com/news/2012/may/15/what-rents-are-across-san-diego-county/ CDFA9674-109A-4FD2-B8F7-8CBF496F8BBC Tue, 15 May 2012 07:22:30 -0700 There were 6,200 more Riverside and San Bernardino people working in office-related jobs in March than there were 12 months earlier, but that doesn’t mean many of them are moving into the region’s vacant offices. http://www.pe.com/business/business-insider-headlines/20120511-real-estate-office-jobs-dont-dent-vacancies-much.ece 6A17155D-A2BF-49E6-A975-75D4B35E8FF8 Tue, 15 May 2012 07:20:28 -0700 It will take 46 months to clear the market’s supply of distressed homes, or the shadow inventory, according to estimates from Standard & Poor’s Rating Services based on first-quarter 2012 data. http://www.dsnews.com/articles/shadow-inventory-update-46-months-to-clear-supply-of-distressed-homes-2012-05-14 0A536095-910A-4EC9-AEAD-027D97DF751F Tue, 15 May 2012 07:17:23 -0700 "Below $500,000 range is NUTS. Homes priced at or near their market value are generating an avalanche of multiple offers." - Bill Thomas http://lansner.ocregister.com/2012/05/14/cheaper-o-c-homes-draw-multiple-offer-avalanche/162629/ C9F9B760-C239-4B41-8F04-76B6FBCA870E Tue, 15 May 2012 07:15:44 -0700 Although JPMorgan Chase suffered a trading loss of at least $2 billion due to a failed hedging strategy, it will not be life threatening to the bank, CEO Jamie Dimon said in an interview aired Sunday. http://www.cnbc.com/id/47394353 3DDE034D-AC0F-4F2C-A8FB-F1A006BCC303 Mon, 14 May 2012 07:38:34 -0700 Some of the hardest-hit markets during the housing crisis - plagued by soaring foreclosures and plummeting home prices - are expected to post some of the biggest gains through 2013, according to a report released this week by Fiserv. http://realtormag.realtor.org/daily-news/2012/05/11/double-digit-price-increases-coming-soon 43B8061D-3A47-475E-BA49-59119317F2CC Mon, 14 May 2012 07:35:30 -0700 As a home buyer or refinancer, you’d expect to submit recent pay stubs and bank-account statements when applying for a mortgage loan. But a copy of your divorce decree? http://www.marketwatch.com/story/mortgage-borrowers-face-litany-of-questions-2012-05-14 DB344303-BB80-4B50-8DE6-F6B171E8B609 Mon, 14 May 2012 07:31:13 -0700 Advantage Title, a title insurance and escrow firm headquartered in Newport Beach, recently launched its Title365 product, which allows real estate professionals and their clients to monitor progress of their escrow online. http://lansner.ocregister.com/2012/05/13/consumers-now-tracking-their-escrow-online/162606/ B886E5CF-F923-4653-B137-47471B906B1D Mon, 14 May 2012 07:29:56 -0700 Of Fannie’s 114,157 SF REO properties, almost half - 54,795 - were characterized as being "unable to market" for various reasons. http://www.calculatedriskblog.com/2012/05/lawler-fannie-sf-reo-inventory-total-vs.html 55BB5B7C-B03C-4847-B8EA-D8F8DE7CDA2F Mon, 14 May 2012 07:20:30 -0700 Gov. Jerry Brown made a personal appeal Thursday for California voters to support his tax-hike initiative, saying their support is crucial because the state's finances have been "screwed up" for a decade. http://finance.yahoo.com/news/calif-gov-submits-petitions-tax-141035735.html BF48C1FF-3A32-491E-9CA5-D261D8CB332D Fri, 11 May 2012 07:16:24 -0700 U.S. consumer sentiment rose to its highest level in more than four years in early May as Americans remained upbeat about the job market, a survey released on Friday showed. http://www.cnbc.com/id/47386200 4B16D9AE-2486-41A7-A2B9-B9283B1E4D28 Fri, 11 May 2012 07:15:27 -0700 LPS Home Price Index Shows U.S. Home Price Increase of 0.2 Percent in February; Early Data Suggests Further Increase of 0.3 Percent is Likely During March. http://www.lpsvcs.com/LPSCorporateInformation/NewsRoom/Pages/20120508.aspx 500B4A68-DB2C-46B4-932B-87CC25F79DB9 Fri, 11 May 2012 07:07:55 -0700 Builder confidence in the 55+ housing market for single-family homes had a significant increase in the first quarter of 2012 compared to the same period a year ago, according to the latest National Association of Home Builders’ 55+ Housing Market Index, http://www.nahb.org/news_details.aspx?sectionID=148&newsID=15288 0061A474-AAEE-42A8-BCF9-5BDC456DC200 Fri, 11 May 2012 07:06:04 -0700 Investors who lost $91.6 million betting on an apartment investment firm were outraged when its operators started a new venture along the same lines, but failed to mention that their prior company had gone bust. http://lansner.ocregister.com/2012/05/10/sec-charges-irvine-investment-firm-with-fraud/162474/ B1500679-C4EA-444A-B4C5-D8C982DBBDE9 Fri, 11 May 2012 07:03:31 -0700 If you're a struggling homeowner in California with a mortgage owned by either Fannie Mae or Freddie Mac, then you may have a shot at a home-loan reduction through a $2 billion state program. http://www.utsandiego.com/news/2012/may/10/fannie-freddie-were-willing-do-mortgage-reductions/ 91195FD3-7F2B-4A13-813E-261964F9FA09 Fri, 11 May 2012 07:00:33 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.83 percent with an average 0.7 point for the week ending May 10, 2012, down from last week when it averaged 3.84 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=128291 4704F7D5-0217-4916-8FFA-C8454FEB3019 Thu, 10 May 2012 07:55:33 -0700 The DOL reports in the week ending May 5, the advance figure for seasonally adjusted initial claims was 367,000, a decrease of 1,000 from the previous week's revised figure of 368,000. http://www.calculatedriskblog.com/2012/05/weekly-initial-unemployment-claims-at.html CB17B2AE-1FC6-4CB8-B0E8-FB6E72F1DD0E Thu, 10 May 2012 07:54:31 -0700 The Big Orange Property Owner index was up 0.05% vs. the previous three months. http://lansner.ocregister.com/2012/05/09/slump-ends-for-o-c-property-index/162421/ 4141F76A-F2C7-406B-ACAA-B84E67A7F531 Thu, 10 May 2012 07:51:15 -0700 The lodging experts at Colliers PKF report that Orange County hotels in March saw average room rates at $150.01 per night, up 3.8% in a year. http://lansner.ocregister.com/2012/05/09/local-hotel-room-rates-up-3-8/162350/ F896F3DA-2400-43C8-9CCF-E2586C37DC2A Thu, 10 May 2012 07:49:27 -0700 The Homeowner Bill of Rights would stop some of the worst abuses of the banking industry that are still happening every day by banning the practice of dual tracking, where a bank pursues a foreclosure while also in negotiations with a homeowner pursuing a modification. http://www.utsandiego.com/news/2012/may/09/guest-column-why-californians-need-homeowner-bill-/ D5255392-86DC-4CFD-B109-04ADC235AD67 Thu, 10 May 2012 07:47:26 -0700 Mortgage backer Fannie Mae reported the best quarterly results since before the housing meltdown, saying it did not need additional billions in tax funds for the quarter and that it believes losses on past mortgages peaked at the end of last year. http://money.cnn.com/2012/05/09/news/companies/fannie-mae-earnings/index.htm?iid=HP_LN F3D38E41-42C7-4690-9D84-4259F504A1BC Thu, 10 May 2012 07:44:04 -0700 Clogged mortgage pipelines have created headaches for hundreds of thousands of Americans trying to take advantage of low mortgage rates, which averaged 4.05% for the week ending April 27, according to the Mortgage Bankers Association. http://online.wsj.com/article/SB10001424052702303459004577364102737025584.html?mod=WSJ_RealEstate_LeftTopNews 0161E394-B7A2-41FB-B1BB-E5A9CBDFD5CE Wed, 9 May 2012 07:58:14 -0700 President Barack Obama is ramping up his election-year push to let more Americans refinance their home loans. http://blogs.wsj.com/developments/2012/05/08/will-obamas-refi-plan-be-on-congresss-to-do-list/ FF248117-4660-4F65-9BC5-DC24FA113BBA Wed, 9 May 2012 07:56:33 -0700 Why would the California Association of Realtors® (CAR) oppose a package of state legislative proposals that are designed to reform the foreclosure process? http://realtytimes.com/rtpages/20120509_reforms.htm E7FE57B7-9A91-41F1-9E3F-98F4B1C367BE Wed, 9 May 2012 07:53:16 -0700 The seasonally adjusted Purchase Index increased 3.4 percent from one week earlier, spurred by a 5.4 percent increase in the seasonally adjusted MBA Conventional Purchase Index. http://www.mortgagebankers.org/NewsandMedia/PressCenter/80763.htm EDC53132-938E-4AFB-9EAD-73DDE276A5AC Wed, 9 May 2012 07:47:41 -0700 There were 3.7 million job openings on the last business day of March, little changed from February but up significantly from a year earlier according to the U.S. Bureau of Labor Statistics. http://www.calculatedriskblog.com/2012/05/bls-job-openings-increased-in-march.html F4AB3FF9-C0B4-4F36-BD0E-EA1E83499A82 Wed, 9 May 2012 07:42:44 -0700 Fullerton police say two rental aid businesses set up shop on Imperial Highway, took money for rent deposits, then vanished. http://lansner.ocregister.com/2012/05/08/police-investigating-fullerton-rental-firms/161527/ 02E5D6A6-D218-4B82-9B3E-559E82F4397F Wed, 9 May 2012 07:39:52 -0700 A key change in a $2 billion state-run program to help hard-hit borrowers could make way for more principal reductions in California. http://www.utsandiego.com/news/2012/may/08/principal-reduction-program/ ED1F3210-3A85-47A0-A52E-7BEF640181AC Wed, 9 May 2012 07:38:24 -0700 Clarification was offered Monday on misconceptions regarding the REO-to-Rental Initiative, currently in pilot stages. http://www.dsnews.com/articles/fhfa-clears-air-as-it-way-for-reo-initiative-2012-05-07 C82F2C37-57E7-49C6-BF82-D711F5433B44 Wed, 9 May 2012 06:38:51 -0700 A select group of struggling mortgage borrowers are about to get an offer that sounds too good to be true. http://www.cnbc.com/id/47331680 529AD75D-5A50-4176-838D-4B907E1ABD63 Tue, 8 May 2012 07:19:22 -0700 CoreLogic reports that home prices, including distressed sales, increased by 0.6 percent in March 2012 compared to February 2012, the first month-over-month increase since July 2011. http://www.calculatedriskblog.com/2012/05/corelogic-house-price-index-increases.html 43B2FC63-260C-4C94-8043-E87D4CC05BCA Tue, 8 May 2012 07:14:31 -0700 "With respect to the Homeowners Bill of Rights, I think it is consumer protection run amok or at the very least least typical California unbalanced legislation." - Norm Miller, University of San Diego. http://www.utsandiego.com/news/2012/may/08/guest-column-why-homeowner-bill-rights-consumer-pr/ 428AC51C-4F16-4662-9027-2A9B431D30AB Tue, 8 May 2012 07:06:09 -0700 Since Freddie disposed of more REO than they acquired, Freddie's REO inventory fell slightly in Q1 2012 to 59,307. http://www.calculatedriskblog.com/2012/05/freddie-mac-lower-reo-expense-in-q1-due.html F662711C-C53B-42FE-B138-6E7EA90AA40A Tue, 8 May 2012 06:58:55 -0700 Small business owners were more optimistic in April, but compared to a year ago they haven’t really moved the needle forward on feeling more confident about the economy. http://www.cnbc.com/id/47327907 5D91660A-5D76-406C-9193-D2795C2BB346 Tue, 8 May 2012 06:54:04 -0700 U.S. consumer credit shot up during March at the fastest rate since late 2001 as credit-card use, and student and car loans ballooned, data from the Federal Reserve showed on Monday. http://www.cnbc.com/id/47326145 70C3ED89-3460-4DBB-A77A-307D8D0A9EDD Mon, 7 May 2012 22:40:49 -0700 The list of housing markets showing measurable and sustained improvement held virtually unchanged in May at 100, down from 101 in April, according to the National Association of Home Builders/First American Improving Markets Index. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=15275 69A40052-4C4E-441D-8EC7-3ED3DFE977FF Mon, 7 May 2012 22:38:40 -0700 Orange County springtime homebuying spree is a widespread trend with all four geographic slices of the county enjoying double-digit sales growth. http://lansner.ocregister.com/2012/05/07/homebuying-spree-hits-all-corners-of-o-c/162247/ 48561A43-DDF9-48D2-81DF-AA59232DAE4F Mon, 7 May 2012 22:36:13 -0700 Oil and gasoline prices have been falling recently. West Texas Intermediate (WTI) futures are down to $97.80, and Brent is down to $112.84 per barrel. http://www.calculatedriskblog.com/2012/05/update-gasoline-prices-down-15-cents.html A9709367-E020-48EE-93A7-6B2582E5F74E Mon, 7 May 2012 07:13:49 -0700 According to the latest McGraw-Hill construction SmartMarket Report the share of green homes on the market is expected to grow by leaps and bounds in the next four years. http://realtytimes.com/rtpages/20120507_realestateoutlook.htm 0E2C8441-9BE4-4458-B07C-1A4158C840C9 Mon, 7 May 2012 07:10:39 -0700 Many housing experts for months have been warning a foreclosure wave would soon flood several markets throughout the country. But was it all a false alarm? http://realtormag.realtor.org/daily-news/2012/05/04/what-foreclosure-wave-false-alarm 6CC6C39F-192A-4390-8187-9386C17DC826 Mon, 7 May 2012 07:08:39 -0700 While many buyers may be swayed by the home’s appearance, financing, and location when choosing a home, housing experts say they often overlook other important factors that may keep them happy for years to come with their home purchase. http://realtormag.realtor.org/daily-news/2012/05/04/what-buyers-often-overlook-in-home-purchases 3FB3555B-5437-4FFB-B8CA-4CB4DC6C6C13 Mon, 7 May 2012 07:03:55 -0700 The foreclosure mess has pushed millions of former homeowners with tarnished credit into a competitive apartment market across the U.S. http://www.calculatedriskblog.com/2012/05/rents-soar.html B30E438F-A513-4468-AB2C-6631AD897057 Mon, 7 May 2012 06:50:32 -0700 April's job report lived up to muted expectations, with the economy creating a meager 115,000 jobs during the month as the unemployment rate fell to 8.1 percent. http://www.cnbc.com/id/47292128 34567CF7-5889-4E36-BD58-C55509FC249E Fri, 4 May 2012 07:01:05 -0700 Home buyers who want a bargain may want to act now because the housing market is in the midst of a turnaround, economists say. http://realtormag.realtor.org/daily-news/2012/05/03/housing-cheap-itll-ever-get B4052AEA-58C3-4212-B623-19C97F30397E Fri, 4 May 2012 06:58:09 -0700 With signs of a housing turnaround getting stronger, housing experts say buyers are finding several recent changes when they go to put in an offer on a home. http://realtormag.realtor.org/daily-news/2012/05/03/5-new-rules-home-buying 5196194D-33D2-4C21-9935-D137D7CCE1E7 Fri, 4 May 2012 06:56:48 -0700 Although commercial real estate markets showed signs of recovery in 2011, commercial lending standards have tightened in the past year for small businesses and scuttled a major portion of contracted transactions for smaller properties, according to the National Association of Realtors® annual Commercial Real Estate 2012 Lending Survey. http://www.realtor.org/news-releases/2012/05/tight-lending-standards-hindering-commercial-real-estate-recovery DC8665E6-FBAA-43A7-9F1F-5997E600A5A0 Fri, 4 May 2012 06:55:23 -0700 Decent job growth numbers are good news for the Orange County housing industry, which is desperately seeking better economic fundamentals. http://lansner.ocregister.com/2012/05/03/analyst-local-hiring-spree-to-boost-housing/161500/ FCBC5E85-00D9-4F2B-BB13-B2A09F33EEC2 Fri, 4 May 2012 06:53:43 -0700 April was another tenuous month for small businesses, sending mixed signals about what the future holds. http://www.calculatedriskblog.com/2012/05/nfib-small-business-hiring-was-weak-in.html DC3DC182-90C9-43A9-8DA7-B10F0131ECA2 Fri, 4 May 2012 06:37:19 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.84 percent with an average 0.8 point for the week ending May 3, 2012, down from last week when it averaged 3.88 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=127954 83E91C69-6D5F-4BFF-AA16-31D6A32D76C7 Thu, 3 May 2012 08:36:39 -0700 Trulia.com reports asking prices on for-sale homes - which lead sales prices by approximately two or more months - were 0.5 percent higher in April than in March, seasonally adjusted. http://info.trulia.com/trulia-price-and-rent-monitor-april-2012 C69216BF-D910-4C24-B979-729B76BE9BDD Thu, 3 May 2012 08:35:10 -0700 Planned job cuts increased by 7.1 percent to 40,559 in April from March, the latest job cut report released by outplacement firm Challenger, Gray&Christmas showed on Thursday. http://www.cnbc.com/id/47259424 4EF1C603-0EAF-4AD1-8081-4050B2A42238 Thu, 3 May 2012 08:30:42 -0700 The April ISM Non-manufacturing index was at 53.5%, down from 56.0% in March. The employment index decreased in April to 54.2%, down from 56.7% in March http://www.calculatedriskblog.com/2012/05/ism-non-manufacturing-index-indicates.html 496B2E51-0237-4B1D-B3A0-235ADF953F0D Thu, 3 May 2012 08:24:53 -0700 The DOL reports in the week ending April 28, the advance figure for seasonally adjusted initial claims was 365,000, a decrease of 27,000 from the previous week's revised figure of 392,000. http://www.calculatedriskblog.com/2012/05/weekly-initial-unemployment-claims.html 1E59FC42-7A28-476C-A7AB-EC94C57ABB01 Thu, 3 May 2012 08:20:37 -0700 Two regional multiple listing services are suing NeighborCity.com, a real estate search site, alleging the Web site is violating copyright laws by using agents’ data without their permission. http://realtormag.realtor.org/daily-news/2012/05/02/2-mlss-sue-web-site-over-agent-performance-scores BAC08B49-A23B-4B49-BBA7-C9C78C6913B0 Thu, 3 May 2012 08:12:36 -0700 After a slowdown in corporate moves the past few years, more companies are planning to get their employees moving, according to a new survey. http://realtormag.realtor.org/daily-news/2012/05/02/survey-moves-for-job-relocations-rise 6C3DF5E7-ED92-40B2-99F1-9DC5C9EF5F4D Thu, 3 May 2012 08:10:55 -0700 Total dollars poured into homebuying rose slightly in Orange County during the first quarter of the year, generating the second-highest amount of revenue for home sellers and their agents since home prices melted down in 2008, figures from the California Regional Multiple Listing Service show. http://lansner.ocregister.com/2012/05/02/home-sales-dollars-up-58-million-in-2012/161415/ D3EF8F39-3DA5-401F-8BDB-CAD9367247D9 Thu, 3 May 2012 08:05:09 -0700 Companies in the U.S. added fewer workers last month, according to data from a private survey, pointing to a cooling in the job market, as the Commerce Department also reported a decline in factory orders in March. http://www.bloomberg.com/news/2012-05-02/adp-says-u-s-companies-added-119-000-workers-in-april.html 439B61B9-3772-4B4A-833B-2D372F9A03F9 Thu, 3 May 2012 07:59:28 -0700 The number of assaults against real estate professionals is on the rise, with the nature of attacks becoming more violent and sometimes deadly. http://realtormag.realtor.org/daily-news/2012/05/01/attacks-against-real-estate-professionals-surge FE328B94-B79D-40F7-A66D-DAD7A6431119 Wed, 2 May 2012 07:10:41 -0700 As housing inventories shrink, more buyers are reportedly finding their perfect home in properties that haven’t even been listed on the market yet. http://realtormag.realtor.org/daily-news/2012/05/01/more-buyers-eye-unlisted-homes-options FA45F855-8493-43FB-B91A-C9EDE6C4B65E Wed, 2 May 2012 07:09:35 -0700 The seasonally adjusted Purchase Index increased 2.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. http://www.mortgagebankers.org/NewsandMedia/PressCenter/80649.htm C9926791-F7C0-4FF8-82BB-1DBE985FBD22 Wed, 2 May 2012 07:04:46 -0700 Private-sector employment increased by just 119,000 in April, according a report from ADP that puts a dent into the notion that the jobs market is on the path to a solid recovery. http://www.cnbc.com/id/47260289 D0B05641-F44F-408A-8EF4-247A2CA4E1D1 Wed, 2 May 2012 07:04:12 -0700 The latest SP-Case-Shiller numbers, reported last week, show that prices in 20 major markets declined 3.5% over the year through February. They’re now back to 2002 levels. http://www.marketwatch.com/story/why-us-house-prices-wont-recover-2012-05-01-1225310 7EF7D079-6F15-4CC0-AFB6-F1BB18A954DF Wed, 2 May 2012 06:57:20 -0700 Newport Beach-based Surterre Properties says it recorded a company-record $376 million in residential real estate sales in the first quarter. http://newporthomes.ocregister.com/2012/04/30/broker-surterre-enjoys-record-sales/ 3065D8AD-4CDD-4FE8-A56F-B1442BCFAB9A Wed, 2 May 2012 06:56:06 -0700 The future of the DWP waterfront property near the northern end of this city's beach comes before the Planning Commission Wednesday night. http://www.ocregister.com/news/city-352093-council-project.html 7FBF73F5-0FA3-44EB-97CC-012D0A2CE52E Wed, 2 May 2012 06:54:38 -0700 Fannie Mae and Freddie Mac have issued new guidelines designed to speed up short sales and make them more consistent, but real estate agents question whether they are achievable in the real world. