California Real Estate Investing News

Tuesday, June 20, 2006

NAR.org - "NAR Advocates FHA Reform" (6-20-06)

"Long overdue reform of the Federal Housing Administrationâ€™s single-family mortgage insurance program will provide homebuyers an affordable alternative to higher cost loans and help bridge the gap in minority homeownership, Thomas M. Stevens, president of the National Association of Realtors"

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Real Estate Journal - "Housing Market Index Falls To Lowest Point in 11 Years" (6-19-06)

" Sentiment among U.S. home builders fell for the sixth month in a row to an 11-year low in June, the National Association of Home Builders said Monday."

Real Estate Journal - "Record-Breaking Housing Boom May Be Nearing a Close" (6-20-06)

" The recent housing boom is the biggest the United States has ever seen, but its underlying reasons may have been psychological, economist Robert J. Shiller said on Friday. New data also suggest the market might be at the end of a cycle, he added."

Real Estate Journal - "Consumers Get Caught in War Between Real-Estate Brokers" (6-20-06)

"About 11% of home sellers last year used "alternative" brokers (ones offering flat fees or other forms of discounting), up from less than 2% in 2002, according to surveys by Real Trends, a publishing and consulting firm."

RealEstateJournal.com - "Housing Starts Went Up in May, Indicating a Moderate Slowdown" (6-20-06)

"Housing starts increased for the first time since January last month, suggesting that the U.S. housing sector, though moderating, is doing so in an orderly fashion despite rising interest rates."

BusinessWeekly - "Stocks Up Slightly on Housing Data" (6-20-06)

"An upbeat housing report was in focus Tuesday. The Commerce Department said housing starts rebounded 5% to 1.96 million units in May after an upwardly revised 1.86 million in April. That's slightly stronger than expected, says Action Economics, but any market impact may be offset by a 2.1% decline in building permits."

"The report suggests the housing market is slowing, but not crashing, analysts say. 'We view this morning's data as further evidence the housing market is in a downturn, but that it is not headed for collapse,' explains Carl Riccadonna, an economist at Deutsche Bank Securities. 'Nonetheless, the housing market is an important leading indicator of the overall economy, and the fact that it is slowing tells us that both consumption and overall growth are also likely decelerating.'"

ReMax - "The Orange County Market Time Report - Graduating to a Buyers Market" (6-16-06)

"Graduation is in the air. With years of rapid appreciation and sellers waiting only days for multiple offers, it is time for the Orange County real estate market to officially graduate to a buyer’s market. The county’s inventory continued to climb from 5.16 months just two weeks ago to 5.68 months today. There are now 14,261 homes on the market with 2,512 homes placed into escrow within the prior 30 days. Compared to last years 1.34 month inventory at this time of year, there are 8,644 additional homes on the market and 1,651 fewer homes placed into escrow within the prior 30 days. The difference is night and day."

"How should a Seller approach the market? Hopefully potential sellers have read the WARNING label, “This market is for SERIOUS sellers only and NOT the market to test the waters.” Given the 14,261 home active inventory and only 2,512 homes placed into escrow within the prior 30 days, that means that 11,749 sellers will most likely not successfully sell their home over the next month. Only 17.6% will be successful. Sellers need to buckle their seatbelts and expect a long ride. Selling a home is no longer a quick process and could take months."

Follow link for full article from the Executive Vice President of ReMax. I'm not sure how long this link will stay live so please read ASAP.

Monday, June 19, 2006

LATimes.com - "Mold claim filed, and case just grew" (6-18-06)

"Condo owner says the insurer did a poor job of investigating damage, some of it caused by a neighbor's water leak."

LATimes.com - "Modjeska Canyon is just as they like it" (6-18-06)

Median price for area
1990...$150,000
1995...$151,000
2000...$240,000
2005...$719,500
*2006...$699,000

LATimes.com - "Sellers New Math" (6-18-06)

"As houses stay on the market longer, nervous owners have begun dropping their prices."

SignOnSanDiego.com - "Creative-loans study may lead to crackdown" (6-11-06)

"Though the jury is still out on the risks of payment-option and interest-only mortgages, the CFA findings suggest that lenders are hardly reserving them for high-income, high-credit-score applicants. In an economic squeeze, some of these loans could prove highly toxic – a prospect almost certain to weigh heavily in the financial regulators' forthcoming new guidelines."

Saturday, June 17, 2006

Inman.com - "Next stop: 7% mortgage rates" (6-17-06)

"Economy has soft spots, but corporate earnings tell different story"

CNN.com - "Shiller: Real estate is risky business" (6-16-06)

"Economist Robert Shiller points to several indicators that suggest prices are out of whack."

