California Real Estate Headline Roundup

Posts Tagged ‘Capital Economics’

By Bruce Norris .

The Norris Group Real Estate News Roundup 2/21/14

Friday, February 21st, 2014

Sources:

Zillow Marks Upward Trend in Mortgage Rates
New home sales see big jump

Today’s News Synopsis:

Aaron gives highlights from the news of the week in today’s real estate headline roundup.  Existing home sales decreased last month and are now at their lowest in a year and a half.  Fannie Mae reported a quarterly profit of $6.6 billion, marking their eight quarter in a row to show signs of profit.

In The News:

Bloomberg - “Gains in Farmland Values Stall, ending Five-Year Boom” (2-21-14)

“Existing-home sales tumbled in January to the lowest level in a year and a half as inventory shortages push home prices higher, the latest data from the National Association of Realtors announced.”

Housing Wire - “Existing home sales hit lowest level in year and a half” (2-21-14)

“Existing-home sales tumbled in January to the lowest level in a year and a half as inventory shortages push home prices higher, the latest data from the National Association of Realtors announced.”

DS News“Fannie Mae Dividend Payments to Exceed Treasury Draws” (2-21-14)

“Fannie Mae released its Comprehensive Income Statement for the fourth quarter of 2013, noting a quarterly comprehensive income of $6.6 billion. It was the eighth consecutive quarterly profit for the government-sponsored enterprise (GSE).”

Mortgage Professional America - “Could originators see more business this spring?” (2-21-14)

“Mortgage brokers may see more business this spring, as Zillow is predicting a buyer’s market due to higher inventory and slower price appreciation.”

DS News - “Delinquency Rates Drop to Lowest Since 2008″ (2-21-14)

“The Mortgage Bankers Association (MBA) released its National Delinquency Survey Thursday, reporting the seasonally adjusted rate for delinquent mortgages is 6.39 percent, the lowest level since 2008.”

Housing Wire - “The weather is improving but housing conditions are not – here’s why” (2-21-14)

“Housing, by nature, is more susceptible to weather distortion than activity in other parts of the economy, a recent report from Capital Economics said.”

Bloomberg“Wall Street Landlords Buy Bad Loans for Cheaper Homes” (2-21-14)

“Wall Street-backed landlords are showing a greater appetite for bad mortgages as a source for cheap property as the supply of foreclosed homes declines while housing prices continue to climb.”

 

Hard Money Loan Closed

Redlands, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $120,000 on a 2 bedroom, 1 bathroom home appraised for $224,000.

Redlands Hard Money Loan closed by the Norris Group

 

Bruce Norris of The Norris Group will be giving a California Real Estate Market update with Inland Empire Escrow on Thursday, February 27, 2014.

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

Looking Back:

The National Association of Realtors reported existing home sales increased 0.4% the previous month to 4.92 million.  Meanwhile, Goldman Sachs expected home sales to increase and continue to increase over the next four years.  30-year mortgage rates increased to 3.56%, the highest they had been in 7 months.  Zillow reported almost 2 million homeowners were brought out of negative equity the previous 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 10/22/13

Tuesday, October 22nd, 2013

Today’s News Synopsis:

The unemployment rate decreased to 7.2% and is now at its lowest level since November 2008.  Spending on construction increased in August for the fifth month in a row by 0.6%.  The Federal deficit is now at $22B with the recent FHA bailout.


In The News:

Housing Wire- “FHA bailout pushes federal deficit to $22B” (10-22-13)

“With the Federal Housing Administration drawing $1.7 billion from the Treasury into its Mutual Mortgage Insurance fund for the first time in FHA history, the balance of the fund ended up costing the federal government a hefty sum.”

DS News“Analysts: Rising Rates Contributing to Housing’s Slowdown” (10-22-13)

“While maintaining that tight credit conditions and rapid price gains present the greatest threats to the housing recovery, Capital Economics is ready to acknowledge that rising mortgage rates may provide more drag than the firm’s analysts first thought.”

