Archive | September, 2014

SOLD – $200,000 Beautiful 2br/2ba Condominium in South Palm Springs

  Casa Canyon condo on fee land in South Palm Springs with low HOA dues. This 3rd floor unit features the most magnificent mountain views high above the tree-tops. Large West facing terrace with sliding doors from the HUGE Master suite as well as the open Living room. High ceilings and amazing natural light flood […]

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ZIP Codes of the Super Rich

  Ten percent of ZIP codes in the San Jose metro have median home values of more than $2 million. RICHARD FLORIDA   Jul 3, 2014 When the housing market crashed in 2007, it was hard to imagine that, less than a decade later, home prices would return to and exceed these already stratospheric levels in […]

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How Taxpayers Subsidize Freddie Mac

  By JOE LIGHT Because of a relatively obscure quirk in the mortgage market, taxpayers in effect subsidize Freddie Mac FMCC +0.00% to the tune of $400 million to $600 million annually, according to an Urban Institute report released Wednesday. Freddie Mac, along with competitor Fannie Mae FNMA +0.85%, plays a central role in the bond market by backing and issuing securities whose payments are drawn […]

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Housing Woes Worse in L.A. Than New York, San Francisco

  By Nadja Brandt and John Gittelsohn  Sep 3, 2014 9:47 AM PT Jeanette Cross took out a payday loan to cover her May rent of $1,600 in South Los Angeles. She skipped car and insurance payments to keep a roof over her head. “I’m further and further behind,” Cross, a 34-year-old single mother of four, said […]

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How to get a mortgage right now, even with bad credit

  HUD, FHA programs abound for those hit by the recession Trey Garrison  September 2, 2014 3:59PM In his interview with HousingWire, Mel Watt, the director of Federal Housing Finance Agency urges the opening of the mortgage credit box to less-than-optimal borrowers. “We are getting lenders to reduce some of the credit overlays,” he said in the exclusive […]

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Where Are the Baby Boomers Going to Live Out Their Golden Years?

  The share of elderly Americans is increasing. National preparedness for their housing needs is not. KRISTON CAPPS    Sep 2, 2014 We love to talk about Millennials. In headlines today, for example, there’s talk about how Millennials prefer cash over credit and how they’re the absolute worst in the office (except when they’re not). But we could stand to spend […]

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Angelo Mozilo Speaks: No Regrets at Countrywide

By Max Abelson  Sep 1, 2014 9:00 PM PT Angelo Mozilo cannot believe it. Six years after he lost control of the largest mortgage lender in the U.S., and days after news that the U.S. Attorney’s Office in Los Angeles plans to sue him, the Countrywide Financial Corp. founder is baffled by a new effort to punish […]

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Lower rates fail to fuel home buyers

  Diana Olick | Wednesday, 3 Sep 2014 | 7:00 AM ET Interest rates for U.S. mortgages dropped to their lowest level in over a year last week, but that wasn’t enough to move potential home buyers off the fence and into a house. Total mortgage application volume rose just 0.2 percent last week from the previous […]

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SOLD!- $370,000 4br/2ba Single family home in South Palm Springs

  South Palm Springs beauty on Fee land with no HOA dues under $375K? This is your chance! This home delivers 4 bedroom (3 bed + den), salt water pool & spa with waterfall, privacy, & mountain views. Large open great room features a chefs kitchen with granite counter-tops, center island, formal living room with […]

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