Housing group calls for more federal support

Federal budget cuts proposed for public housing programs in 2007 could have devastating impacts, according to leaders of a national association that promotes affordable housing and redevelopment.

In a Monday presentation, representatives of the National Association of Housing and Redevelopment Officials said that the president's proposed budget calls for a 20 percent cut on subsidies for public housing and a 10 percent reduction in capital funds that help to maintain the existing stock of public housing.  more...

Partnership brings wireless real estate data to California agents

One of the nation's largest real estate multiple listing services, RE InfoLink in Campbell, Calif., will promote wireless property listings access to its members through a new partnership with Pocket Real Estate.

Pocket Real Estate, along with its parent Borran Software, offers access to real estate information on portable devices such as Treos, IPAQs and Blackberries, handheld computers and cell phones.

As part of the partnership, Pocket Real Estate will offer  more...

New ad tool bridges print and Web for real estate

AdWriter Inc. has launched a new real estate advertising tool to help brokers repurpose print ads on the Internet, the company said today.

The company's Externet product enables brokers to redisplay print advertising online, according to a company announcement today.

AdWriter has designed the Externet to be launched from the broker's Web site, giving listing brokers more control of leads generated from the online display of listings.  more...

Colorado man gets probation for real estate loan fraud

A former Colorado loan officer was sentenced to four years' probation last week for his guilty plea to fraudulently obtaining home mortgage loans for people who lacked sufficient income or who were not U.S.  more...

Fannie Mae delays financial results report

Fannie Mae said this morning that it notified the Securities and Exchange Commission that it will miss the March 16 deadline to file its 2005 annual report.

The lender said it expects that its annual report, which will include its restated results for 2004, won't be submitted before the second half of the year.

In its SEC filing, Fannie Mae cited the process and potential timing of its restatement and re-audit for the delay.  more...

Real estate sales forecast to drop this year

The National Association of Realtors trade group has lowered its expectations for existing-home sales in 2006, according to an announcement today.  more...

Northwest real estate sales, prices jump

Home sales in western Washington jumped 11.9 percent in February from the same month a year ago, as prices posted even larger gains, according to the latest figures from the Northwest Multiple Listing Service.

Brokers reported 5,999 closed sales last month, up from 5,359 reported a year ago.

The median price for those sales, which include single-family homes and condominiums, was $283,200 across the 17-county service area. That's up 13.3 percent compared to a year ago, with most counties reporting double-digit increases.  more...

Overnight real estate rates steady

Long-term mortgage interest rates were flat Friday, and the benchmark 10-year Treasury bond yield climbed to 4.76 percent.

The 30-year fixed-rate average dipped to 5.92 percent, and the 15-year fixed-rate remained at 5.6 percent. The 1-year adjustable was up at 4.79 percent.

The 30-year Treasury bond yield was up at 4.75 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...

Realtor group launches MLS rule-compliance software

The National Association of Realtors' technology center on Friday announced the launch of PolicyPage, an Internet compliance software application that scans Web sites for compliance with Multiple Listing System display policies.

PolicyPage is available from the Center for Realtor Technology at no charge to Realtors for use or licensing of the application, according to the announcement.

CRT developed PolicyPage to assist MLSs that review Web sites manually for compliance.  more...