Bloomberg- “Construction Spending in U.S. Increases for Fifth Straight Month” (10-22-13)

“Construction spending in the U.S. rose in August for a fifth consecutive month, propelled by the strongest outlays on homebuilding in five years.”

Housing Wire“LPS earnings plummet as default servicing landscape shifts” (10-22-13)

Lender Processing Services (LPS), known for providing data, analytics and services to the mortgage industry, felt the sting of a 40% drop in earnings-per-share in the third quarter as the company adjusted to a decline in overall transactions within the origination and default services segments.”

CNN Money“Unemployment falls but hiring slows” (10-22-13)

“The unemployment rate fell to its lowest level since November 2008, but the government’s latest jobs report still shows a muddled picture of the economy. ”

DS News- “Report: New Rules Not Expected to Interfere with Fair Lending” (10-22-13)

“Five federal agencies issued Tuesday a statement assuring creditors that they do not run the risk of being found in violation of fair lending laws should they choose to only originate “qualified mortgages” (QM) as defined earlier in the year.”

Mortgage Professional America“Shutdown could have lingering effect on home sales” (10-22-13)

“Existing home sales have backed off since hitting near-four year highs in August, and the recent government shutdown could hamper sales even further”

Realty Trac“Fed Options Hobbled By Tough Jobs Market & Falling Income” (10-22-13)

“Home prices during the past year have risen significantly but can prices continue to increase? More and more the answer has a lot to do with employment levels and income as opposed to bricks and mortar.”

Hard Money Loan Closed

Norco, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $370,000 on a 4 bedroom, 3 bathroom home appraised for $535,000.

 

Bruce Norris of The Norris Group will be holding their Distressed Property Bootcamp Tuesday-Thursday, October 22-24, 2013.

Bruce Norris will be speaking at the Financial Tactics Brunch on Thursday, October 26, 2013.

Bruce Norris will be speaking at the Anaheim REI Expo on Sunday, November 3, 2013.

Looking Back:

September saw in an increase in mortgage delinquencies according to a report from the Lender Processing Services.  The rate, originally at 7.4%, was at 7.72%.  The number of bank failures was at 46 with the closure of three more banks in Tennessee, Minnesota, Arkansas.  In order to help JP Morgan with their mortgage margins and to keep taxpayers safe, Fannie Mae and Ginnie Mae limited the number of loans they are purchasing from firms.

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 6/27/13

Thursday, June 27th, 2013


Today’s News Synopsis:

Unemployment claims decreased again this past week by 9,000 to 346,000 according to the latest Labor Department report.  Mortgage rates increased again to their highest level since July 2011 with 30-year rates now at 4.46% and 15-year rates now at 3.5%.  Pending home sales increased 6.7% and now stand at their highest since December 2006 at 112.3.

In The News:

DS News - “First-Time and Continuing Jobless Claims Drop” (6-27-13)

“First-time claims for unemployment insurance dropped 9,000 to 346,000 for week ending June 22, the Labor Department reported Thursday.”

Bloomberg - “Mortgage Rates in U.S. Jump to Highest Since July 2011″ (6-27-13)

“Mortgage rates for 30-year U.S. loans surged to the highest level in almost two years, increasing borrowing costs at a time when the housing market is strengthening and prices are jumping.”

Housing Wire“Agency mREITs reliance on repo funding may impact MBS” (6-27-13)

“Agency mortgage real estate investment trusts and other leveraged investors may face pressures to liquidate some of their mortgage-backed securities holdings, given the reliance on repo funding, analysts claim.”

Realty Times - “Report Deflates Bubble Talk With Subdued Housing Forecast” (6-27-13)

“Tempering bubble talk with more pragmatic foresight, Capital Economics says the housing market is due for a bit of a reality check, even as the recovery continues.”

DS News - “Calendar Boosts May Incomes; Spending Increases” (6-27-13)

“With a boost from the calendar, personal income rose 0.5 percent in May—faster than economists had forecast—while personal consumption went up an unsurprising 0.3 percent the Bureau of Economic Analysis (BEA) reported Thursday.”

