This week in real estate: Home prices rise while number of homes sold falls, real estate investors find favor in flipping houses & the housing recovery moving faster than expected. Here are the headlines in real estate you may have missed this week:
California home prices rise in September; sales fall (via Mercury News)
A continued shortage of available homes for sale lowered California home sales in September, while the median price reached the highest level in more than four years, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported this week. Read Full Story
Housing industry recovering faster than many economists expected (via The Los Angeles Times)
Housing is snapping back faster than many economists had expected, with home builders stepping up production of new homes nationally and fresh foreclosures in California falling to their lowest level since the early days of the bust. Read Full Story
Flipping houses is once again a booming business (via The Washington Post)
House flipping earned a bad reputation during the housing boom thanks to speculators who bought and sold millions of homes in search of easy profits. But the practice is gaining popularity again as the nation’s real estate market shows signs of life. Read Full Story
Banks accused of defrauding homeowners by rigging Libor (via CNNMoney)
A class action complaint filed earlier this month in New York federal court claims borrowers with adjustable-rate mortgages based on the London Interbank Offered Rate, or Libor, paid more than they rightfully should have due to the rate’s manipulation by the global banks involved in setting it. 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.
