Daily Real Estate News, September 23, 2010
Applications to purchase homes declined 3.3 percent last week on a seasonally adjusted basis compared to the previous week, according to the Mortgage Bankers Association weekly survey.
On an unadjusted basis, the purchase index increased 18.9 percent compared to the previous week, which included Labor Day, but was 38 percent lower than the same week a year ago.
Mortgage rates declined slightly compared to the previous week:
· 30-year fixed-rate mortgages decreased to 4.44 percent from 4.47 percent;
· 15-year fixed-rate mortgages decreased to 3.88 percent from 3.96 percent;
· 1-year ARMs increased to 6.96 percent from 6.89 percent.
Source: Mortgage Bankers Association (09/22/2010)
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (www.homejames-usa.com, www.homejames-california.com, www.homejames-sandiego.com, www.homejames-lajolla.com, www.homejames-ranchosantafe.com, www.homejames-orangecounty.com, http://www.invest-in-california-property.com/)
Thursday, September 23, 2010
Higher Conforming Loan Limits Due to Expire
Daily Real Estate News, September 23, 2010
Unless Congress intervenes, the maximum amount the Federal Housing Administration as well as loans backed by Fannie Mae and Freddie Mac can back will return to $417,000 in most areas and $625,500 in a high-cost areas.
Over the last two years, the government raised the limits in some high-cost areas to $729,750.
If Congress doesn’t extend higher limits, home prices would "drop precipitously" because it would be "impossible to finance homes in most parts of Los Angeles and certain other major cities," said Rep. Brad Sherman, a California Democrat and member of the House Financial Services Committee,
But many economists support the end to higher limits. "We need to think how we are going to exit from a Fannie-and-Freddie world, and this is a very small step toward that exit," said Richard K. Green, director of the University of Southern California's Lusk Center for Real Estate. "Dialing it back to $625,500 is a perfectly reasonable thing to do."
Source: The Wall Street Journal, Nick Timiraos (09/23/2010)
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (www.homejames-usa.com, www.homejames-california.com, www.homejames-sandiego.com, www.homejames-lajolla.com, www.homejames-ranchosantafe.com, www.homejames-orangecounty.com, http://www.invest-in-california-property.com/)
Unless Congress intervenes, the maximum amount the Federal Housing Administration as well as loans backed by Fannie Mae and Freddie Mac can back will return to $417,000 in most areas and $625,500 in a high-cost areas.
Over the last two years, the government raised the limits in some high-cost areas to $729,750.
If Congress doesn’t extend higher limits, home prices would "drop precipitously" because it would be "impossible to finance homes in most parts of Los Angeles and certain other major cities," said Rep. Brad Sherman, a California Democrat and member of the House Financial Services Committee,
But many economists support the end to higher limits. "We need to think how we are going to exit from a Fannie-and-Freddie world, and this is a very small step toward that exit," said Richard K. Green, director of the University of Southern California's Lusk Center for Real Estate. "Dialing it back to $625,500 is a perfectly reasonable thing to do."
Source: The Wall Street Journal, Nick Timiraos (09/23/2010)
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (www.homejames-usa.com, www.homejames-california.com, www.homejames-sandiego.com, www.homejames-lajolla.com, www.homejames-ranchosantafe.com, www.homejames-orangecounty.com, http://www.invest-in-california-property.com/)
GOP Hopes to End Support for Fannie and Freddie
Daily Real Estate News, September 23, 2010
The House Republicans said Wednesday that they hope to include on the party’s policy platform a plank that will end government support for mortgage guarantee agencies Fannie Mae and Freddie Mac.
The Republicans also would end the Troubled Asset Relief Program, the program created at the peak of the crisis to deal with the financial meltdown.
Unless the Republicans succeed in retaking the House, they're unlikely to achieve success in these goals, observers say.
Source: the Wall Street Journal, Corey Boles (09/22/2010)
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (www.homejames-usa.com, www.homejames-california.com, www.homejames-sandiego.com, www.homejames-lajolla.com, www.homejames-ranchosantafe.com, www.homejames-orangecounty.com, http://www.invest-in-california-property.com/)
The House Republicans said Wednesday that they hope to include on the party’s policy platform a plank that will end government support for mortgage guarantee agencies Fannie Mae and Freddie Mac.
The Republicans also would end the Troubled Asset Relief Program, the program created at the peak of the crisis to deal with the financial meltdown.
Unless the Republicans succeed in retaking the House, they're unlikely to achieve success in these goals, observers say.
