LA Times - "U.S. growth may slow further, data suggest" (11-29-06)
"A reading of consumer sentiment, orders for durable goods and home prices all post declines."
Wednesday, November 29, 2006
MBAA.org - "Mortgage Applications Fall in Latest Survey" (11-29-06)
"Overall mortgage applications last week fell 3.9 percent on a seasonally adjusted basis from the week before, taken lower by a significant decline in refinancings, according to the Mortgage Bankers Association's latest survey."
"The seasonally adjusted refinance index decreased by 9.6 percent to 1,749.6 from 1,935.3 the previous week, while the purchase index increased by 1.3 percent to 406.7 from 401.4 one week earlier."
"Overall mortgage applications last week fell 3.9 percent on a seasonally adjusted basis from the week before, taken lower by a significant decline in refinancings, according to the Mortgage Bankers Association's latest survey."
"The seasonally adjusted refinance index decreased by 9.6 percent to 1,749.6 from 1,935.3 the previous week, while the purchase index increased by 1.3 percent to 406.7 from 401.4 one week earlier."
CAR - "'New' loan limits fail to improve homeownership opportunities for Californians" (11-28-06)
"The cost of financing a home will remain prohibitive for many households in California in the wake of the Office of Federal Housing Enterprise Oversight (OFHEO) conforming loan limits for 2007, announced earlier today. The maximum 2007 conforming loan limit for single-family mortgages will remain at $417,000, unchanged from the 2006 level established last year. The conforming loan limit determines the maximum size of a mortgage that Fannie Mae and Freddie Mac can buy or guarantee."
"The cost of financing a home will remain prohibitive for many households in California in the wake of the Office of Federal Housing Enterprise Oversight (OFHEO) conforming loan limits for 2007, announced earlier today. The maximum 2007 conforming loan limit for single-family mortgages will remain at $417,000, unchanged from the 2006 level established last year. The conforming loan limit determines the maximum size of a mortgage that Fannie Mae and Freddie Mac can buy or guarantee."
CAR - "C.A.R. reports sales decrease 28.7 percent in October, median price of a home in California at $548,680, up 2 percent from year ago" (11-28-06)
"Home sales decreased 28.7 percent in October in California compared with the same period a year ago, while the median price of an existing home increased 2 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today."
"Home sales decreased 28.7 percent in October in California compared with the same period a year ago, while the median price of an existing home increased 2 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today."
NAHB - "Builder Confidence In The Rental Apartment Market Surges Amid Signs Of Strong Demand" (11-28-06)
"With demand on the rise and supply still tight, builder confidence in current rental apartment market conditions jumped in the third quarter of 2006, and their expectations for the next six months are even higher, according to the latest results of the National Association of Home Builders’/Fannie Mae Multifamily Rental Market Index (MRMI), released today."
"With demand on the rise and supply still tight, builder confidence in current rental apartment market conditions jumped in the third quarter of 2006, and their expectations for the next six months are even higher, according to the latest results of the National Association of Home Builders’/Fannie Mae Multifamily Rental Market Index (MRMI), released today."
Press Enterprise - "Inland houses remain too pricey for many" (11-28-06)
"Despite a softening housing market, Inland residents are finding it tougher to buy their first house, the California Association of Realtors said Monday."
"Despite a softening housing market, Inland residents are finding it tougher to buy their first house, the California Association of Realtors said Monday."
Tuesday, November 28, 2006
Realty Times - "National Association of Home Builders Mixes Messages About Media Interference With Home Buyers" (11-28-06)
"While the front page of its website blares that it's a great time to buy a home, seemingly in contradiction to the endless stream of negative press about how housing is crashing whether it actually is or not, the National Association of Home Builders commissions a study to find out if the press indeed is behind buyers' reluctance to buy a new home."
"While the front page of its website blares that it's a great time to buy a home, seemingly in contradiction to the endless stream of negative press about how housing is crashing whether it actually is or not, the National Association of Home Builders commissions a study to find out if the press indeed is behind buyers' reluctance to buy a new home."
Yahoo! - "Existing Home Sales Rise, Prices Fall" (11-28-06)
"Sales of Existing Homes Post Small Increase but Prices Post Record Decline"
"Sales of Existing Homes Post Small Increase but Prices Post Record Decline"
Real Estate Jounral - "What to Do in a Market That Is Headed for a Falloff" (11-18-06)
"What to do if you're in a falling market? Obviously, that's a promising climate for a bargain-hunting buyer. A savvy real-estate agent can help you craft a bid that's low enough to save you money, but realistic enough to be accepted. When one of Frank Borges LLosa's clients finds an appealing home, the Northern Virginia broker searches the history of the selling agent -- data not available to consumers -- on the local multiple listing service. If the agent frequently sells below the asking price, Mr. LLosa knows he can be aggressive."
