California Real Estate Headline Roundup

Posts Tagged ‘Ben Bernanke’

By Bruce Norris .

The Norris Group Real Estate News Roundup 3/3/14

Monday, March 3rd, 2014


Today’s News Synopsis:

Another bank closed in Virginia, bringing the new total for closed banks in 2014 now to four.  The percentage of homeowners underwater is below 20%, the lowest in several years according to Zillow.  The most recent report from Keefe, Bruyette & Woods showed residential loans decreased by $10.2 billion the week ending February 19, a bad start for the first quarter.

In The News:

Bloomberg“TARP Funds Demolish Homes in Detroit to Lift Prices: Mortgages” (3-2-14)

“In Flint, once a thriving auto-industry hub, excavators with long metal arms and shovels have begun tearing down 1,500 dilapidated homes in an attempt to lift the housing market.”

DS News“Virginia Bank Closed, Fourth Collapse of 2014″ (3-3-14)

“The Federal Deposit Insurance Corporation (FDIC) announced Friday in a press release the closing of Millennium Bank, National Association of Sterling, Virginia.”

Housing Wire“What’s happening with residential loans this quarter?” (3-3-14)

“Residential loans are off to a weak start in the first quarter, with real estate loans down a full $10.2 billion for the week ending Feb. 19, according to the latest weekly report from Keefe, Bruyette & Woods.”

Mortgage Professional America - “Percentage of underwater homes at lowest level in years” (3-3-14)

“The share of US homeowners with underwater mortgages has dropped below 20% for the first time in years, according to data released by Zillow.”

Housing Wire“The 4 secrets why Texas leads in new home sales” (3-3-14)

“A new law in Pennsylvania requires that delinquent taxes on one property will create liens on all of owners’ other properties in that county, and real estate agents and lenders are worried it will put a kibbosh on business.”

Inman - “Tax overhaul plan has something for everyone to hate” (3-3-14)

“One of the two principal figures in charge of rewriting the nation’s income tax laws is Republican Dave Camp of Michigan, chairman of the all-powerful House Ways and Means Committee.”

DS News - “Special Servicers Benefit from HARP; Future Uncertain” (3-3-14)

“Three special servicers—Nationstar, Ocwen, and Walter Investment Corp.—released their fourth-quarter and year-end earnings reports with revenue increases and increasingly active originations sectors.”

Housing Wire“PNC under investigation for FHA, Fannie, Freddie mortgages” (3-3-14)

“PNC (PNC) received subpoenas from the U.S. Attorney’s Office for the Southern District of New York, regarding alleged faulty lending practices, the company said in a regulatory filing.”

Bloomberg“Yellen Tames Bond Traders With Volatility to Pre-Taper Level” (3-3-14)

“When it comes to monetary policy, Federal Reserve Chair Janet Yellen is doing all she can to ensure there’s little difference between herself and Ben S. Bernanke. The bond market is taking notice.”

Hard Money Loan Closed

Compton, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $164,000 on a 3 bedroom, 1 bathroom home appraised for $273,000.

Los Angeles Hard Money Loan closed by the Norris Group

 

Bruce Norris of The Norris Group will be giving a California Real Estate Market update with IVAR on Wednesday, March 5, 2014.

Bruce Norris of The Norris Group will be presenting his newest talk Secrets to Becoming Wealthy with NorcalREIA on Wednesday, March 12, 2014.

Bruce Norris of The Norris Group will be presenting his newest talk Secrets to Becoming Wealthy with OCREIA on Thursday, March 13, 2014.

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.

The Norris Group Real Estate News Roundup 2/3/14

Monday, February 3rd, 2014

Today’s News Synopsis:

Originations for commercial and multifamily mortgages increased 34% and are now at their highest in 7 years.  Although Ben Bernanke’s term ended with the Federal Reserve this past weekend, he is now a Distinguished Fellow in Residence for the Brookings Institution.  Foreclosures and mortgage delinquencies showed signs of improvement after having decreased for the fourth year in a row and now stand at 6.47%.

In The News:

DS News - “Fannie Mae’s Book Shrinks as New Business Falls” (2-3-14)

“Fannie Mae’s book of business shrank in December, ending a short streak of growth and marking the eighth month of 2013 in which business slowed.”

