“Coachella Valley home sales rose 9.4 percent in September compared to September 2010, outpacing Riverside County and Southern California, a new report shows.”
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“SOMETIMES the best stimulus is not the biggest, but the one that’s possible. While Barack Obama has been haranguing Congress, without success, to pass his $447 billion stimulus plan, a more modest effort paid off on October 24th when the Federal Housing Finance Agency (FHFA), the regulator of Fannie Mae and Freddie Mac, the two big mortgage-finance companies, made it easier for borrowers to lower the rates they pay on their mortgages.”
“During the week ending October 6th, the average fixed interest rate on a 30-year mortgage dipped below 4% for the first time, according to Freddie Mac.”
“When homeowners fall into foreclosure, the consequences are dire. But when landlords run afoul of their lenders, it can be the tenants who suffer most.”
‚Äú(CNN) — Fannie Mae, Freddie Mac, and the Federal Housing Administration own about 250,000 foreclosed properties awaiting resale.‚Äù
“Perhaps there just aren’t many home left in the Central Valley that haven’t been foreclosed, but for some reason the rate of foreclosures across almost all of the region declined in August, according to figures Thursday from financial information company CoreLogic Inc. (NASDAQ: CLGX) of Santa Ana.”
‚ÄúIf only all the confidence swirling around the stock market today could find its way to potential home buyers across the nation; unfortunately it will take more than a little Greek bounce to right what’s wrong in housing.‚Äù
“Three San Mateo real estate investors and one who does business in the county have pleaded guilty to rigging public foreclosure auctions outside the courthouse in Redwood City by agreeing not to bid against each other, according to the Department of Justice.”
“For the 22 business days ending October 6 — latest DataQuick stats — 70 residences sold in Newport area vs. 60 deals closed in the matching period a year ago — a 16.7% increase over the past 12 months.”
“A major apartment owner with 11 Orange County complexes told Wall Street analysts recently that it sees local rents rising by as much as a 12 percent annual rate soon. According to a transcript of the Equity Residential earnings conference call on Thursday, executives at the real estate trust said of the local market:”
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