California Real Estate Headline Roundup

Posts Tagged ‘RealtyTrac’

By Bruce Norris .

Risk Retention Rule Approved by Six Federal Agencies

Thursday, October 23rd, 2014

Copyright: Image from www.flickr.com/photos/renaissancechambara/

 

 

Today’s News Synopsis:

The new risk-retention rule has finally and officially been approved by six federal agencies.  Mortgage rates decreased this past week with 30-year rates now at 3.92% and 15-year rates at 3.08%.  Home prices in the U.S. increased 0.5% in August, above economists’ expectations.

 

In The News:

Housing Wire“Fannie Mae: Positive on U.S. economy despite global growth decline” (10-23-14)

“Real economic growth in the U.S. appears ready to exceed 3% for the second half of the year, providing a sound basis for growth in 2015, according to Fannie Mae’s Economic & Strategic Research Group.”

Bloomberg - “U.S. Mortgage Rates Fall With 30-Year at 3.92%” (10-23-14)

“Mortgage rates in the U.S. declined, remaining at a 16-month low as more affordable borrowing costs fuel an increase in refinancing.”

Housing Wire - “It’s official” Risk retention rule approved” (10-23-14)

“The final version of the risk retention rule is now officially approved by six federal agencies, following the Federal Reserve’s last approval on Wednesday.”

OC Housing News“Regulators capitulate to lending industry lobbyists” (10-23-14)

“In a complete victory for lending industry lobbyists, the Qualified Residential Mortgage rules match the Qualified Mortgage rules.”

NAHB - “Remodeling Market Index Reclaims All-Time High” (10-23-14)

“The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) reclaimed the high-water mark of 57 in the third quarter of 2014. This is the sixth consecutive quarter for an RMI reading above 50.”

Housing Wire - “RealtyTrac: Seriously underwater homes hit 2-year low” (10-23-14)

“The amount of seriously underwater properties plunged to the lowest level in two years, with 8.1 million U.S. residential properties seriously underwater — where the combined loan amount secured by the property is at least 25% higher than the property’s estimated market value, RealtyTrac’s U.S. home equity and underwater report for the third quarter of 2014 said.”

Bloomberg“U.S. Home Prices Beat Estimates With 0.5% Gain in August” (10-23-14)

“U.S. home prices rose more than economists estimated in August as employment growth fueled demand for housing.  Prices climbed 0.5 percent on a seasonally adjusted basis from July, the Federal Housing Finance Agency said today in a report from Washington.”

 

On Friday, October 24, Bruce Norris will be presenting the 7th annual I Survived Real Estate 2014.

Bruce Norris of The Norris Group will be presenting Secrets to Becoming Wealthy with SJREI in Sunnyvale on Thursday, November 6.

Bruce Norris of The Norris Group will be holding his Property Buying Boot Camp Tuesday-Thursday, November 11-13.

 

Looking Back:

Mortgage delinquencies increased slightly the previous month by 4.23% according to the Lender Processing Services.  The FHFA reported home prices showed increases for 19 months straight with their recent increase of 0.3% in August.  The FHA has disputed some data on a recent CBO report, claiming some information was not accurate.

 

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.

Lending Business to Welcome An Interesting Member: Facebook

Tuesday, October 14th, 2014

 

Today’s News Synopsis:

A new recent poll by Bankrate.com showed more and more Americans are saving money with the uncertainty about the economy’s future and slow income growth.  Rumor has it Facebook will be doing more business with lending.  Another survey from RealtyTrac showed over 50% of housing markets have improved from two years ago.

In The News:

Housing Wire - “Citigroup 3Q revenue jumps to $19.6B” (10-14-14)

“Citigroup (C) posted net income for the third quarter 2014 of $3.4 billion, or $1.07 per diluted share, on revenues of $19.6 billion, compared to net income of $3.2 billion, or $1.00 per diluted share, on revenues of $17.9 billion for the third quarter 2013.”

DS News - “Survey Finds Consumer Spending Tight Despite Financial Security” (10-14-14)

“Stagnant income growth and uncertainties about the economy’s future have spurred more Americans to putting a tight lid on their monthly spending, according to a new poll.”

Bloomberg“Fannie Mae Common Shares Rally, Rebounding From Judge’s Ruling” (10-14-14)

“Fannie Mae and Freddie Mac common shares rose for a fifth day in New York trading, erasing most of their drop tied to a court ruling last month, while the companies’ preferred securities posted smaller gains.”

Housing Wire - “Is the era of buying homes with cash coming to an end?” (10-14-14)

“Cash sales are slowly turning into the endangered species of the industry, reaching the lowest share since august 2008.”

Mortgage Professional America“Social media giant to enter lending business” (10-14-14)

“With rumors already circulating about Facebook’s intention to offer payment services, the social media giant is now also believed to be looking at lending.”

DS News - “Study: 52 Percent of County Housing Markets ‘Better Off’ Than Two Years Ago” (10-14-14)

“A total of 811 U.S. county housing markets (52 percent) were rated as “better off” than they were two years ago, compared to only 11 percent (176 markets) categorized as “worse off,” according to RealtyTrac’s 2014 Election Housing Scorecard released on Tuesday.”

Housing Wire“Mortgage banking industry weighs in support for single GSE bond” (10-14-14)

“A common securitization platform and a single GSE bond is coming soon enough from the Federal Housing Finance Agency, and while details are still under discussion the mortgage banking industry is weighing in with their thoughts.”

