Orange County Register - "Renters seek savings in bigger apartments" (7-14-09)

"Rent.com figures show that 2007’s average number of bedrooms searched for ran on a clear downward trend throughout the year. Throughout 2008, that trend reversed. In 2008, average minimum and maximum rent amount that renters searched for increased in 2008, surpassing 2007 levels mid-year."

Orange County Register - "Wells Fargo sells subprime duds to Irvine investor" (7-14-09)

"National Mortgage News reports Wells Fargo recently sold $600 million in distressed subprime loans to Irvine-based Arch Bay Capital."

Inman - "Trulia gaining market share" (7-14-09)

"Trulia.com continued its steady climb of Hitwise's list of top 10 real estate Web sites to reach fifth place in June, with Homes.com also managing to break onto the list by displacing ServiceMagic.com from the 10th position."

San Francisco Chronicle - "Bill would suspend new home appraisal standards" (7-14-09)

"The Home Valuation Code of Conduct, in effect since May 1, bars lenders from directly picking appraisers for Fannie Mae and Freddie Mac secured mortgages, a move designed to eliminate conflicts of interest that many believe inflated home values during the real estate boom. In most cases, lenders are now required to contract with third parties known as appraisal management companies (AMCs) to select appraisers on their behalf."

Wall Street Journal - "Home Prices Play Big Role in Americans’ Decision to Move" (7-14-09)

"Housing affordability has played a greater role in prompting residents to leave one state for another over the past decade, according to a study released by the Federal Reserve Bank of Boston. This is a change from the past, when jobs were the primary economic driving factor behind state-to-state migration. The study helps explain why migration has fallen off so sharply in this recession — with the drastic fall in housing prices, many people are staying put not for work but because they are tied to a home they either cannot sell or refuse to sell at today’s prices. Some economists, including urban theorist Richard Florida, have used this slowdown in mobility to argue against government policies that subsidize home ownership — the argument being that increased home ownership hampers economic flexibility by making Americans less mobile."

Inman - "Freddie Mac issues appraisal bulletin" (7-14-09)

"The mortgage giant said new rules for appraisals don't require that appraisers select distressed properties -- including short sales, foreclosures or real estate-owned properties -- when identifying "comparable properties" for valuations."

NAR - "Real Estate Outlook: Positive Signs Reported Again" (7-14-09)

"Pending home sales rose sharply, by nearly 7 percent, in the latest month measured by the National Association of Realtors. Pending sales are those where the contracts are signed, but the deals haven't gone to settlement yet. Pending sales were up in all four major regions of the country -- and that caught the attention of some key industry economists."

Realty Times - "Terms of the Contract Offer" (7-14-09)

"What is the required amount of a binder deposit? There is no law as to a required amount, but local real estate practices may determine what is acceptable. Common sense should prevail in determining the amount of the Binder deposit however. Writing a check for $100.00 shows good faith, but what kind of statement is that making to the owner when the contract offer is presented to them?"