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/05/01/BUMQ1OBAE5.DTL 8C793C8C-3094-4F91-8BE6-F8888647019D Wed, 2 May 2012 06:49:31 -0700 The U.S. Census Bureau of the Department of Commerce announced today that construction spending during March 2012 was estimated at a seasonally adjusted annual rate of $808.1 billion, 0.1 percent (±1.4%) above the revised February estimate of $807.3 billion. http://www.calculatedriskblog.com/2012/05/construction-spending-increases.html 76FDAE2A-7C7F-4F3B-B41B-A924A3066F37 Wed, 2 May 2012 06:45:18 -0700 The pace of growth in the U.S. manufacturing sector unexpectedly picked up in April, while new orders gained, according to an industry report released on Tuesday. http://www.cnbc.com/id/47245323 A1B3D1C5-F025-44C3-85B5-5BE0FE0677B2 Tue, 1 May 2012 07:51:59 -0700 CoreLogic reports there were 198,000 completed foreclosures in the first quarter of 2012 compared to 232,000 through the first quarter of 2011. http://www.calculatedriskblog.com/2012/05/corelogic-69000-completed-foreclosures.html 668294F8-FA28-455B-A06D-5916EE23861B Tue, 1 May 2012 07:47:14 -0700 Bidding wars are increasingly being reported in markets across the country, from California to Florida, The Wall Street Journal reports. http://realtormag.realtor.org/daily-news/2012/04/30/bidding-wars-catch-buyers-guard 6980B68C-F738-4204-94FE-C4A198C5A7CD Tue, 1 May 2012 07:42:52 -0700 Since October, the distressed inventory has shed 2,164 homes, a 61% drop. http://lansner.ocregister.com/2012/04/30/distressed-o-c-homes-for-sale-drop-61/161353/ E5904088-CF54-40C2-8780-0A6684AA4C24 Tue, 1 May 2012 07:35:40 -0700 Two Chula Vista men were charged Monday in federal court in separate but similar loan modification schemes that targeted homeowners struggling to make mortgage payments and ripped them off. http://www.utsandiego.com/news/2012/apr/30/two-charged-loan-mod-scam/ BB06EFAF-3A45-4514-A42C-DBAC719918FF Tue, 1 May 2012 07:32:00 -0700 The U.S. homeownership rate fell to the lowest level in 15 years in the first quarter as borrowers lost homes to foreclosure and tighter inventory and credit kept buyers off the market. http://www.bloomberg.com/news/2012-04-30/homeownership-rate-in-u-s-falls-to-lowest-since-1997.html 6ECE5464-B0D3-4C53-8DF7-74AB47E14F9E Tue, 1 May 2012 07:29:31 -0700 Fannie Mae reported that the Single-Family Serious Delinquency rate declined in March to 3.67%, down from 3.82% in February. http://www.calculatedriskblog.com/2012/04/fannie-mae-and-freddie-mac-serious.html 0898C380-8F31-4AEE-8154-EFE8B12106A2 Tue, 1 May 2012 07:26:13 -0700 The BEA released the underlying details today for the Q1 Advance GDP report. As expected, key non-residential categories - offices, malls and lodging - saw further declines in investment in Q1. http://www.calculatedriskblog.com/2012/04/q1-2012-gdp-details-office-and-mall.html F02E74AB-C842-4614-A6C8-5944F0F87D3E Tue, 1 May 2012 07:24:02 -0700 The Commerce Department said on Monday consumer income rose 0.4 percent last month. Analysts had expected a gain of 0.3 percent. http://www.cnbc.com/id/47228857 75A7FD9B-873D-48D9-9930-5C63C169719F Mon, 30 Apr 2012 07:57:17 -0700 Business activity in the U.S. Midwest slowed more than expected in April, falling to its lowest since November 2009 as new orders slipped, a report showed on Monday. http://www.cnbc.com/id/47230769 9144F94D-0B98-4CB4-9097-1A2DF7E1316B Mon, 30 Apr 2012 07:56:02 -0700 Personal income increased $50.3 billion, or 0.4 percent ... in March, according to the Bureau of Economic Analysis. http://www.calculatedriskblog.com/2012/04/personal-income-increased-04-in-march.html 98ED4C01-704E-4C1D-8920-2B7A8697A320 Mon, 30 Apr 2012 07:55:01 -0700 Nearly six years after home prices started falling, more U.S. housing markets appear to be nearing a new phase: a prolonged bottom. http://online.wsj.com/article/SB10001424052702303592404577364020637303562.html F9379279-4D83-4FA3-90CC-954ADF113276 Mon, 30 Apr 2012 07:52:01 -0700 "In many areas - if the population is increasing - house prices increase slightly faster than inflation over time, so there is an upward slope for real prices." - Bill McBride, Calculated Risk http://www.calculatedriskblog.com/2012/04/upward-slope-of-real-house-prices.html CA20296A-E74C-4A2F-A2F7-22809DCB2B74 Mon, 30 Apr 2012 07:48:18 -0700 An improving housing market has made it a different picture in many areas compared to recent years, housing experts say. http://realtormag.realtor.org/daily-news/2012/04/27/3-housing-trends-emerging-spring EBF9E607-7553-4543-B1AD-85D57B8656D9 Mon, 30 Apr 2012 07:46:18 -0700 The problem is, a new rental cap in the building will likely prevent them from being eligible to rent out their place for years, given the number of owners already renting out units. http://www.marketwatch.com/story/condo-owners-face-rental-hurdles-2012-04-30 E1B44A1C-AA9D-4C7E-9467-9411D421E016 Mon, 30 Apr 2012 07:39:19 -0700 Soaring demand and tight inventory means - by one measure - Orange County homes take 4 fewer days to sell at the current buying pace in the past two weeks and 59 less days in a year. http://lansner.ocregister.com/2012/04/30/demand-for-o-c-homes-at-7-year-high/161351/ E6C6977E-C2AB-4C84-90E8-1FC5395DD510 Mon, 30 Apr 2012 07:36:56 -0700 Lambert Ranch off Portola Parkway in Irvine's northern foothills officially opened on Saturday. http://www.ocregister.com/articles/home-351408-lambert-new.html FD27EC02-9A74-4179-8A45-9C25B05688A3 Mon, 30 Apr 2012 07:34:05 -0700 The Mariner’s Center shopping center in the Mariners’ Mile district on Pacific Coast Highway at Riverside Drive in Newport Beach is for sale. http://newporthomes.ocregister.com/2012/04/27/newport-shopping-center-for-sale/ C2DCFB52-3556-494C-95CC-04540AA157C4 Mon, 30 Apr 2012 07:31:12 -0700 According to CoreLogic’s latest late-mortgage report, 5.47% of Orange County home-loan borrowers as of February are 90 days-plus late with their house payments. http://lansner.ocregister.com/2012/04/27/o-c-late-mortgages-cut-by-19/161274/ 49BB6586-76E8-4E9E-9288-E40F7C2A9FB9 Mon, 30 Apr 2012 07:30:05 -0700 THE boom in housing in the middle of the last decade created a huge oversupply of homes in the United States. But now that oversupply appears to be close to vanishing, at least in most parts of the country. http://www.nytimes.com/2012/04/28/business/economy/a-flicker-of-hope-appears-in-the-housing-market.html?_r=2&ref=realestate 3F59B388-3427-43C0-BD1D-245B76162497 Mon, 30 Apr 2012 07:22:39 -0700 U.S. consumer sentiment was little changed in April as Americans expected the economy to slowly improve, though they were less cheery about the state of their own finances, a survey released on Friday showed. http://www.cnbc.com/id/47204138 B1BCF0BD-661A-478A-8E2B-D0429BC0D1C1 Fri, 27 Apr 2012 08:02:44 -0700 Second mortgage purchase mortgage lending above 80% loan to value has begun to creep back into the market. http://www.calculatedriskblog.com/2012/04/private-money-coming-back-into-housing.html 78863818-3CC6-4071-99A2-0A47149F5174 Fri, 27 Apr 2012 06:58:33 -0700 U.S. economic growth cooled in the first quarter as businesses cut back on investment and restocked shelves at a moderate pace, but stronger demand for automobiles softened the blow. http://www.cnbc.com/id/47202822 96E1F6C7-D15F-4E1E-B1BC-321CF8F040B8 Fri, 27 Apr 2012 06:49:04 -0700 The Ryland Group, the 8th largest US home builder in 2010, reported that net home orders (including discontinued operations) in the quarter ended March 31st totaled 1,357, up 40.5% from the comparable quarter of 2011. http://www.calculatedriskblog.com/2012/04/lawler-builder-reports-exceed.html 343D867E-F242-4DCF-8338-B36B39FF0AF9 Thu, 26 Apr 2012 13:08:33 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.88 percent with an average 0.7 point for the week ending April 26, 2012, down from last week when it averaged 3.90 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=127436 BFD78FD1-D195-4510-A20A-C3CE753B5EF1 Thu, 26 Apr 2012 13:07:32 -0700 Pending home sales increased in March and are well above a year ago, another signal the housing market is recovering, according to the National Association of Realtors®. http://www.realtor.org/news-releases/2012/04/march-pending-home-sales-rise-market-recovering 25292FF6-87B5-4408-B3A2-A5D72DA8E323 Thu, 26 Apr 2012 13:05:55 -0700 Mirroring the uneven economic recovery, the housing market is expected to move in a slow, gradual upward path in 2012, while encountering its share of speed bumps along the road, according to economists participating in yesterday’s National Association of Home Builders construction forecast webinar on the housing and economic outlook. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=15257 5A5F6EF8-DE13-4B96-8758-39FDC6C97DDB Thu, 26 Apr 2012 13:05:01 -0700 The DOL reports in the week ending April 21, the advance figure for seasonally adjusted initial claims was 388,000, a decrease of 1,000 from the previous week's revised figure of 389,000. http://www.calculatedriskblog.com/2012/04/weekly-initial-unemployment-claims-at_26.html 4E769AC6-2035-40B6-BAE9-B3672FA9872A Thu, 26 Apr 2012 12:59:50 -0700 RealtyTrac reports 54 Percent of U.S. Metros Post Quarterly Increase in Foreclosure Activity in First Quarter of 2012. http://www.realtytrac.com/content/foreclosure-market-report/foreclosure-trends--metro-foreclosure-activity-in-q1-2012-7167 B44C6156-9942-4F44-AA0E-7AD903662406 Thu, 26 Apr 2012 12:57:56 -0700 The Federal Reserve, citing concerns about the pace of recovery, held its key interest rate near zero and indicated the economy would have to improve substantially for any changes in policy to take place. http://www.cnbc.com/id/47173762 460964DA-CA58-4815-800A-6457CA3959A1 Wed, 25 Apr 2012 11:00:57 -0700 The number of California homes entering the formal foreclosure process during the first quarter declined to its lowest level in almost five years, the result of a more stable economy and housing market, as well as policies that increasingly favor short sales, a real estate information service reported. http://www.dqnews.com/Articles/2012/News/California/CA-Foreclosures/RRFor120424.aspx 260EBB9A-B294-4222-826E-380BCA641685 Wed, 25 Apr 2012 08:04:47 -0700 As the number of for-sale homes listed on the multiple listing service (MLS) drops, the number of single-family homes up for rent has been gradually increasing, RISMedia reports. http://realtormag.realtor.org/daily-news/2012/04/24/more-single-family-homes-turned-rentals C37A58CE-FD06-4DB6-841C-3EC0342B9065 Wed, 25 Apr 2012 08:04:13 -0700 The Mortgage Banker's Association reports the seasonally adjusted Purchase Index increased 2.7 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/80552.htm 8364DF43-5BFE-43EA-9510-1BD2C9400FF9 Wed, 25 Apr 2012 08:00:42 -0700 Starting in mid-May, no one in California can begin or continue receiving this final round of federal benefits, known as "Fed-Ed" in California. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/04/24/BU5L1O7TNI.DTL 5F833939-E980-42AD-8318-EA8489BC9070 Wed, 25 Apr 2012 07:58:29 -0700 The number of San Diego County foreclosures in March stayed at its lowest point in more than four years, essentially mirroring the downward trend seen statewide, based on Tuesday's DataQuick foreclosure report. http://www.utsandiego.com/news/2012/apr/24/san-diego-foreclosures-still-4-year-low/ 963BB949-1E91-4BF2-B299-A8E050453C02 Wed, 25 Apr 2012 07:28:45 -0700 U.S. consumer confidence edged slightly lower in April, while Americans also reined in their inflation expectations after a surge in the previous month, according to a private sector report released on Tuesday. http://www.cnbc.com/id/47157252 BBF2871A-6ABA-444A-B7C3-DA32E7E97EF3 Tue, 24 Apr 2012 07:37:59 -0700 New U.S. single-family home sales dropped in March to their lowest level in four months, but the reading still beat analysts' expectations as the government said sales in prior months were higher than initially thought. http://www.cnbc.com/id/47157250 78FEF0B8-0A4A-4883-8C12-1EA8D85BA570 Tue, 24 Apr 2012 07:30:47 -0700 Home prices dropped in February in most major U.S. cities for a sixth straight month, a sign that modest sales gains haven't been enough to boost prices. http://www.cnbc.com/id/47156241 97854F6B-6773-4BBF-A161-8F343BFBEAAD Tue, 24 Apr 2012 07:28:49 -0700 NVR Inc, the fourth largest US home builder in 2010, reported last week that net home orders in the quarter ended March 31, 2012 totaled 3,157, up 31.4% from the comparable quarter of 2011. http://www.calculatedriskblog.com/2012/04/lawler-early-builder-reports-point-to.html 67A19070-38D2-46D1-81B7-E5C8CFD7FEAB Tue, 24 Apr 2012 07:27:34 -0700 It's been no secret that the today's struggling housing market is being further hampered by decreased access to financing, both for buyers and builders. http://realtytimes.com/rtpages/20120424_reform.htm 32A2BAB5-53BB-445C-AB97-5715680226D0 Tue, 24 Apr 2012 07:26:35 -0700 More real estate professionals have become concerned about the unauthorized use of their listing data, also known as "scraping." REALTOR.com recently announced several efforts to prevent the stealing and misuse of listing data at its site by other sites. http://realtormag.realtor.org/daily-news/2012/04/23/realtorcom-cracks-down-listing-scraping A1F65C70-5F3C-41CE-B55B-9AFE83ECED5F Tue, 24 Apr 2012 07:24:54 -0700 A real estate agent can’t get near the home she’s trying to sell in Antioch, Calif., because a group of squatters, who have overtaken the home, got a court-ordered temporary restraining order against her. http://realtormag.realtor.org/daily-news/2012/04/23/squatters-get-restraining-order-against-agent 5D6243DA-52D3-4E1E-8B8C-75C236B881CA Tue, 24 Apr 2012 07:23:59 -0700 Researchers have found hidden cost in the foreclosure crisis which has affected children, health and law enforcement. http://www.marketwatch.com/story/three-hidden-costs-of-the-foreclosure-crisis-2012-04-24 92006CC0-4F36-4CC8-BE12-C7591A7B404E Tue, 24 Apr 2012 07:12:30 -0700 Latest month’s rate of change for room rates of +5.2% compares to 4.2% for the year-to-date. http://lansner.ocregister.com/2012/04/23/o-c-hotels-raise-room-rates-5-2/161108/ 86D3DE6C-4EAA-41A2-A140-5242A136F514 Tue, 24 Apr 2012 07:10:17 -0700 D.R. Horton Inc.'s (DHI) fiscal second-quarter earnings rose 46% on double-digit increases in home-building revenue, closings and orders, helping results surge above estimates. http://online.wsj.com/article/BT-CO-20120423-711171.html 45C3A195-BF66-42FB-B4C5-7407C9C7F2F6 Mon, 23 Apr 2012 08:42:12 -0700 Housing affordability is still at a record high, according to the National Association of Realtors. It is at the highest level since record keeping began in 1970. http://realtytimes.com/rtpages/20120423_realestateoutlook.htm 0FECF56A-A423-47B6-AA0F-0613E4561C06 Mon, 23 Apr 2012 07:48:23 -0700 A Virginia real estate developer has pled guilty to conspiracy to commit wire fraud, making false statements, and conspiracy to commit bank fraud in connection with a complicated scheme in which an estimated $61 million was bled from a bank and state and federal governments, and which ultimately led to the failure of Virginia's Bank of the Commonwealth. http://www.mortgagenewsdaily.com/04232012_bank_fraud.asp D7E4A4D4-1270-4611-A1C9-CBF2764E0F87 Mon, 23 Apr 2012 07:34:35 -0700 Orange County homebuilding pioneer Randall E. Presley died April 12 at Hoag Hospital from complications arising from pneumonia, his family announced last week. He was 93. http://lansner.ocregister.com/2012/04/22/o-c-homebuilder-randall-presley-dead-at-93/161081/ CF2F013E-1BB4-4AFD-9C23-577F791669EA Mon, 23 Apr 2012 07:32:53 -0700 A year ago one out of 10 Realtors surveyed complained about low-ball offers on houses listed for sale. In the latest survey there were hardly any. http://www.washingtonpost.com/realestate/low-ball-bidders-in-many-markets-learn-they-can-no-longer-get-a-steal-on-a-house/2012/04/19/gIQALDMaUT_story.html 28AF0672-C0D5-4508-AE0D-CBAF2200B151 Mon, 23 Apr 2012 07:26:51 -0700 For computer users, a few mouse clicks could mean the difference between staying online and losing Internet connections this summer. http://www.cnbc.com/id/47122594 4DFAB109-3D59-447F-89AA-AAED77B81F8A Fri, 20 Apr 2012 17:35:22 -0700 The supply of homes for sale in the Phoenix area is down 42 percent from a year ago, and foreclosures are down 52 percent, according to Michael Orr, of the Real Estate Center at ASU. That is bringing demand back to the builders. http://www.cnbc.com/id/47103254 3B610AE0-DA5A-4640-BB67-8471A0888D1D Fri, 20 Apr 2012 17:34:34 -0700 Regional and state unemployment rates were little changed in March. Thirty states recorded unemployment rate decreases, 8 states posted rate increases, and 12 states and the District of Columbia had no change, the U.S. Bureau of Labor Statistics reported today. http://www.calculatedriskblog.com/2012/04/state-unemployment-rates-decline-in-30.html 42FF0402-522D-4DA0-97A7-B8757CCC1F18 Fri, 20 Apr 2012 17:30:27 -0700 California employers added 18,200 jobs in March, according to the Bureau of Labor Statistics, a sign that the state's gradual recovery continues. http://www.latimes.com/business/money/la-fi-mo-cal-jobs-march-20120419,0,7389477.story 858D39C0-8A70-4F0B-957B-7FA6CB773324 Fri, 20 Apr 2012 07:29:45 -0700 President Barack Obama's bid to dampen the influence of oil speculators by having regulators set trading margins could backfire, potentially making prices even more volatile and leaving crude dominated only by those with the deepest pockets. http://www.cnbc.com/id/47114893 E80252D6-BD22-4374-91BB-16C9BD4698FD Fri, 20 Apr 2012 07:27:57 -0700 The latest figures report that 4.4 million U.S. homes had three generations or more living in the same home in 2010, according to the Census Bureau. http://realtytimes.com/rtpages/20120420_oneroof.htm 76749965-C962-4080-AF81-10EF16648D4B Fri, 20 Apr 2012 07:24:57 -0700 Banks are agreeing to more short sales, and for the first time, short sale transactions are exceeding foreclosure deals, according to the most recent housing data from Lender Processing Services (LPS) Inc. http://realtormag.realtor.org/daily-news/2012/04/19/short-sales-start-outpace-foreclosures 2AC9D714-005D-4A07-82A7-8913F2AE5B7F Fri, 20 Apr 2012 07:24:00 -0700 As the number of people living in a household expands, builders are responding and tweaking home designs to meet the growing needs of multigenerational households. http://realtormag.realtor.org/daily-news/2012/04/19/more-builders-offer-home-within-home A5A2461B-58B3-4F7A-A4AE-2BE2472F3EB4 Fri, 20 Apr 2012 07:23:21 -0700 An estimated 37,481 new and resale houses and condos were sold statewide last month. That was up 26.5 percent from 29,630 in February, and up 2.9 percent from 36,417 for March 2011. http://www.dqnews.com/Articles/2012/News/California/RRCA120419.aspx 95E9FAA5-5FB4-4364-8A60-401D4CC54BB9 Fri, 20 Apr 2012 07:15:46 -0700 One measure of the financial health of householders is the level of financial obligations, like required mortgage and credit card payments, to disposable income. http://www.calculatedriskblog.com/2012/04/homeowner-financial-obligation-ratio.html ABD6C70B-AA6E-4A0E-8E0D-72B05B32AC39 Fri, 20 Apr 2012 07:14:10 -0700 Sales of existing homes continue to drop, and while tough credit and weak consumer confidence are certainly factors, lack of supply appears to be the latest culprit. http://www.cnbc.com/id/47098943 F7A358C5-C71B-4575-94B9-C2C694C24B12 Thu, 19 Apr 2012 07:53:29 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.90 percent with an average 0.8 point for the week ending April 19, 2012, up from last week when it averaged 3.88 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=127094 915F4902-215D-4CC8-807E-C3B2070C1D7B Thu, 19 Apr 2012 07:26:29 -0700 New U.S. claims for unemployment benefits fell less than expected last week, according to a government report on Thursday that could dampen hopes of a pick-up in job creation in April after March's slowdown. http://www.cnbc.com/id/47098817 DCA4252D-4E80-4C4D-8401-E754912B04A5 Thu, 19 Apr 2012 07:26:03 -0700 Existing-home sales were down in March but continue to outpace year-ago levels, while inventory tightened and home prices are showing further signs of stabilizing, according to the National Association of Realtors®. http://www.realtor.org/news-releases/2012/04/existing-home-sales-decline-in-march-but-inventory-down-prices-stabilizing 637FEC02-ABDD-4742-AC59-A4D027B21498 Thu, 19 Apr 2012 07:24:29 -0700 The National Association of Home Builders today called on Congress to simplify the tax code as part of a comprehensive tax reform effort in order to help small businesses to continue to serve as an engine of economic growth. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=15237 FA469278-8397-4893-BCFE-1D39AF75B27F Thu, 19 Apr 2012 07:23:09 -0700 ForeclosureRadar reported that 46% of all foreclosed homes went to the highest bidder in March rather than going back to the bank. http://lansner.ocregister.com/2012/04/18/investors-win-half-of-o-c-foreclosure-auctions/160997/ 7D9F4AAC-56E5-44E0-8DA7-D21516C9C3D5 Thu, 19 Apr 2012 07:20:49 -0700 Builder William Lyon Homes of Newport Beach says it’s had a quick business revival as it exited bankruptcy. http://lansner.ocregister.com/2012/04/18/o-c-builder-lyon-homes-orders-jump-89/160989/ DB9F8C90-0EF3-4122-AE3C-5DEC45F3FC89 Thu, 19 Apr 2012 07:19:12 -0700 Civil Code section 1360.5 states that an association may not completely ban "pets" from a CID. Since becoming law in 2001, it has led to some very interesting questions. http://www.ocregister.com/articles/law-349667-pet-association.html DD42CEA4-2A12-4144-8DF1-433DC7F57AE4 Thu, 19 Apr 2012 07:16:22 -0700 The Santa Ana City Council gave final approval to The Met at South Coast, a 271-unit apartment complex in the MacArthur Place area, after a lengthy discussion focusing on their hopes for high-rise development at the site. http://www.ocregister.com/news/rise-349633-high-council.html A7B1D50F-1D24-47AE-8713-8E020CE53603 Thu, 19 Apr 2012 07:12:44 -0700 The nationwide inventory of residential homes for-sale dropped 21 percent in March compared to a year ago, according to newly released housing data from Realtor.com, tracking 146 metro markets. http://realtormag.realtor.org/daily-news/2012/04/17/inventory-for-sale-homes-posts-big-drop 014C8140-4E80-46EA-9BB8-2CC6EF3E4360 Wed, 18 Apr 2012 06:53:45 -0700 Orange County’s spring house shopping season got off to a fine start with the best March for sales since 2007. http://lansner.ocregister.com/2012/04/17/strongest-march-for-o-c-homebuying-since-07/160933/ 3F36B205-7EA7-431D-AE71-853D3CA3A74C Wed, 18 Apr 2012 06:49:30 -0700 The number of U.S. home short sales surpassed foreclosure deals for the first time as banks became more agreeable to selling houses for less than the amount owed on their mortgages, according to Lender Processing Services Inc. http://www.bloomberg.com/news/2012-04-17/short-sales-surpass-foreclosures-as-banks-agree-to-deals.html E31BED54-8918-4B0A-A664-89B61D023870 Wed, 18 Apr 2012 06:43:52 -0700 Effective for new evaluations conducted on or after June 15, 2012, Servicers must comply with the following minimum communication time frames for all short sales. http://www.freddiemac.com/sell/guide/bulletins/pdf/bll1209.pdf BE9ED16D-1969-41E0-A53B-241DA181C09D Wed, 18 Apr 2012 06:41:33 -0700 Participants in our survey indicated that about 32 percent of this refinance volume was for HARP loans," said Jay Brinkmann, MBA's Chief Economist and SVP of Research and Education. "While purchase activity declined sharply for the week, this was mostly due to a 23 percent drop in applications for FHA purchase loans http://www.mortgagebankers.org/NewsandMedia/PressCenter/80482.htm 556BB7E7-12D9-4BF1-BE88-9375BB82BE1B Wed, 18 Apr 2012 06:37:47 -0700 Southern California home sales shot up last month from February amid the usual surge in late-winter shopping, but the gain over a year earlier was modest. http://www.dqnews.com/Articles/2012/News/California/Southern-CA/RRSCA120417.aspx 42B2143F-D664-422C-AACF-88EFC7D706F6 Wed, 18 Apr 2012 06:36:12 -0700 President Obama, under pressure from rising gasoline prices, unveiled a $52 billion program Tuesday to strengthen federal supervision of oil markets, increase penalties for market manipulation and empower