Latest Real Estate News http://www.insidetract.com http://blogs.law.harvard.edu/tech/rss en-us Thu, 16 Feb 2012 10:07:50 -0800 info@insidetract.com Thu, 16 Feb 2012 08:59:52 -0800 5 larrystimson@verizon.net FeedForAll v2.0 (2.0.2.9) http://www.feedforall.com 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 Consumer confidence retreated in January after two straight months of big gains, a private research group said Tuesday. http://www.cnbc.com/id/46203320 869C87C4-9FD1-4DAB-97BF-96BA01003610 Tue, 31 Jan 2012 08:38:43 -0800 Just 6 percent of Orange County’s retail space was empty in the fourth quarter - almost half the national vacancy rate of 11 percent, says commercial real estate trackers at Reis Inc. http://retail.ocregister.com/2012/01/30/o-c-5th-fewest-empty-stores-in-u-s/69019/ 071B95DB-DA9C-47FC-B58B-6B73E7E6007C Tue, 31 Jan 2012 08:10:32 -0800 Homes sold through the broker-run multiple listing service generated $13.8 billion in 2011 - 10.8% less than in 2010, according to figures from the California Regional Multiple Listing Service. http://lansner.ocregister.com/2012/01/30/home-commissions-fell-100-million-in-11/157818/ C745F74C-9BBE-460C-8EDC-2BEB0B31D212 Tue, 31 Jan 2012 08:08:13 -0800 The evidence for a recovery is compelling, but optimists should actually be watching rising interest rates. http://finance.fortune.cnn.com/2012/01/30/housing-recovery/?iid=HP_Highlight FE0372DF-2816-4F7E-A12B-3FE624ADE515 Tue, 31 Jan 2012 08:04:42 -0800 U.S. home prices fell for a third straight month in nearly all cities tracked by a major index. The declines show that most homeowners are not reaping the benefits from some signs of an improving housing market. http://www.cnbc.com/id/46202598 74A52825-E0A9-455C-B820-99DC9C0F3EF8 Tue, 31 Jan 2012 08:03:53 -0800 President Barack Obama last week outlined a forthcoming plan to allow more homeowners who are current on their mortgages to refinance at today’s low rates. http://blogs.wsj.com/developments/2012/01/30/why-a-new-refinance-program-faces-long-odds/?mod=WSJBlog&mod=WSJ_Real%20Estate_BLOGSDEVELOPMENTSFEED 4442485C-135F-49DD-B41C-A4FE4CA9A3F8 Tue, 31 Jan 2012 08:01:42 -0800 Overall, in the January survey, domestic banks reported that their lending standards had changed little and that they had experienced somewhat stronger loan demand, on net, over the past three months. http://www.calculatedriskblog.com/2012/01/fed-senior-loan-officer-survey-lending.html 993A3C0F-1FAE-48C3-BACE-3DC0604F78D9 Tue, 31 Jan 2012 07:59:39 -0800 Personal income increased $61.3 billion, or 0.5 percent in December, according to the Bureau of Economic Analysis. Personal consumption expenditures decreased $2.0 billion, or less than 0.1 percent. http://www.calculatedriskblog.com/2012/01/personal-income-increased-05-in.html ED82EF1C-C70C-4538-8873-F538A424BCEE Tue, 31 Jan 2012 07:57:58 -0800 Google, Microsoft and other companies are working together to combat email "phishing" scams. They've formed an organization to design a system to authenticate emails from legitimate senders and weed out scams. http://finance.yahoo.com/news/Tech-companies-team-combat-apf-4137388889.html?x=0 E586AC7E-38FF-482B-B418-0EBC5898286A Mon, 30 Jan 2012 08:40:32 -0800 Consumer spending was flat in December as households took advantage of the largest rise in income in nine months to boost their savings, setting the tone for a slowdown in demand early in 2012. http://www.cnbc.com/id/46188283 BC385E8D-E165-4287-AA91-4B6831548E13 Mon, 30 Jan 2012 08:34:46 -0800 ■The typical seller tenure in home from 2001 to 2008 was 6 years. In 2009, the median years the seller stayed in the home edged up to 7 years. In 2011, the typical seller sold their home after owning it after 9 years. http://economistsoutlook.blogs.realtor.org/2012/01/25/tenure-in-the-home-and-motivation-for-selling/ 343139B6-D759-4950-ADE0-A8AB276D71FD Mon, 30 Jan 2012 08:31:44 -0800 Many Americans say now is a good time to buy a home, thanks to record-low mortgage interest rates and bargain home prices that are boosting affordability. But is it a good time to sell a house? http://www.marketwatch.com/story/it-may-be-time-to-buy-but-is-it-time-to-sell-yet-2012-01-30 07CFDAD1-D63F-49A5-854E-1EDBC1E0F0C7 Mon, 30 Jan 2012 08:27:57 -0800 Homebuying in Seal Beach sped up 26% in two weeks as the city's level of distressed homes fro sale was Orange Count's lowest. http://www.ocregister.com/articles/homes-337929-sale-seal.html 969DA0ED-0217-4E10-9C05-3273CB97EB85 Mon, 30 Jan 2012 08:26:08 -0800 Nearly seven years after Lennar Corp. purchased the former El Toro Marine base from the U.S. Navy, the company’s management partner is about to start building roads, laying sewer lines and laying out home sites. http://lansner.ocregister.com/2012/01/29/questions-remain-about-great-park-funding/157742/ A7DAC291-4A74-41EB-8DBC-E03B501EA4E3 Mon, 30 Jan 2012 08:22:18 -0800 The Treasury Department will triple payments to mortgage investors for reducing borrower principal through an expanded Home Affordable Modification Program announced Friday. http://www.housingwire.com/2012/01/27/treasury-to-pay-investors-triple-for-hamp-principal-reductions 6EBE186C-F5AD-4338-BF52-7F581AD86137 Mon, 30 Jan 2012 08:18:31 -0800 Since the end of 2009, the quarterly relocation rate has averaged around 7.9%. That’s half the pre-recession rate of 15.7% and lower than the 13.2% of candidates willing to uproot during the recession. http://www.latimes.com/business/money/la-fi-mo-job-relocation-20120126,0,4586434.story 9C7612A1-6BAE-4CFD-9BF2-48BE72E0BBD6 Mon, 30 Jan 2012 08:15:05 -0800 The final January Reuters / University of Michigan consumer sentiment index increased to 75.0, up from the preliminary reading of 74.0, and up from the December reading of 69.9. http://www.calculatedriskblog.com/2012/01/consumer-sentiment-increases-in-january_27.html 243A6BCE-4B16-4148-A4F1-0B3ED856DB3E Fri, 27 Jan 2012 07:28:47 -0800 Tax relief on forgiven or cancelled debt to disappear at end of year. http://www.marketwatch.com/story/walking-away-from-home-may-cost-more-2012-01-27 11E78B6F-8477-454A-AE8F-F85258BA9E45 Fri, 27 Jan 2012 07:17:41 -0800 The trade organization says the compensation rules allow appraiser management companies, who are middlemen, to call the shots on how much appraisers get paid, leading to reduced wages for the same amount of work, or more, even though homeowners are paying the same, or sometimes more, for home appraisals. http://www.utsandiego.com/news/2012/jan/26/appraisers-say-feds-rule-has-hurt-their-pay-homeow/ A3567B6C-CE4A-4B32-945C-CFFB8345636F Fri, 27 Jan 2012 07:12:33 -0800 Two new initiatives from President Obama to address the foreclosure crisis - more help for struggling homeowners and aggressive investigations of financial firms - face significant hurdles as the nation's real estate troubles linger in a volatile election year. http://www.latimes.com/business/la-fi-obama-mortgage-20120126,0,2858269.story F6105005-576A-4B50-83F1-EDF93C718A88 Fri, 27 Jan 2012 07:07:33 -0800 Following three consecutive months of gains, sales of newly built, single-family homes edged down 2.2 percent to a seasonally adjusted annual rate of 307,000 units in December, according to newly released figures from the U.S. Commerce Department. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14827 050741CB-5AC3-49D3-AC07-10FD6B9EE034 Fri, 27 Jan 2012 06:57:02 -0800 New U.S. single-family home sales unexpectedly fell in December for the first time in four months and the median home price dropped, dampening some of the hopes the housing sector will boost the economy this year. http://www.cnbc.com/id/46147409 479FDF0D-D6CC-40D4-8487-9E12709F368C Thu, 26 Jan 2012 07:20:03 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.98 percent with an average 0.7 point for the week ending January 26, 2012, up from last week when it averaged 3.88 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=117152 B21DB877-8026-429E-8648-40388EE64698 Thu, 26 Jan 2012 07:18:36 -0800 The DOL reports in the week ending January 21, the advance figure for seasonally adjusted initial claims was 377,000, an increase of 21,000 from the previous week's revised figure of 356,000. http://www.calculatedriskblog.com/2012/01/weekly-initial-unemployment-claims_26.html 5BDA8EAE-FEA4-477B-A88B-B91B6F033655 Thu, 26 Jan 2012 07:14:54 -0800 Responding to falling prices and stiff competition from foreclosures, home building activity in 2011 dropped to an all-time low in Inland Southern California, according to a report released Wednesday by the California Building Industry Association. http://www.pe.com/business/business-headlines/20120125-real-estate-california-home-construction-reaches-all-time-low-in-2011.ece DDBFF31E-5181-4758-926D-AD49CCFFBCD8 Thu, 26 Jan 2012 07:07:20 -0800 In swift response to Obama’s State of the Union address, James Pethokoukis, a columnist for American Enterprise, characterized Obama’s housing proposal as "a housing policy bombshell" for the real estate and banking industries. http://www.pe.com/business/business-insider-headlines/20120125-real-estate-obamas-mass-refinancing-proposal-called-bombshell.ece B508EED7-8F9C-49CF-96BB-1EF6D353E7AF Thu, 26 Jan 2012 07:06:07 -0800 Calif. Atty. Gen. Kamala D. Harris' office has called a proposed $25-billion settlement with the nation’s mortgage industry "inadequate." http://www.latimes.com/business/money/la-fi-mo-mortgage-settlement-20120125,0,7414913.story?track=rss A1717CA0-5040-41A1-8B92-60CE281E71BE Thu, 26 Jan 2012 07:04:10 -0800 The Federal Reserve signaled Wednesday that a full economic recovery could take nearly three more years, and it went further than ever to assure consumers and businesses that they will be able to borrow cheaply well into the future. http://www.mercurynews.com/breaking-news/ci_19818265 04AC1122-447C-41D9-AE5F-76A9B493C4BD Thu, 26 Jan 2012 07:01:54 -0800 California pending home sales lower in December; distressed sales rise as lenders push through more REOs, short sales, C.A.R. reports. http://www.car.org/newsstand/newsreleases/2012releases/decpending/ F88019B4-5382-4FEF-AB71-14AD039FCE15 Wed, 25 Jan 2012 07:33:08 -0800 NAR reports the Pending Home Sales Index, a forward-looking indicator based on contract signings, declined 3.5 percent to 96.6 in December from 100.1 in November but is 5.6 percent above December 2010 when it was 91.5. http://www.realtor.org/press_room/news_releases/2012/01/phs_dec D12DBABB-AB34-461D-83FC-9E8B7F3A26A9 Wed, 25 Jan 2012 07:31:42 -0800 The MBA reports Refinance Index decreased 5.2 percent from the previous week. The seasonally adjusted Purchase Index decreased 5.4 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/79485.htm BC105D59-6D45-4FF9-93CC-2E1BF61DE8D6 Wed, 25 Jan 2012 07:29:29 -0800 The number of California homes going into foreclosure dropped in the fourth quarter of 2011 to the second-lowest level in more than four years, the result of evolving lender and mortgage servicer policies as well as shifting market conditions, a real estate information service reported. http://www.dqnews.com/Articles/2012/News/California/CA-Foreclosures/RRFor120124.aspx 5BE22331-A90A-45B2-963D-D395CE5D4E7C Wed, 25 Jan 2012 07:28:18 -0800 California has 21% fewer people holding a real estate license than it did five years ago when the tally peaked at just under 550,000 licensees, state figures show. http://lansner.ocregister.com/2012/01/24/1-in-5-gave-up-real-estate-license/157584/ 506A44F1-C82F-49E6-8014-A907BBBA8E9B Wed, 25 Jan 2012 07:26:14 -0800 President Obama is expected to announce the creation of a Mortgage Crisis unit that will probe misconduct leading up to the housing bust, according to a person familiar with the announcement. http://www.latimes.com/business/money/la-fi-mo-mortgage-unit-20120124,0,1156705.story?track=rss 3FCCB981-99E3-4027-9777-AE1B213AEA4A Wed, 25 Jan 2012 07:24:00 -0800 Nevada continued to record the highest unemployment rate among the states, 12.6 percent in December. California posted the next highest rate, 11.1 percent. http://www.calculatedriskblog.com/2012/01/state-unemployment-rates-slightly-lower.html 1BEF6BBE-4FDD-4F27-A2C4-E75F8C824221 Wed, 25 Jan 2012 07:19:09 -0800 It was easy to miss, but last Friday afternoon the Federal Housing Administration hinted that it is finally ready to resolve a real estate and mortgage issue that has been simmering away on the back burner for the past two years. http://www.car.org/newsstand/newsreleases/todaysheadlines/inman/ 848D6AA2-0FFA-49F2-89CB-0032C8949093 Wed, 25 Jan 2012 07:17:37 -0800 The FHFA analysis showed that principal reductions would be more costly for taxpayers than other alternatives. http://www.fhfa.gov/webfiles/23057/FHFAltrPrincipalForgiveness12312F.pdf 59A0349B-672E-46B7-B476-A6ACA8D270C6 Tue, 24 Jan 2012 07:06:36 -0800 The convicted mastermind of a $100 million mortgage fraud scheme pleaded guilty on Monday to plotting the death of a crucial witness in his trial while behind bars. http://www.nytimes.com/2012/01/24/nyregion/jailed-for-mortgage-fraud-aaron-hand-pleads-guilty-to-murder-plot.html?_r=1 5004160A-53E9-48D3-9FC8-F03E1550E5D7 Tue, 24 Jan 2012 07:03:41 -0800 The nation's five largest mortgage lenders have agreed to overhaul their industry after deceptive foreclosure practices unfairly evicted homeowners, government officials said Monday. http://www.usatoday.com/money/economy/housing/story/2012-01-23/landmark-mortgage-settlement/52757250/1 A6DABB62-2C2E-4DD4-9FD5-EE95BAD56DB0 Tue, 24 Jan 2012 06:51:33 -0800 A new economic forecast calls for the U.S. economy to make some modest growth strides this year, but not quite enough to significantly reduce the number of jobless Americans looking for work. http://www.cnbc.com/id/46098984 E31CC3E0-AFCB-4EED-8855-95F061773B37 Mon, 23 Jan 2012 07:57:23 -0800 As the race for the 2012 Presidential Election gets rolling, a new survey from the National Association of Home Builders (NAHB) shows what is on voters' minds. http://realtytimes.com/rtpages/20120123_realestateoutlook.htm 4352CCAD-1B9A-444A-AC0B-0E7DB9C1D675 Mon, 23 Jan 2012 07:54:47 -0800 Cash buyers, principally investors, may be putting downward pressure on home prices according to the Campbell/Inside Mortgage Finance Housing Pulse Tracking Survey released Monday. http://www.mortgagenewsdaily.com/01232012_home_prices.asp 59BCCE3C-4AF6-4E1E-BED4-7BB1958F1F65 Mon, 23 Jan 2012 07:51:10 -0800 Bank of America certainly turned some heads last week when it told its retail loan officers nationwide that the lender will halt, for now, originations of cash-out refinancings, citing what it calls a "surge of refinancing activity" and capacity problems. http://www.mortgagenewsdaily.com/channels/pipelinepress/01232012-mortgage-jobs-cash-out-refi.aspx 01A6B8F3-C5F5-45F5-B316-5D07BCB5F124 Mon, 23 Jan 2012 07:49:53 -0800 One analysis of real estate for sale in Laguna Woods shows the market speedier in its last tabulation. http://www.ocregister.com/articles/woods-336827-laguna-market.html C6EE2632-E066-4843-989A-37A300F3F4DA Mon, 23 Jan 2012 07:44:03 -0800 A $2 billion state program that could save 100,000 homeowners from falling into foreclosure has provided relief to borrowers, but some critics wonder if the relief is too little, too late. http://www.utsandiego.com/news/2012/jan/21/help-may-be-past-due/ 305B5E19-464F-4ADC-9A0A-9749DA088F8F Mon, 23 Jan 2012 07:37:50 -0800 Existing-home sales continued on an uptrend in December, rising for three consecutive months and remaining above a year ago, according to the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2012/01/ehs_dec 84B4D027-697F-4FF9-B0B0-D6D493D8637B Fri, 20 Jan 2012 08:47:50 -0800 Pending home sales in California fell in November but were up from the previous year for the seventh consecutive month. http://www.car.org/newsstand/newsreleases/2011newsreleases/novpending/ 21005EC3-1287-4667-8A13-CF1352093724 Fri, 20 Jan 2012 08:46:58 -0800 Nationwide production of new single-family homes rose 4.4 percent to a seasonally adjusted annual rate of 470,000 units in December, according to newly released figures from the U.S. Commerce Department. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14734 300BD389-126E-408D-96EF-CD7F45F6AE0B Fri, 20 Jan 2012 08:45:11 -0800 The average Orange County foreclosure took just over 11 months from the filing of a default notice to the sale. http://lansner.ocregister.com/2012/01/19/foreclosures-take-almost-a-year/157358/ 1AA29180-126A-4EA4-AC69-E252CD8CB859 Fri, 20 Jan 2012 08:35:20 -0800 Of the 29,000 homes sold in Orange County in the past year, more than 7,840 sold for $300,000 or less, according to Redfin’s tally of sales from the broker-run multiple listing service. http://lansner.ocregister.com/2012/01/18/7840-o-c-homes-sell-for-under-300000-in-a-year/157261/ 4A4FE27F-BEAD-47B9-B796-BD87011A4AA0 Fri, 20 Jan 2012 08:40:11 -0800 To assist both REALTORS® and consumers, C.A.R. has launched shortsalescalifornia.org, a website specifically focused on short sales. http://www.car.org/newsstand/news/shortsalesca/ 05B2E75B-F747-4F22-933F-11F78C4FF4E5 Fri, 20 Jan 2012 08:33:33 -0800 New rules blocking lenders from hiring their own appraisers mean that appraisers are often hired by appraisal management companies, which generally absorb some of the fee that appraisers earn. http://realtormag.realtor.org/daily-news/2012/01/19/wanted-skilled-appraisers 87CB2195-7682-466D-B278-19E7CB0C5AFD Fri, 20 Jan 2012 08:50:03 -0800 Freddie Mac today released the results of its Primary Mortgage Market Survey®, showing average mortgage rates changing little amid mixed economic data. http://freddiemac.mediaroom.com/index.php?s=12329&item=110028 45175524-C11D-41C7-917B-7D7D3563321A Fri, 20 Jan 2012 08:52:12 -0800 The Census Bureau reports privately-owned housing starts in December were at a seasonally adjusted annual rate of 657,000. This is 4.1 percent below the revised November but is 24.9 percent above the December 2010. http://www.calculatedriskblog.com/2012/01/housing-starts-decline-in-december.html D38DFD58-4D7A-4B65-99AE-D0E14521B5BB Thu, 19 Jan 2012 07:05:40 -0800 The number of people seeking unemployment benefits plummeted last week to 352,000, the fewest since April 2008. The decline added to evidence that the job market is strengthening. http://finance.yahoo.com/news/Unemployment-claims-352-000-apf-431083078.html?x=0 B51BBDC1-E4C5-4C53-9D17-F3F32BA78F3D Thu, 19 Jan 2012 07:00:00 -0800 Administration officials and attorneys general are "very close" to a settlement with major banks of the so-called robo-signing issues after about a year of negotiations, HUD Secretary said at a conference of U.S. mayors meeting in Washington. http://www.calculatedriskblog.com/2012/01/hud-secretary-donovan-mortgage.html B8A0C12C-9C36-47C1-8891-E912E28BE325 Thu, 19 Jan 2012 06:58:28 -0800 Freddie Mac released today its U.S. Economic and Housing Market Outlook for January showing that while the economy is undoubtedly in a better place than the same time a year ago, a speedy recovery still seems unlikely this year. http://freddiemac.mediaroom.com/index.php?s=12329&item=109977 86BE94E2-9A52-42E4-9D9B-AC06A5E17AA6 Thu, 19 Jan 2012 06:54:27 -0800 An estimated 37,734 new and resale houses and condos were sold statewide last month. That was up 15.5 percent from 32,669 in November, and up 4.2 percent from 36,215 for December 2010. http://www.dqnews.com/Articles/2012/News/California/RRCA120118.aspx E466CFED-8B30-45D4-8CC8-308252375AC6 Thu, 19 Jan 2012 06:55:31 -0800 For decades, efforts to standardize the data used to describe for-sale homes have been delayed and derailed by differing local customs, preferences, technologies and terminology. http://www.inman.com/news/2012/01/17/data-dictionary-will-bring-common-vocabulary-sale-real-estate A0AE041B-3B23-4635-B59E-6CE91DE7FCF1 Thu, 19 Jan 2012 06:48:13 -0800 Builder confidence in the market for newly built, single-family homes continued to climb for a fourth consecutive month in January, rising four points to 25 on the NAHB/Wells Fargo Housing Market Index (HMI), released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14724 B24BD81A-1F5E-4100-808E-BDC215D0C183 Wed, 18 Jan 2012 07:49:51 -0800 The Refinance Index increased 26.4 percent from the previous week to its highest level since August 8, 2011. The seasonally adjusted Purchase Index increased 10.3 percent from one week earlier to its highest level since December 12, 2011. http://www.mortgagebankers.org/NewsandMedia/PressCenter/79310.htm 982BEAC4-54BE-46C1-9B7C-5B788C8E8F78 Wed, 18 Jan 2012 07:45:33 -0800 The BuildFax Residential Remodeling Index was at 137.9 in November, down from 147.6 in October, but up 33.5% from November 2010. http://www.calculatedriskblog.com/2012/01/residential-remodeling-index-declines.html 65E18ACE-98BF-46F7-8D3B-C8B982840A4B Wed, 18 Jan 2012 07:41:55 -0800 Southern California home sales surged last month from November - as they normally do - amid relatively strong activity under $300,000 and a record share of sales to "absentee" buyers, mainly investors. http://www.dqnews.com/Articles/2012/News/California/Southern-CA/RRSCA120117.aspx 302F7C47-9CE1-4452-A40B-CD5910AEEDF0 Wed, 18 Jan 2012 07:36:02 -0800 Even as experts brace for a surge in foreclosures this year, the portion of borrowers eligible for modification of their mortgages to help them keep their homes is shrinking, according to the federal agency that regulates national banks. http://www.pe.com/business/business-headlines/20120114-real-estate-fewer-loan-mods-granted.ece 457B8F76-7ADA-4834-8DCC-413A47AC9507 Wed, 18 Jan 2012 07:33:48 -0800 President Barack Obama's jobs council is calling for a corporate tax overhaul, expanded domestic drilling and new regulatory reforms, a set of proposals unlikely to provide a quick fix for high unemployment or gain much traction in an election year. http://www.cnbc.com/id/46023529 1262EFE2-9F7D-471D-9179-47E2C4C5DDAD Tue, 17 Jan 2012 07:54:33 -0800 Markets across the nation are showing signs of movement and improvement. "The fact that the list of improving housing markets nearly doubled this month shows that a significant, positive trend is developing." - Bob Nielsen, NAHB Chairman http://realtytimes.com/rtpages/20120116_realestateoutlook.htm 792C429B-6811-4F42-9B65-ACA881F47BDA Mon, 16 Jan 2012 07:45:15 -0800 DataQuick’s Orange County homebuying report for late December showed total Orange County sales of 2,585 residences closed - down 5.6% vs. a year ago. http://lansner.ocregister.com/2012/01/14/home-pricing-sales-dipped-as-2011-ended/157196/ 8B5A714F-05D2-43DD-8302-6CDFA493BFA2 Mon, 16 Jan 2012 07:40:27 -0800 Brandywine Homes’ Century Village in the city’s central hub will offer four floor plans ranging from 1,705 square feet to 2,247 square feet with three or four bedrooms; up to 3.5 bathrooms; and garages holdings two or three cars. http://lansner.ocregister.com/2012/01/13/garden-grove-gets-53-new-homes/157169/ A4AE6DBF-2C43-4595-88A8-FD11FA3723BD Mon, 16 Jan 2012 07:38:32 -0800 Banks may seize more than 1 million U.S. homes this year after legal scrutiny of their foreclosure practices slowed actions against delinquent property owners in 2011, RealtyTrac said. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/01/12/BUPF1MOFAU.DTL 8A776D8C-47AC-40DD-A2A2-1ADAF5ABD457 Mon, 16 Jan 2012 07:34:04 -0800 President Barack Obama will ask Congress on Friday for greater power to shrink the federal government, and his first idea is merging six sprawling trade and commerce agencies whose overlapping programs can be baffling to businesses, a senior administration official told The Associated Press. http://www.cnbc.com/id/45983894 1F88A169-8016-4362-B86C-881C8F3089FC Fri, 13 Jan 2012 08:13:11 -0800 Thomson Reuters/University of Michigan Surveys of Consumers' preliminary January consumer sentiment index rose to 74.0 from 69.9 in the final December report, according to a report released on Friday. http://www.cnbc.com/id/45985628 465522C6-287F-48D2-BA50-AC031C3D602F Fri, 13 Jan 2012 08:07:18 -0800 Expect the housing market to be in gradual recovery mode in 2012, according to a recent survey of 1,000 RE/MAX real estate agents. http://realtormag.realtor.org/daily-news/2012/01/12/agents-predict-when-rebound-will-take-shape 25326FDE-F2F4-44B5-BD2E-FAE12949763C Fri, 13 Jan 2012 08:05:22 -0800 A former housing market skeptic has become a housing market booster, telling a gathering of real estate insiders Thursday that now "is a great time to buy a home." http://lansner.ocregister.com/2012/01/13/ex-doomsayer-its-a-great-time-to-buy-a-home/157105/ 5A1A5BF4-2A16-4A25-A87C-2BB1C0E62ED0 Fri, 13 Jan 2012 08:01:36 -0800 Last year, foreign homebuyers reportedly bought about $41 billion worth of homes on U.S. soil. In fact, some experts have suggested that these buyers will help stabilize America’s housing market. http://insights.truliablog.com/ 1003BAF8-7538-49BB-9822-9FBCE4992782 Fri, 13 Jan 2012 07:56:20 -0800 Banks need to lend more. That is what regulators in Washington have been saying for months, even years now. http://www.cnbc.com/id/45974140 6E9B64B3-6E31-4CEE-85AC-342E031AA44E Fri, 13 Jan 2012 07:47:28 -0800 The new rules - which govern credit cards, overdraft fees and debit card transactions - generated a predictable outcry from industry members. They see regulators as trying to cut into their profitability at a time when banks traditional source of income, making loans, is proving difficult. http://www.cnbc.com/id/45971969 1545B900-E1D8-4F00-9814-77EB87919B80 Thu, 12 Jan 2012 09:38:58 -0800 "Three years after the crisis, we don't know what qualified mortgages are. We don't know the GSEs. We don't know what the skin in the game is. It's holding back the mortgage market. I wish this was done much quicker." - Jamie Dimon, CEO JPMorgan Chase http://www.cnbc.com/id/45971366 94CB885C-D3B9-47AA-8CFB-932D64FA35E4 Thu, 12 Jan 2012 09:34:08 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.89 percent with an average 0.7 point for the week ending January 12, 2012, down from last week when it averaged 3.91 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=107225 35A48D8B-0CA4-46D5-ADA3-787714CC35A7 Thu, 12 Jan 2012 08:53:48 -0800 The DOL reports in the week ending January 7, the advance figure for seasonally adjusted initial claims was 399,000, an increase of 24,000 from the previous week's revised figure of 375,000. http://www.calculatedriskblog.com/2012/01/weekly-initial-unemployment-claims_12.html 795A9254-C44C-48E3-A6AA-7A45405B3A34 Thu, 12 Jan 2012 08:40:41 -0800 Home affordability is at 1971 levels, due to falling home prices and record low mortgage rates, pushing home ownership in reach to more families, according to the U.S. Department of Housing and Urban Development (HUD). http://realtormag.realtor.org/daily-news/2012/01/11/home-affordability-offering-up-40-year-deals 2AF54937-E791-4F29-BE7B-FD774C5D52C4 Thu, 12 Jan 2012 08:39:24 -0800 Lennar Corp. reported it’s second profitable year in a row Wednesday. And, the company says, its orders for new homes are up 20 percent. http://lansner.ocregister.com/2012/01/11/homebuilders-profits-down-in-2011/156997/ 50D1472F-A06A-49F3-BB08-4EC57028072D Thu, 12 Jan 2012 08:35:02 -0800 RealtyTrac® reports a total of 2,698,967 foreclosure filings were reported on 1,887,777 U.S. properties in 2011, a decrease of 34 percent in total properties from 2010. http://www.realtytrac.com/content/foreclosure-market-report/2011-year-end-foreclosure-market-report-6984 AEC07663-92A8-4B57-806A-42D3BCB39753 Thu, 12 Jan 2012 08:31:24 -0800 The U.S. Federal Reserve should stick to its super-easy monetary policy to fight extraordinarily high unemployment and spur a "painstakingly slow" economic recovery, even if doing so pushes inflation temporarily higher, a top Fed official said on Wednesday. http://www.cnbc.com/id/45956871 0B73B779-8378-4835-86CD-7AE9E9075E7B Wed, 11 Jan 2012 08:31:14 -0800 Michael J. Williams said he is stepping down as chief executive of the quasi-governmental mortgage giant Fannie Mae. The company made the announcement late last night, saying Williams will wait to step down until the board of directors names a successor. http://www.npr.org/blogs/thetwo-way/2012/01/11/145029270/fannie-mae-ceo-will-step-down 1035613D-6EB1-4EF8-B294-35D4484014FA Wed, 11 Jan 2012 08:17:20 -0800 Mortgage applications increased 4.5 percent from one week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending January 6, 2012. http://www.mortgagebankers.org/NewsandMedia/PressCenter/79250.htm 22992C93-5A7D-4609-8A60-FF82CEF7D757 Wed, 11 Jan 2012 08:08:41 -0800 The California Department of Real Estate would be eliminated and its functions transferred to the state Consumer Affairs Department under Gov. Jerry Brown’s 2012-13 budget proposal unveiled Thursday, the Sacramento Bee has reported. http://lansner.ocregister.com/2012/01/10/brown-to-scrap-real-estate-licensing-agency/156941/ 93927EA9-49A7-434D-A2DD-1CCB74F8F754 Wed, 11 Jan 2012 08:05:58 -0800 According to CoreLogic’s latest late-mortgage report, 5.74% of Orange County home-loan borrowers as of October are 90 days-plus late with their house payments. It’s the lowest delinquency rate for local mortgages since March 2009! http://lansner.ocregister.com/2012/01/10/o-c-mortgage-delinquency-at-29-month-low/156935/ EB075FA0-3790-4520-A9B3-CCAADEAB5C73 Wed, 11 Jan 2012 08:07:08 -0800 The number of loan servicers taking part in a state mortgage-aid program continues to grow roughly one year after its launch, said officials from the California Housing Finance Agency. http://www.utsandiego.com/news/2012/jan/10/more-lenders-added-calif-mortgage-aid-program/ 5C1F7789-54F2-4B8B-A208-6299F53CA293 Wed, 11 Jan 2012 08:04:38 -0800 California house prices had the seventh-biggest price drop among U.S. states in November, falling 5.9% from year-ago levels, according to Santa Ana-based data firm CoreLogic. http://lansner.ocregister.com/2012/01/10/156906/156906/ E9DFBEF8-774F-486F-A3DC-A5D8867C8898 Wed, 11 Jan 2012 08:01:54 -0800 Consumer borrowing in the U.S. surged in November by the most in 10 years, showing households are optimistic enough to take on debt and banks are willing to lend. http://www.bloomberg.com/news/print/2012-01-09/u-s-consumer-credit-rose-by-most-in-decade-in-november-to-2-48-trillion.html 5D61000F-8685-4788-B6BE-8BEEFDB27324 Wed, 11 Jan 2012 08:00:12 -0800 Mortgage servicers are on track to modify far fewer loans in 2011 than the previous year, according to the most recent data provided by the Hope Now alliance formed by these firms and others in the industry. http://www.housingwire.com/2012/01/10/mortgage-modifications-in-2011-to-fall-short-of-previous-year 44DDE275-69BD-4C6F-B686-F78B733B4B34 Wed, 11 Jan 2012 07:58:52 -0800 The BLS reports the number of job openings in November was 3.2 million, unchanged from October. Although the number of job openings remained below the 4.4 million openings when the recession began in December 2007, the level in November was 1.0 million higher than in July 2009. http://www.calculatedriskblog.com/2012/01/bls-job-openings-unchanged-in-november.html 0029035C-3806-41D3-81CB-E42901385BDA Tue, 10 Jan 2012 07:59:27 -0800 For the fourth time since September, and for the second month in a row, small-business optimism has risen, according to the National Federation of Independent Business Optimism Index. http://www.cnbc.com/id/45934111 09CF111A-C068-40CC-A5A5-BB138B836CA2 Tue, 10 Jan 2012 07:57:37 -0800 New programs and "housing policy interventions" are needed to help the real estate market rebound and boost growth in the overall economy, three Federal Reserve policymakers said Friday. http://realtormag.realtor.org/daily-news/2012/01/09/fed-officials-call-for-more-housing-fixes C3BA0610-6B30-4195-9FF5-3FA7E6125E0D Tue, 10 Jan 2012 07:53:08 -0800 Lawmakers and regulators are crafting proposals that, if left unchecked, will harm home owners, home buyers, the housing market and the nation’s economy. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14452 F14FF2CA-FDC1-4E8A-8041-E80C67A311BC Tue, 10 Jan 2012 07:50:43 -0800 According to Steve Thomas of ReportsonHousing.com, 1,360 new escrows were opened to buy distressed Orange County properties in the past 30 days. That is 61% of the 2,220 new pending sales countywide or 3-to-2 preference! http://lansner.ocregister.com/2012/01/09/buyers-chose-distressed-homes-by-3-to-2/156854/ 7F4B43DC-52CB-430A-93F0-6B45775F2FE6 Tue, 10 Jan 2012 07:46:08 -0800 The Obama administration, in conjunction with federal regulators and led by the overseer of Fannie Mae and Freddie Mac, is very close to announcing a pilot program to sell government-owned foreclosures in bulk to investors as rentals, according to administration officials. http://www.cnbc.com/id/45925851 ABF0CC73-B403-4CC5-9BFB-BBD7C43BAC5B Mon, 9 Jan 2012 08:09:15 -0800 The U.S. economy is well on the road to recovery, but would be doing better if not for a repressive environment in Washington, Jack Welch, author and former General Electric chairman, told CNBC Monday. http://www.cnbc.com/id/45924852 18C583D6-5F12-4AEA-BC3B-00CC88E3CD2D Mon, 9 Jan 2012 08:08:12 -0800 CoreLogic released its November Home Price Index report which shows that home prices in the U.S. decreased 1.4 percent on a month-over-month basis, the fourth consecutive monthly decline. http://www.calculatedriskblog.com/2012/01/corelogic-house-price-index-declined-14.html CC213F0D-C378-4117-85F1-1F4ECC4F4125 Mon, 9 Jan 2012 08:02:51 -0800 Construction employment increased by 17 thousand jobs in December, and is now down 2.18 million jobs from the peak in April 2006. http://www.calculatedriskblog.com/2012/01/residential-construction-employment.html DD2F89FC-5735-45DB-8055-E03395A35D68 Mon, 9 Jan 2012 07:56:29 -0800 Freddie Mac today announced it is giving mortgage servicers expanded authority to provide six months of forbearance to unemployed borrowers without Freddie Mac's prior approval and up to an additional six months with prior approval. http://freddiemac.mediaroom.com/index.php?s=12329&item=106028 19847C6F-517E-42E6-B00C-AFEB33B49ACC Mon, 9 Jan 2012 07:54:13 -0800 Freddie Mac announced it has eliminated its minimum credit score requirement for borrowers wanting to refinance, but they must have at least 20 percent equity in their home, HousingWire reports. http://realtormag.realtor.org/daily-news/2012/01/06/freddie-loosens-credit-score-requirement-for-refis A0E5D7B2-A1E2-45FA-989C-0B1A05EED955 Mon, 9 Jan 2012 07:52:57 -0800 e number of housing markets showing measurable improvement nearly doubled in January with the addition of 40 new metros to the National Association of Home Builders/First American Improving Markets Index, released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14478 BAFE1457-6D17-48FA-93F2-77F540911B28 Mon, 9 Jan 2012 07:50:45 -0800 It’s tougher for just about all mortgage borrowers to get a loan for a home purchase or refinance these days, but many self-employed business owners are really feeling the pinch. http://www.marketwatch.com/story/how-to-get-a-mortgage-if-youre-self-employed-2012-01-09 27AB04AD-68C1-4E9A-A946-3F85FFFB442F Mon, 9 Jan 2012 07:48:26 -0800 Beginning with the 2012 tax bill, the state Franchise Tax Board will require property owners to break down their property taxes into deductible and non-deductible portions. http://economy.ocregister.com/2012/01/09/state-targets-property-tax-payers/101799/ F214B8D1-424B-4BC5-8662-9EF93084EA2C Mon, 9 Jan 2012 07:45:47 -0800 According to DataQuick, the median selling price for a home in Orange County was $404,750 - down 5.5% compared to this time last year. Total O.C. sales were 2,579 - down 5.4% compared to this time last year. http://lansner.ocregister.com/2012/01/08/homebuying-dipped-5-as-11-ended/156846/ 7597F6EE-4E14-4FFB-B184-210A4817879D Mon, 9 Jan 2012 07:41:41 -0800 Faced with the choice of selling their homes in today’s foreclosure ridden market or leasing them, many homeowners who want or need to move are becoming reluctant landlords. http://www.pe.com/business/business-headlines/20120107-real-estate-rather-than-sell-homeowners-become-reluctant-landlords.ece AAFCCC5B-0ED9-4DF2-8142-7742C9E2C4EB Mon, 9 Jan 2012 07:38:25 -0800 Nonfarm payroll employment rose by 200,000 in December, and the unemployment rate, at 8.5 percent, continued to trend down, the U.S. Bureau of Labor Statistics reported today. http://www.calculatedriskblog.com/2012/01/december-employment-report-200000-jobs.html 88C260F4-F6F2-46DC-AF05-19A2E6AE138D Fri, 6 Jan 2012 08:13:24 -0800 "Slow but steady job growth will continue, and as it does there will be a realization that a housing shortage is looming, due to the dearth of new home building over the last five years." - Dan Young, Irvine Co. President http://lansner.ocregister.com/2012/01/06/irvine-co-eyes-looming-housing-shortgage/156787/ 