Today’s News Synopsis:
The latest study from ATTOM Data Solutions showed that of the homes valued at a total of $4.9 trillion, 17.3 million of them are in zip codes where environmental hazards are a high risk. The latest HUD and Census Bureau reports showed housing starts decreased 2.6% to 1.246 million units. Housing affordability is at its lowest in 8 years, although levels are still considered positive despite this.
In The News:
“ATTOM Data Solutions, curator of the nation’s largest fused property database, today released its third annual Environmental Hazards Housing Risk Index, which shows that 17.3 million single family homes and condos with a combined estimated market value of $4.9 trillion are in zip codes with high or very high risk for at least one of four environmental hazards: Superfunds, brownfields, polluters or poor air quality.”
NAHB – “Housing Production in January Levels Off After Multifamily Surge” (2-16-2017)
“Housing starts returned to trend, dropping 2.6 percent to a seasonally adjusted annual rate of 1.246 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.”
Fannie Mae – “Policy Uncertainty Remains at the Center of Modest Growth Expectations” (2-16-2017)
“Conservative growth expectations for 2017 persist as the markets continue to weigh the unfolding policies of the new Administration, according to the Fannie Mae Economic & Strategic Research (ESR) Group’s February 2017 Economic and Housing Outlook.”
Freddie Mac – “Freddie Mac Reports Fourth Quarter and Full-Year 2016 Financial Results” (2-16-2017)
“Freddie Mac (OTCQB: FMCC) today reported its fourth quarter and full-year 2016 financial results and filed its annual report on Form 10-K with the U.S. Securities and Exchange Commission (SEC).”
“CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced the integration of six key mortgage origination product offerings on the Tavant FinConnect Mortgage Data Integration Platform including: credit reports, flood determinations, 4506-T income verification, Automated Valuation Models, LoanSafe Fraud Manager™, and LoanSafe Risk Manager™.”
NAHB – “Housing Affordability Remains Favorable Even as it Hits an Eight-Year Low” (2-16-2017)
“Shortages of buildable lots and skilled labor, along with excessive regulations, rising mortgage interest rates and ongoing home price appreciation pushed housing affordability in the fourth quarter of 2016 to its lowest point since the third quarter of 2008, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) released today.”
DS News – “Interest in Start homes, Premium Rise” (2-16-2017)
“We already spend 25 to 40 percent of our income on starter and trade up home. Trulia Experts say we should not spend more than 30 percent.”
Freddie Mac – “Mortgage Rates Continue Holding Pattern” (2-16-2017)
“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates slightly falling for the second consecutive week.”
Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor at the San Diego REI Expo on Saturday, February 18.
Bruce Norris will be speaking at 2017 Real Estate Market Forecast with Coldwell Banker on Tuesday, March 7.
Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor at NORCALREIA on Wednesday, March 8.
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The NAHB reported a three point decrease in building confidence this month. Mortgage default rates remained relatively the same at the start of the new year, coming in at .84% and 1.04%. New bankruptcy rules for the Easter District of Michigan went into effect at the beginning of this month.
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.
Tags: ATTOM Data Solutions, bruce norris, Census Bureau, CoreLogic, Department of Housing and Urban Development, Environmental Hazards Housing Risk Index, fannie mae, February 2017 Economic and Housing Outlook, freddie mac, hard money, Hard money lender, housing affordability, housing starts, NAHB, Primary Mortgage Market Survey, private money, real estate investing, Securities and Exchange Commission, the norris group, trulia, trust deeds, Wells Fargo Housing Opportunity Index