OC Housing News“Is housing headed for another stimulus hangover?” (10-14-14)

“Ever since house prices began a steep, deep, and unprecedented decline in 2008, the government, lenders, and the federal reserve have changed policies and applied stimulus of various kinds to reverse the decline and reflate the previous bubble in order to restore collateral backing to bubble-era home loans to preserve the solvency of our banking system.”

 

Bruce Norris will be speaking at AOA’s Big Million Dollar Trade Show & Landlording Conference TOMORROW.

On Friday, October 24, Bruce Norris will be presenting the 7th annual I Survived Real Estate 2014.

Bruce Norris of The Norris Group will be presenting Secrets to Becoming Wealthy with SJREI in Sunnyvale on Thursday, November 6.

Bruce Norris of The Norris Group will be holding his Property Buying Boot Camp Tuesday-Thursday, November 11-13.

 

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.

New Home Purchase Applications Remain The Same From Last Week

Thursday, October 9th, 2014

Copyright: Image from www.flickr.com/photos/lumaxart/

 

 



Today’s News Synopsis:

New home purchase applications remain virtually the same from last week according to the latest Builder Application Survey by the Mortgage Bankers Association.  Freddie Mac reported mortgage rates, on the other hand, decreased to their lowest in a month with 30-year rates at 4.12% and 15-year rates at 3.3%.  HELOCS increased by 20.6% from last year with a total of 797,865 originated across the nation.

 

In The News:

Mortgage Bankers Association“Applications for New Home Purchases Unchanged in September” (10-9-14)

“The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for September 2014 shows mortgage applications for new home purchases remained unchanged relative to the previous month.”

Housing Wire“Auction.com launches Auction Finance to spur investor activity” (10-9-14)

“Seeking to expand on its pool of potential real estate buyers, Auction.com has created a new division to help commercial and residential real estate investors obtain financing.”

Bloomberg“Home Equity Loans Surge as Rates Fall to Lowest Since 2008″ (10-9-14)

“The 1960 Ray Charles lyric — “Them that’s got are them that gets” — rings true today in the U.S. mortgage market.  Lenders increased their origination of home equity lines of credit, or Helocs, by 21 percent in the 12 months ending in June, data firm RealtyTrac Inc. said today.”

DS News“Wells Fargo Settles With HUD Over Maternity Leave Discrimination Complaints” (10-9-14)

“The U.S. Department of Housing and Urban Development (HUD) has reached a $5 million settlement with Wells Fargo Home Mortgage, the largest provider of residential mortgage loans in the nation, to resolve allegations that Wells Fargo discriminated against women who were either pregnant or on maternity leave, HUD announced Thursday.”

Mortgage Professional America“State expands help for first-time homebuyers” (10-9-14)

“The California Housing Finance Agency (CalHFA) is providing an additional $6,500 in down payment assistance to first-time homebuyers through its CalPLUS Conventional program.”

OC Housing News - “Desperate Baby Boomers need Millennials to buy homes” (10-9-14)

“Who cares whether or not Millennials buy homes? Shouldn’t the Millennials themselves be the only ones who care whether they rent or whether they own? Shouldn’t the choice be one for them to make in consideration of their own lifestyles, needs, and goals?”

Bloomberg“U.S. Mortgage Rates Fall to Lowest in a Month” (10-9-14)

“U.S. mortgage rates fell to the lowest level in a month after the International Monetary Fund’s cut to its global-growth outlook drove investors to the safety of the U.S. government bonds that guide borrowing costs.”

Housing Wire“Credit nation?  HELOCs up 20.6% year-over-year” (10-9-14)

“A total of 797,865 home equity lines of credit were originated nationwide, up 20.6% from a year ago and the highest level since the 12 months ending June 2009, according to RealtyTrac.”

 

On Friday, October 24, Bruce Norris will be presenting the 7th annual I Survived Real Estate 2014.

Bruce Norris of The Norris Group will be presenting Secrets to Becoming Wealthy with SJREI in Sunnyvale on Thursday, November 6.

Bruce Norris of The Norris Group will be holding his Property Buying Boot Camp Tuesday-Thursday, November 11-13.

 

Looking Back:

The Mortgage Bankers Association reported a 1.3% increase in mortgage applications the previous week.  Shadow inventory decreased to the lowest level since August 2008 and stood at 1.9 million.  Janet Yellen was nominated to serve as the head of the Federal Reserve and the first woman to serve in this position.

 

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.

Home Price Growth Strongest in Five Months in August Despite Being on Overall Decline

Tuesday, October 7th, 2014

Copyright: Image from www.flickr.com/photos/68751915@N05/



Today’s News Synopsis:

Home price growth is actually on the decline having increased only 6.4% year-over-year and 0.3% month-over-month in August, compared to 7.4% and 1.2% the year prior.  Despite this, growth was actually the strongest it had been in five months.  RealtyTrac released data showing the best top ten college towns to buy rental properties and to flip homes.

 

In The News:

Housing Wire“CoreLogic: Home price growth continues downward trend” (10-7-14)

“Home prices, including distressed sales, climbed 6.4% in August 2014 compared to a year prior, following 30 months of consecutive year-over-year increases in home prices nationally, the latest CoreLogic home price index reported.”

Bloomberg“Homebuilders Offer Freebies as Booming U.S. Markets Cool” (10-7-14)

“Builders in Phoenix and areas from Sacramento, California, to Orlando, Florida, are sweetening offers as sales slow in some of the country’s most volatile housing markets.”