4E377732-57C0-44F0-9780-D7F9FBFF59CE Fri, 6 Jan 2012 08:06:53 -0800 Federal Reserve Chairman Ben Bernanke believes that one aspect should be a government support program that allows renters to move into those houses. http://www.housingwire.com/2012/01/04/bernanke-calls-for-nationwide-reo-rental-program 53A5213A-E6D3-41AD-9E4F-CA9AD66A8DE6 Fri, 6 Jan 2012 08:03:37 -0800 The office vacancy rate fell in the fourth quarter of 2011 and rents rose for the fifth straight period, signaling that a recovery is well under way, real estate research firm Reis Inc said on Friday. http://www.reuters.com/article/2012/01/06/us-office-rents-idUSTRE80508G20120106 E9D25795-AC66-4A2B-BD67-AAC51776051B Fri, 6 Jan 2012 08:01:26 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.91 percent with an average 0.8 point for the week ending January 5, 2012, down from last week when it averaged 3.95 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=102616 F4C651EB-01F4-4995-9581-DF3508FDB6FE Thu, 5 Jan 2012 08:42:24 -0800 The DOL reports in the week ending December 31, the advance figure for seasonally adjusted initial claims was 372,000, a decrease of 15,000 from the previous week's revised figure of 387,000. http://www.calculatedriskblog.com/2012/01/weekly-initial-unemployment-claims.html 6D4F0ECB-008F-4023-A311-1B5739B5C6E5 Thu, 5 Jan 2012 08:40:14 -0800 Private-sector employment increased by 325,000 from November to December on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. http://www.adpemploymentreport.com/pdf/FINAL_Release_December_11.pdf F4DF5BB9-2C14-4A13-A9B7-46641A811506 Thu, 5 Jan 2012 08:36:46 -0800 The nation's apartment-vacancy rate in the fourth quarter fell to its lowest level since late 2001. http://www.calculatedriskblog.com/2012/01/reis-apartment-vacancy-rate-falls-to-52.html 54C5555E-93B4-4ECE-B4B3-7B2531B6C37A Thu, 5 Jan 2012 08:31:23 -0800 Natural disasters from tornados, hail, winds, and floods caused widespread damage throughout the country in 2011, and more home owners may soon see their homeowner's insurance premiums rise because of it. http://realtormag.realtor.org/daily-news/2012/01/04/cost-homeowners-insurance-may-soon-be-rise 4FFC8783-5AB4-455A-83B6-B4067716DFDE Thu, 5 Jan 2012 08:27:35 -0800 More households are moving to East Coast states while leaving Rust Belt states -- the area in the U.S. between the Midwest and the Northeast -- where unemployment remains high, according to the latest Atlas Lines Migration Patterns study. http://realtormag.realtor.org/daily-news/2012/01/04/more-americans-are-move-survey-says A174A70A-3DA0-45AA-9560-B1DBD261D237 Thu, 5 Jan 2012 08:25:04 -0800 Allied Van Lines’ 44th annual "Magnet States Report" says that at least by its own business patterns California is back as on the "inbound list." http://lansner.ocregister.com/2012/01/04/van-line-calif-jumps-to-no-7-u-s-destination/156643/ 87A23B69-6D78-4956-B713-59FB94CB535D Thu, 5 Jan 2012 08:20:48 -0800 The new Lemongrass community in Fountain Valley features homes with up to five bedrooms. Two single-story models were sold. Two-and-three-story models are still available. http://lansner.ocregister.com/2012/01/04/16-new-homes-for-sale-in-fountain-valley/156582/ 4860B5CD-2059-47AB-BF10-C9001154175B Thu, 5 Jan 2012 08:18:22 -0800 The Mortgage Bankers Association reports the seasonally adjusted Purchase Index decreased 9.7 percent compared with levels reported two weeks ago. http://www.mortgagebankers.org/NewsandMedia/PressCenter/79126.htm E8C3C055-620E-4C93-8C24-76A07D13B34A Wed, 4 Jan 2012 07:26:28 -0800 nk of America Corp. lost a ruling in a court fight against MBIA Inc. that will help the bond insurer as it tries to recover losses on home loans made by the bank’s Countrywide Financial unit. http://www.bloomberg.com/news/2012-01-03/mbia-wins-judgment-ruling-against-countrywide.html ACA82D3E-0166-4F27-8200-4AB307815CE9 Wed, 4 Jan 2012 07:22:21 -0800 A first-of-the-year forecast on commercial real estate conditions across the country cites the strength of Inland Southern California for investors looking to sink money into industrial properties. http://www.pe.com/business/business-insider-headlines/20120103-real-estate-inland-area-considered-strong-investment-opportunity.ece E1783061-4974-4193-AAAD-C876D322586C Wed, 4 Jan 2012 07:20:19 -0800 Pent-up demand exists, no question, but it has nowhere to go right now for the vast majority of organic home buyers. http://www.cnbc.com/id/45858675 48B1AA88-5AAE-4B44-96A7-4065885AE44B Tue, 3 Jan 2012 10:12:11 -0800 American consumers are running out of tricks. As the weak economy has trudged on, they have leaned on credit cards to pay for holiday gifts, many bought at discounts. They are dipping into savings to cover spikes in gas, food and rent. http://www.cnbc.com/id/45854379 FAD0A0A1-24DF-431A-BF3A-DAD387462E8A Tue, 3 Jan 2012 10:02:38 -0800 The U.S. Census Bureau of the Department of Commerce announced today that construction spending during November 2011 was estimated at a seasonally adjusted annual rate of $807.1 billion, 1.2 percent above the revised October estimate of $797.4 billion. http://www.calculatedriskblog.com/2012/01/construction-spending-increased-in.html 5807F610-BEEF-489E-BCDE-22160F53CA75 Tue, 3 Jan 2012 09:55:08 -0800 The "government, the mortgage industry, and forces of nature all shook the housing market in 2011," according to a recent Time magazine article, which highlights the key issues that had the greatest impact on the real estate market this year--and what’s expected to have a major impact in the new year as well. http://realtormag.realtor.org/daily-news/2011/12/30/what-had-biggest-impact-housing-in-2011 851A648F-F191-485B-BF3A-939156C4A31D Tue, 3 Jan 2012 07:20:35 -0800 Still, while commercial real estate markets have been relatively flat this year, improving fundamentals mean a more positive trend is expected in 2012. http://www.realtor.org/research/reinsights/infocus 275F0C42-FF3F-47D7-83E0-ADE84827FA1D Tue, 3 Jan 2012 07:19:34 -0800 Fannie Mae reported that the Single-Family Serious Delinquency rate was unchanged at 4.00% in November. Freddie Mac reported that the Single-Family serious delinquency rate increased to 3.57% in November, up from 3.54% in October. http://www.calculatedriskblog.com/2011/12/fannie-mae-and-freddie-mac-serious.html CBDF3F22-6ABF-49A2-87C8-73C8097AF7F5 Fri, 30 Dec 2011 08:04:22 -0800 For the 22 business days ending Dec. 8, DataQuick reports that South Inland Orange County home prices fell by 10% compared to a year ago, the biggest drop in the county. http://lansner.ocregister.com/2011/12/29/south-county-homes-see-biggest-price-drops/156233/ 27A86F0B-1DC4-411E-B681-2D8E63E243D8 Fri, 30 Dec 2011 07:48:30 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.95 percent with an average 0.7 point for the week ending December 29, 2011, up from last week when it averaged 3.91 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=98391 34CD5A7D-9EFF-4AD6-9CE3-70928C31E0E3 Thu, 29 Dec 2011 08:16:03 -0800 NAR's Pending Home Sales Index increased 7.3 percent to 100.1 in November from a revised 93.3 in October. It is 5.9 percent above November 2010 when it stood at 94.5. http://www.realtor.org/press_room/news_releases/2011/12/phs_nov EA332032-0600-4A2B-A5E4-88D6AA5650F3 Thu, 29 Dec 2011 08:06:27 -0800 The DOL reports in the week ending December 24, the advance figure for seasonally adjusted initial claims was 381,000, an increase of 15,000 from the previous week's revised figure of 366,000. http://www.calculatedriskblog.com/2011/12/weekly-initial-unemployment-claims_29.html FAC2A365-FAE0-4662-A153-7CD6A1EDD06D Thu, 29 Dec 2011 08:03:04 -0800 On a percentage basis, Orange County construction jobs shrank by 3.38% in a month and receded by 1.64% in a year. http://lansner.ocregister.com/2011/12/28/o-c-loses-6000-construction-jobs-in-4-months/156443/ DC1DEE0E-E1C2-4AC0-A186-F1FD5FF57EF6 Thu, 29 Dec 2011 07:59:21 -0800 In just the past two weeks alone, the inventory has shed an additional 528 homes, now totaling 8,377, a 6% drop. http://lansner.ocregister.com/2011/12/28/o-c-sellers-flee-home-market-inventory-at-22-month-low/156439/ 7B14F699-9AAE-4B7C-8517-CAC852558FAB Thu, 29 Dec 2011 07:57:37 -0800 Despite the record low rates, applications for mortgages to buy homes dropped as the year ended, even after seasonal adjustments, the latest Mortgage Bankers Assn. survey found. http://latimesblogs.latimes.com/money_co/real_estate/ 5DDF4BCD-623C-4AB6-B5CF-AFC6B96D8374 Thu, 29 Dec 2011 07:52:20 -0800 Sales ticked up for existing homes and new homes, several real estate market indicators revealed last week, pointing to a housing market that may finally be entering recovery mode. http://realtormag.realtor.org/daily-news/2011/12/27/some-good-signs-for-real-estate-market F1178651-B500-471D-88D6-47B24307740B Wed, 28 Dec 2011 07:54:41 -0800 Newly released Census data show that the population expanded only 0.7 percent during the 12 months ending on July 1, the lowest pace since the 1940s. http://realtormag.realtor.org/daily-news/2011/12/27/us-population-growth-slows-wwii-levels 44B1EC2D-9A32-48B5-9E11-8DDEF3559E24 Wed, 28 Dec 2011 07:51:53 -0800 FHA regulations prohibit insuring a mortgage on a home owned by the seller for less than 90 days, but this rule is waived through December 31, 2012 http://www.mortgagenewsdaily.com/channels/pipelinepress/12272011-fha-waiver-mi-tax-deductible.aspx 677D523B-5D50-4F4F-AA48-0350FCD9AC06 Wed, 28 Dec 2011 07:49:32 -0800 This year is shaping up as the sixth slowest for homebuilders since the end of World War II, figures from the Construction Industry Research Board show. http://lansner.ocregister.com/2011/12/27/2011-to-be-homebuildings-6th-worst-year/156363/ 8BFA9C60-E371-4915-8DF5-D63C97BF04DA Wed, 28 Dec 2011 07:44:45 -0800 While data on the number of loans either seriously delinquent or in the foreclosure process suggested that an increase in the number of residential properties lost to foreclosure this year was a "slam dunk," incoming data suggest that in fact the numbers will be down significantly from 2010, and will in fact probably come in at the lowest level since 2007! http://www.calculatedriskblog.com/2011/12/lawler-completed-foreclosure-sales-in.html 0EA5F2D8-818C-4AF7-9D88-A84D8C5FA6D1 Wed, 28 Dec 2011 07:40:54 -0800 The New York-based Conference Board says Tuesday that its Consumer Confidence Index rose almost 10 points to 64.5, up from a revised 55.2 in November. Analysts had expected 59. http://www.cnbc.com/id/45795931 76585B1B-0F30-4785-B6FC-30D15FB89B06 Tue, 27 Dec 2011 07:30:52 -0800 U.S. single-family home prices fell more than expected in October, data showed Tuesday, raising doubts that recent signs of improvement in the housing market would be sustained. http://www.cnbc.com/id/45795202 FAD7DF51-30A6-4D02-887C-C1546B5D469A Tue, 27 Dec 2011 07:29:35 -0800 With U.S. unemployment at a lofty 8.6 percent, home foreclosures rising and property prices under pressure, more and more Americans have given up the dream of owning, opting instead to rent, a shift that is remaking the face of the U.S. housing industry. http://www.cnbc.com/id/45794427 0BAC9036-96EA-47B5-BA0A-9822085ED725 Tue, 27 Dec 2011 07:28:26 -0800 U.S. inflation is slowing after a surge early in the year. This is good news for Americans, as it means the money in their pockets goes further. It also is welcome at the Federal Reserve, which has been counting on an inflation slowdown. http://online.wsj.com/article/SB10001424052970203686204577116521286547832.html 1959268A-373B-4576-9453-F833F907B1C6 Tue, 27 Dec 2011 07:22:32 -0800 The Justice Department faces the daunting task of tracking down more than 210,000 alleged victims and determining how to compensate them, following last week's $335 million fair-lending settlement with Bank of America Corp.'s Countrywide unit. http://online.wsj.com/article/SB10001424052970203686204577116860378024808.html?mod=WSJ_RealEstate_LeftTopNews 3C0E431D-767C-4A2D-B1DB-6EFFE8120B5F Tue, 27 Dec 2011 07:20:50 -0800 A development in Lake Forest claims to have solved the riddle that’s eluded U.S. tract home builders until now: Mass production of the "net zero" home - or home that produces as much energy as it consumes. http://lansner.ocregister.com/2011/12/26/your-electric-bill-could-be-0/156245/ ED3519C1-AD81-4989-801D-F1296D1D804E Tue, 27 Dec 2011 07:16:29 -0800 The first week of the last month of the Old Year promises more of the same from the past several months: Sagging home prices and sluggish sales, DataQuick’s weekly housing report shows. http://lansner.ocregister.com/2011/12/26/o-c-home-price-down-7-5-in-early-december-figures/156217/ 2AD2E27B-5CBE-4733-A29C-15C5F000855D Mon, 26 Dec 2011 09:36:15 -0800 Because of the time it often takes for property assessments to reflect falling home values, the bust that began in 2007 has just begun to ravage tax revenues in communities from coast to coast. The problem is unlikely to subside soon. http://www.washingtonpost.com/business/economy/falling-home-values-mean-budget-crunches-for-cities/2011/12/14/gIQAwWmtHP_story.html D44D32A8-B0CD-4516-8F5E-1F6915EF8075 Mon, 26 Dec 2011 09:31:59 -0800 The U.S. Congress Friday completed work on a two-month extension of a payroll tax cut for 160 million American workers who otherwise would have expired on Dec. 31. http://www.cnbc.com/id/45776290 785D878C-4A7F-49DF-80CB-C1D603E5ED61 Fri, 23 Dec 2011 08:18:26 -0800 The Census Bureau reports New Home Sales in November were at a seasonally adjusted annual rate of 315 thousand. This was up from a revised 310 thousand in October. http://www.calculatedriskblog.com/2011/12/new-home-sales-increase-in-november-to.html 85801957-0386-4D00-84C3-0DD1E1F2CDD0 Fri, 23 Dec 2011 08:16:11 -0800 Personal income increased $8.5 billion, or 0.1 percent in November, according to the Bureau of Economic Analysis. http://www.calculatedriskblog.com/2011/12/personal-income-increased-01-in.html AADDA85B-DF5E-453B-9E41-E3E21F477ABD Fri, 23 Dec 2011 08:12:39 -0800 Despite many programs to help underwater homeowners, the financial crisis continues and foreclosures loom throughout the country. http://realtytimes.com/rtpages/20111223_principal.htm E3D8F88E-4B55-4B59-9D47-6FD8E3DDA9D5 Fri, 23 Dec 2011 08:04:10 -0800 Median list prices nationwide have risen 4.05 percent on a year-over-year basis, according to November housing data of 146 metro areas from Realtor.com. Fewer cities are reporting year-over-year list price declines, "suggesting a growing optimism on the part of sellers about 2012 market conditions," according to Realtor.com. http://realtormag.realtor.org/daily-news/2011/12/22/10-cities-where-list-prices-soared-last-month A688A796-E271-4EAF-B688-FE32B3252AD4 Fri, 23 Dec 2011 08:02:58 -0800 Freddie Mac reports 30-year fixed averaged 3.91 percent for the week, a new all-time low, dropping below last week's 3.94 percent, the previous record low. http://freddiemac.mediaroom.com/index.php?s=12329&item=97947 6BEFD795-4F08-48B2-BD4D-DFD1E2A1E1B0 Thu, 22 Dec 2011 08:54:08 -0800 By the time this year ends, homes in Riverside and San Bernardino counties will have lost $14 billion in value, almost triple the $5 billion lost in 2010, according to a report by Zillow Real Estate Research. http://www.pe.com/business/business-headlines/20111221-real-estate-drop-in-home-values-far-exceeds-2010.ece D12D8C5B-D8B5-4429-90C8-4E86223FE4FE Thu, 22 Dec 2011 08:50:48 -0800 The California Association of Realtors is taking steps to warn consumers that during the holiday season they are at particular risk from scammers who offer phony mortgage modification schemes. It is distributing a public service announcement to television and radio stations statewide. http://www.pe.com/business/business-insider-headlines/20111219-real-estate-realtors-warn-of-holiday-mortgage-scams.ece F86E009B-38A1-474B-8081-65F2DEF1C47A Thu, 22 Dec 2011 08:49:53 -0800 A tax break for about 160 million U.S. workers is set to expire at the end of this year and House Republicans and Senate Democrats are battling over how to extend it. http://www.cnbc.com/id/45765160 C36D713A-CDDD-4228-ABF4-CCAB906FE31A Thu, 22 Dec 2011 08:43:55 -0800 The DOL reports in the week ending December 17, the advance figure for seasonally adjusted initial claims was 364,000, a decrease of 4,000 from the previous week's revised figure of 368,000. http://www.calculatedriskblog.com/2011/12/weekly-initial-unemployment-claims_22.html 712DFC11-4A40-4F74-8D47-D12298030F8C Thu, 22 Dec 2011 08:34:42 -0800 Consumer sentiment improved in December to its highest level in six months as Americans felt better about the economy's prospects for the year ahead, a survey released on Thursday showed. http://www.cnbc.com/id/45764173 1FE841DA-4CAD-4BA1-AD8E-66CCB049CA8F Thu, 22 Dec 2011 08:42:39 -0800 Newly initiated home foreclosures by the large national banks increased 21.1% in the three months ending Sept. 30 as mortgage servicers lifted voluntary holds on such activity because of paperwork problems, the Office of the Comptroller of the Currency reported Wednesday. http://latimesblogs.latimes.com/money_co/2011/12/home-foreclosures-jumped-in-third-quarter-federal-report-says.html 5B326F43-8BDA-4EC8-A942-65D5436852FF Thu, 22 Dec 2011 08:39:40 -0800 Existing-home sales rose again in November and remain above a year ago, according to the National Association of Realtors®. Also released today were periodic benchmark revisions with downward adjustments to sales and inventory data since 2007, led by a decline in for-sale-by-owners. http://www.realtor.org/press_room/news_releases/2011/12/ehs_nov 67E86638-54E4-4E15-8763-81B4553C5A8A Wed, 21 Dec 2011 07:32:45 -0800 CoreLogic® Reports Shadow Inventory as of October 2011 Still at January 2009 Levels. http://www.calculatedriskblog.com/2011/12/corelogic-existing-home-shadow.html B514C636-A74F-4CAA-8087-35B16DEE912C Wed, 21 Dec 2011 07:28:33 -0800 The Mortgage Bankers Association reports their Refinance Index decreased 1.6 percent from the previous week. The seasonally adjusted Purchase Index decreased 4.9 percent from one week earlier. http://www.mortgagenewsdaily.com/12212011_applications_survey.asp 4B24FC0C-1907-4F1E-9082-8D55648A8993 Wed, 21 Dec 2011 07:24:18 -0800 Seal Beach leaders say the project, which includes a 12-story mid-rise building, will clog the congested roads even more while threatening wildlife at a nearby marine