regulators to increase the amount of money energy traders are required to put behind their transactions. http://www.cnbc.com/id/47074301 A21C3622-F737-4F48-857D-81B423C4E2F7 Tue, 17 Apr 2012 08:50:30 -0700 Groundbreaking on U.S. homes fell unexpectedly in March but permits for future construction rose to their highest level in 3 1/2 years, giving a mixed message for one of the economy's weaker sectors. http://www.cnbc.com/id/47072035 DC38F349-FE40-4570-B469-3CC6F6C3A8D1 Tue, 17 Apr 2012 08:40:57 -0700 A narrow definition of the impending Ability to Repay regulation could harm consumers and the housing market recovery, according to the National Association of Realtors®. http://www.realtor.org/news-releases/2012/04/realtors-call-for-broad-qualified-mortgage-definition-to-help-consumers-and-housing-market FD271B3B-449A-48E4-9A62-E49E71253926 Tue, 17 Apr 2012 08:34:40 -0700 Online housing tracker Zillow will hire up to 80 workers to staff a new Irvine office to open this summer. http://www.ocregister.com/articles/new-349482-zillow-hire.html# 58B730FF-011D-454B-8FAD-CA82D8D3EAA4 Tue, 17 Apr 2012 08:29:43 -0700 BGC Partners, Inc. today announced the closing of its acquisition of assets of Grubb & Ellis Company, following the recent approval of the transaction by the U.S. Bankruptcy Court for the Southern District of New York. http://www.newmarkkf.com/home/media-center/press-releases.aspx?d=4919&title=BGC_Forms_Newmark_Grubb_Knight_Frank_Upon_Completing_the_Acquisition_of_Assets_of_Grubb_&_Ellis_Company_ A358006F-F045-4D63-9957-9A7CE9738BCB Tue, 17 Apr 2012 08:27:12 -0700 [In Orange County] The distressed inventory has dropped 49% so far this year. http://lansner.ocregister.com/2012/04/16/supply-of-distressed-home-listings-cut-in-half/160810/ AC5ACCEA-BCF1-430C-AFBC-0347BB328716 Tue, 17 Apr 2012 08:24:39 -0700 Compared to this time last year, there are 42% fewer homes on the market. http://lansner.ocregister.com/2012/04/16/sellers-flee-as-42-fewer-o-c-homes-for-sale/160807/ F3EABBF9-99CE-4C9A-950B-304320580279 Tue, 17 Apr 2012 08:22:10 -0700 C.A.R. reports California home sales declined in March from February’s pace, while the median home price snapped a 16-month annual price decline and posted its first year-over-year gain. http://www.car.org/newsstand/news/march2012sales?view=Standard 2B6EE553-423C-485C-9289-2770214395B9 Tue, 17 Apr 2012 08:18:49 -0700 A new statistical analysis, based on a large sample of all mortgage applications approved and denied in recent months, offers valuable benchmarks for anyone thinking about financing a home purchase or refinancing an existing loan. http://www.latimes.com/business/realestate/la-fi-harney-20120415,0,7325165.story 7ECEC2C7-754B-4C61-B23D-58B45A6A6EA1 Tue, 17 Apr 2012 08:15:50 -0700 Eleven state attorneys general sent a letter to Edward DeMarco, Acting Director of the FHFA, urging him to allow Fannie Mae and Freddie Mac to move forward with principal reductions. http://www.dsnews.com/articles/eleven-ags-send-letter-urging-demarco-to-reverse-course-2012-04-13 0B7EA551-7375-4474-B7F9-7D6760F3A454 Tue, 17 Apr 2012 08:14:51 -0700 Builder confidence in the market for newly built, single-family homes declined for the first time in seven months this April, sliding three notches to 25 on the National Association of Home Builders/Wells Fargo Housing Market Index, released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=15221 47B44ACE-D37C-4383-A548-2376FAFC8DF6 Mon, 16 Apr 2012 07:17:39 -0700 Five years after the U.S. housing bust sent sales and prices plunging, the spring home-buying season is pointing to a long-awaited recovery. http://www.cnbc.com/id/47054070 9BE2F5AE-0F62-4C71-A1B8-D102A0043321 Mon, 16 Apr 2012 07:16:58 -0700 The Obama administration expects to recoup all the bailout money spent on banking and insurance firms, auto companies, mortgage finance companies and struggling homeowners during and after the 2008 financial crisis -- and likely turn a profit. http://www.latimes.com/business/money/la-fi-mo-bailout-profit-20120413,0,1024509.story?track=rss D0AF2902-6C6B-4EF2-8DC5-84E2A3596FBC Mon, 16 Apr 2012 07:09:55 -0700 The settlement, agreed to by the nation's five largest mortgage lenders, is expected to speed up the foreclosure process by providing stricter guidelines for the banks to follow when repossessing homes. http://money.cnn.com/2012/04/13/real_estate/foreclosures/index.htm?iid=Lead B22E8CBA-4402-481A-A0F3-D82E4C110B36 Mon, 16 Apr 2012 07:06:35 -0700 Economist Tom Lawler wrote today: "Incoming data point to a YOY increase in the NAR’s Median Existing Home Sales Price of about 3% in March." http://www.calculatedriskblog.com/2012/04/lawler-expect-nar-to-report-3-year-over.html BD43C2B8-9757-4403-AF50-92565A3337F7 Mon, 16 Apr 2012 07:00:16 -0700 U.S. consumer sentiment slipped modestly in early April as higher gasoline prices hit household budgets, but optimism over the economic outlook lifted consumers' expectations, a survey released on Friday showed. http://www.cnbc.com/id/47040467 8B697174-70A7-443B-895C-616830BDAF6D Fri, 13 Apr 2012 08:19:22 -0700 A man was sentenced to 75 years in prison after pleading guilty to sexually assaulting a real estate agent last spring while he posed as a buyer as the agent showed him a home. http://realtormag.realtor.org/daily-news/2012/04/12/man-gets-75-years-in-prison-for-agent-assault FEE9C5A4-981B-4FB4-BE5D-32D8ED2F4ABE Fri, 13 Apr 2012 08:18:31 -0700 USC’s 2012 Casden Multifamily Forecast predicts two more golden years of apartment Southern California rent growth. http://www.calculatedriskblog.com/2012/04/analyst-rising-rents-could-tip-cost-of.html 9540F394-CDB4-4107-AEC4-635385B00DD3 Fri, 13 Apr 2012 08:07:17 -0700 The latest Casden Forecast from USC’s Lusk Center for Real Estate suggests that landlords will have the upper hand in the pricing game for the next two years. http://lansner.ocregister.com/2012/04/12/forecast-o-c-rents-to-rise-5-by-13/160747/ 9BE40E5C-3929-406D-A62A-0B31E2A7E40B Fri, 13 Apr 2012 08:06:10 -0700 A federal-state program aimed at helping homeowners in states hardest hit by the mortgage crisis is falling far short of its goals, a federal watchdog said in a report released Thursday. http://money.cnn.com/2012/04/12/news/economy/tarp_housing_program/index.htm?iid=HP_River 11FEE955-189B-439A-87F8-1AAB4E7F0AA9 Fri, 13 Apr 2012 08:03:35 -0700 The recent U.S. labor market disappointment shows it is too early to conclude the economy is out of the woods, New York Federal Reserve Bank President William Dudley said. http://www.cnbc.com/id/47027197 632A012B-2963-406F-9BF2-F51D1911E266 Thu, 12 Apr 2012 08:03:16 -0700 The DOL reports in the week ending April 7, the advance figure for seasonally adjusted initial claims was 380,000, an increase of 13,000 from the previous week's revised figure of 367,000. http://www.calculatedriskblog.com/2012/04/weekly-initial-unemployment-claims_12.html A3C30156-DCDD-44A1-B0B8-4B929641D8F4 Thu, 12 Apr 2012 08:00:36 -0700 Freddie Mac today released the results of its Primary Mortgage Market Survey®, showing... the 15-year fixed averaged a new all-time record low of 3.11 percent breaking its previous low of 3.13 percent on March 8, 2012. http://freddiemac.mediaroom.com/index.php?s=12329&item=126832 518D3B04-B2CB-413F-8A58-04FF379811A8 Thu, 12 Apr 2012 07:56:53 -0700 Bank of America announced it is refining its short sale process to streamline its approval process and reduce the wait in accepting offers and making it to closing. http://realtormag.realtor.org/daily-news/2012/04/11/bofa-announces-shortened-short-sale-process A95619EB-BA1B-4A9D-9F85-A5B253E90E85 Thu, 12 Apr 2012 07:55:27 -0700 With the April 17 tax deadline one week away, many individuals and families still have time to take advantage of the valuable tax benefits homeownership affords. http://www.realtor.org/press_room/news_releases/2012/04/tax_time 34FC223E-FCA8-4F24-8302-0E105623EB6C Thu, 12 Apr 2012 07:53:06 -0700 According to DataQuick, all four regions in Orange County had year-over-year sales gains for the 22 business day period ending March 22. http://lansner.ocregister.com/2012/04/11/homebuying-grows-in-all-corners-of-o-c/160677/ 8F4DA51C-1AFE-4687-90FB-A46BDE71000D Thu, 12 Apr 2012 07:49:44 -0700 Reports from the twelve Federal Reserve Districts indicated that the economy continued to expand at a modest to moderate pace from mid-February through late March. http://www.calculatedriskblog.com/2012/04/feds-beige-book-economic-activity.html 5FE31081-1BE2-40E0-9D65-1827331809A9 Thu, 12 Apr 2012 07:44:36 -0700 Foreclosure activity in the first quarter in the U.S. fell to its lowest level in more than four years despite predictions that a new wave of distressed homes would flood the market this year. http://www.latimes.com/business/money/la-fi-mo-foreclosure-wave-20120411,0,3279205.story?track=rss 8C2610B9-D007-4537-90A0-1B0D3C77578C Thu, 12 Apr 2012 07:42:09 -0700 More U.S. homes are entering the foreclosure process, setting the stage for a surge in properties repossessed by lenders this year. http://www.cnbc.com/id/47028071 C28D1E78-9F9E-4EB0-8832-55B6EA109A47 Thu, 12 Apr 2012 07:41:11 -0700 A new report predicts the market for foreclosed homes that are turned into rentals will be worth more than $100 billion this year. http://www.latimes.com/business/money/la-fi-mo-foreclosed-homes-as-rentals-worth-100-billion-20120411,0,890328.story?track=rss FA2828C4-64C0-4E10-8569-2CA1F5A309BD Thu, 12 Apr 2012 07:14:16 -0700 With home affordability at the highest rate seen in decades, now is prime time to make a purchase. http://realtytimes.com/rtpages/20120411_saving.htm 38F8D03A-9072-4B4F-A6B7-E74C3FEE0BC0 Wed, 11 Apr 2012 07:44:45 -0700 The MBA reports the Refinance Index decreased 3.1 percent from the previous week. The seasonally adjusted Purchase Index decreased 0.5 percent from one week earlier. http://www.calculatedriskblog.com/2012/04/mba-mortgage-applications-decrease.html 204D2F05-10ED-4025-A60F-86431C36E703 Wed, 11 Apr 2012 07:41:31 -0700 Encouraging reports on the housing market are stirring up optimism about this year’s home buying and selling season. http://www.marketwatch.com/story/a-slowly-healing-housing-market-2012-04-11 A8ADA1D1-B5A1-47D9-8DDE-9219384F4E31 Wed, 11 Apr 2012 00:33:37 -0700 The concern is that borrowers who are current on their loans might think it’s unfair that those who are not current are being rewarded and they are not. http://www.cnbc.com/id/47006392 6E0E7D92-DA9E-4C9A-8923-D67787C59C21 Wed, 11 Apr 2012 00:30:52 -0700 The federal government plans to propose new rules on Tuesday that will give homeowners more ways to avoid foreclosure and get an accurate accounting of their monthly mortgage payments. http://www.cnbc.com/id/47003956 1819DBAE-661E-4585-9223-B2AE6A28FCD8 Wed, 11 Apr 2012 00:30:06 -0700 The BLS reports the number of job openings in February was 3.5 million, little changed from January. http://www.calculatedriskblog.com/2012/04/bls-job-openings-increased-slightly-in.html 6FA9B189-FC52-4AE4-B5FF-97546862B07A Wed, 11 Apr 2012 00:27:03 -0700 A nonprofit group has filed a bias complaint against Wells Fargo accusing the lender of poorly maintaining the foreclosed homes it owns in what the nonprofit calls Latino and black neighborhoods compared with those it owns in white areas. http://www.latimes.com/business/money/la-fi-mo-wells-fargo-foreclosures-20120410,0,5023334.story?track=rss ABBEE719-2EAE-418B-A47F-26ACD95C7887 Wed, 11 Apr 2012 00:23:24 -0700 A California lawmaker believes the state can combat a lack of affordable housing by passing a bill that would set funds aside for the financing and development of affordable housing. http://housingwire.com/news/proposed-california-bill-imposes-real-estate-fee-affordable-housing-fund 8412D2B4-310D-403E-89C4-40B2B9EB7AFD Wed, 11 Apr 2012 00:20:03 -0700 Rep. Paul Ryan defended his decision to release a controversial pre-election budget proposal, asserting that the move demonstrates the political leadership missing from the Obama administration. http://www.cnbc.com/id/47002516 D2F7F1EA-F883-4691-AA29-B0D130FA052A Tue, 10 Apr 2012 07:40:10 -0700 In an election-year pitch to middle-class voters, President Barack Obama is denouncing a House Republican budget plan as a "Trojan horse," warning that it represents "an attempt to impose a radical vision on our country" that would hurt working families. http://finance.yahoo.com/news/obama-denounces-radical-republican-budget-100149558.html 54D6A69C-CE4C-4BCC-8176-3DE83874782C Tue, 10 Apr 2012 07:38:56 -0700 Federal Reserve Chairman Ben Bernanke said on Monday banks need to have more capital at hand in order to ensure the financial system is stable. http://www.cnbc.com/id/46998949 8D4B7761-FD31-425E-8330-C63EDEDCA6CA Tue, 10 Apr 2012 07:38:25 -0700 A federal judge granted final approval to a landmark $26 billion settlement over foreclosure processing errors, clearing the way for the nation’s five largest lenders to begin unraveling aid to home owners. http://realtormag.realtor.org/daily-news/2012/04/09/judge-oks-26b-foreclosure-settlement B7D28DCD-F0F9-4049-AE72-F0BCDEEFCCEB Tue, 10 Apr 2012 07:35:03 -0700 Edward DeMarco, acting director of the Federal Housing Finance Agency, is catching heat from California congressional members over a pilot plan to sell 600-plus foreclosed homes in Riverside and Los Angeles counties to investors on condition they will convert them to rentals. http://www.utsandiego.com/news/2012/apr/10/more-push-back-demarco/ BB8466D6-AD5A-498D-BC17-79B1954E7FEE Tue, 10 Apr 2012 07:10:03 -0700 The Obama administration’s housing scorecard for March offers more optimism for the housing market, noting stability taking hold in the health of the nation’s real estate market. http://realtormag.realtor.org/daily-news/2012/04/09/obama-housing-scorecard-shows-growing-optimism 391F6228-F5AB-42D6-A5D2-20476AFAF0F3 Mon, 9 Apr 2012 17:06:50 -0700 MBIA hid its financial condition from the New York state insurance department in 2009 when it sought approval to restructure the company, according to Bank of America and two other banks challenging that restructuring. http://www.cnbc.com/id/46996049 D1E88874-8B1D-4541-822E-1D5F314B83C2 Mon, 9 Apr 2012 16:55:41 -0700 Lenders can't deny mortgage loans to women solely because they are pregnant or on temporary maternity leave, federal regulators said in announcing settlements with two lenders who were accused of doing so. http://www.inman.com/news/2012/04/9/lenders-settle-discrimination-claims-new-expectant-moms 5C811FBF-45A4-48EE-A25D-478F8E857A05 Mon, 9 Apr 2012 16:50:47 -0700 So much natural gas is being produced that soon there may be nowhere left to put the country's swelling surplus. http://www.cnbc.com/id/46991964 052E9F47-4D22-4D40-BB93-37DA44C8A301 Mon, 9 Apr 2012 08:33:45 -0700 Monthly payments on a house are now cheaper than monthly rents on a similar house in most of North San Diego and Southwest Riverside counties, according to an analysis of county-supplied and Realtor data by the North County Times. http://www.nctimes.com/blogsnew/business/realside/housing-this-is-crazy-home-ownership-cheaper-than-renting/article_51f6ebaa-fe2a-518c-a3a8-2ee33d711391.html BF4D0960-5037-480F-9DD9-80D9108FACB5 Mon, 9 Apr 2012 08:29:39 -0700 According to the National Association of Realtors' 2012 Investment and Vacation Home Buyers Survey, there was a surge in sales of both investment in vacation homes in 2011. http://realtytimes.com/rtpages/20120409_realestateoutlook.htm 7740CCB3-E926-4E77-8DCA-01C3F95FBDA9 Mon, 9 Apr 2012 08:27:48 -0700 The upfront insurance premium charged on FHA-insured mortgages for home purchases will increase from 1 percent to 1.75 percent on April 9, and the annual FHA mortgage insurance premiums will rise by one-tenth of a percentage point. http://realtormag.realtor.org/daily-news/2012/04/06/fha-fees-increase-monday 3673EA92-5EE0-4FBA-BFC0-4C01FDEB22A4 Mon, 9 Apr 2012 08:26:43 -0700 In the new-home sector, nearly four out of every 10 sales last year were for cash. http://www.marketwatch.com/story/more-new-home-buyers-paying-cash-2012-04-06 AD463E1D-D076-482C-994C-57CBA7775D29 Mon, 9 Apr 2012 08:23:49 -0700 Venture capitalists and the entrepreneurs benefiting form their capital flows have a pretty high confidence level in the future of California. http://www.ocregister.com/articles/california-348117-new-venture.html 188715AA-E55D-4AD8-97E3-617ED9DE5842 Mon, 9 Apr 2012 08:21:43 -0700 Spring home sales continue ahead of last year’s pace, with condos leading the way with a 12.5 percent faster selling pace that 2011. http://lansner.ocregister.com/2012/04/07/o-c-condos-are-a-hot-seller/160594/ F5960455-14B3-4F84-8B5C-B59AFFB38003 Mon, 9 Apr 2012 08:18:49 -0700 The Federal Reserve has released a policy statement that could encourage the practice of converting lender-owned repossessed homes into rental properties. http://www.latimes.com/business/money/la-fi-mo-fed-foreclosures-20120406,0,1480992.story?track=rss 89BD8D55-A662-48B6-B968-7D1A38761B9F Mon, 9 Apr 2012 08:06:31 -0700 Mortgage lenders aren't rolling out the red carpet on home loans just yet, but with fewer delinquencies and defaults, there's optimism looser credit for home loans has become a topic of board room chatter. http://realtytimes.com/rtpages/20120406_mtgperformance.htm 33DDF8B9-C248-4B24-B296-E8422DA655A7 Fri, 6 Apr 2012 07:42:45 -0700 A Federal Reserve statement issued yesterday reminds federally regulated banks that they are permitted to rent properties in their owned real estate (OREO) portfolios as a temporary substitute for selling them. http://www.mortgagenewsdaily.com/04062012_bank_owned_real_estate.asp 416C676C-021E-4179-AD77-D1C6897A3CC7 Fri, 6 Apr 2012 07:38:53 -0700 U.S. payrolls rose far less than expected in March, keeping the door open for further monetary policy support from the Federal Reserve, even as the unemployment rate fell to a three-year low of 8.2 percent. http://www.cnbc.com/id/46975031 3F461ED3-1263-4149-B1AD-0E1CF6933C4A Fri, 6 Apr 2012 07:28:16 -0700 The new technology, called the Trulia Price Monitor and the Trulia Rent Monitor, aims to take a stab at providing what Trulia calls "leading indicators" on home and rental price trends across the U.S. http://business-news.thestreet.com/signonsandiego/story/trulia-reveals-crystal-ball-home-price-predictor/11485977 D1507300-EC5E-4038-9F29-8E65B055D70D Thu, 5 Apr 2012 23:33:51 -0700 Companies were expected to have hired slightly fewer workers in March than in February, but economists say the employment picture continues to improve. http://www.cnbc.com/id/46972160 91AF6264-909A-43D8-87C1-9A2DF869CC63 Thu, 5 Apr 2012 23:31:44 -0700 According to the deptofnumbers.com for (54 metro areas), inventory is off 20.4% compared to the same week last year. http://www.calculatedriskblog.com/2012/04/existing-home-inventory-declines-20.html 1F96439D-06A7-4A15-9325-B2421FD93520 Thu, 5 Apr 2012 23:29:45 -0700 President Barack Obama has signed legislation that will help small businesses and make it easier for startups to raise capital. http://finance.yahoo.com/news/obama-signs-small-business-legislation-185448772.html E35B793F-D9BA-4B5C-AD6C-DF1A71675B40 Thu, 5 Apr 2012 12:07:55 -0700 Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures. http://www.cnbc.com/id/46965027 5A237AA5-2611-47AF-A020-3446119A2290 Thu, 5 Apr 2012 12:06:52 -0700 How the real estate market will fare in the spring home-selling season will prove a test for housing demand and show which markets will lead a housing recovery, economists say in a recent article at USA Today. The spring selling season usually runs March through June. http://realtormag.realtor.org/daily-news/2012/04/04/spring-true-test-real-estate-recovery 7D202A80-A51B-4E3B-BBB2-BF246DC41209 Thu, 5 Apr 2012 07:43:36 -0700 The number of planned layoffs at U.S. firms fell in March to the lowest level in 10 months as the government sector cut fewer jobs, while call center employees were let go by companies looking to reduce costs, a report on Thursday showed. http://www.cnbc.com/id/46962053 1D826FDB-7F06-4F10-B961-4EDC73C67277 Thu, 5 Apr 2012 07:41:07 -0700 30-year fixed-rate mortgage averaged 3.98 percent with an average 0.7 point for the week ending April 5, 2012, down from last week when it averaged 3.99 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=126551 2964D44C-30FB-4EED-A594-BE35B81D2D4E Thu, 5 Apr 2012 07:39:58 -0700 Timely repayments improved on all 11 of the consumer loan categories tracked by the American Bankers Association in the final quarter of last year, the first time that has happened since 2004, according to the organization's chief economist. http://www.cnbc.com/id/46961460 79B8E205-0C4B-47E1-AB96-C9DB3E5A5E56 Thu, 5 Apr 2012 07:39:13 -0700 The DOL reports in the week ending March 31, the advance figure for seasonally adjusted initial claims was 357,000, a decrease of 6,000 from the previous week's revised figure of 363,000 http://www.calculatedriskblog.com/2012/04/weekly-initial-unemployment-claims.html A714CF47-8CED-43EB-8FA1-6E940179BA5A Thu, 5 Apr 2012 07:35:15 -0700 The Federal Housing Administration is giving borrowers a chance to provide an explanation on any disputed collection accounts in their history in order to qualify for an FHA-backed mortgage. http://realtormag.realtor.org/daily-news/2012/04/04/fha-clarifies-new-credit-dispute-rule D4647D21-9D22-40F6-A692-7F1A820ABD25 Thu, 5 Apr 2012 07:33:12 -0700 Beginning April 1, the FHA began tossing home loan purchase applications in the circular file if the applicant had an ongoing credit dispute or collections action of $1,000 or more on his or her credit report. http://realtytimes.com/rtpages/20120405_fha.htm B7E92D55-914A-4EB1-A33B-B13E8F1AF341 Thu, 5 Apr 2012 07:30:45 -0700 The list of housing markets showing measurable improvement expanded slightly to include 101 metropolitan areas in April, according to the National Association of Home Builders/First American Improving Markets Index, released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=15183 FF0034AB-C8A1-4B6B-8430-33E30C5858C4 Thu, 5 Apr 2012 07:28:48 -0700 Orange County is officially seeking a developer to help it plan and develop its 100-plus-acre slice of the former El Toro Marine airbase. http://lansner.ocregister.com/2012/04/04/county-seeks-developer-for-el-toro-land/160478/ AE4915FE-2B3A-437E-9C41-41AE4DBC8443 Thu, 5 Apr 2012 07:26:29 -0700 