CNNMoney The Federal Housing Finance Agency laid out new rules aimed at speeding up the short sale process, a move that could keep many homes from falling into foreclosure. Read the full story http://money.cnn.com/2012/04/19/real_estate/short-sales/index.htm?iid=HP_LN [Read More]
The Wall Street Journal Former Fannie Mae CEO, speaking on a panel at a conference, says that an influx of investors into the housing market – rather than government policy – was the main cause of the housing market’s collapse. Read the full story http://blogs.wsj.com/developments/2012/04/20/raines-dont-blame-homeowners-government-for-housing-bust/ [Read More]
CNNMoney The Federal Housing Finance Agency laid out new rules aimed at speeding up the short sale process, a move that could keep many homes from falling into foreclosure. Read the full story http://money.cnn.com/2012/04/19/real_estate/short-sales/index.htm?iid=HP_LN [Read More]
CNNMoney The Federal Housing Finance Agency laid out new rules aimed at speeding up the short sale process, a move that could keep many homes from falling into foreclosure. Read the full story http://money.cnn.com/2012/04/19/real_estate/short-sales/index.htm?iid=HP_LN [Read More]
U.S. house prices rose 0.3 percent on a seasonally adjusted basis from January to February, according to the Federal Housing Finance Agency’s monthly House Price Index. While prices in January were unchanged according to initial estimates reported in the last HPI release, the January result has been revised downward to reflect a 0.5 percent decrease. ... [Read More]
U.S. house prices rose 0.3 percent on a seasonally adjusted basis from January to February, according to the Federal Housing Finance Agency’s monthly House Price Index. While prices in January were unchanged according to initial estimates reported in the last HPI release, the January result has been revised downward to reflect a 0.5 percent decrease. For the 12 months ending in February, U.S. prices rose 0.4 percent, the first annual increase since the July 2006 – July 2007 interval. The U.S. index remains 19.4 percent below its April 2007 peak and is roughly the same as the January 2004 index level.
The FHFA monthly index is calculated using purchase prices of houses backing mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac.
http://www2.realtoractioncenter.com/site/R?i=9WfS8dIAraykNOqpHXpOMQ
Orange County Register The median price for an existing, single-family home in California rose 1.6 percent in March compared with the year before, marking the first year-over-year increase in 16 months, the CALIFORNIA ASSOCIATION OF REALTORS® reported Monday. Making sense of the story The statewide median price of an existing, single-family detached home jumped 9.2 ... [Read More]
Orange County Register
The median price for an existing, single-family home in California rose 1.6 percent in March compared with the year before, marking the first year-over-year increase in 16 months, the CALIFORNIA ASSOCIATION OF REALTORS® reported Monday.
Making sense of the story
The statewide median price of an existing, single-family detached home jumped 9.2 percent to $291,080 in March from February’s $266,660 median price and was up 1.6 percent from a revised $286,550 recorded in March 2011. The month-to-month increase was the largest since March 2004.
Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 505,360 units in March, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. Sales in March were down 4.5 percent month-over-month and 2.3 percent year-to-year.
The statewide sales figure represents what would be the total number of homes sold during 2012 if sales maintained the March pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.
“Housing inventory remains extremely tight throughout the state and at levels severely under normal market conditions,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “In areas, such as Los Angeles and Riverside counties, where the Federal Housing Finance Agency (FHFA) wants to implement the REO bulk sale pilot program, inventory is running at levels well below the long-run average. These low inventory levels demonstrate that the pilot program is not necessary in California.”
The pilot program calls for the sale of more than 600 Fannie Mae-owned foreclosed homes in Los Angeles and Riverside counties to institutional investors.
Read the full story
http://www.ocregister.com/articles/median-349624-statewide-months.html
California home sales declined in March from February’s pace, while the median home price snapped a 16-month annual price decline and posted its first year-over-year gain, C.A.R. reported Monday. The statewide median price of an existing, single-family detached home jumped 9.2 percent to $291,080 in March from February’s $266,660 median price and was up 1.6 ... [Read More]
California home sales declined in March from February’s pace, while the median home price snapped a 16-month annual price decline and posted its first year-over-year gain, C.A.R. reported Monday.
The statewide median price of an existing, single-family detached home jumped 9.2 percent to $291,080 in March from February’s $266,660 median price and was up 1.6 percent from a revised $286,550 recorded in March 2011. The month-to-month increase was the largest since March 2004.
Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 505,360 units in March, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. Sales in March were down 4.5 percent month-over-month and 2.3 percent year-to-year.
“Housing inventory remains extremely tight throughout the state and at levels severely under normal market conditions,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “In areas, such as Los Angeles and Riverside counties, where the Federal Housing Finance Agency (FHFA) wants to implement the REO bulk sale pilot program, inventory is running at levels well below the long-run average. These low inventory levels demonstrate that the pilot program is not necessary in California.”
The pilot program calls for the sale of more than 600 Fannie Mae-owned foreclosed homes in Los Angeles and Riverside counties to institutional investors.
http://www.car.org/newsstand/news/march2012sales
San Diego Union-Tribune The regulator of Fannie Mae and Freddie Mac is getting heat from California congressional memebers over a pilot plan to sell 600-plus foreclosed homes in Riverside and Los angeles counties to investors in bulk on condition they will convert them to rentals. Read the full story http://www.utsandiego.com/news/2012/apr/10/more-push-back-demarco/ [Read More]
San Diego Union-Tribune
The regulator of Fannie Mae and Freddie Mac is getting heat from California congressional memebers over a pilot plan to sell 600-plus foreclosed homes in Riverside and Los angeles counties to investors in bulk on condition they will convert them to rentals.
Read the full story
http://www.utsandiego.com/news/2012/apr/10/more-push-back-demarco/
CNNMoney The Federal Housing Finance Agency will decide this month whether Fannie Mae and Freddie Mac should allow write downs on the balances of borrowers who owe more than their homes are worth. Read the full story http://money.cnn.com/2012/04/09/news/economy/mortgages-principal-reduction/index.htm?iid=HP_LN [Read More]
The Sacramento Bee The president of the CALIFORNIA ASSOCIATION OF REALTORS® explains why the government’s bulk sales plan for foreclosures is not the right solution for California’s housing market and economic recovery. Read the full story http://www.sacbee.com/2012/02/25/4289176/bulk-sales-of-foreclosed-homes.html [Read More]
The Sacramento Bee
The president of the CALIFORNIA ASSOCIATION OF REALTORS® explains why the government’s bulk sales plan for foreclosures is not the right solution for California’s housing market and economic recovery.
Read the full story http://www.sacbee.com/2012/02/25/4289176/bulk-sales-of-foreclosed-homes.html
