House-price growth up 12.3%

Home-price appreciation was up 12.3 percent in the third quarter on an annualized basis due to low mortgage rates, which kept home sales up, according to Freddie Mac's national conventional mortgage home-price index.

House-price growth nationally was up from 10.5 percent in the first quarter of 2005, and 9.8 percent from the fourth quarter 2004, with the South Atlantic and Mountain states leading in appreciation levels.  more...

Americans believe in real estate bubble

More than two-thirds of Americans responding to a survey believe there is a real estate bubble, though many said they wished no one would discuss it in the interest of avoiding a self-fulfilling prophecy.

According to a survey conducted by real estate advice and information site ThinkGlink.com, 66 percent of respondents said there is a housing bubble, and nearly 45 percent said that people shouldn't talk about a real estate bubble because the more it is discussed, the more likely there will be panicked selling that would lower p  more...

HUD to make mortgage payments for disaster victims

Up to 20,000 families with FHA-insured loans displaced by Hurricane Katrina and other disasters can have their mortgage payments covered for up to a year by the Department of Housing and Urban Development, HUD said today.

The agency's $200 million initiative is designed to rebuild lives and communities, HUD said in a statement today.

To be eligible for this mortgage assistance, families must have homes that are repairable and located in a presidentially declared disaster area that is designated for individual assistance, according to HUD.

The assistance, dubbed the Mo  more...

Californians arrested in $8M real estate scam

The FBI arrested two Californians last week for allegedly victimizing dozens of Los Angeles County homeowners by falsely promising they could stop foreclosures, federal authorities said, according to media reports.

Martha Rodriguez, 33, of Downey, Calif., and Edward Seung Ok, 39, of Torrance, Calif., defrauded homeowners out of at least $8 million, according to an indictment by a Los Angeles federal grand jury, reports said.

The pair were arrested Wednesday by the FBI for allegedly promising that co-signers would help homeowners refinance their mortgages until they could cle  more...

California's real estate affordability worsens

California's housing affordability crisis continued to worsen in the third quarter of 2005, according to a report released Thursday, prompting the California Building Industry Association to urge state and local officials to remove barriers to new-home production.

The National Association of Home Builders/Wells Fargo Housing Opportunity Index, which analyzes affordability for 161 metro areas across the nation, found that – as usual – California's 24 metro areas were at the bottom of the list.

 more...

Home builder group finds support for real estate tax deduction

Given a choice of simplifying federal tax laws or retaining current housing incentives, Americans prefer to retain current housing incentives over changing federal tax laws, according to a survey conducted for the National Association of Home Builders.

The survey of 1,001 adults found that about 68 percent of participants "favor retaining deductions for mortgage interest and state and local taxes over a plan to simplify the current tax code," the home builders' group reported.  more...

Real estate technology company seeks to eliminate 'middleman'

A real estate technology company today announced the launch of a Web site where consumers can apply for a no-mortgage-fee, no-cost home loan, and also announced plans to launch technology that cuts real estate agents out of real estate transactions.

The site uses proprietary technology to search for the loan rates across dozens of lenders, according to an announcement by FutureNet Realty Technologies.  more...

Sotheby's expands on Florida's Gulf Coast

Sotheby's International Realty Affiliates announced it has expanded to serve towns and communities in and near Belleair, Fla. Homes & Estates Realty will now do business as Homes & Estates Sotheby's International Realty.

Homes & Estates Sotheby's International Realty operates two offices, including its main office located at 2969 West Bay Drive in Belleair Bluffs.  more...

Overnight real estate rates up

Long-term mortgage interest rates moved higher Friday, and the benchmark 10-year Treasury bond yield held at 4.52 percent.

The 30-year fixed-rate average climbed to 5.84 percent, and the 15-year fixed-rate rose to 5.41 percent. The 1-year adjustable was up at 4.48 percent.

The 30-year Treasury bond yield increased to 4.72 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states.  more...