More Startup Companies Hope To Help Landlords By Converting Empty Apartment Units into Hotel Rooms

Today’s News Synopsis:

The Mortgage Bankers Association reported mortgage applications decreased drastically by 7.4% with the increase in interest rates.  JPMorgan Chase just had over 1 million home equity and private banking loans converted by Black Knight Financial into their LoanSphere system.  More startup companies are hoping to help apartment landlords by converting empty apartment units into hotel rooms.

In The News:

CNBC “Higher interest rates send mortgage applications tanking, down 7.4%” (7-12-2017)

“Mortgage rates just saw their biggest jump since the presidential election, and that took a heavy toll on demand for home loans.  Total mortgage application volume fell 7.4 percent last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted report. Volume was 36 percent lower than a year ago.”

Black Knight Financial Services – “Black Knight Successfully Converts More than 1 Million Home Equity and Private Banking Loans to LoanSphere MSP Servicing System for JPMorgan Chase” (7-12-2017)

“Black Knight Financial Services, Inc. (NYSE: BKFS), a leading provider of integrated technology, data and analytics to the mortgage and real estate industries, announced today that it has completed the conversion of more than 1 million home equity and private banking loans onto Black Knight’s advanced LoanSphere MSP servicing system for JPMorgan Chase, a leading global financial services firm.”

Realtor.com – “Startups Help Landlords Turn Apartments Into Hotel Rooms” (7-12-2017)

“A handful of startups are betting they can help apartment-building owners convert empty units into hotel rooms, a controversial practice that could help landlords generate more revenue.”

Bloomberg – “Yellen’s Take on Inflation Shifts Subtly in Remarks to Congress” (7-12-2017)

“Federal Reserve Chair Janet Yellen on Wednesday altered the language she used to describe recent softness in inflation, expressing deeper concerns over how persistent that weakness may prove.”

CNBC – “Fast ways to cut your home energy bills” (7-12-2017)

“Cutting your energy bill doesn’t have to require much energy — or money — on your part.  Consumers aren’t taking advantage of many simple avenues to save money, according to a new survey from marketplace SaveonEnergy.com.”

Realtor.com – “7 Blazing-Hot Landscaping Trends That You Can Tap Into This Summer” (7-12-2017)

“Balancing trendy touches with classic appeal can be tricky in your home and even trickier in your outdoor spaces. After all, you can always repaint a wall, but no one wants to tear up their entire hedge every year.”

GeekWire “Zillow shares slump as Amazon webpage hints at expansion into real estate referrals” (7-12-2017)

“Investors get nervous every time a certain Seattle-based e-commerce giant eyes a new market and this time Zillow is the victim of Wall Street’s Amazon anxiety.”

AZBigMedia “What are the Top 10 Issues Affecting Real Estate?” (7-12-2017)

The polarization of politics and global uncertainty are expected to be among the Top 10 Issues Affecting Real Estate and have a significant impact on commercial real estate in Arizona and in the U.S. in the near-and long-term.”

 

Bruce Norris will be presenting his latest talk 10 Life-Changing Days of a Real Estate Investor with InvestClub for Women on Wednesday, August 16.

Bruce Norris will be presenting his latest talk 10 Life-Changing Days of a Real Estate Investor with SJREI on Thursday, September 14.

Bruce Norris will be presenting Cashing In On A Boom up in San Jose on Saturday, September 16.

Looking Back:

Building lots for single-family homes were shown to be at their lowest on record at 8,600 square feet.  Corelogic reported foreclosures and serious delinquencies were at their lowest since 2007 with foreclosures around 390,000.  More and more people were moving out of negative equity as prices continued to increase.

 

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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