As banks are scaling back on making FHA and other types of first time buyer loans, they're issuing a record number of million dollar plus loans. “These high-net-worth borrowers do act differently than first-time buyers, who borrow because they have to,” says Erin Gorman, managing director at Bank ... » Learn More about Banks Dish Out Million Dollar Mortgages, Tight On First Time Buyers
housing affordability
California Housing Market at a Glance – Prices Dropped!
After several years of appreciating values, California's median home prices dropped slightly month over month. As I've been conveying for the past year, the market has been changing from a sellers market to one of neutrality. Existing Home Sales are up a slight 1.5% month over month, but down ... » Learn More about California Housing Market at a Glance – Prices Dropped!
Billionaire Thinks Home Ownership Still the Best Investment
John Paulson, a billionaire hedge fund manager, says that for those looking for the best investment possible, they need to look toward home ownership. At the Delivering Alpha conference, presented by CNBC and Institutional Investor, Paulson said: "I still think, from an individual perspective, the ... » Learn More about Billionaire Thinks Home Ownership Still the Best Investment
San Fernando Valley Housing Inventory Up, Sales Down
San Fernando Valley active inventory is higher than at any point in the past two years, and the sales volume is below the last two years. Even though property values are still appreciating, it is at a much lower level than we've seen over the past 3 years. The supply and demand ratio conveys that ... » Learn More about San Fernando Valley Housing Inventory Up, Sales Down
Regulators Penalize Lenders for Maternity Discrimination; More Conflicting Regulations
The Justice Department and the Department of Housing and Urban Development (HUD) have issued several monetary penalties this year to lenders for alleged maternity discrimination against loan applicants. Investigators found that lender’s underwriting criteria stated if the applicant is on family ... » Learn More about Regulators Penalize Lenders for Maternity Discrimination; More Conflicting Regulations