Many real estate agents and their associates are neglecting important and growing niches in today's real estate market, according to Frances Martinez Myers, one of the speakers at the recent Realtors Conference & Expo. For example, immigrants represented 40 percent of new household formations between 2000 and 2005, and their numbers are still growing dramatically, it was noted. In the 25-to-34 age group, about 20 percent of the population is now foreign-born. And about 14 ... [full story]

The U.S. housing slump has spread south across the border, dampening a coastal real estate boom boosted in recent years by Americans snatching up vacation and retirement homes in Baja California and elsewhere in Mexico. How long the downturn will last dominated much of the conversation at a recent conference on Mexican resort development at La Costa Resort and Spa in San Diego. The event, sponsored by the Baker & McKenzie law firm and Sausalito, ... [full story]

Fixed mortgage rates reversed course, with the average conforming 30-year fixed mortgage rate rebounding to 6.17 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.36 discount and origination points.  The average 15-year fixed rate mortgage popular for refinancing increased even more, to 5.89 percent. The average jumbo 30-year fixed rate jumped to 7.24 percent. Adjustable mortgage rates were higher across the board, with the ... [full story]

Major changes are taking place in the reverse mortgage industry. And with its rapid growth during the past year or so, it certainly has become an industry. First the basic definition: A reverse mortgage is a loan against the equity in the home owned by a senior individual or couple. In most cases the owner(s) must be at least 62 years of age. The loan provides monthly income for the owners, usually for the rest ... [full story]

Residential mortgage brokers may soon have a new set of guidelines to follow when dealing with their borrower clients. At least that's the objective of a new resolution approved by the Residential Board of Governors of Mortgage Bankers Association. The board wants more clarity and accountability in transactions handled by mortgage brokers. It also wants more net worth and bonding requirements for brokers. It's an attempt to minimize broker-related problems and enhance the quality of ... [full story]

Title companies play a little-known role in our lives beyond searching for property title defects and adding substantial costs at sales transactions closing tables. They also serve as a primary information source for collection of child support liens filed against real properties. "The role title companies play in the collection of child support often goes unrecognized by regulators and consumers," said California Land Title Association Executive Vice President Craig Page. "Not only do title insurers ... [full story]

Fixed mortgage rates fell to the lowest level since Sept. 2005, with the average conforming 30-year fixed mortgage rate now 6 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.35 discount and origination points. The average 15-year fixed rate mortgage popular for refinancing decreased by a similar amount, to 5.68 percent. Even the average jumbo 30-year fixed rate joined the party, falling to 7.12 ... [full story]

Golf Architect David Mclay Kidd Purchases Tetherow’s First Homesite BEND, Ore. – In late October, international golf course architect David McLay Kidd and his wife Jill closed on the sale of the first homesite at Tetherow, a new 700-acre golf resort community near Bend, Ore. They were quickly followed by 18 more buyers. The 19 lots have a combined value of close to $12 million.   Golf architect David McLay Kidd    Tetherow Golf Course Kidd, named “the hottest architect in ... [full story]

Fixed mortgage rates fell to the lowest level since March, with the average conforming 30-year fixed mortgage rate now 6.17 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.36 discount and origination points. The average 15-year fixed rate mortgage popular for refinancing decreased by a similar amount, to 5.85 percent. But the average jumbo 30-year fixed rate continued to move higher, rising to 7.24 ... [full story]

Single-family existing-home sales were stable in October while the condo sector was down, according to the National Association of Realtors. Lingering effects of the credit crunch were a drag on sales but the mortgage situation has improved significantly. Total existing-home sales -- including single-family, townhomes, condominiums and co-ops -- eased by 1.2 percent to a seasonally adjusted annual rate of 4.97 million units in October from a downwardly revised level of 5.03 million in September, ... [full story]

Mortgage rates declined slightly this week, with the average conforming 30-year fixed mortgage rate now 6.29 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.35 discount and origination points. The average 15-year fixed rate mortgage popular for refinancing slipped down to 5.92 percent. The average jumbo 30-year fixed rate jumped to 7.20 percent. Adjustable mortgage rates were mixed, with the average one-year ARM rising ... [full story]

In the few weeks since I published a letter on Mortgage Merge Accounts (MMAs), I have received all sorts of e-mails about this topic. Today, I'm publishing two letters (edited for spelling and clarity) that I think will help shed a little light on the subject.Comment: I have enjoyed reading your columns, and have gleaned information from them, but when I read your response to concerning money-merge accounts, I was surprised. It is the typical ... [full story]

Miguel Albarran's adjustable mortgage is a ticking time bomb. Each time it goes up, he feels the pressure build on his family budget. The payment is set to rise again in December, this time by $1,100 a month, putting a potentially unbearable strain on his family of five in Vista, Calif.   RAISING THE ROOF - Home prices are passing the U.S. conforming-loan limit in recent years. CNS Illustration. Many homeowners across the nation share Albarran's problem, ... [full story]