Realty Trac“Best College Towns for Buying Rentals, Flipping in 2014″ (10-7-14)

“RealtyTrac has ranked the top 10 college towns for buying rental properties, and the top 10 college towns for flipping in 2014.  For these rankings, RealtyTrac looked at public four-year universities with a total 2012 enrollment of 20,000 or more based on data from the National Center for Education Statistics and located in counties with an unemployment rate below the national average of 6.2 percent in June 2014.”

Housing Wire“Capital Economics: August price growth was strongest in five months” (10-7-14)

“The increase in the CoreLogic measure of house prices in August, although barely half the average monthly gain of August 2012 and 2013, suggests that the housing market is putting the soft patch in prices from earlier this year behind it, a client note from Capital Economics says.”

Mortgage Professional America“CFPB is doing a good job overall — government watchdog” (10-7-14)

“The CFPB is performing well, for the most part. That’s according to a new report by the Federal Reserve’s Office of the Inspector General.  The OIG had reviewed the CFPB’s rule-making process to see whether it complied with the Dodd-Frank Act.”

OC Housing News - “How restricted for-sale housing inventory saps demand” (10-7-14)

“Lenders restricted MLS inventory to drive up house prices, which also drives up rent; higher rent makes it more difficult to save for a down payment.”

Housing Wire - “KBW: Single-family REO market tops $25 billion” (10-7-14)

“A client note from Keefe, Bruyette & Woods says that major institutional players have now invested $25 billion in the single-family rental market, acquiring some 150,000 properties nationwide.”

Realty Trac“Boston Foreclosures Bouncing Back” (10-7-14)

“Foreclosure starts in the Boston metro area increased 17 percent in July compared to a year ago, the fifth consecutive month where foreclosure starts have increased annually in the region.”

 

On Friday, October 24, Bruce Norris will be presenting the 7th annual I Survived Real Estate 2014.

Bruce Norris of The Norris Group will be presenting Secrets to Becoming Wealthy with SJREI in Sunnyvale on Thursday, November 6.

Bruce Norris of The Norris Group will be holding his Property Buying Boot Camp Tuesday-Thursday, November 11-13.

 

Looking Back:

With the third-quarter earnings report recently released for U.S. banks, the third quarter was not looking good and was expected to have lower profits.  The recent market index report from NAHB showed that 52 out of 350 metros in the nation showed signs of improvement.  Moody’s Investors Services reported modified seriously delinquent loans continued to hold strong.

 

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.

Debate Continues Over Loosening Mortgage Credit

Monday, October 6th, 2014

 

 

Copyright: Image from www.flickr.com/photos/68751915@N05/



Today’s News Synopsis:

Despite a decrease in average gross ROI and profit, California is still fourth on the list of states leading home flipping.  Freddie Mac saw a drop in their serious delinquency rate by 2% last August.  Different organizations, including the Federal Reserve Board and BofA Merrill Lynch Global Research, continue to debate over whether or not mortgage credit is loosening.

 

In The News:

Housing Wire“Credit Suisse: This is slowing down homeownership” (10-6-14)

“Affordability is no longer a compelling motivator for first-time homebuyers, according to a new report from Credit Suisse.  Due to the combination of higher mortgage insurance costs, higher interest rates and higher home prices, affordability is back to the long-term averages for first-time buyers.”

DS News“California Ranks Fourth in Home Flipping Despite Drops in Average Gross ROI, Profit” (10-6-14)

“Despite seeing a decline in average gross ROI and average gross profit on flipped homes, California still ranked fourth among the 50 states and District of Columbia in flipped homes as a percentage of total sales in Q2, according to RealtyTrac.”

Realty Trac“Are Banks Smart To Haggle With the FHA?” (10-6-14)

“The growing battle between the FHA and the lending industry could soon impact home sales and refinancing nationwide, a contest to win both hearts and minds not to mention loan originations worth billions of dollars.”

Mortgage Professional America“S&P faces new investigation over mortgage bond ratings” (10-6-14)

“Standard & Poor’s is in hot water over its ratings of mortgage bonds again, this time with New York Attorney General Eric Schneiderman.”

OC Housing News - “Why aren’t Millennials buying homes?” (10-6-14)

“In the 60 years between World War II and the housing bust, each generation obtained an education, secured a job, got married, and bought a home in the suburbs, enshrining our nostalgic notions of the American Dream. Unfortunately, lenders destroyed all that.”

DS News“Freddie Mac’s Serious Delinquency Rate Dips Below 2 Percent” (10-6-14)

“Freddie Mac followed the lead of its sister government-sponsored enterprise, Fannie Mae, and reported a serious delinquency rate of less than 2 percent for August in its recently-released August 2014 Monthly Summary.”

Housing Wire“Is mortgage credit loosening or not?” (10-6-14)

“The Federal Reserve Board’s Quarterly Senior Loan Officer Survey of credit conditions indicates that mortgage credit loosened in Q2 2014.”

 

On Friday, October 24, Bruce Norris will be presenting the 7th annual I Survived Real Estate 2014.

Bruce Norris of The Norris Group will be presenting Secrets to Becoming Wealthy with SJREI in Sunnyvale on Thursday, November 6.

Bruce Norris of The Norris Group will be holding his Property Buying Boot Camp Tuesday-Thursday, November 11-13.

 

 

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.

