Tag: the reo mentor

1.Shortage of low-income housing pushes tenants into dangerous situations
“Dozens of people shared only three showers in the building that Patricia McDowell called home for the last 2 1/2 years. Roaches skittered across the floor, she said, and lights went out and stayed out. In recent months, McDowell said she had to run an extension cord to another room to keep electricity going.”

2.Fannie and Freddie’s steep fees hurting home buyers, critics say
“WASHINGTON — When you’re raking in tens of billions of dollars in profits by helping credit-elite borrowers buy homes, couldn’t you lighten up on fees a little for everyday folks who’d also like to buy?”

3.U.S. Stocks Decline as Tech, Consumer Shares Extend Slide
“U.S. stocks fell, after the biggest drop for the Nasdaq 100 Index in two years, as technology and consumer companies extended last week’s slide before the start of corporate earnings season. “

4.The Internet is for sellers and real estate agents, not buyers
“Last week one of my clients asked to see a property she’d found on Zillow. I looked it up, and it was listed as a for-sale-by-owner. The details stated that the owner would work with real estate agents.”

5.US Tax Court ruling could save real estate trusts millions
“As we’ve discussed many times in this column, anyone who can qualify as a “real estate professional” for federal tax purposes enjoys some unique tax benefits.”

6.The Real Deal / Tough year for beach-area values
“2013 was a tough year for some beach-area properties, due to a double whammy that even the most experienced agents did not see coming.”

7.4 reasons why rising mortgage rates are good
“There’s a silver lining to rising mortgage rates, which have crept up over the past year. It’s now easier to get a mortgage — and it won’t likely take as long to close the loan, either. “

8.Housing pain could halt stocks’ gain
“The S&P 500’s SPX -1.12%   outsized gain of 30%-plus last year certainly can’t be repeated. And if the first quarter is any indication, not many investors will make much money by owning the benchmark index. “

9.US home market: Few buyers and not enough sellers
“WASHINGTON — Entering the 2014 spring buying season, the U.S. housing market faces an unusual dilemma: Too few people are selling homes. Yet too few buyers can afford the homes that are for sale.”

10.Home values hit stable patch in capital region
“Home values in Sacramento have hit a stable patch, leveling out at prices that make sense given area incomes, rents and other basic economic factors, several experts said last week”

11.Fannie Mae Releases March 2014 National Housing Survey Results
“WASHINGTON, DC – Recent month-to-month volatility in the housing market has softened the ongoing recovery. However, the majority of the Fannie Mae National Housing Survey indicators on consumer attitudes have continued to move in a positive direction during the past year, which may portend a pickup in home buying and selling activity this spring.”

12.How to List and Sell Real Estate
“It’s not too often you get to interview one of the First Ladies of Real Estate, so I was thrilled to connect with none other than industry pioneer Danielle Kennedy last week to congratulate her on the 30th Anniversary of one of the most timeless real estate books written, How to List and Sell Real Estate. As always, she’s delightful, strong, passionate and right to the point. I hope you’ll enjoy her words of wisdom! “

13.Fannie Survey Hints at Warmer Spring for Housing
“Fannie Mae sees results from its most recent National Housing Survey (NHS) as possibly portending a pickup in home buying and selling activity this spring.  Results of the survey show that despite recent month-to-month volatility in housing markets and a softening of the recovery, many consumer attitudes have continued to move in a positive direction”

14.Despite Record Low Mortgage Originations, “Significant Opportunity to Grow”
“Black Knight Financial Services said that mortgage originations at the end of February were at the lowest levels in at least 14 years, as far back as the company has kept records.  Still, the company’s Senior Vice President of Data and Analytics said real estate sales have remained relatively steady, thanks to the number of cash transactions.  “

TonyAlvarez.com

1.Mortgage rates climb to 4.41 percent
“The Mortgage Bankers Association (MBA) publishes the results of a weekly applications survey that covers roughly 50 percent of all residential mortgage originations and tracks the average interest rate for 30 year and 15 year fixed rate mortgages as well as the volume of both purchase and refinance applications. “

2.U.S. economy adds a solid 192,000 jobs in March
“WASHINGTON — U.S. employers added jobs at a solid pace in March and hired more in January and February than previously thought. Friday’s government report sent a reassuring signal that the economy withstood a harsh winter that had slowed growth.”

