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Curing the real estate disconnect

By Inman News, Wednesday, November 26, 2008.

Besides the field of top real estate industry executives, the Jan. 7-9 Real Estate Connect conference in New York City will feature a wine and Web 2.0 expert; the economist behind the Case-Shiller home-price indices and author of "Irrational Exuberance"; the man behind the global empire of community sites that is craigslist; the top economist for the National Association of Realtors; and a New York Times financial news reporter, to name a few (see conference program).  more...

New-home price slips to '04 level

By Inman News, Wednesday, November 26, 2008.

October sales of new single-family homes dropped to the lowest annual pace since January 1991, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported today, and fell about 40.1 percent compared to October 2007.

The median price of new single-family homes dropped to the lowest level since September 2004.  more...

LandAmerica files for bankruptcy protection Premium Content

By Matt Carter, Wednesday, November 26, 2008.

LandAmerica Financial Group Inc. has filed for Chapter 11 bankruptcy protection and plans to sell its title insurance underwriting subsidiaires to companies under the umbrella of rival Fidelity National Financial Inc., a week after Fidelity backed out of a planned merger of the companies.

Fidelity subsidiaries Fidelity National Title Insurance Co. and Chicago Title Insurance Co. have agreed to pay $298 million to acquire LandAmerica subsidiaries Lawyers Title Insurance Corp., Commonwealth Land Title Insurance Company, and United Capital Title Insurance Co., LandAmerica said.  more...

One in three apps seek FHA, VA loans

By Inman News, Wednesday, November 26, 2008.

Government-insured loans -- primarily those backed by the Federal Housing Administration -- accounted for about one in three mortgage applications in October, the Mortgage Bankers Association reported.

That's a dramatic rise from one in 10 applications a year ago, the MBA said, and the biggest share of applications for FHA, VA and other government insured loans since February, 1991. The MBA cited lower down payment requirements and less strict underwriting standards for the loans as reasons for their popularity.  more...