Today’s News Synopsis:
Zillow reported in many metropolitan areas homes in urban areas are increasing more than suburban areas. Realtor.com just released their list of the top 20 markets, Dallas, San Jose, and San Francisco being at the top. The first employment summary for both this year and part of 2015 is expected to be released on Friday by the Bureau of Labor Statistics, giving an update on job gains and losses.
In The News:
DS News – “The Week Ahead: Waiting to See if the Jobs Report Measures Up” (1-31-16)
“The Bureau of Labor Statistics (BLS) will release the first employment summary of 2016 on Friday, February 5 (technically, it’s the second employment summary released this year, but the first one that covers part of 2016 since the last one covered December).”
Housing Wire – “Black Knight: Will homebuying become unaffordable in two years?” (2-1-16)
“With the right economic conditions, in two years, home affordability could get close to the same level seen before the financial crisis, making it difficult for people to afford a home.”
Mortgage Bankers Association – “Remarks by MBA President David H. Stevens During MBA’s 26th Annual Commercial Real Estate Finance/Multifamily Housing (CREF) Convention & Expo” (2-1-16)
“David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association (MBA) today delivered the following remarks at the association’s 26th Annual Commercial/Real Estate Finance/Multifamily Housing (CREF) Convention & Expo.”
Mortgage Professional America – “Morning Briefing: Urban homes outpacing suburbs in most major metros” (2-1-16)
“Most top-tier metros are seeing urban homes outpacing those in the suburbs according to a new report from Zillow. While the American Dream of a home in the suburbs is still maintaining higher prices in many areas, city living is hot in Boston, Washington DC and San Francisco with the mean value of urban homes beating those in suburban areas.”
Housing Wire – “First Tennessee Bank reaches $1.9 million settlement over discriminatory lending” (2-1-16)
“For the second time in just over six months, First Tennessee Bank, the regional bank for First Horizon National, is settling with the federal government over allegations that it violated U.S. lending laws.”
Mortgage Professional America – “Fraud, defective loans declining” (2-1-16)
“The housing market is improving and fraud is declining – a trend one economist says will continue. The First American Loan Application Defect Index, which measures defects, fraud and misrepresentation in the information submitted in mortgage applications, has fallen drastically.”
“The quest for the White House begins Monday night in Iowa with the first caucus of the 2016 presidential election as candidates Hillary Clinton, Donald Trump, Ted Cruz, and Bernie Sanders, Marco Rubio, and a handful of others, try to secure the presidential nomination from their respective political party in Iowa when voting begins at 7 p.m. central time.”
Housing Wire – “Here are the hottest top 20 housing markets for the start of 2016” (2-1-16)
“Although homebuying in January followed the seasonal trend, with fewer homes on the market and slow sales movement, the housing market is expected to pick up heading into the spring homebuying season.”
Hard Money Loan Closed
Los Angeles, California hard money loan closed. Real estate investor received loan for $215,000 on this single family property appraised for $322,000.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with Orange County FIBI on Tuesday, February 2.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with SDIC FIBI on Thursday, February 4.
Bruce Norris will be presenting Cashing in on a Boom: Investing in Quadrant 4 with Bruce Norris in Riverside on Saturday, February 6.
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.