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Amid housing challenges, LA residents voice concerns about foreign-owned vacant homes

Housing Wire

For years, wealthy international buyers have bought high-end homes in the U.S. Buyers from China often led the way. But a drop in home prices following the 2007-08 financial crisis led to an influx of foreign buyers in hotter real estate markets across the country, including Los Angeles. According to data from the U.S.

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With mortgage rate volatility, buyers can save by shopping around

Housing Wire

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. It’s transitioning to a buyers’ market, as 20% of sellers had a price reduction in August 2022, compared with 11% a year ago,” said Rich Weidel, CEO at Princeton Mortgage.

Buyers 482
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U.S. home prices hit 14-year high in October

Housing Wire

Craig Lazzara, managing director and global head of Index Investment Strategy at S&P Dow Jones Indices, said that it’s likely COVID-19 has pushed buyers to move from urban apartments to suburban homes. million, according to the National Association of Realtors. respectively. Census Bureau. Housing starts rose 1.2%

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Top of the list: An interview with Ben Caballero

Housing Wire

Ben Caballero : Our service supports builders, sales, their marketing and then management as it relates to marketing their homes to realtors. What builders don’t need is a realtor to list their homes in a traditional way. So that those agents will bring their buyer to the builder. I never talk to a buyer.

Realtors 417
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How JVM Lending plans to expand without any loan originators

Housing Wire

Back in the 2007-2009 meltdown, we had loan officers with us at that time. We are going to pursue the investor niche aggressively, meeting very specific realtors. We have our virtual assistants and our team looking for realtors who focus heavily on investment properties.” I thought it was sparse.

Lending 418
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HW+ Member Spotlight: Brian Gubernick

Housing Wire

Brian Gubernick : No question, the greatest learning opportunity I’ve experienced was the 2007-2008 housing market crash. NAR recently shared that there are nearly 30% more homes available for sale compared to earlier in the year but that buyers need to earn at least $125,000 to afford to buy most of these additional homes. .

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Have we already reached peak home sales for the year?

Housing Wire

From the National Association of Realtors : Total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops – bounced 9.5% In 2007, they were 4 million. The purchase application data has weakened as mortgage rates headed higher earlier in the year. million in February.

Inventory 508