Distressed Homes Sell at Less Than Half The Price of Non-Distressed Homes

Tuesday, September 30th, 2014

 

 

 

 



Today’s News Synopsis:

Home prices increased in 20 US cities by 6.7% according to the latest Case-Shiller Index.  The latest RealtyTrac report showed that in eight states, distressed homes sold at less than half the price of a non-distressed home.  The high cost of loans seems to be the biggest obstacle to homeowners saving for a down payment and has lead to a decrease in FHA originations.

In The News:

Housing Wire - “Realtor confidence on home price growth slips, but solid” (9-30-14)

“Members of the National Association of Realtors expect home prices to increase modestly in the next 12 months, with the median expected price increase at 3.5%, according to data gathered from the August 2014 Realtor Confidence Index Survey.”

Los Angeles Times“Murdoch’s News Corp. to buy parent of Realtor.com for $950 million” (9-30-14)

“Rupert Murdoch is moving into the online real estate business.  Murdoch’s News Corp. announced a deal Tuesday to buy Move Inc., operator of Realtor.com, the nation’s third-largest real estate listings website, for $950 million. The purchase, expected to close by the end of the year, would put the parent company of the Wall Street Journal in direct competition with online listing giants Zillow and Trulia, rivals who themselves announced a merger agreement in July.”

DS News“Report: Distressed Homes Sold at Less Than Half Price in Eight States in August” (9-30-14)

“Eight states reported a median sales price for distressed homes at less than half the sales price of non-distressed homes in August, according to a report recently released by RealtyTrac.”

OC Housing News“High loan costs cause FHA originations to plunge” (9-30-14)

“The biggest barrier to first-time homebuyers is saving for a down payment. As a result, most first-time homebuyers turn to the FHA because the FHA only requires 3.5% down, but as everyone who’s gone down that road also quickly learns, FHA financing is expensive; in fact, FHA financing is so expensive, it’s like taking out a 12.4% second mortgage!”

Housing Wire - “News Corp will buy Move for $950 million” (9-30-14)

“Rupert Murdoch’s News Corp (NWS) has agreed to purchase Move (MOVE), which operates Realtor.com for the National Association of Realtors, for $950 million in cash.”

Mortgage Professional America“Mortgage pros raise cash for needy families” (9-30-14)

“The Mortgage Bankers Association’s philanthropic arm raised more than $31,000 for families in need this summer.  The MBA Opens Doors Foundation is dedicated to providing financial assistance to families with critically ill or injured children by awarding grants toward mortgage or rent payments.”

DS News - “Single-Family Home Sales Drop in Connecticut” (9-30-14)

“Single-family home sales declined in Connecticut by nearly 6 percent year-over-year in August, according to the Warren Group, publisher of the Commercial Record.”

Bloomberg - “Home Prices in U.S. Rise at Slowest Pace in Almost Two Years” (9-30-14)

“Home prices in 20 U.S. cities rose in the year ended in July at the slowest pace in almost two years as still-tight credit and limited wage gains weigh on demand.”

Housing Wire - “Bank of America finds buyer for Countrywide subprime MSRs” (9-30-14)

“Bank of America (BAC) is set to break the logjam of legacy mortgage servicing rights transfers when it transfers the MSRs of 2,291 subprime loans that were originated by Countrywide Financial to Select Portfolio Servicing in November.”

 

On Friday, October 24, Bruce Norris will be presenting the 7th annual I Survived Real Estate 2014.

Bruce Norris of The Norris Group will be holding his Property Buying Boot Camp Tuesday-Thursday, November 11-13.

 

Looking Back:

Freddie Mac had just reached a settlement with Citigroup over repurchase claims in the future.  In an announcement made the previous day, HUD redefined a qualified mortgage to mean a mortgage that required periodic payments and not have terms longer than 30 years.  Housing equity increased 30% year-over-year with the decrease in mortgage debt.

 

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.

Negative Equity Decreases to Almost Single-Digits

Thursday, September 25th, 2014

 

 

 

Today’s News Synopsis:

Mortgage rates decreased slightly after being at high numbers for four months; 30-year rates now stand at 4.2% and 15-year rates 3.36%.  Negative equity decreased in the second quarter to almost single-digits while borrower equity increased by $1 trillion.  The median price for distressed homes increased in August both month-over-month and year-over-year.

In The News:

Housing Wire - “Nevada Supreme Court ruling could jeopardize first mortgage liens” (9-25-14)

“Matt Martin Real Estate Management is sounding the alarm that a recent decision by the Nevada Supreme Court could substantially impact the security of first mortgage lien holders.”

DS News“Underwater Rate Dips; Borrower Equity Jumps by $1 Trillion” (9-25-14)

“The nation’s negative equity rate dipped closer to single digits in the year’s second quarter, though nearly one in five borrowers remain poorly positioned, according to new data released Thursday.”

Bloomberg“U.S. Mortgage Rates Drop From a Four-Month High” (9-25-14)

“Mortgage rates in the U.S. dropped from a four-month high, reducing borrowing costs as demand for housing improves.  The average rate for a 30-year fixed mortgage was 4.2 percent this week, Freddie Mac said in a statement today.”

Housing Wire - “Black Knight: Delinquency rate jumps almost 5% to highest since February” (9-25-14)

“The mortgage delinquency rate jumped nearly 5% in August, reaching its highest point since February, the Data and Analytics division of Black Knight Financial Services reported in its “first look” at August 2014.”

