The Norris Group Blog

California Real Estate Headline Roundup

Posts Tagged ‘Home Data Index’

By Bruce Norris .

The Norris Group Real Estate News Roundup 5/8/13

Wednesday, May 8th, 2013


Today’s News Synopsis:

The Mortgage Bankers Association reported a 7% increase in mortgage applications from last week.  Freddie Mac reported their net income for the latest quarter was their second largest, and they will now pay $7 billion to the Treasury Department.  According to TransUnion, delinquency rates showed their biggest improvement since 1992.

In The News:

Housing Wire - “Suspicious loan activity reports shrink first time in a decade” (5-8-13)

“The number of suspicious activity reports from banks citing possible loan fraud decreased by 29% last year, the first drop in 16 years.”

DS News – “Trulia: Job Growth Aids Asking Home Prices, Creates New Households” (5-8-13)

“Asking home prices posted the strongest gains in cities where job growth was also solid, according to Trulia.”

Bloomberg - “Freddie Mac to Pay Treasury $7 Billion on Quarterly Profit” (5-8-13)

“Freddie Mac, the U.S.-owned mortgage-finance company, will pay $7 billion to the Treasury Department after reporting the second-largest quarterly net incomein the company’s history..”

DS News - “TransUnion: Delinquency Rate Sees Biggest Improvement Since 1992″ (5-8-13)

“The national mortgage delinquency rate recorded its biggest improvement since the credit bureau began keeping track in 1992, TransUnion reported Wednesday.”

Mortgage Bankers Association - “Mortgage Applications Increase in Latest MBA Weekly Survey” (5-8-13)

“Mortgage applications increased 7.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 3, 2013.”

Housing Wire - “California Homeowner Bill of Rights blocks BofA foreclosure” (5-8-13)

“A California man successfully halted a foreclosure sale on his property using the newly minted California Homeowner Bill of Rights to obtain a court injunction against two foreclosing parties: Bank of America and its ReconTrust Co. subsidiary.”

DS News – “Home Prices on Path to Stabilization This Year” (5-8-13)

“After coming to a “turning point” last year, the housing market is now stabilizing, according to Clear Capital’s monthly Home Data Index,. This year, Clear Capital expects price gains to slow.”

Hard Money Loan Closed

Rialto, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $65,000 on a 2 bedroom, 1 bathroom home appraised for $120,000.

 

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.

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

Looking Back:

Home prices increased 0.6% from February to March as a result of inventory decreasing.  More people were able to afford homes on this day with payments on conventional mortgages representing 12% of median-family income.  Shaun Donovan made an announcement today that refinancing should be made easier for homeowners.

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.

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The Norris Group Real Estate News Roundup 7/10/12

Tuesday, July 10th, 2012

Today’s News Synopsis:

Clear Capital reported home prices increased across all four regions of the United States in June, both for the quarter and the year.  Governor Jerry Brown signed a new law into legislation that will not let homeowners be liable for debts greater than the value of their properties should they default on their mortgages.  The asking prices on homes for sale increased in the last four months, although this is actually a risk because the ones who had the most to gain from the market also had a record of foreclosures.


In The News:

DS News – “Clear Capital Reports Rising Prices Across All Regions” (7-10-12)

“National home prices saw both quarterly and yearly gains in June, and all four regions across the U.S. posted quarterly increases, according to the Home Data Index (HDI) released by Clear Capital Tuesday.”

Housing Wire – “ALTA: Proposed CFPB closing rule could reduce title agent role” (7-10-12)

“The American Land Title Association applauds the Consumer Financial Protection Bureau for creating its final round of prototype mortgage disclosure forms, but the association said it remains wary of a proposal that could remove settlement agents from a key part of the loan closing process.”

NAHB – “New NAHB Publication Provides Builder-Tested Strategies to Survive and Thrive in any Market” (7-10-12)

“Business owners often learn how to run a successful company the hard way—through trial and error. Builders no longer have to rely on this haphazard approach to entrepreneurship.”

Realty Times – “New California Law Allows Greater Responsibility For Branch Managers” (7-10-12)

“Effective July 1 of this year, California brokers of large and/or multi-office real estate firms can, if they choose, take steps that will enable them to rest and breathe more easily.”

Inman – “Regulators propose new mortgage disclosure forms” (7-10-12)

“After a year and a half of research and review, the Consumer Financial Protection Bureau released simplified mortgage disclosure forms Monday that it hopes will make it easier for borrowers to understand the terms and costs of their loans and therefore be a step toward “restoring trust in the mortgage market” after the housing bubble.”

