The Norris Group Blog

California Real Estate Headline Roundup

Posts Tagged ‘First American Improving Markets Index’

« Older Entries

By Bruce Norris .

The Norris Group Real Estate News Roundup 6/7/13

Friday, June 7th, 2013

 

 

Today’s News Synopsis:

This week’s videos is a promotional video for the upcoming California Comeback 2: Fast, Furious, and Dangerous on July 13.  In the news, 175,000 new jobs were added to the economy last month, although unemployment increased to 7.6%.  NAHB reported the number of improving housing markets increased this month after having shown signs of decrease in April and May.  According to the latest S&P Case Shiller Home Price Index report, home prices for the nation increased 12%.

In The News:

 

DS News - “Economy Adds 175K Jobs in May; Unemployment Rate Ticks Up” (6-7-13)

“The economy added 175,000 jobs in May, and the unemployment rate ticked up to 7.6.percent, the first month-over-month increase since January, the Bureau of Labor Statistics (BLS) reported Friday.”

Housing Wire – “Florida AG rips Bank of America over lingering servicing issues” (6-7-13)

“Another attorney general is snapping back at Bank of America over its mortgage servicing practices.”

Realty Times – “National Home Prices Jump 12 Percent” (6-7-13)

“A week after the S&P Case Shiller Home Price Indices reported home prices rose by more than 10 percent for the year ending in March, another report says home prices are up 12 percent on the year ending in April.”

DS News - “List of Improving Markets Trends Upward After Falling” (6-7-13)

“After falling in April and May, the National Association of Home Builders (NAHB)/ First American Improving Markets Index (IMI) resumed its upward trend in June, NAHB reported.”

Bloomberg - “Mortgage-Bond Yields Approach 14-Month High After Jobs Report” (6-7-13)

“Yields on Fannie Mae and Freddie Mac mortgage bonds that guide U.S. home-loan rates approached a 14-month high as May employment data failed to allay concern that the Federal Reserve will pare back its unprecedented stimulus.”

DS News - “Trulia: Asking Prices Accelerate in Least Affordable Housing Markets” (6-7-13)

“Asking prices are rising at an especially fast pace in the least affordable housing markets, according to Trulia.”

Inman - “Carrington introduces 21-day loan closing program” (6-7-13)

“Carrington Mortgage Services LLC is upping the ante in its ongoing push to streamline loan closings.  The wholesale lending division of the company recently announced that it is expanding a program that guarantees a loan closing within 30 days to include another that promises a closing in just 21 days.”

DS News - “Bay State Foreclosure Starts, Completions See Dramatic Declines in April” (6-7-13)

“Massachusetts foreclosure starts and completions plummeted over the last year in April, the Warren Group reported.”

Hard Money Loan Closed

Newport Beach, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $1,453,000 on a 3 bedroom, 3 bathroom home appraised for $2,422,000.

 

California Real Estate Investor Events

Bruce Norris of The Norris Group will be presenting his Free Pre-Event Webinar for California Comeback 2: Fast, Furious & Dangerous with TODAY, June 7, 2013.

Bruce Norris of The Norris Group will be speaking at the Cutting Edge Financial Tactics Brunch in Costa Mesa on Saturday, June 8, 2013.

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

Looking Back:

Mortgage rates decreased again for the sixth week in a row and were at their lowest on record at 3.67%.  Unemployment claims decreased to 377,000 from 389,000 for the week ended June 2.  With the economic recession at its worst since the Great Depression, more Americans were being cautious about leaving their jobs and starting new ones.  In addition, they were also wary about purchasing a new home.

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: , , , , , , , , , , , ,
Posted in News, Video Blog | No Comments »

The Norris Group Real Estate News Roundup 5/6/13

Monday, May 6th, 2013


Today’s News Synopsis:

According to the NAHB, the number of improving markets decreased this month to 258 compared to 273 in May.  Prices for commercial properties increased in April to their highest level, exceeding a peak reached back in 2007.  New York Attorney General Eric Schneiderman attends to sue both Bank of America and Wells Fargo for violation of the National Mortgage Settlement.

