Today’s News Synopsis:
Zillow reported the value of residential homes in America totaled $28.5 trillion at the end of 2015. The latest Home Price Index by Black Knight Financial Services showed home prices are continuing to increase, having increased 0.2% last October. A federal judge just tossed a lawsuit that the Department of Justice and HUD were facing by Quicken Loans.
In The News:
Bloomberg – “U.S. Real Estate to Draw More Foreigners in 2016, Survey Says” (1-3-16)
“Most foreign investors expect to put more money into U.S. property this year than they did in 2015, with New York remaining the top target market worldwide, according to a survey by the Association of Foreign Investors in Real Estate.”
Realty Trac – “The Top Rental Scams and How to Avoid Them” (1-4-16)
“While Christina and I have focused our business on flipping houses, we know that a lot of real estate investors enjoy getting passive income on a regular basis from rental properties. Unfortunately, there are a lot of rental scams out there that you really need to be aware of if you’re going to hold rental properties.”
Mortgage Professional America – “Morning Briefing: US homes valued at $28.5 trillion at year end” (1-4-16)
“The total value of America’s residential real estate hit $28.5 trillion at the end of 2015 according to analysis by Zillow. The housing market added $1.1 trillion in value, a 4.1 per cent increase on 2014.”
Bloomberg – “Young Money: Solutions for Millennial Financial Worries” (1-4-16)
“Keep your spending mindful and your savings mindless. That’s one key bit of financial advice for millennials from Karen Carr, a 27-year-old certified financial planner with Society of Grownups, a personal finance education and planning company based in Brookline, Mass.”
Housing Wire – “Quicken Loans’ lawsuit against DOJ, HUD tossed out by federal judge” (1-4-16)
“A federal judge tossed out Quicken Loans’ lawsuit against the U.S. Department of Justice and the Department of Housing and Urban Development that alleged the lender was being forced to make public admissions that were blatantly false, as well as pay a penalty or face legal action.”
Bloomberg – “Canada Pension Adds U.S. Student Housing With Joint Venture” (1-4-16)
“Canada’s largest pension-fund manager made its first foray into U.S. student housing, forming a joint venture with the Scion Group LLC and Singapore’s GIC Pte. to purchase a group of properties for $1.4 billion.”
DS News – “Home Prices Continue Steady Upward Move” (1-4-16)
“Despite seasonal changes, home prices continued their upward trend in October 2015. Black Knight Financial Services’ Data and Analytics division released its October 2015 Home Price Index (HPI) report, finding that U.S. home prices rose marginally by 0.2 percent in October.”
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with Prosperity Through Real Estate on Tuesday, January 5.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with CVREIA on Tuesday, January 12.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with AOA Orange County on Tuesday, January 19.
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