Today’s News Synopsis:
Repeat foreclosures increased 2% month-over-month, bringing them to a total of 53% of all foreclosure starts in September. Consumer optimism regarding the housing market is slowly starting to improve according to the latest Fannie Mae survey. The value of homes is also continuing to slowly improve according to Quicken Loans, having increased 3.35% year-over-year in October.
In The News:
Housing Wire – “Real estate lands spot on S&P Indices” (11-11-14)
“After almost 16 years of absolutely no changes, the S&P Dow Jones Indices announced it is updating its select sector indices to accommodate a new and growing asset class: the real estate sector.”
Mortgage Professional America – “More refinancers are cashing out equity — but will they trend continue?” (11-11-14)
“More borrowers are refinancing to tap their homes’ equity, according to new data from Freddie Mac. Borrowers cashed out about $8 billion in home equity through refinancing in the third quarter, according to Freddie’s latest refinancing report.”
OC Housing News – “Pressure will mount to lower FHA insurance fees to revive home sales” (11-11-14)
“I believe the FHA will come under intense pressure to lower the FHA insurance fees in order to increase home sales to first-time homebuyers. So why do I believe that? I recently noted that first-time homebuyer participation rates hit a three-decade low, a major problem for the long-term health of the housing market.”
Bloomberg – “Goldman Sachs Arranges $1.15 Billion Loan for Dubai Parks” (11-11-14)
“Goldman Sachs Group Inc. arranged a 4.2 billion-dirham ($1.15 billion) loan for Dubai Parks & Resorts to fund the development of a theme park in the emirate. The deal has been underwritten by the New York-based bank, Abu Dhabi Commercial Bank PJSC (ADCB), Commercial Bank International PSC, Emirates NBD PJSC (EMIRATES), and Noor Bank, Dubai Parks & Resorts said today in a statement.”
Realty Trac – “The Coming ‘Big Shift’ In Housing” (11-11-14)
“In the next 20 years, a seismic shift will take place in residential real estate. Increasingly, America’s aging baby boomer population (born from 1946 to 1964) will begin to downsize and sell their homes.”
Mortgage Professional America – “Optimism about housing gradually improving” (11-11-14)
“Americans’ optimism about the housing market is still improving, although gradually, according to the latest housing survey from Fannie Mae. That optimism may drive further housing market gains in 2015.”
Housing Wire – “Quicken Loans: Home values continue growing but slowly” (11-11-14)
“Quicken Loans’ October 2014 home value index shows home values continuing to climb nationally, and in the majority of metro areas. Home values increased 2.03% from September to October 2014 and climbed 3.35% since October 2013.”
DS News – “Repeat Foreclosure Percentage Increases to Tie All-Time High” (11-11-14)
“The percentage of September’s foreclosure starts that were repeat foreclosures rose by two percentage points month-over-month to account for 53 percent of foreclosure starts, tying the highest percentage for a single month, according to Black Knight Financial Services’ September 2014 Mortgage Monitor.”
Bruce Norris of The Norris Group will be holding his Property Buying Boot Camp Tuesday-Thursday, November 11-13.
Bruce Norris of The Norris Group will be speaking at SDCIA presenting How to create a $100,000 Payday Per Deal in 2015 on Tuesday, December 9.
Bruce Norris of The Norris Group will be speaking at LAREIA presenting How to create a $100,000 Payday Per Deal in 2015 on Wednesday, December 10.
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