Inman“Silicon Valley property tax rolls at record high” (6-27-13)

“Homes and other property in California’s Silicon Valley have never been worth more, according to the Santa Clara County Assessor, which is about to send out letters to 478,000 property owners who can expect to see their assessments go up by an average of 8.35 percent.”

Bloomberg“Pending Sales of Previously Owned U.S. Homes Jumped 6.7%” (6-27-13)

“More Americans signed contracts in May to buy previously owned homes than at any time in more than six years, a sign of bigger progress in the industry.”

CNN Money - “International House Hunters Stay Active in U.S. Market” (6-27-13)

“Think the Federal Reserve is sure to start tapering back on QE3 this year? Think again.  Fed officials are out in full force trying to calm markets. On Thursday alone, three officials each said the Fed’s controversial stimulus program could continue at full blast if the job market doesn’t keep improving.”

Hard Money Loan Closed

Pomona, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $165,000 on a 2 bedroom, 1 bathroom home appraised for $240,000.

 

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:

The Mortgage Bankers Association reported a 7.1% decrease in mortgage applications from the previous week.  Pending home sales increased 5.9% the previous month according to the National Association of Realtors.  A new bill was passed by the New Jersey State Senate that would allow towns to rent out or resell former foreclosure properties they purchased off the market.

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 6/14/13

Friday, June 14th, 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.  Zillow reported housing inventory has shown positive signs this year alone despite having decreased year-over-year.  The west saw a decrease in foreclosure sales this month.

In The News:

Housing Wire - “Zillow: Housing inventory turnaround begins” (6-14-13)

“Although year-over-year, housing inventory was down in June, it has improved since the beginning of the year as the spring selling season brought with it an increased inventory, according to Zillow.”

DS News“Report: Mortgage Rates Too Low to Add Serious Threat to Recovery” (6-14-13)

“The recent rise in mortgage rates is not enough to pose any real threat to the housing recovery, but that’s not to say the increase doesn’t come with any risk, according to a recent analysis from Capital Economics.”

Inman“Demand for architects recovers along with housing market” (6-14-13)

“Apparently feeding on a stream of new buyers, architects are reporting that business is better than it’s been in eight years, with demand for their services in designing move-up homes, custom or luxury homes, and starter homes sharply increasing in the first quarter of 2013, the American Institute of Architects’ first-quarter 2013 Home Design Trends Survey suggests.”

Housing Wire - “Ocwen enters massive MSR agreement with OneWest Bank” (6-14-13)

“Ocwen Loan Servicing entered into a mortgage servicing rights purchase and sale agreement with OneWest Bank.”

DS News - “Fannie Mae: Economy on Path to Normal Growth” (6-14-13)

“While fiscal headwinds have held back economic growth for the first half of 2013, Fannie Mae’s Economic & Strategic Research Group maintains in its newest Economic and Housing Outlook that the recovery should pick up the pace as it heads into the year’s second half.”

Housing Wire - “Agency MBS hit bumps due to Fed tapering” (6-14-13)

“May witnessed heightened volatility, scattered demand and an overall move to higher yields and lower prices amidst a backdrop of Federal Reserve tapering uncertainties, analysts claim.”

DS News - “Foreclosure Sales in West Down in May; Likely to Increase in June” (6-14-13)

“Foreclosure sales decreased in all five Western states tracked by PropertyRadar —Arizona, California, Nevada, Oregon, and Washington—over the month of May.”

Hard Money Loan Closed

Hemet, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $123,000 on a 6 bedroom, 2 bathroom home appraised for $180,000.

 

Bruce Norris of The Norris Group will be speaking at the NSDREI 9th Anniversary Dinner Party in Oceanside on Tuesday, June 18, 2013.