You think? Thanks for the early warning.

Thursday, June 15, 2006

NAHB.org - "Rush To Reach Lumber Accord Could Have Long-Term Impact On Housing Affordability" (6-15-06)

"Observing that the proposed framework would last for at least seven years and as many as nine, Howard said that NAHB’s analysis indicates the pact has the potential to seriously disrupt the lumber market by increasing and destabilizing prices, causing production bottlenecks as Canadian producers fight for limited market share, and instigating supply shortages as firms delay shipments in anticipation of a change in duties."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Reuters.com - "Bernanke says eyeing inflation" (6-15-06)
"Stocks fly after Bernanke" (6-15-06)

Inman.com - "California coalition to speak out against predatory lending" (6-15-06)

"Group will testify before Federal Reserve Board"

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Inman.com - "Inflation report hikes mortgage rates" (6-15-06)

"Fed expected to boost key rate to 5.25% this month"

Voice of San Diego - "Where Did That Come from?" (6-15-06)

"But while the large number of condo conversions being sold may go some way towards explaining why the median sales price dropped so much, analysts cautioned that it doesn't fully explain DataQuick's statistics."

"There's no possible way prices fell that much in one month," said Chris Thornberg, a senior economist at the University of California, Los Angeles Anderson Forecast. "It's just not possible."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Wednesday, June 14, 2006

MBAA.org - "Mortgage Applications Increase by 7 Percent in Latest Survey" (6-14-06)

"The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 9. The Market Composite Index, a measure of mortgage loan application volume, was 571.9, an increase of 7 percent on a seasonally adjusted basis from 534.4 one week earlier. On an unadjusted basis, the Index increased 17.9 percent compared with the previous week but was down 34.3 percent compared with the same week one year earlier."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

ALTA.org - "Administration Starting Reviews of Fannie, Freddie" (6-14-06)

" The Bush administration is starting special reviews of the financial operations of mortgage giants Fannie Mae and Freddie Mac."

"The two government-sponsored companies, both of which have been roiled by accounting scandals in recent years, already have been under pressure from lawmakers and regulators who want their combined multitrillion-dollar mortgage holdings to be reduced. The administration has long been critical of the two companies, and officials have pointed to the accounting scandals to bolster their case that the massive mortgage portfolios are improperly managed and pose a risk to the financial system."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

CNN.com - "Prices rise more than expected" (6-14-06)

"Core price reading jumps more than projected, fueling fears of further Fed rate hikes; worker wages aren't keeping up."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Bankrate.com - "'Anti-flipping' rules can hurt investors" (6-14-06)

"Other stipulations of the so-called "anti-flipping" regulations are aimed primarily at quick resale of new homes. They state that only the owner of record may sell to a person obtaining FHA mortgage insurance for the loan. In other words, the arrangement can't involve the sale or assignment of a sales contract on a property. If a resale does occur between 91 and 180 days, the lender can be forced to obtain a second appraisal based on a resale threshold percentage established by the FHA. For example, if the home price rose by more than 50 percent within a five-month period, the FHA could ask for the new, independent appraisal."

Tuesday, June 13, 2006

Real Estate Journal - "Move Over, McMansions: Microhouses Are on the Rise" (6-14-06)

Living in a tiny home, as opposed to doing yoga in it or using it for vacations, often appeals to people who want simpler lives that leave less of an ecological "footprint." Small houses require less fuel for heating and cooling, fewer building resources and are much easier to clean. V2World Chief Executive Tim Russell says his company designed their houses on the premise that people in the U.S. eventually might have to move to smaller spaces due to demographic pressures and land exhaustion.

Will the Baby Boomers choose to live large or scale down and play?

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

CNN.com - "Housing boom 2.0" (6-13-06)

"Harvard study says there may be bumps along the way, but that the long-term health of the housing market is intact."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Yahoo.com - "Why the Rich Get Richer" (6-13-06)

"All over the U.S. there are stories of a rise in real estate foreclosures. Many people who took those exotic mortgages -- borrowing 125% of home value or choosing adjustable-rate mortgages -- are struggling to make their payments, and some aren't making it."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Monday, June 12, 2006

HOBB.org - "Foreclosures rising with debt, job losses" (6-12-06)

"Adjustable rate mortgages surprise some homeowners."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

CARealEstateJournal.com - "Foreclosures Continue to Rise in Southern California" (6-12-06)

"The number of foreclosures escalated throughout Southern California, rising 29.09 percent since January 2006, according to Default Research, a real estate research company for foreclosure properties."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Inman.com - "Real estate inventory swells 60% in top metro areas" (6-12-06)

"The number of existing homes listed online for sale in the largest 100 metro areas in the nation grew 60 percent from May 2005 to May 2006, according to an analysis of homes listed online at the Realtor.com property-search site."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Business Week - "Housing prices drooping, buyers waiting" (6-12-06)

"Low-ball bidders, persnickety buyers and cancellations are now the rule in once-hot housing markets."