habitat. http://lansner.ocregister.com/2011/12/20/o-c-residents-protesting-long-beach-development/155979/ DF2D8748-735A-4766-B4DC-05AC693A9E85 Wed, 21 Dec 2011 07:22:19 -0800 California Atty. Gen. Kamala D. Harris has filed suit against mortgage titans Fannie Mae and Freddie Mac for refusing to answer subpoenas issued to the companies this year. http://latimesblogs.latimes.com/money_co/2011/12/californias-sues-mortgage-titans-fannie-mae-and-freddie-mac.html CE2F6EC9-FB08-4B9E-BED3-11F225D720C9 Wed, 21 Dec 2011 07:20:27 -0800 The House Tuesday rejected a plan backed by President Barack Obama that would have extended a 2-percent payroll tax cut for two months and bought time for talks on a full-year renewal. http://finance.yahoo.com/news/House-GOP-rejects-2-month-apf-2117955744.html?x=0 64D2E995-6023-45A9-B5B6-FBFD0029B2E8 Tue, 20 Dec 2011 10:52:43 -0800 Fannie Mae reports fourth-quarter economic activity indicates that 2011 will end on a positive note. Nevertheless, the U.S. economy continues to face many obstacles, with momentum expected to slow going into 2012. http://www.fanniemae.com/portal/about-us/media/financial-news/2011/5592.html 41A8884F-67C4-4574-8BD5-D2C28507214E Tue, 20 Dec 2011 10:48:17 -0800 The California Association of Realtors reported that sales of existing single-family homes increased statewide for a fifth consecutive month in November from the year before. http://lansner.ocregister.com/2011/12/20/calif-house-sales-up-prices-down/155929/ C05D5907-315F-49CB-B421-4059023CCD83 Tue, 20 Dec 2011 10:44:16 -0800 Except for Nevada and California. Nevada continued to record the highest unemployment rate among the states, 13.0 percent in November. California posted the next highest rate, 11.3 percent. http://www.bls.gov/news.release/laus.nr0.htm 00B6BDA6-B8D0-49D0-86D8-A4B5F35B1507 Tue, 20 Dec 2011 10:35:40 -0800 U.S. housing starts surged to a 1-1/2 year high in November and permits for future construction were the highest since March 2010 as demand for rental apartments rose, offering hope for the weak housing market. http://www.calculatedriskblog.com/2011/12/housing-starts-increase-in-november.html EFE54DCA-BD38-44C5-AE3F-1CAC1D2BDEFF Tue, 20 Dec 2011 07:49:19 -0800 House Republicans will defeat a short-term extension of the payroll tax cut approved by the Senate and push for a full-year extension that would prevent a tax hike on some 160 million Americans, House Speaker John Boehner said Monday. http://www.cnbc.com/id/45723370 9248CD23-4A98-4501-B59E-F5C9B835BDFA Mon, 19 Dec 2011 08:28:51 -0800 Builder confidence in the market for newly built, single-family homes edged up two points from a downwardly revised number to 21 on the National Association of Home Builders/Wells Fargo Housing Market Index for December. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14384 370C4F16-B107-47CE-B361-9500489B2B45 Mon, 19 Dec 2011 08:22:47 -0800 The number of distressed properties across the nation has resulted in a range of effects. Most notably, though, has been the effect on non-distressed homes in neighboring areas and communities. http://realtytimes.com/rtpages/20111219_realestateoutlook.htm 0EA9384A-C738-4927-B108-85C597B03EE4 Mon, 19 Dec 2011 08:21:06 -0800 Coming up with a down payment is often a first-time home buyer’s biggest challenge - that’s why many of them get help from relatives or friends. Here’s what home buyers should know about down-payment gifts. http://www.marketwatch.com/story/dont-let-down-payment-gifts-hold-up-your-mortgage-2011-12-19 ED58F416-4CB9-4673-8197-D5CBA55B6D4D Mon, 19 Dec 2011 08:13:39 -0800 California's dark days of budget deficits and severe spending cuts may be nearing an end. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/12/18/MNDB1MD1IH.DTL 64BF2BCA-A5CC-4FB7-8207-18A9C8BE5333 Mon, 19 Dec 2011 08:05:23 -0800 Riverside County's unemployment rate fell to 12.8 percent in November, down from a revised 13.7 percent in October and sharply lower than the year-ago estimate of 14.8 percent. http://www.nctimes.com/business/economy-job-picture-improves-in-november-as-economy-begins-to/article_8f5e728c-163b-502e-8ae4-31c076c6d0d3.html A591D98F-2062-4277-A7C5-6408A5DFBF2A Mon, 19 Dec 2011 08:00:36 -0800 President Barack Obama, rebuffed by Congress on a yearlong extension of a Social Security payroll tax cut, said Saturday that it would be "inexcusable'" for lawmakers not to lengthen the short-term deal when they return from their holiday break. http://finance.yahoo.com/news/Obama-wants-payroll-tax-apf-3241831594.html?x=0 9135BB40-FDF7-4198-9880-F9D80E994080 Sat, 17 Dec 2011 21:27:19 -0800 Who is paying for the two-month extension of the payroll tax cut working its way through Congress? The cost is being dropped in the laps of most people who buy homes or refinance beginning next year. http://www.cnbc.com/id/45708514 6A5A0F41-2315-4B01-8535-1BD6BF3F23CA Sat, 17 Dec 2011 21:24:40 -0800 The U.S. Senate voted on Saturday to extend a payroll tax cut for two months in legislation that also attempts to force President Barack Obama to approve construction of an oil pipeline. http://www.cnbc.com/id/45707425 605D3750-9F59-4CC7-8149-49F4242AFC5F Sat, 17 Dec 2011 08:47:58 -0800 Freddie Mac announced today that the company reached an agreement with the Securities Exchange Commission related to its investigation into the company's exposure to subprime and Alt-A mortgages. http://freddiemac.mediaroom.com/index.php?s=12329&item=97269 14D80985-2E74-47E7-8687-BEAC346EBD21 Sat, 17 Dec 2011 08:43:58 -0800 A new count on homelessness found that 2.1% fewer people were homeless this January than the year before, the U.S. Department of Housing and Urban Development announced this week. http://www.marketwatch.com/story/fewer-people-homeless-according-to-recent-data-2011-12-16 927294B6-FC8A-4B87-B3C8-2EC8922DE795 Sat, 17 Dec 2011 08:38:34 -0800 ommercial real estate investor and developer Robert M. "Bob" Campbell, co-founder CT Realty Corp. of Aliso Viejo, died Thursday at age 71. http://lansner.ocregister.com/2011/12/16/o-c-developer-campbell-dies-at-71/155726/ 3648BC4A-62A3-4BE6-B42E-554BC1608A2A Sat, 17 Dec 2011 08:36:44 -0800 The industry can use any bits of good news, so it’s a tad uplifting that a few national reports show a late autumn price stabilization in home prices. http://lansner.ocregister.com/2011/12/16/u-s-home-prices-stabilizing/155516/ BD6D788A-5D87-436D-85D8-357467C51C31 Sat, 17 Dec 2011 08:34:33 -0800 Four people involved in an Oceanside loan modification business that ripped off homeowners across the country for $11 million pleaded guilty Friday in federal court to a variety of charges, including conspiracy to commit wire fraud, money laundering and tax evasion. http://www.signonsandiego.com/news/2011/dec/16/men-sentenced-for-11-million-in-mortgage-fraud/ 9410B4F4-55B3-456D-818D-D356B6EE40C8 Sat, 17 Dec 2011 08:31:45 -0800 Nevada has filed suit against a major player in the foreclosure business, Lender Processing Services, claiming the company is responsible for perpetrating widespread consumer fraud in the Silver State. http://latimesblogs.latimes.com/money_co/real_estate/ 0E1F9218-B3B9-4821-9571-6860F5BE2ACA Sat, 17 Dec 2011 08:28:41 -0800 The Securities and Exchange Commission charged six former executives of Fannie Mae and Freddie Mac with securities fraud on Friday for misrepresenting their holdings of high-risk mortgage loans. http://money.cnn.com/2011/12/16/news/companies/fannie_freddie_sec/index.htm?iid=HP_LN 085D7CD9-32F0-41D2-8F06-BA56840AC493 Sat, 17 Dec 2011 08:24:38 -0800 An estimated 32,669 new and resale houses and condos were sold statewide last month. That was down 4.2 percent from 34,087 in October, and up 4.0 percent from 31,403 for November 2010. http://www.dqnews.com/Articles/2011/News/California/RRCA111214.aspx 8EF549A1-12CB-4586-955F-2FE787021BBC Sat, 17 Dec 2011 08:23:20 -0800 The Consumer Price Index for All Urban Consumers was unchanged in November on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.4 percent before seasonal adjustment. http://www.calculatedriskblog.com/2011/12/bls-cpi-unchanged-in-november.html 856730BF-49F8-4284-B297-04049A02B795 Fri, 16 Dec 2011 07:35:20 -0800 California consumer confidence tumbled in November to its lowest level in two years, reports Chapman University. http://economy.ocregister.com/2011/12/15/california-consumers-grow-glum/100766/ 5E065440-FF81-4AE9-BB0A-30FEDEDBAFF2 Fri, 16 Dec 2011 06:52:39 -0800 Their poll numbers sinking, their constituents badly bruised by economic hardship and with millions of American workers about to get a sudden and unexpected tax increase, what are members of Congress discussing? http://www.cnbc.com/id/45681778 92644D43-BDFD-4EC4-A378-6F35CBCF5302 Thu, 15 Dec 2011 07:38:04 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.94 percent with an average 0.8 point for the week ending December 15, 2011, down from last week when it averaged 3.99 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=96704 D2EFC547-4F92-46D5-9E1F-FB45B2DBCA46 Thu, 15 Dec 2011 07:35:42 -0800 The DOL reports in the week ending December 10, the advance figure for seasonally adjusted initial claims was 366,000, a decrease of 19,000 from the previous week's revised figure of 385,000. http://www.calculatedriskblog.com/2011/12/weekly-initial-unemployment-claims_15.html 8BE9E415-A53D-4FB6-AC29-0775D9A43C0E Thu, 15 Dec 2011 07:31:51 -0800 Despite a seasonal slowdown in overall foreclosure activity, and a process still bogged down and backed up by the "robo-signing" processing scandal, the U.S real estate market is about to be hit by another surge of bank repossessions, according to a new report from the online foreclosure sale site RealtyTrac. http://www.cnbc.com/id/45682960 C8E0456F-B000-4A49-A877-BDABE4A11C67 Thu, 15 Dec 2011 07:25:11 -0800 Bank seizures of U.S. homes fell to their lowest level in nearly three years in November and fewer first-time default notices were sent to homeowners, a report by RealtyTrac said on Thursday. http://www.cnbc.com/id/45680619 E03B7D9E-7CC1-488C-8329-5BCFF075B20A Thu, 15 Dec 2011 07:23:22 -0800 The Federal Reserve reports the Household Debt Service Ratio is back to 1994 levels, however mortgage financial obligations remain elevated. http://www.calculatedriskblog.com/2011/12/fed-household-debt-service-ratio-back.html 60BA5635-CD1C-41CE-8188-FA02948F87C4 Thu, 15 Dec 2011 07:19:32 -0800 Mortgage fraud activity slowed overall in the third quarter, but California ranks first in home loan fraud, with the state seeing as much as $204.2 million in losses on deceptive mortgage activity. http://www.housingwire.com/2011/12/14/california-ranks-no-1-for-mortgage-fraud 7AA64A96-863F-4D2A-AE95-A68718D30D57 Thu, 15 Dec 2011 07:13:41 -0800 Household formation has slowed dramatically since the recession, as cash-strapped families double up and unemployed recent college graduates are unable to leave behind their parents’ couches. http://www.calculatedriskblog.com/2011/12/excess-vacant-housing-supply.html 1CF4CBF1-5965-463F-BACA-7576E5E0902A Thu, 15 Dec 2011 07:10:55 -0800 The Senate has wrapped itself into a partisan tangle over its year-end tax and spending business. http://finance.yahoo.com/news/Leaders-block-quick-Senate-apf-1879323013.html?x=0 9F50E644-3775-40A6-A2CC-1937DC153A18 Wed, 14 Dec 2011 07:27:58 -0800 Today’s market presents a difficult mix of conditions for many sellers. The housing market dipped in recent years in response to recession conditions and continues to struggle. http://realtytimes.com/rtpages/20111214_sell.htm EF83AA8C-7E70-4730-91A5-4FEB37853B39 Wed, 14 Dec 2011 07:19:54 -0800 House flippers - made up of investors who bought up homes during the housing boom, possibly made a few upgrades to the home, and quickly resold the homes for high-dollar profit - played a larger role in causing the housing bubble than previously thought, according to a new federal report out by the Federal Reserve Bank of New York. http://realtormag.realtor.org/daily-news/2011/12/13/house-flippers-blame-for-housing-downturn B59A7C09-EBA1-417B-A98B-2F3DEFB6D94A Wed, 14 Dec 2011 07:16:32 -0800 The MBA reports their Refinance Index increased 9.3 percent from the previous week to its highest level since November 4, 2011. The seasonally adjusted Purchase Index decreased 8.2 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/79021.htm D99C9415-7F8C-4AD1-8F75-2C214986494B Wed, 14 Dec 2011 07:08:58 -0800 Although the number of sales were up in 79% of O.C. Zip Codes, 62 of O.C.’s 83 ZIP codes with declines in their respective median selling price. http://lansner.ocregister.com/2011/12/13/home-prices-dip-in-62-zips-yours/155419/ AEDB536D-73FC-4D90-AE00-E1117A1D0C46 Wed, 14 Dec 2011 07:03:58 -0800 The number of homes sold in Southern California rose modestly last month from both October and a year earlier as investors and first-time buyers targeted homes priced below $400,000. Sales above $500,000 fell nearly 16 percent from a year earlier amid a troubled market for larger home loans, a real estate information service reported. http://www.dqnews.com/Articles/2011/News/California/Southern-CA/RRSCA111213.aspx 7DEC7928-AF7F-4F8B-8163-A8003024E5E2 Wed, 14 Dec 2011 07:00:14 -0800 The Republican-controlled House has passed legislation sought by President Barack Obama to extend Social Security payroll tax cuts through 2012. But the bill also includes a requirement for construction of an oil pipeline that has drawn a veto threat. http://finance.yahoo.com/news/Republicans-muscle-tax-cut-apf-1007352223.html?x=0 FDD47155-910D-4AF8-8FB0-55DD97B52FAD Tue, 13 Dec 2011 16:22:21 -0800 Former House Speaker Newt Gingrich has surged to a wide lead over Mitt Romney for the 2012 Republican nomination, but either leading candidates would face a daunting path in the general election against President Obama, according to a new NBC News/Wall Street Journal poll. http://www.cnbc.com/id/45660982 23FD8B2C-76CC-4A02-8750-BEE20EBC2C1D Tue, 13 Dec 2011 16:19:30 -0800 "All the sales and inventory data that have been reported since January 2007 are being downwardly revised. Sales were weaker than people thought," NAR spokesman Walter Malony told Reuters. http://www.cnbc.com/id/45659547 A90C84CC-23B3-4AE4-883D-BBCD4FB8D5D4 Tue, 13 Dec 2011 15:18:37 -0800 Dodd-Frank and other costly regulations are punishing businesses, keeping them from expanding and creating more jobs, hedge fund investor Ken Langone told CNBC Tuesday. http://www.cnbc.com/id/45655766 3C302419-FA55-4508-81CC-AD4D7B171F33 Tue, 13 Dec 2011 13:11:58 -0800 Republicans claimed enough support to muscle legislation through the House that would continue a payroll tax cut for 160 million workers, a vote that will shift the battleground to a far less receptive Senate. http://finance.yahoo.com/news/Republicans-plan-House-OK-apf-1007352223.html?x=0 D97B4F86-FD7C-4715-9B86-96B840A143C4 Tue, 13 Dec 2011 08:06:39 -0800 "Congress is essentially proposing to raise taxes on millions of potential home buyers in order to pay for a payroll tax cut and other non-housing legislative initiatives. With the housing market struggling to regain its footing, such a short-sighted move would be extremely counterproductive and threaten the fragile economic recovery." - Bob Nielsen, NAHB Chairman http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14351 3CAE3817-B0E6-4094-808F-BD3A565E67FD Tue, 13 Dec 2011 08:03:27 -0800 The BLS reports the number of job openings in October was 3.3 million, essentially unchanged from 3.4 million in September. http://www.calculatedriskblog.com/2011/12/bls-job-openings-essentially-unchanged.html 0D5EDB3A-4FB4-47C6-A69A-C9030E0B5974 Tue, 13 Dec 2011 08:01:02 -0800 The Big Orange Property Owner index was 126 for the third quarter - that's down 1.4% vs. the previous three months and up 8.31% vs. a year earlier. http://www.ocregister.com/articles/index-331229-property-big.html A1812352-21B5-4C11-99A5-C4BBBD2AFA36 Tue, 13 Dec 2011 07:58:01 -0800 The Obama administration's initial foreclosure-prevention programs, launched in early 2009, were intended to help 7 million to 9 million people. So far, they've aided about 2 million, and not all of those are out of foreclosure danger. http://www.usatoday.com/money/economy/housing/story/2011-12-11/foreclosure-aid-program-what-went-wrong/51815400/1 0FD64E2C-1365-4E40-91CD-BDAD4ED502A2 Tue, 13 Dec 2011 07:54:19 -0800 It does look like GDP growth will be slightly above trend in Q4, but this is still weak growth considering all the slack in the economy. http://www.calculatedriskblog.com/2011/12/little-better-gdp-growth-in-q4.html 7AB9805B-9A6D-4D09-876A-2535EE4977E7 Tue, 13 Dec 2011 07:51:34 -0800 In an interview with 60 minutes, President Obama said unemployment needs to get down to 8% in order for him to be reelected. Many forecasters think the unemployment rate will increase next year because of sluggish growth. http://www.calculatedriskblog.com/2011/12/jobs-needed-to-reach-8-unemployment.html 73E92845-EE44-4B40-ADFB-BC07EAA2575C Tue, 13 Dec 2011 07:46:24 -0800 "Recently, the overwhelming media coverage of the current financial crisis has made homeowners aware -- or at least alerted them to become aware -- of their equity position in their home," said Michael Seiler who headed the study for MBA. http://www.siouxcityjournal.com/advertorial/siouxland_homes/more-homeowners-opt-for-strategic-default/article_66283a8c-323a-5d3b-ac6c-8fa4029268b1.html B5C12549-62FC-40FA-AC5D-726278D863B2 Mon, 12 Dec 2011 12:30:09 -0800 The number of homes for sale has dropped to its lowest level in nearly two years as the holiday homebuying lull takes hold, according to figures from Steve Thomas of ReportsOnHousing.com. http://lansner.ocregister.com/2011/12/12/inventory/155378/ EA41F71B-F809-4376-9E1F-9DB36781CC65 Mon, 12 Dec 2011 11:14:32 -0800 National U.S. home sales figures will be lowered dating back to 2007 after the private trade group that collects the figures says the numbers were too high. http://finance.yahoo.com/news/Home-sales-figures-2007-10-apf-2752244342.html?x=0 6EA744C0-0A4F-4E31-B603-D3AAEE62C911 Mon, 12 Dec 2011 11:11:07 -0800 Congress may raise the fees paid to Fannie Mae and Freddie Mac in order to cover the payroll-tax cut. http://www.cnbc.com/id/45642408 F5D7C437-0B50-4B9D-98F2-6FB19B5E1618 Mon, 12 Dec 2011 11:06:37 -0800 Senate Republican Leader Mitch McConnell said on Sunday that Congress will somehow reach an agreement to renew a popular payroll tax cut set to expire at the end of this month. http://www.cnbc.com/id/45637005 10B3F23B-58ED-4FF6-BD33-2959ACAE5BC9 Mon, 12 Dec 2011 08:06:15 -0800 Anti-Wall Street protesters along the West Coast joined an effort Monday to blockade some of the nation's busiest docks, with the idea that if they cut off the ports, they cut into corporate profits. http://finance.yahoo.com/news/Occupy-protesters-seek-shut-apf-593045836.html?x=0 B249358A-B715-44B4-9B04-92660314C8F9 Mon, 12 Dec 2011 08:05:12 -0800 The unemployment rate is on the decline, at least it was for the month of November, according to the Bureau of Labor Statistics. It is now at 8.6 percent, as employment rose by 120,000. http://realtytimes.com/rtpages/20111212_realestateoutlook.htm CAEDE72C-C705-498D-A019-C8F85E8B8E7E Mon, 12 Dec 2011 08:02:30 -0800 U.S. online sales in the holiday season to date are up 15 percent to $24.6 billion, according to comScore. http://finance.yahoo.com/news/US-online-holiday-sales-15-apf-4230545933.html?x=0 F51D1F05-E04E-48AD-A879-8BFA46F025C9 Sun, 11 Dec 2011 23:03:39 -0800 Setting a new bar for the nation's economy, President Barack Obama said the United States unemployment rate could fall to 8 percent before he faces re-election next November. http://finance.yahoo.com/news/Obama-says-jobless-rate-drop-apf-2024467673.html?x=0 ABCBF038-D368-4EEA-89F4-CF2CFBB7ACCD Sun, 11 Dec 2011 23:01:15 -0800 A recent survey by Houselogic.com, the consumer website from the National Association of Realtors®, finds that jobs and the housing market will be two of the most important issues for voters in the 2012 election. http://www.realtor.org/press_room/news_releases/2011/12/houselogic_survey 15D64A8C-1332-4B74-A642-411566744D1E Sun, 11 Dec 2011 22:58:20 -0800 647 homes sold in Orange County’s north-inland ZIP codes in this most recent period, up 6% from a year ago - best gain among our four regional slices. http://lansner.ocregister.com/2011/12/11/north-o-c-has-fastest-homebuying-growth/155368/ DD24CAA2-8EFE-434D-9A83-701CBC9B4B56 Sun, 11 Dec 2011 22:55:20 -0800 U.S. mortgage debt, a driver of consumer spending during the real estate boom, dropped to the lowest level in almost five years in the third quarter as foreclosures wiped out home loans and housing purchases fell. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/12/09/BU7U1MA2OB.DTL EE9C5AFB-6BD3-4180-899E-9A2BF077A6B8 Sun, 11 Dec 2011 22:50:54 -0800 After half a decade of withering sales and slumping prices, there are strong and diverse signs that the single-family housing market is poised for a rebound. http://www.cnbc.com/id/45599691 8A58B801-9D0E-4438-82DA-402C41D06D90 Fri, 9 Dec 2011 13:41:39 -0800 The preliminary December Reuters / University of Michigan consumer sentiment index increased to 67.7, up from the November reading of 64.1. http://www.calculatedriskblog.com/2011/12/consumer-sentiment-increases-in.html 2A4F1BA8-BC9F-4A50-8017-93BE534360FA Fri, 9 Dec 2011 07:22:06 -0800 According to the latest Realtors® Confidence Index survey, distressed real estate sales fell to 28 percent of the total market in October, down from 30 percent in September. http://economistsoutlook.blogs.realtor.org/2011/12/02/distressed-real-estate-down-to-28-percent-of-the-market/ 38856544-466C-431D-B508-42595BC43947 Fri, 9 Dec 2011 07:14:20 -0800 If you want to best view the local economic rebound through the real estate prism, try the rental slice, not ownership trends, to see curious progress. http://www.ocregister.com/articles/graham-330644-local-apartment.html 9EA4E233-989C-4A4E-A28A-64F3093C844F Fri, 9 Dec 2011 07:11:32 -0800 The most interesting trend in the recent data release is the California fertility numbers. The state’s births in 2011 were just 511,000. These are the lowest numbers of births in California since 1987, when they were 493,000. http://lansner.ocregister.com/2011/12/08/analyst-calif-birth-rate-a-24-year-low/155242/ B28A162B-40F5-4152-971F-A3795A6F673E Fri, 9 Dec 2011 07:08:15 -0800 The average down payment on a home in California is 13.22 percent, well below the 20 percent being proposed by U.S. regulators, show Thursday's findings from online mortgage company Lending Tree. http://www.signonsandiego.com/news/2011/dec/08/state-highest-home-down-payments/ A53D2378-4590-4116-8F08-5B0D5F6B3F83 Fri, 9 Dec 2011 07:04:31 -0800 The 50-48 vote fell 10 votes short of the 60 needed. A rival GOP proposal was also doomed to lose. The vote marks the latest round in the partisan battle over a keystone of President Barack Obama's jobs plan. http://finance.yahoo.com/news/Senate-rejects-Democratic-apf-3093357142.html?x=0 F98A2AAD-C0EB-4745-9345-FB742EAD04A2 Thu, 8 Dec 2011 12:11:02 -0800 One out of three builders are reporting losing signed sales contracts during the preceding six months because appraisals on their homes are less than the contract sales price, according to a recent nationwide survey conducted by the National Association of Home Builders. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14186 DB00D9A0-C5EE-4700-9FE7-043AEF33DB0C Thu, 8 Dec 2011 12:06:50 -0800 In a letter to the Federal Housing Finance Agency, the trade group said no one has made a compelling case for why the current model needs to be tweaked. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78989.htm 7D165626-E586-4586-BF41-BAE99A4D0482 Thu, 8 Dec 2011 11:59:13 -0800 The U.S. Treasury said Wednesday that it will continue to withhold incentives from JPMorgan Chase and Bank of America for modifications, short sales, and deeds-in-lieu completed through government programs. http://www.dsnews.com/articles/index/treasury-continues-to-withhold-foreclosure-prevention-incentives-from-two-2011-12-07 2F6DF5ED-65EC-4DB8-B695-DF852AD61D55 Thu, 8 Dec 2011 11:57:57 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.99 percent with an average 0.7 point for the week ending December 8, 2011, down from last week when it averaged 4.00 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=95994 AE82DC0D-B4AB-4D99-AA8A-CC85A24F0D03 Thu, 8 Dec 2011 07:05:48 -0800 The DOL reports in the week ending December 3, the advance figure for seasonally adjusted initial claims was 381,000, a decrease of 23,000 from the previous week's revised figure of 404,000. http://www.calculatedriskblog.com/2011/12/weekly-initial-unemployment-claims_08.html C326AA29-9AAC-44A9-897F-451499EE281B Thu, 8 Dec 2011 07:02:52 -0800 Reforming the secondary mortgage market is essential to ensuring a reliable source of mortgage lending for consumers in all types of markets and is integral to the nation’s economic and housing recovery, the National Association of Realtors® said in testimony today. http://www.realtor.org/press_room/news_releases/2011/12/mortgage_finance_reform 4C29FD8E-BFA5-49CF-863C-38B65D11E065 Thu, 8 Dec 2011 07:01:29 -0800 Two Orange County men were arrested on charges of theft and conspiracy in what state prosecutors called a $6 million mortgage modification scam that victimized thousands of financially troubled homeowners across the nation. http://lansner.ocregister.com/2011/12/07/2-o-c-men-charged-in-6-million-loan-mod-scam/155193/ 90EB636B-6E06-4956-9B8A-B0E70B9B63A3 Thu, 8 Dec 2011 06:54:36 -0800 A Spanish language website to help Spanish speaking people search for homes to buy in California was launched this month by the California Association of Realtors. http://www.pe.com/business/business-insider-headlines/20111205-real-estate-spanish-language-website-launched-for-home-shopping.ece 847CCFF3-8B2C-48AD-BD85-AF815FEDCCD8 Thu, 8 Dec 2011 06:52:35 -0800 "Our forecast calls for the median selling price of a single-family unit ... (to) remain flat in Orange County in 2012." - Chapman University http://lansner.ocregister.com/2011/12/07/chapman-no-home-price-gain-for-2012/155111/ 4AC7EAB7-3600-4778-A7E9-4F9BD0EDE3C7 Wed, 7 Dec 2011 07:26:23 -0800 The seasonally adjusted Purchase Index increased 8.3 percent from one week earlier to its highest level since August 5, 2011. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78974.htm 4F73A81D-17FA-4A73-9514-73F7598651D4 Wed, 7 Dec 2011 06:57:45 -0800 The survey of 800 Americans across the country shows that the average American plans to spend $751 on gifts this year, up 22 percent from last year’s spending plans. The number would represent a healthy 4.6 percent gain over actual holiday spending in 2010 as measured by the National Retail Federation. http://www.cnbc.com/id/45552218 E718F51C-AC57-4DC0-8C2A-BD3F31C8F3A5 Wed, 7 Dec 2011 06:56:38 -0800 Credit reporting agency TransUnion forecasts that if the U.S. economy does not suffer more setbacks, the rate of mortgage holders behind on their payments should decline significantly by the end of next year. http://finance.yahoo.com/news/2012-Mortgage-delinquencies-apf-916050151.html?x=0 03618568-8FBD-4128-A611-95A3B3B1F102 Tue, 6 Dec 2011 23:07:46 -0800 The commercial banks on which home builders and developers largely rely to finance their projects continued in this year’s third quarter to hold tight reins on acquisition, development and construction loans (AD&C), according to the most recent quarterly survey by NAHB’s Economics and Housing Policy Group on the availability of credit to the housing industry. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14145 D11C940B-B687-4F34-9C0C-4354C75935C7 Tue, 6 Dec 2011 23:05:31 -0800 During the third quarter, delinquency rates declined for commercial and multifamily mortgages held by banks and in commercial mortgage backed securities. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78959.htm 48184432-F0BE-4DC9-8033-C68B7E1232C1 Tue, 6 Dec 2011 23:03:42 -0800 Three more notaries have been charged in the massive foreclosure fraud case that already has ensnared two Orange County title officers. http://lansner.ocregister.com/2011/12/06/3-more-charged-in-nevada-mortgage-fraud-case/155084/ 42A34F46-4FE7-44E1-A363-8D95E4198647 Tue, 6 Dec 2011 23:00:47 -0800 Orange County real estate owners will get two extra days to pay their first installments of their 2011-2012 secured property taxes! http://lansner.ocregister.com/2011/12/06/property-tax-deadline-extended-two-days/155100/ F37CFBFA-0648-4BE9-B3B1-AC7D6298AEAC Tue, 6 Dec 2011 22:59:36 -0800 Occupy Wall Street and other housing activists are heading to neighborhoods hit hard by foreclosure Tuesday to protest the mistreatment of homeowners by mortgage lenders. http://money.cnn.com/2011/12/05/real_estate/occupy_wall_street/index.htm?iid=HP_River 5AB9A31D-490C-4109-B82C-380F558C3CB3 Tue, 6 Dec 2011 22:57:15 -0800 The two states, which are at ground zero of the nation's housing bust, will join forces to probe allegations of foreclosure fraud and other wrongdoing in the mortgage markets, including the packaging and selling of mortgage-backed securities by Wall Street players and scams by smaller players offering to help troubled borrowers. http://www.latimes.com/business/realestate/la-fi-mortgage-probe-20111207,0,7895467.story 25BA5399-CD27-43AE-911C-9DE52F46F59C Tue, 6 Dec 2011 22:54:14 -0800 CoreLogic today released its October Home Price Index which shows that home prices in the U.S. decreased 1.3 percent on a month-over-month basis, the third consecutive monthly decline. http://www.calculatedriskblog.com/2011/12/corelogic-house-price-index-declined-13.html 22FCF10B-014C-40C9-AD9D-17BB34FA9594 Tue, 6 Dec 2011 22:52:18 -0800 Neil Dutta, US economist at Bank of America Merrill Lynch, said there are six other key points that also undermine any optimism gleaned from a superficial drop in the jobless rate. http://www.cnbc.com/id/45569450 89591528-1C12-4730-A7B5-9C8D1AC56C5B Tue, 6 Dec 2011 22:49:59 -0800 The problem is that while sales are improving slightly, and consumer sentiment may be settling a bit, the mess left to clean up from the past is still weighing heavily on the future. http://www.cnbc.com/id/45572245 5323DA1A-4CAE-4139-960C-1537B8E3CEB7 Tue, 6 Dec 2011 22:48:16 -0800 Toll Brothers Inc.'s fiscal fourth-quarter net income slid 70 percent, partly because last year's quarter was helped by a large tax benefit. http://finance.yahoo.com/news/Toll-Brothers-4Q-profit-falls-apf-1289994745.html?x=0 B9F66B47-7499-43CC-ADF2-8658FDF5B813 Tue, 6 Dec 2011 07:29:41 -0800 "I still think we won't see much improvement in 2012. In fact, I've said over and over and over that, in my opinion, 2012 will not be an easy financial year." - Suse Orman http://www.cnbc.com/id/45400672 B25B871C-FFED-4942-90BE-9DE56F37E92B Tue, 6 Dec 2011 07:27:12 -0800 Bank of America agreed to pay $315 million to settle claims by investors who said they were misled about mortgage securities offerings by its Merrill Lynch unit. http://www.cnbc.com/id/45567012 EACB2E18-48FC-4583-8226-E6B21547AA93 Tue, 6 Dec 2011 07:17:17 -0800 Using the deptofnumbers.com for monthly inventory, it appears inventory will be below the December 2005 levels this month. http://www.calculatedriskblog.com/2011/12/existing-home-inventory-declines-175.html 07D4A6DB-A5BD-4EF6-90D0-8D5828096020 Tue, 6 Dec 2011 07:12:58 -0800 Lender Processing Services, Inc., a leading provider of mortgage and real estate technology, data and analytics, today announced that its LPS Applied Analytics division updated its home price index with residential sales concluded during September 2011. http://www.lpsvcs.com/LPSCorporateInformation/NewsRoom/Pages/20111205.aspx 0FD5890E-9DCB-4915-ADDB-72B8BEA748B1 Tue, 6 Dec 2011 07:09:38 -0800 The number of improving housing markets continued to expand for a fourth consecutive month in December, rising from 30 to 41 on the latest National Association of Home Builders/First American Improving Markets Index (IMI), released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14068 47FCA69B-E12C-46F5-AA8E-0AB35F9EC73A Tue, 6 Dec 2011 07:04:47 -0800 Even Vitela, 36, acknowledged that buying a house you’ve never seen before might seem crazy. http://lansner.ocregister.com/2011/12/05/woman-buys-o-c-house-sight-unseen/155051/ 26266E52-A24D-4588-9D15-9D3DA7560908 Tue, 6 Dec 2011 07:00:15 -0800 Winter is an exceptionally slow season for home sales. But December and January have proven to be great months to own the stocks of home builders in recent years. http://www.pe.com/business/business-insider-headlines/20111205-real-estate-winter-bad-for-home-sales-good-for-builder-stocks.ece B85FC649-2777-4FB4-9C0C-891309D63AF9 Tue, 6 Dec 2011 06:56:34 -0800 "There’s a lot maneuvering on Capitol Hill," the reporter said. "If the mortgage interest deduction is in jeopardy, what’s Plan B"? http://www.spokesman.com/stories/2011/dec/04/theres-no-plan-b-if-mortgage-interest-deduction/ 4BCAF32F-B7D8-46C9-9E24-0CE7E8514FC3 Tue, 6 Dec 2011 06:52:50 -0800 U.S. Senate Democrats plan to offer a new proposal on Monday to extend a popular payroll tax cut amid signals that Republican leaders would accept a compromise that covers the cost to the federal Treasury. http://www.cnbc.com/id/45549974 BF9FFD73-C1C6-441E-A97A-B0173C9DE2C3 Mon, 5 Dec 2011 08:15:52 -0800 Unprecedented cuts by the cash-strapped U.S. Postal Service will slow first-class delivery next spring and, for the first time in 40 years, eliminate the chance for stamped letters to arrive the next day. http://finance.yahoo.com/news/Cuts-first-class-mail-slow-apf-1336233549.html?x=0 5E29EFBB-0CF8-4ED4-8CEF-4667612EB86F Mon, 5 Dec 2011 08:13:50 -0800 Home-insurance policies are pretty much the same, and carriers compete on the basis of price and service-right? Believe those two myths and you might wind up paying dearly. http://online.wsj.com/article/SB10001424052970204397704577070173118701582.html?mod=WSJ_RealEstate_LeftTopNews 4C85A497-D6B7-48B3-B5F3-6A324D75F69B Mon, 5 Dec 2011 08:10:33 -0800 People across the working spectrum suffered job losses in recent years: bricklayers and bookkeepers as well as workers in manufacturing and marketing. But only a select few workers have fully regained their footing during the slow recovery. http://www.cnbc.com/id/45523450 4411C6D7-3786-4DBF-BB14-61295E20CEF7 Fri, 2 Dec 2011 07:57:14 -0800 The U.S. economy created 120,000 jobs in November and the unemployment rate fell to 8.6%, its lowest level in more than two and a half years, the Labor Department said Friday. http://www.marketwatch.com/story/us-jobless-rate-falls-to-86120000-jobs-added-2011-12-02?link=MW_pulse 96174B22-9BD6-4B37-B9C6-ECA96F4DE329 Fri, 2 Dec 2011 07:47:15 -0800 Freddie Mac today announced it has ordered all evictions involving foreclosed occupied single family and 2-4 unit properties that had Freddie Mac mortgages to be suspended from December 19, 2011 to January 2, 2012. http://freddiemac.mediaroom.com/index.php?s=12329&item=93580 39C778D9-8CFD-4EE4-AD02-3CC8591ECD61 Fri, 2 Dec 2011 07:44:54 -0800 Two words that seem taboo in this down turned economy and horrific housing crisis are "Principal Reduction". http://realtytimes.com/rtpages/20111202_principalreduction.htm 43330408-7026-4BF8-9BFB-63D483717760 Fri, 2 Dec 2011 07:43:36 -0800 The Obama administration’s top housing official is finding himself in hot water on Capitol Hill amid mounting concerns that the Federal Housing Administration is on the verge of a taxpayer bailout. http://blogs.wsj.com/developments/2011/12/01/congress-worries-fha-could-be-fannie-freddie-the-sequel/?mod=WSJBlog&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+wsj%2Fdevelopments%2Ffeed+%28WSJ.com%3A+Developments+Blog%29 8B04454A-D88C-42B6-B08F-D2D629302103 Fri, 2 Dec 2011 07:40:26 -0800 The report from the Center for Responsible Lending, "Lost Ground, 2011," finds that at least 2.7 million mortgages loaned from 2004 through 2008, or about 6 percent, have ended in foreclosure and that nearly 4 million more home loans (roughly 8 percent) from the same period remain at serious risk. http://bucks.blogs.nytimes.com/2011/11/30/foreclosure-crisis-isnt-even-halfway-over-analysis-finds/?ref=business 89853B1A-0707-4001-924F-3223B30CBC0D Fri, 2 Dec 2011 07:36:45 -0800 Wells Fargo & Co on Thursday sued the United States claiming the San Francisco-based banking group was owed $350.4 million in tax overpayments going back more than a decade. http://www.reuters.com/article/2011/12/02/usa-tax-wellsfargo-idUSN1E7B01QL20111202?feedType=RSS&feedName=rbssFinancialServicesAndRealEstateNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FfinancialServicesRealEstateNews+%28News+%2F+US+%2F+Financial+Services+and+Real+Estate%29 