Housing Wire“Bernanke couldn’t stay away for long” (2-3-14)

“Former Federal Reserve Chairman Ben Bernanke completed his last Federal Open Market Committee Meeting Last Wednesday, but he didn’t step away from desk for long.”

Bloomberg - “Mortgage-Deal Spoils Divide State Winners From Losers” (2-3-14)

“Hundreds of millions of dollars in mortgage-fraud settlements from JPMorgan Chase & Co. and other banks are providing a windfall to state attorneys general — and creating a new class of political winners and losers.”

Inman - “The X factor in the buy vs. rent equation: How long will you stay?” (2-3-14)

“A home is the biggest purchase many people will ever make, and because home values can move abruptly in either direction, homebuyers are often advised to think of a prospective home primarily as a place.”

Housing Wire - “Delinquent mortgages heal 4 years straight” (2-3-14)

“The market continued to show significant, sustained improvement in the nation’s inventory of delinquent mortgages for the fourth consecutive year in a row in 2013, along with recording the second consecutive year of significant improvement for those in foreclosure, the latest Black Knight Financial Services report found.”

Mortgage Bankers Association - “Q4 Commercial and Multifamily Mortgage Originations Highest Since 2007″ (2-3-14)

“Commercial and multifamily mortgage originations increased 34 percent between the third and the fourth quarters of 2013, and were up 16 percent compared to the fourth quarter of 2012, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers’ Originations.”

Housing Wire - “Good news for mortgage bonds means good news for homebuyers” (2-3-14)

“A surge in Fannie Mae, Freddie Mac and Ginne Mae agency mortgage bonds the last week of January may be what’s driving down the cost of mortgages this week.”

Hard Money Loan Closed

Desert Hot Springs, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $65,000 on a 4 bedroom, 2 bathroom home appraised for $109,500.

 

Bruce Norris of The Norris Group will be presenting his Norris Group Property Buying Boot Camp in Riverside Tuesday through Thursday, February 4-6, 2014.

Bruce Norris of The Norris Group will be presenting his newest talk Secrets to Becoming Wealthy with OC FIBI Tuesday, February 4, 2014.

Bruce Norris of The Norris Group will be presenting his newest talk Secrets to Becoming Wealthy with OCREIA on Thursday, March 13, 2014.

 

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.

The Norris Group Real Estate News Roundup 1/29/14

Wednesday, January 29th, 2014


Today’s News Synopsis:

The Mortgage Bankers Association reported a decrease in mortgage applications by 0.2%.  The amount of foreclosure inventory decreased by 31% according to the latest report from CoreLogic.  Federal Reserve Chairman Ben Bernanke’s term will be up in two days, but  the decisions he made will likely not be repeated again.

In The News:

Housing Wire- “Don’t look now: Fannie, Freddie, Ginnie bonds are on a roll” (1-29-14)

“While the Federal Reserve continues to reduce holdings of mortgage-backed securities and Treasurys, the mortgage bond market is reacting well. Very well.”

Bloomberg“Bernanke’s Unprecedented Rescue Unlikely to Be Repeated” (1-29-14)

“As Federal Reserve Chairman Ben S. Bernanke shuts the door to his office for a final time in two days, he can say he took actions that were the first or the biggest of their kind in the central bank’s 100-year history.”

Mortgage Bankers Association - “Mortgage Applications Essentially Flat in Latest MBA Weekly Survey” (1-29-14)

“Mortgage applications decreased 0.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 24, 2014.”

Housing Wire- “SEC charges Western Asset Management for mortgage-related trades” (1-29-14)

“In the midst of the financial crisis, investment advisory firm Western Asset Management, a subsidiary of Legg Mason, engaged in the cross-selling of mortgage-backed securities, the Securities and Exchange Commission and the Special Inspector General for the Troubled Asset Relief Program claim in a report released Wednesday.”

DS News- “Foreclosure Inventory Down 31% in 2013, Slow Progress Expected in 2014″ (1-29-14)

“National foreclosure inventory fell 31 percent year-over-year in December, with 2.1 percent of all homes with a mortgage in some stage of foreclosure, according to CoreLogic’s December National Foreclosure Report.”