"'Investors were a bigger part of the market than many thought, including ourselves,' said Hovnanian, whose company builds primarily in the Northeast. Would-be flippers are not only not buying new properties, they're selling what they already own, adding to the record number of homes already on the market."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

CNN.com -"'Overpriced' housing gets more overpriced" (6-12-06)

"Despite a slowdown, more housing markets are overvalued than ever, says one economist."

This article lists best buy cities. For those of you who have The California Countdown, The California Crash, or attended one of the Texas Road trips in 2004-2005, you're way ahead of the curve.

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

CNN.com - "Bankruptcy filings up despite reform" (6-12-06)

"Increase comes even though more stringent standards were adopted in October; lenders watch closely."

"More than $300 billion in ARMs are subject to interest rate resets this year and that figure is expected to reach $1 trillion in 2007, according to DB Global Markets Research."

CNN.com - "Getting the price(s) right" (6-12-06)

With all eyes on inflation, there's a debate brewing about the best way to measure price pressures in the world's biggest economy.

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

HOBB.com - "Housing stocks plunge! Housing is next!" (6-10-06)

"A year ago, when our real estate specialist Mike Larson told a group of analysts that the housing bubble was about to bust, he practically got laughed out of the room."

Hmmm, sound familiar?

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

SacBee.com - "More houses than buyers, so sellers sweeten the pot" (6-10-06)

"Beazer Homes is promising $20,000 to $65,000 off. Some Centex Homes buyers can get a $125,000 price break. KB Homes has run ads offering $1,000 gift cards for buying in Yuba City, Natomas and Woodland. Pacific West Cos. hands out $10 gas cards for touring condos in Elk Grove and West Sacramento."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

LATimes.com -"Through the roof" (6-11-06)

"As building-material costs soar, homeowners are scaling back on remodels."

"Since April 2005, the price of copper pipe and tubing has risen nearly 71%; the gypsum products used in drywall, 24%; asphalt shingles for roofing, 19%; and ready-mix concrete for foundations, 12%, according to Reed Construction Data, a construction information company based in Norcross, Ga. The exceptions are framing lumber, which stabilized after rising sharply in 2004 and 2005 and is down 5%, and plywood, down 2%."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Friday, June 09, 2006

TNG Insider News

KB Home in Southern California has been laying off staff most recently in San Diego and Temecula. An article from May 20th was released about layoffs in Arizona but nothing has been mentioned about layoffs in California that we can find. Positions cut were those associated with construction material buying.

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Inman News.com - "Official: U.S. should take back Fannie Mae bonuses" (6-9-06)

"The government will pursue some Fannie Mae executives to recover bonus money they reaped in an accounting scheme, if the mortgage giant itself fails to do so, an official said Thursday, according to media accounts."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

InmanNews.com - "Interest rates may have 'topped'" (6-9-06)

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

RealEstateJournal.com - "Real-Estate Slowdown Causes Condo Conversion Aversion" (6-8-06)

"Now, Gateway's owner, faced with slow sales, is reversing course and reverting to apartments. Although one-third of the 319 units had been upgraded in anticipation of sales, no deals were closed. The owner had to refill the complex with renters, so incentives -- like lower rent -- were offered. Current tenants say they weren't given the same perks when they looked into resigning their leases."

"As double-digit housing-price appreciation cools in many markets, rental apartments once seen as ripe for conversion into more lucrative condominiums are beginning to return to their roots."

CNN.com - "Net household wealth hits record high" (6-9-06)

"Real estate and financial assets add to household wealth; business borrowing rises at the fastest pace in almost six years."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

CNN.com - "Bernanke: More productivity gains coming" (6-9-06)

"Fed chief tells grads the gains of the last 10 years will still run as new technology filters into the workplace."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

CNN.com - "Fed chief: Clear dialog with markets" (6-9-06)

Fed chief Bernanke enlists vice chairman nominee Donald Kohn to study how central bank could improve transparency after facing criticism for sending out mixed messages.

