Sale of $100 Million + Homes Hits Record

Today’s News Synopsis:

The sale of $100 million + homes hit a record last year with 10 homes sold and values reaching more than $1.4 billion.  The Mortgage Bankers Association reported a 2.4% increase in mortgage applications.  Tesla’s solar roof tiles are expected to be ready by this summer as they have already begun taking orders.

In The News:

CoreLogic – “Reso Now Awards CoreLogic Trestle Clients Gold Certification” (5-10-2017)

“CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, announced today that the Real Estate Standards Organization (RESO) now awards Gold certification to Trestle clients applying for data dictionary certification.”

CNBC “Property developer Five Point spikes as much as 10% on its first day of trading” (5-10-2017)

“Shares of Five Point, a California real-estate developer backed by the nation’s second-biggest homebuilder, soared on their debut on the New York Stock Exchange on Wednesday.”

Bloomberg – “Tesla’s Solar Roof Is Finally Ready For You to Buy” (5-10-2017)

“Tesla is opening up its online store for its solar roof tiles Wednesday, Elon Musk said in a message on Twitter. More details—presumably including pricing—will be disclosed shortly.”

Mortgage Bankers Association – “Mortgage Applications Increase in Latest MBA Weekly Survey” (5-10-2017)

“Mortgage applications increased 2.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 5, 2017.”

CNBC – “$100 million homes sales hit record, with values sold topping $1.4 billion” (5-10-2017)

“Sales of $100 million homes hit a record last year, although a growing number are piling up unsold in 2017, according to a new report.”

Commercial Observer“Is Commercial Real Estate Prepared for a Cyberattack?” (5-10-2017)

“Many people don’t think of commercial real estate when they think about cyberattacks. But they should. A cyberattack can come from almost anywhere, including internet-based building management systems, third-party vendors, SaaS applications and employee’s use of personal devices to access company applications and data.”



Hard Money Loan Closed

Lancaster, California hard money loan closed. Real estate investor received loan for $135,000 on this single family property appraised for $210,000.

Lancaster 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.


Looking Back:

Freddie Mac reported a decrease in mortgage repurchases by 95% since their peak in 2010.  87% of metropolitan areas saw an increase in home prices in the first quarter.  More and more people with distressed properties were choosing to keep their homes rather than file foreclosure.


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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