Today’s News Synopsis:
According to the latest 2012 Home Buyer/Seller Satisfaction Study released by J.D. Power and Associates, customers are less satisfied leading real estate brokerages to continue educating their clients and following up. Despite a decrease in consumer spending in the second quarter and impending fiscal cliff, housing continues to show positive signs and is leading to more optimism with Fannie Mae. The consumer credit default index decreased in July for the seventh month in a row.
In The News:
Housing Wire – “Housing recovery brightens Fannie Mae economic outlook” (8-21-12)
“Housing remains a bright spot in an economy where consumer spending dropped nearly a percentage point in the second quarter and a looming year-end fiscal cliff is haunting the financial markets, Fannie Mae’s Economic & Strategic Research Group said Tuesday.”
DS News – “Zillow: July Sees More Home Value Gains, Market to Cool in Fall” (8-21-12)
“Zillow released on Tuesday its Real Estate Market Reports for July, revealing that the company’s Home Value Index hit $151,600 for the month, a 0.5 percent gain from June and a 1.2 percent increase year-over-year.”
Los Angeles Times – “Consumer credit default index down in July for 7th straight month” (8-21-12)
“Americans continue to do a better job paying off their debts, with a leading index of defaults on mortgages, credit cards and auto loans dropping in July for the seventh straight month.”
Bloomberg – “Israeli Army Eases Housing Crisis With Vacated Bases: Mortgages” (8-21-12)
“Israel’s army, with bases spread over 39 percent of the country, plans to vacate properties for development into residences needed to ease a housing shortage.”
DS News – “LPS Announces Agreement with RentRange for Rental Market Data” (8-21-12)
“As interest in converting REOs to rentals continues to grow, Lender Processing Services, Inc. (LPS) announced an agreement with RentRange to offer rental property income data.”
Housing Wire – “FHA ‘concerned’ with eminent domain proposal” (8-21-12)
“The Federal Housing Administration may not be on board with proposals under consideration by some cities and counties to seize underwater mortgages through eminent domain and refinance them into government-backed loans.”
Inman – “Declining customer satisfaction a threat to repeat business” (8-21-12)
“With customer satisfaction among buyers and sellers alike slipping, real estate brokerages that want to win repeat business must keep their clients better informed, educating them on comparable sales information and following up with them after closings, J.D. Power and Associates said in releasing the results of its 2012 Home Buyer/Seller Satisfaction Study.”
DS News – “Best Medical Files Suit Against Wells Fargo Over Commercial Loans” (8-21-12)
“Wells Fargo faces litigation from Best Medical, Inc., part of Virginia-based TeamBest, which creates and distributes medical products and technology.”
Bloomberg – “Housing-Related Assets Attractive as Prices Bottom, Pimco Says” (8-21-12)
“Assets tied to U.S. housing are attractive with the real-estate market poised to reach a bottom, according to Pacific Investment Management Co.”
Hesperia, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $64,000 on a 3 bedroom, 2 bathroom home appraised for $107,000.
Bruce Norris of The Norris Group will be at the Inland Empire Investors Forum Tuesday, August 28, 2012.
Bruce Norris of The Norris Group will be at the Los Angeles Commercial Real Estate Forum Thursday, August 30, 2012.
Bruce Norris of The Norris Group will be at the Real Estate Investment Expo in Santa Clara Saturday, September 8, 2012.
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 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.
Tags: bruce norris, consumer credit, credit default index, fannie mae, federal housing administration, Home Buyer/Seller Satisfaction Study, Home Value Index, Israel, J.D. Power and Associates, Lender Processing Services, Mortgage Resolution Partners, Pacific Investment Management, Real Estate Market Reports, RentRange, the norris group, Wells Fargo, zillow