Bloomberg“Goldman Sachs Said to Lead American Homes 4 Rent Bond Deal” (1-29-14)

“American Homes 4 Rent, the second-largest single-family landlord in the U.S., has selected Goldman Sachs Group Inc. to arrange a bond backed by rental home payments, less than three months after Blackstone Group LP (BX) completed the first sale of its type.”

Housing Wire- “PHH charged over mortgage insurance kickbacks” (1-29-14)

“The Consumer Financial Protection Bureau initiated an administrative proceeding against PHH Corp. and its affiliates for allegedly harming consumers through a mortgage insurance kickback scheme that started as early as 1995 in its latest enforcement action.”

Hard Money Loan Closed

Highland, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $150,000 on a 4 bedroom, 3 bathroom home appraised for $358,000.

 

Bruce Norris of The Norris Group will be speaking at the CMA 2014 Winter Seminar in Universal City TOMORROW.

Bruce Norris of The Norris Group will be speaking at the 2014 Real Estate and Tax Strategies Kick-Off Brunch in Buena Park on Saturday, February 1, 2014.

Bruce Norris of The Norris Group will be presenting his Norris Group Property Buying Boot Camp in Riverside Tuesday through Thursday, February 4-6, 2014.

Looking Back:

Vacancies of homes declined in the fourth quarter.  Rentals declined to 8.7% while owner-occupied homes decreased to 1.9%.  Mortgage rates decreased slightly the previous month to 3.29% according to the Federal Housing Finance Agency.  Housing starts showed the biggest gain in Las Vegas, the same city hit hardest by the real estate crash.

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.

The Norris Group Real Estate News Roundup 1/6/14

Monday, January 6th, 2014

 


Today’s News Synopsis:

Two confirmations were made today regarding leaders in government positions: Janet Yellen was confirmed as chair of the Federal Reserve, and Mel Watts was confirmed as director of the FHFA.  In the analogy of the tortoise and the hare, markets that are showing a higher growth rate are the very markets hit hardest by the downturn in the housing market.  This has lead Clear Capital to expect home prices to not increase by too much at only around 3.4%.

In The News:

Mortgage Professional America - “Fewer agents think it’s a good time to sell’” (1-6-14)

“The number of real estate agents who think it’s a good time to sell has fallen in a new survey.”

Housing Wire- “Rep. Mel Watt officially confirmed as FHFA director” (1-6-14)

“After much delay, Rep. Mel Watt, D-N.C., was officially sworn in as the first Senate-confirmed director of the Federal Housing Finance Agency Monday.”

DS News- “Homes’ Days-on-Market Remain Low in November” (1-6-14)

“Following a post-summer slowdown in the market, homebuyers across the nation put a little more force on the accelerator in November.”

Bloomberg“Central Banks Split on Stimulus in 2014 as Fed Tapers” (1-6-14)

“The united stimulus front of central banks is starting to splinter as 2014 dawns.  The Federal Reserve — soon to be led by Janet Yellen, confirmed today by the Senate as the next chairman — begins pulling back on its quantitative easing amid stronger U.S. growth, and the Bank of England is trying to cool its housing market.”

Housing Wire - “QM rollout to bring a no risk, no reward type of environment” (1-6-14)

“The qualified mortgage definition that’s linked to the  ability-to-repay rule doesn’t kill lending outside the QM definition, but it does create a no-risk, no-reward type of mortgage environment, says James Frischling, president of NewOak Capital.”

DS News - “Are “Tortoise” Markets Beating “Hares” in Home Price Recovery?” (1-6-14)

“After observing a “first in first out” recovery over the past year in which markets hardest hit during the housing downturn experienced the fastest-paced growth in the recovery, Clear Capital now examines whether the housing market in fact follows the allegory of ‘The Tortoise and the Hare’.”

CNN Money - “Senate confirms Yellen as Fed Chair” (1-6-14)

“The U.S. Senate has confirmed Janet Yellen to serve as the next chair of the Federal Reserve, after Ben Bernanke finished his second term at the end of the month.”