Seller financing isn't new. Contracts for deeds were popular in the 1980s when interest rates were in the double digits. http://www.mercurynews.com/real-estate/ci_20318606/seller-financed-home-contracts-skyrocket-but-so-do 9728F41D-420F-4221-B5F3-2C61730E5153 Thu, 5 Apr 2012 07:20:04 -0700 National vacancies fell by 30 basis points in the first quarter to 4.9%, a level last observed more than ten years ago, back in 4Q2001. http://www.calculatedriskblog.com/2012/04/more-apartment-vacancy-rate-falls-to-49.html A280A875-D752-43B6-934A-6E995EAF7871 Thu, 5 Apr 2012 07:18:11 -0700 Climbing rents for apartments are combining with a continued decline in home prices to push once-reluctant home buyers into finally taking the plunge, say economists and real-estate agents, helping what appears to be a good start to the housing industry's all-important spring selling season. http://online.wsj.com/article/SB10001424052702304750404577322011443831768.html?mod=WSJ_RealEstate_LeftTopNews 1C53B7DD-565E-4ADC-8695-E7CF0C5BA723 Thu, 5 Apr 2012 07:17:20 -0700 U.S. Treasury Secretary Timothy Geithner said on Wednesday that Americans can't let fear of future deficits stymie necessary government investment in projects needed to spur growth. http://www.cnbc.com/id/46950482 D59C4A10-0E53-4FAD-83AA-4670E6853706 Wed, 4 Apr 2012 07:36:53 -0700 Following a stinging criticism of his federal budget proposal by President Obama, Republican Congressman Paul Ryan lashed back on Tuesday. http://www.cnbc.com/id/46945677 4224B9A5-393F-46F7-A67A-BC0798600747 Wed, 4 Apr 2012 07:35:59 -0700 Economic activity in the non-manufacturing sector grew in March for the 27th consecutive month, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business®. http://www.calculatedriskblog.com/2012/04/ism-non-manufacturing-index-indicates.html DE33D7F0-EA35-417C-9BD4-E393D0309D16 Wed, 4 Apr 2012 07:33:22 -0700 CoreLogic reports House Price Index falls to new post-bubble low in February, Rate of decline slows. http://www.calculatedriskblog.com/2012/04/corelogic-house-price-index-falls-to.html 773638C9-88A2-45ED-863A-9DF7ADA1153E Wed, 4 Apr 2012 07:29:21 -0700 Employment in the U.S. nonfarm private business sector increased by 209,000 from February to March on a seasonally adjusted basis. http://www.calculatedriskblog.com/2012/04/adp-private-employment-increased-209000.html 5EBFE5F7-DCE3-4E9F-9D88-489366ADC0B3 Wed, 4 Apr 2012 07:26:37 -0700 Applications for U.S. home mortgages gained last week after seven straight weeks of declines, helped by a jump in purchase demand as interest rates retreated, an industry group said on Wednesday. http://www.cnbc.com/id/46949312 82376062-2240-43AE-AB44-49EA1C492616 Wed, 4 Apr 2012 07:24:33 -0700 The U.S. apartment vacancy rate in the first quarter fell to its lowest level in more than a decade, and rents posted their biggest jump in four years. http://www.reuters.com/article/2012/04/04/usapartmentmarket-idUSL2E8F401820120404 EDCC5092-D701-446B-9591-D1DC019811F4 Wed, 4 Apr 2012 07:23:26 -0700 Even if George Zimmerman is never charged with or convicted of Trayvon Martin's death in a criminal trial, Zimmerman's homeowners association could be open to a Martin family civil suit that could cost the association millions -- just to defend the case. http://realtytimes.com/rtpages/20120404_trayvonmartin.htm F430538C-F4A6-494D-BC7A-2512405AEDA3 Wed, 4 Apr 2012 07:19:13 -0700 Real estate economists and analysts are increasingly optimistic that the housing market will have a dramatic recovery in the next two years, according to results of a new semi-annual survey of 38 real estate economists and analysts conducted by the Urban Land Institute’s Center for Capital Markets and Real Estate. http://realtormag.realtor.org/daily-news/2012/04/03/will-housing-prices-soar-2014 9BD61D43-ECD1-42D2-9639-C2B0584154ED Wed, 4 Apr 2012 07:17:56 -0700 A growing number of families are moving in together, which sometimes means that three generations are living all under one roof. http://realtormag.realtor.org/daily-news/2012/04/03/more-generations-live-under-one-roof 2FF068E2-E689-4815-ADE6-28DFA09C05CF Wed, 4 Apr 2012 07:16:57 -0700 Appraisals that come in lower than the agreed-upon sales price are a source of frustration for home buyers, sellers, and real estate professionals, as they can quickly derail a deal. http://realtormag.realtor.org/daily-news/2012/04/03/agents-try-find-work-outs-after-appraisals 8D9E1202-E5DC-4A65-A186-01BCB0352F89 Wed, 4 Apr 2012 07:15:58 -0700 Orange County is seeing its best housing market since the final days of the housing boom in 2005, with the number of homes for sale at their lowest level in nearly seven years and the number of sales contracts in progress at their second highest level, a new housing report shows. http://lansner.ocregister.com/2012/04/03/oc-sees-best-housing-market-since-boom/160432/ 12068313-81C8-4937-9D6B-DEBFB523EA9B Wed, 4 Apr 2012 07:12:56 -0700 Federal Reserve policymakers are worried that recent strong gains in hiring could fizzle if U.S. economic growth doesn't pick up. But there's no widespread support for additional bond purchases, even if the economy worsens. http://www.latimes.com/business/la-fi-fed-minutes-20120403,0,6823692.story A240447D-6FA7-4771-B2BE-BE5A6EDCD8C6 Wed, 4 Apr 2012 07:10:03 -0700 According to LPS, 7.57% of mortgages were delinquent in February, down sharply from 7.97% in January, and down from 8.80% in February 2011. http://www.lpsvcs.com/LPSCorporateInformation/NewsRoom/Pages/20120403.aspx F9800290-7202-4AEF-B205-8F852E10B050 Tue, 3 Apr 2012 07:27:06 -0700 As many as 1.25 million of America’s least cared for homes are headed for auction after a year-long probe into foreclosure practices kept them off the market. http://www.bloomberg.com/news/2012-04-03/home-prices-seen-dropping-10-in-u-s-on-foreclosures-mortgages.html E20549B9-D033-4283-8476-567F50421EFB Tue, 3 Apr 2012 07:25:25 -0700 The number of homes listed for sale in San Diego County has fallen to its lowest level in more than two years, a likely sign that homeowners who want to sell their homes can't or are still on the fence, based on recent numbers from the San Diego Association of Realtors. http://www.utsandiego.com/news/2012/apr/03/number-homes-sale-lowest-2-years/ DA028B63-B2A5-4A20-A3A9-5B867D4EC103 Tue, 3 Apr 2012 07:24:18 -0700 Some real estate markets are reporting that home buyers are having to pay more than asking price to get the home they desire, as the supply of for-sale homes has shrunk, Bloomberg News reports. http://realtormag.realtor.org/daily-news/2012/04/02/bidding-wars-are-back-agents-say FAE3FE52-08AD-4E11-A706-A4A27E095F36 Mon, 2 Apr 2012 22:55:43 -0700 We expect home prices to definitively bottom by the middle of this year, as the backlog of foreclosures finally begins clear. http://www.calculatedriskblog.com/2012/04/wells-fargo-on-housing-better-days.html A48BCAB8-0071-499D-9604-F26616419FD5 Mon, 2 Apr 2012 22:41:37 -0700 The U.S. Census Bureau of the Department of Commerce announced today that construction spending during February 2012 was estimated at a seasonally adjusted annual rate of $808.9 billion, 1.1 percent (±1.3%)* below the revised January estimate of $818.1 billion. http://www.calculatedriskblog.com/2012/04/construction-spending-declines-in.html 47F2DFCF-8D5C-440F-9675-4B40FB4DC891 Mon, 2 Apr 2012 22:38:49 -0700 With home prices down more than a third from their peak and the market swamped with foreclosures, large investors are salivating at the opportunity to buy perhaps thousands of homes at deep discounts and fill them with tenants. http://www.cnbc.com/id/46930173 979A384E-D925-43EC-AFAB-D31442D60BF5 Mon, 2 Apr 2012 22:32:57 -0700 Federal regulators are poised to crack down on eight financial firms that are not part of the recent government settlement over home foreclosure practices involving sloppy, inaccurate or forged documents. http://www.cnbc.com/id/46925977 B79E9B4B-A335-42F1-98D1-3586E8D1DD1E Mon, 2 Apr 2012 22:29:55 -0700 The National Association of Home Builders (NAHB) isn't waiting for politicos in Washington D.C. to revamp the federal government's housing finance system. http://realtytimes.com/rtpages/20120402_reform.htm 111B7718-93D9-42E5-819D-9F74D534849F Mon, 2 Apr 2012 07:54:17 -0700 For the 22 business days ending March 15, DataQuick reports 2,486 residences sold in February, up 2.9% vs. year-ago. The median selling price for a home in Orange County was $399,000, down 5.0% vs. a year ago. http://lansner.ocregister.com/2012/03/31/160367/160367/ C2F386B9-8B2F-4E26-AB7C-576E96E7AF01 Mon, 2 Apr 2012 07:50:24 -0700 California had the third biggest decrease among U.S. states in the number of homes in some stage of the foreclosure process, CoreLogic reported. http://lansner.ocregister.com/2012/03/30/calif-foreclosure-rates-dropping/160293/ 489FFB51-1463-495D-92A6-712395E38C1E Mon, 2 Apr 2012 07:43:40 -0700 The program, called "Mortgage to Lease," is not available in California -- among the states hardest hit by the housing crisis -- at least not yet. http://www.utsandiego.com/news/2012/mar/30/will-bofas-foreclosure-rental-program-hit-calif/ F7C94BB5-C92C-4232-973E-0965D6C00FE4 Mon, 2 Apr 2012 07:41:09 -0700 Even as some mortgage standards have eased, hitting a needed appraisal value is proving a frustrating blocker for buyers and sellers and those looking to refinance. http://money.cnn.com/2012/03/30/real_estate/mortgage-denied/index.htm?iid=HP_River CD2B8563-3FE9-48B1-BD32-F87AE3BA6C4C Mon, 2 Apr 2012 07:38:30 -0700 Fannie Mae reported that the Single-Family Serious Delinquency rate declined in February to 3.82%, down from 3.90% in January. This is down from 4.44% in February 2011. http://www.calculatedriskblog.com/2012/03/fannie-mae-and-freddie-mac-serious.html 26A3AD8A-C4E6-4A8E-9152-A9D3A829EB86 Mon, 2 Apr 2012 07:31:41 -0700 A HomeGain survey recently reported that real estate agents are very optimistic about their industry. http://realtytimes.com/rtpages/20120330_market.htm 7475709F-8BEF-4385-84E9-E036C9E7343A Fri, 30 Mar 2012 07:28:18 -0700 Mortgage applications for Federal Housing Administration loans soared 11 percent from the previous week as borrowers try to rush their applications in to beat the higher FHA costs that will start rolling out on Monday. http://realtormag.realtor.org/daily-news/2012/03/29/fha-loan-apps-rise-borrowers-try-beat-fee-hikes 3EA48D70-9CFC-45B6-94E6-B6F15270274C Fri, 30 Mar 2012 07:25:22 -0700 "Investors are already absorbing much of the nation’s housing inventory, and Realtors® are concerned that a bulk sale or rental program in areas where such a program is unnecessary could delay or impede local market recoveries." - NAR President http://www.realtor.org/press_room/news_releases/2012/03/reo_program EA33EF27-12D2-4ED7-BE19-7EAE09545371 Fri, 30 Mar 2012 07:22:28 -0700 U.S. consumer confidence rebounded to its highest level in more than a year in March as optimism about jobs and income overcame higher prices at the gasoline pump, said a survey released on Friday. http://www.cnbc.com/id/46903998 7D56A89B-3890-46FB-88BC-BDCCC3BC64B2 Fri, 30 Mar 2012 07:19:02 -0700 Personal income increased $28.2 billion, or 0.2 percent ... in February, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $86.0 billion, or 0.8 percent. http://www.calculatedriskblog.com/2012/03/personal-income-increased-02-in.html 6BBF2087-AF98-40B2-B70F-F7F7B4E8D223 Fri, 30 Mar 2012 07:17:10 -0700 Our monthly tracking of Redfin.com’s list of Orange County most expensive residential properties for sale shows 11 ultra-pricey abodes officially on the market as of March 28. http://lansner.ocregister.com/2012/03/28/11-mega-mansions-still-for-sale-in-o-c/160216/ DA607E51-6ED3-4683-AD85-AF24D8563CEC Fri, 30 Mar 2012 07:05:35 -0700 The number of U.S. homes stuck in foreclosure ticked down slightly in February when compared with the same month a year earlier, new data released Thursday shows. http://www.latimes.com/business/money/la-fi-mo-foreclosures-20120329,0,4865854.story?track=rss 96ADEB03-C1F6-41C9-9281-3E5A039D0674 Fri, 30 Mar 2012 07:00:04 -0700 When choosing between one debt or another, American consumers are more likely to make a payment on their auto loans before sending in checks for mortgages and credit cards, TransUnion said. http://housingwire.com/article/consumers-pay-auto-loans-mortgages 37946A13-0B3B-49FA-A315-644DD4868C76 Fri, 30 Mar 2012 06:53:40 -0700 The number of homes sold to investors more than doubled last year, as rising rents and low-priced distressed properties fueled demand. Investors, half of them using no mortgage, bought 1.23 million homes in 2011, a 65 percent jump from 2010, according to the National Association of Realtors. http://www.cnbc.com/id/46892030 D8C0BFA0-9E62-4D87-A090-C6FE043DB91C Thu, 29 Mar 2012 08:38:45 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.99 percent with an average 0.7 point for the week ending March 29, 2012, down from last week when it averaged 4.08 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=126095 78AA3D11-21D2-4D1B-A0A6-FA5C36F04925 Thu, 29 Mar 2012 07:19:32 -0700 The DOL reports in the week ending March 24, the advance figure for seasonally adjusted initial claims was 359,000, a decrease of 5,000 from the previous week's revised figure of 364,000. http://www.calculatedriskblog.com/2012/03/weekly-initial-unemployment-claims_29.html AEE75356-CBC9-482E-8DD6-C6CE7B65519C Thu, 29 Mar 2012 07:16:47 -0700 ammers are increasingly taking actual online listing ads of homes for sale from real estate agents’ sites and reposting them on sites such as CraigsList as rentals, duping a growing number of renters. http://realtormag.realtor.org/daily-news/2012/03/28/real-estate-ads-hijacked-online-in-scams FC9288EA-7107-4490-8F81-183D1E8855E7 Thu, 29 Mar 2012 07:15:28 -0700 Sales of investment and vacation homes jumped in 2011, with the combined market share rising to the highest level since 2005, according to the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2012/03/invest_vac_2012 5C06B116-26EC-448C-A6CA-584DED1AFB6F Thu, 29 Mar 2012 07:14:05 -0700 For every two homes on the U.S. housing market, there’s one foreclosure or potential foreclosure yet to be listed, housing tracker CoreLogic reported in its latest "shadow inventory" report. http://lansner.ocregister.com/2012/03/28/one-third-of-housing-market-in-the-shadows/159982/ FD3666A0-B3B2-4EEE-932C-9E0694634866 Thu, 29 Mar 2012 07:10:59 -0700 Given... dismal statistics, it might seem surprising that experts such as Moody’s Analytics chief economist Mark Zandi are increasingly optimistic. http://www.washingtonpost.com/business/economy/housing-experts-optimistic-despite-dismal-data/2012/03/26/gIQA7UH2eS_story.html 4E2E98FD-25B1-4842-997D-B9AF7485289A Thu, 29 Mar 2012 07:04:18 -0700 A variety of encouraging indicators suggest the housing market is awakening, "much like the garden flora reemerging from their winter dormancy," Frank Nothaft, Freddie Mac chief economist said Wednesday. http://housingwire.com/article/freddie-mac-says-housing-market-awakening-predicts-lower-unemployment EADEA45A-E592-49AA-BE3D-08BD62F89337 Thu, 29 Mar 2012 07:01:41 -0700 C.A.R.’s Pending Home Sales Index rose from a revised 102.3 in January to 127.8 in February, based on signed contracts. http://www.car.org/newsstand/newsreleases/2012releases/feb2012phsi 292D18EC-C873-4720-B400-A90E594D2CB9 Thu, 29 Mar 2012 06:57:07 -0700 The American public’s attitude toward the economy is broadly on the upswing, according to the latest CNBC All-America Economic Survey, but details show deep-seated concerns that present problems for both political parties in the presidential election. http://www.cnbc.com/id/46838034 0FE14742-79E6-4505-864D-B280589582C1 Wed, 28 Mar 2012 07:38:17 -0700 The MBA reports the Refinance Index has decreased for six consecutive weeks, falling to its lowest level since December. The seasonally adjusted Purchase Index increased 3.3 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/80329.htm 1D407175-0AD9-4AFD-8220-CA4C956D6875 Wed, 28 Mar 2012 07:34:06 -0700 The Federal Housing Administration announced that starting April 1 it will not insure mortgages to borrowers who have an ongoing credit dispute of $1,000 or more on their file. http://realtormag.realtor.org/daily-news/2012/03/27/new-fha-rule-kick-some-buyers-out D51FA4D1-C12B-4FC4-A09B-0414B5FEEB30 Wed, 28 Mar 2012 07:20:44 -0700 Rents in Southern California in February took their biggest jump in 10 months, as measured by the regional Consumer Price Index. http://lansner.ocregister.com/2012/03/27/socal-rents-biggest-jump-in-10-months/160189/ 5947FD73-4D3E-4BC4-89A9-5D63C672F7B3 Wed, 28 Mar 2012 07:17:32 -0700 The number of San Diego County homes that were foreclosed upon in February fell to its lowest level in more than four years, while mortgage defaults remain higher than the pre-recession norm, Wednesday's DataQuick report shows. http://www.utsandiego.com/news/2012/mar/28/san-diego-foreclosures-fall-feb/ AC93540A-5D66-49C5-BB07-D9B451955D72 Wed, 28 Mar 2012 07:08:28 -0700 Gas that costs nearly $4 a gallon seems to be a consumer confidence-killer, pushing one measure of how Americans feel in March down off a 1-year high. http://www.latimes.com/business/money/la-fi-mo-consumer-confidence-20120327,0,1394774.story?track=rss 1225FBCD-10EA-4BAB-BA19-0EECE010CEDB Wed, 28 Mar 2012 07:05:00 -0700 Home values may be down nationwide, but the majority of Americans surveyed by Fannie Mae in the fourth quarter still prefer homeownership as opposed to renting. http://housingwire.com/article/americans-committed-homeownership-goals-fannie 912E39BC-475F-4CF4-98E0-00119BC31AF3 Wed, 28 Mar 2012 07:03:27 -0700 There are "encouraging" signs the high-end housing market is recovering in many U.S. markets, Toll Brothers CEO Douglas Yearley told CNBC. http://www.cnbc.com/id/46872827 7193CCEC-ECB1-41DB-A92F-A4DC9222E353 Wed, 28 Mar 2012 07:01:16 -0700 Donald P. Kennedy, who grew a Santa Ana title company into a global real estate and financial services empire, died Saturday, his company announced. He was 93. http://lansner.ocregister.com/2012/03/26/first-americans-don-kennedy-dead-at-93-2/160136/ B055A7B2-6D00-402C-B7F7-7B025346B3E5 Tue, 27 Mar 2012 06:52:57 -0700 Orange County homebuying spurt is broad, with all four corners of the county enjoying sales growth vs. 2011! http://lansner.ocregister.com/2012/03/26/o-c-sees-widespread-homebuying-spurt/160127/ 6EF09A12-4267-4B50-A833-67C8321D17BC Tue, 27 Mar 2012 06:51:09 -0700 To help struggling homeowners, Bank of America recently launched a test initiative that will give some a chance to rent the very homes they risk losing. Last week, the Charlotte, NC-based bank began sending letters accompanied with leases to 1,000 homeowners in Arizona, Nevada and New York. http://finance.fortune.cnn.com/2012/03/26/bank-of-america-foreclosure-rental/?iid=HP_River 22D75381-AC9D-4681-97B6-E1B8378C6021 Tue, 27 Mar 2012 06:48:45 -0700 U.S. single-family home prices were unchanged in January, suggesting the battered housing market continues to crawl along the bottom, a closely watched survey said on Tuesday. http://www.cnbc.com/id/46866705 998C30DB-1DF7-4F4E-B2F1-B9F02883A931 Tue, 27 Mar 2012 06:39:20 -0700 Lennar Corp.'s first-quarter profit dropped compared with results a year ago that got a lift from legal settlement. http://www.cnbc.com/id/46865830 21C020E3-55C1-42B8-8C31-EA7EE5435167 Tue, 27 Mar 2012 06:37:33 -0700 Pending home sales were down slightly in February but remain notably above the pattern in the first half of last year, according to the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2012/03/phs_feb B02D3CFC-7295-4461-A376-9EB2A6A3D569 Mon, 26 Mar 2012 08:45:27 -0700 Chairman Ben Bernanke says the U.S. job market remains weak despite three months of strong hiring and that the Federal Reserve's existing policies will help boost growth. http://www.cnbc.com/id/46854217 91A8C639-0D16-479D-B3CD-DDF7FDE8603A Mon, 26 Mar 2012 08:44:45 -0700 The Commerce Department said on Friday sales slipped 1.6 percent to a seasonally adjusted 313,000-unit annual rate. January's sales pace was revised down to 318,000 units from the previously reported 321,000 units. http://www.cnbc.com/id/46833687 4A0A2652-C3C1-42F5-ADF6-9186A745F5CF Fri, 23 Mar 2012 07:21:55 -0700 Net orders totaled 1,197 in the first quarter of 2012, down 8% from 1,302 net orders in the year-earlier quarter ... gross orders were up 3%, an increase in the cancellation rate to 36% from 29% in the year-earlier quarter led to the year-over-year decrease in net orders. http://www.calculatedriskblog.com/2012/03/kb-home-deliveries-up-net-orders-down.html C2658C7B-0DA4-4A23-AC12-B49EE5452434 Fri, 23 Mar 2012 07:20:32 -0700 Bank of America Corp. is launching a pilot program that will allow homeowners at risk of foreclosure to hand over deeds to their houses and sign leases that will let them rent the houses back from the bank at a market rate. http://online.wsj.com/article/SB10001424052702304724404577297904070547784.html?mod=WSJ_RealEstate_LeftTopNews 45F9329B-F441-407D-AFA2-D44A28CC011C Fri, 23 Mar 2012 07:18:09 -0700 The U.S. Supreme Court handed private property owners a victory yesterday with a decision allowing a couple to appeal an EPA ruling that their property contains a wetlands. http://realtormag.realtor.org/daily-news/2012/03/22/supreme-court-sides-property-owners-in-epa-appeals-case A7150685-BCF9-4387-A1AC-F6891AAE2963 Fri, 23 Mar 2012 07:16:37 -0700 The height and bulk of a tower being built as part of a Ralphs supermarket alongside I-5 in San Clemente is raising eyebrows as the city wrestles with a debate over whether to limit future downtown construction to two stories. http://www.ocregister.com/news/downtown-345958-city-clemente.html F54E3366-007B-4938-8E12-4868C6FE23C3 Fri, 23 Mar 2012 07:12:21 -0700 A federal court has frozen assets at five California companies that are being investigated for trying to scam U.S. homeowners facing foreclosure. http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2012/03/22/financial/f082349D68.DTL DD6B153D-A79E-4FD3-A4EB-8FBB3EABDD46 Fri, 23 Mar 2012 07:08:34 -0700 Improving economic data and government-policy developments have led Bank of America/Merrill Lynch to call for the long-awaited bottom in housing prices this year. http://blogs.wsj.com/developments/2012/03/22/elusive-bottom-for-home-prices-near-forecast-says/?mod=WSJBlog&mod=WSJ_Real%20Estate_BLOGSDEVELOPMENTSFEED 