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Thursday, June 08, 2006

Business Weekly - "Will Bernanke Tank Housing?" (6-8-06)

"Real estate stocks have been on a steep slide. Shares fell further this week after a downgrade by Wachovia Securities. Since their peaks last summer, Pulte Homes (PHM ), D.R. Horton (DHI ), Lennar (LEN ), KB Homes (KBH ), and Toll Brothers (TOL ), among others, have lost anywhere from one-third to more than a half of their stock market values."

This article touches on several issue Bruce covered in the California Crash. Once builders slow down, expect several industries to be hit. Expect even more migration out of California.

See also Business Weekly article "The Chill in Bernanke's Words" (6-6-06)

Wednesday, June 07, 2006

CNN.com - "Applications for home loans decline" (6-7-06)

"Weekly mortgage index is down 28 percent compared to the same period one year ago, says Mortgage Bankers Association."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Chron.com - "Homebuilders Are Slammed by Downgrades" (6-6-06)

Shares of major homebuilding companies fell again on Tuesday in reaction to ratings downgrades, fears of higher interest rates and lower full-year outlooks for the cooling housing market.

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

HOBB.org - "California developers put profits before safety" (6-6-06)

On May 26, the California Building Industry Association and executives with 24 of the state's largest development firms sent letters to all members of the Assembly. They wrote that AB 3050 would force developers to "pull back on plans to build housing in already flood-protected areas of the San Joaquin and Sacramento Valleys." The result would be that "housing that tens of thousands of families look to us to produce in growing areas of the Central Valley would simply not get built."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Tuesday, June 06, 2006

ALTA.org - "Higher Mortgage Rates Are Slowing Home Price Growth" (6-6-06)

"Freddie Mac (NYSE: FRE) released its latest quarterly national Conventional Mortgage Home Price Index (CMHPI) which revealed that the CMHPI rose 8.7 percent in the first quarter 2006 on an annualized basis, down from a revised fourth quarter 2005 annualized rate of 12.9 percent and a third quarter 2005 growth rate of 13.7 percent."

NAR.org - "Home Sales Settling Down and Appreciation Slowing" (6-6-06)

"The housing boom has ended but sales at historically healthy levels will continue, and price appreciation will return to normal patterns across much of the country, according to the National Association of Realtors®."

David Lereah, NAR’s chief economist, said home sales are settling into a slower pace. “In recent years we were occasionally challenged to find appropriate superlatives to describe surprisingly high home sales,” he said. “Now the housing market has cooled, but 2006 is still expected to be the third strongest on record. In this case, experiencing a slowing from a hot market is a good thing because we need a solid housing sector to provide an underlying base to the economy, and slower appreciation will help to preserve long-term affordability. But this is a time for the Fed to pause on rate hikes because we have some interest-sensitive housing markets that have become vulnerable.”

NAR.org - "Realtors® Ask FDIC To Keep Home Depot Out of Banking" (6-6-06)

The acquisition of a federally insured bank by Home Depot could create potential conflicts of interest, pose risk to the nation’s financial system and discourage competition in financial services, the president of the National Association of Realtors® and presidents of all 54 state and territorial Realtor® associations told the Federal Insurance Deposit Corporation today.

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Real Estate Journal - "Home Prices Up 12.5% in 2005, But Rise Just 2% in First Quarter" (6-6-06)

"U.S. home prices rose at the slowest pace in two years in the first quarter, as some once-hot markets in California saw prices fall."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Monday, June 05, 2006

FreddieMac.com - "Higher Mortgage Rates are Slowing Down Home Price Growth" (6-5-06)

"First Quarter 2006 Appreciation Slows To 8.7 Percent On An Annualized Basis."

"The Pacific states posted the strongest home-value appreciation in the U.S., with quarterly appreciation of 13.3 percent at an annualized rate during the first quarter, followed by the South Atlantic region with gains of 12.7 percent. The Middle Atlantic region came next, with gains of 9.8 percent. The Mountain states experienced average price growth of nine percent with the West South Central states after that with 8.6 percent growth. The East South Central division saw an increase of 5.7 percent while New England had gains of 5.2 percent. The East North Central states had the second slowest annual appreciation of three percent annually. Finally, the West North Central states came in last with a growth rate of only 2.5 percent."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

InmanNews.com - "Real estate market slowdown a boon to some buyers" (6-5-06)

Slowing price growth, growing inventory creates benefits in some areas

Real Estate Journal - "Second-Home Housing Glut; Real-Estate Bubble Losing Air" (6-1-06)

"People don't believe in the laws of supply and demand anymore," says Alan Skrainka, chief market strategist at Edward Jones. "We're not saying it's a bubble, but we're saying prices are overstated and will likely correct 20% to 25% over four or five years."