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:

Unemployment insurance claims increased to 386,000 for the week ended June 9.  Shadow inventory was at its lowest level since 2008 according to CoreLogic.  New York Attorney General Eric Schneiderman introduced a bill that would punish foreclosure fraud more harshly.  Foreclosures decreased 4% from the previous month, although despite this the Inland Empire showed the highest rate 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 5/3/13

Friday, May 3rd, 2013



Sources:

Today’s News Synopsis:

This week’s video is a slideshow of a few big news stories of the week.  Employment for the the 18-34 year old demographic decreased 75.2% in December, making it only a little higher than it was last year.  This occurred despite the unemployment rate decreasing 7.5% month-over-month.  The home ownership rate continues to decline with the increase in foreclosures and stricter lending standards.

In The News:

Housing Wire - “April job gains dampened by weaker outlook for young Americans” (5-3-13)

“Despite overall growth in the employment situation in the month of April, employment for 18- to 34-year olds slipped to 75.2% from 75.6% in December, creating the potential for drag on the housing market.”

DS News“Tight Lending, Foreclosures to Prompt Homeownership Declines” (5-3-13)

“With the homeownership rate already at its lowest point since 1995, Capital Economics predicts further decline before a rebound occurs.”

CNN Money“Obama’s pick for housing agency head faces big headaches” (5-3-13)

“The next head of the Federal Housing Finance Agency will have quite the task waiting.  President Obama nominated Mel Watt, a Democratic congressman from North Carolina, this week to be the next head of the FHFA. Should Watt be confirmed by the Senate, he will play a critical role in shaping the future of the U.S. housing market.”

Housing Wire - “Carol Galante: FHA multifamily volume production nears its peak” (5-3-13)

“Federal Housing Administration Commissioner Carol Galante told HousingWire in an exclusive interview that the FHA’s multifamily refinancing volume is most likely at its peak, with low interest rates encouraging refis on existing loans insured by agency.”

DS News - “Fourth Round of Foreclosure Review Checks Sent, Bringing Total to 3.9M” (5-3-13)

“The Office of the Comptroller of the Currency (OCC) announced the fourth round of checks from the foreclosure review settlement was sent Friday, May 3.”

Inman - “Home construction continues to add jobs” (5-3-13)

“Builders continued to hire more workers in April, though employment among an age cohort important to household formation slipped, according to today’s jobs report, which showed more overall growth than expected.”

Housing Wire - “Nevada lawmakers push for local Homeowner Bill of Rights” (5-3-13)

“The California Homeowner Bill of Rights shifted how foreclosure attorneys, banks and homeowners view the default process in the state.”

DS News - “Payrolls Up 165k in April; Unemployment Rate Drops to 7.5%” (5-3-13)

“The economy added 165,000 jobs in April—rebounding from a weak report for March—and the unemployment rate dropped to 7.5.percent, its lowest level since December 2008, the Bureau of Labor Statistics reported Friday.”

Hard Money Loan Closed

Hesperia, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $55,000 on a 3 bedroom, 2 bathroom home appraised for $107,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived with FIBI OC on Tuesday, May 7, 2013.

Bruce Norris of The Norris Group will be presenting Poised to Pop: Quadrant Four Has Arrived with Asian REIA on Wednesday, May 15, 2013.

Bruce Norris of The Norris Group will be presenting Poised to Pop: Quadrant Four Has Arrived with TIGAR on Thursday, May 16, 2013.

Looking Back:

According to a recent survey released by Freddie Mac, fixed mortgage rates were at their lowest on record with 30-years at 3.84% and 15-years at 3.07%.  First time claims for unemployment decreased by 27,000 the previous week according to the Labor Department.  Mortgage servicers also reported filing less than half the number of mortgage modifications they filled out the previous year for Freddie Mac loans.

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 4/19/13

Friday, April 19th, 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.  The amount of homes flipped in California increased by almost three times the amount from last year and are now at their highest level since September 2005.  According to a recent announcement by the OCC, the second wave of foreclosure checks was sent out last week.

In The News:

Housing Wire - “The gap between large and small homebuilders widens” (4-19-13)

“The 14% increase in land values during the first three quarters of 2012 was four times greater than the rise in house prices, Capital Economics said in a new report.”

