Investor News

Big Appeal of Small Homes    Small homes have been getting a lot of positive attention these days, and with good reason. Rising energy bills, soaring home prices, and a trend towards urban living have made compact properties an attractive option for buyers. In this week's Book Review at REALTOR® Magazine Online, get tips from a photo-filled home design and architecture book that focuses on making the most of a small space. Read more...
Builder Confidence for January 2006. The latest report from the National Association of Home Builders (NAHB) on the Builder Confidence for January 2006.
Builder Confidence for May 2006 Declines to Low Last Seen in 1995.  The confidence level of the nation's home builders continues to decline in 2006, falling this month to its lowest reading since June 1995, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The seasonally adjusted HMI stands at 45, down six points from April's revised reading of 51. An HMI above 50 indicates that more builders view sales conditions as good versus poor. In the West, builder confidence declined eight points to a seasonally adjusted HMI of 61. According to NAHB, declining demand from investors, rising mortgage interest rates, and continued affordability issues all contributed to the decrease in builders' outlook for the new home market. All three HMI components declined in May. The indices measuring current and future home sales both fell five points to 54 and 50, respectively, while the component gauging buyer traffic decreased seven points to 32. Home builder confidence edged down across the nation in May.  Read more...
California Foreclosure Activity Rises  The number of mortgage default notices sent to California homeowners increased during the first quarter of 2006, rising 23.4 percent from the fourth quarter of 2005, according to a recent report by DataQuick Information Systems. Lending institutions sent default notices to more than 18,600 homeowners between Jan. 1 and March 31, up 28.7 percent when compared with the 14,501 default notices sent during the same period one year earlier. Declining home appreciation rates impacted the rise in default activity during the first quarter, according to the report. While nearly all regions of California experienced an increase in foreclosures, mortgage loans were least likely to go into default in the Bay Area and most likely in the Central Valley and Inland Empire. Read more...
Consumer Confidence Continues Upward Trend Consumer confidence continued to rebound in January and is now at its highest level since June 2002, according to The Conference Board's Consumer Confidence Index. The Index rose 2.5 points last month and now stands at 106.3 (1985=100). The Present Situation Index also increased, climbing to 128.4 from 120.7, while the Expectations Index declined to 91.5 from December's reading of 92.6. Read more...
Paint With A Click of The Mouse   When you are pondering which color of paint would look best, head to one of these free Web sites. Read more...
Pending Home Sales Decline for Fourth Consecutive Month The Pending Home Sales Index (PHSI) continued to decline in December 2005, reflecting the effect of higher mortgage interest rates in November, according to a recent report by NAR. Based on the number of transactions that have signed contracts but are not yet closed, the PHSI gauges home sales activity for upcoming months, as sales typically close within one or two months of contract signing.  Read more...
Real Estate Foreclosures On The Rise - Western states post 'rapid increase'   The number of new foreclosed residential properties available for sale nationwide increased 9 percent from February 2005 to February 2006, according to data released today by Foreclosure.com, while the total number of foreclosed properties available for sale dropped 7 percent from January 2006 to February 2006.  Read More...

Fast Facts

Calif. median home price - Dec. 05: $548,430 (Source: C.A.R.)

Calif. affordability index - Nov. 05: 14 percent (Source: C.A.R.)

Calif. highest median home price by C.A.R. region Dec. 05: Santa Barbara So. Coast $1,300,000 (Source: C.A.R.)

Calif. lowest median home price by C.A.R. region Dec. 05: High Desert $320,490 (Source: C.A.R.)

Mortgage rates - week ending 2/2: 30-yr. fixed: 6.23%; Fees/points: 0.5% 15-yr. fixed: 5.81%; Fees/points: 0.5% 1-yr. adjustable: 5.33%; Fees/points: 0.7% (Source: Freddie Mac)