ATTOM Data Solutions’ Latest Report Shows Which Neighborhoods Received the Best Returns on Real Estate

Today’s News Synopsis:

Freddie Mac reported an increase in mortgage rates for the second week in a row with 30-year rates now at 4.03% and 15-year rates at 3.29%.  ATTOM Data Solutions’ latest report shows which neighborhoods were the strongest and received the best returns on their real estate.  Janet Yellen’s had her final day before Congress today, where she discussed housing, banking, and regulatory reform.

In The News:

Bloomberg – “Brooklyn Renters Get Bargains Even as Buyers Are Priced Out” (7-12-2017)

“Finding a place to live in Brooklyn is easy if you want to rent a home — not so much if you want to buy one.  An avalanche of newly built rentals has blanketed the borough, driving leasing costs down in June for the ninth time in a year and pushing landlords to compete for who can offer the sweetest deal.”

HousingWire – “Amazon quietly reveals possible expansion into real estate” (7-13-2017)

“As shoppers scoured Amazon’s website on Tuesday for its annual Prime day deals, the online shopping giant quietly disclosed a new service coming soon to its users, which would embark into the world of real estate and turn it into a competitor with Zillow and Redfin.”

Freddie Mac “Mortgage Rates Jump Again” (7-13-2017)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates rising across the board for the second consecutive week.”

Black Knight Financial Services – “Black Kight Presented Above and Beyond Award by U.S. Dept. of Defense ESGR Program” (7-13-2017)

“Black Knight Financial Services, Inc. (NYSE: BKFS) was presented with an Above and Beyond Award by the Employer Support for the Guard and Reserve (“ESGR”), a U.S. Department of Defense program, the company announced today.”

Realty Trac – “Solid Neighborhoods with Stellar Real Estate Returns” (7-13-2017)

“Buying an investment property in a good neighborhood doesn’t have to mean sacrificing high investment returns — if you know where to look and are willing to look outside your backyard.”

NAHB – “Texas Developer Joins Federal Home Loan Bank of Dallas Board” (7-13-2017)

“The Federal Home Loan Bank of Dallas (FHLB Dallas) announced the election of G. Granger MacDonald to FHLB Dallas’ Board of Directors (Board). Mr. MacDonald was elected by the Board to fill an independent director seat that was vacated in April.”

Mercury News – “Bay Area’s rocketing real estate market leads nation in ‘over asking’ sales, new report says” (7-13-2017)

“As the national drought in home supply dragged into its 21st straight month, competition among buyers drove prices up once again.  And the fiercest competition was in the Bay Area.”

DS News – “Yellen in the Hot Seat” (7-13-2017)

“Janet Yellen, Chair of the Board of Governors of the Federal Reserve, completed the second day of her semi-annual testimony to the Senate on Thursday, and fielded questions from Congress in regard to housing and banking, including her thoughts on proposed regulatory reform.”

HousingWire “Millennials far more likely to regret their real estate choices” (7-13-2017)

“The housing market improved significantly since the recession including rising home prices and a drop in foreclosures, however many Americans are still scarred from their last real estate choices.”

Mortgage Professional America “Appraised home values remain lower than owners’ expectations – study” (7-13-2017)

“Owners continue to value their homes more than appraisers do, according to research by mortgage lending company Quicken Loans.”

 

Bruce Norris will be presenting his latest talk 10 Life-Changing Days of a Real Estate Investor with InvestClub for Women on Wednesday, August 16.

Bruce Norris will be presenting his latest talk 10 Life-Changing Days of a Real Estate Investor with SJREI on Thursday, September 14.

Bruce Norris will be presenting Cashing In On A Boom up in San Jose on Saturday, September 16.

Looking Back:

The Mortgage Bankers Association reported a 7.2% increase in mortgage applications.  The main group at this time that was not interested in purchasing a home was millennials who were still paying their student debt.  Interestingly, a popular site for a lot of home-buyers was for those centered on the farm.

 

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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