Today’s News Synopsis:
Home prices gained momentum in 20 cities according to the latest S&P/Case-Shiller Index, having shown an increase of 4.6% year-over-year. Rental investments for single families homes is still showing positive signs despite the sale of homes to institutional investors being at its lowest in four years. A recent survey from Hammerhouse showed only a little over 50% of mortgage originators were not satisfied with their job but yet expect to see improvements coming in the future.
In The News:
Housing Wire – “Single family rental investment still strong among smaller investors” (2-24-15)
“Last week RealtyTrac reported that the share of home sales to institutional investors and all-cash buyers dropped to four-year lows in 2014 despite a quarterly increase in the fourth quarter.”
Bloomberg – “Home-Price Gains in 20 U.S. Cities Accelerated in December” (2-24-15)
“Home prices in 20 U.S. cities appreciated at a faster pace in the year ended in December, a sign that a limited supply is forcing up property value. The S&P/Case-Shiller index of property values increased 4.5 percent from December 2013, after rising 4.3 percent in the year ended in November, a report from the group showed Tuesday in New York.”
DS News – “Auction.com Announces Promotions” (2-24-15)
“The nation’s leading online real estate marketplace, Auction.com, has recently moved two individuals up within the company – Lee Leslie has been named EVP and chief legal officer, and EVP Gordon Smith has been tapped for the position of general manager in the company’s commercial real estate division.”
Housing Wire – “MBA Servicing: Be proactive and work with state AGs on complaints” (2-24-15)
“Complex interactions between state and federal regulations and the conflicts that often arise make the difficult job of mortgage finance and servicing all the more difficult.”
Mortgage Professional America – “Survey finds low satisfaction, high hopes among originators” (2-24-15)
“While mortgage originators have begun to see the light at the end of tunnel, their headaches are far from over, according to the latest survey conducted by recruiting firm Hammerhouse.”
OC Housing News – “Existing home sales hammered; 2015 housing hopes pounded” (2-24-15)
“To make people feel good for the holidays and to fill the void in real estate news from November to February, reporters entreat us to optimistic news stories and wild projections of how great the coming year will be for home sales and prices.”
Housing Wire - “Home Depot profit rises on housing market recovery” (2-24-15)
“Home improvement store Home Depot (HD) reported net earnings for the fourth quarter of $1.4 billion, or $1.05 per diluted share, compared with net earnings of $1.0 billion, or $0.73 per diluted share, in the same period of fiscal 2013.”
Mortgage Professional America – “Mortgage REIT to acquire Ocwen spinoff for $1.3B” (2-24-15)
“Mortgage REIT New Residential Investment Corp. has agreed to purchase Ocwen Financial spinoff Home Loan Servicing Solutions (HLSS) for $1.3 billion, just weeks after HLSS was urged to cut ties with Ocwen.”
Hard Money Loan Closed
Victorville, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $117,000 on a 3 bedroom, 2.5 bathroom home appraised for $180,000.
Bruce Norris of The Norris Group will be speaking at AOA Anaheim presenting How to create a $100,000 Payday Per Deal in 2015 TODAY.
Bruce Norris of The Norris Group will be holding his Norris Group Property Buying Bootcamp Tuesday, March 3 through Thursday, March 5.
Bruce Norris of The Norris Group will be speaking at Coldwell Banker’s 2015 Real Estate Forecast Wednesday, March 4.
In order to sell off their REO properties, Fannie Mae and Freddie Mac allowed both real estate agents and homebuyers access to limited-time incentives established through two separate programs. Despite new QM guidelines put in place by the CFPB, risk continued to remain high for mortgages. Katie Reynolds Johnson was chosen as the new general counsel for the National Association of Realtors.
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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