DS News“CFPB Official Discusses New Servicing Rules” (9-25-14)

“A recurring theme during many of the six labs at the Five Star Conference earlier this week was compliance and how it has changed the mortgage and real estate industries in the last few years.”

OC Housing News - “People who lost their homes in foreclosure moved in next door” (9-25-14)

“What happens to people who lose their house in foreclosure? Do they end up homeless and destitute? Do they resort to a life of crime or prostitution? Is foreclosure the end of modern civilization as we know it?  People who were trying to prevent foreclosures proffered all of these fallacious reasons why we needed to stop foreclosures and give delinquent borrowers principal reductions or free houses.”

Mortgage Professional America - “Minority mortgages hit 13-year low” (9-25-14)

“The share of mortgages made to African-American and Hispanic borrowers to buy homes has hit a 13-year low, according to recently released federal data collected from mortgage lenders under the Home Mortgage Disclosure Act.”

DS News - “Distressed Home Sale Prices Increase in August” (9-25-14)

“The August median price of U.S. distressed homes climbed both monthly and annually, according to RealtyTrac’s August 2014 U.S. Residential and Foreclosure Sales Report released on Sept. 25.”

Housing Wire“Home-price growth in August slows in 18 of 20 largest housing markets” (9-25-14)

“Home-price growth is slowing even as the sales of homes under $200,000 slip and the share of home sales above the $500,000 price point grow, according to the August home report from RealtyTrac.”

Realty Times“Education Thwarting Homeownership For Younger Households” (9-25-14)

“Was it worth it? That may be the question being asked by about 5.9 million households between the ages of 20 to 40 who incurred student college loan debt and are still paying it down today to the tune of about $250 or more each month.”

Realty Trac“Student Loan Debt Curbing Housing Market” (9-25-14)

“The residential real estate market’s foundation is beginning to wobble. And crushing student debt is curbing the nascent real  estate recovery, according to a new report by John Burn Real Estate Consulting.”

 

On Friday, October 24, Bruce Norris will be presenting the 7th annual I Survived Real Estate 2014.

Bruce Norris of The Norris Group will be holding his Property Buying Boot Camp Tuesday-Thursday, November 11-13.

 

Looking Back:

In a big news story, Governor Jerry Brown signed a bill into law that would increase the minimum wage to $10 an hour.  U.S. home sales increased 7.9% in August after having plummeted 14.1% in July.  In addition, home prices also made a comeback in one-fifth of the top markets in the United States.

 

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.

Housing Starts Decrease Almost 15% with the Decrease in Multifamily Production

Thursday, September 18th, 2014

 

 

Today’s News Synopsis:

Housing starts decreased by 14.4% last month with the decrease in multifamily production.  Mortgage rates increased again to a 3-month high with 30-year rates now at 4.23% and 15-year rates at 3.37%.  In a recent announcement by the Federal Reserve, tapering will be completed by the end of next month, meaning an end to the bond-buying program.

In The News:

DS News - “Report: Home Sales Down, Prices Up For August” (9-18-14)

“Home sales in August remained below last year’s pace for yet another month as prices inched higher, RE/MAX reported on September 16.”

NAHB“Multifamily Decline Pushes Nationwide Housing Starts Down 14.4 Percent in August” (9-18-14)

“Led by a steep 31.7 percent decline in multifamily production, nationwide housing starts fell 14.4 percent to a seasonally adjusted annual rate of 956,000 units in August, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.”

Mortgage Professional America - “The taper is nearly complete — lock your borrowers in while rates are low” (9-18-14)

“The Federal Reserve said yesterday that its bond-buying program will end in October as scheduled. So does that mean mortgage rates will see an immediate spike? The short answer is: not yet.”

DS News “Real Estate Investors Discuss Buying Hot Spots” (9-18-14)

“With so many single-family distressed homes out there on the market, real estate investors are aware of the need to choose carefully which homes to buy – and it’s more than just the house itself that figures into the equation when buyers are making that determination.”

Housing Wire - “Freddie Mac: Mortgage rates move to 3-month high” (9-18-14)

“Mortgage rates shot up for the week ended Sept. 18, making their biggest one-week gain so far this year, the latest Freddie Mac Primary Mortgage Market Survey found.”

OC Housing News“Low mortgage rates fail to overcome buyer reluctance” (9-18-14)

“I would like to own a Lexus LS 460. It’s a beautiful and luxurious automobile; however, I am reluctant to buy one because the price is just too high. They could lower the interest rate to zero, and I would be unlikely to buy a car that costs that much. No matter how much people may want something, if the price is too high, they will be reluctant to buy it.”

DS News“CFPB Has Caused Businesses to Heavily Emphasize Compliance” (9-18-14)

“With the mortgage industry becoming more heavily regulated in the last four to five years, those who work within the industry have had to place an increased emphasis on compliance.”

Inman“Heat map shows baby boomers and millennials on the move” (9-18-14)

“RealtyTrac has analyzed Census Bureau data to map the migration patterns of baby boomers and millennials from 2007 to 2013 in more than 1,800 counties.”

Housing Wire“Fitch: Rise of nonbank servicers threatens private-label RMBS” (9-18-14)

“The precipitous growth of nonbank mortgage servicers in recent years presents a threat to the performance of private-label residential mortgage-backed securitizations, Fitch Ratings said in a new report.”

DS News - “Analyst Predicts Home Price Decline In Report to White House” (9-18-14)

“Former Goldman Sachs executive Joshua Pollard sent a sobering 18-page report to the White House on September 17 warning of a potential downturn in home prices that could put the country back into a recession before the ripples of the previous one settle.”