Source: the Wall Street Journal, Corey Boles (09/22/2010)
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (www.homejames-usa.com, www.homejames-california.com, www.homejames-sandiego.com, www.homejames-lajolla.com, www.homejames-ranchosantafe.com, www.homejames-orangecounty.com, http://www.invest-in-california-property.com/)
Wednesday, September 22, 2010
Federal Reserve Leaves Rates Alone
Daily Real Estate News, September 22, 2010
The Federal Reserve issued a statement on Tuesday saying that it will hold off on further efforts to stimulate the economy and keep the federal funds rate at or near zero, but signaled that it was ready to step in with further action if necessary.
The Open Market Committee said in a release,“The Committee will continue to monitor the economic outlook and financial developments and is prepared to provide additional accommodation if needed to support the economic recovery and to return inflation, over time, to levels consistent with its mandate.”
The Fed apparently debated resuming securities purchases aimed at driving long-term interest rates even lower. Those who were opposed said it is likely this approach won’t work.
Source: Bloomberg, Craig Torres (09/21/2010)
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (www.homejames-usa.com, www.homejames-california.com, www.homejames-sandiego.com, www.homejames-lajolla.com, www.homejames-ranchosantafe.com, www.homejames-orangecounty.com, http://www.invest-in-california-property.com/)
The Federal Reserve issued a statement on Tuesday saying that it will hold off on further efforts to stimulate the economy and keep the federal funds rate at or near zero, but signaled that it was ready to step in with further action if necessary.
The Open Market Committee said in a release,“The Committee will continue to monitor the economic outlook and financial developments and is prepared to provide additional accommodation if needed to support the economic recovery and to return inflation, over time, to levels consistent with its mandate.”
The Fed apparently debated resuming securities purchases aimed at driving long-term interest rates even lower. Those who were opposed said it is likely this approach won’t work.
Source: Bloomberg, Craig Torres (09/21/2010)
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (www.homejames-usa.com, www.homejames-california.com, www.homejames-sandiego.com, www.homejames-lajolla.com, www.homejames-ranchosantafe.com, www.homejames-orangecounty.com, http://www.invest-in-california-property.com/)
GSEs Eye Standards Shift for Appraisals
Daily Real Estate News, September 22, 2010
Recently enacted Wall St. reforms require the Federal Housing Finance Agency, the regulator of Fannie Mae and Freddie Mac, to come up with appraisal standards to replace the Home Valuation Code of Conduct by Oct. 21.
The law retains the basic intent of HVCC, which is for lenders to keep an arm's length distance between them and the appraiser, and it continues to allow appraisal decisions to be left in the hands of appraisal management companies, if lenders so choose.
But it attempts to prevent abuses by, among other things, blocking AMCs from negotiating fees with appraisers. Lenders and AMCs must pay appraisers at the market rate.
Source: American Banker, Brian Collins (09/22/10).
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (www.homejames-usa.com, www.homejames-california.com, www.homejames-sandiego.com, www.homejames-lajolla.com, www.homejames-ranchosantafe.com, www.homejames-orangecounty.com, www.invest-in-california-property.com)
Recently enacted Wall St. reforms require the Federal Housing Finance Agency, the regulator of Fannie Mae and Freddie Mac, to come up with appraisal standards to replace the Home Valuation Code of Conduct by Oct. 21.
The law retains the basic intent of HVCC, which is for lenders to keep an arm's length distance between them and the appraiser, and it continues to allow appraisal decisions to be left in the hands of appraisal management companies, if lenders so choose.
But it attempts to prevent abuses by, among other things, blocking AMCs from negotiating fees with appraisers. Lenders and AMCs must pay appraisers at the market rate.
Source: American Banker, Brian Collins (09/22/10).
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (www.homejames-usa.com, www.homejames-california.com, www.homejames-sandiego.com, www.homejames-lajolla.com, www.homejames-ranchosantafe.com, www.homejames-orangecounty.com, www.invest-in-california-property.com)
Owners, Practitioners Think Prices Will Fall
Daily Real Estate News, September 22, 2010
About 48 percent of real estate professionals and 33 percent of homeowners believe home prices will decline over the next six months, according to a survey by HomeGain.
Only 10 percent of real estate professionals and 18 percent of homeowners believe home prices will increase in the next six months.
Sellers continue to doubt the accuracy of prices recommended by practitioners, with 79 percent believing that their homes are worth more than professional appraisals.
On the other side of the fence, 69 percent of practitioners say that their home-buying clients think homes for sale are overpriced.
Source: Real Estate Economy Watch, Steve Cook (09/21/2010)
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (http://www.homejames-usa.com/, http://www.homejames-california.com/, http://www.homejames-sandiego.com/, http://www.homejames-lajolla.com/, http://www.homejames-ranchosantafe.com/, http://www.homejames-orangecounty.com/, http://www.invest-in-california-property.com/)
About 48 percent of real estate professionals and 33 percent of homeowners believe home prices will decline over the next six months, according to a survey by HomeGain.