3.U.S. Stocks Drop From Record as Tech Shares Resume Slide
“U.S. stocks fell the most in three weeks, as technology and consumer shares sank, after benchmark indexes had climbed to records on a government report showing employers added to payrolls last month. “

4.No real estate bubble here: home prices to level off
“Home prices increased 12.2% from February 2013 to February 2014, marking the 24th consecutive month of year-over-year growth, according to the most recent CoreLogic Home Price Index Report. That trend is expected to continue, with a 10.5% year-over-year increase projected for March. There was also a slight month-to-month increase of 0.8% from January to February. “

5.Spring homebuyers facing sticker shock
“More potential buyers are out trolling the nation’s neighborhoods for their dream homes. Unfortunately, they are finding little to look at and, even worse, they are finding higher prices than they expected. “

6.California gasoline prices increase for seventh straight week
“California gasoline prices have increased for the seventh week in a row in most areas but the pace has slowed for the last couple of weeks, according to price surveys Friday.”

7.Rents expected to rise for a fifth consecutive year as demand surges
“These are good times for U.S. landlords. For many tenants, not so much. “

8.Most U.S. Homes Now Affordable for Average Buyers
“The majority of homes nationwide are more affordable now than they were in the years leading up to the start of the housing bubble, with homebuyers currently spending a smaller share of their incomes on a mortgage than they have historically. Nationwide, roughly two-thirds (66.4 percent) of homes for sale on Zillow are considered affordable, and in many metro areas, the majority of homes are more affordable now than they have been historically for typical buyers making the area’s median income, according to new research from Zillow.”

9.WeChat and Weibo will help you land Chinese clients and get them to the closing table
“Linda Lee, a San Diego-based broker with Keller Williams Realty Inc., says that if you want to land Chinese clients, you’re not going to find them on YouTube and Facebook. Lee recommends using WeChat and Weibo to reach Chinese clients instead. Be ready to serve Chinese clients when they’re most likely to be in the country — Chinese New Year and summer break, for example — and be prepared to hire a translator if necessary to help close deals.”

10.Best Rental Returns Are Found In These Markets
“In many areas housing prices are rising and that has some investors thinking about if and where they should buy their next rental.”

TonyAlvarez.com

1.U.S. Stocks Fluctuate Near Record on Jobless Claims Data
“U.S. stocks fluctuated, with benchmark indexes trading near records, as data on jobless claims and services missed estimates while the European Central Bank indicated it would take action to head off deflation. “

2.Houses taking about two months to sell
“The following update on local real estate information for Fullerton is based on Multiple Listing Service data as of March 27. “

3.HOME PRICES: Inland home prices doing double-time
“Real estate in the Inland region is still having a field day when it comes to price appreciation, give the new CoreLogic chart predicting price growth.”

4.REAL ESTATE: One reason for Inland sprawl: Price
“Smart Growth America has just released a new Measuring Sprawl 2014 report and my hunch is many real estate watchers aren’t surprised to see Inland Southern California on the Top 10 list of large metro areas in the nation with urban sprawl.”

5.Money Average US 30-Year Mortgage Rate Rises to 4.41 Pct
“Average U.S. rates on fixed mortgages rose slightly this week but remained near historically low levels.”

6.5 Things Your Real Estate Agent Won’t Tell You (VIDEO)
“Buying a home can be a wonderful investment and, not to mention, an exciting new life step. But between shopping for mortgages, scouring listing services and visiting one open house after another, it’s certainly not a simple, one-stop-shop kind of process. And (as if that wasn’t enough to deal with) there’s also the small little detail of coping with real estate agents. “

7.Investors scale back home purchases – who will fill the gap?
“Investors are scaling back home buying, according to data released Wednesday, and there’s concern that the gap in purchases won’t be filled as prospective first-time buyers struggle with a choppy jobs market and high barriers to obtaining a mortgage.”

