Today’s News Synopsis:
New data released shows the hottest spots for real estate in New York, specifically Brooklyn and Manhattan. More and more Russians are showing an interest in real estate located in New York City. Realtor.com also released a list of cities where downtown is becoming a popular place to live.
In The News:
“The never-ending quest for the perfect apartment in New York City could be getting that much tougher, new data suggests, thanks to new competition for scarce supply from other parts of the world—and one surprising country in particular.”
Bloomberg – “Wells Fargo Card Applications Drop by Most Since Scandal Erupted” (3-20-2017)
“Wells Fargo & Co. said credit-card applications dropped 55 percent in February from a year earlier, the biggest decline since a scandal involving fake accounts erupted in September.”
DS News – “More Consumers Seek Loan Modification” (3-20-2017)
“In January 2017, an estimated 29,000 homeowners received permanent loan modifications from mortgage servicers during the month according to HOPE NOW, a non-profit alliance of mortgage servicers, investors, counselors, and other mortgage market participants.”
Realtor.com – “Top 10 Cities Where Downtown Is Making a Comeback” (3-20-2017)
“In some respects, “downtown” is a uniquely American invention—considered by die-hard urbanites to be as much a state of mind as a physical location.”
NAHB Now – “Home Appraisals to Include HERS Scores” (3-20-2017)
“A new partnership between the Residential Energy Services Network (RESNET) and the Appraisal Institute plans to include Home Energy Rating System (HERS) scores in appraisals.”
Freddie Mac – “Freddie Mac Forgoes Issuing a Reference Notes Security on its March 20, 2017 Announcement Date” (3-20-2017)
“Freddie Mac (OTCQB: FMCC) announced today that it will forgo issuing a Reference Notes® security on its March 20, 2017 announcement date. The company’s 2017 Reference Notes calendar [PDF] designates dates that it may use to announce the issuance of Reference Notes securities.”
Bloomberg – “Manhattan & Brooklyn Real Estate Hot Spots” (3-20-2017)
“A few blocks may make all the difference in the price you pay for a home in Manhattan and Brooklyn. Our map, which updates quarterly, shows how values vary by neighborhood, what kinds of deals buyers are negotiating or even whether it makes more sense to rent.”
CNBC – “Why your flipped house might actually be a flop house” (3-20-2017)
“House flipping is hot again, with investors flipping property at the fastest pace in a decade. Yet behind their walls, that picture-perfect dream home could conceal a nightmare.”
NAHB Now – “Builders Rank the Most, Least Popular Green Practices” (3-20-2017)
“You can hype a new home’s hardwood floors and extra storage until you’re blue in the face. But you won’t get nearly the kind of foot traffic as those who tout a home’s green features.”
Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor with LA South REIA on Monday, April 10.
Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor with Pasadena FIBI on Thursday, April 20.
Bruce Norris will be speaking at the AOA “Million Dollar” Trade Show & Landlording Conference in Long Beach on Wednesday, May 24.
Image copyright source: www.realtor.com
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: Appraisal Institute, bruce norris, freddie mac, hard money, Hard money lender, Home Energy Rating System, Hope Now, private money, real estate investing, Reference Notes, RESNET, the norris group, trust deeds, Wells Fargo