Articles Tagged with ''Los Angeles''

'Do no harm' on conforming loan limits

Unless Congress acts, we will soon embark on an ill-timed test of the strength of the nation’s housing market and private mortgage finance system. On Oct. 1, government support for mortgage lending is scheduled to drop in dozens of metropolitan areas containing more than two-thirds of the U.S. population. Although our research indicates this change will affect only a very small segment of the overall housing market and is consistent with longer-term policy goals, efforts to revive the economy would be better served by maintaining current support for mortgage lending.
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REOTrans Launches Online Certification Program

Los Angeles-based foreclosure listing service REOTrans launched an online certification program for real estate agents that sell real estate owned (REO) properties. Agents and brokers who take the online courses can display a “certified agent” logo on their marketing materials. The certification program is a marketing tool for agents to stand out in the crowd of real estate players, REOTrans CEO Chris Saitta said.
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SoCal Sales Up, Prices Still Down; MDA DataQuick

Southern California posted the best July sales volume in three years and the fastest pace of any month since December 2006. But as volume saw double-digit increases in all but one of the six Southern California counties, median prices saw double-digit declines from 2008 levels in the same number of counties. A total of 24,104 new and resale houses and condos closed escrow in San Diego, Orange, Los Angeles, Ventura, Riverside and San Bernardino counties in July, MDA DataQuick reported, an increase of 18.6% from July 2008.
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ACORN Targets HAMP Noncompliance

[Update: Date for protests added] The Association of Community Organizations for Reform Now (ACORN) announced it’s targeting servicers it says aren’t complying with the guidelines of the Making Home Affordable Modification Program (HAMP) in its latest protest campaign.
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Home Prices Fall 19% Toward a 2010 Bottom

Single-family home prices dropped 19% over the 12-month period ending in March 2009, but the bottom is in sight, according to an analysis of home price trends by Fiserv [stock FISV][/stock]. Researchers studied more than 375 US markets based on the Fiserv Case-Shiller Home Price Index and data from the Federal Housing Finance Agency (FHFA).
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Higher-End Housing Moves Buyers in SoCal, Bay Area

Improvements in mortgage availability and the belief that prices have hit rock bottom has buyers moving in the Southern California and the San Diego Bay area, according to La Jolla-based data analyzer MDA DataQuick. In So Cal, buyers are responding to price cuts on mid- to high-end homes and the availability of credit for pricier homes. There were a 23,262 total new and existing homes and condo sales completed in San Diego, Orange, Los Angeles, Ventura, Riverside and San Bernardino counties in June, up 12% from May.
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Real Estate Execs Form New Investment Firm

A trio of Los Angeles commercial real estate executives formed a new firm for real estate-based investments. Led by principal Leslie Lundin, LBG Realty Advisors plans to raise $250m in equity by the end of the year for a fund that will be invested from 2010 to 2013. The firm’s investments will focus on acquiring debt backed by distressed retail, multifamily, office and industrial assets, as well as purchasing retail properties and making joint venture investments in the western United States.
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