In The News:

Bloomberg - “Diminished Housing Wealth Effect Keeps Pressure on Fed” (5-5-13)

“The wealth effect from rising house prices may not be as effective as it once was in spurring the U.S. economy.  Rather than using their properties as ATM machines to boost spending, homeowners increasingly are paying down the principal and shortening the maturities of their mortgages in a move Florida banker Rob Nunziata calls ‘forced savings’.”

Realty Times – “Homeowners’, Renters’ Regrets Reveal Many Aren’t Prepared For New Home” (5-5-13)

“Three out of four Americans say it’s a good time to buy and more than two in five American renters say they are sorry they didn’t do so.”

NAHB – “Improving Markets List Includes 258 Metros in May” (5-5-13)

“The number of U.S. housing markets showing sustained improvement in three key measures fell slightly to 258 in May from 273 in April, according to the NAHB/First American Improving Markets Index (IMI), released today.”

Housing Wire - “New York AG to sue Wells Fargo and Bank of America” (5-5-13)

“New York Attorney General Eric Schneiderman announced Monday his intentions to sue Bank of America and Wells Fargo for allegedly violating terms of the National Mortgage Settlement.”

DS News - “FHFA Directs GSEs to Limit Purchases to QM Loans” (5-5-13)

“The Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to limit future loan purchases to those that meet the Consumer Financial Protection Bureau’s (CFPB) criteria for “qualified mortgage”

loans.”

Bloomberg - “U.S. Commercial-Property Prices Rise Above Their ’07 Peak” (5-5-13)

“Prices for U.S. commercial property last month rose above a peak reached in 2007 as low interest rates and financing availability helped increase values, according to research firm Green Street Advisors Inc.”

Housing Wire - “LPS: Homeowner Bill of Rights slows California foreclosure sales” (5-5-13)

“The California Homeowner Bill of Rights is slowing the movement of distressed properties in the West Coast state, Lender Processing Services said in a report.”

DS News - “LPS: Rate of New Problem Loans Approaching Pre-Crisis Levels” (5-5-13)

“The rate of new loans that rolled into serious delinquency fell below 1 percent for the first time since 2007, Lender Processing Services (LPS) reported Monday.”

Hard Money Loan Closed

Fallbrook, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $145,000 on a 3 bedroom, 1 bathroom home appraised for $225,000.

 

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.

 

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: , , , , , , , , , , , , , , , , , , ,
Posted in News | No Comments »

The Norris Group Real Estate News Roundup 3/21/13

Thursday, March 21st, 2013


Today’s News Synopsis:

The FHFA reported home prices increased by a total of 6.5% throughout 2012 and up to January.  In a big news day for mortgages, 30-year mortgage rates decreased to 3.54%, while at the same time mortgage applications also decreased 7.1% from last week.  Unemployment claims by 2,000 to 336,000 last week.

In The News:

Housing Wire- “NAR: Housing inventory growing at woefully slow pace” (3-21-13)

“After Freddie Mac predicted this spring to be the healthiest in six years, the National Association of Realtors confirmed by saying February existing-home sales and prices point towards a healthy housing spring.”

DS News – “Home Values Climb for 16th Straight Month in February: Zillow” (3-21-13)

“Home values maintained their upward trajectory in February after climbing for the 16th straight month, according to Zillow’s monthly Home Value Index.”

Bloomberg – “House Prices Rose 6.5% in Year Through January, FHFA Says” (3-21-13)

“U.S. house prices rose 6.5 percent in the year through January, the biggest jump since 2006, as values surged on the West Coast and in the area including Nevada and Arizona, the Federal Housing Finance Agency said.”

Mortgage Bankers Association - “MBA Releases 2012 Rankings of Commercial/Multifamily Mortgage Firms’ Origination Volumes” (3-21-13)

“Wells Fargo was the top commercial/multifamily mortgage originator in 2012, according to a set of commercial/multifamily real estate finance league tables prepared by the Mortgage Bankers Association (MBA).”

