Items Tagged with 'California housing market'

ARTICLES

  • Zillow to begin buying houses in California, North Carolina

    Expands direct buyer business to Riverside, California and Charlotte, North Carolina
    It seems to be all about expansion these days for Zillow. The online real estate giant recently got into the mortgage business with its acquisition of Mortgage Lenders of America. Zillow has also been growing its direct buyer business, Zillow Offers, wherein the company is buying houses directly from sellers then lists the home for sale. And the company will soon be buying houses in California and North Carolina.
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  • California voters decisively defeat rent control effort

    Nearly two-thirds of voters cast ballots against Costa-Hawkins repeal
    In addition to going to the polls Tuesday and picking a new governor, lieutenant governor, a host of new members of the House of Representatives, and re-electing one of their two senators, California voters also soundly defeated a push to increase rent control in the state. While the measure’s supporters surely view the defeat as a setback, an analysis from UBS argues that the proposition losing is actually the best thing for all involved.
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  • Fannie Mae identifies new fake employers being used on mortgages

    Five California companies appear to not actually exist
    The number of fake employers showing up on borrowers’ mortgages is growing. Earlier this year, Fannie Mae issued a warning to lenders after identifying more than 30 companies that appeared to be fake that were showing up on borrowers’ mortgage documentation as their place of employment. Now, Fannie Mae is issuing another warning, telling lenders that it has found five more potentially fake employers.
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  • California man admits to running $24 million real estate Ponzi scheme

    Used investors’ money to pay personal expenses, fund gambling activities
    A California man admitted in court this week that he ran a massive real estate Ponzi scheme and defrauded investors out of $24 million by falsely promising that he planned to use their money to purchase residential properties and either manage the properties for rental income or flip the properties and resell them for a profit.
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  • Real estate startup Reali will help buy or sell your California home for only $950

    Rolls out flat fee for homes priced under $250,000
    Reali, a tech-focused real estate startup that charges flat fees for both homebuyers and sellers, is now offering one of the nation’s smallest transaction fees in one of the nation’s most expensive real estate markets. Reali announced this week that it is rolling out a new program that will help certain California buyers and sellers buy or sell their home for only $950.
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  • California home sales start 2017 on a strong note

    Median sales price drops below $500,000 for first time since March 2016
    While winter usually means a decline in home sales, California just saw its first increase in home sales between December and January since 2012, a sign that the Golden State could be in for a strong housing year.
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  • California regulator reveals what Ocwen did wrong

    Auditor found "hundreds" of violations of law
    Ocwen Financial announced late last week that it successfully extricated itself from the mortgage servicing restrictions placed on it by the California Department of Business Oversight. The final settlement total included $198 million in debt forgiveness. So why was the settlement so big? Turns out that Ocwen’s operations weren’t exactly squeaky clean for the last few years.
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  • California Realtors getting nervous about housing market future

    CAR's 2016 housing predictions came true, now what?
    Now more than half a year into 2016, and the California Association of Realtors’ predictions that a shortage of available inventory and continued high costs would limit improvements in 2016 are coming true. And looking at the latest CAR report, it appears to be getting to Realtors.
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  • Is California's housing boom finally coming to an end?

    CAR: Affordability and inventory tightens
    Not too long ago, California’s housing market reached a nearly four-year high, but that momentum came to a halt in July when sales fell from the previous year for first time in 18 months. Now, according to the August report from the California Association of Realtors, the market is likely to stay down.
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  • California home sales come tumbling back down to earth

    Home values remain strong
    Just one month after posting a nearly four-year high, home sales in California took a step backwards in the month of July, with year-to-date sales falling from the previous year for first time in 18 months, according to a new report from the California Association of Realtors.
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