Only 10 percent of real estate professionals and 18 percent of homeowners believe home prices will increase in the next six months.
Sellers continue to doubt the accuracy of prices recommended by practitioners, with 79 percent believing that their homes are worth more than professional appraisals.
On the other side of the fence, 69 percent of practitioners say that their home-buying clients think homes for sale are overpriced.
Source: Real Estate Economy Watch, Steve Cook (09/21/2010)
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (http://www.homejames-usa.com/, http://www.homejames-california.com/, http://www.homejames-sandiego.com/, http://www.homejames-lajolla.com/, http://www.homejames-ranchosantafe.com/, http://www.homejames-orangecounty.com/, http://www.invest-in-california-property.com/)
Friday, September 10, 2010
30-Year Mortgage Rates Rise
Daily Real Estate News, September 10, 2010
Average interest on 30-year fixed mortgages rose for the first time since June, lifting to 4.35 percent this week from 4.32 percent last week and 5.07 percent a year ago, reports Freddie Mac. Rates for 15-year fixed loans held at 3.83 percent, the record low set last week.
Also, the five-year adjustable-rate mortgage averaged 3.56 percent, compared to 3.54 percent last week and 4.51 percent a year ago; and the one-year ARM fell to 3.46 percent from 3.5 percent last week and 4.64 percent a year ago.
Source: The Wall Street Journal, Amy Hoak (09/10/10)
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (http://www.homejames-usa.com/, http://www.homejames-california.com/, http://www.homejames-sandiego.com/, http://www.homejames-lajolla.com/, http://www.homejames-ranchosantafe.com/, http://www.homejames-orangecounty.com/, http://www.invest-in-california-property.com/)
Average interest on 30-year fixed mortgages rose for the first time since June, lifting to 4.35 percent this week from 4.32 percent last week and 5.07 percent a year ago, reports Freddie Mac. Rates for 15-year fixed loans held at 3.83 percent, the record low set last week.
Also, the five-year adjustable-rate mortgage averaged 3.56 percent, compared to 3.54 percent last week and 4.51 percent a year ago; and the one-year ARM fell to 3.46 percent from 3.5 percent last week and 4.64 percent a year ago.
Source: The Wall Street Journal, Amy Hoak (09/10/10)
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (http://www.homejames-usa.com/, http://www.homejames-california.com/, http://www.homejames-sandiego.com/, http://www.homejames-lajolla.com/, http://www.homejames-ranchosantafe.com/, http://www.homejames-orangecounty.com/, http://www.invest-in-california-property.com/)
Wednesday, September 8, 2010
California Movers Are Nation's Busiest
Daily Real Estate News, September 8, 2010
SiteSelection.com, a publication for corporate real estate and economic development, reports that more people are moving into and out of California than any other state.
In the Golden State, the number of outbound moves by the 700 or so moving companies in the movers.com network rose 10.3 percent, while incomers increased 9.4 percent.
In terms of population changes, SiteSelection states that New York lost 33 percent more people than it gained. Texas, meanwhile, gained 50 percent more people than moved out.
Source: Orange County Register, Jan Norman (09/05/2010)
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (www.homejames-usa.com, www.homejames-california.com, www.homejames-sandiego.com, www.homejames-lajolla.com, www.homejames-ranchosantafe.com, www.homejames-orangecounty.com, www.invest-in-california-property.com)
SiteSelection.com, a publication for corporate real estate and economic development, reports that more people are moving into and out of California than any other state.
In the Golden State, the number of outbound moves by the 700 or so moving companies in the movers.com network rose 10.3 percent, while incomers increased 9.4 percent.
In terms of population changes, SiteSelection states that New York lost 33 percent more people than it gained. Texas, meanwhile, gained 50 percent more people than moved out.
Source: Orange County Register, Jan Norman (09/05/2010)
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (www.homejames-usa.com, www.homejames-california.com, www.homejames-sandiego.com, www.homejames-lajolla.com, www.homejames-ranchosantafe.com, www.homejames-orangecounty.com, www.invest-in-california-property.com)
Inventories Climb in ZipRealty's 26 Markets
Daily Real Estate News, September 8, 2010
Housing inventories rose an average 0.4 percent in August, the eighth-straight month they have increased in the major 26 metropolitan areas served by ZipRealty Inc.
Compared to August of 2009, inventories are up an average of 10.6 percent, ZipRealty reports. Western markets’ inventories rose the most year-over-year with increases of 59 percent in San Diego, 43 percent in Orange County, Calif., and 25 percent in Los Angeles.