CNN Money - “Inflation is very, very low. Time to worry?” (4-19-13)

“Prices aren’t going up very much. Should we celebrate?  Not really. Inflation that’s too low could be a bad sign for the U.S. economy, and some Federal Reserve officials are starting to get concerned.”

DS News“California Flipping Activity at Highest Level Since 2005″ (4-19-13)

“Real estate sales have been weakening in California, but ForeclosureRadar found flipping activity in the state reached its highest level since September 2005.”

Bloomberg“Deutsche Bank Loan Signals Rental Home Bond Dreams” (4-19-13)

“Deutsche Bank AG (DBK) is moving closer to turning U.S. rental home payments into bonds, which would be one of the first new types of securitization since the 2008 credit crisis, and pave the way for an infusion of capital.”

Realty Times - “Welcome Back Vacation Homes” (4-19-13)

“Vacation home sales improved in 2012 by 10 percent and the outlook for second-home sales continues to look good because of favorable conditions, according to the National Association of Realtors.”

Housing Wire - “FDIC sues Florida law firm over failed bank” (4-19-13)

“Several law firms in Florida became the center of an intense attorney generals investigation after the financial crisis for their handling of foreclosures.”

Inman - “Census Bureau infographic shines light on home investment” (4-19-13)

“The Census Bureau has released an infographic that illustrates the level of commitment among many homeowners to improving their homes, highlighting some of the most common-remodeling projects and tallying up $359 billion in total investments from 2009 through 2011.”

DS News - “Second Wave of 1.4M Foreclosure Review Checks Sent” (4-19-13)

“The Office of the Comptroller of the Currency (OCC) announced the second wave of payments resulting from the foreclosure settlement with federal regulators and 13 servicers was sent Friday.”

Hard Money Loan Closed

Hesperia, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $440,000 on a 2 bedroom, 2 bathroom home appraised for $71,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived with FIBI OC on Tuesday, May 7, 2013.

Bruce Norris of The Norris Group will be presenting Poised to Pop: Quadrant Four Has Arrived with TIGAR on Thursday, May 16, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived with Chino Valley Real Estate on Friday, May 17, 2013.

Looking Back:

Claims for unemployment decreased by 2,000 with claims being at 386,000 compared to 388,000 the week prior.  Existing home sales also decreased 2.6% the previous month for the third time in the previous four months.  Mortgage rates increased to 3.9% at this time last year, the first time in four weeks mortgage rates saw an 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 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.

The Norris Group Real Estate News Roundup 3/13/13

Wednesday, March 13th, 2013


Today’s News Synopsis:

The Mortgage Bankers Association reported mortgage applications decreased 4.7% from last week.  The number of Fannie and Freddie mortgages refinanced through HARP was at 1.1 million, exceeding expectations for 2012.  Storm victims in Mississippi are being offered relief by Freddie Mac.

In The News:

Mortgage Bankers Association- “Mortgage Applications Decrease in Latest MBA Weekly Survey” (3-13-13)

“Mortgage applications decreased 4.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 8, 2013.”

Bloomberg“HARP Surpasses 2012 Estimates on Homeowner Refinances” (3-13-13)

“Homeowners with underwater mortgages in U.S. states worst-hit by foreclosures are leading refinancings after the government expanded programs to aid borrowers, strengthening the weakest link in the housing recovery.”

DS News“No Signs of a Slowdown for Prices; Market Poised for Supply Increase” (3-13-13)

“Housing inventory is now at its lowest level since January 1994; home sales have exceeded listings for the past 25 months; and the upward trajectory in home prices starting at the end of last year continues, according to the latest “US Housing Market Monthly” from Capital Economics.”

Realty Times - “Borrowers Step Up Pace to Obtain Low Mortgage Rates” (3-13-13)

“Recent economic data has been consistently showing signs of improvement, especially in relation to the housing sector. While this is good news, it often leads mortgage rates to move higher. With this in mind, borrowers are stepping up the pace to obtain low mortgage rates while they are still available.”

DS News - “Freddie Mac Provides Mortgage Relief to Mississippi Storm Victims” (3-13-13)

“Freddie Mac announced it is offering mortgage relief to homeowners who were victims of the storms that swept through Mississippi in February.”