NAHB - “List of Improving Housing Markets Rises to 274 in March” (3-21-13)

“The list of improving U.S. housing markets expanded for a seventh consecutive month in March to include 274 metros on the National Association of Home Builders/First American Improving Markets Index (IMI), released today.”

Mortgage Bankers Association - “Mortgage Applications Decrease in Latest MBA Weekly Survey” (3-20-13)

“Mortgage applications decreased 7.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 15, 2013.”

DS News - “First-Time Jobless Claims Edge Up; Trend Stays Positive” (3-21-13)

“First-time claims for unemployment insurance increased 2,000 to 336,000 for the week ending March 16—the first increase in a month—the Labor Department reported Thursday.”

Bloomberg- “U.S. Mortgage Rates Decline With 30-Year Fixed at 3.54%” (3-21-13)

“U.S. mortgage rates fell as concern that Cyprus’s debt crisis might worsen drove investors to the safety of the government bonds that guide home loans.”

Hard Money Loan Closed

Hawthorne, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $225,000 on a 4 bedroom, 4.5 bathroom home appraised for $420,000.

 

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, April 6 in Sacramento.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at with High Desert Real Estate on Thursday, April 11, 2013.

Looking Back:

Sales of existing homes decreased 0.9% the previous month; although year-over-year they increased over 8%.  Mortgage applications were down 7.4% from the previous week, although mortgage rates were increasing slightly to above 4%.  In addition, the number of mortgages 30 days overdue decreased 5% month-over-month and 14% year-over-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.

Tags: , , , , , , , , , , , , , , ,
Posted in News | No Comments »

The Norris Group Real Estate News Roundup 1/8/13

Tuesday, January 8th, 2013

Today’s News Synopsis:

The number of improving markets increased drastically this month and is now at 242.  The number of closures for mortgage related businesses was less in 2012 at only 82.  The IRS announced they will begin accepting tax returns as early as the end of this month.

In The News:

Bloomberg- “BofA Escaping Countrywide Helps Moynihan Build: Mortgages” (1-8-13)

“Bank of America Corp. yesterday struck deals to settle lending complaints, sell rights to service $300 billion of mortgages and repair relations with regulators. For Chief Executive Officer Brian T. Moynihan, it offers his best chance to rebuild the home lending business.”

Inman- “Re/Max takes control of franchising in Texas” (1-8-13)

“Denver-based franchisor Re/Max LLC will now have the right to sign up Re/Max franchisees in Texas after taking ownership of the “master franchise” region.”

DS News- “Number of Improving Markets Spikes in January, Hits 242″ (1-8-13)

“The National Association of Home Builders (NAHB)/ First American Improving Markets Index (IMI) continued its trend of marked monthly improvements in January, according to a release from the NAHB.”

CNN Money – “IRS will accept tax returns starting Jan. 30″ (1-8-13)

“The Internal Revenue Service will start processing tax returns for the vast majority of filers on Jan. 30. The agency had planned to open the tax season on Jan. 22, but had to push back the date because Congress took until New Year’s Day to pass needed tax provisions.”

Housing Wire- “Fitch: QM and QRM resolution will restart private RMBS market” (1-8-13)

“The recent announcement by the Consumer Finance Protection Bureau’s intention to issue a final rule on the ability to repay requirement as part of the final Qualified Mortgage definition are key milestones for the private-label residential mortgage-backed securitization market.”

DS News- “Mortgage Daily: Mortgage Business Closings Finish 2012 at 82″ (1-8-13)

“Fewer businesses in the mortgage industry went under in Q4 2012, according to data from Mortgage Daily.”

Bloomberg- “NYC Midtown South Office-Vacancy Rate Rises as Rents Jump” (1-8-13)

“The office-vacancy rate in New York’s midtown south climbed for a fourth straight quarter as rents rose faster than some of the area’s technology and media tenants could pay, Cushman & Wakefield reported.”

Hard Money Loan Closed

Rancho Cucamonga, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $136,000 on a 3 bedroom, 2 bathroom home appraised for $310,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at SocalREIA on Thursday, January 10, 2013

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at the Apartment Owners Association on Thursday, January 17, 2013

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at the Buena Park Apartment Owners Association on Wednesday, January 23, 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.

