Congress announced Thursday that it would give another $2 billion dollars to the government’s cash for clunkers program, officially titled the “Car Allowance Rebate System.” The last step in the process is a signature from President Barack Obama. The additional money was approved in a 60-37 v
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08/08/2009
Orange County has had annual sales gains for the past year. July marks the 13th straight month of year-over-year sales gains. In the month of July the median selling price of a home in Orange County was $425,000 which is down 10.5% from a year ago and 34% below the peak reached in June 2007. S
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08/08/2009
The construction industry in Orange County is starting to pick itself back up. The number of housing starts in Orange County more than doubled in June from May and are up 53% from last June. The first half of 2009 was rough for the construction industry throughout Orange County. During the f
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08/06/2009
Economist Sam Khater created a report of 90-day delinquencies in order to show that the foreclosure wave is only gaining momentum, it has never receded. This report was in response to many people claiming that the second wave of foreclosures was beginning. Khater said the foreclosure rate and
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08/06/2009
The County Clerk Board of Supervisors estimated that homeowner appeals filed last month may have jumped as much as 85% from last year. As of Thursday the office had received 1,854 tax filings, compared to less than 1,800 that were filed in July 2008. The county mailed out the assessment notic
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08/05/2009
The California Association of Realtors (CAR) has launched an iPhone application providing market data and news for agents using any web-enabled cell phone. The application is only available to CAR members and provides information such as median home prices, sales trends, loan rates and news al
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08/05/2009
The Treasury Department has released a report showing loan servicers have had a relatively poor record of helping borrowers under the Obama administrations foreclosure prevention plan. Bank of America was noted in the report as only helping 4% of eligible borrowers 60 days past due. The Treasur
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08/05/2009
Only 9% of the home owners that are eligible for the trial loan modification under the Obama administration’s $75 billion foreclosure prevention plan have been able to receive a loan modification. This number is only including people at least 60 days late on their mortgages - if the number of
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08/05/2009
The number of mortgage backed securities that Fannie Mae issued jumped 44% in June from the previous month, but they have not reported their monthly purchases of refinanced loans. In the month of May the number of mortgage back securities issued only reach $67.7 billion, compared to the $97.7 b
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08/03/2009
The number of requests for title insurance polices increased by 9% in the second quarter of the year according to First American Corp., but payments per policy fell. The change is very reflective of the current state of the housing market in which home sales increased while prices decreased.
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08/03/2009