 

Hard Money Loan Closed

Lancaster, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $85,000 on a 3 bedroom, 1 bathroom home appraised for $130,000.

San Juan Capistrano Hard Money Loan closed by the Norris Group

 

Bruce Norris of The Norris Group will be presenting Secrets To Becoming Wealthy with InvestClub for Women in Cerritos TONIGHT.

On Friday, October 24, Bruce Norris will be presenting the 7th annual I Survived Real Estate 2014.

Bruce Norris of The Norris Group will be holding his Property Buying Boot Camp Tuesday-Thursday, November 11-13.

 

Looking Back:

Mortgage applications saw an 11.2% increase over the previous week according to the Mortgage Bankers Association.  According to the latest FNC Residential Price Index report, home prices were at their highest in three years with a 0.7% increase in July.  However, housing starts were below expectations, having risen by only 0.9% to 891,000.

 

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.

New Jersey Among Top Five States With Highest Foreclosure Rates

Friday, September 12th, 2014

 

 

 

Sources:

Index Shows Employment Growth Slow But Steady
Judicial Foreclosure States Seeing Faster Gains in Home Asking Prices



Today’s News Synopsis:

Aaron Norris gives highlights from the news of the week in this week’s real estate headline roundup video.  Consumer sentiment is at its highest in over a year, having increased over two points and now stands at 84.6.  Recent cuts in home prices are the latest sign pointing to a change in the housing market.  With the recent increase in foreclosures, New Jersey is now among the top five states with the highest foreclosure rates.

In The News:

Bloomberg“Bank Moves to Avoid Overseas Swap Rules Watched by U.S. Treasury” (9-11-14)

“The Treasury Department is monitoring Wall Street efforts to escape U.S. swap-trading restrictions for overseas derivatives, according to a department official.”

Housing Wire - “Here’s why mortgage rates won’t hit 2014 expectations” (9-12-14)

“Mortgage rates have continuously defied expectations in 2014, according to an article in the Washington Post.  Back at the end of 2013, the market was trying to predict where rates would go in 2014, with most experts predicting rates to steadily increase.”

OC Housing News“Federal program to avoid foreclosure a dismal failure” (9-12-14)

“Federal officials touted their foreclosure avoidance programs as an alternative that would keep borrowers in their homes. Apparently, paying for a house is no longer requisite for keeping it, just signing some papers and getting a name on title is enough to make the property a sacrosanct family home.”

DS News“Report: Consumer Sentiment Highest in 14 Months” (9-12-14)

“Consumer sentiment ticked up in September to its highest point in more than a year, according to an early reading.  The Thomson Reuters/University of Michigan’s Index of Consumer Sentiment edged up more than two points in a preliminary September reading, putting it at a 14-month high of 84.6.”

Los Angeles Times“Housing price cuts point to a shift in Southland market” (9-12-14)

“The latest sign that buyers are gaining leverage in Southern California’s housing market: Price cuts are back.  The number of homes with reduced asking prices has risen sharply in recent months, a reversal from last year’s sellers’ market, when list prices seemed more like a floor than a ceiling.”

Inman - “California Regional MLS makes strides toward statewide MLS” (9-12-14)

“With the goal of building a statewide multiple listing service in mind, California Regional MLS has embarked on an initiative to ink data-share deals directly with MLSs throughout the Golden State.”

Housing Wire - “Bipartisan Policy Center Housing Summit in Washington starts Monday” (9-12-14)

“On Monday morning, the Bipartisan Policy Center will kick off its 2014 Housing Summit in Washington, D.C.  The two-day event will feature leading housing policy and economic experts from around the country. The agenda can be viewed here.”

DS News - “Spike in Foreclosures Puts New Jersey Among Nation’s Top Five” (9-12-14)

“Foreclosure activity skyrocketed in New Jersey for the month of August, giving the Garden State the fourth highest foreclosure rate in the nation, according to RealtyTrac’s monthly U.S. Foreclosure Market Report for August 2014 released September 11.”

 

Hard Money Loan Closed

Oxnard, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $200,000 on a 4 bedroom, 2 bathroom home appraised for $364,000.

Oxnard Hard Money Loan closed by the Norris Group

 

Bruce Norris of The Norris Group will be speaking at the SRC YPN Lunch & Learn on Tuesday, September 16, 2014.

Bruce Norris of The Norris Group will be presenting Secrets To Becoming Wealthy with Robert Hall and Associates on Tuesday, September 16, 2014.

Bruce Norris of The Norris Group will be presenting his California Real Estate Market Update with Paramount Club Market on Wednesday, September 17, 2014.

Bruce Norris of The Norris Group will be presenting Secrets To Becoming Wealthy with InvestClub for Women on Wednesday, September 17, 2014.

Bruce Norris of The Norris Group will be presenting Secrets To Becoming Wealthy with InvestClub for Women in Cerritos on Thursday, September 18, 2014.

 

Looking Back:

The Mortgage Bankers Association reported mortgage applications decreased by 13.5% from the previous week.  Mortgage rates did not show much signs of change with 30-year rates remaining at 4.57% and 15-year rates at 3.59%.  Unemployment claims also dropped to 292,000, their lowest in over 7 years.

 

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.