Tags: , , , , , , , , , , , ,
Posted in News | No Comments »

The Norris Group Real Estate News Roundup 1/7/13

Monday, January 7th, 2013

Today’s News Synopsis:

Bank of America has settled a dispute with Fannie Mae to pay $11.7 billion to settle bad mortgage deals.  Also, ten of the largest banks in the nation have also agreed to a foreclosure settlement of $8.5 billion with federal regulators.  Short sales for Fannie Mae and Freddie Mac are at their highest on record at 37,966 in September, an increase of 4% from the previous quarter.

In The News:

Housing Wire- “About 43% of Americans expect home prices to rise” (1-7-13)

“The share of surveyed Americans who believe home prices will tick up in the next year reached the highest level to-date, at 43%, up 6 percentage points from November, according to Fannie Mae’s December National Housing Survey results.”

Los Angeles Times- “Ten banks to pay $8.5 billion to settle foreclosure abuse review” (1-7-13)

“Ten of the nation’s largest mortgage servicers have agreed to an $8.5-billion settlement with federal regulators to end a review of foreclosure abuses.”

Bloomberg- “BofA Earmarks $11.7 Billion to Cap Fannie Mae’s Claims” (1-7-13)

“Bank of America Corp. agreed to an $11.7 billion package designed to resolve most disputes with U.S.-owned Fannie Mae over bad mortgages after a deal announced two years ago proved inadequate.”

NAHB – “List of Improving Housing Markets Expands to 242 in January” (1-7-13)

“In the latest sign of a burgeoning recovery in U.S. housing markets, the number of metropolitan areas on the National Association of Home Builders/First American Improving Markets Index (IMI) rose for a fifth consecutive month to 242 in January. This is up from 201 markets listed as improving in December, and includes entrants from 48 states and the District of Columbia.”

Inman- “Fannie, Freddie short sales hit record high” (1-7-13)

“Loan servicers working on behalf of Fannie Mae and Freddie Mac signed off on a record number of short sales in the third quarter of 2012, according to a report from the mortgage giants’ regulator, the Federal Housing Finance Agency (FHFA).”

Housing Wire- “Latest MLS data reports Phoenix leads median increase” (1-7-13)

“The latest MLS data released by ZipRealty revealed that Phoenix median home prices are up more than any other market nationwide on a year-over-year basis.”

DS News- “NCUA Targets JPMorgan in Another Securities Suit” (1-7-13)

“The National Credit Union Administration (NCUA) filed its 10th action against a major Wall Street investment firm—this time, the defendant is JPMorgan Securities.”

Los Angeles Times- “Solidifi and Kirchmeyer Unite to Create Appraisal Superfirm” (1-7-13)

“Solidifi and Kirchmeyer & Associates, two of the top independent real estate appraisal firms in the industry, are combining forces to create a super company, one that will make Solidifi the third largest independent provider of residential real estate in the country.”

Hard Money Loan Closed

La Quinta, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $178,000 on a 4 bedroom, 2 bathroom home appraised for $277,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at Coachella Valley tomorrow, January 8, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at SocalREIA on Thursday, January 10, 2013

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at the Apartment Owners Association on Thursday, January 17, 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.

Tags: , , , , , , , , , , , , , , , ,
Posted in News | No Comments »

The Norris Group Real Estate News Roundup 12/06/12

Thursday, December 6th, 2012

Today’s News Synopsis:

The Mortgage Bankers Association reported delinquency rates for commercial and multifamily mortgage loans decreased in the third quarter.  Short sales and pre-foreclosure sales showed a 15% and 17% increase in the third quarter according to RealtyTrac.  Freddie Mac reported 30-year mortgage rates increased ever so slightly to 3.34%.

In The News:

DS News- “RealtyTrac: Short Sales, Pre-Foreclosure Sales Increase in Q3″ (12-6-12)

“Although short sales continue to be utilized more and more as an alternative to foreclosure, RealtyTrac suggested the trend may change if the Mortgage Debt Relief Act of 2007 does not get extended.”