Housing Wire - “What to watch out for in the 2014 MBS market” (1-6-14)

“The year ahead remains murky for investors even as the Qualified Mortgage (QM) rule takes effect and the Qualified Residential Mortgage (QRM) is hammered out, but there are signs of optimism for normalization.”

Hard Money Loan Closed

Riverside, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $155,000 on a 3 bedroom, 2 bathroom home appraised for $230,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Secrets to Becoming Wealthy with Prosperity Through Real Estate on TOMORROW, January 7, 2014.

Bruce Norris of The Norris Group will be presenting his newest talk Secrets to Becoming Wealthy with the Apartment Owners Association on Thursday, January 9, 2014.

Bruce Norris of The Norris Group will be presenting his newest talk Secrets to Becoming Wealthy with Coachella Valley on Tuesday, January 14, 2014.

Bruce Norris of The Norris Group will be presenting his newest talk Secrets to Becoming Wealthy with the Apartment Owners Association in Buena Park on Thursday, January 16, 2014.

 

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.

The Norris Group Real Estate News Roundup 1/3/14

Friday, January 3rd, 2014

Sources:

GSEs Reach Foreclosure Prevention Milestone
Home prices see biggest gain in eight years, but boom abating


Today’s News Synopsis:

This week’s video is a slideshow of the news of the week.  Alternative methods are currently being looked at by lenders and borrowers regarding new lending decisions.  A computer glitch in PNC Bank’s system over charged customers double what it was supposed to, a problem expected to be fixed this weekend.

In The News:

CNN Money - “Bernanke: Recovery ‘remains incomplete’” (1-3-14)

“His peers credit him with mitigating the deepest recession since the Great Depression, but with less than a month to go until his term ends, Ben Bernanke is hesitant to call his eight years as Federal Reserve Chairman a slam-dunk success.”

Housing Wire- “Lenders search for plan B” (1-3-14)

“Lenders and borrowers are looking to other avenues of borrowing as mortgage rates continue to rise and competition heightens among financial institutions.”

DS News- “Alternate Home Price Index Records Weaker Gains” (1-3-14)

“While the S&P Case-Shiller Home Price Indices for October showed a significant 13.6 percent year-over-year leap, other measures saw more subdued gains for the month.”

Housing Wire“Fidelity expected to ramp up LPS data operations” (1-3-14)

“Fidelity National Financial (FNFclosed the $2.9 billion acquisition of Lender Processing Services Thursday within the timeline and expectations of analysts who cover the space.”

DS News - “MERS Found Not Liable in Arkansas Suit” (1-3-14)

“MERSCORP Holdings was once again absolved from legal misconduct according to a release issued by the company. The Virginia-based company announced on Friday that the 8th Circuit U.S. Court of Appeals ruled on December 31, 2013 in Mayme Brown v. Mortgage Electronic Registration Systems, Inc, (MERS) affirming the U.S. District Court’s dismissing all of the Clerk’s claims against MERS.”

Housing Wire- “Hercules causing t-t-trouble for p-p-p-property managers” (1-3-14)

“Winter Storm Hercules is aptly named not just for its destructive power but also the number of nigh impossible labors that will come with cleaning up its icy mess.”

DS News- “Realtors’ Confidence in Market Tempered by Credit Access Concerns” (1-3-14)

“Realtors expressed overall confidence in the market tempered by concerns regarding credit availability, according to the latest Realtors Confidence Index from the National Association of Realtors (NAR).”

Housing Wire - “PNC fixing glitch that double-charged mortgage customers” (1-3-14)

“PNC Bank (PNC) confirmed a computer glitch caused an payment processing error for some of its loan customers.”

Hard Money Loan Closed

San Bernardino, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $42,000 on a 1 bedroom, 2 bathroom home appraised for $70,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Secrets to Becoming Wealthy with Prosperity Through Real Estate on Tuesday, January 7, 2014.

Bruce Norris of The Norris Group will be presenting his newest talk Secrets to Becoming Wealthy with the Apartment Owners Association on Thursday, January 9, 2014.

Bruce Norris of The Norris Group will be presenting his newest talk Secrets to Becoming Wealthy with Coachella Valley on Tuesday, January 14, 2014.