58D7DF40-B366-4CD0-BD63-0838649ACE18 Fri, 23 Mar 2012 07:07:42 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 4.08 percent with an average 0.8 point for the week ending March 22, 2012, up from last week when it averaged 3.92 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=125270 AD4DA80C-BE73-44D3-872F-9A07E5C1667C Thu, 22 Mar 2012 07:26:08 -0700 "We have updated our home price model and believe that prices are bottoming now. However, we continue to believe the recovery will not begin in earnest until 2014." - Merrill Lynch http://www.calculatedriskblog.com/2012/03/misc-merrill-house-pricesbottoming-now.html 7126D002-BA37-4DA3-B63C-CA214E63A038 Thu, 22 Mar 2012 07:24:12 -0700 A recent acceleration in U.S. job growth could create a virtuous cycle, lining the pockets of more Americans, leading to more spending, faster growth and further hiring. http://www.cnbc.com/id/46819079 79898128-0AED-4A2F-9F6C-E0A8DEF823E9 Thu, 22 Mar 2012 07:22:42 -0700 The DOL reports the week ending March 17, the advance figure for seasonally adjusted initial claims was 348,000, a decrease of 5,000 from the previous week's revised figure of 353,000. http://www.calculatedriskblog.com/2012/03/weekly-initial-unemployment-claims_22.html B1EC3917-0452-41B7-BFED-4ADCAE38C3AA Thu, 22 Mar 2012 07:21:38 -0700 The last - and largest - community to be created by the developer that brought to life Mission Viejo, Rancho Santa Margarita and Ladera Ranch will be called Rancho Mission Viejo. http://www.ocregister.com/news/mission-345695-moiso-rancho.html D492D710-6507-40CF-AF8B-6866ED698345 Thu, 22 Mar 2012 07:16:28 -0700 San Juan Capistrano will initiate a General Plan amendment to accommodate a request from a developer that wants to build 34 homes on about half of a 20.6-acre parcel of open space off Ortega Highway. http://www.ocregister.com/news/space-345659-open-city.html 47BF8137-2E62-44B3-9F3A-23FD1A455416 Thu, 22 Mar 2012 07:14:10 -0700 Scams targeting people eager to dump their timeshares are spreading throughout California, prompting the state Department of Real Estate to issue a fraud alert warning the public about the practice. http://lansner.ocregister.com/2012/03/21/state-issues-timeshare-fraud-alert/159927/ C4B1FDDA-60F6-4C06-8BA7-00472DEC23C1 Thu, 22 Mar 2012 07:12:23 -0700 For the first time since 2005, investment in residential real-estate, including home building and renovation, has contributed to U.S. economic output for the past three quarters. http://www.calculatedriskblog.com/2012/03/housing-signs-of-life.html 06A1A639-C38F-44CB-A619-A03E8823CE07 Thu, 22 Mar 2012 07:07:58 -0700 In 98 of the top 100 housing markets, buying a home is more affordable than renting, according to the online real estate company Trulia. http://money.cnn.com/2012/03/21/real_estate/homes-buy-rent/index.htm?iid=SF_BN_LN 19BEC814-9F1E-4B01-B603-0502A1221795 Thu, 22 Mar 2012 07:06:18 -0700 CoreLogic reports that the current residential shadow inventory as of January 2012 was 1.6 million units - approximately the same level reported in October 2011. http://www.calculatedriskblog.com/2012/03/corelogic-existing-home-shadow.html 18AAA6C6-D97E-40F6-B5DB-C8B39080F63D Thu, 22 Mar 2012 06:56:55 -0700 February existing-home sales declined from an upwardly revised January pace but are well above a year ago, while the median price posted a slight gain, according to the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2012/03/ehs_feb 346530A2-5DE6-4445-A46E-AE19C4B40AB1 Wed, 21 Mar 2012 08:13:10 -0700 LPS reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) declined to 7.57% from 7.97% in January. http://www.calculatedriskblog.com/2012/03/lps-percent-of-delinquent-mortgage.html A61D1035-AE1C-4B1D-8520-25D95B3C0160 Wed, 21 Mar 2012 08:10:43 -0700 The MBA reports The Refinance Index decreased 9.3 percent from the previous week. The seasonally adjusted Purchase Index decreased 1.0 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/80276.htm 58D63835-E9D0-4F28-881C-CD4B553628C3 Wed, 21 Mar 2012 08:07:42 -0700 MetLife Inc. is laying off 118 workers in Irvine as part of the company’s plan to shut down its nationwide mortgage operation, a spokesman confirmed today. http://economy.ocregister.com/2012/03/20/metlife-lays-off-118-at-o-c-mortgage-office/106031/ D17A1961-CF61-4803-A0AB-EB13B0204536 Wed, 21 Mar 2012 08:04:43 -0700 In Orange County, the active distressed inventory, both short sales and foreclosures combined, is at its lowest point since September 2007. http://lansner.ocregister.com/2012/03/20/just-3-weeks-worth-of-o-c-foreclosures-for-sale/159896/ 226DCBA7-EDD1-4FB9-9328-E9935CBAC67E Wed, 21 Mar 2012 08:02:45 -0700 Permits for U.S. homebuilding neared a 3 1/2 year high in February, even as groundbreaking activity slipped, suggesting a nascent recovery in the housing market was still on track. http://www.cnbc.com/id/46793252 87F80C6E-8B86-430F-82F6-974311AC7C47 Tue, 20 Mar 2012 07:54:05 -0700 Privately-owned housing starts in February were at a seasonally adjusted annual rate of 698,000. http://www.calculatedriskblog.com/2012/03/housing-starts-decline-slightly-in.html DE5C2E74-2517-49A8-B50A-E9AFA680362F Tue, 20 Mar 2012 07:50:45 -0700 More than 2 million California households owed more on their homes than they were worth in the fourth quarter of 2011, with the state ranking sixth in percentage of households that were "under water," the latest CoreLogic report shows. http://lansner.ocregister.com/2012/03/19/calif-6th-most-underwater-state-in-u-s/159697/ B315F069-E089-4004-BA71-3122AF0A860B Tue, 20 Mar 2012 07:38:27 -0700 Orange County’s housing market speed - by one measure - quickened 8.2% in the past two weeks and sped up 48.8% in a year. http://lansner.ocregister.com/2012/03/19/o-c-housing-market-literally-on-fire/159887/ 5219E563-4409-4DB1-8AD1-ECB762B99903 Tue, 20 Mar 2012 07:26:20 -0700 The banks -- EverBank, Goldman Sachs, HSBC North America, OneWest Bank, MetLife, PNC Financial Services Group, US Bancorp and SunTrust Banks -- face sanctions for "unsafe and unsound practices in their loan servicing and foreclosure processing," the Fed said. http://www.latimes.com/business/money/la-fi-mo-bank-fines-20120319,0,5598208.story?track=rss DF353483-EF69-4DDB-95C7-E918F97BADEF Tue, 20 Mar 2012 07:23:19 -0700 Median list prices nationwide increased 6.82 percent in February compared to February 2011, according to the latest data from Realtor.com. http://realtormag.realtor.org/daily-news/2012/03/16/nationwide-list-prices-rise-nearly-7 C58682E3-126A-4DB5-800A-4AA83CEC3ED9 Mon, 19 Mar 2012 08:12:25 -0700 Private Transfer fees are encumbrances placed on mortgages by the property developer to generate fees every time the property is sold, often in effect for as long as 99 years. http://realtormag.realtor.org/daily-news/2012/03/16/ban-private-transfer-fee-big-win-for-buyers FD8FC786-F063-498E-954C-58DD0D8D412F Mon, 19 Mar 2012 08:09:50 -0700 Builder confidence in the market for newly built, single-family homes was unchanged in March from a revised level of 28 on the National Association of Home Builders/Wells Fargo Housing Market Index, released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=15125 1D958D9B-B5EC-472F-8B53-B1FAAEB794BF Mon, 19 Mar 2012 08:07:36 -0700 Some big investors have shown interest in buying foreclosed properties being sold in bulk by Fannie Mae, the largest U.S. home funding source, the Wall Street Journal said citing people familiar with the process. http://www.cnbc.com/id/46780751 8C8A3975-2278-42AF-B11F-B443881B89D4 Mon, 19 Mar 2012 08:04:56 -0700 According to CoreLogic’s latest late-mortgage report, 5.44% of Orange County home-loan borrowers as of January are 90 days-plus late with their house payments. http://lansner.ocregister.com/2012/03/17/o-c-late-mortgage-payments-drop-21/159844/ 131455CF-1470-4325-BCCE-51262B9B43E3 Mon, 19 Mar 2012 08:02:11 -0700 The Santa Ana City Council on Monday will take up a proposal to develop a 278-unit apartment complex in the MacArthur Place area. http://www.ocregister.com/news/city-344961-project-units.html 378EF2F4-8F4B-4C47-AFFE-1A05D842A1E4 Mon, 19 Mar 2012 07:59:38 -0700 A survey by Pew Research Center of 2,048 American adults confirmed the growth of multi-generational living among young adults - and, perhaps, high acceptance of what is often portrayed as a less-than-desirable situation. http://lansner.ocregister.com/2012/03/16/moving-back-to-parents-cooler-than-you-think/159823/ 624C9E4F-E231-4B31-BFC0-0A51C7951847 Mon, 19 Mar 2012 07:53:22 -0700 The California Department of Real Estate (DRE) issued today a Consumer Alert about the growing number of scams being perpetrated against timeshare owners in connection with timeshare resales. http://www.businesswire.com/news/sacbee/20120316005030/en 50D56AAF-8A7A-4F7A-B1FB-08CFEE3E7335 Mon, 19 Mar 2012 07:49:06 -0700 Consumer sentiment dipped in early March as rising gasoline prices pushed Americans' inflation expectations for the next year higher, a survey released on Friday showed. http://www.cnbc.com/id/46758537 9104C2D1-A9D9-4383-A66C-7177FDA91394 Fri, 16 Mar 2012 08:36:24 -0700 A top U.S. Federal Reserve official said on Friday that he dissented against the central bank's decision this week to hold interest rates near zero until at least late 2014 because he thought rates would need to rise some time next year. http://www.cnbc.com/id/46756583 A16AD32A-B244-414C-AF27-D571CFF982B4 Fri, 16 Mar 2012 08:35:16 -0700 Finding themselves financially strapped, more seniors at an earlier age are trying to get reverse mortgages on their homes in order to survive, according to a new report. http://www.cnbc.com/id/46735752 24B75227-9EBD-449C-AF64-59940AA012FC Fri, 16 Mar 2012 08:33:06 -0700 An estimated 29,630 new and resale houses and condos were sold across California last month. That was up 5.4 percent from 28,111 in January, and up 8.5 percent from 27,320 in February 2011. http://www.dqnews.com/Articles/2012/News/California/RRCA120315.aspx 2D9675A4-B61D-4FD6-B897-5057FDD5C4A2 Fri, 16 Mar 2012 08:27:22 -0700 As part of a settlement with state attorneys general, the five largest mortgage servicers are adopting new requirements for short sales, which is expected to speed-up what has been known as a lengthy process. http://realtormag.realtor.org/daily-news/2012/03/15/short-sales-get-shorter-new-deadlines-go-effect 9E0B83EC-91DC-4B7F-836B-12A703C28DA8 Fri, 16 Mar 2012 08:25:07 -0700 NAR applauds the Federal Housing Finance Agency for issuing a final rule to restrict Fannie Mae, Freddie Mac and the Federal Home Loan Banks from investing in mortgages encumbered by private transfer fee covenants. http://www.realtor.org/press_room/news_releases/2012/03/transfer_fees D5E867C4-5D7D-4861-B909-9991ED63B5A7 Fri, 16 Mar 2012 08:21:16 -0700 Property owners in California were put on notice in January that the state Franchise Tax Board will be cracking down on taxpayers who deduct Mello-Roos and other property-related fees that aren’t legally deductible from state income taxes. http://lansner.ocregister.com/2012/03/15/california-wont-verify-property-tax-write-off/159785/ 555F54A8-1627-433E-AA67-976F32145338 Fri, 16 Mar 2012 08:17:48 -0700 Managers at Wells Fargo and other major banks ignored widespread errors in the foreclosure process, in some cases instructing employees to adopt make-believe titles and speed documents through the system despite internal objections, according to a wide-ranging review by federal investigators. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/03/14/BUAV1NJU1F.DTL 5A4C3B95-B971-47B7-8373-FB761356F828 Fri, 16 Mar 2012 08:15:21 -0700 The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in February on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. http://www.calculatedriskblog.com/2012/03/bls-cpi-increases-04-in-february.html 67DD77A7-188F-4BDA-B13C-9917AFD7F5D1 Fri, 16 Mar 2012 08:11:29 -0700 CoreLogic reports 69,000 completed foreclosures in January 2012, compared to 80,000 in January 2011, and 65,000 in December 2011. http://www.calculatedriskblog.com/2012/03/corelogic-69000-completed-foreclosures.html 5813DBC4-BD12-4A79-992E-390089309964 Fri, 16 Mar 2012 08:08:46 -0700 Community banks have a lot to fear from the Dodd-Frank financial reforms, which could put half of them out of business, former FDIC Chairman Bill Isaac told CNBC Wednesday. http://www.cnbc.com/id/46740719 45152D57-9329-4A23-AC8F-6A9F1F0CC0DD Thu, 15 Mar 2012 08:38:42 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.92 percent with an average 0.8 point for the week ending March 15, 2012, up from last week when it averaged 3.88 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=124392 EBDB7BFE-D571-426C-9855-99383C7398A2 Thu, 15 Mar 2012 08:36:22 -0700 The tally of housing markets showing measurable improvement reached 99 in March, according to the National Association of Home Builders/First American Improving Markets Index (IMI), released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=15104 639CCAF5-BF7A-41C3-A732-21172F507C8F Thu, 15 Mar 2012 08:35:08 -0700 The DOL reports: In the week ending March 10, the advance figure for seasonally adjusted initial claims was 351,000, a decrease of 14,000 from the previous week's revised figure of 365,000. The 4-week moving average was 355,750, unchanged from the previous week's revised average of 355,750 http://www.calculatedriskblog.com/2012/03/weekly-initial-unemployment-claims_15.html FC205883-A676-434F-8A84-4C7F5A769A53 Thu, 15 Mar 2012 08:32:14 -0700 The Southland housing market posted the highest number of February home sales in five years as record levels of investor and cash buyers helped spur robust activity under $300,000. http://www.dqnews.com/Articles/2012/News/California/Southern-CA/RRSCA120314.aspx D99A4D6E-F347-48F5-A1A4-3C723F68AE6C Thu, 15 Mar 2012 08:12:20 -0700 Home automation will come standard on the last 20 homes Ryland Homes is building at its Sunset Ridge at the Retreat community in Corona. http://www.pe.com/business/business-columns/residential-real-estate-headlines/20120314-real-estate-ryland-homes-puts-automation-in-corona-houses.ece 55DB5913-8BD3-47F6-B0C1-7BC41544FA69 Thu, 15 Mar 2012 08:10:23 -0700 The number of Americans receiving delinquency notices on their homes rose in February from January, while the backlog of homes in the foreclosure pipeline showed signs of starting to ease, a report said on Thursday. http://www.cnbc.com/id/46744064 F48B1BAD-450D-4193-ABE9-17D16E3F8755 Thu, 15 Mar 2012 08:08:58 -0700 The foreclosure picture brightened last month in California and nationwide, but the improvement may not last, according to Irvine data tracker RealtyTrac. http://www.latimes.com/business/money/la-fi-mo-foreclosures-20120314,0,4407096.story?track=rss 3C661D0D-2882-4DA5-BB1B-7AAC05C2056C Thu, 15 Mar 2012 08:07:29 -0700 The majority of the largest U.S. banks passed the Federal Reserve's annual stress test, the central bank said on Tuesday, while also allowing JPMorgan Chase, Wells Fargo, U.S. Bancorp and others to raise dividends or buy back stock. http://www.cnbc.com/id/46721983 7490E8EC-44E8-4F94-92EE-99BB7A53EF49 Wed, 14 Mar 2012 09:06:13 -0700 Aging baby boomers and their echo boomer children will significantly impact trends in the nation’s housing market over the next 20 years. http://www.realtor.org/press_room/news_releases/2012/03/influence 45636521-99A3-49B7-8FCC-4AF107EA519E Wed, 14 Mar 2012 09:00:39 -0700 The Mortgage Bankers Association reports the Refinance Index decreased 4.1 percent from the previous week to its lowest level since January 6, 2012. The seasonally adjusted Purchase Index increased 4.4 percent from one week earlier to its highest level since January 13, 2012. http://www.mortgagebankers.org/NewsandMedia/PressCenter/80201.htm 91560813-C997-45EA-BAB9-ADF02179A6EB Wed, 14 Mar 2012 08:57:31 -0700 Consultants Atlas Hospitality Group of Irvine reports that California hotel sales last year were worth a record. http://lansner.ocregister.com/2012/03/13/calif-hotels-sell-at-record-pace/159682/ 16D15E7B-C249-4887-B4DE-3AD7CD71FF9A Wed, 14 Mar 2012 08:55:22 -0700 California houses have the third highest rents in the nation, according to a new study by online real estate tracker Zillow. http://lansner.ocregister.com/2012/03/13/calif-has-nations-3rd-highest-house-rents/159709/ 9C81AF6E-C656-407D-B2FC-983FE09EDCE4 Wed, 14 Mar 2012 08:54:06 -0700 The BLS reports regional and state unemployment rates were generally lower in January. 45states and the District of Columbia recorded unemployment rate decreases, New York posted a rate increase, and 4 states had no change. http://www.calculatedriskblog.com/2012/03/state-unemployment-rates-generally.html 90D620E1-C1F6-4EBE-9D0C-96B6D09E73F5 Wed, 14 Mar 2012 08:50:56 -0700 The BLS reports The number of job openings in January was 3.5 million, unchanged from December. http://www.calculatedriskblog.com/2012/03/bls-job-openings-unchanged-in-january.html 88A04AF7-AC93-4C32-A715-322EAD66B909 Wed, 14 Mar 2012 08:49:13 -0700 The $25-billion settlement gives the nation's largest mortgage servicers more incentives to help those who owe 40% to 75% more than the value of their homes. http://www.latimes.com/business/la-fi-foreclosure-terms-20120313,0,3388434.story 0A6BA766-0BBF-46B9-8EDE-1180AFFBA550 Wed, 14 Mar 2012 08:48:04 -0700 The mortgage industry has a new cop on the beat: Joseph A. Smith Jr. http://blogs.wsj.com/developments/2012/03/12/banks-meet-the-new-foreclosure-monitor/?mod=WSJBlog&mod=WSJ_Real%20Estate_BLOGSDEVELOPMENTSFEED EF349B9C-DA31-4E6B-8DAC-400CF3F11BBE Wed, 14 Mar 2012 08:47:07 -0700 Policymakers said the job market had improved but unemployment remains high, reiterating its expectation that rates would remain near zero until at least late 2014. http://www.cnbc.com/id/46720854 7D38D5B8-E640-45A1-B614-6A3DCAE8410E Tue, 13 Mar 2012 11:30:40 -0700 More than five years after real estate prices began to tumble, Americans are finally starting to get property tax breaks on their devalued homes, a USA TODAY analysis finds. http://www.cnbc.com/id/46717634 30A1A276-ADB4-44F7-BD57-AE3F9F8A476B Tue, 13 Mar 2012 07:34:18 -0700 Banks will face stiff penalties and intense public scrutiny if they fail to live up to the standards of a $25 billion mortgage settlement with state and federal authorities, according to court documents filed as part of the deal Monday in federal court in Washington. http://www.cnbc.com/id/46714569 3ED877C7-6EA9-4F50-9168-268E85B72CF4 Tue, 13 Mar 2012 07:29:32 -0700 The government was able to chip away at its foreclosure inventory in 2011, reducing it by nearly half, HousingWire reports in analyzing financial statements from three government enterprises. http://realtormag.realtor.org/daily-news/2012/03/12/govt-trims-half-its-foreclosure-inventory 816F32C4-10ED-4D17-8DBD-43AD08F63FA2 Tue, 13 Mar 2012 07:26:04 -0700 A 3.8 percent levy on certain investment income was included in healthcare legislation two years ago, and now misinformation about the tax’s application to home sales is being passed along over the Internet and e-mail, throwing some prospective home sellers into a panic. http://realtormag.realtor.org/daily-news/2012/03/12/facts-38-health-care-tax BAB69CDB-5A4E-4765-A3B4-D32E6B296B9D Tue, 13 Mar 2012 07:24:11 -0700 Those who decide to borrow more than they owe on their existing mortgage often assume they can write off interest on the whole new loan, but in many cases they can't. http://online.wsj.com/article/SB10001424052970203960804577239152801934074.html?mod=WSJ_RealEstate_MIDDLETopNews 21ACE932-9AF8-4952-A683-93160CACB0E7 Tue, 13 Mar 2012 07:16:51 -0700 U.S. and state officials accused five large U.S. banks of overcharging and misleading borrowers in court documents filed Monday as part of the $25 billion settlement of alleged foreclosure abuses. http://online.wsj.com/article/SB10001424052702304537904577277461594649588.html 447B903D-0CC0-4888-9BBB-93DBF3E07233 Tue, 13 Mar 2012 07:13:26 -0700 Experts say pump prices are rising on the expectation that supplies will dip next month while refineries switch from winter to summer gasoline blends. http://finance.yahoo.com/news/gasoline-prices-jump-nickel-over-150719747.html B9387B49-D8F5-4557-886C-8AAFBB020E4F Mon, 12 Mar 2012 08:48:24 -0700 Banks won a handful of concessions in the landmark $25 billion settlement of alleged foreclosure abuses, as federal officials struck a balance between their desire to be tough on lenders and the need to provide immediate relief to the housing market. http://online.wsj.com/article/SB10001424052702303717304577275533589239426.html?mod=WSJ_RealEstate_LeftTopNews 3F5D92D9-8924-403A-BDBE-C59276B3DCBD Mon, 12 Mar 2012 08:44:49 -0700 DataQuick reports for the 22 business days ending Feb. 21 the median selling price for all residences in Orange County was $387,250 - 5.5% lower than the same period one year ago. However Orange County sales were up 6.3% for the same period. http://lansner.ocregister.com/2012/03/10/o-c-home-prices-drop-5-5/159642/ 5D8AD2EF-43BC-4DE5-86CE-44D2EFF8DE5F Sat, 10 Mar 2012 08:11:49 -0800 A 22-year-old San Diego woman has been sentenced to six months in jail for running a rental scam that conned at least ten people, authorities said. http://www.utsandiego.com/news/2012/mar/08/rental-scam/ E19D5895-E861-4C14-9DEA-A84CCD657E85 Sat, 10 Mar 2012 08:08:17 -0800 A former Countrywide Financial Corp. loan officer has been sentenced to 15 years in federal prison after pleading guilty to charges related to a nearly $40 million mortgage fraud scheme. http://www.latimes.com/business/money/la-former-countrywide-loan-officer-gets-15-years-for-mortgage-fraud-20120309,0,1050534.story?track=rss D3B2DBEC-77EA-4F0B-AC0E-C93B2CC13F99 Sat, 10 Mar 2012 08:02:33 -0800 Freddie Mac reported results for Q4 and all of 2011. Freddie reported that they acquired 98,631 REO in 2011 (Real Estate Owned via foreclosure or deed-in-lieu), down from a record 128,238 in 2010. http://www.calculatedriskblog.com/2012/03/freddie-mac-reo-inventory-declines-16.html 8E0BD322-EE92-4221-8F95-33440BFB9063 Sat, 10 Mar 2012 07:57:23 -0800 Bank of America said Friday it would reduce by about $100,000 the amount owed by as many as 200,000 underwater homeowners as part of the recently announced government foreclosure settlement with top mortgage