Rick Sharga, Vice President of Auction.com Joins Bruce Norris on the Real Estate Radio Show #399

Friday, September 12th, 2014

Rick_Sharga

 

Rick Sharga

Executive Vice President of Auction.com

(Full Bio)


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On Friday, October 24, the Norris Group proudly presents its 7th annual award-winning black-tie event I Survived Real Estate. An incredible lineup of industry experts will join Bruce Norris to discuss perplexing industry trends, head-scratching legislation, and opportunities emerging for real estate professionals. Proceeds from the event benefit Make a Wish and St. Jude Children’s Research Hospital. This event could not have been possible without the generous help of the following platinum partners: Auction.com, HousingWire, PropertyRadar, the Apartment Owners Association, the San Diego Creative Real Estate Investors Association and President Bill Tan, InvestClub for Women and Iris Veneracion, San Jose Real Estate Investors Association and Geraldine Barry, MVT Productions, and White House Catering. For event information, visit isurvivedrealestate.com.

Bruce Norris is joined this week by Rick Sharga. Rick is the executive vice president of Auction.com. Bruce has known him for many years, going all the way back to RealtryTrac and Carrington.

Auction.com is really quite a success story. Bruce happens to know a builder who had some unsold inventory in Riverside, and he gave the young man a chance to auction the property. This was in the middle of 2005. Auction.com, in its current iteration, started in 2007. There have been predecessor real estate disposition corporations as well as land auction companies the owners have founded, but these were shut down when they took on a new investor and started Auction.com in 2007. This was just in time for the mortgage market to melt down and there to be thousands of foreclosed properties that needed to be disposed of quickly. There are a lot of other existing auction companies too. These all could have exploded, but Auction.com was of the few that did. Bruce asked how this occurred, to which Rick said there are a couple reasons. The founders are particularly adept at shifting as the market needs shift. They run a very tight shift in terms of the auction operation itself, so we can execute and grow more rapidly than the other companies.

Sometimes the secret sauce comes down to being better capitalized. At the time when expansion was needed, they had adequate capital to handle the expansion. What a lot of people do not realize is how expensive it is to run an auction and that there is risk involved because typically an auction company does not get paid unless there is a successful transaction. You can go broke pretty quickly if you do not know how to manage that cash flow. When Auction.com got into the business during California’s downturn, there were ballroom auctions. This is what auctions did at the time. Rick said he spoke to a group of realtors earlier, and he had to explain to them that when the company was founded it was taking on huge portfolios of properties from enormous financial institutions and selling them off at these gigantic ballroom auctions where there would be thousands of people and properties changing hands in the course of a day. That business model was very effective for what it needs to do. It really did not have a role for the realtor at that time, so what they are doing now is figuring out how to work better within the realtor agent broker community. However, this is how the company started.

One of the insights the CEO had was the opportunity to take this business and make it more of an online marketplace, creating an eBay for real estate. This is one of the huge differentiators between Auction.com and virtually every other auction company in the country. Bruce said the Norris Group really thought of starting an auction company. They held an auction in 2007/2008, and he and his sons along with a few others worked harder on that than anything he had ever worked hard on in his life. They had 15 properties to sell, and they sold one. At this point they were so happy to not be in the auction business. His sons were a little disappointed, but Bruce told them he had never been more proud of a failure in his life. There was nothing they could have done that they knew how to do any harder. They did not know something that they should have done because it is not easy.

It was not easy to get a crowd there, and this is why Bruce looks at this business and sees how it had to change. It has had to invent itself a few times over. From what Rick said, it is about to do it again because all of the inventory that was obvious, such as the REOs, is not true now. Typically what happens to the auction business cycle is you might have a chance to explode like Lazum did when they had the HUD auction contract or Kennedy Wilson. When things go back to normal and the builders don’t sell their things, you have an auction for this. All of this is not the obvious inventory anymore. They have been diversifying, and step one of that was to move into the commercial space. This is a very vast growing part of the business right now. Last week they had a one-day auction where they sold over $140 million worth of commercial properties in one day online. Bruce saw this and wondered if they were still going to do single-family homes. Last year they sold 35,000 properties, and it was about $7 ½ billion in sales. The overwhelming majority of these were residential properties.

If you are looking at where the market is going, then you need to diversify. Rick said because of this they are moving into commercial as well as moving very specifically into commercial properties that are not distressed. This is a pre-cursor to where they hope to go in the residential market. They think it is better to start with the commercial market simply because you are typically dealing with more sophisticated buyers and sellers as well as working with fewer properties. You can kind of get the bugs out of the system early on. When you do launch something broadly to the residential market, it really needs to be pretty seamless and almost idiot-proof so that the average internet user can participate.

Something that has been very difficult for the whole industry and is something they would have to overcome is the stigma of one saying their house is for sale and would have to auction tomorrow, and nobody is pleased. The younger you get the less automatic that stigma becomes. Rick said they are about to see the next generation of homeowners enter the market having grown up purchasing everything online. They have become very familiar with sites like eBay. Auction.com typically refers to themselves as eBay real estate. A lot of those beliefs will diminish, but the other thing that is a very real possibility and not inconceivable is in the future every property on Auction.com may not be a traditional auction. There could be some properties up there that are listed for a certain amount of money on which you can make an offer as opposed to the traditional auction methodologies. They continue to test all sorts of different ways for doing business online.

