NAR - "Home Sales Projected to Fluctuate Narrowly With a Gradual Upturn" (6-6-07)

"Home sales are projected to move in a relatively narrow range with a gradual upturn becoming more pronounced by the end of the year, according to the latest forecast (PDF 136k) by the National Association of Realtors®."

CAR - "California REALTORS® converge in Sacramento for 37th Annual Legislative Day" (6-6-07)

"More than 2,000 members of the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) are in Sacramento today to participate in the Association’s 37th Annual Legislative Day activities. Among the day's events are opportunities for REALTORS® to meet with the state's political leaders. During the morning briefing, scheduled from 9 a.m. to 11 a.m. at the Sacramento Convention Center, Senator Lou Correa will speak about issues affecting the real estate industry. REALTORS® then meet with their elected officials during the afternoon. At the Capitol Reception at the Sheraton Grand Hotel, C.A.R.’s valued political contributors and state VIPs mix and mingle with California’s power elite from 5:30 p.m. to 7:30 p.m."

MBA - "Q1 2007 Commercial/Multifamily Loan Originations Down From Q4 But Remains Strong Overall" (6-6-07)

"Commercial and multifamily mortgage bankers' loan originations were strong in the first quarter, according to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations . While down from the fourth quarter of last year, first quarter originations were up 37 percent compared to the same period last year. The increase was seen across all property types and most investor groups."

MBA - "SEC Publishes Final Rules of Credit Rating Agencies Registered as National Statistical Rating Agencies" (6-6-07)

"The Commission is adopting rules to implement provisions of the Credit Rating Agency Reform Act of 2006 (the “Rating Agency Act”), enacted on September 29, 2006. The Rating Agency Act defines the term “nationally recognized statistical rating organization,” provides authority for the Commission to implement registration, recordkeeping, financial reporting, and oversight rules with respect to registered credit rating agencies, and directs the Commission to issue final implementing rules no later than 270 days after its enactment (or by June 26, 2007). The rule and form prescribing the process for a credit rating agency to apply for registration are immediately effective. The remaining rules are effective on June 26, 2007."

MBA - "Mortgage Applications Decrease Slightly In Latest MBA Survey" (6-6-07)

"The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 1, 2007. This week’s results include an adjustment to account for the Memorial Day holiday. The Market Composite Index, a measure of mortgage loan application volume, was 625.3, a decrease of 1.7 percent on a seasonally adjusted basis from 636.4 one week earlier. On an unadjusted basis, the Index decreased 12 percent compared with the previous week and was up 16.5 percent compared with the same week one year earlier."

Seeking Alpha - "A Look At U.S. Home Price Performance in 20 Markets" (6-6-07)

"S&P/Case Shiller recently released the March figures for median home prices in the 20 cities they analyze. As many of you know, the Chicago Merc trades futures contracts based on these home-price indices."

Mish's Global Economic Trend Analysis - "In Love With Debt" (6-6-07)

"The idea that debt is good may be counterintuitive, but the U.S. should have more debt, not less. .... Debt is good. Historically, big deficits are followed by stock-market returns that are dramatically superior to those following surpluses--for as long as 36 months out."

eFinanceDirectory.com - "83 Percent of San Diego Homebuyers Used ARMS in June 2005" (6-6-07)

"Adjustable rate mortgage loans can be very enticing for home shoppers who are looking to keep their payments low. These types of mortgage loans are especially attractive to buyers who live in a high-priced housing market and can't afford the payments on a traditional mortgage loan."

Orange County Register - "O.C. real estate agencies a half-billion buck business" (6-6-07)

"Register real estate reporter Jeff Collins tipped me off to this fresh Census business data (sadly, as of 2005) that shows what's at risk in the local housing crunch in terms of real estate agencies/brokerages and their employees in The O.C. From 1998 to 2005, the number of separate agencies grew by 127 percent to 1,658 as the number of employees (not independent agents) grew by 79 percent to 7,218 while payrolls (not including commissions to independent agents) grew by 141 percent to $511.6 million."