8.Real estate investment clubs for fun and profit, with luck
“Kimberly and Edward Rushing’s fledgling real estate investment venture got off to a rocky start”

9.Inventory slowly creeps back into the California housing market: Homes for sale in Los Angeles up nearly 18 percent year-over-year and price gains stall. Cash sales still a big part of market.
“Inventory is finally starting to show up in the California housing market.  The main motivator of this growing inventory is the delusional prices being asked by sellers are no longer generating massive amounts of sales from house lusting buyers.”

10.Home Sellers: What a Great Agent Can Do For You
“You already know the smart way to sell your home is through a real estate professional, but you may not realize how much your agent really does for you.”

11.Home Prices Will Keep Rising, but Level-Off Soon
“Home prices continue to increase by double digit percentages on a year-over-year basis CoreLogic said today.  The company’s Home Price Index (HPI) for February, an index that includes distressed sales, was up 12.2 percent compared to February 2013.”

TonyAlvarez.com

1.After 8 years, the real estate market is finally looking normal again
“The beginning of the last decade saw an unprecedented spike in real estate prices, which culminated in the bursting of the real estate bubble in 2006 and a financial crisis to boot. Then came the crash, and prices fell precipitously, with the Case-Shiller Housing Index losing 33% from its 2006 peak to the 2012 trough”

2.Stocks: S&P500 hits all-time high
“The S&P 500, which gained 1.5% in the first three months of the year, has just passed its all-time high of 1,883.97 by going to 1,884.64 shortly after 10am. The Dow Jones industrial average and the Nasdaq were also higher in early trading Tuesday. “

3.MBA Releases 2013 Commercial/Multifamily Mortgage Origination Volume Rankings
“According to a set of commercial/multifamily real estate finance league tables prepared by the Mortgage Bankers Association (MBA), Wells Fargo; J.P. Morgan Chase & Company; Bank of America Merrill Lynch; Eastdil Secured; KeyBank; PNC Real Estate; HFF, L.P.; Meridian Capital Group, LLC; CBRE Capital Markets; and Prudential Mortgage Capital Company were the top commercial/multifamily mortgage originators in 2013. “

4.U.S. Stocks Rise on Economy Optimism on Factory Report
“U.S. stocks rose, with the Standard & Poor’s 500 Index rising to an intraday record, as consumer and technology shares rallied and an increase in a manufacturing index boosted optimism the economy withstood severe winter weather. “

5.US Home Prices Rose in Feb. Despite Weaker Sales
“U.S. home prices rose in February from a year earlier at a solid pace, suggesting that a tight supply of available homes is boosting prices despite slowing sales.”

6.Commercial property transaction volume could hit 10-year high by 2016
“Commercial property transaction volume will reach $430 billion by 2016, exceeding the volume of 2006, according to a new U.S. real estate forecast based on a survey of 39 of the industry’s leading economists and analysts.”

7.Ten hidden costs of commercial real estate — part 1
“Although all known circumstances of a property need to be disclosed to a buyer by the seller as stated in a purchase agreement, issues creep up over the years of ownership. Laws change, improvements are made to the property, tenant’s needs change and some issues may not had been fully researched at the time of the purchase.”

8.10 hidden costs of commercial real estate — part 2
“In my previous article I discussed the first three hidden costs of commercial real estate: city business license fee, sewer fees and environmental cleanup fees. In this second article of a three-part series I’m highlighting other costs: capital expenditures, commissions and readying the space, vacancies, prepayment penalties and building code upgrades.”

9.Home Prices Rise in February Despite Weaker Sales
“WASHINGTON — U.S. home prices rose in February from a year earlier at a solid pace, suggesting that a tight supply of available homes is boosting prices despite slowing sales.”

10.Fannie Mae, Freddie Mac: Were They Ever Broken?
“The government has collected more than $20 billion in the past year from lenders who sold allegedly-subpar mortgages and related securities to Fannie  Mae and Freddie Mac, with more settlements likely to come.”

