Real Estate News 11.26.2014
"WASHINGTON (November 26, 2014)—Pending home sales declined in October but remained at a healthy level of activity and are above year-over-year levels for the second straight month, according to the National Association of Realtors®."
"WASHINGTON (November 24, 2014) – Despite a slowing global economy, forward economic momentum in the U.S. should keep commercial real estate activity on firmer footing, according to the National Association of Realtors® quarterly commercial real estate forecast."
"The federal regulator overseeing Fannie Mae and Freddie Mac will now allow certain foreclosed borrowers to buy back the homes they lost — so long as they pay the full current value of the property."
"In the realm of mortgages backed by Fannie Mae and Freddie Mac, California tends to fall into two categories -- high-cost counties where eligible single-family home loans can't be higher than $625,500 (Los Angeles, Orange) or those with the standard limit of $417,000 limit (Riverside, San Bernardino).'
"By most measures, the housing market these days is a bit sluggish. Prices are flat. Sales are drooping. A lot of people are priced out."
"Bank earnings climbed to $38.7 billion in third quarter 2014 as institutions saw jumps in trading and other revenue, according to the latest report released today by the Federal Deposit Insurance Corp."
"Yael Ishakis, a loan officer for First Meridian Mortgage, rejected an application three weeks ago from a woman who had a high credit score and a 20 percent down payment."
"There is a key provision buried in the Transportation, Housing and Urban Development and Related Agencies Appropriations Act for Fiscal Year 2015 that if implemented, is causing lenders to be concerned about the potentially costly impact it could have to them."
"(Reuters) - The U.S. economy grew at a much faster pace than initially thought in the third quarter, pointing to strengthening fundamentals that should help it weather slowing global demand."
"Home prices were absolutely flat in September, following a weak August, according to the Federal Housing Finance Agency."
"A $40 million penalty wasn’t enough to keep the owner of San Francisco’s Parkmerced apartment complex from the chance to lock in record-low interest rates and take advantage of the property’s $1.5 billion value."
"Nov. 26, 2014--Fisher, Lynn email@example.com; Kan, Joel firstname.lastname@example.org
Recent housing indicators have pointed to growth in the housing market. These developments are likely a result of broader economic growth in the U.S. that is gaining momentum, along with employment conditions secure enough that households are starting to reenter the housing market."
"Nov. 26, 2014--Tucker, Michael email@example.com
U.S. multifamily investment could surpass 2007’s record this year, exceeding $105 billion, reported CBRE, Los Angeles."
"The record-setting settlement between Bank of America (BAC), the U.S. Department of Justice, certain federal agencies and six states to resolve claims over toxic residential mortgage-backed securities has cleared all of the regulatory and legal hurdles and is now finalized, according to a new report from Bloomberg."
"Mortgage rates remained around 4% as America heads into the holidays, the latest Freddie Mac Primary Mortgage Market Survey found."
"Mortgage originations reversed a four-quarter trend in the third quarter, rising for the first time in a year, according to the Quarterly Report on Household Debt and Credit from the Federal Reserve Bank of New York."
"There were 313,000 initial jobless claims in the week ending Nov. 22, a dramatic increase of 21,000 for the week before.'