The Orange County Register Calif. house price drop 7th biggest in U.S. California house prices had the seventh-biggest price drop among U.S. states in November, falling 5.9 percent from year-ago levels, according to data firm CoreLogic Read the full story http://bit.ly/zHom6P
No Comments.
Places for home builders to dig in
The Wall Street Journal Amid a flurry of housing news this week, including President Obama’s latest mortgage-refinance proposal, comes an interesting piece of real-estate analysis in the building sector. Metrostudy has analyzed the strongest markets for home builders, which include: San Diego; Southern California; Texas’ Rio Grande Valley; St. George, Utah; and Orlando. Read the
Consumer group tentatively supports $25-billion mortgage deal
The Los Angeles Times The Center for Responsible Lending has called a proposed $25-billion settlement over faulty foreclosure practices between attorneys general, federal agencies, and the mortgage industry “an important step in addressing foreclosure abuses.” Read the full story http://lat.ms/wwyczK
Fed: Interest rates should stay low until late 2014
The Mercury News The Federal Reserve said it’s unlikely to raise its benchmark interest rate before late 2014, extending its time frame by at least a year and a half. Read the full story: http://bit.ly/A6hAGF
A reprieve for unemployed borrowers
The New York Times Fannie Mae and Freddie Mac recently extended their foreclosure forbearance programs to give short-term aid to unemployed homeowners, but housing counselors warn that these borrowers will need to look at longer-term solutions. Making sense of the story In a forbearance program, a lender agrees not to foreclose on a property and
Home Safety: 5 Steps to Greater Security
You spend a lot of time in your home. And most likely, you spent a lot of money to get it. So practicing home safety is essential to protect you, your family and your property. Take these five steps and you’re on your way to a safer, more secure home. 1. Practice fire safety. Place
First-time buyers lean on the bank of mom and dad
Reuters First-time buyers lean on the bank of mom and dad About a third of first time buyers in 2011 got either a gift (26 percent) or a loan (7 percent) from their families to help finance their home purchases, down slightly from 2010, but consistent with assistance levels seen during the last decade, according
Real Estate Investor News: State now allows smoking bans in multifamily housing
Sacramento Bee State now allows smoking bans in multifamily housing California landlords who have long had the right to restrict pets, noise, and even water beds in their units, can now prohibit smoking under a new law that took effect Sunday. Read the full story http://bit.ly/stnItl
Go Southern California Real Estate Investors!
CNNMoney FHA says: Flip that house In an effort to help stabilize housing prices and unload some of the foreclosures that are flooding low-income communities, the Federal Housing Administration extended a waiver of its anti-flipping regulations through 2012. Read the full story: http://cnnmon.ie/vDuVWd
Victims sought in Countrywide case
The Wall Street Journal 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. Read the full story http://on.wsj.com/v7JKPw