11.When It Comes To Real Estate, Whose Target Are You?
“Targets” are specific groups of consumers with key common characteristics which lead to common, and often predictable, spending potential and buying habits. “Targeting” is the main push in marketing, advertising, and promotion. Businesses, entrepreneurs, and professionals are intent on spending their dollars to gain the attention of consumers who are the best match for specific products and services, and real estate is no different.”

12.Home Prices Will Keep Rising, but Level-Off Soon
“Home prices continue to increase by double digit percentages on a year-over-year basis CoreLogic said today.  The company’s Home Price Index (HPI) for February, an index that includes distressed sales, was up 12.2 percent compared to February 2013.”

TonyAlvarez.com

1.Stocks soar on last day of choppy quarter
“The Dow rose more than 120 points, while the S&P 500 is now within spitting distance of its all-time high. The Nasdaq jumped 1%. “

2.Stocks rise sharply as quarter ends
“Stocks rose broadly in late-morning trading Monday as the market headed for its fifth straight quarterly gain. Dow member Johnson & Johnson rose on news that it was selling a diagnostics business. “

3.4 reasons the Fed won’t raise interest rates anytime soon
“Federal Reserve Chair Janet Yellen said early Monday that the economy and the job market are still ailing and that they will need “extraordinary” assistance from the central bank in the form of low interest rates “for some time.”

4.Home Sales in U.S. Poised to Surge With Spring: Mortgages
“Donna Cicerone and her husband Paul want to put their three-bedroom home in Milton, Massachusetts, on the market. First, they have to find a house to buy. “

5.10 things your real-estate agent won’t tell you; What buyers and sellers should know about that 6% commission
“U.S. home prices have rebounded to mid-2004 levels, according to the latest S&P/Case-Shiller home price survey, and though monthly gains are slowing, this spring — traditionally the prime home-buying season — looks to be a sellers’ market. “

6.Real estate’s red-hot category: Apartments
“A lull in the single-family housing recovery this winter made for a surprise comeback in a sector thought to be overbuilt and overblown: multifamily real estate investment trusts (REITs). “

7.In California buying is about timing and speculation: Since 2000 the California housing market has experienced more dramatic booms and busts courtesy of speculation, investors, and new financial products.
“California’s housing market is a boom and bust machine tuned to attract the masses.  Timing matters in a state where speculation is rampant.  Since 2005 California home owners have received over 2,000,000+ foreclosure notices.  Of course this goes into the graveyard of foreclosure information that we seem to forget each time the market booms. “

8.Housing Prices: Up Or Down? How To Understand Today’s Case-Shiller Data
“Today S&P/Case-Shiller released its monthly housing data report, the leading measure of home prices across the nation. Immediately, reporters posted dozens of stories about January’s numbers–with oddly contradictory headlines.”

9.Is American Real Estate Out Of The Woods?
“For some time virtually all markers have pointed to an improving US real estate picture and yet there remains an undercurrent of unease. So are we out of the financial woods?”

10.The Five Biggest Turn-offs For Homebuyers
“A lot of sellers don’t listen to their real estate agents, so we’ll tell you what your agent wants to say, but can’t say to you and this is it – your agent can’t get you the price you want unless your home is in pristine move-in condition.”

TonyAlvarez.com

1.TGIF as stocks up ahead of weekend
“TGIF seems to be in full swing on Wall Street. Investors looked as if they had found some inspiration heading into the weekend, a positive sign for stocks as the end of the first quarter draws near.”

2.Institutional investors cool on housing market, Could this be an opportunity for individual home buyers?
“In February, 5.9% of all U.S. property sales were purchased by institutional investors (defined as an individuals or groups that have purchased at least 10 properties in a calendar year) down from 7.2% of sales the year before, according to data from real-estate data firm RealtyTrac.”

3.Real Estate Stock Investors Shouldn’t Ignore The Smaller Neighborhoods
“After a spectacular five-year run, global real estate stocks look headed for a period of more normal returns. We think winning in this space will require a more  discriminating eye—and venturing into the often neglected nooks and crannies of the smaller-cap real estate world.”