Bruce Norris of The Norris Group will be presenting his newest talk Secrets to Becoming Wealthy with the Apartment Owners Association in Buena Park on Thursday, January 16, 2014.

Looking Back:

The number of foreclosures completed in November was 55,000, down 18% year-over-year.  The Mortgage Bankers Association reported a 21.6% decrease in mortgage applications for the week ending December 28.  First-time jobless claims increased by 10,000 and were at 372,000 according to the Labor Department.

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.

The Norris Group Real Estate News Roundup 9/17/13

Tuesday, September 17th, 2013

Today’s News Synopsis:

In an updated on the Richmond eminent domain case, a federal district judge rejected a move by Wells Fargo to prevent the plan from taking place.  In other news, home builder confidence remains static at 58 after having seen four straight months of increase.  Although the housing market seemed to show signs of improving, newly released data has caused analysts to now question the state of improvement.


In The News:

Mortgage Professional America“Family averts foreclosure from under-fire servicer” (9-17-13)

“A California family is staying in its home after a local TV station’s investigation demonstrated that they had been illegally foreclosed on by a company that’s been under scrutiny for hasty foreclosures before.”

Housing Wire“Puzzling economic data challenges the housing recovery” (9-17-13)

“Although economic activity in the second quarter surprised analysts, with the economy growing at a 2.5% annualized rate, this momentum could be subdued by several major headwinds ahead.”

NAHB“Builder Confidence Unchanged in September” (9-17-13)

Following four consecutive months of improvement, builder confidence in the market for newly built, single-family homes held unchanged in September with a reading of 58 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today.”

Bloomberg“Less Tapering Becomes Tighter Credit No Matter What Fed Says” (9-17-13)

“Federal Reserve Chairman Ben S. Bernanke sent bond yields a percentage point higher just by talking about adding stimulus at a slower pace. The rout serves as a warning to monetary policy makers that their exit from record accommodation won’t be easy to control.”

CNN Money“Bank stocks have roared back to life” (9-17-13)

“Bank stocks were battered in the wake of the Lehman Brothers collapse five years ago, but investors have since embraced many of Wall Street’s Too Big to Fail club.”

DS News“Genworth Expands Simply Underwrite Program” (9-17-13)

“Genworth U.S. Mortgage Insurance (USMI) announced Monday that it will reduce rates and expand its Simply Underwrite program, which simplifies the underwriting process for customers that deliver loans through the automated underwriting systems of the GSEs.”

Inman“Why hasn’t inventory shortage fueled more home construction” (9-17-13)

“Ever wondered why, in the face of a sharp inventory shortage, new home construction still lags so far behind other housing indicators?”

Housing Wire“Judge refuses injunction request in eminent domain case” (9-17-13)

“A federal district judge shut the door on Wells Fargo’s(WFC) attempt to prevent the rollout of a controversial eminent domain rescue plan for underwater borrowers in Richmond, Calif.”

 

Hard Money Loan Closed

Los Angeles, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $264,000 on a 2 bedroom, 1.5 bathroom home appraised for $406,000.

 

Bruce Norris will be presenting InvestClub for Women Poised to Pop on Tuesday, September 17, 2013.

Bruce Norris will be presenting InvestClub for Women Poised to Pop in Orange County on Wednesday, September 18, 2013.

Bruce Norris will be presenting Robert Hall & Associates Poised to Pop on Thursday, September 19, 2013

On Friday, October 18, Bruce Norris will be presenting the 6th annual I Survived Real Estate

Looking Back:

After weeks of no closures, another bank closed in Missouri the previous Friday, bringing the new total to 42.  Home prices in California increased 2.3% the previous month to their highest in four years and for the fifth month in a row.  However, month-over-month prices decreased 3.4% from July.  The number of improving markets was at 99 at this time last year.

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.

The Norris Group Real Estate News Roundup 7/10/13

Wednesday, July 10th, 2013

Today’s News Synopsis:

According to a recent survey, the demographic most likely to buy homes that were recently foreclosed on are the younger homebuyers.  Mortgage applications decreased agains this past week by 4%.  Distressed properties also decreased in May.

