Today’s News Synopsis:
Janet Yellen of the Federal Reserve said the economy stays as it is, we may see more rate hikes in the future. Fannie Mae sold more of its nonperforming loans off today, including those from their sixth Community Impact Pool. The latest census data from Pew Research showed millennials are moving around less than those in generations prior to them.
In The News:
DS News – “Not all Materials are Created Equal” (2-14-2017)
“According to a report released on Monday, vacant and abandoned properties have a far-reaching toll on the communities they reside in—not only seeing lower property values but decreasing the values of neighboring homes as well.”
Fannie Mae – “Fannie Mae Announces Sale of Non-Performing Loans” (2-14-2017)
“Fannie Mae (FNMA/OTC) today announced its latest sale of non-performing loans, including the company’s sixth Community Impact Pool.”
“San Francisco and San Jose, Calif. top Zillow’s list of the best markets for sellers. Buyers in Baltimore and Miami will have the most negotiating power when shopping for a home, according to the latest Zillow® analysis.”
Bloomberg – “Yellen Sees More Rate Hikes Ahead If Economy Stays on Course” (2-14-2017)
“Federal Reserve Chair Janet Yellen said more interest-rate increases will be appropriate if the U.S. economy meets the central bank’s outlook of gradually rising inflation and tightening labor markets.”
“Dr. Gehad Masri wanted to help his eldest son fulfill the dream of becoming a doctor, just like him — and he was willing to spend half a million dollars to do it.”
Freddie Mac – “Freddie Mac Announces Release Date for Fourth Quarter and Full-Year 2016 Financial Results” (2-14-2017)
“Freddie Mac (OTCQB: FMCC) announced today that it plans to report its fourth quarter and full-year 2016 financial results before the U.S. financial markets open on Thursday, Feb. 16, 2017.”
Bloomberg – “When It Comes to Moving, Millennials Are Stuck in the Mud” (2-14-2017)
“Fairly or not, the millennial generation has a reputation as footloose and fancy-free. Or, to put it less kindly, slow to launch—slower to get married, buy a house, and have kids than the young people of previous generations.”
DS News – “Subprime Borrowers Face Lending Obstacles” (2-14-2017)
“The denial rate for lower-credit mortgage applicants is higher than generally accepted, according to a new report by the Urban Institute released Tuesday.”
Bloomberg – “Airbnb Wants to Spend Some of the $3 Billion It’s Sitting On” (2-14-2017)
“Airbnb Inc. is on a mission to be more than a home-sharing platform. It wants to be a flight booker, an itinerary planner and a vacation-home manager.”
Hard Money Loan Closed
Fontana, California hard money loan closed. Real estate investor received loan for $238,000 on this single family property appraised for $390,000.
Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor with Alpine Premier Investments on Wednesday, February 15.
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.
Image copyright source: www.flickr.com/photos/mrzebra
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: Airbnb, bruce norris, fannie mae, Federal Reserve, hard money, Hard money lender, Janet Yellen, millennials, non-performing loans, private money, real estate investing, Subprime Borrower, the norris group, trust deeds, Urban Institute