4.Commercial Real Estate Forecast 2014-2015
“Non-residential real estate values should rise at a modest-to-moderate pace in the coming two years, with stronger operating earnings partially offset by rising interest rates.”

5.U.S. stocks rise; Dow sees triple digit gain Consumer spending, income rise in February
“Consumer spending rose in February at the fastest rate since November as Americans spent more on health care and utilities, but in a negative sign, purchases of big-ticket items fell for the third straight month. Personal income also ticked up in February.”

6.US consumer spending up modest 0.3 percent
” Americans barely increased their spending in February following a weak January performance, strong evidence that the severe winter will hold back the economy in the first quarter.”

7.Real Estate Marketing Strategies: How to Double or Triple Your Income in 2014
“What would be the benefits to you of doubling or tripling your income in 2014?”

8.10 Home Projects that Can Increase Value
“Spring means different things to different people: outdoor activities, gardening, spring break. But for homeowners, it often means it’s time to start checking items off your home projects to-do list. From trimming trees to cleaning gutters to washing windows, spring is the time to do a tune-up on your home and clean up after Old Man Winter.”

TonyAlvarez.com

1.February Pending Home Sales Continue Slide
“Pending home sales declined for the eighth straight month in February, according to the National Association of Realtors®. Modest increases in the Midwest and West were offset by declines in the Northeast and South; all regions are below a year ago.”

2.WRAPUP 2-U.S. economy shows some muscle, housing still lagging
“The U.S. economy grew a bit faster than previously estimated in the fourth quarter and new claims for jobless aid dropped to a near four-month low last week, suggesting the economy has plenty of momentum to break out of its winter chill.”

3.U.S. economy shows some muscle, housing still lagging
“The U.S. economy grew a bit faster than previously estimated in the fourth quarter and new claims for jobless aid dropped to a near four-month low last week, suggesting the economy has plenty of momentum to break out of its winter chill.”

4.Pending U.S. home sales drop in February, marking 8th straight decline
“In the latest sign of a continuing slowdown in the housing market, a key predictor of home-sale volume fell for the eighth straight month in February, though the outlook was brighter in the West.”

5.Why did residential sales decline for fourth month straight?
“Residential properties sold at an estimated annual pace of 5,083,241 in February, a 0.2% decline from January but up 7% from February 2013, according to the latest report from RealtyTrac.”

6.Pending home sales down 10.5% from February 2013
“Pending home sales fell for the eighth straight month, down 0.8% from the downwardly revised January report and down 10.5% from February 2013, according to the index from the National Association of Realtors.”

7.U.S. Stocks Decline as Bank, Technology Shares Lead Drop
“Banks and technology companies led U.S. stocks lower for the fourth time in five days, as a midmorning recovery fizzled and investors resumed a rotation out of the bull market’s biggest winners. “

8.Average US 30-Year Mortgage Rate Rises to 4.40 Pct
“Average U.S. rates on fixed mortgages rose this week in the wake of comments by Federal Reserve Chairman Janet Yellen suggesting that the Fed could start raising short-term interest rates by mid-2015.”

9.Contracts to Buy US Homes Fell in February
“The number of Americans who signed contracts to buy homes fell for the eighth straight month in February, a sign that real estate sales will likely slow over the next few months.”

10.Real Estate Stock Investors Shouldn’t Ignore The Smaller Neighborhoods
“After a spectacular five-year run, global real estate stocks look headed for a period of more normal returns. We think winning in this space will require a more  discriminating eye—and venturing into the often neglected nooks and crannies of the smaller-cap real estate world.”

11.Real Estate Crowdfunding Startup Realty Mogul Raises $9M
“Realty Mogul, a site that allows accredited investors to collectively back real estate projects, is announcing that it has raised a $9 million Series A led by Canaan Partners.”

12.U.S. pending home sales fall to lowest level since October 2011
“The number of contracts to buy previously-owned U.S. homes fell in February to the lowest level in more than two years, a sign the housing sector has yet to shake off the impact of higher interest rates and a harsh winter.”