In The News:

Housing Wire“Bernanke defends QE3, hints tapering is imminent” (7-10-13)

“In a speech on Wednesday, Federal Reserve Chairman Ben Bernanke addressed that the Fed’s actions are not static and will continue to change with the environment.”

DS News“Housing Group Files Suit Against FHFA” (7-10-13)

“The Federal Housing Finance Agency (FHFA) and its acting director, Edward DeMarco, are facing a lawsuit from a housing group for allegedly failing to uphold the GSEs’ obligations to make contributions to a housing trust fund.”

Mortgage Bankers Association - “Mortgage Applications Decrease in Latest MBA Weekly Survey” (7-10-13)

“Mortgage applications decreased 4.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 5, 2013.”

Bloomberg“REITs Deepening Bond Losses as Leverage Forces Sales” (7-10-13)

“Annaly Capital Management Inc. (NLY)’s Wellington Denahan, head of the largest mortgage real-estate investment trust, told investors less than three months ago that reports REITs could threaten U.S. financial stability were as misleading as the media frenzy over shark attacks in 2001.”

CNN Money“About half of Fed officials expect QE3 to end this year” (7-10-13)

“Federal Reserve officials are split on when to end the central bank’s controversial bond-buying program, according to minutes from a June meeting, released Wednesday.”

Mortgage Professional America“Distressed properties down again” (7-10-13)

“The number of homes in foreclosure is down again in May, according a recent report.”

Housing Wire“Fed attempts to free higher-priced loans from appraisal binds” (7-10-13)

“A proposed rule was issued by six federal financial regulatory agencies that would create exemptions from specific appraisal requirements for a subset of higher-priced mortgages.”

DS News“Survey: Young Buyer More Likely to Consider Foreclosed Homes” (7-10-13)

“Younger homebuyers are far more open to the idea of buying a foreclosure compared to older buyers, a National Association of Realtors (NAR) survey on buyer and seller trends revealed.”

Hard Money Loan Closed

Riverside, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $142,000 on a 3 bedroom, 2 bathroom home appraised for $205,000.

 

 

Bruce Norris of The Norris Group will be speaking at California Comeback 2: Fast, Furious, and Dangerous in Ontario on Saturday, July 13, 2013.

Bruce Norris of The Norris Group will be holding their Distressed Property Bootcamp Tuesday-Thursday, July 16-18, 2013.

Bruce Norris of The Norris Group will be speaking at SJREI Poised to Pop Thursday, September 5, 2013.

Looking Back:

Clear Capital reported home prices increased across all four regions of the United States in June 2012, both for the quarter and the year.  Governor Jerry Brown signed a new law into legislation that would not let homeowners be liable for debts greater than the value of their properties should they default on their mortgages.  The asking prices on homes for sale increased in the previous four months, although this was actually a risk because the ones who had the most to gain from the market also had a record of foreclosures.

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.

The Norris Group Real Estate News Roundup 6/24/13

Monday, June 24th, 2013


Today’s News Synopsis:

According to the Lender Processing Services, home prices increased in every one of the largest states in the U.S, having gone up 1.5%.  Homes sold to foreign buyers decreased by 17% and now stand at $68.2 billion.  This news comes with the slowdown in the economy in both Europe and Asia.  Last month also saw a a decrease in investor activity according to the Campbell/Inside Mortgage Finance HousingPulse Tracking survey.

In The News:

CNN Money - “2014: When the economy finally takes off” (6-24-13)

“When will America’s economy finally start limping along?  2014.  That’s what a growing number of economists are predicting.”

Housing Wire“LPS: US home prices continue to climb” (6-24-13)

“Every one of the 20 largest U.S. states experienced rising home prices from March to April with values edging up 1.5%, Lender Processing Services said Monday when releasing its U.S. Home Price Index.”

Bloomberg“Sales of U.S. Homes to Foregin Buyers Decline 17 Percent” (6-24-13)

“U.S. home purchases by international buyers fell 17 percent, to an estimated $68.2 billion, as economic growth slowed in Europe and Asia, the National Association of Realtors said.”

DS News - “Labor Shortage in Homebuilding Could Dampen Recovery” (6-24-13)

“Fitch has added its voice to the chorus of those concerned about homebuilding industry’s labor shortage and the effects it may have on new housing growth.”