016CD4DD-9333-405E-B72C-BE9983B1699D Fri, 2 Dec 2011 07:35:14 -0800 Overbuilding during the boom and falling employment during the bust have left Orange County with glut of about 10 million square feet of office space - equal to about 386 average-sized buildings. http://lansner.ocregister.com/2011/12/01/does-o-c-have-400-office-buildings-too-many/154913/ BE14E96A-0244-40B7-9BCF-AA52F5240B89 Fri, 2 Dec 2011 07:30:37 -0800 It will be "little" things like California large and mid-sized companies plugging along in the global economy that will play an important part in shoring up our economy and, thereby housing. http://lansner.ocregister.com/2011/12/01/analyst-housing-savior-california-exports/154955/ F7B92A54-7867-4A81-B64A-BEF4498F00BD Fri, 2 Dec 2011 07:28:42 -0800 California ranked sixth in the nation in negative equity, widely known as being "underwater" on your mortgage, based on the latest data from real estate tracker CoreLogic this week. http://www.signonsandiego.com/news/2011/dec/02/numbers-underwater-homes-calif/ 975DD3C2-114C-4BBA-AA09-4FAF01B1A200 Fri, 2 Dec 2011 07:24:15 -0800 Facing another budget deficit and the prospect of deep cuts to education, Gov. Jerry Brown plans to file a ballot initiative as early as Friday that asks voters to increase taxes on the wealthy and raise the sales tax by half a cent. http://finance.yahoo.com/news/Brown-administration-submit-apf-2981450299.html?x=0 3BDA90E8-9E0C-4071-9277-59743747EB47 Thu, 1 Dec 2011 13:37:56 -0800 Massachusetts sued five major banks Thursday over deceptive foreclosure practices such as the "robo-signing" of documents, potentially undermining negotiations between lenders and state prosecutors across the nation over the same issue. http://finance.yahoo.com/news/Massachusetts-sues-banks-apf-3340779243.html?x=0 E582D1B7-6841-4658-9410-D43CC3E9D77D Thu, 1 Dec 2011 13:35:36 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 4.00 percent with an average 0.7 point for the week ending December 1, 2011, up from last week when it averaged 3.98 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=93591 8A2883E4-8178-42E2-9B60-11FA7DBE6BF9 Thu, 1 Dec 2011 07:27:53 -0800 U.S. builders spent more in October on new homes, offices and shopping centers, pushing construction spending up for a third straight month. Despite the gains, construction spending remained depressed. http://www.cnbc.com/id/45508352 6DE13032-B28C-49A4-8D9B-F537DF99F588 Thu, 1 Dec 2011 07:27:15 -0800 The DOL reports in the week ending November 26, the advance figure for seasonally adjusted initial claims was 402,000, an increase of 6,000 from the previous week's revised figure of 396,000. http://www.calculatedriskblog.com/2011/12/weekly-initial-unemployment-claims.html A05CBC42-6751-49CB-889C-DA2ECBB2293E Thu, 1 Dec 2011 07:25:09 -0800 Foreclosures are setting new records again, this time not in their overall numbers, but in the time it is taking for all of these properties to be processed through the legal system. The average loan in foreclosure has now been delinquent a record 631 days, according to a new report from Florida-based Lender Processing Services. http://www.cnbc.com/id/45507581 1C68F20A-C082-40E3-81BC-0B38B492AF7E Thu, 1 Dec 2011 07:23:06 -0800 More than one in three Americans think it's okay to walk away from their mortgage, either to trigger lender assistance or because they don't think it's worth it to hold onto a home with a value that is less than the mortgage balance. http://realtytimes.com/rtpages/20111201_defaulters.htm 1818428C-C262-4787-B9F5-009AB0C64108 Thu, 1 Dec 2011 07:20:53 -0800 Fannie Mae reported that the Single-Family Serious Delinquency rate was unchanged at 4.00% in October. This is down from 4.52% in October of 2010. http://www.calculatedriskblog.com/2011/11/fannie-mae-and-freddie-mac-serious.html 7D1F71FC-35D2-4CF4-9EC2-264EDB90618D Thu, 1 Dec 2011 07:12:21 -0800 The number of Orange County homes that are worth less than the amount owed on them increased over the summer to the highest level this year, according to new figures from Santa Ana data giant CoreLogic. http://lansner.ocregister.com/2011/12/01/1-in-6-o-c-mortgages-still-under-water/154553/ 9D347FA3-855F-43DE-9AEB-94BF5E521876 Thu, 1 Dec 2011 07:11:13 -0800 The latest batch of non-payment cases all hail from Arizona, where at least 19 formal complaints have been filed to the state's appraisal board against the company, which lenders used as a third party to assign, manage and deliver finished appraisals. http://www.signonsandiego.com/news/2011/nov/30/san-diego-appraisal-company-under-review-ariz/ F955BD24-FBDB-4CA6-80BE-A70288793F0D Thu, 1 Dec 2011 06:58:26 -0800 A free seminar on real estate issues through the non-profit real estate organization HELP will be Friday from 8:30 a.m. to 4:30 p.m. at the offices of PRMG, 1265 Corona Pointe Circle in Corona. http://www.pe.com/business/real-estate-headlines/20111130-real-estate-seminar-friday-in-corona.ece B3ACE6DC-FAD7-48BD-8F7E-968D66DFBF2F Thu, 1 Dec 2011 06:55:03 -0800 Organizers said Tuesday that they plan to help families across America fight foreclosure and eviction next week by "occupying" those properties. http://latimesblogs.latimes.com/money_co/real_estate/ 94EA9210-C074-418A-B7E0-629E29CAD33A Thu, 1 Dec 2011 06:53:04 -0800 ZipRealty Inc. has agreed to pay $586,000 to settle claims by the California Labor Commissioner that the company failed to pay minimum and overtime wages to four of its agents in Kern County. http://www.inman.com/news/2011/11/30/ziprealty-settles-labor-suit-586000 EE591331-2544-44D5-947B-258FAB516C02 Thu, 1 Dec 2011 06:49:53 -0800 Consumers likely are more comfortable comparison-shopping for microwaves than mortgages because the home-loan process can be cumbersome, with reams of paperwork, unfamiliar jargon, and of course, the rush to close and move to a new place. http://www.signonsandiego.com/news/2011/nov/30/you-better-shop-around/ 636D8977-10A4-4B28-A856-06E5E1F3CF17 Thu, 1 Dec 2011 06:48:40 -0800 This should be a great time to buy a first home. Prices have sunk to 2002 levels. Sellers are waiting anxiously as homes languish on the market. Mortgage rates are their lowest ever. http://www.mercurynews.com/real-estate/ci_19440876 0B1F06F0-82FA-489A-BA63-62A96875C2A4 Thu, 1 Dec 2011 06:46:56 -0800 Pending home sales rose strongly in October and remain above year-ago levels, according to the National Association of Realtors®. http://www.realtor.org/press_room/news_releases/2011/11/phs_oct 65346488-7C57-413E-89C5-97226B9AAE14 Wed, 30 Nov 2011 07:12:07 -0800 ADP today reported that employment in the U.S. nonfarm private business sector increased by 206,000 from October to November on a seasonally adjusted basis. http://www.reuters.com/article/2011/11/30/us-usa-economy-idUSTRE7AL14I20111130?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28News+%2F+US+%2F+Business+News%29 0B61E223-A53C-4E38-B1A0-33A280A05D9B Wed, 30 Nov 2011 07:05:37 -0800 The Mortgage Bankers Association reports the Refinance Index decreased 15.3 percent from the previous week. The seasonally adjusted Purchase Index decreased 0.8 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78728.htm 4B18DE6C-CE29-4B0E-A32E-418EDD3EC195 Wed, 30 Nov 2011 07:03:30 -0800 Sales of newly built, single-family homes inched up 1.3 percent to a seasonally adjusted annual rate of 307,000 units in October, according to newly released data from the U.S. Commerce Department. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14051 6B38BFCF-6F05-4BB0-AB94-F531A21CE185 Wed, 30 Nov 2011 07:10:19 -0800 Seventy-five percent of small business owners said Americans are so financially unprepared for retirement that it's becoming a crisis, according to a survey by Nationwide Financials. http://www.cnbc.com/id/45475874 7C39393A-BBB5-409F-9151-D772AF7EDF08 Tue, 29 Nov 2011 22:17:51 -0800 Republican leaders said Tuesday they would join Democrats in supporting an extension of the 2011 payroll-tax cut ... virtually assuring that American wage-earners will continue to receive the benefit next year. http://www.calculatedriskblog.com/2011/11/report-payroll-tax-cut-extension-is_30.html 9295265F-28E7-4AA4-9CFB-FE21C7B1BC25 Tue, 29 Nov 2011 22:15:45 -0800 An estimated 10.7-million households, or 22.1% of all homes with mortgages, had more debt on the properties than they were worth in the third quarter, according to Santa Ana research firm CoreLogic. http://latimesblogs.latimes.com/money_co/2011/11/one-in-five-american-homes-underwater.html B65F21E4-7A32-42D8-8A18-1614F737298C Tue, 29 Nov 2011 22:03:37 -0800 U.S. consumer confidence bounced back from a 2-1/2 year low in November as apprehension about job and income prospects eased, according to a private sector report released Tuesday. http://www.cnbc.com/id/45476235 141BBE2A-1F4B-4939-AED1-95C3A7019526 Tue, 29 Nov 2011 07:32:43 -0800 The Standard & Poor's/Case-Shiller index of 20 American cities, a key measure that is closely watched by economists, fell 0.6% from August to September and 3.6% from September 2010. All of the California cities in the index posted declines from the prior month. http://latimesblogs.latimes.com/money_co/real_estate/ B0622C28-3DD5-4F3C-BD4E-29725F34E1A6 Tue, 29 Nov 2011 07:25:07 -0800 The Census Bureau reports median sales price of new houses sold in October 2011 was $212,300; the average sales price was $242,300. http://www.calculatedriskblog.com/2011/11/new-home-prices-average-lowest-since.html B0A152C7-C940-4A0D-BB29-03D8CF103261 Tue, 29 Nov 2011 07:21:26 -0800 The American dream will come true a lot less frequently in the next few years than it did before the recession hit, a real estate consultant said. http://www.pe.com/business/business-insider-headlines/20111128-real-estate-look-for-drop-in-home-ownership.ece 78281862-9C98-4AB7-921A-37F84867BC92 Tue, 29 Nov 2011 07:27:31 -0800 The Census Bureau reports New Home Sales in October were at a seasonally adjusted annual rate (SAAR) of 307 thousand. This was up from a revised 303 thousand in September (revised down from 313 thousand). http://www.calculatedriskblog.com/2011/11/new-home-sales-in-october-307000-saar.html BD308422-0E21-4F06-AF35-D589A7EAF16D Mon, 28 Nov 2011 07:23:02 -0800 Democratic Rep. Barney Frank of Massachusetts is expected to announce his retirement from Congress on Monday, closing out a career of more than three decades capped by passage last year of legislation imposing new regulations on Wall Street. http://finance.yahoo.com/news/Rep-Barney-Frank-retire-apf-2888383863.html?x=0 64C39658-4393-4EE2-9E82-9B8298D52873 Mon, 28 Nov 2011 07:22:04 -0800 The inventory experienced its biggest drop in five years. As is expected for the remainder of the year, the Orange County housing market has hit another new low for 2011, 9,172 homes. That’s after shedding 371 homes in the past two weeks, a 4% drop. http://www.ocregister.com/articles/market-328890-quickened-inventory.html 4790F162-C262-4AA8-81C9-FE4643C40274 Mon, 28 Nov 2011 07:15:12 -0800 The total homes listed for sale continue to move downward. The latest decline in October to 3.33 million was partly seasonal, as autumn and winter months nearly always have fewer listings in comparison with spring and summer months. http://economistsoutlook.blogs.realtor.org/2011/11/21/lowest-inventory-in-six-years/ 6C54DAD5-1A87-41C4-A5C2-3540FCC807E9 Fri, 25 Nov 2011 07:56:39 -0800 Brandywine Homes of Irvine has started construction of 53 homes at Century Village in Garden Grove. Century Village sits on 2.67 acres of land on Taft St. near the city’s civic center. http://lansner.ocregister.com/2011/11/24/builder-hopes-to-rekindle-garden-grove-housing/148863/ 7231FF98-397B-4B56-BA2A-3371FCEC5115 Fri, 25 Nov 2011 07:54:08 -0800 The number of house deals signed by homebuyers in California increased for a sixth consecutive month in October, although last year’s figures were low to begin with, California Association of Realtors figures show. http://lansner.ocregister.com/2011/11/23/calif-pending-home-sales-up-for-6th-month/152183/ 3D7AB263-2111-4C04-B3D9-A5E7BB9A9980 Fri, 25 Nov 2011 07:52:30 -0800 30-year fixed-rate mortgage averaged 3.98 percent with an average 0.7 point for the week ending November 23, 2011, down from last week when it averaged 4.00 percent. 1-year Treasury-indexed ARM averaged 2.79 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=89645 317DA5E8-6B9C-4E6C-9876-0D637A2A1361 Thu, 24 Nov 2011 10:22:42 -0800 U.S. home prices will stagnate through next year and only start recovering in 2013, according to economists polled by Reuters who also felt the stimulus options being floated will not do much to reinvigorate the market. http://www.cnbc.com/id/45416286 2B037E60-877B-436F-A811-B599F9870377 Wed, 23 Nov 2011 21:43:57 -0800 Orange County’s rating is 0.53, which means that for every 100 outsiders conducting searches of Orange County homes for sale or rent, 189 locals are looking at properties elsewhere, according to Trulia.com. http://lansner.ocregister.com/2011/11/23/more-want-to-leave-o-c-than-move-here/152013/ E62231F1-5434-4B06-A2DC-51EF48D1035B Wed, 23 Nov 2011 07:41:47 -0800 The Thomson Reuters/University of Michigan's final reading on the overall index on consumer sentiment came in at 64.1, up from 60.9 the month before. http://www.cnbc.com/id/45415641 C51819B4-1ECB-4BCE-BD1F-5922528FA309 Wed, 23 Nov 2011 07:40:50 -0800 Personal income increased $48.1 billion, or 0.4 percent in October, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $8.2 billion, or 0.1 percent. http://www.calculatedriskblog.com/2011/11/personal-income-increased-04-in-october.html D6A65BC8-0020-42D7-8FE0-9EED3CC0F3DD Wed, 23 Nov 2011 07:35:37 -0800 The DOL reports in the week ending November 19, the advance figure for seasonally adjusted initial claims was 393,000, an increase of 2,000 from the previous week's revised figure of 391,000. http://www.calculatedriskblog.com/2011/11/weekly-initial-unemployment-claims-at.html 31D5734D-36E8-4233-BE62-9DA1F8B1BBD8 Wed, 23 Nov 2011 07:28:30 -0800 "Purchase applications increased last week, returning to levels from before the Veteran’s Day holiday," said Michael Fratantoni, MBA’s Vice President of Research and Economics. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78637.htm EC0BA9C3-3E93-4559-8058-33C9A5F812D4 Wed, 23 Nov 2011 07:26:38 -0800 The FDIC released the Quarterly Banking Profile today for Q3. The report showed that 1-4 family Real Estate Owned (REO) by FDIC insured institutions declined to $11.9 billion in Q3, from $12.1 billion in Q2 - and from a record $14.76 billion in Q3 2010. http://www.calculatedriskblog.com/2011/11/fdic-insured-institutions-1-4-family.html 0C6D6719-0520-4FE2-BAE3-F060F0ECB841 Wed, 23 Nov 2011 07:25:00 -0800 Only slightly worse than Kentucky, California ranked 20th in SiteSelection.com’s annual ranking of state business climates for new factories and offices. http://lansner.ocregister.com/2011/11/22/california-20th-best-place-for-new-factory/150023/ 63E3B807-57B7-4DD8-9C25-EE800C801C4C Tue, 22 Nov 2011 20:38:39 -0800 Congress' failed deficit-cutting supercommittee has faded away, but the pressure on lawmakers to quickly confront a stack of expensive economic issues is only growing. http://finance.yahoo.com/news/Congress-next-fights-jobless-apf-1631317251.html?x=0&l=1 8A2A4E04-7B38-43E5-BCB7-49675BB71050 Tue, 22 Nov 2011 20:32:36 -0800 Economists hoped the so-called congressional supercommittee would decide whether to extend both measures. But the committee couldn't even agree on how to reach its main goal, cutting $1.2 trillion from the federal budget deficit. http://finance.yahoo.com/news/Economy-suffer-tax-cut-apf-2741088809.html?x=0&l=1 D9526C0F-FBF2-49A5-8C65-F2E797B21637 Tue, 22 Nov 2011 20:30:26 -0800 Regional and state unemployment rates were generally little changed or slightly lower in October. Thirty-six states and the District of Columbia recorded unemployment rate decreases, five states posted rate increases, and nine states had no rate change, the U.S. Bureau of Labor Statistics reported today. http://www.calculatedriskblog.com/2011/11/state-unemployment-rates-little-changed.html 73C151DF-1E89-4D1D-AD0C-5677B1A17EC0 Tue, 22 Nov 2011 20:16:16 -0800 President Barack Obama will challenge the U.S. Congress to preserve an expiring payroll tax cut on Tuesday as he travels to New Hampshire to seize the initiative in the wake of a collapsed effort to reduce the nation's budget deficit. http://www.cnbc.com/id/45398675 1498C7FB-45F8-4365-BD35-DE6F8AF2DE1C Tue, 22 Nov 2011 08:11:23 -0800 Bank earnings rose over the summer to their highest level in more than four years, while the number of troubled banks fell for the second straight quarter, federal regulators reported Tuesday. http://finance.yahoo.com/news/FDIC-Bank-earnings-hit-apf-3014129874.html?x=0&l=1 6D5F5B67-75AC-46BB-BAB7-532AED0FAFA5 Tue, 22 Nov 2011 08:09:10 -0800 The U.S. economy grew more slowly than previously estimated in the third quarter, but weak inventory accumulation amid sturdy consumer spending supported views output would pick up in the current quarter. http://www.cnbc.com/id/45399429 893351B5-5013-43D6-A3D0-48F0C04094E0 Tue, 22 Nov 2011 08:08:03 -0800 Freddie Mac released today its U.S. Economic and Housing Market Outlook for November showing that despite positive economic signs consumers remain worried about their financial well being - a major reason why home sales remain relatively lackluster, despite the most affordable home-buyer market in decades. http://freddiemac.mediaroom.com/index.php?s=12329&item=88481 57480FA5-181B-4A86-BFC3-F5D4DAD008E4 Tue, 22 Nov 2011 08:04:08 -0800 Portola Hills was tops at 75% of its listings as foreclosures being resold by banks or short sales by owners; followed by Rancho Santa Margarita at 68.9% of listings; then came Ladera Ranch at 66.7% of listings. http://lansner.ocregister.com/2011/11/22/distressed-listings-heaviest-in-so-county-foothills/148793/ AAA11E2E-AFF9-40E6-AB1C-B2AB05DA3AC3 Tue, 22 Nov 2011 07:59:27 -0800 Bank of America Corp.'s board has been told that the company could face a public enforcement action if regulators aren't satisfied with recent steps taken to strengthen the bank ... The nation's second-largest lender has been operating under a memorandum of understanding since May 2009. http://online.wsj.com/article/SB10001424052970203710704577052491450383120.html 8B7ADDF1-AD8E-4BE5-ACE4-12850771C202 