13.U.S. residential-property sales drop 0.2% in Feb
“U.S. residential-property sales slid 0.2% in February from the prior month, the fourth consecutive month sales activity eased sequentially, according to market researcher RealtyTrac. “

14.How the sharing economy is changing home affordability
“As implied by the name, the sharing economy works when some people who own things are happy for others to make use of them –  for a fee”

15.Pending Home Sales Weaker Again, but May be Stabilizing
“The National Association of Realtors® (NAR) Pending Home Sales Index (PHSI) for February added more confirmation of a slowing home housing market.  The PHSI, released this morning, showed an eighth straight month of declining contract signings. “

TonyAlvarez.com

1.7 Markets Where Median List Prices Are Soaring
“Some housing markets are seeing jumps of 20 percent or more in median list prices. Realtor.com® recently highlighted some of the hottest markets to buy, based on the largest year-over-year median list price gains from February 2013-14. These are the cities that top the list”

2.O.C., L.A. and Inland Empire homes are overpriced, Trulia says
“Southern California is home to some of the most overpriced housing markets in the country. And that’s taking the wind out of the recovery.”

3.ECONOMY: Wages still stagnating, and low in Inland area
“It’s gotten a lot easier to find a job in Inland Southern California in the last six months, but workers are probably not getting significantly wealthier in the process, according to a federal report released last week.”

4.What to do if your home-equity line is about to end, Worried about your monthly bill shooting higher? You have options.
“If you’re worried that you won’t be able to make the higher payments, then don’t sit idly by. Talk to your bank and see if there’s anything they can do to change the terms of your home-equity line. “

5.3 reasons real estate agents are worth their 6% cut
“Even in this age of the Internet, real estate agents are still a “very integral” part of buying and selling homes, Zillow CEO Spencer Rascoff told CNBC’s “Squawk Box” on Wednesday. “

6.Gold slides back to $1,300 as US data lifts dollar
“Gold fell nearly 1 percent to a five-week low on Wednesday as the dollar firmed, equity markets strengthened and the U.S. economy showed signs of recovery, while support from physical buying also was lacking. “

7.US stocks decline after durable goods; technology shares hit
“U.S. stocks fell on Wednesday, with benchmark indexes struggling to extend gains into a second day, after data showed orders for longer-lasting products gained more than expected even as corporate spending on equipment declined.”

8.What happened to the traditional home buyer? California has the highest percentage of young adults living at home with parents. Existing home sales collapse.
“Existing home sales continue to operate in an anemic range.  The latest existing home sales figures show that sales volume is back to where it was in July of 2012.”

9.U.S. Sales of New Homes Up in January
” U.S. sales of new homes rebounded in January to the fastest pace in more than five years, offering hopes that housing could be regaining momentum after a slowdown last year caused by rising interest rates.”

10.Why The Mortgage Marketplace Is Never Normal
“The Urban Institute has come out with a new study which suggests that as many as 1.2 million people per year are not getting mortgages because of tight lending standards. It’s an interesting and provocative report, one which is getting much attention, but is it true?  Are tight lending standards responsible for 1.2 million missing loans?”

11.10 Ways to Not Get Screwed By Your Contractor
“You’ve saved your pennies, you’ve pinned all the things you love to Pinterest and now it’s finally time to fix up your kitchen or redo your bathroom or build that deck. Now comes the easy part: finding an excellent contractor and getting started. Right?”

12.5 Things You Can Do to Control Your Market
“Like all financial markets, the real estate market has a history of going up and down, and up and down. It’s always been that way, and it’s always going to be that way, isn’t it?”

13.U.S. Single-Family Home Investors Form Trade Group
“The largest landlords of single-family homes, including Blackstone Group LP (BX), have formed an industry trade group at a time their impact on housing and finance faces scrutiny. “

14.Can You Still Buy a Home With No Down Payment?
“Are you considering buying a home this year? Most would have you believe that you need at least a 3.5% down payment to get a mortgage. But there are actually a few ways you can get a home with 100% financing.”