Housing Wire“Supreme Court to hear case tangentially related to CFPB director post” (6-24-13)

“The U.S. Supreme Court agreed to review an appellate court case that invalidated several of President Obama’s recess appointments to the National Labor Relations Board.”

Bloomberg - “Fed Monetary Course Hard to Undo for Bernanke Successor: Economy” (6-24-13)

“The Federal Reserve under Chairman Ben S. Bernanke has committed itself to a monetary strategy for this year and beyond that will be difficult to undo under a new chairman.”

Housing Wire - “Fed hits investors with MBS game changer” (6-24-13)

“Ben Bernanke and the Federal Reserve seem a bit more hawkish about tapering the Fed’s bond-buying program — a development that would be a major game changer for securitized products.”

DS News - “Investor Activity Falls Sharply in May” (6-24-13)

“As prices rise, investors are having a harder time justifying housing market purchases, according to a recent Campbell/Inside Mortgage Finance HousingPulse Tracking survey.”

Hard Money Loan Closed

Temecula, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $175,000 on a 3 bedroom, 2 bathroom home appraised for $260,000.

 

Bruce Norris of The Norris Group will be speaking at California Comeback 2: Fast, Furious, and Dangerous in Ontario on Saturday, July 13, 2013.

Bruce Norris of The Norris Group will be holding their Distressed Property Bootcamp Tuesday-Thursday, July 16-18, 2013.

Bruce Norris of The Norris Group will be speaking at SJREI Poised to Pop Thursday, September 5, 2013.

 

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.

The Norris Group Real Estate News Roundup 6/21/13

Friday, June 21st, 2013



Sources:

Today’s News Synopsis:

Aaron Norris gives the news of the week in the world of real estate in this week’s video.  Hope Now reported 70,000 loan mods were finalized in April and are now at 6.39 million.  Banks are beginning to ease on guidelines for credit availability in order to help the market to recover.

In The News:

Bloomberg - “Housing Seen Shrugging Off Loan Rate Rise as Banks Loosen” (6-21-13)

“Fed Chairman Ben S. Bernanke said this week that the central bank may scale back its unprecedented stimulus program this year as the economy and housing improve, ending the era of record-low mortgage rates and marking the first test for the year-old housing recovery.”

CNN Money“‘Debt relief’ firms misleading student loan borrowers” (6-21-13)

“Firms offering student loan “debt relief” are deceiving borrowers into paying hundreds or even thousands of dollars for access to free government programs, according to a recent consumer watchdog report.”

Housing Wire“Hope Now: 70,000 home loan mods finalized in April” (6-21-13)

“Mortgage servicers modified 70,000 home loans in April, bringing the total to 6.39 million modifications since 2007, according to data from HOPE NOW.”

Inman - “Fed bungle may prompt higher mortgage rates” (6-21-13)

“The days are getting shorter now, football closer — at least the Fed can’t take that away from us. Given its fantastic bungling this week, it might try.”

DS News - “Survey: 60% of Homeowners Have Summer Plans for Improvement Project” (6-21-13)

“For homeowners who are stuck in their home due to negative equity or a lack of inventory, summer home improvement projects are way to make the most out of current surroundings, according to Seattle-based Zillow.”

Realty Times - “Supply-Demand Imbalance Weighs On National Home Price Growth” (6-21-13)

“Unsustainable home price growth doesn’t necessarily indicate a housing bubble is growing, but unless more homes to sell come to market soon, something’s got to give.”

Bloomberg - “Mortgage-Bond Yields Head Toward Largest Weekly Gain Since 2009″ (6-21-13)

“Yields on Fannie Mae and Freddie Mac mortgage bonds that guide U.S. home-loan rates headed toward the largest weekly increase in four years, extending a surge sparked by a potential slowing of the Federal Reserve’s debt buying.”

Hard Money Loan Closed

Orange, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $315,000 on a 3 bedroom, 2 bathroom home appraised for $602,000.

 

Bruce Norris of The Norris Group will be speaking at California Comeback 2: Fast, Furious, and Dangerous in Ontario on Saturday, July 13, 2013.

