More Apartment Businesses Renting Out Single Rooms Rather Than Whole Apartments

Today’s News Synopsis:

The California Association of Realtors released their home sales and price report for April, showing median home prices at their highest in ten years and existing-home sales down 2.4% month-over-month and 1.7% year-over-year.  The New York Federal Reserve reported debt increased by $149 billion, passing the record level it was at during the financial crisis in 2008.  In order to market to the millennials, more apartment businesses are renting out individual rooms rather than entire apartments.

In The News:

California Association of Realtors – “April home sales and price report” (5-16-2017)

“Following a strong first quarter start, California home sales lost momentum in April, while the median home price accelerated to a near-10-year high, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.”

CNBC – “Household debt just surpassed the record level reached during the 2008 financial crisis” (5-17-2017)

“The New York Federal Reserve reports that household debt across the nation has hit a dubious milestone in the first quarter: It surpassed the peak debt level of 2008 at $12.7 trillion.”

Mortgage Bankers Association “Mortgage Applications Decrease in Latest MBA Weekly Survey” (5-17-2017)

“Mortgage applications decreased 4.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 12, 2017.”

Realtor.com – “8 Sign It’s Time to Walk (and Maybe Run) Away From a Home” (5-17-2017)

“It happens: You’re buying a home, but something just doesn’t feel right. Are you just getting cold feet—after all, this is likely the biggest purchase of your life—or is that lingering worry telling you those yellow (or, dare we say, red) flags should be a deal breaker?”

PR Newswire – “Real Estate Continues to Fuel Retirement Savings Growth for Self-Directed Investors” (5-17-2017)

“The Entrust Group, a pioneer and leading provider in the self-directed IRA industry, has released its annual Real Estate Investor Market Research Report highlighting 2016 trends in Real Estate IRA investments. For the first time, the report includes sales data alongside purchases.”

Realtor.com – “Big Developers Roll Out Co-Living Units to Woo Millennials” (5-17-2017)

“Numerous startup companies, including WeWork Cos., have launched apartment-sharing businesses that rent out individual rooms rather than entire apartments.”

CNBC “As self-driving cars hit the road, real estate development may take new direction” (5-17-2017)

“The futuristic vision offered by automated vehicles—the freedom to be active during your commute instead of wasting away behind the wheel while stuck in traffic—isn’t quite as utopian a scenario when you run it past cautious and concerned city planners.”

Bloomberg “Bernanke Says Economy Nearing Capacity With Jobless Rate Low” (5-17-2017)

“The U.S. economy should continue to deliver moderate growth but there is limited scope to pick up that pace with the jobless rate “about as low as it can go,” former Federal Reserve Chairman Ben Bernanke said.”

 

Hard Money Loan Closed

Moreno Valley, California hard money loan closed. Real estate investor received loan for $185,000 on this single family property appraised for $320,000.

Moreno Valley Hard Money Loan closed by the Norris Group

 

Bruce Norris will be speaking at the AOA “Million Dollar” Trade Show & Landlording Conference 2017 on Wednesday, May 24.

Bruce Norris will be speaking at The Southern California Chapter of the Appraisal Institute’s 20th Annual
Inland Empire Market Trends
on Thursday, June 1.

Aaron Norris will be presenting his latest talk Technology Trends and Effects on Real Estate with NorcalREIA on Wednesday, June 14.

 

Looking Back:

The NAHB reported a 6.6% increase in housing starts for the month of April.  The commercial market was expected to improve in the coming months according to the latest US Macro Forecast by Cushman & Wakefield.  A new bill was introduced by Rep. Tom Emmer that would change the purpose of the CFPB.

 

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6 pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.






 

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