CNN Money - “The wealth effect might be shrinking” (3-13-13)

“The Dow keeps hitting all-time highs and home prices are rising.  But many Americans do not feel any richer. That could be bad news for the economy.”

DS News - “Gasoline Sales Boost February Retail Activity” (3-13-13)

“Led by a surge in gasoline prices, retail sales rose 1.1 percent in February, the Census Bureau reported Wednesday. Economists had expected an increase of 0.5 percent. In January, retails sales rose 0.2 percent.”

Bloomberg - “Lenders Expand HARP Loans to More Borrowers as Rules Change” (3-13-13)

“Lenders are becoming more willing to offer new loans to borrowers who don’t have any home equity after changes to the rules of the U.S. government’s Home Affordable Refinance Program.”

Hard Money Loan Closed

Lancaster, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $70,000 on a 4 bedroom, 2 bathroom home appraised for $120,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at NORCALREIA TOMORROW.

The Norris Group will be holding their Distressed Property Boot Camp from March 26-28, 2013.

Bruce Norris of The Norris Group will be presenting How to Make a Million Dollars Maximizing the Next 24 Months on Saturday, March 6 in Sacramento.

Looking Back:

As part of the robo-signing settlement, Ally Financial offered more principal reductions than they were required to pay by lowering principal to 85%.  The unemployment rate decreased in 45 states in January 2012 according to the Labor Department.  The FOMC decided by a 9-1 vote to keep Fed Fund rates at record lows after announcing that the housing sector continued to remain low despite a moderately expanding economy.

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 2/15/13

Friday, February 15th, 2013



Sources:

Home Prices Rise in 88% of U.S. Cities as Recovery Gains
Pent-up demand fuels home sales: NAR
Mortgage delinquency rate drops nearly 14%: TransUnion
Retail sales up despite payroll tax hike
RealtyTrac: Foreclosure Starts Slow to 79-Month Low
Senators Reintroduce Refi Bill
Job growth in housing lingers near post-bubble lows
CoreLogic: QM, QRM Rules Remove 60% of Loans and 90% of the Risk
Restarting Mortgage Finance: Step 1
FHA considered ‘high-risk’ by government oversight group

Today’s News Synopsis:

Aaron Norris gives the news of the week in the world of real estate in this week’s video.  RE/MAX reported median home prices increased 8% year-over-year, although monthly they continued to show signs of decline.  Non-judicial foreclosing decreased drastically in California this month, although this could be due to a change in the legal politics rather than distressed homeowners finding a way out.

In The News:

DS News- “RE/MAX: Prices Up 8% from Year Ago; Inventory Falls Again” (2-15-13)

“Median home prices in January continued to stay above year ago levels while falling month-over-month, according to a recent report from RE/MAX. At the same time, inventory remained low, causing a shortage in supply while pushing up home prices, RE/MAX explained.”

Housing Wire“CFPB rules give some mortgage and housing companies more options” (2-15-13)

“The nature of new regulations is typically meant to be restrictive in nature. However, the new rules will give some mortgage and housing companies more options.”

Realty Times - “Seasonal Flip-Flop Hallmarks Housing Recovery, Tough Times For First-Time Buyers” (2-15-13)

“Just as home price gains are moving up against the traditional seasonal grain, inventories are going down at a time when they typically turn up.”

Housing Wire- “REITs announce $1.7 billion in new capital offerings: BofAML” (2-15-13)

“Mortgage real estate investment trusts will announce $1.7 billion in new capital offerings in 2013, said analysts at Bank of America Merrill Lynch ($12.13 0%).”

Housing Wire - “California falling foreclosures may be a mirage in the desert” (2-15-13)

“The second month of 2013 brought news that non-judicial foreclosure filings fell significantly in California.”

Bloomberg“Wells Fargo Turns to U.K. as European Banks Retreat” (2-15-13)

“Wells Fargo & Co., the lender that’s expanding its securities unit to challenge Wall Street competitors, is broadening U.K. commercial property lending as European banks are forced to retreat.”

