Lake
Tahoe Real Estate - Single Family - Pioneer Village
Lake
Tahoe Real Estate - Condo/Townhouse - Pioneer Village
Lake
Tahoe Real Estate - Multi Family - Pioneer Village
Lake
Tahoe Real Estate - Land - Pioneer Village
Lake
Tahoe Real Estate - Commercial - Pioneer Village
LOAN APPS INCREASE 7.9 PERCENT The Market
Composite Index of mortgage loan applications, a measure of
mortgage loan applications, stood at 709.9 for the week ending
Oct. 15, an increase of 7.9 percent on a seasonally adjusted
basis from 658.2 one week earlier, according to a report released
today by the Mortgage Bankers Association (MBA). On an unadjusted
basis, the Index decreased 2.8 percent for the week ending
Oct. 15 compared with the previous week but was up 8.4 percent
compared with the same week one year earlier. The refinance
share of mortgage activity increased to 45.6 percent of total
applications for the week ending Oct. 15 from 44.5 percent
the previous week. The adjustable-rate mortgage (ARM) share
of activity decreased to 34.8 percent of total applications
for the week ending Oct. 15 from 34.9 percent the previous
week, according to the report.
HUD ANNOUNCES 2005 RENT DATA The U.S. Dept.
of Housing and Urban Development (HUD) recently announced
its annual Fair Market Rents (FMRs) for communities throughout
the nation. The new FMRs reflect the latest 2000 Census data
and recent local rental market surveys, and take effect immediately.
Many of the comments HUD received from industry partners centered
around the new Office of Management and Budget (OMB) area
definitions which caused wide swings for certain communities.
To alleviate these concerns, HUD will implement the new rent
levels using 2000 Census data, as required by Congress, but
without using the new OMB area definitions. HUD has also conducted
24 local market surveys, also known as Random Digit Dialing
(RDD) surveys, in communities nationwide to ensure the new
rent calculations are in line with actual rents in those areas.
Another 29 surveys are underway and are expected to be completed
by the end of October. RDD surveys use randomly selected samples
to get data on current rents paid in one- and two-bedroom
rental units occupied by recent movers.
STOP SHAKEDOWN LAWSUITS: SUPPORT PROP. 64 C.A.R.
strongly supports Proposition 64 on the upcoming November
ballot. This measure will protect REALTORS® from trial lawyers'
ability to extort settlements based on frivolous claims. Small
business owners, including REALTORS®, are under assault from
unscrupulous lawyers who are taking advantage of a loophole
in California law. Under this current law, trial attorneys
can target small businesses for lawsuits even if they have
no client or any evidence that anyone has suffered damage
of any kind. Proposition 64 will stop trial lawyers from abusing
the system to harm small business. This is why it is no surprise
that trial lawyers are putting everything they have into defeating
this measure and are airing television commercials backed
by more that $1.6 million. Local Associations of REALTORS®
are encouraged to consider Local IMPAC funding for Californians
to Stop Shakedown Lawsuits: Yes on Proposition 64. Contribution
statements are available at http://www.stopshakedownlawsuits.com/pdf/contribute.pdf.
REALTORS® also may use this contribution statement to make
personal or business contributions.
C.A.R. Newsline is published by the CALIFORNIA ASSOCIATION
OF REALTORS®, a trade association representing more than 135,000
REALTORS® statewide.
