Monday, April 23, 2012
Los Angeles Times
A new statistical analysis, based on a large sample of all mortgage applications approved and denied in recent months, offers valuable benchmakers for anyone thinking about refinancing a home purchase or refinancing an exisiting loan.
Read the full story
http://www.latimes.com/business/realestate/la-fi-harney-20120415,0,7325165.story
Thursday, April 12, 2012
Over the past few months, C.A.R. has worked with Bank of America to make changes to the bank’s short sale purchase contract addendum and Short Sale Real Estate Licensee Certification. Starting April 14, along with other changes, agents and brokers are no longer required to sign the Short Sale Addendum.
C.A.R. is pleased BofA has made these changes to its short sale documents in line with C.A.R. recommendations and looks forward to continuing to work with BofA to improve the short sale process in ways that will mutually benefit both REALTORS® and lenders.
https://realestateagent.bankofamerica.com/shortsale/default.aspx
Wednesday, April 4, 2012
CalHFA has announced it will end its School Facility Fee Down Payment Assistance Program, which has been responsible for providing more than 14,000 grants totaling more than $61 million. Associated with this down payment assistance was more than $3.3 billion in first mortgage loans for people purchasing newly constructed homes throughout California. The program currently has approximately $700,000 left in funds, and CalHFA anticipates the final funds being expended by the end of April.
CalHFA will continue to accept applications for SFF until funds are exhausted. Applications will be accepted on a first come, first served basis.
Thursday, March 15, 2012
Calif. median home price: January 2012: $268,280 (Source: C.A.R.)
Calif. highest median home price by region/county January 2012: Marin, $694,440 (Source: C.A.R.)
Calif. lowest median home price by region/county January 2012: Tehama, $110,000 (Source: C.A.R.)
Calif. Pending Home Sales Index: January 2012: 102.4, an increase from the revised 93.1 recorded in January 2011
Calif. Traditional Housing Affordability Index: Fourth quarter 2011: 55 percent (Source: C.A.R.)
Mortgage rates: Week ending 3/8/2012 30-yr. fixed: 3.88% fees/points: 0.8% 15-yr. fixed: 3.13 fees/points: 0.8% 1-yr. adjustable: 2.73% Fees/points: 0.6% (Source: Freddie Mac)
Monday, March 5, 2012
The Los Angeles Times
Among new Internet-based real estate ventures to pop up in recent months is one that enables house hunters to simultaneously search for just about every lifestyle criteria imaginable. Another protects would-be tenants from unwittingly renting from a struggling owner in the midst of a foreclosure.
Read the full story
http://www.latimes.com/business/realestate/la-fi-lew-20120226,0,7465346.story