DS News- “Report: Price Recovery Appears Unsustainable in Arizona, Nevada” (2-15-13)

“Certain states are seeing stronger, above average gains in home prices, but concerns have been raised that some states are seeing “unsustainable, investor-fueled” increases, Capital Economics pointed out in a recent report.”

Housing Wire“Housing recovery momentum continues to build” (2-15-13)

“Momentum continued to grow in a snowball effect manner, with prices rising to a two-year high in December, according to the latest FNC report.”

Hard Money Loan Closed

Moreno Valley, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $156,000 on a 4 bedroom, 2 bathroom home appraised for $226,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at OCREIA on Thursday, February 21, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at IEIF on Tuesday, February 26, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at FIBI Long Beach on Thursday, February 28, 2013.

Looking Back:

In a big news story, for the fifth month in a row there was an increase in builder confidence for single-family homes.  In other news, according to the Mortgage Bankers Association applications for mortgages decreased 1% from the previous week.  For anyone wanting to submit a foreclosure review, they the deadline was extended to July 31 from the original date of April 30.

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 2/8/13

Friday, February 8th, 2013



Sources:

CoreLogic: Prices End 2012 with Biggest Annual Gain in Six Years
Winter Season Slows Home Price Gains
Rent Gains Soften as More Multiunit Buildings Enter Market: Trulia
List of Improving Housing Markets Expands to 259 in February; All 50 States Represented
Mortgage Applications Increase in Latest MBA Weekly Survey
Consumer confidence breaks darkness surrounding housing
Mortgage rates settle back down
MBA: Multifamily originations grew 49% in 4Q
Fannie Mae Provides $33.8B to Multifamily Sector in 2012
MBA Forecasts $254 Billion of Commercial/Multifamily Mortgage Originations in 2013, Up 11% From 2012
Carrington Mortgage Services rolls out 25-day loan closings
S&P accused of misrepresenting risks of bundled mortgages
House Democrats Ask Obama to Replace Fannie Mae Regulator
Capital Economics: Rise in Household Wealth to Boost GDP

Today’s News Synopsis:

This week’s video is a slideshow of some of the big news stories in real estate.  Capital Economics expects GDP to increase with the increase in home and equity prices.  The White House announced budget cuts they will be making, which include cuts from both defense and non-defense programs.

In The News:

DS News- “Fitch: CMBS Delinquencies Fall Again; Georgia Remains ‘Problem Spot’” (2-8-13)

“The national delinquency rate for commercial mortgage-backed securities (CMBS) began the year with another decline, marking the eighth consecutive month of decreases, according to Fitch Ratings. The rating agency, however, noted regional struggles in Georgia.”

Housing Wire“Moody’s earnings skyrocket despite credit rating scrutiny” (2-8-13)

“During a week when credit rating agencies faced increased scrutiny, Moody’s Corporation profits soared, beating market expectations.”

Inman - “Referral site for global listings grows in the US” (2-8-13)

“A Los Angeles-based referral site with more than 200,000 overseas property listings is expanding into the U.S., with exclusive partners in seven states so far.”

Housing Wire- “Schneiderman probe: Another chip in the armour of credit rating agencies?” (2-8-13)

“With the $5 billion civil suit against Standard and Poor’s Rating Services putting a target on the credit rating agency’s back, the door may have been pushed open for inspection of rival credit rating agencies.”

CNN Money - “White House details pending budget cuts” (2-8-13)

“Some 600,000 poor women and children will no longer get free milk and cheese, and some 2,100 fewer food inspections will take place if federal budget cuts expected to kick in March 1 actually take place.”

Bloomberg“Housing Slump and Canada Job Cuts Mark Slow Start to 2013″ (2-8-13)

“Canadian employers unexpectedly cut jobs in January while home builders slowed the pace of new construction to the least since 2009, suggesting a languid start to the new year for the country’s economy.”

