NAR - "Strong Commercial Real Estate Market Critical to Jobs and Economy, Say Realtors" (7-9-09)

"Having a sound and well functioning commercial and multifamily real estate sector is critical to our country’s economic growth and development, according to the National Association of Realtors®. In testimony on Capitol Hill before the Joint Economic Committee, NAR noted that commercial real estate supports more than 9 million jobs and services. 'In fact, as many as 6.5 million jobs that have been lost in the economic downturn have come from the office, industrial, retail and multifamily sector,' said NAR Treasurer Jim Helsel, a Realtor® who has specialized in commercial real estate for more than 34 years"

Mortgage Bankers Association - "MBA Reports Government-Insured Share of Mortgage Applications Highest Since 1990, Now at 36 Percent" (7-9-09)

"The government-insured (FHA and VA loans) share of mortgage applications was 35.9 percent in June 2009, the highest level since November 1990, according to the Mortgage Bankers Association. Based on data from MBA’s Weekly Mortgage Applications Survey, the government-insured share jumped from 25.7 percent a month earlier and 27.0 percent in June 2008. Since the MBA survey’s inception in January 1990, the lowest recorded share was 5.8 percent in August 2005"

Bloomberg - "U.S. Mortgage Rates Drop to 5.2%, Freddie Mac Says" (7-9-09)

"Mortgage rates in the U.S. fell for a second consecutive week, easing concern that a Federal Reserve plan to lower the cost of home loans had lost momentum. The average 30-year rate dropped to 5.2 percent from 5.32 percent, mortgage buyer Freddie Mac of McLean, Virginia, said today in a statement. The 15-year rate averaged 4.69 percent."

Bloomberg - "Commercial Real Estate Is a ‘Time Bomb,’ Maloney Says" (7-9-09)

"The $3.5 trillion commercial real estate market is a ticking “time bomb” that may lead to a second wave of losses at large U.S. banks, congressional Joint Economic Committee Chairwoman Carolyn Maloney said."

Orange County Register - "O.C. office owners may suffer for 8 years" (7-9-09)

"UCLA’s survey of commercial real estate pros shows little hope for the Orange County market. The report states that UCLA economists don’t expect this market to see its peak 2006 demand until 2014, at the earliest. Why? 'Excess supply of office space will continue to put pressure on rental and occupancy rates and no early turn of the market is expected'"

Orange County Register - "Steepest property tax-value dips hit Santa Ana" (7-9-09)

"The Assessor’s recap of the new taxable values for homes and other properties — remember, that’s different that actual values — show that 25 of Orange County’s 34 cities saw their taxable values driven down by falling home prices, with an average decline of 2.4%. And 9 had increases, with an average gain of 1.2%."

Orange County Register - "Foreclosure backlog grows in O.C." (7-9-09)

"First the good news: The ratio of foreclosed properties in Orange County on the books of banks dipped to 0.5% of all home loans in the county in May, from 0.8% in both April ‘09 and May ‘08, according to First American CoreLogic."

Inman - "Mortgage fraud reports rise 23%" (7-9-09)

"A report from the Financial Crimes Enforcement Network (FinCEN) shows growth in suspicious activity reports related to mortgage fraud ranged from 41 percent to 44 percent from 2005-07 after peaking at 93 percent in 2004 (see chart below)"

Inman - "RE/MAX, RealtyTrac launch partnership" (7-9-09)

"RE/MAX International agents will receive discounted subscriptions allowing them to access a database of more than 1.8 million default, auction and bank-owned properties compiled by RealtyTrac under a partnership between the two companies. Visitors to remax.com will also be able to include properties in the RealtyTrac database in their listing searches, although not all homes in the database are for sale and access to some details like addresses are witheld from nonsubscribers."