Mortgage Bankers Association- “Commercial/Multifamily Mortgage Delinquency Rates Down in Third Quarter” (12-6-12)

“Delinquency rates decreased for commercial and multifamily mortgage loans in the third quarter, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report.”

Realty Times- “Unusual ‘Perfect Storm’ Threatens Housing Recovery” (12-6-12)

“It’s not just the fiscal cliff that poses a threat to the recovering housing market.  Toss in winter weather that could bring another nasty climatic event like Hurricane-Tropical Storm Sandy – except with the white stuff – and you’ve got a two-headed perfect storm that could really stall the housing recovery.”

NAHB- “Number of Improving Housing Markets Surges to 201 in December” (12-6-12)

“The number of housing markets considered “improving” according to parameters established by the National Association of Home Builders/First American Improving Markets Index (IMI) surged by 76 to a total of 201 metros in December, according to IMI data released today.”

Housing Wire- “Donovan outlines FHA recovery plans to avoid Treasury draw” (12-6-12)

“Housing and Urban Development Secretary Shaun Donovan testified before the Senate Banking, Housing and Urban Affairs Committee following the Federal Housing Administration’s actuarial report on Thursday to address the necessary steps that need to be taken in 2013 to avoid a first-time Treasury draw.”

Los Angeles Times- “Freddie Mac says typical 30-year mortgage rate up a hair at 3.34%” (12-6-12)

“Mortgage interest rates edged higher from record lows this week, with lenders offering the 30-year fixed loan to solid borrowers at an average of 3.34%, Freddie Mac said in its latest survey.”

DS News- “NJCC Selected to Buy 399 Distressed Loans Through HUD Program” (12-6-12)

“New Jersey Community Capital (NJCC) was selected as part of HUD’s Distressed Asset Stabilization Program (DASP) to purchase 399 troubled loans, the nonprofit announced Tuesday.”

DS News- “Radian Reports November Delinquencies” (12-6-12)

“Radian Guaranty Inc. reported it wrote $3.84 billion in new mortgage insurance in November.”

Hard Money Loan Closed

San Bernardino, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $84,000 on a 3 bedroom, 2 bathroom home appraised for $140,000.

 

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.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at IRCA Los Angeles on Wednesday, January 2, 2012.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at Coachella Valley on Tuesday, January 8, 2012.

Looking Back:

According to Bloomberg news, Bannk of America reached a settlment with investors from whom they faced a lawsuit, agreeing to pay $315 million.  Pending home sales increased in October 2011 according to the National Association of Realtors.  Fifteen euro currency union members were reviewed by Standard & Poors to see if they would be downgraded.

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: , , , , , , , , , , , , , , , , , , ,
Posted in News | No Comments »

The Norris Group Real Estate News Roundup 10/4/12

Thursday, October 4th, 2012

Today’s News Synopsis:

Mortgage rates are at record lows once again with 30-year rates at 3.36% and 15-year at 2.69%.  Jobless claims went up again last week by 4,000, putting claims for unemployment now at 367,000.  Foreclosure activity also decreased last month for the fourth month in a row and have shown a 7.1% decrease from the same time last year.


In The News:

CNN Money- “Mortgage rates hit record low again” (10-4-12)

“Mortgage rates fell to a new record low after the Federal Reserve’s decision to buy billions in home loans continued to ease costs for home owners and buyers.”

DS News- “First-Time Unemployment Claims Inch Up” (10-4-12)

“First-time claims for unemployment insurance edged up by 4,000 to 367,000 for the week ended September 29, the Labor Department reported Thursday.”

Bloomberg – “Subprime Gains 30% as Goldman, Cerberus Target Market” (10-4-12)

“U.S. home-loan securities without government backing, the debt that sparked the worst financial crisis since the Great Depression, shrank last quarter to less than $1 trillion for the first time in eight years, leaving fewer bonds to meet soaring demand as housing recovers.”