TonyAlvarez.com

1.Bubble Watch: Local Worries, National Calm
“Although national home prices rose significantly in the past two years, they’re still 5% undervalued compared with long-term fundamentals. Home prices today look overvalued in 19 of the 100 largest metros, including 8 of the 11 large California metros.”

2.More Americans are renting: why the cost is so high (+video)
“For most Americans, there seem to be two types of rental housing in the US these days: pricey and unaffordable.”

3.Rahm Emanuel: Given a choice, Americans want cities over burbs
“The suburbs are losing out to cities when it comes to where people want to live, according to Chicago Mayor Rahm Emanuel.”

4.U.S. home sales fall, but consumer confidence hits six-year high
“Sales of new U.S. single-family homes hit a five-month low in February, but a surge in consumer confidence to a six-year high in March suggested the economy was regaining momentum after being held back by severe weather.”

5.New-home sales fell across most of U.S. in February
“Sales of recently built homes fell back in February, as harsh weather and high costs held back buyers.”

6.The Pro’s and Con’s Of Borrowing From Your 401(K) To Finance a Home Purchase
“According to the National Association of REALTORS® 2013 Profile of Home Buyer and Sellers, 8% of first-time buyers borrowed from their 401(k) retirement accounts as a source of downpayment money. It’s a good bet that a significant number of potential first-time buyers, as well as others, are not acquainted with how this works. It’s also a good bet that, among those with the ability to use 401(k) funds, many are not familiar with the pros and cons of doing so. “

7.MBS MID-DAY: Economic Data Fails to Inspire Much Market Movement
“A good thing to keep in mind about any data-based conclusion in financial markets is that details matter.  This is true both in terms of the reference to market movement in the headline as well as several of the day’s economic releases.”

8.New Home Sales Turn Negative Year-Over-Year, First Time Since 2011
“After rising by a revised 3.2 percent January, New Home Sales fell 3.3 percent in February according to data released today by The Census Bureau and the Department of Housing and Urban Development.  The annualized sales pace of 440k homes is the lowest since September 2013.”

TonyAlvarez.com

1.Wealthy Chinese home buyers boost suburban L.A. housing markets
“The overflow from China’s economic high tide is transforming the housing markets of suburban Los Angeles”

2.Carrington ups ante on Wells Fargo by lowering FICO standard
“Carrington Mortgage Services lowered its minimum FICO score to 550 and expanded its guidelines on a number of FHA, VA and USDA loan programs in order to better focus on underserved borrowers, typically those in the sub-640 FICO score range.”

3.Monday Morning Cup of Coffee: Foreclosures down 500K from last year
“Monday Morning Cup of Coffee takes a look at news crossing HousingWire’s weekend desk, with more coverage to come on bigger issues.”

4.Warren Buffett Reveals His Secrets for Investing in Real Estate
“There is no lack of information available about the institutional investment strategies of the world’s billionaires — how they move money in their capacity as the heads of large public companies and investment funds — but how often do you get the chance to look inside the personal investments of those billionaires? And how often does a billionaire offer you insights that you can use in your investing?”

5.Do you have what it takes to be a real estate rainmaker, or will you remain a buyer’s agent? 4 clues
“In real estate, nothing happens until you generate a lead. Whether you want to be a top-producing salesperson or the head of a successful agent team, successful “rainmakers” differ from lower-producing agents in a variety of ways”

6.Life After Fannie and Freddie
“The Senate Banking Committee has released a draft of a new plan to replace government-sponsored entities Fannie Mae and Freddie Mac. The new Federal Mortgage Insurance Corporation (FMIC) would guarantee conforming loans and provide regulation for turning government-guaranteed loans into mortgage-backed securities. “

7. Seven bold commercial real estate predictions
“Conjuring the future of commercial real estate begins by conjuring our future. How will we work, live, shop or do business? Perhaps no other investment sector is so closely tied to people’s most fundamental needs and behaviors; its evolution, to a large extent, follows ours. “

TonyAlvarez.com