Tue, 22 Nov 2011 07:54:42 -0800 U.S. commercial real-estate prices fell 1.4% in September, ending a four-month growth streak ... Moody's expects "multi-family and hotel properties to lead the price recovery," said Nick Levidy, Moody's managing director. http://online.wsj.com/article/BT-CO-20111121-710494.html B33D325C-0B89-4ECD-82B7-192D5929BA13 Tue, 22 Nov 2011 07:52:35 -0800 Freddie Mac released today its U.S. Economic and Housing Market Outlook for November showing that despite positive economic signs consumers remain worried about their financial well being - a major reason why home sales remain relatively lackluster, despite the most affordable home-buyer market in decades. http://freddiemac.mediaroom.com/index.php?s=12329&item=88481 46043D7D-4D3E-43D8-A859-47AEB4A06E28 Mon, 21 Nov 2011 08:01:06 -0800 We’ve seen the effects of tight mortgage conditions over the last year. Existing and new homes sales have struggled and we are now left with sizable pent-up demand. Will this trend continue into 2012? http://realtytimes.com/rtpages/20111121_realestateoutlook.htm 18F17803-54A1-46EA-95C1-BF72C051DD0E Mon, 21 Nov 2011 07:58:36 -0800 If we were to go strictly by house payments, the cost of buying an Orange County home is now the lowest it’s been in eight to 11 years. http://lansner.ocregister.com/2011/11/21/o-c-house-payments-at-8-year-low/149503/ 396ED05B-EAB6-4D9C-982D-BF0F7630B6ED Mon, 21 Nov 2011 07:54:54 -0800 NAR reports total existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 1.4 percent to a seasonally adjusted annual rate of 4.97 million in October from a downwardly revised 4.90 million in September, and are 13.5 percent above the 4.38 million unit level in October 2010. http://www.realtor.org/press_room/news_releases/2011/11/ehs_oct 6FB14E64-FAB6-4FA7-BAF2-FDD63F294165 Mon, 21 Nov 2011 07:20:24 -0800 The congressional committee tasked with reducing the federal deficit is poised to admit defeat as soon as Monday, and its unfinished business will set up a year-end battle over emergency jobless benefits and an expiring payroll tax holiday. http://www.washingtonpost.com/business/economy/supercommittee-likely-to-admit-defeat-on-debt-deal/2011/11/19/gIQAgtGfcN_story.html 6F9B8C75-1469-4975-ACC3-B21F731ADDE8 Sun, 20 Nov 2011 21:36:38 -0800 In their latest outlook, top forecasters with the National Association for Business Economics predicted the economy would grow 2.4 percent in 2012, only a slight improvement from the 1.8 percent growth they expect for all of 2011. http://finance.yahoo.com/news/Economists-see-modest-growth-apf-1210246428.html?x=0&l=1 DB787A70-CC08-417E-8A5B-577DA7582C2F Sun, 20 Nov 2011 21:33:22 -0800 California home sales posted a marginal increase in October and also were above year-ago levels, according to figures released from the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). http://www.car.org/newsstand/newsreleases/2011newsreleases/octsalesprice/ C988BB8E-CA56-493D-9D67-95808BD859A8 Sun, 20 Nov 2011 21:29:10 -0800 Thirty-five percent of current clients surveyed by YouWalkAway.com said that they’re walking away from their homes sooner because of the upcoming expiration of the Mortgage Forgiveness Debt Relief Act at the end of next year. http://www.marketwatch.com/story/tax-relief-inspires-some-to-walk-away-from-home-2011-11-18 FA10F957-4B23-4CF1-AC57-2BFD575F0160 Fri, 18 Nov 2011 23:54:20 -0800 The latest Census information shows that the percentage of Americans who move has dropped to an all-time low. Only 11.6 percent of Americans changed residences last year, down from 12.5 percent in 2009. http://www.pe.com/business/business-insider-headlines/20111118-real-estate-americans-who-move-at-all-time-low.ece B86EFDD7-784B-483B-939A-A7D261C0B04C Fri, 18 Nov 2011 23:51:24 -0800 The West, with a 16.5% drop, was the only region without an increase in construction of single-family homes. One analyst says the overall gain is a sign that numbers will be good the rest of the year. http://www.latimes.com/business/realestate/la-fi-housing-starts-20111118,0,4792319.story 3A0AB64B-8A6E-4EF4-9EF8-C706C858C5B7 Fri, 18 Nov 2011 23:48:00 -0800 Republicans and Democrats on Congress' deficit-reduction supercommittee have resumed face-to-face meetings after more than a week of backbiting and stalemate. http://www.cnbc.com/id/45354009 885E4112-43E6-45C8-BA0A-96D810A5C9CE Fri, 18 Nov 2011 08:03:04 -0800 A gauge of future U.S. economic activity rose more than expected in October due to a sharp pick-up in new permits to build homes, suggesting the economy is gathering steam, the Conference Board said. http://www.cnbc.com/id/45354313 265EEDF3-DC7E-4624-A526-EEDB917E0A62 Fri, 18 Nov 2011 08:01:48 -0800 USA Today reported that family mortgages are growing in popularity. The chief executive, Timothy Burke of National Family Mortgage, calls the family mortgage "an opportunity to create a win-win". http://realtytimes.com/rtpages/20111118_familymtgs.htm 3F05C738-D5AF-443C-A658-006E0F1039FA Fri, 18 Nov 2011 07:50:59 -0800 The National Association of Realtors® commends Congress for reinstating the loan limit formula and maximum cap for Federal Housing Administration-insured loans for two years. http://www.realtor.org/press_room/news_releases/2011/11/congress_reinstates_fha_loan_limits D7E36584-B4CA-4CDA-A2D3-477089EA5C82 Fri, 18 Nov 2011 07:48:39 -0800 DataQuick shows sales activity and pricing at five-month lows. http://lansner.ocregister.com/2011/11/18/u-s-home-sales-pricing-at-5-month-lows/150103/ 92C362AE-4C33-48EA-B590-FCB926ECB67C Fri, 18 Nov 2011 07:40:15 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 4.00 percent with an average 0.7 point for the week ending November 17, 2011, up from last week when it averaged 3.99 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=85168 FECE130A-4527-4AF0-B1FF-2B9003EB0A72 Fri, 18 Nov 2011 07:37:14 -0800 A company owned by Bank of America is winding down key parts of its business, including acting as the middleman between third-party mortgage brokers and home appraisers, confirmed a Bank of America spokesman on Thursday. http://www.signonsandiego.com/news/2011/nov/18/bofa-subsidiary-wind-down-key-appraisal-service/ 45CEFFF6-AE50-4A17-BA3A-FEBD2F834BD7 Fri, 18 Nov 2011 07:33:38 -0800 The explanation, CRL said Thursday, is that higher-income borrowers in expensive boom states wound up with a disproportionate number of high-risk loans, as did the lower-income residents of cities with weak economies and housing markets. http://latimesblogs.latimes.com/money_co/real_estate/ 0EC2D29F-FD0B-44C2-AD0E-A28C048DE13A Fri, 18 Nov 2011 07:30:54 -0800 Information is sought on the mortgage giants' roles as landlords who own thousands of foreclosed properties in California. Also sought are details of their mortgage-servicing and home-repossession practices, a source says. http://www.latimes.com/business/realestate/la-fi-mortgage-probe-20111117,0,7829931.story 5497C506-E1CB-41DB-B3BA-13E82A6BBAC2 Fri, 18 Nov 2011 07:25:19 -0800 The seasonally adjusted delinquency rate for mortgage loans on one-to-four-unit residential properties fell to 7.99 percent in the third quarter of 2011, according to data from the Mortgage Bankers Association’s (MBA) National Delinquency Survey. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78538.htm 52AB8C65-E6E9-42B0-BB06-D5DE3EC1A803 Fri, 18 Nov 2011 07:21:55 -0800 The MBA reports the Refinance Index decreased 12.2 percent from the previous week. The seasonally adjusted Purchase Index decreased 2.3 percent from one week earlier. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78517.htm B3816AB7-25EC-4736-BD7B-654363F24A69 Fri, 18 Nov 2011 07:20:58 -0800 Single-family housing starts rose 3.9 percent to a seasonally adjusted annual rate of 430,000 units in October, according to newly released data from the U.S. Commerce Department. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14030 52D9F25B-B507-4516-AFF4-EB1F89622662 Fri, 18 Nov 2011 07:17:17 -0800 DOL reports in the week ending November 12, the advance figure for seasonally adjusted initial claims was 388,000, a decrease of 5,000 from the previous week's revised figure of 393,000. http://www.calculatedriskblog.com/2011/11/weekly-initial-unemployment-claims-four.html BC2DA4E2-FF6F-45E0-A314-422A992FC6A3 Fri, 18 Nov 2011 07:15:24 -0800 Builder confidence in the market for newly built, single-family homes rose by three points to 20 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for November, released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=14026 8D3C4D1A-8768-40A5-9E62-DDCA244C9BE8 Fri, 18 Nov 2011 07:09:11 -0800 An estimated 34,087 new and resale houses and condos were sold statewide last month. That was down 3.7 percent from 35,404 in September, and up 4.3 percent from 32,669 for October 2010. http://www.dqnews.com/Articles/2011/News/California/RRCA111116.aspx 1BF31E0F-E4B7-45F5-8719-9F5906481EFA Fri, 18 Nov 2011 07:06:29 -0800 The top Republican in the House says a recent proposal by GOP members of a special deficit committee is a "fair offer" despite criticism from conservatives who say it breaks the party's pledge on taxes. http://finance.yahoo.com/news/GOP-hopefuls-oppose-potential-apf-913521728.html?x=0&l=1 19A5280E-B092-4B42-9150-834D1FD76502 Tue, 15 Nov 2011 07:54:46 -0800 Congressional negotiators agreed late on Monday to extend funding for many U.S. government programs to mid-December, in a bipartisan move to avert any shutdown of agency operations that would otherwise occur by this weekend. http://www.cnbc.com/id/45302652 E388B790-4549-4152-8607-3B78C4C087F0 Tue, 15 Nov 2011 07:52:28 -0800 Essex Property Trust says its market forecast for Orange County shows local "effective" rents now rising at a 5.8% annual rate. http://www.ocregister.com/articles/rents-327018-rising-market.html 764F25A3-3CB7-46A3-9618-8C7F5256F7FD Tue, 15 Nov 2011 07:47:47 -0800 "Demand, the number of new pending sales over the prior month, continues to bounce around the 2,900 level since mid-September." - Steve Thomas http://lansner.ocregister.com/2011/11/14/pending-housing-deals-picked-up-in-october/147873/ 2041EB53-7099-4381-A35E-6132B9EC8B2E Tue, 15 Nov 2011 07:46:01 -0800 Zillow's new app allows home shoppers on Kindle Fire to search for, share and save information on more than 100 million for-sale and for-rent homes in Zillow’s database. http://www.pe.com/business/business-insider-headlines/20111114-real-estate-zillow-provides-app-for-kindle-fire.ece 45A07FC4-A31A-4369-A440-C8AAC4538A3E Tue, 15 Nov 2011 07:43:42 -0800 Of all the counties in the state, San Bernardino County had the most affordable housing, with 77 percent of households able to afford to buy the median priced existing single family home selling for $133,290. http://www.pe.com/business/business-insider-headlines/20111114-real-estate-ie-homes-most-affordable-in-state.ece 88B94552-06D3-44FA-A2F3-FD23E700A436 Tue, 15 Nov 2011 07:39:59 -0800 FHA is expected to sustain significant losses from loans insured prior to 2009...However, the MMI Fund will start to rebuild capital in 2012, and return to a level of two percent by 2014. http://www.calculatedriskblog.com/2011/01/house-prices-and-months-of-supply-and.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+CalculatedRisk+(Calculated+Risk) 6262DF2F-B21B-4703-94DE-05BDB91AFE38 Tue, 15 Nov 2011 07:33:51 -0800 Gathering storms across the Atlantic threaten a U.S. economy not yet recovered from the last recession. http://www.calculatedriskblog.com/2011/11/sf-fed-recession-odds-in-2012-are.html A57E12AD-038A-4A19-BEC7-AE1DDD1437EB Tue, 15 Nov 2011 07:28:02 -0800 Housing has always been linked to wealth in one fashion or another, but now the latest indicators from the Pew Research Center show that housing has been one of the prime reasons for "divergent wealth trends." In other words there is a growing wealth gap. http://realtytimes.com/rtpages/20111114_realestateoutlook.htm DF58BA34-8888-47F4-8EE3-DAF099271A73 Mon, 14 Nov 2011 08:21:56 -0800 The struggling housing market needs to be a priority on the nation’s public policy agenda, because housing and homeownership issues affect all Americans. http://www.realtor.org/press_room/news_releases/2011/11/housing_must_be_national_priority 9ABE9293-E3AA-4792-8084-539154381C92 Mon, 14 Nov 2011 08:05:40 -0800 Fraudsters find a way to scam lenders and homeowners out of money no matter how the housing market is faring, but in recent years they’ve shifted their tactics to profit from the market’s downturn. http://www.marketwatch.com/story/scammers-profit-from-struggling-housing-market-2011-11-14 770BADB8-0E66-4ADD-97B7-90C96A8D6912 Mon, 14 Nov 2011 08:03:49 -0800 Even as Bank of America and other major lenders back away from charging customers to use their debit cards, many banks have been quietly imposing other new fees. http://www.cnbc.com/id/45286104 1E56E26E-AAB1-4383-9B3C-0E083FAA9F8F Mon, 14 Nov 2011 08:00:27 -0800 The Supreme Court agreed Monday to decide the fate of President Barack Obama's healthcare law, with an election-year ruling due by July on the U.S. healthcare system's biggest overhaul in nearly 50 years. http://www.cnbc.com/id/45287781 F19965DB-CF2C-4C15-8524-9066BFBFA097 Mon, 14 Nov 2011 07:57:44 -0800 As of the end of August, the national average home price was $205,000. This is down 3.8 percent from August last year, and down 0.4 percent from January 1, 2011. http://www.calculatedriskblog.com/2011/11/lps-house-price-index-shows-38-percent.html 2D7D87CD-F823-4438-9D13-E2E9D53CBDFA Mon, 14 Nov 2011 07:29:23 -0800 If you’ve paid for a home appraisal within the last five years, a chunk of that charge likely went to a middleman you never knew existed. And because a third party was used, it might have driven up your closing costs and affected the quality of the valuation. http://www.signonsandiego.com/news/2011/nov/12/appraiser-middleman/ 01CA78C0-01FE-48AB-B046-CA5233C47F0D Mon, 14 Nov 2011 07:27:31 -0800 Lennar Homes is introducing a house designed for multigenerational living with two separate living areas under the same roof, a concept that the national home builder describes as "the home within a home." http://www.pe.com/business/business-headlines/20111112-real-estate-lennar-unveils-home-within-a-home.ece 7A9E9ABA-70DC-4564-99C1-F783C266C324 Mon, 14 Nov 2011 07:25:51 -0800 Lower prices and interest rates lead to a third-quarter increase in those who can afford a home at the statewide median to 52%, up from 51% in the previous quarter, according to a Realtor group's index. http://www.latimes.com/business/realestate/la-fi-housing-affordability-20111111,0,6083426.story D437956B-BB6F-45C9-8FB9-0B345AE5AA40 Mon, 14 Nov 2011 07:23:33 -0800 "I think paying off the mortgage would probably be a poor decision financially right now," said Gibran Nicholas, the chairman and chief executive of the Certified Mortgage Planning Specialist Institute, which trains and certifies financial planners who provide mortgage and real estate equity advice. http://www.car.org/newsstand/ 0CA00037-0C89-4313-8CBD-C0C06F4921C5 Mon, 14 Nov 2011 07:21:25 -0800 The Thomson Reuters/University of Michigan's preliminary reading on the overall index on consumer sentiment rose to 64.2 from 60.9 the month before, topping the median forecast of 61.5 among economists polled by Reuters. http://www.cnbc.com/id/45255233 801AF51D-EB46-4E26-A78A-109E1DB42BE4 Fri, 11 Nov 2011 07:39:27 -0800 The two main threats to the U.S. economy are government overregulation and plain fear that has not dissipated since the financial crisis, former General Electric chairman and author Jack Welch said. http://www.cnbc.com/id/45253495 086EAB5C-370A-4CCF-B051-510F4783D34A Fri, 11 Nov 2011 07:04:07 -0800 "For the first time in generations, the American dream of homeownership is being threatened," said Phipps, broker-president of Phipps Realty in Warwick, R.I. "We need to keep housing first on the nation’s public policy agenda, because housing and home ownership issues affect all Americans." http://www.realtor.org/press_room/news_releases/2011/11/realtors_seize_the_day 76A4BA68-12D0-4BCF-9E98-EA2B61F44740 Fri, 11 Nov 2011 06:58:36 -0800 The recent release of the California job numbers for September was somewhat provocative because it ran counter to the widespread notion that the Golden State is, you know, going downhill. http://lansner.ocregister.com/2011/11/10/analyst-calif-job-gains-top-texas/146633/ 0DDC2822-A1B3-4D4A-87A4-7DA0B30B51CF Fri, 11 Nov 2011 06:53:11 -0800 Electricity generation by rooftop solar installations in California has surpassed the one-gigawatt mark, according to an analysis of a state incentives program. http://www.signonsandiego.com/news/2011/nov/10/rooftop-solar-hits-1-gigawatt-mark-in-california/ FC9FB467-1B73-470F-AD22-857EFE7FE96A Fri, 11 Nov 2011 06:49:33 -0800 Freddie Mac reports 30-year fixed-rate mortgage averaged 3.99 percent with an average 0.7 point for the week ending November 10, 2011, down from last week when it averaged 4.00 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=82900 1DA5CB13-B897-4C13-8573-3BC533AB6CD6 Thu, 10 Nov 2011 07:43:23 -0800 The U.S. Department of Housing and Urban Development is offering its foreclosed homes for a mere $100 down from now until October 2012. http://realtytimes.com/rtpages/20111110_hudhome.htm B1832D53-C86A-416C-8650-4BF3258BAB25 Thu, 10 Nov 2011 07:42:04 -0800 Builder confidence in the 55+ housing market for single-family homes fell three points to 12 compared to the same period a year ago, according to the latest National Association of Home Builders’ 55+ Housing Market Index released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=13963 55D4A6D2-A909-4897-B8E3-DA5FB4426D85 Thu, 10 Nov 2011 07:40:02 -0800 The DOL reports in the week ending November 5, the advance figure for seasonally adjusted initial claims was 390,000, a decrease of 10,000 from the previous week's revised figure of 400,000. The 4-week moving average was 400,000, a decrease of 5,250 from the previous week's revised average of 405,250. http://www.calculatedriskblog.com/2011/11/weekly-initial-unemployment-claims_10.html DD7DFCF4-B378-4BBA-BC27-A728DB3AFDA2 Thu, 10 Nov 2011 07:34:54 -0800 Foreclosure activity rose 7% in October compared with September, a sign that lenders are picking up the pace after foreclosure processing problems caused delays, RealtyTrac said Thursday. http://www.marketwatch.com/story/foreclosures-jump-7-in-october-from-september-2011-11-10 AC61B80B-6E37-4CDB-BFD7-FD79B68CBC12 Thu, 10 Nov 2011 07:32:54 -0800 Fannie's REO inventory fell to 122,616 houses from 135,719 at the end of Q2. Fannie's REO inventory has declined for four straight quarters. http://www.calculatedriskblog.com/2011/11/housing-reo-and-mortgage-delinquencies.html FA1894B3-16BA-4E61-AFA9-0C653A82BBF0 Thu, 10 Nov 2011 07:31:45 -0800 It’s the second time in two years that the 1.1-million-member trade group met in Southern California. The 2009 conference took place in San Diego. http://lansner.ocregister.com/2011/11/10/anaheim-hosting-u-s-realtor-conference/145243/ 3A6F6A34-E168-4C15-946E-52AFD20E3A57 Thu, 10 Nov 2011 07:27:18 -0800 After adjusting to historically low sales in 2011, some leading Southern California home builders are expecting very similar conditions in 2012 as employment slowly improves and the batch of competing foreclosed homes is slowly liquidated. http://www.pe.com/business/business-headlines/20111109-real-estate-home-builders-describe-strategies-for-survival.ece 6F35CD1B-B49B-4364-A435-AD801A9F654C Thu, 10 Nov 2011 07:26:00 -0800 Mortgage giant Fannie Mae is asking the federal government for $7.8 billion in aid to covers its losses in the July-September quarter. http://www.latimes.com/business/la-fiw-fannie-loan-20111108,0,4027510.story CD921FBB-C023-4425-B782-ADA9FD0009FA Thu, 10 Nov 2011 07:23:35 -0800 The MBA reports the Refinance Index increased 12.1 percent from the previous week. The seasonally adjusted Purchase Index increased 4.8 percent from one week earlier to the highest level since August 2011. