Lake Tahoe Gated Communities Real Estate - Lake Tahoe Real Estate

LACK OF HOMEBUYING INFORMATION STALLS MEXICAN-AMERICAN HOMEOWNERSHIP Too few trusted sources of information is a key barrier to homeownership facing Mexican-Americans and keeping hundreds of thousands of Latino families from achieving homeownership, according to a recent study from the Tomas Rivera Policy Institute at the University of Southern California entitled "El Sueno de su Casa: the Homeownership Potential for Mexican-Heritage Families." El Sueno de su Casa also found that when looking for trustworthy information about home buying, Latinos of Mexican origin look first to real estate professionals, followed by friends, coworkers and family. The Tomas Rivera Policy Institute estimates at least 1.5 million Latino households will buy homes by 2010. But, the report says, the housing industry could help another 700,000 Latino families become homeowners by taking several proactive steps such as providing more Latino renters with bilingual outreach, counseling and access to innovative mortgage products. Under that scenario, the report predicts a total of 2.2 million new Latino homeowners by 2010 and that the Latino community could account for 19 percent of this decade's jump in the national homeownership rate.

MORTGAGE LOAN APPS UNCHANGED The Market Composite Index of mortgage loan applications, a measure of mortgage loan applications for purchases and refinacings, decreased 0.6 percent on a seasonally adjusted basis for the week ending in August 27 from 646.3 one week earlier, according to a report from the Mortgage Bankers Association (MBA) released today. On an unadjusted basis, the Index decreased by 1.9 percent for week ending August 27 compared with the previous week but was up 2.6 percent compared with the same week one year earlier. The MBA seasonally adjusted Purchase Index decreased by 0.1 percent to 443.1 from 443.7 the previous week. The seasonally adjusted Refinance Index decreased by 1.1 percent to 1804.1 from 1824.9 one week earlier. Other seasonally adjusted index activity included the Conventional Index, which decreased 0.3 percent to 950.2 from 953.5 the previous week. The Government Index decreased 3.1 percent to 129.6 from 133.8 the previous week. The refinance share of mortgage activity increased to 40.7 percent of total applications from 40.4 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 33.1 percent of total applications for the week ending August 27, as compared with 32.1 percent the previous week, according to the report.

C.A.R. DONATES $15,000 TO FLORIDA HURRICANE VICTIMS California REALTORS® watched with great distress as Hurricane Charley devastated Florida earlier this month. California also has experienced its share of natural disasters and established the C.A.R. Disaster Relief Fund to help our members and local association staff impacted by the wildfires that ravaged Southern California late last year. Through the C.A.R. Disaster Relief Fund, C.A.R. has donated $15,000 to help our fellow REALTORS®, local association staff and their families in Florida rebuild their lives, their careers and communities in the wake of Hurricane Charley.

C.A.R. Newsline is published by the CALIFORNIA ASSOCIATION OF REALTORS®, a trade association representing more than 135,000 REALTORS® statewide.