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California home-sales rate outpaces '08

By Inman News, Thursday, March 26, 2009.

The sales pace for previously owned single-family homes in California soared 83 percent year-over-year in February while the median price plunged 40.8 percent, the California Association of Realtors reported this week.  more...

Rental situation turns dangerous

By Janet Portman, Thursday, March 26, 2009.

Q: Until recently, my daughter was in a rental situation that was downright dangerous. Her roommates turned out to be inconsiderate and mean, and when they drank, they were violent. My daughter was afraid for her safety and moved out, after explaining the situation to the landlord and giving him the keys. The roommates are demanding that she pay her share of the rent, and the landlord doesn't want to get involved. What should we do? --Eric S.  more...

Buyers, don't forget 5-year rule

By Tara-Nicholle Nelson, Thursday, March 26, 2009.

Q: My friends and family are all pressuring me to buy a home. I'm totally obsessed with HGTV, and love to go to open houses in my neighborhood, just to look. I would love to own my own home, and can well afford to. My only concern is the commitment. It seems like such a big, long monetary commitment, and sometimes I'm not even sure if I want to stay in this area much longer or explore some more. I do live in a high-priced area, and sometimes I worry that if I do decided to stay here, and I don't buy in the next year or so, I might end up priced out of ever buying in this area.

A: If you read this column regularly, you know by now that I am usually bullish on buying. For most folks, that can afford to buy, and want to buy -- buying strategically is usually a good thing to do.  more...

Walls can talk

By Teresa Boardman, Thursday, March 26, 2009.
<a href="http://www.flickr.com/photos/tboard/3346592953/in/photostream/" target=blank>Copyright © 2009 Teresa Boardman</a>.

Houses speak to me and they always have.

They tell stories and reveal secrets. The basketball hoop on the garage says that children once played there. The tool bench says that the mister liked to fix things.

The ancient stove in the basement says that the same people lived in the home for a long time.  more...

Mortgage rates hit another low

By Inman News, Thursday, March 26, 2009.

Rates on fixed-rate mortgages hit new lows this week in response to the Federal Reserve's announcement that it will make big purchases of Treasurys and mortgage-backed securities.

The 30-year fixed-rate mortgage averaged 4.85 percent with an average of 0.7 point for the week ending March 26, down from 4.98 percent a week ago and 5.85 percent a year ago. The rate has never been lower since Freddie Mac began its survey in 1971.  more...

Condo.com adds past sales, rental data

By Inman News, Thursday, March 26, 2009.

Florida-based Condo.com, which advertises condos for sale and for rent in the United States and internationally, announced site upgrades that add past sales and rental data on more than 3,500 buildings in the South Florida, Orlando and Tampa areas.  more...

National lender implements Mortgage Builder

By Inman News, Thursday, March 26, 2009.

Mortgage Builder Software, a software company focused on the lending industry, has announced that Wintrust Mortgage, a Chicago-based national lender with more than 30 branches, has gone live with its Web-based loan origination platform. Wintrust Mortgage recently merged one of the Chicago area's largest mortgage originators into its existing operations.  more...

California housing production falls in February

By Inman News, Thursday, March 26, 2009.

The California Building Industry Association reports that housing production in the state fell again in February, a decline that has been continuous since its peak in 2005 (see Inman News). According to CBIA statistics, single-family permits totaled 1,261, down 50 percent from last year, while multifamily permits totaled 1,037, down 76 percent from last year but up 41 percent from January.  more...

Seasoned real estate

By Inman News, Thursday, March 26, 2009.

Photo by GINA MAYES HARRIS

"Seasoned real estate."

Gina Mayesa Harris of RE/MAX Metro in Davidson, N.C., captured this image of a tree and cemetery on March 20, 2009. "The best part is the leaves will come back and so will the market. Better yet, the leaves will turn brillant colors with the seasons and the market will keep changing and growing."  more...