Inventories fell year-over-year in Miami by 8.6 percent, in Chicago by 2.2 percent, and in Orlando, Fla., by 2.2 percent.
Pat Lashinsky, CEO of ZipRealty, attributes the declines to sellers taking their homes off the market. “Sellers have realized, ‘I just can’t get the price I want. Instead, I’m going to stay here,’” Lashinsky says.
Source: The Wall Street Journal, Nick Timiraos (09/07/2010)
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (www.homejames-usa.com, www.homejames-california.com, www.homejames-sandiego.com, www.homejames-lajolla.com, www.homejames-ranchosantafe.com, www.homejames-orangecounty.com, http://www.invest-in-california-property.com/)
Housing inventories rose an average 0.4 percent in August, the eighth-straight month they have increased in the major 26 metropolitan areas served by ZipRealty Inc.
Compared to August of 2009, inventories are up an average of 10.6 percent, ZipRealty reports. Western markets’ inventories rose the most year-over-year with increases of 59 percent in San Diego, 43 percent in Orange County, Calif., and 25 percent in Los Angeles.
Inventories fell year-over-year in Miami by 8.6 percent, in Chicago by 2.2 percent, and in Orlando, Fla., by 2.2 percent.
Pat Lashinsky, CEO of ZipRealty, attributes the declines to sellers taking their homes off the market. “Sellers have realized, ‘I just can’t get the price I want. Instead, I’m going to stay here,’” Lashinsky says.
Source: The Wall Street Journal, Nick Timiraos (09/07/2010)
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (www.homejames-usa.com, www.homejames-california.com, www.homejames-sandiego.com, www.homejames-lajolla.com, www.homejames-ranchosantafe.com, www.homejames-orangecounty.com, http://www.invest-in-california-property.com/)
Home Purchase Applications Rise 6.3%
Daily Real Estate News, September 8, 2010
Applications to purchase homes increased 6.3 percent last week compared to the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association weekly survey.
On an unadjusted basis, purchases rose 4 percent compared to the previous week, but were down 38.8 percent from the same week a year ago.The Refinance Index decreased 3.1 percent from the previous week.
“Purchase applications increased last week, reaching the highest level since the end of May. However, purchase activity remains well below levels seen prior to the expiration of the homebuyer tax credit, and is almost 40 percent below the level recorded one year ago,” said Michael Fratantoni, MBA’s vice president of research and economics.
Mortgage rates rose slightly last week:
* 30-year fixed-rate mortgages increased to 4.5 percent from 4.43 percent.
* 15-year fixed-rate mortgages increased to 4 percent from 3.88 percent.
*1-year ARMs increased to 7 percent from 6.95 percent.
Source: Mortgage Bankers Association (09/08/2010)
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (www.homejames-usa.com, www.homejames-california.com, www.homejames-sandiego.com, www.homejames-lajolla.com, www.homejames-ranchosantafe.com, www.homejames-orangecounty.com, http://www.invest-in-california-property.com/)
Applications to purchase homes increased 6.3 percent last week compared to the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association weekly survey.
On an unadjusted basis, purchases rose 4 percent compared to the previous week, but were down 38.8 percent from the same week a year ago.The Refinance Index decreased 3.1 percent from the previous week.
“Purchase applications increased last week, reaching the highest level since the end of May. However, purchase activity remains well below levels seen prior to the expiration of the homebuyer tax credit, and is almost 40 percent below the level recorded one year ago,” said Michael Fratantoni, MBA’s vice president of research and economics.
Mortgage rates rose slightly last week:
* 30-year fixed-rate mortgages increased to 4.5 percent from 4.43 percent.
* 15-year fixed-rate mortgages increased to 4 percent from 3.88 percent.
*1-year ARMs increased to 7 percent from 6.95 percent.
Source: Mortgage Bankers Association (09/08/2010)
Home, James! ® Ocean View Beach Homes & Condos - San Diego & Orange County - Newport Beach, Corona del Mar, Newport Coast, Laguna Beach, Laguna Niguel, Monarch Beach-Dana Point, Coto de Caza, San Juan Capistrano, San Clemente, Oceanside, Bonsall, Fallbrook, Temecula, Pala, Pauma Valley, Valley Center, Carlsbad, Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, Carmel Valley, Del Mar, La Jolla, Pacific Beach, Point Loma, Downtown San Diego and Coronado Island. If you are seeking a traditional sale, or information about short sales or REO-foreclosures, or for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!®". (www.homejames-usa.com, www.homejames-california.com, www.homejames-sandiego.com, www.homejames-lajolla.com, www.homejames-ranchosantafe.com, www.homejames-orangecounty.com, http://www.invest-in-california-property.com/)
Subscribe to:
Posts (Atom)
.jpg)