Headlines in Real Estate for week ending October 6th 2012

Real estate market correction, how wrong are sites like Trulia & Zillow, another low for mortgage rates & refinances go through the roof. Here are the headlines in real estate you may have missed this week:

When will the housing market be “corrected?” (via San Diego Union Tribune)
The housing recovery in California is expected to continue through to 2013, but the market won’t be “corrected” until as far off as 2017, according to the California Housing Market Forecast released by the CALIFORNIA ASSOCIATION OF REALTORS. Read Full Story

Greatest real estate bubble In modern history not done bursting (via Forbes)
Never in history have so many middle class households been able to borrow so much against real estate at such low mortgage rates. Read Full Story

On big real estate sites, study finds gaps in listings (via The New York Times)
A study underwritten by Redfin released on Wednesday seeks to compare the comprehensiveness and accuracy of real estate listings on five sites, Zillow, Trulia, Redfin and the sites of two regional real estate brokerage firms, Windermere and Long & Foster. Read Full Story

Recovery finds “footing” as foreclosures fall (via DSNews)
Completed foreclosures continued their progressive decline, and foreclosure inventory fell to its lowest level since April 2010, CoreLogic reported Thursday. Read Full Story

Mortgage rates hit record low again (via CNNMoney)
The average 30-year fixed-rate mortgage fell to an all-time low of 3.36%, according to a weekly survey by mortgage finance backer Freddie Mac. The rate dropped from 3.40% the previous week. Read Full Story

Mortgage refinances surge to highest level since April 2009 (via Mercury News)
A Mortgage Bankers Association index of refinance applications jumped 20 percent last week compared with the week before. Applications to purchase homes were up by 4 percent, the trade group said in a weekly survey released Wednesday. Read Full Story

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