It was highly inspiring to see young entrepreneurs and experienced professionals brimming with new ideas at the OCTANe’s VC in the OC Event on May 22, 2013. Octane has the goal of enabling the creation of 10,000 new jobs by 2020 in Orange County, CA. In his Key Note address, Dr. Thomas J, Campbell, Dean of Law School, Chapman University has pointed out that it takes great universities, supportive government, investors, entrepreneurs, and good demographics to build a sound local eco system. HomeUnion keeps all these factors in mind when selecting cash flow zones for potential investment.
Housing Indicators Trending Up
FHFA’s house price index rose 6.7% in the first quarter of 2013 compared to the first quarter of 2012. The index was up 1.3% in March on a month-over-month basis. The index is calculated the house price information of mortgages sold to or guaranteed by Freddie Mac and Fannie Mae.
Sales of new single-family houses in April 2013 were at an annual rate of 454,000, up 2.3% above the March rate, and up 29.0% above the April 2012 figure, according to a joint release by US Census Bureau and US Department of Housing and Urban Development.
According to National Association of Realtors, the total existing-home sales, which are completed transactions that include all types of homes, increased 0.6% in April to an annual rate of 4.94 million in March. Foreclosures sold for an average discount of 16% below market value in April while short sales were discounted 14%. All-cash sales were at 32 percent of transactions in April, and Individual investors, who account for most cash sales, purchased 19 percent of homes in April.
Freddie Mac’s 30-year fixed-rate mortgage averaged 3.59%, and the Mac’s 15-year fixed-rate mortgage averaged 2.77%, for the week ending May 23, 2013.