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Study: FHA loan limits are larger than now needed

“The Federal Housing Association’s current loan limits are larger than necessary to serve its targeted market of first-time and low to moderate income borrowers, according to a study released Thursday by George Washington University’s Center for Real Estate and Urban Analysis.”

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The booming collapse of housing – why housing will be a bad investment for the current decade. 5 charts exploring the demographic and financial perfect storm with U.S. real estate.

“The American housing market is entering into a perfectly orchestrated storm of demographics, debt, and cultural shifts. Strongholds do fall and deeply held economic beliefs can crumble in a few short months. If you were to tell someone in 2007 that a lost decade in housing values was just around the corner you would have had a heck of a time trying to convince them.”

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Can security deposit be used as last month's rent?

‚ÄúThis week, Griswold and Kellman both take on a question from a landlord who’s not sure how to handle a threat from a renter on his way out.
Question: One of my tenants did not pay rent for June, and when I called to ask where the rent check was, he told me he was giving notice and would be out on or around June 30.”

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Modern homeowners face flood of challenges

“The American dream can keep you up at night.
Beyond anxiety that your biggest investment may be losing value while you sleep, owning a home presents a host of challenges previous generations never pondered. From a rising potential for extreme weather to fears about toxic building materials, there’s plenty to disturb the modern homeowner’s rest.‚Äù

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Rates on 5-year ARM fall to record low

“CHICAGO (MarketWatch) — Rates on 5-year adjustable-rate mortgages hit a record low this week, dropping to 3.22%, according to Freddie Mac’s weekly survey of conforming mortgage rates.”

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Home auctions duel in downtown Riverside

“Those who make their living investing in distressed homes face a new logistics problem in Riverside.
They still can attend the daily trustee sales in front of the old downtown courthouse where, as always, the professional investors gather around an auctioneer in beach chairs and quickly and subtly bid on houses going to foreclosure.”

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Housing slump to last 3 or 4 more years

“The housing slump has been going on for nearly six years.
But it’s going to take another three or four years before the backlog of foreclosures that’s dragging the market down can be cleared, an Irvine housing consultant told Orange County business leaders Wednesday.”

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25% of Irvine listings are distressed homes

“Irvine’s resale housing market has 113 days worth of inventory of residences to sell vs. 112 days countywide. That’s according to the latest inventory math of Orange County broker Steve Thomas.”

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Surf City home market 8% slower vs. O.C.

“Real estate for sale in Huntington Beach is looking slower by this set of statistics.
.
Every two weeks, Orange County broker Steve Thomas publishes a report on the supply of local homes for sale. Here’s what the latest report — as of June 23 — has to say about Huntington Beach …”

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Housing market turning around in several rural states

“The housing market is hurting nationally, but it appears to be marching toward recovery in a handful of mostly rural states, economic forecasters say.”

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