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78422.htm 344727C2-DCF4-472B-AB2A-FEC365BB837D Wed, 9 Nov 2011 07:04:21 -0800 REO inventories have declined over the last few quarters. This is a combination of more sales and fewer acquisitions due to the slowdown in the foreclosure process. http://www.calculatedriskblog.com/2011/11/fannie-freddie-and-fha-reo-inventory.html 822A85BF-0FE4-4FF7-A49E-98D940BDC862 Wed, 9 Nov 2011 07:02:27 -0800 The BLS reports the number of job openings in September was 3.4 million, up from 3.1 million in August. Although the number of job openings remained below the 4.4 million openings when the recession began in December 2007, the level in September was 1.2 million higher than in July 2009. http://www.calculatedriskblog.com/2011/11/bls-job-openings-increase-in-september.html 2BF44530-BE1B-4A6C-8A0E-AEDFE2F8B8A7 Wed, 9 Nov 2011 06:59:20 -0800 The number of improving housing markets continued to expand for a third consecutive month in November, rising from 23 to 30 on the latest National Association of Home Builders/First American Improving Markets Index, released today. http://www.signonsandiego.com/news/2011/nov/08/mortgage-aid-open-more-calif-borrowers/ A836E334-DD86-40A3-93DB-4E34035C5870 Wed, 9 Nov 2011 06:49:33 -0800 Small businesses in the U.S. grew more confident in the economy's future for the second straight month during October as their outlook for business conditions improved, according to a survey released on Tuesday. http://www.cnbc.com/id/45204842 4A67EFC3-5072-491E-98D4-17E6560B7718 Tue, 8 Nov 2011 07:17:12 -0800 HousingTracker reported that the November listings - for the 54 metro areas - declined 16.8% from the same week last year. http://www.calculatedriskblog.com/2011/11/visible-existing-home-inventory.html 5D53CB47-F694-4703-8C24-2B9BDDD4DCCA Tue, 8 Nov 2011 07:14:10 -0800 According to the CoreLogic HPI, national home prices, including distressed sales, declined by 4.1 percent in September 2011 compared to September 2010. http://www.calculatedriskblog.com/2011/11/corelogic-house-price-index-declined-11.html 7FC9B0B8-B0E7-4FA9-8798-F4E0A48B4837 Tue, 8 Nov 2011 07:08:55 -0800 The U.S. economy will continue to struggle to recover in 2012, buoyed by increased business investment but still overshadowed by a very weak labor market, a Federal Reserve economist told the annual West Virginia Economic Outlook Conference on Tuesday. http://finance.yahoo.com/news/Economist-sees-restrained-US-apf-2963774059.html?x=0&.v=3 FF4F548A-CE42-4CE4-B9B3-CEEF458CB764 Tue, 8 Nov 2011 07:07:50 -0800 A sputtering Congress enveloped in an atmosphere poisoned with politics and distrust enters its final weeks of the year struggling to complete a lengthy to-do list on the budget. http://finance.yahoo.com/news/Congress-sputters-on-deficit-apf-1648299019.html?x=0&.v=1 70A52039-0C0F-44BD-83D4-2A6736DE141E Tue, 8 Nov 2011 07:05:56 -0800 Foreclosure filings in Nevada plunged in October during the first month of a new state law stiffening foreclosure-processing requirements. http://blogs.wsj.com/developments/2011/11/07/nevada-foreclosure-filings-dry-up-after-robo-signing-law/ C7147CFD-4766-45D3-AC7B-D6482FB0F1E0 Tue, 8 Nov 2011 07:01:48 -0800 In the third quarter of 2011, 82 percent of homeowners who refinanced their first-lien home mortgage either maintained about the same loan amount or lowered their principal balance by paying-in additional money at the closing table, according to Freddie Mac. http://freddiemac.mediaroom.com/index.php?s=12329&item=81718 501714FA-696E-4860-A723-0045E955FB35 Tue, 8 Nov 2011 06:58:58 -0800 Hiring statewide will be modestly higher in the fourth quarter, according to a report released by Chapman University. http://economy.ocregister.com/2011/11/04/california-hiring-to-see-slight-increase-chapman/88453/ 089CFC9F-5D7A-4F18-A73C-64793030D587 Tue, 8 Nov 2011 06:48:56 -0800 The rate that mortgage holders were late with their payments by 60 days or more rose in the June-to-September period for the first time since the last three months of 2009, according to TransUnion. http://finance.yahoo.com/news/Late-mortgage-payments-up-in-apf-213422272.html?x=0&.v=1 0A95179D-2863-462B-A52A-2C7BA86060C7 Mon, 7 Nov 2011 22:14:27 -0800 The wealth gap between younger and older Americans has stretched to the widest on record, worsened by a prolonged economic downturn that has wiped out job opportunities for young adults and saddled them with housing and college debt. http://www.cnbc.com/id/45188794 8986D068-9046-4F9D-8CD8-0357DE447A55 Mon, 7 Nov 2011 08:23:00 -0800 President Barack Obama is promoting new ways to help veterans find jobs in a tough economy while pressing Congress to approve tax credits for businesses to hire former members of the military. http://finance.yahoo.com/news/Obama-to-promote-ways-for-apf-803468328.html?x=0&.v=5 051D92BA-1F72-4D6F-9017-DB57A9198594 Mon, 7 Nov 2011 08:21:40 -0800 If we continue to see sluggish growth with 125,000 payroll jobs added per month (the pace this year), it will take an additional 52 months just to get back to the pre-recession level of payroll employment. http://www.calculatedriskblog.com/2011/11/sluggish-growth-and-payroll-employment.html A40F169A-9C3C-4665-9DB3-FADC4A8C20C0 Mon, 7 Nov 2011 07:17:58 -0800 Many local governments like Anaheim, Calif., and Luzerne County, Pa., have contracted out services including park maintenance, graffiti removal and tax claims. http://www.cnbc.com/id/45187246 DB2DD51C-70CC-4C1F-B30E-28539414A0EF Mon, 7 Nov 2011 07:16:28 -0800 By tapping into an aquifer the size of Rhode Island under the 35,000-acre Cadiz ranch, proponents say they can supply 400,000 people with drinking water in only a few years. http://finance.yahoo.com/news/Oasis-or-mirage-Company-wants-apf-782298624.html?x=0&.v=1 52E0B79B-1CE9-427F-83F1-31EFCF7C1871 Mon, 7 Nov 2011 07:15:21 -0800 The number of improving housing markets continued to expand for a third consecutive month in November, rising from 23 to 30 on the latest National Association of Home Builders/First American Improving Markets Index, released today. http://www.nahb.org/news_details.aspx?sectionID=148&newsID=13925 9C2F5A6B-9E1C-493C-83A5-3DF8C83211C8 Mon, 7 Nov 2011 07:11:31 -0800 The overall delinquency rate for single-family mortgages edged down to an estimated 12.0 during the third quarter from 12.3 percent in the second quarter and 13.1 percent a year ago and seriously delinquent loans will be at 5 percent, the same level as the fourth quarter of 2009. http://www.mortgagenewsdaily.com/11042011_delinquencies.asp D87D00C0-2507-45CF-85EF-639B9E80D97D Mon, 7 Nov 2011 07:09:59 -0800 Knowing someone who has defaulted on his mortgage makes a person less optimistic about the economy, according to a recent survey released by Fannie Mae. http://www.marketwatch.com/story/mortgage-defaults-make-neighbors-pessimistic-2011-11-04 B04EB349-620D-4910-A455-9CE047ECC432 Mon, 7 Nov 2011 07:08:01 -0800 Construction employment declined by 20 thousand jobs in October, and is now down 2.2 million jobs from the peak in April 2006. However construction employment is up 27 thousand this year through the October BLS report. http://www.calculatedriskblog.com/2011/11/construction-employment-down-in-october.html 10F11716-8D3E-47B9-A3B6-A5BC627EB40D Mon, 7 Nov 2011 07:05:29 -0800 The project, across from the Laguna Hills Mall, is seen by city officials as a bit of a catalyst for other improvements in what is known as the Urban Village plan, an effort centered on the mall and the adjacent Oakbrook Village to transform the area "into a village-like downtown district." http://www.ocregister.com/news/city-325400-development-hodgdon.html B33D76D5-1903-4597-8C95-F032F37E222C Mon, 7 Nov 2011 07:03:32 -0800 Year-to-date through September, one third of realtors have said appraisals resulted in buyers and sellers delaying or canceling contracts or renegotiating to a lower sales price, according to the National Association of Realtors. http://www.smartmoney.com/spend/real-estate/how-appraisals-are-derailing-home-sales-1320357466034/?grcc=88888Z0&mod=WSJ_hpp_sections_personalfinance BA7493AF-5F93-4376-B08A-A1A8DBAC512D Mon, 7 Nov 2011 07:00:10 -0800 The American economy added 80,000 jobs in October, and job growth in the two previous months was much stronger than first thought, an encouraging sign as the nation searches for a way out of the jobs crisis. http://finance.yahoo.com/news/US-added-80000-jobs-in-apf-365785889.html?x=0&.v=11 54C59DAA-5915-42A1-BFB3-DB602C20AE55 Fri, 4 Nov 2011 07:37:59 -0700 Section 1031 real-estate exchanges are back -- and that means investors need to be cautious. http://www.smartmoney.com/spend/real-estate/investors-be-wary-of-these-realestate-deals-1320325260909/ DF7ED840-8D7E-4E58-B387-FDC67E533F3A Fri, 4 Nov 2011 07:35:30 -0700 Now may be a great time to buy a house, given that years of falling home prices and low mortgage rates have made buying a place to live more affordable than it has been in decades. http://www.marketwatch.com/story/why-housing-deserves-a-home-in-your-portfolio-2011-11-04 2764A09B-60A6-4214-9F21-5C0FE8524E0D Fri, 4 Nov 2011 07:30:36 -0700 According to a UCLA forecast, you could see your home’s value rise around 34.6% within the next six years - a gain of about $149,000 on a median priced home. http://lansner.ocregister.com/2011/11/04/bought-a-home-in-06-prices-still-down-in-17/142813/ 4C2DC06D-BAB8-418A-B823-855FFAAEDD2A Fri, 4 Nov 2011 07:24:50 -0700 Total factory orders increased for a third straight month, edging up 0.3 percent, the Commerce Department reported Thursday. http://finance.yahoo.com/news/Factory-orders-rose-03-apf-762675731.html?x=0&.v=3 B12A66EE-B5DE-4844-895D-A8E0B290B64B Thu, 3 Nov 2011 07:55:59 -0700 Mortgage finance giant Freddie Mac said on Wednesday it will seek an additional $6 billion from U.S. taxpayers following its worst quarterly loss this year. http://www.cnbc.com/id/45147605 29D1A391-176F-44C8-AF46-B9EBE42CC5FC Thu, 3 Nov 2011 07:49:33 -0700 Freddie Mac reports 30-year fixed-rate mortgage averaged 4.00 percent with an average 0.7 point for the week ending November 3, 2011, down from last week when it averaged 4.10 percent. http://freddiemac.mediaroom.com/index.php?s=12329&item=78808 BEBFDC21-8B08-43FB-89D7-82791484CB68 Thu, 3 Nov 2011 07:47:52 -0700 The October ISM Non-manufacturing index was at 52.9%, down slightly from 53.0% in September. The employment index increased in October to 53.3%, up from 48.7% in September. http://www.calculatedriskblog.com/2011/11/ism-non-manufacturing-index-indicates.html CE47116C-033F-42D1-8753-95A5DB2C4226 Thu, 3 Nov 2011 07:46:44 -0700 The DOL reports in the week ending October 29, the advance figure for seasonally adjusted initial claims was 397,000, a decrease of 9,000 from the previous week's revised figure of 406,000. http://www.calculatedriskblog.com/2011/11/weekly-initial-unemployment-claims.html 67696924-EFF9-401B-BEFA-55F38019570C Thu, 3 Nov 2011 07:43:14 -0700 Third quarter 2011 commercial and multifamily mortgage loan originations were 98 percent higher than during the same period last year and 10 percent higher than the second quarter of 2011, according to the Mortgage Bankers Association. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78363.htm 05864AE0-723F-4A09-82BF-A7043C835F72 Thu, 3 Nov 2011 07:39:25 -0700 With a brush fire in Brea, and red-flag winds ready to howl, we though we’d share some fire-protection ideas from Insurance Information Network of California. http://lansner.ocregister.com/2011/11/02/is-your-home-ready-for-wildfire-season/142253/ 8022F223-7CB6-46C4-92A9-5C7BE3C6B50F Thu, 3 Nov 2011 07:37:46 -0700 The Federal Reserve on Wednesday slashed its forecast for economic growth, raised projections for unemployment, and suggested Europe's debt crisis posed big downside risks to the U.S. economy. http://www.cnbc.com/id/45136120 3293AC5C-62C6-4026-9F0A-011CCE5BC781 Wed, 2 Nov 2011 23:00:02 -0700 Employment in the U.S. nonfarm private business sector increased by 110,000 from September to October on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. http://www.calculatedriskblog.com/2011/11/adp-private-employment-increased-110000.html 2FA45433-7311-4BC8-BF00-6C6DEE86A807 Wed, 2 Nov 2011 07:50:16 -0700 The MBA's seasonally adjusted gauge of loan requests for home purchases rose 1.8 percent, while the index of refinancing applications was off 0.2 percent. http://www.mortgagebankers.org/NewsandMedia/PressCenter/78332.htm CDDDC8CC-D6D6-441C-8492-A7CB4E5B0DC2 Wed, 2 Nov 2011 07:48:35 -0700 The most-improved O.C. town in terms of a year’s percentage change in Thomas’ "market time" is Dove Canyon at 2.1 months to theoretically sell all for-sale homes at the current buying pace. http://lansner.ocregister.com/2011/11/01/newport-coast-home-market-slows-the-most/141793/ 8A766A62-470B-471A-BBBD-9047AB296E5C Wed, 2 Nov 2011 07:44:51 -0700 A large-scale review of foreclosures that occurred in 2009 and 2010 began on Tuesday with federal regulators requiring the nation’s largest mortgage servicers to start mailing letters to potential victims. http://latimesblogs.latimes.com/money_co/2011/11/massive-review-of-foreclosures-begins-by-banks-and-regualtors.html FA7C30DB-4712-4A1B-A3D6-98D10569BF81 Wed, 2 Nov 2011 07:38:41 -0700 Construction spending rose 0.2 percent in September from August to a seasonally adjusted annual rate of $787.2 billion, the Commerce Department said Tuesday. It was the second straight monthly increase. http://finance.yahoo.com/news/US-builders-spent-slightly-apf-1667841229.html?x=0&.v=4 014E4EF3-30F4-4A80-80DC-E3F20CC7DCFE Tue, 1 Nov 2011 07:40:25 -0700 Fannie Mae reported that the Single-Family Serious Delinquency rate declined to 4.00% in September while Freddie Mac reported serious delinquency rate increased to 3.51% in September. http://www.calculatedriskblog.com/2011/10/fannie-mae-and-freddie-mac-serious.html 0F14E842-812A-4EFC-9E54-86B698A2F8A8 Tue, 1 Nov 2011 07:03:58 -0700 A ban on foreclosure auctions outside the downtown San Diego Superior Court has forced those who conduct them to two other areas that already host such transactions, a spokesman with a trade group that represents trustees said Monday. http://www.signonsandiego.com/news/2011/oct/31/downtown-foreclosure-auctioneers-have-moved-elsewh/ 249B9457-8CD7-4864-BCC2-DA9D18DE8902 Tue, 1 Nov 2011 06:56:38 -0700 According to Fiserv, a financial analytics company, home values are expected to fall another 3.6% by next June, pushing them to a new low of 35% below the peak reached in early 2006 and marking a triple dip in prices. http://money.cnn.com/2011/10/31/real_estate/home_prices/index.htm?iid=Lead 6314BDB8-F0F3-4633-AD07-65CCB48E4830 Tue, 1 Nov 2011 06:52:25 -0700 The Institute for Supply Management-Chicago business barometer dipped to 58.4 from 60.4 the month before, falling short of expectations of 59.0, according to a Reuters poll. http://www.cnbc.com/id/45102733 ADA1D449-60BB-4DB1-B106-0FDA15C72EA8 Tue, 1 Nov 2011 06:51:22 -0700 Mortgage rates are near historical lows, but the rates lenders are quoting you aren’t as eye-popping as those you see in the news. http://www.marketwatch.com/story/why-you-cant-get-the-lowest-mortgage-rates-2011-10-31 DE785BAD-EB9C-4110-83EF-32BB262AD04A Tue, 1 Nov 2011 06:50:51 -0700 The active listing inventory dropped to its lowest point of the year and will only shed more homes until we bring in a New Year. The active listing inventory dropped below the 10,000 home mark. http://lansner.ocregister.com/2011/10/31/supply-of-o-c-homes-for-sale-hits-2011-low/141143/ D2C24351-8678-4890-B62D-886966F7C379 Tue, 1 Nov 2011 06:50:26 -0700 In polling prospective home buyers, Zillow discovered that 42 percent believe home values typically appreciate by 7 percent a year. This is an unrealistic expectation, Zillow says because historically home values in a normal market appreciate by two to five percent a year. http://www.pe.com/business/business-insider-headlines/20111031-real-estate-expectations-of-home-appreciation-too-optimistic.ece AD83E6C5-7C11-4379-A2E5-CC10D6445BA9 Tue, 1 Nov 2011 06:50:07 -0700 After heavy criticism, big banks are starting to rethink their monthly debit-card fees. Bank of America is revamping its plans as rivals Wells Fargo and JPMorgan Chase have decided not to charge monthly fees, ending test programs in certain states. http://www.cnbc.com/id/45080627 5514ADDD-009F-4B10-8258-3B4AC1DD05B4 Sun, 30 Oct 2011 23:16:58 -0700 AppraiserLoft has left appraisers across the country with unpaid invoices for hundreds to thousands of dollars, some dating back three to four months. http://www.signonsandiego.com/news/2011/oct/28/appraiser-complain-theyre-left-holding-the-bag/ 655EEA7A-AADA-4830-B40C-75C38C22CB74 Sun, 30 Oct 2011 23:04:25 -0700