Mortgage and Real Estate News: November 2016

Tuesday, November 22, 2016

For Sale: Prince's Minnesota Homes

The special administrator of the estate of the late music legend Prince has put several of the singer's Minnesota properties up for sale.

Saturday, November 19, 2016

Among the secrets of next-door millionaires: one house, one spouse

The way most Americans build wealth is no secret: save, invest, repeat. How average people keep their wealth, though, gets a lot less attention.

It boils down to how they handle risk. It's hard to accumulate wealth without taking some risks, but there are perils that "next-door millionaires" seem to avoid.

Mall developer Rusty Lyon, founder of Westcor, dies

Mall developer Rusty Lyon, founder of Westcor, has died after a battle with Alzheimer's disease, according to The Arizona Republic . He was 86 years old.

Lyon launched Westcor in 1964, and was responsible for many of the Valley's malls, including Scottsdale Fashion Square, Biltmore Fashion Park and Metrocenter.

A frightful look back at the crash of Arizona commercial lender Mortgages Ltd.

The crash of Arizona's biggest commercial lender Mortgages Ltd. is still a nightmare for many.

The lender's nearly $1 billion collapse and its CEO Scott Coles' suicide in 2008 led to huge investor losses, too many foreclosures, a slew of lawsuits and fraud charges by regulators.

Developer sues California panel for $490M over coastal land

NEWPORT BEACH, Calif. (AP) - Developers have sued the California Coastal Commission for more than $490 million in damages for failing to approve a project that would have turned a 401-acre stretch of oil field overlooking the Pacific Ocean into a housing and retail development.

Rest more... http://m.washingtontimes.com/news/2016/nov/5/developer-sues-california-panel-for-490m-over-coas/

Friday, November 11, 2016

Is the mortgage credit box really loosening?

The Federal Reserve sent out a survey to senior loan officers, asking about the status of mortgage credit, if it was loosening and how many consumers are applying for the products.

Tuesday, November 8, 2016

DR Horton Q4 2016 earnings

(Reuters) - D.R. Horton Inc, the largest U.S. homebuilder, reported an 18.7 percent rise in quarterly profit as it sold more homes at higher prices.

The company said it expects fiscal 2017 home sales to rise in a range of 8-13 percent.

Saturday, November 5, 2016

Hong Kong raises stamp duty to cool feverish housing market

HONG KONG -- Wary of a looming housing bubble, the Hong Kong government introduced new measures on Friday evening in the hope of cooling the city's overheated residential market.

What's On Your Personal Balance Sheet?

John Augustine: Since this past summer, one of our top recommendations to clients of the Huntington Private Bank has been the importance of having a personal balance sheet.

Tuesday, November 1, 2016

US rental market analysis

Demand is drying up in the priciest markets.

On the surface, rents, when averaged out across the US, still rose in October, though way slower than during the landlord's golden days, with one-bedroom median asking rent up 1.5% year-over-year and two-bedroom rent up 2.5%, according to Zumper's Rent Report.

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