He rejects a notion advanced by housing bulls that shore communities in Florida and California will be protected because of the limited supply of coastline. "Japanese real estate and land prices went down for 15 years and Japan is an island," Skrainka says.

CNN.com - "Bernanke: Economic activity slows, while inflation rises" (5-6-06)

"Read Bernanke's comments on the outlook for the economy and the implications for monetary policy."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

MSN.com - "Bernanke's inflation warning slams stocks" (6-5-06)

Fed boss wants inflation expectations reined in. Dow tumbles more than 160. Iran's supreme leader warns about possible disruption of the oil markets. Home builders struggle after more disappointing data on orders.

Sunday, June 04, 2006

LATimes.com - "Interest-only mortgages -- with a welcome twist" (6-5-06)

Some borrowers with affordability issues are opting for a rate that stays fixed for the life of the home loan.

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Friday, June 02, 2006

OCRegister.com - "O.C. home prices up 19 percent, feds say" (6-1-06)

"Government analysis contradicts other surveys showing annual appreciation has dropped into single digits."

ALTA.org - "Fear Of Inflation Causes Mortgage Rates To Bump Up This Week" (6-2-06)

"The Fed released the minutes of its most recent FOMC meeting, which showed that some members were concerned about inflationary pressure.This caused the bond market yields to rise, and brought about market speculation that the Fed may hike rates sooner than had been expected," said Frank Nothaft, Freddie Mac vice president and chief economist. "All this combined to nudge rates up again this week.

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Reuters.com - "Housing futures flag a cool-down" (6-2-06)

"Activity has been slow, as might be expected for a vehicle that debuted just before Memorial Day, but early sentiment is providing another sign the hot housing market may be cooling."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

Reuters.com - "Fed should aim to lower core inflation: Moskow" (6-2-06)

"U.S. inflation will likely stay contained but is at the top end of the price-stability zone and interest-rate policy should aim to move it down, Chicago Federal Reserve President Michael Moskow said on Friday."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

SacBee.com - "HOLDEN LEWIS: Nontraditional mortgages" (6-2-06)

"The argument is about what federal regulators call "nontraditional" mortgages - home loans in which the borrower is required to pay only interest, and not principal, for the first few years. About one-quarter of new mortgages are nontraditional loans, up from a negligible market share just five years ago. These mortgages' popularity worries regulators, because the loans are considered riskier. Some nontraditional loans, called payment-option adjustable-rate mortgages, don't even require the borrower to pay the interest accrued: The amount owed can increase every month."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

SFGate.com - "Dubai-based firm buys California home builder for $1 billion" (6-2-06)

"A real estate company based in United Arab Emirates acquired California home builder John Laing Homes for $1 billion in cash."

"Newport Beach-based John Laing is the second-largest privately held home builder in the United States."

"Its acquisition marks the first U.S. venture by Dubai-based Emaar Properties, one of the world's largest developers."

Emaar Properties is busy not only in California now but is currently the developer on the Burj Duabi project which will include the tallest building in the world (designed by U.S. architect SOM). Check out Emaar's website and see the billions they are spending on development around the world.

CNN.com - "Apartment rents heading higher in '06" (6-1-06)

"Forecasts show biggest jump since 2000 as buying homes becomes harder; increased demand stems from higher mortgage rates, home prices."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

CNN.com - "Home price gains slowest in two years" (6-1-06)

"First-quarter growth slowest since the first quarter of 2004; some states show declines."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

NAR.org - "Index Based on Pending Home Sales Slides" (6-1-06)

"The Pending Home Sales Index,* based on contracts signed in April, fell 3.7 percent to a level of 111.8 from an index of 116.1 in March, and is 11.7 percent below April 2005. This marks the third consecutive monthly decline."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

California Real Estate Investing News

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California Real Estate Investing News

Tuesday, June 20, 2006

Monday, June 19, 2006

Saturday, June 17, 2006

Thursday, June 15, 2006

Wednesday, June 14, 2006

Tuesday, June 13, 2006

Monday, June 12, 2006

Friday, June 09, 2006

Thursday, June 08, 2006

Wednesday, June 07, 2006

Tuesday, June 06, 2006

Monday, June 05, 2006

Sunday, June 04, 2006

Friday, June 02, 2006

About Me

Subscribe to CA Real Estate Headline Roundup RSS Feed

Subscribe via email

Have you check out "I Survived Real Estate 2008"

Subscribe To California Headline Roundup

Blog Archive

Followers

Links