servicers. http://www.latimes.com/business/money/la-fi-mo-bank-of-america-mortgages-20120309,0,5615384.story?track=rss 6CBEF223-3DEE-479E-8E3F-CD9E5E5DD966 Sat, 10 Mar 2012 07:51:44 -0800 Wealthier Americans aren't very optimistic about the economic recovery, with a surprising 63 percent saying the US is still in a recession, according to a new poll. http://www.cnbc.com/id/46672702 2E254656-C28C-488E-9949-5A610F251C36 Sat, 10 Mar 2012 07:48:28 -0800 Baby Boomers putting their house up for sale could flood the market in coming years, while the younger generations may not be interested in buying, a new report says. http://www.cnbc.com/id/46667801 E3D9F4DB-3E5F-4330-8352-CDE2D7931EDF Sat, 10 Mar 2012 07:41:56 -0800 First 10 houses in developer Taylor Morrison’s 132-home gated community, Campanilla, will have beginning prices in the low $600,000s. http://www.ocregister.com/news/homes-343811-bodem-san.html 64134F7D-7225-4567-9611-0D6C37DA6CBA Fri, 9 Mar 2012 07:59:33 -0800 Nearly 4,000 additional Orange County homeowners slipped under water at the end of 2011, bringing to nearly 102,000 the total number of O.C. households with homes worth less than they owe their lenders, data firm CoreLogic reported this week. http://lansner.ocregister.com/2012/03/08/nearly-102000-oc-homes-are-under-water/159517/ FB979B94-8901-4F70-B47B-198A859D36A4 Fri, 9 Mar 2012 07:58:06 -0800 Nonfarm payroll employment rose by 227,000 in February, and the unemployment rate was unchanged at 8.3 percent, the U.S. Bureau of Labor Statistics reported today. http://www.calculatedriskblog.com/2012/03/february-employment-report-227000-jobs.html 0A324A19-6D37-41A0-90AE-780A9FE4CBD9 Fri, 9 Mar 2012 07:55:23 -0800 Bank of America will provide deeper-than-anticipated principal reductions for about 200,000 homeowners under newly disclosed terms of last month’s foreclosure settlement with state and federal authorities. http://www.cnbc.com/id/46681114 FFD25B27-9D56-44B9-9D40-432EBFBCB5BC Fri, 9 Mar 2012 07:53:59 -0800 The regulator of housing giants Fannie Mae and Freddie Mac on Friday outlined a new compensation plan for executives of the two government-controlled firms. http://www.cnbc.com/id/46680763 2870EB63-A864-4976-AE37-90AE6D33ECCB Fri, 9 Mar 2012 07:53:01 -0800 According to the Fed, household net worth peaked at $66.8 trillion in Q2 2007, and then net worth fell to $50.4 trillion in Q1 2009 (a loss of $16.4 trillion). http://www.calculatedriskblog.com/2012/03/feds-flow-of-funds-household-real.html 5B60C06C-3F65-40D6-AB96-9E40D0DFEE72 Fri, 9 Mar 2012 07:50:54 -0800 Americans’ concerns over housing and the economy are subsiding, according to Fannie Mae’s National Housing Survey from February. http://realtormag.realtor.org/daily-news/2012/03/08/americans-more-optimistic-about-housing-economy BDEB73A4-CEB8-4176-BE93-D8F75C999ADD Fri, 9 Mar 2012 07:49:52 -0800 The National Association of Realtors' (NAR) Housing Affordability Index reached a record high this January. http://www.inman.com/news/2012/03/8/nar-housing-affordability-index-hits-42-year-high-in-january 94A44628-1FA4-41ED-BCA3-4E4B2001E8C9 Fri, 9 Mar 2012 07:48:24 -0800 Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed-rate mortgages at or near their 60-year lows helping to drive record high homebuyer affordability. http://freddiemac.mediaroom.com/index.php?s=12329&item=123793 73E153F8-2655-4E70-AB47-F5F34BCA1B70 Thu, 8 Mar 2012 07:36:11 -0800 The DOL reports in the week ending March 3, the advance figure for seasonally adjusted initial claims was 362,000, an increase of 8,000 from the previous week's revised figure of 354,000. http://www.calculatedriskblog.com/2012/03/weekly-initial-unemployment-claims_08.html 6F7F6B51-7C7A-4B73-9E06-248436E1AB20 Thu, 8 Mar 2012 07:26:54 -0800 The Multifamily Production Index (MPI), a leading indicator for the multifamily market released by the National Association of Home Builders (NAHB) today, showed steady improvement in the apartment and condominium housing market for a sixth consecutive quarter. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=15075 9B444E23-B8C6-4ECF-89F2-244C618318B1 Thu, 8 Mar 2012 07:25:22 -0800 Commercial and multifamily mortgage delinquency rates declined during the fourth quarter of 2011. http://www.mortgagebankers.org/NewsandMedia/PressCenter/80153.htm B010DDFF-14E0-4201-B860-BE19C9CD0F7F Thu, 8 Mar 2012 07:23:31 -0800 State officials have noticed an emerging scam: Callers say they will help homeowners apply for Keep Your Home California benefits for fees of up to $900. http://www.utsandiego.com/news/2012/mar/07/new-housing-scheme-emerges-california/ C6055FDE-76A4-4195-AACC-DEBDAE1A8457 Thu, 8 Mar 2012 07:13:34 -0800 Three hundred acres planned for 249 luxury-view homes high in the foothills of Corona were purchased in foreclosure for $3.5 million. http://www.pe.com/business/business-headlines/20120307-real-estate-corona-master-planned-community-sells-for-3.5-million.ece F05207D9-2EFD-4B0B-A995-E832F2EBE64D Thu, 8 Mar 2012 07:09:02 -0800 The federal government's response to the home mortgage crisis always has been an exercise in living down to one's lowest expectations. http://www.latimes.com/business/realestate/la-fi-hiltzik-20120307,0,246162.column 1BD562C8-B3C3-4ABD-A120-92EC5BE5C690 Thu, 8 Mar 2012 07:06:45 -0800 A federal housing regulator hasn’t done enough to oversee mortgage-servicing companies used by Fannie Mae and Freddie Mac to collect payments on home loans despite widespread attention to problems in the industry, a federal watchdog said Wednesday. http://blogs.wsj.com/developments/2012/03/07/report-criticizes-housing-regulator-on-mortgage-servicing/?mod=WSJBlog&mod=WSJ_Real%20Estate_BLOGSDEVELOPMENTSFEED 830DE115-E7D2-4232-B246-3A93066E7595 Thu, 8 Mar 2012 07:04:18 -0800 The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 1.2 percent in the week ended March 2. http://www.cnbc.com/id/46652272 DFA04B93-E278-4ED5-A5FD-B4352FCFCA61 Wed, 7 Mar 2012 06:57:19 -0800 U.S. workers were more efficient at the end of last year, although their gains in productivity have slowed from this summer. http://www.cnbc.com/id/46652042 1E16A54F-6C3D-4BFF-A9A8-2281B408CBC8 Wed, 7 Mar 2012 06:55:55 -0800 FHA mortgage applications increased in January while FHA mortgage rates continued to remain low. http://realtytimes.com/rtpages/20120307_rateupdate.htm C1E105BD-2C87-4692-8510-5386D377791F Wed, 7 Mar 2012 06:47:07 -0800 The percentage of mortgage fraud activity rose 20 percent in the third quarter compared to a year earlier, a report by the Financial Crimes Enforcement Network finds. http://realtormag.realtor.org/daily-news/2012/03/06/mortgage-fraud-cases-rise-20 FC2C00B4-4324-4134-81D3-65D13AB2F944 Wed, 7 Mar 2012 06:44:39 -0800 NAR’s Housing Affordability Index rose to a record high 206.1 in January, based on the relationship between median home price, median family income and average mortgage interest rate. http://www.realtor.org/press_room/news_releases/2012/03/hai_record 013CC679-5110-41DB-B210-4B35AB927B30 Wed, 7 Mar 2012 06:43:30 -0800 The CoreLogic January Home Price Index (HPI®) report shows national home prices, including distressed sales, declined on a year-over-year basis by 3.1 percent in January 2012 and by 1.0 percent compared to December 2011, the sixth consecutive monthly decline. http://www.calculatedriskblog.com/2012/03/corelogic-house-price-index-declined-10.html 72E4BD4D-F1A4-4590-951F-C81C95A9A6B7 Wed, 7 Mar 2012 06:40:48 -0800 The pace of job creation by private employers accelerated more than expected in February, a report by a payrolls processor showed on Wednesday. http://www.cnbc.com/id/46651876 AF9B489C-B26D-4197-8236-0278689B79D8 Wed, 7 Mar 2012 06:39:57 -0800 It’s getting harder for non-investors to buy foreclosures in some parts of the country, as lenders shift their strategies on how to deal with distressed inventory. http://www.marketwatch.com/story/harder-for-non-investors-to-buy-foreclosures-2012-03-06 49DF7526-3658-4C01-ABE3-F4F352D9DC73 Wed, 7 Mar 2012 06:37:37 -0800 The folks who ran the Wild Rivers water park in Irvine - an Orange County summertime fixture for a quarter-century before its demise last year - are hoping to recreate the magic in Temecula. http://lansner.ocregister.com/2012/03/06/wild-rivers-restarting-in-temecula/159375/ 6939CCCF-C41D-458C-98A5-176D7A1909FF Wed, 7 Mar 2012 06:36:34 -0800 Acting Federal Housing (FHA) Commissioner Carol Galante announced significant price cuts to FHA’s Streamline Refinance Program that could benefit millions of borrowers whose mortgages are currently insured by FHA. http://www.calculatedriskblog.com/2012/03/fha-reduces-fees-to-encourage.html F3680142-BC50-4076-9C19-285D9F334F4F Wed, 7 Mar 2012 06:23:58 -0800 ousands of foreclosures that were stuck in process due to delays over the so-called "Robo-signing" paperwork scandal are working their way through a revamped banking system and heading toward final bank repossession. http://www.cnbc.com/id/15837671 DE1A4594-753D-4D80-9694-B48069260B2C Wed, 7 Mar 2012 06:21:44 -0800 Foreclosure starts and sales were up sharply in January. This is just one month, but it is possible that the lenders are finally working through the backlog of loans. http://www.calculatedriskblog.com/2012/03/lps-foreclosure-starts-and-sales.html 6BC89DEC-C98B-4FE0-8FC3-14416665C5BF Tue, 6 Mar 2012 07:58:26 -0800 The Obama administration on Tuesday announced another initiative to allow more homeowners to refinance, this time by dropping fees on federally insured mortgages that have prevented some borrowers from taking advantage of ultralow rates over the past year. http://blogs.wsj.com/developments/2012/03/06/white-house-reduces-fha-refi-fees/ E8139805-D473-4DE1-BA25-C66095676BDF Tue, 6 Mar 2012 07:56:48 -0800 The housing supply is expected to normalize in two to four years, Barclays Capital projects, assuming that household formation rates increase to 1.1 million and construction remains slightly above 2011 levels. http://realtormag.realtor.org/daily-news/2012/03/05/when-will-housing-supply-normalize 3AA72D9C-11DC-4F7A-8411-72950A6D8FB8 Tue, 6 Mar 2012 07:54:32 -0800 According to the deptofnumbers.com for monthly inventory (54 metro areas), is off 20.5% compared to the same week last year. Unfortunately the deptofnumbers only started tracking inventory in April 2006. http://www.calculatedriskblog.com/2012/03/existing-home-inventory-declines-21.html 79B536B1-087F-4FB5-8064-59E4EE5B9CE2 Tue, 6 Mar 2012 07:51:20 -0800 The Obama administration will extend mortgage assistance for the first time to investors who bought multiple homes before the market imploded, helping some speculators who drove up prices and inflated the housing bubble. http://www.bloomberg.com/news/2012-03-05/boom-era-property-speculators-to-get-foreclosure-aid-mortgages.html A201FF86-D882-4392-AEDE-B2DA7997BF4B Tue, 6 Mar 2012 07:42:10 -0800 A $7.6-billion federal program to help unemployed homeowners stave off foreclosure has provided little relief two years after being unveiled, with less than $218 million of the money paid out to needy borrowers as of Jan. 1. http://www.latimes.com/business/realestate/la-fi-hardest-hit-20120303,0,2823851.story?track=lat-pick 24641E07-190C-4866-B464-F65ABEE206AE Tue, 6 Mar 2012 07:39:59 -0800 Housing markets are complex and varied, and a government pilot program to turn bank-owned properties into rentals could be disruptive and counterproductive in some markets, according to the National Association of REALTORS®. http://realtormag.realtor.org/daily-news/2012/03/02/nar-reo-rental-programs-largely-unnecessary E728E03F-F25F-4566-86BA-0E014D69EABB Mon, 5 Mar 2012 08:58:02 -0800 The Obama administration will extend mortgage assistance for the first time to investors who bought multiple homes before the market imploded, helping some speculators who drove up prices and inflated the housing bubble. http://www.bloomberg.com/news/2012-03-05/boom-era-property-speculators-to-get-foreclosure-aid-mortgages.html 76DED7E1-A94B-438E-A382-DBA99388D7BE Mon, 5 Mar 2012 08:50:27 -0800 Five Orange County men accused of defrauding homeowners seeking government mortgage help are scheduled to be arraigned Monday in Santa Ana, federal authorities said. http://www.ocregister.com/news/mortgage-343102-accused-homeowners.html B8B804F8-15D8-4DF6-AA89-6C11C7886BE3 Mon, 5 Mar 2012 08:49:24 -0800 A 1.2% year-to-year gain isn’t boom times, but after drops in 16 of the past 19 months and early February uptick is at least a glimmer. http://lansner.ocregister.com/2012/03/03/is-o-c-homebuying-rebound-about-to-start/159319/ FFA32240-22D7-48A6-9D47-2907AF1F5AAF Mon, 5 Mar 2012 08:45:51 -0800 CoreLogic, a real estate data provider, said Thursday that 11.1 million, or 22.8%, of American households with a mortgage were "under water" at the end of last year. http://blogs.wsj.com/developments/2012/03/01/number-of-under-water-borrowers-rises/?mod=WSJBlog&mod=WSJ_Real%20Estate_BLOGSDEVELOPMENTSFEED 416A534D-261E-426E-8C37-1A035AB5E060 Mon, 5 Mar 2012 08:41:12 -0800 An increase in the loan guarantee fee charged by Freddie and Fannie has been mandated by Congress to occur this spring. http://www.nytimes.com/2012/03/04/realestate/mortgages-a-hidden-fee-is-set-to-rise.html?_r=2&ref=realestate F395A96D-6D6B-481B-A2CB-2C2E65F0944D Mon, 5 Mar 2012 08:37:15 -0800 U.S. small businesses added 45,000 employees in February and offered workers more money even as working hours were little changed, an independent survey showed. http://www.cnbc.com/id/46619255 5409DE2C-0B9A-484E-9713-F5D21B307675 Mon, 5 Mar 2012 08:31:59 -0800 Recent signs of improvement in the U.S. economy are encouraging but the rebound has been anemic and the Federal Reserve must "keep applying monetary policy stimulus vigorously," San Francisco Federal Reserve President John Williams said on Thursday. http://www.cnbc.com/id/46602390 AF4C64D9-D982-412F-BAB6-D2AE84C15D97 Fri, 2 Mar 2012 07:33:21 -0800 The list of ten least stressful places also includes wealthy spots such as Long Island NY, Cambridge MA, San Jose CA, Washington DC, and Orange County CA. http://www.bestplaces.net/docs/studies/stressful_cities_2012.aspx 6ABFA0F2-8DBD-4C83-87BB-65BD371F3743 Fri, 2 Mar 2012 07:10:15 -0800 Banks are more willing to agree to a sale at a lower cost than a home owner’s mortgage balance in order to avoid having the property fall into foreclosure, which can be more costly for a lender. http://realtormag.realtor.org/daily-news/2012/03/01/short-sales-rise-more-banks-view-it-better-option DC9163E0-2B27-4D09-AA15-B1585468DA49 Fri, 2 Mar 2012 07:06:53 -0800 Housing markets are complex and varied, and a government pilot program to turn bank-owned properties into rentals could be disruptive and counterproductive in some markets, according to the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2012/02/government_pilot_program F2CFC15B-C0AC-40D3-B908-917CE13F0F8B Fri, 2 Mar 2012 07:03:28 -0800 Buyers are being picky and many sellers know it. Some owners are taking homes off the market; those owners remaining on the market are seeing their homes snapped up quickly. http://www.ocregister.com/articles/market-342652-beach-year.html 9CEDC277-133D-4722-BFFA-FCF307BB7A12 Fri, 2 Mar 2012 06:57:19 -0800 The San Diego City Attorney’s office, the agency that brought forth charges against Mercado, 37, said Coastal Home Solutions, 4420 Rainier Avenue, promised to modify mortgages for up-front fees but never delivered. http://www.utsandiego.com/news/2012/mar/01/homeowners-may-be-owed-money-loan-mod-scam/ 5B48E97D-212C-44E1-AF50-DA4232D3B4F9 Fri, 2 Mar 2012 06:55:39 -0800 As home sales begin a slow recovery and potential buyers dip their toes back in real estate's still-troubled waters, many of them face a huge barrier to entry: Negative equity, that is, borrowers who owe more on their mortgages than their homes are currently worth. http://www.cnbc.com/id/46593271 653865B3-5EA2-413A-BC65-E2C2005821B8 Fri, 2 Mar 2012 06:48:54 -0800 CoreLogic today released negative equity data showing that 11.1 million, or 22.8 percent, of all residential properties with a mortgage were in negative equity at the end of the fourth quarter of 2011. http://www.calculatedriskblog.com/2012/03/corelogic-111-million-us-properties.html 792CB453-267B-4F3D-A9DE-34FA568FB6CB Fri, 2 Mar 2012 06:46:18 -0800 The U.S. Census Bureau of the Department of Commerce announced today that construction spending during January 2012 was estimated at a seasonally adjusted annual rate of $827.0 billion, 0.1 percent below the revised December estimate of $827.6 billion. http://www.calculatedriskblog.com/2012/03/construction-spending-declines-slightly.html 8AA2431F-B455-4994-9127-3747DA650098 Fri, 2 Mar 2012 06:44:35 -0800 Personal income increased $37.4 billion, or 0.3 percent in January, according to the Bureau of Economic Analysis. Personal consumption expenditures increased $23.2 billion, or 0.2 percent. http://www.calculatedriskblog.com/2012/03/personal-income-increased-03-in-january.html 4AD53EE0-28B5-44AC-BD64-730C0109263D Thu, 1 Mar 2012 07:34:55 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.90 percent with an average 0.8 point for the week ending March 1, 2012, down from last week when it also averaged 3.95 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=122823 FCF3BA30-3CB6-4F32-8D53-72C00902FB43 Thu, 1 Mar 2012 07:32:08 -0800 The DOL reports in the week ending February 25, the advance figure for seasonally adjusted initial claims was 351,000, a decrease of 2,000 from the previous week's revised figure of 353,000. http://www.calculatedriskblog.com/2012/03/weekly-initial-unemployment-claims.html 36607BA7-7094-41D8-94F2-80DF707F7202 Thu, 1 Mar 2012 07:24:59 -0800 Despite huge delays in foreclosure processing last year, following the so-called "robo-signing" paperwork scandal, sales of foreclosed properties still managed to account for nearly one in four home sales in the fourth quarter of 2011, up from one in five in the previous quarter. http://www.cnbc.com/id/46577054 FF1886D5-EBF1-431E-9604-39B0E997B537 Thu, 1 Mar 2012 07:24:15 -0800 Real estate pros are reporting that sellers are more willing this year to price their homes competitively as well as change the appearance of their home in order to lure buyers, according to a survey of 600 agents conducted by Coldwell Banker Real Estate. http://realtormag.realtor.org/daily-news/2012/02/29/sellers-willing-do-more-get-home-sold F873C1C0-5C39-4A59-8F2E-6830A5895AE6 Thu, 1 Mar 2012 07:22:24 -0800 An analysis by The Wall Street Journal finds that banks take longer to evict once-wealthy home owners who live in expensive homes but stop making their payments than defaulting home owners who live in more modest homes. http://realtormag.realtor.org/daily-news/2012/02/29/rich-stay-put-longer-when-in-foreclosure-study-says 5E1A815C-D80A-444A-98CF-75F3B9B1BF9D Thu, 1 Mar 2012 07:21:18 -0800 Sales of distressed real estate made up nearly a quarter of all single-family residential sales both in the fourth quarter of 2011 and the entire year according to information released today by RealtyTrac. http://www.mortgagenewsdaily.com/02292012_reo_distressed_sales.asp 2F6E46A2-2B76-4CA5-9F24-04BFE16D6E1B Thu, 1 Mar 2012 07:19:45 -0800 Investors and other private homebuyers have picked up their pace of homebuying at Orange County foreclosure sales, new figures from ForeclosureRadar show. http://lansner.ocregister.com/2012/02/29/investors-buying-more-foreclosures/159111/ 116FF5E0-4193-449D-A233-C3CB365BC874 Thu, 1 Mar 2012 07:18:03 -0800 The financial repackaging left the Lyon family with a minority 20% share in the business that had been almost entirely in family hands. http://lansner.ocregister.com/2012/02/29/lyon-bankruptcy/159213/ 808C54C6-3313-40C4-B240-8BF4090065B7 Thu, 1 Mar 2012 07:12:24 -0800 DeMarco, who's been feeling the heat from Harris and other leaders, said his agency has already analyzed principal forgiveness three different times and concluded that it's not as effective as existing tools. http://www.utsandiego.com/news/2012/feb/29/fannie-freddie-regulator-shoots-back-calif-ag/ 1BB9658A-FCCE-45DA-90BA-D8B1D6C2BB48 Thu, 1 Mar 2012 07:09:50 -0800 California Attorney General Kamala Harris joined state Senate President Pro Tem Darrell Steinberg and Assembly Speaker John Perez to unveil a package of bills designed to curb unfair foreclosure practices. http://www.sacbee.com/2012/02/29/4301265/bills-aim-to-curb-unfair-foreclosure.html F17634F0-266F-4454-8CD8-D605526F4087 Thu, 1 Mar 2012 07:06:57 -0800 Despite the approach of "Super Tuesday" elections on March 6, it is unlikely that candidates in the Republican presidential primary race will focus much on housing until June, according to real estate search and marketing site Trulia. http://www.inman.com/news/2012/02/29/real-estate-misery-and-presidential-race 5398F7AA-6646-44F9-A9BF-A5F52D3E9F5F Thu, 1 Mar 2012 07:01:56 -0800 Fannie Mae reported that the Single-Family Serious Delinquency rate declined in January to 3.90%, down from 3.91% in December. http://www.calculatedriskblog.com/2012/02/fannie-mae-serious-delinquency-rate.html 564A1F99-33EB-4A49-ACFF-86FE9207DCF9 Thu, 1 Mar 2012 06:51:04 -0800 Fannie reported that they acquired 47,256 REO in Q4 and disposed of 51,344 REO. This has been the pattern all year. http://www.calculatedriskblog.com/2012/02/fannie-mae-reo-inventory-declines-27-in.html 55C0D0A3-352C-4C09-A966-BF1BEA88110A Thu, 1 Mar 2012 06:48:07 -0800 Bank of America is planning to introduce a monthly fee for its customers holding checking accounts unless they agree to bank online, buy more products or maintain certain balances, the Wall Street Journal said. http://www.cnbc.com/id/46584643 A268600F-374F-42DB-AE75-5B2A7084B0BE Thu, 1 Mar 2012 06:45:53 -0800 The Federal Reserve said Wednesday that all 12 of its banking districts reported some level of growth in January and the first half of February. http://finance.yahoo.com/news/areas-country-show-growth-fed-190300346.html E4F7FB94-FBBE-4D96-9FFF-0DA53FF3C20F Wed, 29 Feb 2012 13:58:19 -0800 Fannie Mae, the biggest source of money for U.S. home loans, said on Wednesday it would seek $4.6 billion in additional federal aid after reporting a fourth-quarter loss. http://www.cnbc.com/id/46575526 ACFAF6D5-8D01-4701-92F2-6123324029B2 Wed, 29 Feb 2012 13:55:24 -0800 The five biggest banks in the United States are too powerful and should be broken up, Dallas Fed President Richard Fisher said on