Housing Wire – “Galante: FHA will not participate in REO-to-rental” (10-4-12)

“Acting Federal Housing Administration commissioner Carol Galante told a crowd of mortgage professionals her institution will not initiate an REO-to-rental program similar to Fannie Mae. ”

NAHB – “List of Improving Housing Markets Eclipses 100 in October” (10-4-12)

“A total of 103 housing markets across the United States qualified to be listed on the National Association of Home Builders/First American Improving Markets Index (IMI) for October, released today.”

Inman – “Foreclosures down for 4th month in a row in August” (10-4-12)

“The number of U.S. foreclosures dropped for the fourth month in a row in August, according to a monthly foreclosure report released today by real estate data aggregator CoreLogic.”

CNN Money – “Credit card delinquencies drop to 11-year low” (10-4-12)

“Credit card customers are more responsible than they’ve been in over a decade.  Delinquencies on credit cards issued by banks dropped to the lowest level since 2001 during the second quarter, according to a report from the American Bankers Association released Thursday.”

Housing Wire – “Home prices on the rise in nation’s swing states: Trulia” (10-4-12)

“Real estate data provider Trulia says home prices in six out of seven presidential swing states are on the rise.”

DS News- “Survey: 32% of Americans Justify Strategic Default” (10-4-12)

“The housing crises seems to have led Americans to take a less critical view of strategic default.  According to a recent survey that polled 1,026 U.S. adults, 32 percent stated they believe homeowners should be able to strategically default without facing consequences.”

Mortgage Bankers Association- “MBA Analysis Pegs 2011 Multifamily Lending at $110 billion, Up 60% From 2010″ (10-4-12)

“In 2011, 2,653 different multifamily lenders provided a total of $110.1 billion in new mortgages for apartment buildings with five or more units, according to a report from the Mortgage Bankers Association (MBA).”

Hard Money Loan Closed

Palm Desert, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $80,000 on a 3 bedroom, 2 bathroom home appraised for $141,000.

 

Bruce Norris of The Norris Group will be at the Apartment Owners Association in Los Angeles on Wednesday, October 17, 2012.

The Norris Group is holding its fifth annual I Survived Real Estate 2012 in Yorba Linda on Friday, October 19, 2012.

Bruce Norris of The Norris Group will be at the OC Investors Club in Tustin on Friday, October 26, 2012.

Looking Back:

Inman News reported a 20% increase in foreclosure starts on a month-by-month basis from July to August.  CoreLogic released a new report forecasting that mortgage frauds would decrease 40% in the coming year.  In other news, the National Association of Realtors reported a 1.2% decrease in pending home sales for the month of August 2011.

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: , , , , , , , , , , , , , , ,
Posted in News | No Comments »

The Norris Group Real Estate News Roundup 9/17/12

Monday, September 17th, 2012

Today’s News Synopsis:

After weeks of no closures, another bank closed in Missouri last Friday, bringing the new total now to 42.  Home prices in California increased 2.3% last 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 is now at 99 as of this month.


In The News:

Sacramento Business Journal – “It’s much cheaper to buy than rent in Sacramento” (9-14-12)

“New information from Trulia, which tracks residential real estate values, contends home prices and interest rates are so low that it is 39 percent cheaper to buy a house than to rent the same size property in the Sacramento region.”

Housing Wire – “Fannie Mae moving REO management in-house” (9-17-12)

“The use of third parties to help Fannie Mae sell its REO properties is coming to an end.  Fannie Mae notified remaining vendors that the government-sponsored enterprise will transition all REO sales work completely to Fannie Mae’s in-house teams over the course of the next several months.”

DS News – “Missouri Bank Failure Brings Tally to 42″ (9-17-12)

“Truman Bank became the 42nd community bank to shutter its doors on Friday, falling under the weight of bad commercial loans with $282.3 million in total assets.”

Realty Times – “Real Estate Outlook: Days on Market Shrinking” (9-17-12)

“The National Association of Realtors has adjusted the way they measure the typical amount of time it takes for a home to sell and this new scale shows days on market are shrinking.”

Mortgage Bankers Association – “Pete Mills to Lead MBA’s Residential Policy and Member Services” (9-17-12)

“David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA), today announced the appointment of Pete Mills as Senior Vice President, Residential Policy and Member Services, effective October 1, 2012.”

