Bloomberg - "Lennar Jumps After Second-Quarter Revenue Exceeds Estimates" (6-25-09)

"Sales were $891.9 million, higher than the median estimate of $596 million in a Bloomberg survey of analysts. Lennar said home deliveries and new orders rose 47 percent and 67 percent, respectively, from the first quarter."

Bloomberg - "Fed Douses Purchases Talk, Urges Investors to ‘Relax’" (6-25-09)

"Federal Reserve officials, encouraged by signs the recession is easing, doused speculation they will pump more money into the economy to hold down interest rates, while indicating they’re not ready to begin a retreat. Fed policy makers voted yesterday to maintain the size and pace of their $1.75 trillion program to buy mortgage debt and Treasuries."

Bloomberg - "Buying Like Buffett Beats Investing With Him Amid Stock Rebound" (6-25-09)

"Buffett, 78, has seen long-standing equity positions in Wells Fargo & Co. and American Express Co. more than double from their March lows after losing over half their value in the 12 months prior. Companies Berkshire owns outright, meanwhile, had declining sales amid the global recession, and the firm’s losses from derivative positions on corporate and municipal debt may not reverse as quickly as those tied to stock markets."

Orange County Register - "Federally insured home loans keep growing" (6-25-09)

"The Federal Housing Administration insured $27.3 billion in single-family mortgages in April — up 8% from the previous month due to higher mortgage purchase volume. Mortgage purchase volume rose $1.6 billion to $11.7 billion, while refinancings crept up by $350 million to $15.6 billion, according to an FHA monthly activity report. … Meanwhile, FHA servicers ramped up their loss mitigation efforts and completed 7,366 loan modifications in April, up from 4,837 in March. But this didn’t stop a 24 basis point increase in the FHA seriously delinquent rate in April and the percentage of FHA loans 90 days or more past due hit 7.32%"

Orange County Register - "Which south O.C. city has top 10 searched home?" (6-25-09)

"Well, San Clemente ranks in 9th place, but Laguna Beach and Dana Point are nowhere to be found on this list! I’ll have their individual rankings a little later on. The chart breaks down the most searched homes within 20% of the median asking price for O.C., which is $599,000."

Inman - "First-time buyer clueless about costs" (6-25-09)

"this is an incredible buyer's market, and the window of opportunity for taking advantage of it is slowly closing. However, if I've said it once, I've said it a million times -- it's only a good time to buy a home if and when it makes sense for your life to buy. Don't let the market drive your decisions whether and when to buy a home; rather, use the market to guide the strategies you use for executing those decisions, once you make them (e.g., how much to offer, how much to put down, what sort of mortgage to take, etc.)."

Realty Times - "New Loan Modification, Short Sale Options" (6-25-09)

"Now, mortgage modifications can include second mortgages -- not just first mortgages -- and cash incentives are sweetening short sale deals, thanks to new efforts by the Obama Administration."

Realty Times - "Next Stage of Green Building Industry to Focus on Water Efficiency" (6-25-09)

"Over the next five years, water efficiency and conservation will become critical factors in green design, construction and product selection, according to McGraw-Hill Construction's latest SmartMarket Report, Water Use in Buildings, released in support from The Chicago Faucet Company and Sloan Valve Company. Architecture and engineering (A/E) firms, contractors and owners report that water efficiency is rapidly becoming a higher priority than other aspects of green building, such as energy efficiency and waste reduction."