"What to do if you're in a falling market? Obviously, that's a promising climate for a bargain-hunting buyer. A savvy real-estate agent can help you craft a bid that's low enough to save you money, but realistic enough to be accepted. When one of Frank Borges LLosa's clients finds an appealing home, the Northern Virginia broker searches the history of the selling agent -- data not available to consumers -- on the local multiple listing service. If the agent frequently sells below the asking price, Mr. LLosa knows he can be aggressive."
NAR - "Existing Home Sales Rise in October, Market Stabilizing" (11-28-06)
"Sales of existing homes held steady with a modest gain last month, another indicator that the housing market is transitioning into a more normal market in contrast with unsustainable activity last year, according to the National Association of Realtors®."
"Sales of existing homes held steady with a modest gain last month, another indicator that the housing market is transitioning into a more normal market in contrast with unsustainable activity last year, according to the National Association of Realtors®."
Yahoo! - "2006 Subprime Loans Doing Badly" (11-06)
"Subprime loans -- or loans made to borrowers with less than perfect credit -- from 2006 aren't just performing badly. The loans, in particular those used to back mortgage bonds, could prove to be one of the worst-performing groups yet, according to UBS."
"Subprime loans -- or loans made to borrowers with less than perfect credit -- from 2006 aren't just performing badly. The loans, in particular those used to back mortgage bonds, could prove to be one of the worst-performing groups yet, according to UBS."
CNN - "Home prices post record drop in October" (11-28-06)
"Median price sinks 3.5 percent from a year earlier, trade group see more price declines ahead."
"Median price sinks 3.5 percent from a year earlier, trade group see more price declines ahead."
CAR - "Housing affordability at 24 percent for first-time buyers in California" (11-27-06)
"The percentage of first-time buyers in California able to afford a median-priced home stood at 24 percent in the third quarter of 2006, compared with 28 percent for the same period a year ago, according to a report released today by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.)."
"The percentage of first-time buyers in California able to afford a median-priced home stood at 24 percent in the third quarter of 2006, compared with 28 percent for the same period a year ago, according to a report released today by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.)."
Merced Sun Star - "Thousands in county expected to lose homes to foreclosure" (11-27-06)
"Foreclosures are soaring dramatically in the Northern San Joaquin Valley as homeowners struggle with rising mortgage rates, falling home prices and a stagnant real estate market."
"Foreclosures are soaring dramatically in the Northern San Joaquin Valley as homeowners struggle with rising mortgage rates, falling home prices and a stagnant real estate market."
Monday, November 27, 2006
Contra Costa Times - "Drop in enrollment small now, but big ripples seen for future" (11-26-06)
"California's schools will lose students and funding in coming years as baby boomers' babies grow up"
"California's schools will lose students and funding in coming years as baby boomers' babies grow up"
OC Register - "O.C. loan rates fall to 5.942% fixed, 4.396% adjustable" (11-26-06)
"The average rate on a 30-year fixed with a one-point fee slipped to 5.942 percent, National Financial News Services said. The introductory rate on a one-year adjustable fell to 4.396 percent with a two-point fee. The gap between the two rates narrowed to 1.55 percentage points, making fixed rates more attractive because they are less risky and don't cost much more."
"The average rate on a 30-year fixed with a one-point fee slipped to 5.942 percent, National Financial News Services said. The introductory rate on a one-year adjustable fell to 4.396 percent with a two-point fee. The gap between the two rates narrowed to 1.55 percentage points, making fixed rates more attractive because they are less risky and don't cost much more."
The Real Estate Journal - "Economists Say the Worst Of Housing Bust Is Over" (11-22-06)
"The worst of the housing bust is over, economists said by nearly 2-to-1 in the latest WSJ.com economic forecasting survey. But they still predict that the average selling price of a house will fall next year."
"The worst of the housing bust is over, economists said by nearly 2-to-1 in the latest WSJ.com economic forecasting survey. But they still predict that the average selling price of a house will fall next year."
NCTimes.com - "Sales of apartment projects slowing in North San Diego County" (11-21-06)
"Sales of apartment projects in North County and throughout San Diego County have fallen sharply this year over last, after condo-converting investors drove prices upward, according to a survey released Tuesday."
"Sales of apartment projects in North County and throughout San Diego County have fallen sharply this year over last, after condo-converting investors drove prices upward, according to a survey released Tuesday."
NAHB - "Multifamily Builders Still Worried About Weakness In Condo Market" (11-21-06)
“Many of these condo communities are large, urban projects or high-rise communities in resort locations, and as such, they take a long time to plan and build compared to a single-family home” said David Seiders, NAHB’s chief economist. “As a result, multifamily developers cannot simply turn off the supply overnight, so it is going to take a little while before we work through the large overhang of inventory in this sector.”
“Many of these condo communities are large, urban projects or high-rise communities in resort locations, and as such, they take a long time to plan and build compared to a single-family home” said David Seiders, NAHB’s chief economist. “As a result, multifamily developers cannot simply turn off the supply overnight, so it is going to take a little while before we work through the large overhang of inventory in this sector.”
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