Wednesday. http://www.cnbc.com/id/46574251 9077D729-F4C2-4C12-9EF9-ADA66502484B Wed, 29 Feb 2012 13:43:28 -0800 Despite stronger US economic growth, "the job market is far from normal" and may require the Federal Reserve to launch more stimulus measures, Fed Chairman Ben Bernanke told Congress Wednesday. http://www.cnbc.com/id/46571447 40BF2071-7902-4077-B6EB-00EFB6E39666 Wed, 29 Feb 2012 08:03:58 -0800 Ben Bernanke says the Federal Reserve is sticking with its plan to hold interest rates at record-low levels until at least late 2014, despite a pickup in hiring that's steadily lowered the unemployment rate. http://finance.yahoo.com/news/bernanke-stands-plan-keep-record-150423433.html 229FDE6A-05AA-4AF1-A6FE-943D15654FD9 Wed, 29 Feb 2012 08:01:38 -0800 The MBA reports the Refinance Index decreased 2.2 percent from the previous week. The seasonally adjusted Purchase Index increased 8.2 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/80004.htm D89D0F01-B23E-43C5-9C1B-7452A3D82196 Wed, 29 Feb 2012 07:43:49 -0800 Under increasing pressure from Democrats to do more to stem foreclosures, the regulator for Fannie Mae and Freddie Mac on Tuesday strongly defended his opposition to allowing the government-owned housing finance companies to write down mortgage principal for "underwater" homeowners. http://www.latimes.com/business/money/la-fi-mo-fannie-freddie-mortgages-20120228,0,1530338.story?track=rss E7E28CCE-F669-4CE3-87D3-97E50FDE4437 Wed, 29 Feb 2012 07:38:17 -0800 Nearly half of current homeowners buying new homes by the end of 2012 are expected pay in cash, and that's not a good thing for home prices. http://finance.fortune.cnn.com/2012/02/28/housing-cash-purchases/?iid=HP_LN 89F1B324-1D84-4234-8C04-25D7122578F4 Wed, 29 Feb 2012 07:36:26 -0800 On a price-to-rent basis, the Case-Shiller National index is back to October 1998 levels, the Composite 20 index is back to March 2000 levels, and the CoreLogic index is back to December 1999. http://www.calculatedriskblog.com/2012/02/real-house-prices-and-price-to-rent.html 5FAD3E6E-4330-4914-AB32-6A7334EF0180 Wed, 29 Feb 2012 07:31:21 -0800 "Housing is one of the great investments right now. I tell people all the time when they come up to me, they say, "What should I do, Mr. Trump?" I say go buy a house. http://www.cnbc.com/id/46557593 C2D3C8C1-1EA2-4B74-A864-B3826907F155 Tue, 28 Feb 2012 09:20:32 -0800 Home prices fell in December for a fourth straight month in most major U.S. cities, as modest sales gains in the depressed housing market have yet to lift prices. http://www.cnbc.com/id/46554316 B5B3010A-4867-40B0-BBC1-22C77B887CF3 Tue, 28 Feb 2012 09:08:01 -0800 U.S. consumer confidence scaled a one-year high in February as optimism about the labor market offset concerns over rising gas prices, an independent survey showed on Tuesday. http://www.cnbc.com/id/46555862 F6F4B601-6405-40D7-BD2B-BBCE85B0D71D Tue, 28 Feb 2012 09:03:55 -0800 If the lenders can get borrowers to refinance (only loans owned or guaranteed by Fannie and Freddie), the lenders will no longer be responsible if the original loan defaults. http://www.bloomberg.com/news/2012-02-27/u-s-refinancing-program-garners-tremendous-borrower-interest-fhfa-says.html E52DCDF5-5C11-42B0-A955-B209109FBDEC Tue, 28 Feb 2012 09:01:29 -0800 The Federal Housing Finance Agency (FHFA) today announced the first pilot transaction under the Real Estate-Owned (REO) Initiative, targeted to hardest-hit metropolitan areas - Atlanta, Chicago, Las Vegas, Los Angeles, Phoenix and parts of Florida. http://www.fhfa.gov/webfiles/23403/REOPR22712F.pdf 0DA5D319-8E27-4CCB-9D71-87A3E7909BEA Tue, 28 Feb 2012 08:59:14 -0800 Inventory of new homes on the market shrank to its lowest point on record in January, marking a 5.6-month supply at the current sales pace, the Commerce Department reports. http://realtormag.realtor.org/daily-news/2012/02/27/new-home-inventory-shrinks-record-lows EA8B7B9E-D585-45E9-B604-731ED12BD0B6 Tue, 28 Feb 2012 08:58:01 -0800 The Federal Housing Administration (FHA) announced that it is increasing both upfront and annual premiums for its insured single family loans. http://www.mortgagenewsdaily.com/02282012_fha_fha_fees.asp FCC26F34-4177-47EC-954B-78F9271D00AB Tue, 28 Feb 2012 08:56:23 -0800 Real estate data collection giant CoreLogic of Santa Ana is no longer for sale and a big shareholder isn’t happy, demanding change at the top! http://lansner.ocregister.com/2012/02/28/shareholder-wants-corelogic-execs-fired/159122/ 24835962-4FA3-416C-8FA0-1759AA883095 Tue, 28 Feb 2012 08:53:23 -0800 More than 36,000 people have applied for rental assistance through the Orange County Housing Authority - roughly double the number who applied the last time the waiting list opened. http://www.ocregister.com/news/housing-342163-list-orange.html 5E8E4735-E2B7-4556-BB92-52C2E1858C50 Tue, 28 Feb 2012 08:51:56 -0800 Grubb & Ellis filed for Chapter 11 protection Monday in New York, It has also agreed to sell most of its assets to New York City-based BGC Capital Partners, a company spun off from Cantor Fitzgerald in 2004. BGC will provide some of the financing required to keep Grubb & Ellis operating during the reorganization process. http://www.pe.com/business/business-headlines/20120221-real-estate-grubb-ellis-declares-bankruptcy-and-is-sold.ece 2B05E98E-1794-4B09-82B2-2096FAA8776C Tue, 28 Feb 2012 08:49:18 -0800 Atty. Gen. Kamala D. Harris in a letter asked the regulator of the government-controlled mortgage titans to halt foreclosures in California until the agency has completed a "thorough, transparent analysis of whether principal reduction is in the best interests of struggling homeowners as well as taxpayers." http://www.latimes.com/business/money/la-fi-mo-fannie-freddie-foreclosure-20120227,0,2545582.story?track=rss 1CD7156B-0D73-4D03-8B6A-2C073317EA6B Tue, 28 Feb 2012 08:47:20 -0800 Total consumer debt levels fell 1.1% to $11.53 trillion in the fourth quarter of 2011 compared to the prior quarter, largely due to developments in the housing market, a report from the Federal Reserve Bank of New York said Monday. http://blogs.wsj.com/economics/2012/02/27/consumer-debt-falls-on-less-mortgage-borrowing/?grcc=65480c933bc5beb7fe2ded4ba5041f55Z9&mod=WSJ_hpp_sections_business 932DAB3F-FB4D-4789-84DE-BF363AC296F4 Tue, 28 Feb 2012 08:45:44 -0800 Pending home sales are on an upward trend, which has been uneven but meaningful since reaching a cyclical low last April, and are well above a year ago, according to the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2012/02/phs_jan 60D5FA67-2409-4663-8200-35E83AD04B7E Mon, 27 Feb 2012 08:12:08 -0800 Federal Reserve Chairman Ben Bernanke recently spoke at the 2012 National Association of Homebuilders International Builders' Show and made some strong statements about the housing market and what has and has not happened in recent years. http://realtytimes.com/rtpages/20120227_realestateoutlook.htm 1D0109CC-B6FF-4EC0-AF62-1E6CAEE8C2CF Mon, 27 Feb 2012 08:10:05 -0800 The Department of Housing and Urban Development announced on Monday that it is charging the Bank with discriminating against disabled homebuyers under provisions of the Fair Housing Act. http://www.mortgagenewsdaily.com/02272012_bank_of_america_legal_issues.asp DDF5D450-AF66-4FC3-8E42-9738985BEE91 Mon, 27 Feb 2012 08:08:08 -0800 Higher fees are sneaking into the overall cost of most mortgages. But given ultralow interest rates these days, it’s likely few borrowers will notice. http://www.marketwatch.com/story/mortgage-fees-are-on-the-rise-2012-02-27 BE7B0561-B610-4E2B-9274-6EB372115BAB Mon, 27 Feb 2012 08:06:38 -0800 The economists surveyed expect housing starts to reach 700,000 units in 2012, up from 610,000 in 2011 and an upward revision from the November forecast. http://www.calculatedriskblog.com/2012/02/consensus-housing-forecast-for-2012.html ABB638D0-35EF-4FE1-8BB7-F5BF6349B3CF Mon, 27 Feb 2012 08:01:15 -0800 Although the manufactured home data only goes back to 1980, it is pretty clear that total housing completions (single and multi-family) and manufactured home placements were at record low levels since at least the early '60s. http://www.calculatedriskblog.com/2012/02/2011-record-low-placements-of.html 0BA4B55B-B5D2-4DC3-931E-3D000EF77EC1 Mon, 27 Feb 2012 08:00:03 -0800 California was the 9th worst U.S. home market in the fourth quarter, as measured by a federal price index. http://lansner.ocregister.com/2012/02/24/calif-9th-worst-u-s-home-market/158953/ 60326012-DE2C-4A08-903A-6C21AE3543C4 Sat, 25 Feb 2012 09:08:42 -0800 Pending home sales in California climbed in January from both the previous month and the previous year, according to data collected by the CALIFORNIA ASSOCIATION OF REALTORS®. Additionally, distressed home sales rose in January, comprising about half of all homes sold. http://www.car.org/newsstand/newsreleases/2012releases/jan2011phsi/ 52DFB30F-2758-4DAA-B264-C202FC87C97E Sat, 25 Feb 2012 08:53:43 -0800 Inventories of homes listed for sale in January dropped by 6.6% from December to 1.77 million, the eighth straight month that listings have declined. http://blogs.wsj.com/developments/2012/02/24/where-are-all-the-home-sellers/ E04D5D6C-5322-4527-9A3C-E2DB782B910C Sat, 25 Feb 2012 08:51:13 -0800 Unemployment should drop below 8 percent this year as part of an improving economic climate that could take more monetary easing off the table, Fed President James Bullard told CNBC. http://www.cnbc.com/id/46510655 B80DD9D6-3A98-4C89-82CE-092505A3CA5E Fri, 24 Feb 2012 10:31:11 -0800 Bank of America is faced with numerous reps and warrants challenges on the mortgage front, and as a result of growing uncertainty, it will no longer sell certain mortgage refinances into Fannie Mae mortgage-backed securities. http://www.housingwire.com/article/bank-america-stops-selling-mortgages-fannie-mae 9431E384-87B9-499D-9F64-D41AE4D1727E Fri, 24 Feb 2012 10:28:48 -0800 Sales of newly-built, single-family homes declined by less than one percent in January from an upwardly revised number in the previous month to hit a seasonally adjusted annual pace of 321,000 units, according to data jointly released by HUD and the U.S. Commerce Department today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=15054 D0037F77-0342-42B6-81C2-0717FB841437 Fri, 24 Feb 2012 10:27:56 -0800 Existing-home sales rose in January, marking three gains in the past four months, while inventories continued to improve, according to the National Association of Realtors. http://www.realtor.org/press_room/news_releases/2012/02/ehs_jan D468BC65-A284-4A3E-A847-5E05E437271F Fri, 24 Feb 2012 10:27:10 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.95 percent with an average 0.8 point for the week ending February 23, 2012, up from last week when it also averaged 3.87 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=122430 D0B1C93F-CCA6-488B-9E50-8332305F29EE Fri, 24 Feb 2012 10:25:22 -0800 The MBA reports the Refinance Index decreased 4.8 percent from the previous week. The seasonally adjusted Purchase Index decreased 2.9 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/79930.htm D3FBD3F2-BB1F-43ED-AC39-2B7348AA28F8 Fri, 24 Feb 2012 10:20:43 -0800 The DOL reports in the week ending February 18, the advance figure for seasonally adjusted initial claims was 351,000, unchanged from the previous week's revised figure of 351,000. http://www.calculatedriskblog.com/2012/02/weekly-initial-unemployment-claims_23.html B295D024-1292-46D2-B527-962E3A3B9A81 Fri, 24 Feb 2012 10:19:28 -0800 LPS reported that the percent (and number) of loans delinquent declined in January from December, but that the percent (and number) of loans in the foreclosure process increased slightly. http://www.calculatedriskblog.com/2012/02/lps-number-of-delinquent-mortgage-loans.html ED8FD478-3496-460C-BA87-6C02A0C399AE Fri, 24 Feb 2012 10:18:13 -0800 An estimated 28,111 new and resale houses and condos were sold statewide last month. That was down 25.5 percent from 37,734 in December, and up 1.5 percent from 27,706 for January 2011. http://www.dqnews.com/Articles/2012/News/California/RRCA120216.aspx D97064A4-47EF-4CFC-A3E0-CEE07099975D Fri, 24 Feb 2012 10:08:57 -0800 30-year fixed-rate mortgage averaged 3.87 percent with an average 0.8 point for the week ending February 16, 2012, matching last week when it also averaged 3.87 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=121669 108F9CBF-B5AA-49E0-B583-C6D36716EE8A Thu, 16 Feb 2012 08:59:52 -0800 The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 7.58 percent as of the end of the fourth quarter of 2011 according to the Mortgage Bankers Association’s National Delinquency Survey. http://www.mortgagebankers.org/NewsandMedia/PressCenter/79827.htm D2C0C621-B3E6-4ADF-9F81-18574396E502 Thu, 16 Feb 2012 08:57:38 -0800 Construction of single-family homes cooled slightly in January, after surging in the final month last year. But a rise in permits suggests builders are growing more confident that more buyers are ready to come off the sidelines. http://www.cnbc.com/id/46411437 BE2AEEC6-BCB2-4C73-9BF7-FF3D7CCA3A29 Thu, 16 Feb 2012 08:50:13 -0800 A payroll tax cut for 160 million Americans, set to expire at the end of this month, would be extended through December under a bipartisan deal announced early on Thursday by U.S. congressional leaders. http://www.cnbc.com/id/46409729 E9A0F523-1B72-463A-870A-6583323D7BCB Thu, 16 Feb 2012 07:38:32 -0800 The DOL reports in the week ending February 11, the advance figure for seasonally adjusted initial claims was 348,000, a decrease of 13,000 from the previous week's revised figure of 361,000. http://www.calculatedriskblog.com/2012/02/weekly-initial-unemployment-claims_16.html 81878010-BACB-4EB5-BE8A-6F6A7BAFB48A Thu, 16 Feb 2012 07:37:41 -0800 DataQuick reports this morning that Orange County’s median home selling price in January fell below $400,000 for the first time in 33 months. http://lansner.ocregister.com/2012/02/15/o-c-home-prices-at-33-month-low/158640/ 6A03A03E-D9B3-4FE8-921C-2FC0185CB254 Thu, 16 Feb 2012 07:36:56 -0800 The Southland housing market started 2012 with slightly higher sales and slightly lower prices despite record-low mortgage interest rates. http://www.dqnews.com/Articles/2012/News/California/Southern-CA/RRSCA120215.aspx 9E4A821C-CA8F-4BC3-8956-B2A13C56EC4D Thu, 16 Feb 2012 07:35:59 -0800 Citigroup Inc. is paying $158 million to settle accusations that it took advantage of a federal mortgage insurance program. http://www.latimes.com/business/money/la-fi-mo-citi-settlement-20120215,0,1477531.story?track=rss A9D497F7-92AC-4262-AFBE-5C5CBCA63DAD Thu, 16 Feb 2012 07:32:34 -0800 Mom and pop investors are snapping up homes and condominiums to rent out all over the country. They're capitalizing on a confluence of events: depressed home prices, rising rents and strong rental demand. http://www.usatoday.com/money/economy/housing/story/2012-02-09/landlord-investors/53098048/1 A97249B4-DE68-4804-9D6E-F739672DCD2E Thu, 16 Feb 2012 07:31:18 -0800 The chief regulator and conservator of Fannie Mae and Freddie Mac is adamantly opposed to principal forgiveness, a key element of the foreclosure settlement. http://www.latimes.com/business/realestate/la-fi-hiltzik-20120214,0,7984008.column A0B902CB-18B8-41E1-B43B-6B101A08BBF9 Thu, 16 Feb 2012 07:29:24 -0800 FHA’s SF REO inventory plunged to 32,170 at the end of December - the lowest REO property count since December 2007, and 47% lower than at the end of December 2010. http://www.calculatedriskblog.com/2012/02/fha-reo-inventory-declines-to-four-year.html 9BC047C7-A63B-447D-AC0A-142B58EA6CDF Wed, 15 Feb 2012 08:42:16 -0800 Chase on Wednesday reported an increase in the rate its customers defaulted on their credit card balances in January but said late payments continued to decline. http://finance.yahoo.com/news/Chase-credit-card-default-apf-2371688220.html?x=0 C9760E66-3B6E-4B6E-BFFE-A9407F84A599 Wed, 15 Feb 2012 08:40:32 -0800 Home builder confidence in the market for new single-family homes increased for the fifth consecutive month in February, rising from 25 to 29 on the NAHB/Wells Fargo Housing Market Index released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=15031 72E7B724-275C-461A-8392-F00AB4C3BAC2 Wed, 15 Feb 2012 08:37:22 -0800 The Mortgage Bankers Association reports the Refinance Index increased 0.8 percent from the previous week to its highest level since August 8, 2011. The seasonally adjusted Purchase Index decreased 8.4 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/79761.htm 56CD026A-746D-44A8-894C-1F30226608F4 Wed, 15 Feb 2012 08:35:57 -0800 Loan balances could be reduced on more than 24,000 Orange County mortgages under the landmark multi-state foreclosure settlement reached last week with major banks, a state spokeswoman said. http://lansner.ocregister.com/2012/02/14/deal-will-cut-o-c-mortgages-by-668-million/158569/ 2D0127D3-2416-4BC3-B0E2-56DEBB70B9FC Wed, 15 Feb 2012 08:33:54 -0800 Credit data giant TransUnion said serious mortgage delinquencies, loans on which borrowers were at least 60 days behind on payments, rose to 6.01% in the fourth quarter from 5.88% in the previous quarter. http://www.latimes.com/business/money/la-fi-mo-mortgage-delinquencies-20120214,0,5100457.story?track=rss 11D0F1DE-9E9C-4FB9-B12B-2078506E50E4 Wed, 15 Feb 2012 08:29:19 -0800 The Federal Housing Administration will exhaust its reserves over the coming year, according to budget projections released Monday, which would require a Treasury infusion for the first time in its 78-year history. http://online.wsj.com/article/SB10001424052970204795304577221222265037002.html?mod=WSJ_RealEstate_LeftTopNews CF9277D0-6579-4A51-8F46-10835F59FFF5 Wed, 15 Feb 2012 08:28:24 -0800 A new regulation ensures the core housing programs of the Department of Housing and Urban Development are open to all eligible persons, regardless of sexual orientation or gender identity. http://housingwire.com/article/hud-regulation-gives-lgbt-community-equal-access-housing 8E134E2E-10F5-43D7-9F79-96FB9D84DFA9 Wed, 15 Feb 2012 08:25:59 -0800 U.S. retail sales rose less than expected in January as consumers cut back on car purchases and did less online shopping, while import prices, particularly in energy, pushed higher. http://www.cnbc.com/id/46380390 3C4273E6-72F5-4B52-8AC8-029E65C6D9C8 Tue, 14 Feb 2012 07:42:15 -0800 Rising just one tenth of one percent in January, the Small-Business Optimism Index settled at 93.9, a slight increase from the December 2011 reading, according to the National Federation of Independent Business. http://www.calculatedriskblog.com/2012/02/nfib-small-business-optimism-index.html 5FC5FD27-CE19-46BD-ACCD-D2428FDED35E Tue, 14 Feb 2012 07:40:08 -0800 If you look deep inside the 2013 federal budget, it looks as if the Federal Housing Administration is asking for a cash bailout for the first time its 78-year history. http://www.cnbc.com/id/46373217 B1BAAE35-E9F5-47C3-A3D5-64D1B3DA3A8D Tue, 14 Feb 2012 07:38:56 -0800 President Barack Obama's proposed federal budget is more campaign commercial than governing document. http://www.mcclatchydc.com/2012/02/13/138769/obamas-budget-frames-election.html 9A559E98-69C3-4417-B7D6-77C8E2977391 Tue, 14 Feb 2012 07:37:41 -0800 A $25 billion mortgage settlement announced between major banks and state and government officials is supposed to bring aid to troubled home owners, but it could also bring a wave of new foreclosures, CNNMoney reports. http://realtormag.realtor.org/daily-news/2012/02/13/could-mortgage-deal-lead-jump-in-foreclosures 3309641B-1FB3-4F39-8B9F-72018380C466 Tue, 14 Feb 2012 07:34:25 -0800 As the leading advocate for housing and homeownership, NAR is strongly opposed to elements of President Obama’s budget proposal that would limit itemized deductions, including the mortgage interest deduction, for thousands of families. http://www.realtor.org/press_room/news_releases/2012/02/budget_proposal 23825FC3-07D7-4A77-AFAC-2D3E96C2831F Tue, 14 Feb 2012 07:30:33 -0800 Here’s a summary of what’s noted as a "new listing" priced $5 million or more in the week through Feb. 13, according to the OC Register. http://lansner.ocregister.com/2012/02/13/8-mansions-hit-o-c-market/158532/ 8809AC2C-B658-4F5C-8767-EA83F8DA3CFE Tue, 14 Feb 2012 07:27:15 -0800 In San Diego County, the share of total sales that were paid for in cash rose from 26 percent in 2010 to roughly 28 percent in 2011. Almost 26 percent of total homes sold were bought by investors, up from nearly 23 percent in 2010. http://www.utsandiego.com/news/2012/feb/13/2011-year-review-more-cash-buyers-home-investors/ 82D1074B-A0A5-49F1-B25B-0B8799B1102C Tue, 14 Feb 2012 07:24:56 -0800 The Consumer Financial Protection Bureau this week will unveil a prototype for a new monthly mortgage statement for consumers designed to clearly show important information from their servicer. http://www.latimes.com/business/money/la-fi-mo-mortgage-statement-20120213,0,5870776.story EE951376-985A-4E16-AC84-8DAAB191B5CE Tue, 14 Feb 2012 07:21:32 -0800 This data might be helpful in determining when the market is improving. So far it looks like REO sales have declined, partially offset by an increase in short sales, and a small decline in the total percent of distressed sales. http://www.calculatedriskblog.com/2012/02/distressed-house-sales-using-sacramento.html 84074DCA-77DF-4F36-A708-D62E428BA730 Mon, 13 Feb 2012 08:22:13 -0800 Obama’s Election-Year Budget to Target Rich - President Barack Obama will propose an election-year budget on Monday that raises taxes on millionaires. http://www.cnbc.com/id/46364643 56E7EBC8-9D16-4F22-89CD-299E5E8AC059 Mon, 13 Feb 2012 07:56:21 -0800 A settlement announced this week among state and federal officials and the nation’s five largest banks is the largest joint state-federal settlement in history against an industry. So what does the settlement mean for home owners? http://realtormag.realtor.org/daily-news/2012/02/10/what-you-need-know-about-mortgage-settlement 6F8213C2-FDED-41AE-966D-3CDE8B2FE74E Mon, 13 Feb 2012 07:37:53 -0800 Restraints on credit for home buyers and home builders alike continue to impede the housing and economic recovery, Federal Reserve Chairman Ben Bernanke said today in an address to the National Association of Home Builders Board of Directors in Orlando. