Realtor.com Releases List of Top Ten Cities for New College Graduates

Today’s News Synopsis:

The NAHB reported an increase in builder confidence, having increased two points to 70 this month.  Realtor.com released their latest list of top ten cities when new college graduates should go for the most affordable housing and best job markets.  The Mortgage Bankers Association reported a 4.3% decrease in home purchase applications for the month of April.

In The News:

New York Times – “Real Estate’s New Normal: Homeowners Staying Put” (5-14-2017)

“For much of last year, Greg Rubin was looking to buy a bigger house. He has been in the same two-bedroom home for 17 years and hoped to upgrade to a place with a guest room, a home office and a workshop for his guitars, radio-controlled planes and gardening equipment.”

NAHB – “Builder Confidence Continues on Upward Trend” (5-15-2017)

“In a further sign that the housing market continues to strengthen, builder confidence in the market for newly-built single-family homes rose two points in May to a level of 70 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the second highest HMI reading since the downturn.”

Realtor.com “Diplomas in Hand, College Grads Should Flock to These 10 Cities” (5-15-2017)

“Late spring brings way more than just May flowers, crawfish season, pollen season, and the hallowed calling in sick on warm Mondays season. It also brings hordes of college grads—newly minted, freshly attired, all eagerly searching for cool gigs and great places to begin their life journey in earnest.”

CNBC – “Hotel operator La Quinta prepares to explore sale; shares jump 13%” (5-15-2017)

“North American budget hotel chain La Quinta Holdings is preparing to explore a sale of the company, hoping for a high valuation as it seeks to spin off its real estate assets, people familiar with the matter said on Monday.”

Mortgage Bankers Association – “April New Home Purchase Mortgage Applications Drop 4.3 Percent Year over Year” (5-15-2017)

“The Mortgage Bankers Association (MBA) Builder Applications Survey (BAS) data for April 2017 shows mortgage applications for new home purchases decreased 4.3 percent compared to April 2016.”

DS News – “Supreme Court: Late Bankruptcy Claims Not Subject to FDCPA Lawsuits” (5-15-2017)

“In a decision on Monday, the Supreme Court ruled that under the Fair Debt Collection Practices Act (FDCPA), debt collectors that knowingly pursue stale debt in bankruptcy proceedings do not run the risk of facing potential consumer protection lawsuits, Law360 reports.”

Realtor.com “Think Home Prices Are High Now?  Why They’re Likely to Keep Going Up” (5-15-2017)

“Buyers might want to sit down for this: Homes flew off the market like the hottest of hotcakes in the first quarter of the year—causing prices to rise even higher than predicted in many parts of the nation.”

 

Hard Money Loan Closed

Palm Springs, California hard money loan closed. Real estate investor received loan for $180,000 on this single family property appraised for $325,000.

Palm Springs 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.

 

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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