DS News – “List of Improving Markets Rises to 99 in September: NAHB” (9-17-12)

“The number of improving housing markets in September climbed to 99 from 80 in August, according to the National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI).”

Housing Wire – “CFPB, HUD face disparate impact mortgage lending dilemma” (9-17-12)

“Lenders wanting to know the exact definition of discriminatory lending will have to wait until the Consumer Financial Protection Bureau releases its final ability-to-repay rule under the Dodd-Frank Act next January.”

DS News – “Improving the Appraisal Process to Minimize Risks: Report” (9-17-12)

“Appraisals may assign a home with one exact specific value, but in reality, a home’s value tends to fall into a price range due to a number of different factors, according to a Home Value Forecast report released by Pro Teck Valuation Services and Collateral Analytics.”

Housing Wire – “NAR calls for easier mortgage lending” (9-17-12)

“Regulators and lenders could spur the creation of 250,000 to 350,000 jobs by easing tight lending standards that are causing an overcorrection in the space, the National Association of Realtors said Monday.”

Inman – “California home prices reach 4-year high” (9-17-12)

“Persistently declining for-sale home inventory helped push the median price of California homes up to its highest level in four years in August, according to a report released today from the California Association of Realtors.”

Hard Money Loan Closed

Fullerton, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $420,000 on a 4 bedroom, 3 bathroom home appraised for $752,000.

 

Bruce Norris of The Norris Group will be at the InvestClub for Women in Los Angeles tomorrow, September 18, 2012.

Bruce Norris of The Norris Group will be at the InvestClub for Women in Orange County Wednesday, September 19, 2012.

Bruce Norris of The Norris Group will be at the Real Wealth Game Changers Expo in Costa Mesa Friday-Sunday, September 28-30, 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: , , , , , , , , , , , , , , , , ,
Posted in News | No Comments »

The Norris Group Real Estate News Roundup 7/16/12

Monday, July 16th, 2012

Today’s News Synopsis:

Another bank closed in Missouri, bringing the new total now to 33.  The FHFA reported an increase in underwater borrowers who switched to shorter-term loans as a way to quickly restore equity in their homes.  The LPS home price index increased the most this year since 2005.


In The News:

Housing Wire – “More underwater borrowers shorten mortgage under HARP” (7-16-12)

“More Fannie Mae and Freddie Mac borrowers who owe more on their mortgage than their home is worth chose to refinance into shorter-term loans in order to rebuild equity faster, according to the Federal Housing Finance Agency.”

DS News – “LPS: Home Price Index Increasing at Fastest Rate Since 2005″ (7-16-12)

“Lender Processing Services, Inc.‘s (LPS) Applied Analytics division released its updated home price index (HPI), showing that although prices fell year-over-year, the HPI increase from this year’s low has been the most significant jump up in years.”

Inman – “Lenders using new credit score may approve more loans” (7-16-12)

“Mortgage lenders now have access to a new credit score designed to uncover potential borrowers’ hidden credit histories and more accurately predict mortgage loan performance.”

CNN Money – “Citigroup earnings bolstered by lending” (7-16-12)

“Citigroup (C, Fortune 500) reported second-quarter earnings that topped forecasts even as revenue fell short of estimates.”

Housing Wire – “Fannie Mae to train mortgage servicer single points of contact” (7-16-12)

“Fannie Mae opened training to call center employees at mortgage servicing shops around the country.”

DS News – “Missouri Bank Closes, National Tally at 33″ (7-16-12)

“Missouri saw its first bank casualty of 2012 Friday as FDIC announced that Glasgow Savings Bank of Glasgow, Missouri, was closed down by the state’s finance division.”

Realty Times – “Real Estate Outlook: Improving Markets” (7-16-12)

“The latest list from the National Association of Home Builders/First American Improving Markets Index (IMI) includes 84 metro areas for the month of July.”