Bruce Norris of The Norris Group will be holding their Distressed Property Bootcamp Tuesday-Thursday, July 16-18, 2013.

Bruce Norris of The Norris Group will be speaking at SJREI Poised to Pop Thursday, September 5, 2013.

Looking Back:

Prices on homes increased 0.8% in April for the third month in a row, although at the same time home sales dipped 1.5% the following month.  Capital Economics expected homes prices to increase 2% in 2012 and 5% by 2013.  Unemployment claims were still high despite dropping by 2,000 the previous week.  Mortgage rates were also at a new record low at 3.66%.

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.

The Norris Group Real Estate News Roundup 6/20/13

Thursday, June 20th, 2013


Today’s News Synopsis:

Existing home sales increased 12.9% to 5.18 million in May.  This is up 12.9% year-over-year and 4.2% month-over-month.  Unemployment claims surprisingly increased by 18,000 t 354,000 this past week.  This is up from 336,000 in the week ending June 8.  Freddie Mac reported fixed-rate mortgages decreased slightly with 30-year rates now at 3.93% and 15-year rates at 3.04%.

In The News:

Inman - “Agents target unlisted foreclosures with more success” (6-20-13)

“More than 8 in 10 real estate owned (REO) properties — 500,000-plus homes that could ease today’s sharp inventory shortage — are unlisted, according to an estimate provided to Inman News by data aggregator RealtyTrac.”

Mortgage Professional America - “Foreclosure buyers would have to offer assistance under new ordinance” (6-20-13)

“A Chicago ordinance passed June 5 will force purchasers of foreclosure properties to offer either rental renewals or more than 10,000 in relocation assistance.”

Housing Wire“Zillow: Home values to increase 4.1% by May 2014″ (6-20-13)

“National home values continued to increase in May, up 0.5% from April, to a Zillow Home Value Index of $159,000. Year-over-year, home values rose 5.4%, marking the second-highest annual rate of national appreciation registered in the past 12 months.”

Inman - “Existing-home sales increase as inventory shortage persists” (6-20-13)

“Existing-home sales in May hit their highest level since November 2009 when a tax stimulus was fueling sales, according to the National Association of Realtors.”

DS News - “First-Time Jobless Claims in Surprise Jump” (6-20-13)

“First-time claims for unemployment insurance jumped a surprising 18,000 to 354,000 for the week ending June 15, the Labor Department reported Thursday.”

Housing Wire“Fixed-mortgage rates reverse directions, move lower” (6-20-13)

“Fixed-mortgage rates moved slightly lower for the first time in almost two months as markets awaited the Federal Reserve’s monetary policy decision to continue its bond-buying program Freddie Mac said in a report Thursday.”

Bloomberg“Bernanke Faith in Housing Seen in Mortgage Bonds: Credit Markets” (6-20-13)

“Mortgage rates in the U.S., after increasing at the fastest pace in a decade, are poised to rise even further with Federal Reserve Chairman Ben S. Bernanke saying the central bank is ready to slow its purchases of Treasuries and bonds backed by housing loans.”

DS News - “International House Hunters Stay Active in U.S. Market” (6-20-13)

“While the level of search activity from international house hunters changed little year-over-year, Trulia found trends are changing among foreigners who are shopping for homes in the U.S.”

Hard Money Loan Closed

Corona, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $145,000 on a 2 bedroom, 1 bathroom home appraised for $211,000.

 

Bruce Norris of The Norris Group will be speaking at the Real Estate Industry Update in Rancho Cucamonga TODAY.

Bruce Norris of The Norris Group will be speaking at California Comeback 2: Fast, Furious, and Dangerous in Ontario on Saturday, July 13, 2013.

Bruce Norris of The Norris Group will be holding their Distressed Property Bootcamp Tuesday-Thursday, July 16-18, 2013.

Looking Back:

In an interesting news story, the home of “Octomom” Nadya Suleman recently went into foreclosure after several delayed foreclosure auctions in the previous three months.  The Mortgage Bankers Association reported a 0.8% decrease in mortgage applications from the previous week, although the volume of government volume increased that week.  The Lender Processing Services reported a 1.1% increase in the delinquency for the second month in a row after having been on the decline for 9 months.

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.