DS News- “Capital Economics: Rise in Household Wealth to Boost GDP” (2-8-13)

“With the increase in home and equity prices, Capital Economics suggests net household wealth may be on its way to rising above pre-recession levels later this year, which will lead to a boost to GDP.”

Housing Wire“PMI’s mortgage insurance assets to be acquired” (2-8-13)

“PMI Mortgage Insurance has faced turbulent times these past few years after the mortgage insurer was pulled into receivership and then a bankruptcy proceeding by its primary regulator, the Arizona Department of Insurance.”

Hard Money Loan Closed

Moreno Valley, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $118,000 on a 4 bedroom, 2 bathroom home appraised for $171,000.

 

Bruce Norris of The Norris Group will be speaking at the 2013 Real Estate and Tax Strategies Kick-Off Brunch on Saturday, February 9, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at OCREIA on Thursday, February 21, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at IEIF on Tuesday, February 26, 2013.

Looking Back:

CoreLogic reported a decrease in foreclosures for the whole year in 2011 with 830,000 compared to 1.1 million in 2010.  According to Bloomberg, mishandled mortgages and foreclosures cost banks as much as $72 billion.  In other news, the Mortgage Bankers Association reported a 7.5% increase in mortgage applications.

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 12/3/12

Monday, December 3rd, 2012

Today’s News Synopsis:

The number of foreclosures decreased in October to 3.2% and decreased 9% for the whole year.  Existing home sales are continuing to increase and were up 2.1% last October according to the National Association of Realtors.  Spending on construction increased in October by 1.4%, three times more than was originally predicted.  Single-family seriously delinquent rates for Freddie Mac also decreased from 3.37% to 3.3% from September to October.

In The News:

DS News- “Housing Recovery Is Sustainable, According to Market Analysts” (12-3-12)

“Despite a number of potentially damaging headwinds, the ongoing housing recovery will remain sustainable for the foreseeable future, analysts for Capital Economics say in a recently released report.”

Los Angeles Times- “Foreclosures down in October as housing market continues healing” (12-3-12)

“The number of homes in foreclosure dropped in October from the previous month and was down 9% for the year as the housing market showed signs of improvement.”

Realty Times- “Real Estate Outlook: Existing-Home Sales Increase” (12-3-12)

“Existing-home sales are on the rise, despite the recent impact from Hurricane Sandy. The National Association of Realtors latest report showed that total existing-home sales were up 2.1 percent for the month of October. This is now a seasonally adjusted rate of 4.79 million units.”

Bloomberg“Construction Spending in U.S. Increases More Than Forecast” (12-3-12)

“Construction spending climbed almost three times more than forecast in October, reflecting broad- based gains that signal the industry is poised to make a bigger contribution to economic growth.”

DS News- “Freddie Mac’s Serious Delinquency Rate Slips to Three-Year Low” (12-3-12)

“Freddie Mac’s single-family seriously delinquent rate decreased from 3.37 percent in September to 3.31 percent in October—the lowest it’s been since August 2009.”

Housing Wire- “Fewer CMBS loans require special servicing” (12-3-12)

“Fewer commercial mortgage-backed securities loans are landing in special servicing, a sign that a recovery is underway in the commercial real estate market, according to Fitch Ratings.”

DS News- “SEC Ends Probe of Wells Fargo” (12-3-12)

“The Securities and Exchange Commission (SEC) has ended its investigation of potential fraud in offering documents for mortgage-backed securities (MBS) sold by Wells Fargo, Bloomberg reports.”

Bloomberg- “Fed’s Dudley Sees Obstacle in Mortgage Bond, Rate Spreads” (12-3-12)

“Federal Reserve Bank of New York President William C. Dudley said a wider gap between yields on mortgage-backed securities and home loans is reducing the potency of the central bank’s monetary stimulus.”

Hard Money Loan Closed

Covina, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $160,000 on a 3 bedroom, 1 bathroom home appraised for $264,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at the Scottish Rite Center in San Diego on Tuesday, December 11, 2012.

The Norris Group will be holding their Distressed Property Boot Camp from January 29-31, 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.