Mount Laurel, N.J.-based Freedom Mortgage Corporation purchased the assets of BluFi Lending, a direct mortgage lender with branches in California and Nevada, falling in line with Freedom Mortgage’s strategy to expand its retail lending footprint in the Western U.S.
“We continue to expect home price appreciation to moderate from the torrid pace of mid-2012-13, supported by improving employment and growth prospects,” said analysts from Morgan Stanley. “We leave our 2014 projections for new home sales (450-500 thousand units) and home prices (up 5-7% for the year) unchanged.”
It's been headline news this summer that some of the nation's fastest-recovering markets have seen substantial price increases -- markets in California, Arizona and Nevada has seen double-digit gains in 2013 as housing shortages mixed with demand from retail buyers coaxed by low mortgage rates, as well as historically strong investor interest in purchases.
People are listening to real estate economists today in a way that anyone who covered the industry a decade or more ago would not recognize. Smoke is one of the members of this new wave of real estate economists. In fact, Smoke is actually the newest one on the block. The upstart economists at places like Trulia and Zillow are still new, Smoke is just the latest player to join the game..