4 year high for home prices, the investor effect, short sales and much more. Here are your real estate headlines you may have missed this week:
California home prices near 4-year high (via Orange County Register)
California home sale prices came close to a 4-year high in July, with the pace of sales year-over-year growing for the fourth month in a row, the CALIFORNIA ASSOCIATION OF REALTORS® reported. Read Full Story
FHFA steering toward bulk sales (via The Press Enterprise)
Real estate professionals are accusing the Federal Housing Finance Administration and Fannie Mae of moving in a “secretive” way to test a bulk-buying house program in the Inland Empire that will squeeze out consumers, shutter viable businesses, and harm an already-fragile housing market recovery. Read Full Story
Will short sales hit home prices? (via The Wall Street Journal)
On Tuesday, the Federal Housing Finance Agency announced new guidelines that are supposed to make it easier for homeowners to sell their home in a short sale. Read Full Story
Are investors taking over your neighborhood? (via U-T San Diego)
Investors have the cash and the manpower working in their favor. They’re buying up parts of neighborhoods in hopes of turning quick profits, and in their own words, moving a once-stagnant market forward. For first-time home buyers, they’re seen as potential hurdles. Read Full Story
Home sales climb 2.3 percent in July (via CNNMoney)
Home sales in July rose 2.3 percent from June, and 10.4 percent from a year earlier, to an annual rate of 4.47 million, according to a report from the NATIONAL ASSOCIATION OF REALTORS®. Read Full Story
No more “drive-by” appraisals – on some loans (via The Wall Street Journal)
Rules proposed by federal regulators would ban the practice of “drive-by” appraisals and require a physical inspection of the home. But the rules, required by the Dodd-Frank financial overhaul of 2010, would only apply to a small slice of the mortgage market – loans defined by regulators as “high risk.” Read Full Story
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About Daniel Di Matteo
THE REAL ESTATE BUSINESS HAS LESS TO DO ABOUT SELLING PROPERTIES AND EVERYTHING TO DO ABOUT HELPING PEOPLE.