DS News – “HARP Accounts for 20% of Refinances in May: FHFA” (7-16-12)

“With the help of record-low mortgage rates, HARP refinances surged in May, accounting for 20 percent of all loans refinanced by the GSEs, FHFA announced Monday.”

Hard Money Loan Closed

Corona, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $105,000 on a 3 bedroom, 2 bathroom home appraised for $174,000.

 

Bruce Norris of The Norris Group will be at the AREAA 2012 Home Buyer & Real Estate Investment Fair Saturday, July 21, 2012.

Bruce Norris of The Norris Group will be at the InvestClub for Women in Los Angeles Tuesday, September 18, 2012.

The Norris Group posted a new event. Bruce Norris of The Norris Group will be at the InvestClub for Women in Orange County Wednesday, September 19, 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: , , , , , , , , , ,
Posted in News | No Comments »

The Norris Group Real Estate News Roundup 7/9/12

Monday, July 9th, 2012

Today’s News Synopsis:

Another bank closed in Georgie, bringing the total now to 32.  However, the bigger news is that the bank closed and the director disappeared after accusations of embezzlement and fraud.  Optimism in the housing market increased for the month of June despite confidence being unsteady.  Foreclosure starts increased 2.8% from last year according to the Lender Processing Services.


In The News:

Los Angeles Times – “Inland Empire industrial real estate market is looking up”  (7-8-12)

“The industrial real estate market in the Inland Empire’s east valley, where many international companies have distribution hubs, is in full recovery, real estate brokers said.”

Housing Wire – “LPS: Foreclosure starts up 2.8% from one year ago” (7-9-12)

“Mortgage servicers started more foreclosures in May than a year ago, the first year-over-year increase since early 2011, according to Lender Processing Services ($25.32 -0.15%) data.”

DS News – “June Sees Housing Confidence Boost in Spite of Economic Worries” (7-9-12)

“Downturns in economic confidence hasn’t shaken consumers’ optimism in the housing market, Fannie Mae’s National Housing Survey for June showed.”

Realty Times – “Housing to Play Key Role in Election” (7-9-12)

“Washington and the housing market are never far apart. Experts ranging from real estate professionals to the members of the Federal Reserve have reported that the state of the nation’s economic recovery relies heavily on a housing recovery.”

DS News – “Mortgage-Related Business Closings Down from Year Ago: Mortgage Daily” (7-9-12)

“Fewer mortgaged-related businesses had to shut down their doors during the first six months of this year compared to the same time period a year ago in 2011, according to the Mortgage Graveyard report released by Mortgage Daily.”

NAHB – “84 Metros Listed As Improving Housing Markets in July” (7-9-12)

“The list of U.S. housing markets showing measurable and sustained improvement rose by four to include 84 metros in July, according to the National Association of Home Builders/First American Improving Markets Index (IMI), released today.  This number includes representatives from 32 states plus the District of Columbia.”

Housing Wire – “Fitch sees no sign of strategic default for rising principal reductions” (7-9-12)

“Few, if any, borrowers strategically defaulted to take advantage of mortgage servicer relief under the $25 billion settlement struck in March, according to Fitch Ratings.”

DS News – “Georgia Bank Closes After Director Disappears” (7-9-12)

“The FDIC announced Friday the closure of Montgomery Bank & Trust in Ailey, Georgia, after the disappearance of the bank’s director.”

CNN Money – “Overpaid unemployment benefits top $14 billion” (7-9-12)

“Don’t spend that unemployment check too fast. The government might ask you to pay it back.”

Hard Money Loan Closed

San Bernardino, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $73,000 on a 3 bedroom, 2 bathroom home appraised for $123,000.

 

Bruce Norris of The Norris Group will be at the AREAA 2012 Home Buyer & Real Estate Investment Fair Saturday, July 21, 2012.

Bruce Norris of The Norris Group will be at the InvestClub for Women in Los Angeles Tuesday, September 18, 2012.

The Norris Group posted a new event. Bruce Norris of The Norris Group will be at the InvestClub for Women in Orange County Wednesday, September 19, 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: , , , , , , , , , , , , , , , , ,
Posted in News | No Comments »

« Older Entries