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Wednesday, October 7, 2009

Daily Real Estate News

---------- Forwarded message ----------
From: REALTOR(R) Magazine Online <NAR@newsletters.realtor.org>
Date: Wed, Oct 7, 2009 at 2:24 PM
Subject: Daily Real Estate News
To: john@johnjrose.com


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October 7, 2009

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FHA Defends Role in Recovery
Federal Housing Administration Commissioner David Stevens says the government insurer poses little risk to taxpayers and is underwriting far more lower-risk borrowers compared to a few years ago.
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Mortgage Applications Rise as Rates Fall
Refinancings were up 18 percent last week, the highest level since May, while purchase activity jumped nearly 13 percent, according to the Mortgage Bankers Association.
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Office Vacancy Rates Still Soaring
Nationwide vacancies reached a five-year high of 16.5 percent in the third quarter, while rents continued to decline, according to Reis Inc.
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Builders Win Right-to-Repair Case
Home owners must initiate repair process in construction defect cases before filing lawsuits, according to California Superior Court ruling.
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Buyers Are Cutting the Fluff, Architects say
More favor energy-saving features, including better insulation and solar panels over high-end kitchens and baths, according to an American Institute of Architects survey.
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Starwood to Acquire Distressed Condos
Investment group to take over 112 construction loans, two-thirds of which are in default or foreclosure.
Read more >

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