Los Angeles Times – “Governor signs homeowner foreclosure limit” (7-10-12)

“Homeowners who default on refinanced mortgages won’t be liable for debts that exceed the market value of their lost properties.”

Housing Wire – “Mortgage lenders cringe at substantial litigation costs under QM” (7-10-12)

“Mortgage bankers cringed at the latest litigation cost estimates they could face should the Consumer Financial Protection Bureau craft the Qualified Mortgage rule without a safe harbor.”

DS News – “Zillow Lists 10 Best Markets for Buyers and Sellers” (7-10-12)

“San Francisco, San Jose, and Las Vegas metro areas were named as the top markets for sellers, while Chicago, Milwaukee, and Cleveland were categorized as markets where buyers have more power, according to a report released from Zillow Tuesday.”

Inman – “Home price gains at risk in distressed markets” (7-10-12)

“Asking prices for for-sale homes nationwide have risen in the last four out of five months, but the biggest market gainers also have foreclosure backlogs putting those increases at risk, according to a monthly report from real estate search and marketing site Trulia.”

Hard Money Loan Closed

Ontario, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $177,000 on a 4 bedroom, 2 bathroom home appraised for $282,000.

 

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.

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The Norris Group Real Estate News Roundup 6/5/12

Tuesday, June 5th, 2012

Today’s News Synopsis:

CoreLogic reported home prices increased 1.1% percent in April and are expected to show an increase in the month of May.  Clear Capital also reported in their May 2012 Home Data Index that home prices increased both yearly and quarterly at 0.4% quarterly and 0.1% yearly. CMBS delinquncy rates increased slightly to 0.23% in the first quarter, although for CRE mortgages the delinquency rates decreased to 0.37%.

In The News:

Bloomberg – “Growth Slowdown Seen in U.S. as Recession Dodged: Economy” (6-4-12)

“The U.S. economy looks set to deliver a repeat performance in 2012: for the third straight year, it may suffer a swoon yet not slip into a recession.”

DS News – “CoreLogic: HPI Increased in April, Will Continue in May” (6-5-12)

“Home prices across the nation rose in April, and a further increase is expected for May’s index, according to CoreLogic’s April Home Price Index (HPI) report.”

Housing Wire – “Delinquency rates on CRE mortgages fall, but rise on CMBS” (6-5-12)

“Delinquency rates on commercial mortgages, including multifamily loans, declined for banks in the first quarter while rising for commercial mortgage-backed securities, an industry trade group said.”

Realty Times – “Supreme Court Decides RESPA Case On Unearned Fees” (6-5-12)

“On May 24 of this year, the Supreme Court of the United States issued its decision in the case of Freeman et al. v. Quicken Loans, Inc..”

DS News – “Clear Capital: Prices See First Quarterly and Yearly Gain Since August ’10″ (6-5-12)

“For the first time since August 2010, home prices rose on both a quarterly and yearly basis, according to the May 2012 Home Data Index (HDI) report released by Clear Capital.”

Housing Wire – “Morgan Stanley, JPMorgan, Goldman see cracks in earnings potential” (6-5-12)

“Big investment banks Morgan Stanley ($12.75 0.39%), JPMorgan ($32.03 1.03%) and Goldman Sachs ($92.13 1.13%) are facing weakening revenues and a confluence of negative factors that are making the firms’ outlooks turn bleak.”

DS News – “Asking Prices Flat in May While Rent Increases: Trulia” (6-5-12)

“Asking prices fell flat in May after three consecutive monthly increases while also decreasing from the year before, according to reports from Trulia.”

CNN Money – “State economic growth slowed in 2011″ (6-5-12)

“States’ economic growth slowed sharply in 2011, coming in at half of the previous year’s rate.  Real gross domestic product by state grew 1.5% last year, after increasing 3.1% in 2010, according to a U.S. Bureau of Economic Analysis report released Tuesday.”

Inman – “Real estate industry ducks a mortgage bullet” (6-5-12)

“With the Consumer Financial Protection Bureau’s decision to put off action on its controversial “qualified mortgage” (QM) regulation, the real estate and mortgage finance industries have ducked a bullet, probably until the November elections are over.”


Hard Money Loan Closed

Lancaster, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $61,000 on a 3 bedroom, 2 bathroom home appraised for $102,000.

 

California Real Estate Investor Events

Bruce Norris of The Norris Group will be at the Predictive Methods Conference today.

