Sep 19 2008
NEW YORK (CNNMoney.com) — As part of the massive housing rescue bill passed by Congress in July, troubled borrowers will be able to refinance their home loans with the backing of the Federal Housing Authority (FHA) starting on October 1.
But at a congressional hearing today in Washington, lenders didn’t seem terribly enthusiastic about the program, [...]
Sep 17 2008
Are homeowners in denial?
Are they stubbornly — maybe irrationally — clinging to the belief that other people’s homes may be losing value, but theirs isn’t? How else, one wonders, to explain sellers who cling fast to pre-housing slump notions in this wacko market?
Or are they getting it — to the [...]
Sep 16 2008
The government takeover of Fannie Mae and Freddie Mac has sent mortgage rates tumbling, prompting homeowners and would-be buyers to flood loan offices with phone calls.
But there’s a catch: Although the lower interest rates make it easier to get a mortgage, many lenders this week also raised the minimum down payment they’ll allow on a [...]
Sep 15 2008
‘Equity release’ is the newest way to turn your home into a piggy bank. But the risks can be sizable.
By ANNE TERGESEN
September 13, 2008; Page R6
When Gladys Tully needed cash for some home projects, the 72-year-old decided to tap into the value of her $800,000 home near San Diego.
But rather than use a home-equity loan or reverse [...]
Sep 11 2008
Red Mountain Retail and Allied Retail Partners have selected real estate investment management firm Buchanan Street Partners to structure all necessary capital for the $218.4 million development of El Portal Entertainment Center in South Gate, about 15 miles south of Downtown Los Angeles.
The nearly 500,000-square-foot regional multimedia-themed regional shopping center is being designed to target [...]
Sep 09 2008
A primer on the two mortgage giants and why you should care about the government takeover.
By Alana Semuels, Los Angeles Times Staff Writer
September 8, 2008
Most borrowers never come into contact with mortgage finance giants Fannie Mae and Freddie Mac. That’s because the companies work with lenders rather than consumers.
Nevertheless, Fannie and Freddie play an [...]
Sep 08 2008
Los Angeles
MarketWatch
Week Ending September 05, 2008
Foreclosures in Lancaster to be Transformed into Affordable Housing
Ann M. Simmons, Los Angeles Times
September 2, 2008
While other cities are hoping for federal aid to help them address the problem, Lancaster is using city funds to buy, renovate and sell vacant homes. So far, Lancaster’s Redevelopment Agency has agreed to spend [...]
Sep 04 2008
Investor Acquires 15-Unit Complex in Los Angeles
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Sep 03 2008
Weekly Market Insight
GDP Vs. Job Growth
September 1, 2008
Gross domestic product, the output of goods and services produced in the U.S., grew at a revised rate of 3.3% annualized in the second quarter. In the first half of the year, annualized GDP rose 2.1% even as the labor market shed 463,000 net payroll jobs through [...]
Sep 02 2008
California lawmakers passed a bill aimed at cutting carbon-dioxide emissions by rewarding cities and counties that prevent urban sprawl and improve public transportation.
The bill’s proponents and transportation experts say it is the first measure in the nation to link government transportation funding with urban planning and CO2-reduction goals. Senate Bill 375 contends that cutting back [...]