USA Today - "Taos, N.M.: Single-family homes can take almost 1 year to sell" (6-6-07)

"The "hippie invasion" of Taos occurred in the late 1960s, according to the timeline on the Taos County Historical Society's website. This small town, with a population of about 5,000, still has a funky edge and a relatively low bling factor, despite a few part-time residents like Julia Roberts and Lauren Hutton. But Taos began evolving about six years ago as condos sprang up and baby boomers (no longer in tie-dyed T-shirts) started buying second homes to enjoy the nearby skiing and outdoor lifestyle, says Harvey Blaustein, owner of a local realty firm."

The Modesto Bee - "Con artists try to get foot in the door" (6-6-07)

"Con artists are a clever and endearing bunch, and they're making a fortune ripping off homeowners and lenders through assorted fraudulent real estate schemes. That's the message fraud investigators are trying to get out, along with tips for spotting scams."

San Diego Predatory Lending - "COUNTRYWIDE’S REO’S UP 251% FROM FEB & 30% LAST MONTH!" (6-6-07)

"This story is going from interesting to scary. In May, Countrywide added 374 properties (net of sales) to their website here. Since February 17, 2007 when I started tracking California REO’s at Countrywide Financial they have gone up by 251%. That’s an annualized rate of 880% or almost 9 times the amount of REO’s they will have had 12 months ago if the trend holds."

Financial News - "A brief history of blowing bubbles" (6-6-07)

"Most economists are suspicious of the notion of bubbles, or irrational manias in which the price of an asset is driven up irrespective of underlying fundamentals. They think they are rather like fairy stories, whose tellers are driven by a perverse propensity to deny the fundamental rationality of human behaviour. Their views are again being put to the test by the apparent bubbles – rational or otherwise – in the Chinese stock market, real estate in many parts of the world, and others besides."

Los Angeles Times - "Title Insurance Is A Scam. Help Is Coming. In 2009." (6-6-07)

"We've wanted to weigh in on the title insurance scam for a while now, but Blown Mortgage beat us to the punch with this excellent piece that should make your blood boil, unless of course you are part of the title insurance game. As Kenneth Harney pointed out here six weeks ago, a Congressional report concluded that title agents pocket up to 90% of your premiums, and the business is rife with scams, kickbacks, and inside deals that prevent competition and consumer choice."

Real Estate Journal - "Using Real Estate to Build Your Retirement Portfolio" (6-6-07)

"Four years ago, Vincent McCord was approached by a developer about investing in the construction of a Las Vegas shopping center. He liked the project and wanted to diversify his portfolio beyond stocks, bonds, and mutual funds. But the bulk of his investment assets were in an individual retirement account at a firm that, like most custodians, does not permit real estate other than publicly-traded real estate investment trusts or mutual funds that invest in them."

CAR - "California REALTOR® Showcase opens in Sacramento" (6-6-07)

"Taking place at the Sacramento Convention Center from June 6 - 7, the California REALTOR® Showcase will feature nearly 100 exhibitors highlighting the latest real estate products and services to help REALTORS® stay informed. Presented by the CALIFORNIA ASSOCIATION OF REALTORS®, the California REALTOR® Showcase will be open on June 6 from 12 noon to 5 p.m. and on June 7 from 9 a.m. to 5 p.m. Nearly 3,000 REALTORS® are expected to attend."

NAHB - "Nearly 100,000 Green Homes Certified Through Market-Driven Green Building Nationwide, Says NAHB" (6-6-07)

"A new survey of local home building associations reveals that more than 97,000 homes have been built and certified by voluntary, builder-supported green building programs around the country since the mid-1990s, according to the National Association of Home Builders. That’s more than a 50 percent increase from the last survey of green homes: In 2004, the National Association of Home Builders Research Center counted 61,000 green homes in the United States."