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=15003 5143C100-68EF-4CBF-B619-F1AB839C626C Mon, 13 Feb 2012 07:35:50 -0800 The latest hot issue in the mortgage markets has been the 10 basis point addition to G-fees mandated by the payroll tax cut passed late last year which is, in effect, a hidden tax on mortgages. http://www.mortgagenewsdaily.com/channels/secondary_markets/02092012-g-fee-add-on.aspx 658C308F-2E9D-41CC-A686-CF723E1BCD73 Mon, 13 Feb 2012 07:34:04 -0800 Orange County's housing market started the year quickly. Demand, the number of new pending sales over the prior month, is up 13 percent vs. 2011. http://www.ocregister.com/articles/months-339801-market-homes.html 3298247E-AFD4-4494-AC80-3E45EBB70710 Mon, 13 Feb 2012 07:28:57 -0800 Industry experts say they are seeing more and more borrowers opt for fixed-rate loans with terms other than the standard 30 or 15 years, especially when it comes to refinancings. http://www.nytimes.com/2012/02/12/realestate/mortgages-loan-terms-made-to-order.html?_r=2&ref=realestate 8A7E50C6-443A-4AF5-AA10-7D86707193CE Mon, 13 Feb 2012 07:21:49 -0800 Americans turned less optimistic about the economy in early February on worries about falling income even as their outlook on the jobs market rose to a record high, a survey released on Friday showed. http://www.cnbc.com/id/46341039 17863081-98C6-46A8-969A-CF6AA8883AD4 Fri, 10 Feb 2012 07:37:15 -0800 Most of the relief will go to those who owe far more than their homes are worth, known as being underwater on the loans. http://money.cnn.com/2012/02/09/news/economy/mortgage_settlement/index.htm?hpt=hp_t1 48A9B8C7-004C-4323-9531-E86A6F2BF7DF Fri, 10 Feb 2012 07:19:09 -0800 Troubled underwater homeowners in California can expect $12 billion in principal write-downs, including through short sales, over the next three years, according to the state attorney general's office. http://www.latimes.com/business/money/la-fi-mo-california-settlement-20120209,0,3434470.story?track=rss 8F0CCD82-0FC4-4BD0-9966-293F8321CC7E Fri, 10 Feb 2012 07:24:14 -0800 Orange County homeowners stand to get an estimated $1.1 billion from the multi-state foreclosure settlement reached between state attorneys general and five leading banks, the California Attorney General's Office reported Thursday. http://www.ocregister.com/articles/settlement-339672-billion-foreclosure.html DCA3E66C-ED00-43DD-8EE0-F8BB2BF08B95 Fri, 10 Feb 2012 07:28:22 -0800 The $25 billion settlement with banks over foreclosure abuses may trigger a wave of home seizures, inflicting short-term pain on delinquent U.S. borrowers while making a long-term housing recovery more likely. http://www.pe.com/business/business-headlines/20120209-real-estate-deal-to-spur-repos-help-heal-market.ece 3AEC43BC-9255-4156-8A9E-0F7E9A61A208 Fri, 10 Feb 2012 07:26:13 -0800 The process by which banks pick homeowners to offer incentives and determine the amounts is unknown and sometimes seems arbitrary, real estate experts said, other than that the recipients are people who are behind on their payments and whose homes are underwater. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/02/09/MNMS1N4S85.DTL&tsp=1 4012916C-515E-4B76-A25E-0B9A074232B0 Fri, 10 Feb 2012 07:17:04 -0800 Homeowners who kept up on their payments would lose while those who fell behind would win under an apparent deal between big banks and state governments, banking analyst Dick Bove said. http://www.cnbc.com/id/46325658 F7B6401C-D66F-4DBC-BF2E-A85AA5FAB1C1 Thu, 9 Feb 2012 08:34:18 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.87 percent with an average 0.8 point for the week ending February 9, 2012, matching last week when it also averaged 3.87 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=121370 8ED4F5EB-02FF-4A82-A3C0-0034749C348E Thu, 9 Feb 2012 08:32:03 -0800 Foreclosures decreased by 8.4 percent -- or 130,000 -- in 2011, according to research by CoreLogic. http://realtormag.realtor.org/daily-news/2012/02/09/foreclosure-crisis-finally-fading 0E7C565B-122D-4C1C-B4B6-2BAE26B223EB Thu, 9 Feb 2012 08:29:49 -0800 Housing affordability conditions improved in most metropolitan areas from softer existing-home prices and record-low mortgage interest rates in the fourth quarter, with rising sales and lower inventory creating more balanced conditions, according to the latest quarterly report by the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2012/02/metroprice_q4 CB1044B2-78DB-4FAE-8771-A94DAAB171CD Thu, 9 Feb 2012 08:28:25 -0800 Despite the beating that home prices have taken over the last five years, Americans are still optimistic about their own housing situation, a new poll shows. http://www.marketwatch.com/story/americans-still-sold-on-homeownership-2012-02-08 EC675814-3820-4D10-9086-251E061B570E Thu, 9 Feb 2012 08:25:45 -0800 Bank-owned homes and other foreclosure resales made up a smaller proportion of Orange County transactions in 2011 than in prior years, a sign that distressed homes are less of a drag on the local housing market. http://lansner.ocregister.com/2012/02/08/foreclosure-deals-harders-to-find/157419/ 3F868030-7DC2-43C2-9466-74D714D53AC8 Thu, 9 Feb 2012 08:23:54 -0800 The DOL reports in the week ending February 4, the advance figure for seasonally adjusted initial claims was 358,000, a decrease of 15,000 from the previous week's revised figure of 373,000. http://www.calculatedriskblog.com/2012/02/weekly-initial-unemployment-claims_09.html DFF0385D-E38E-4BFA-B0B4-EB558670846D Thu, 9 Feb 2012 06:13:44 -0800 Home Value Declines Pick Up in Fourth Quarter, But Zillow Forecasts Smaller Declines in 2012. http://www.calculatedriskblog.com/2012/02/zillow-house-prices-declined-47-in-2011.html 0FE715B1-7C61-4F3A-ABE0-33671392BF36 Thu, 9 Feb 2012 06:10:12 -0800 New York and California have agreed to sign the proposed settlement between U.S. states and the nation's biggest mortgage lenders over foreclosure abuses, according to a source close to the negotiations. http://finance.yahoo.com/news/Source-NY-California-sign-apf-1609769196.html?x=0 90DE4574-D5DC-44D4-8F20-073213FE1F9E Wed, 8 Feb 2012 18:30:11 -0800 Government intervention has prevented the real estate market from healing, with the commercial sector hit especially hard, investor Sam Zell said. http://www.cnbc.com/id/46308436 60017C57-E52B-44E4-9FC2-623B8AF40725 Wed, 8 Feb 2012 07:37:35 -0800 The MBA reports the Refinance Index increased 9.4 percent from the previous week. The seasonally adjusted Purchase Index increased 0.1 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/79667.htm FCBC3D17-94DB-42A1-8736-D2D4CD98C259 Wed, 8 Feb 2012 07:34:57 -0800 Goldman Sachs economist Sven Jari Stehn looked at the population revisions from the 2010 Census and argued that there is "No Labor Force Participation Rebound in Sight". http://www.calculatedriskblog.com/2012/02/goldman-no-labor-force-participation.html 8D0C2200-19ED-4E65-9D17-47F1C0B88BCB Wed, 8 Feb 2012 07:33:12 -0800 Losing your home can be devastating to your credit, not to mention your psyche, but you can buy again within as few as three years after a foreclosure or short sale. http://realtytimes.com/rtpages/20120208_foreclosure.htm 8869E7B8-AB7D-4A32-9761-1546FA998438 Wed, 8 Feb 2012 07:30:02 -0800 Irvine-based homebuilding company Standard Pacific Homes reported this week its first profitable quarter in more than a year at the end of 2011, spurred by improved sales and higher home prices. http://lansner.ocregister.com/2012/02/07/o-c-homebuilder-reports-return-to-profitability/158254/ D59FC223-CD7D-4607-BA13-D34D3DC66713 Wed, 8 Feb 2012 07:27:17 -0800 Orange County’s housing market speed quickened 21.9% in the past two weeks and sped up 34.7% in a year. http://lansner.ocregister.com/2012/02/07/demand-for-o-c-homes-surges-24-in-2-weeks/158243/ 226377B4-2B4F-4196-834E-5A4028B544AD Wed, 8 Feb 2012 07:23:44 -0800 A debate over listing data continues between real estate brokers and websites like Zillow and Trulia as the San Diego region's Multiple Listing Service seeks to control content to outside parties. http://www.utsandiego.com/news/2012/feb/07/san-diego-brokers-turn-tables-zillow-trulia/ A282EA30-8941-4160-BA0D-82580980C740 Wed, 8 Feb 2012 07:21:25 -0800 The consumer outlook for U.S. home prices improved again in January, extending a recent upward trend in housing market sentiment, according to mortgage market firm Fannie Mae. http://blogs.wsj.com/developments/2012/02/07/fannie-mae-outlook-for-home-prices-rises-again/ DDD05680-19A9-4B68-BED9-9913BA2C3FFD Wed, 8 Feb 2012 07:16:31 -0800 After more than a year of negotiations, attorneys general from more than 40 states signed on to a proposed settlement agreement with five of the nation's largest mortgage servicers over "robo-signing" foreclosure processing abuses, according to the lead negotiator, Iowa Attorney General Tom Miller. http://www.cnbc.com/id/46292003 40742A77-EA58-452B-82F7-DEFFB5192AD4 Tue, 7 Feb 2012 08:02:38 -0800 There were 3.4 million job openings on the last business day of December, up from 3.1 million in November, the U.S. Bureau of Labor Statistics reported today. http://www.calculatedriskblog.com/2012/02/bls-job-openings-increased-in-december.html D0675FE9-C725-4FA0-B909-1DF0B3CCAD2B Tue, 7 Feb 2012 07:57:57 -0800 The spring season usually brings an increase in buying and selling to the real estate market, and housing experts are mostly optimistic that this spring will be even better than recent years. http://realtormag.realtor.org/daily-news/2012/02/06/will-real-estate-market-heat-up-spring 9EC7B124-14F8-4769-896F-434E72CAC71E Tue, 7 Feb 2012 07:53:34 -0800 Builder confidence in the 55+ housing market for single-family homes rose four points to 18 compared to the same period a year ago, according to the latest National Association of Home Builders’ 55+ Housing Market Index released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14968 770AF1D8-F806-4C00-89BF-D7CCF3EDC493 Tue, 7 Feb 2012 07:51:38 -0800 According to the deptofnumbers.com for monthly inventory (54 metro areas), listed inventory is probably back to early 2005 levels. Unfortunately the deptofnumbers only started tracking inventory in April 2006. http://www.calculatedriskblog.com/2012/02/existing-home-inventory-declines-21.html B8789D5E-307A-42EF-896C-349B7EA729B1 Tue, 7 Feb 2012 07:49:46 -0800 Commercial/multifamily originations during the fourth quarter of 2011 were up 13 percent over the fourth quarter of 2010, but fell 7 percent from the third quarter of 2011, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. http://www.mortgagebankers.org/NewsandMedia/PressCenter/79635.htm 47310960-0E11-4FA0-8F3D-CDB76D4B2A02 Tue, 7 Feb 2012 07:48:35 -0800 Some big home-appliance manufacturers will be conspicuous by their absence from the International Builders’ Show this week, a sign that the new-home market is still weak, despite some recent improvement in employment and other economic indicators. http://www.marketwatch.com/story/big-suppliers-absent-from-builders-show-2012-02-07 F4D45785-D1C4-43A4-AA34-20251133BC54 Tue, 7 Feb 2012 07:46:36 -0800 Homebuilder Taylor Morrison bought 132 lots in San Juan Capistrano from Newport Beach-based Pacific Communities, broker The Hoffman Co. announced. http://lansner.ocregister.com/2012/02/06/homebuilder-buys-132-san-juan-lots/158210/ 08E22FC8-B950-4829-83CA-2CD7956CEE75 Tue, 7 Feb 2012 07:44:02 -0800 The biggest remaining holdout, California, has returned to the negotiating table after a four-month absence, a change of heart that could increase the pot for mortgage relief nationwide to $25 billion from $19 billion. http://www.cnbc.com/id/46275718 A04C83EC-D303-4659-B5B1-9D528100E01B Mon, 6 Feb 2012 10:44:15 -0800 First there are two bottoms for housing. The first is for new home sales, housing starts and residential investment. The second bottom is for prices. Sometimes these bottoms can happen years apart. http://www.calculatedriskblog.com/2012/02/housing-bottom-is-here.html EF6E3B0B-EAF0-469A-B3D5-D2CA5C0C06DE Mon, 6 Feb 2012 10:41:40 -0800 The list of housing markets showing measurable improvement expanded by 29 metros in February to include a total of 98 entries on the National Association of Home Builders/First American Improving Markets Index (IMI), released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14965 50570170-9632-49E8-B14E-2A301106BCC6 Mon, 6 Feb 2012 10:38:56 -0800 The Obama administration announced two new so called "bold" plans to shore up U.S. housing: one on the supply side of the equation; the other on the demand side. One will not pass and the other is questionable. http://www.ocregister.com/articles/new-338591-refinancing-mortgage.html F787F0BF-A8AA-410D-9345-7EA5433B350B Mon, 6 Feb 2012 10:28:09 -0800 Rep. Barney Frank and two other House Financial Services Committee Democrats on Monday pressed Edward DeMarco, the regulator of seized housing finance giants Fannie Mae and Freddie Mac, to write-down the principal on mortgages of underwater homes. http://www.latimes.com/business/money/la-fi-mo-principal-writedowns-20120206,0,6192746.story?track=rss 59949066-5975-4090-9180-C849B775C3DF Mon, 6 Feb 2012 10:25:20 -0800 Fannie Mae and Freddie Mac, the mortgage giants under government conservatorship, together owned 182,212 foreclosed properties as of the end of September. http://www.cnbc.com/id/46238350 50845D24-CDBD-4AB8-B7B1-868D97720EB0 Mon, 6 Feb 2012 10:20:04 -0800 U.S. small business hiring was flat in January, a poll released on Friday showed, slightly better than the previous month's reading but still far from levels consistent with strong employment growth. http://www.cnbc.com/id/46186264 99148EDF-8D41-4EBB-A918-C2A21B78D6BA Fri, 3 Feb 2012 07:42:58 -0800 The pace of job creation surged in January, with the US economy generating 243,000 new positions while the unemployment rate dropped to 8.3 percent, according to government data released Friday. http://www.cnbc.com/id/46250775 6034B31F-2768-4500-8F2C-6C66502E57E0 Fri, 3 Feb 2012 07:30:14 -0800 More parents are taking on the role as mortgage lenders to help their kids take advantage of low home prices and record-low mortgage rates. http://realtormag.realtor.org/daily-news/2012/02/02/more-parents-act-kids-mortgage-lender 5CEF9576-6CB6-4ED4-B7B4-00CCF18C3EB1 Fri, 3 Feb 2012 07:26:23 -0800 Homeowners who refinanced their homes during the fourth quarter of 2011 either refinanced for about the same amount or actually brought cash to the table according Freddie Mac. http://www.mortgagenewsdaily.com/02022012_refinancing.asp 5DF0C464-177D-4F43-8EC9-1E509D0EF3BE Fri, 3 Feb 2012 07:22:58 -0800 San Diego county treasurer-tax collector is scheduled to sell off more than 200 properties belonging to people who have been in default for five years on Feb. 24. http://www.utsandiego.com/news/2012/feb/03/seeking-home-deal-county-holding-auction/ 60E51D8E-4D0A-40D3-A76E-DD5D662F036F Fri, 3 Feb 2012 07:19:31 -0800 Fannie Mae mortgage servicers can complete short sales and deeds in lieu of foreclosure without getting separate approval from the now bankrupt mortgage insurer The PMI Group, a change that's expected to further reduce barriers to short sales. http://housingwire.com/article/pmi-group-latest-mortgage-insurer-give-fannie-mae-short-sale-authority FCF0C52E-03C5-4A03-BA89-C26817DBF256 Fri, 3 Feb 2012 07:13:19 -0800 The CoreLogic HPI shows that, including distressed sales, home prices in the U.S. decreased 4.7 percent in 2011 compared with December 2010. http://www.calculatedriskblog.com/2012/02/corelogic-house-price-index-declined-14.html 01BD78C5-4417-4E88-A394-0AE5E8EC98FB Fri, 3 Feb 2012 07:06:41 -0800 ng federal budget deficits are posing a significant threat to the U.S. economy and are likely to cause a crisis if not brought under control, Federal Reserve Chairman Ben Bernanke told Congress Thursday. http://www.cnbc.com/id/46236869 A37510A8-0FEE-45A1-84E1-0EC0D3A04438 Thu, 2 Feb 2012 08:08:02 -0800 Freddie Mac today announced 30-year fixed-rate mortgage averaged 3.87 percent with an average 0.8 point for the week ending February 2, 2012, down from last week when it averaged 3.98 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=118736 B4D2FA84-D777-4153-804E-D8EF1E39B3AA Thu, 2 Feb 2012 08:03:44 -0800 The DOL reports for the week ending January 28, the advance figure for seasonally adjusted initial claims was 367,000, a decrease of 12,000 from the previous week's revised figure of 379,000. http://www.calculatedriskblog.com/2012/02/weekly-initial-unemployment-claims.html 7B82D455-4548-43CC-BB16-9B050275100E Thu, 2 Feb 2012 08:01:07 -0800 Nearly one in three small-business owners has borrowed against the equity in his or her home, or used the home as collateral for a loan to fund the business, according to a 2009 survey conducted by Gallup for the National Federation of Independent Business. http://online.wsj.com/article/SB10001424052970203686204577112761171475078.html?mod=WSJ_RealEstate_LeftTopNews FF0BDF7E-70EE-409B-B75C-B53366024DA5 Thu, 2 Feb 2012 08:00:02 -0800 The home ownership rate took another dip in the fourth quarter of 2011, falling for the seventh year in a row as fewer Americans own their homes. http://realtormag.realtor.org/daily-news/2012/02/01/home-ownership-rate-drops-1997-levels 0F1056B0-83A5-4323-902C-489D40F92C60 Thu, 2 Feb 2012 07:56:28 -0800 NAR commends President Obama for pledging to assist homeowners and the struggling housing market, because restoring the health of the housing market is critical for the nation’s economic recovery. http://www.realtor.org/press_room/news_releases/2012/01/obama_housing EA2F3930-961E-40A7-9FBB-D499B7104A58 Thu, 2 Feb 2012 07:55:12 -0800 David H. Stevens, MBA President and CEO said that lack of financing can be traced to a single factor, market uncertainty. http://www.mortgagenewsdaily.com/02012012_mba_state_of_the_industry.asp 82F3F212-661A-4052-B36F-EB849A357EF9 Thu, 2 Feb 2012 07:54:01 -0800 Taking sales volume in consideration, home-sale pricing was down in ZIPs representing 90% of the Orange County market. http://lansner.ocregister.com/2012/02/02/home-selling-prices-drop-in-90-of-o-c/158065/ 71EB19F8-F554-49A8-92C4-637BD00E7899 Thu, 2 Feb 2012 07:48:38 -0800 San Diego timeshare owners, beware of pushy scammers who promise without solicitation to sell or rent your properties in a quick amount of time and ask for upfront payment for services. http://www.utsandiego.com/news/2012/feb/02/scammers-prey-san-diego-timeshare-owners/ F403FE4C-8261-4F86-BEC8-A92FAE0DA5B3 Thu, 2 Feb 2012 07:46:25 -0800 The proposal would allow some homeowners a chance to refinance their loans, but critics call it a bailout. http://www.pe.com/local-news/politics/ben-goad-headlines/20120202-housing-obama-rolls-out-foreclosure-relief-plan.ece A2E4D830-27A1-4701-BB0A-E4A2E24C24AC Thu, 2 Feb 2012 07:44:47 -0800 The U.S. Census Bureau of the Department of Commerce announced today that construction spending during December 2011 was estimated at a seasonally adjusted annual rate of $816.4 billion, 1.5 percent above the revised November estimate of $804.0 billion. http://www.calculatedriskblog.com/2012/02/construction-spending-increased-15-in.html 5F0522AB-45A5-49BE-8CDC-A9BFA2CFB08E Thu, 2 Feb 2012 07:38:51 -0800 The regulator for mortgage finance companies Fannie Mae and Freddie Mac said Wednesday investors could now sign up to pre-qualify to bid on foreclosed properties held by the government-controlled firms. http://www.cnbc.com/id/46220167 02DAC9DF-758F-44AC-8F6E-3AF8341270EE Wed, 1 Feb 2012 07:42:29 -0800 Tuesday's report that prices continue to slump has tempered hopes that the U.S. housing market is finally turning. But right now, the connection between what the S&P/Case-Shiller index says and what is actually going on with housing may be lukewarm at best. http://online.wsj.com/article/SB10001424052970203920204577195332016018286.html?mod=WSJ_RealEstate_LeftTopNews 40E7948C-482A-4B60-957F-F1DB2629ABFF Wed, 1 Feb 2012 07:40:49 -0800 California needs to come up with more than $3 billion to avoid burning through its cash by March, according to the state controller, who urged borrowing and delaying some payments. http://www.cnbc.com/id/46212105 5047A5E1-2A5D-4852-B635-140565C3AB91 Wed, 1 Feb 2012 07:35:39 -0800 The private sector created 170,000 jobs in January, boosted again by a surge in service-sector employment, according a report from ADP and Macroeconomic Advisors. http://www.cnbc.com/id/46218232 F9134505-EF19-4B14-834F-D097E69C32C2 Wed, 1 Feb 2012 07:34:29 -0800 The MBA Refinance Index decreased 3.6 percent from the previous week. The Purchase Index decreased 1.7 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/79574.htm 4AB4B347-7DA9-4F65-B46A-C6E1FDD15FF7 Wed, 1 Feb 2012 07:31:30 -0800 Ally Financial Inc. has concluded that it will record a charge of approximately $270 million in the fourth quarter of 2011 for penalties expected to be imposed by certain of our regulators and other governmental agencies in connection with foreclosure related matters. http://www.calculatedriskblog.com/2012/01/mortgage-settlement-ally-takes-270.html 5DC15B4B-80C4-40FA-AA39-D25D03FDCF87 Wed, 1 Feb 2012 07:28:29 -0800 By Thursday, a large CAT excavator will begin tearing up the packed, dry grassland at the north end of the former El Toro Marine Air Station. http://lansner.ocregister.com/2012/01/31/earthmovers-readied-for-first-great-park-homes/157962/ AE0A0331-F78E-46F0-A755-D3ECA2936F17 Wed, 1 Feb 2012 07:26:13 -0800 After announcing during his State of the Union address a new government refinance program for, "responsible" but "underwater" borrowers with privately held mortgages, President Obama is expected to detail the plan today. http://www.cnbc.com/id/46218849 F1FC71B2-9869-4820-B389-03293A60EB07 Wed, 1 Feb 2012 07:23:02 -0800 In 2010 and 2011, mortgage giant Freddie Mac invested billions of dollars on bets that homeowners with high-interest mortgages would not be able to refinance at today's lower interest rates. http://www.inman.com/news/2012/01/30/report-freddie-mac-bets-against-homeowner-refinancings F9F7CFD1-BF0D-4F85-930C-C671B3156DFA Wed, 1 Feb 2012 07:20:33 -0800 Fannie Mae reported that the Single-Family Serious Delinquency rate declined in December to 3.91%. Freddie Mac reported that the Single-Family serious delinquency rate increased to 3.58% in December. http://www.calculatedriskblog.com/2012/01/fannie-mae-serious-delinquency-rate.html 2FD91194-D130-4FBD-9AD1-E1A829D29E26 Wed, 1 Feb 2012 07:15:19 -0800