Bruce Norris of The Norris Group will be at the The Appraisal Institute’s 15th Annual Inland Empire Market Trends Seminar on Thursday, June 7, 2012.

The Norris Group posted a new event. Bruce Norris of The Norris Group will be at the NSDREI 8th Anniversary Dinner Party Tuesday, June 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.

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The Norris Group Real Estate News Roundup 12/09/11

Friday, December 9th, 2011

Sources:

U.S. Mortgage Debt Falls to Five-Year Low as Consumer Wealth Effect Fades
Index Shows Continued Improvement for Apartment and Condominium Market
S&P puts 15 eurozone governments on notice
U.S. household wealth takes biggest hit since 2008
Third straight month of home price declines
Jobless claims drop to lowest level since February
Real Estate Prices Fall in China, Inciting Anger and Applause: Adam Minter
BofA to Settle Mortgage Securities Action for $315 Million
Feds, Banks Postpone Foreclosure Evictions Until 2012

Today’s News Synopsis:

In this week’s video, Aaron Norris gives the news of the week in the world of real estate and other big events. In a big story, mortgage debt decreased in the third quarter to the lowest that has been seen in almost five years.  CMBS delinquencies decreased again in November, marking the fourth month in a row to witness a decrease in delinquencies.

In The News:

Housing Wire - “CMBS delinquencies decline for fourth straight month” (12-09-11)

“Delinquencies on commercial mortgage-backed securities declined for the fourth consecutive month in November, suggesting this segment of the market is holding up, Fitch Ratings said Friday.”

Realty Times - “Mortgage Rates Stay Low Helping to Keep Housing Affordability High” (12-09-11)

“In Freddie Mac’s results of its Primary Mortgage Market Survey®, the average fixed mortgage rates remained largely unchanged and near their record lows helping to keep housing affordability high for those borrowers who are in the market.“

San Francisco Chronicle - “Mortgage debt at lowest level in nearly 5 years” (12-09-11)

“U.S. mortgage debt, a driver of consumer spending during the real  estate boom, dropped to the lowest level in almost five years in the third  quarter as foreclosures wiped out home loans and housing purchases fell.”

Housing Wire - “Consumer sentiment index up again in December” (12-09-11)

“Consumer sentiment rose for the fourth straight month in a preliminary December reading of the Thomson Reuters/University of Michigan index Friday.”

DS News – “Housing Market Sees Signs of Stability: Clear Capital” (12-09-11)

“The housing market may be stabilizing as house prices and REO saturation rates show little change on a quarterly and yearly basis, according to Clear Capital’s most recent Home Data Index.”

Los Angeles Times – “Economy boosted by narrowing trade deficit” (12-09-11)

“The U.S. economy, which has been picking up steam recently, got another boost from the latest trade numbers.  The Commerce Department said Friday that the nation’s trade deficit in October narrowed to $43.5 billion, the lowest level since December 2010.”

Hard Money Loan Closed

Rialto, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $125,000 on a 4 bedroom, 2.5 bathroom home appraised for $200,000.

In The News:

Housing Wire – “Fitch expects ailing real estate markets to improve” (12-09-11)

“The commercial and residential real estate markets will continue to slide along the bottom into 2012, but will experience more footholds than missteps on the journey.”

Bloomberg - “Solow May Be Seeking to Finance 9 W. 57th, Commercial Mortgage Alert Says” (12-09-11)

“New York developer Sheldon Solow may be seeking about $600 million of financing for 9 West 57th St., his trophy office tower near Central Park in midtown Manhattan, Commercial Mortgage Alert said today.”

DS News - “Bill Proposes Limitations on Deficiency Judgments” (12-09-11)

“Rep. Ed Towns (D-New York) has introduced a new bill to limit the period of time during which a bank can bring deficiency judgments against foreclosed borrowers.”

California Real Estate Investor Events:

The Norris Group will be at the Real Estate Investor Rewind at SDCIA on December 13, 2011.

The Norris Group posted a new event. Bruce Norris will be speaking at the Real Estate Rewind at IRCA Los Angeles on January 3, 2012.

Looking Back:

The NAR reported pending home sales increased 10.4% in October 2010. According to RealtyTrac, foreclosure sales decreased 25% in the 3rd quarter of 2010. Statistics from the Labor Department showed jobless claims rose 6.3% the previous week. Greg Lippmann of LibreMax Capital predicted national home prices would drop another 10%.

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.

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