What attracted Rick to the company in the first place was his belief that it is inevitable for properties to change hands online. Ultimately, the internet will have the kind of efficiency, transparency, and reach that makes it inevitable for people to buy and sell homes on the internet. In a way it is very smart for him to keep referring to eBay since this is a site that Bruce trusts. He bought something, and it showed up. This means somebody actually had it, he paid for it, and nothing bad happened in the interim. This is the model that people can understand. It is a legitimate transaction and you do not physically have to be there and go into an escrow room. This is a transition that is really not easy for an entire industry to take on.

One of the main reasons Auction.com recruited Rick was because they needed to be a trusted brand in that equation. People need to believe if they are going to Auction.com it will be a legitimate transaction and that they have done some diligence before a property goes online. They can also trust what is going to happen. They are seeing a lot of real estate documentation becoming digitized. Companies like DocuSign are getting a lot of traction, as well we are looking at financing being available online. You will be able to do 90-95% of what you need to do from your iPad while you are watching your kid’s soccer game. It will be a whole different way of doing business in the real estate industry than what anyone grew up doing.

Bruce said one of the things he realized when they attempted that auction was they did not have a pool of anybody who was a buyer. Rather, they were starting from scratch. Now, as you go on and on, when Auction.com has a property for sale they already know they have the huge audience that will look at whatever they have. When you are looking at some of the things that differentiate companies, they probably spent $40-$50 million last year on marketing properties. This is done in order to make sure that when they have the properties up they are getting bidders. Part of the equation is also how good they assets are you are trying to sell. For some properties, no matter how many people they target they are not going to find anybody raising their hands. This is the nature of the business, but this is also one of the reasons it is so expensive to be a successful auction company. You spend a lot of money, energy, and time to try to attract buyers to each event.

There are several types of auctions that are possible, and Bruce wondered if they ever used absolute auctions. Rick said they rarely use an absolute auction. This is the type of auction where whatever the winning bid is, the seller will be compelled to sell for that amount. This is something the buyer would love to have, especially if they are the only bidder. Virtually 100% of their auctions are reserve auctions, which means that unless the bid reaches that reserve amount, the seller is not obliged to sell the property. They try to help the bidders get as close to the reserve as possible, and a fair amount of sales take place below the reserve. It is interesting to watch these things unfold from the operations center that they have as bidding activity reaches the end of the auction.

In the documentation they have, they are informing other bidders in writing that they are allowed to bid on behalf of the seller up to a certain point. They never bid beyond the reserve number, and they are very careful about bidding close to the reserve because they really don’t want to be the winning bidder. It is a little confusing and sometimes off-putting for people who aren’t familiar with how auctions work, but it is essentially how the negotiation process works in an auction. It is the best way so far to get buyers’ bids close enough to the reserve price for the sellers to legitimately consider the offer. They are actively exploring other approaches that will make that unnecessary simply because it is a little bit of a controversial practice and makes some people uncomfortable. Bruce said he can understand this from a buyer’s and a seller’s point of view. If it could be resolved in a way that everybody is happy, that would be nice.

On trustee sales in California, it went from no one doing it other than the individual trustees to Auction.com owning it. Bruce asked if this is true across the country that you have really started to dominate most states that have trustee sale processes. Rick said they have done trustee sales in virtually every state that does non-judicial foreclosures. They are probably still very active in about ten. In some cases there is simply not enough volume to really warrant staging a full formal auction. In the order of whether or not this should be a big surprise, amazingly enough when you put professional auctioneers in place and have them auction off property, they sell them at higher prices. The servicers’ lenders seem to appreciate this because it minimizes losses. Once they were able to put their stake in the ground and show the lenders and servicers and trustees that they could get a better result for them. It really did take off like wildfire.

It also did not hurt anything that they started doing this at the same time lenders and servicers started getting serious about selling property at these foreclosure sales. For a number of years, virtually everything was going REO. You had very few of these sales taking place as they were scheduled. The pricing is getting a little more realistic since prices have been trending up and a little of it was being at the right place at the right time. Talking about trustee sales, usually the local laws require a live auction at a location. Bruce asked if this is why these are not being done online exclusively, and Rick said this is exactly correct. For this reason they are marketing the properties online. They are conducting auctions they believe are much more open than a typical trustee sale has been over the years where you see a mysterious guy with a clipboard surrounded by four local investors. A lot of the investors said early on that they really didn’t care for the fact that they were there because they were getting more competition and prices were going up. On the other hand, they appreciated the fact that they would often bring coffee and doughnuts.

Bruce asked which side is more repetitive for Auction.com, the sellers or the buyers. Rick said initially it has been the sellers. They were dealing mostly with large financial institutions, which would have had repetitive inventory. What they were seeing is what they hoped would happen, which was more of a marketplace effect where the buyers who were used to coming to site and buying multiple times over the course of the year are now approaching them to sell the properties. This happens when their business models change or they have a property in their portfolio that does not fit their business model. They do have repeat buyers and a VIP program that gives buyers the opportunity to get a personal account manager at Auction.com to help them through the process or alert them to properties that fit their models. They are seeing repeat buyers, but this marketplace where buyers ultimately become sellers is fascinating to watch and necessary for the future of the business.

To have repetitive business, it will not be B of A’s REO pool anymore, but rather the clientele that does much less volume but does it often. Rick said this is an interim step before they enter the mainstream market. Their goal is to work with all the institutional and individual investors who bought properties on their platform encouraging them to resell the properties back to them when they are ready. Bruce asked about the availability of financing and how this works for investors or an occupant buyer. Bruce asked if it is available for both these groups, to which Rick said they are working on this. There was a point in time when the majority of their buyers were owner-occupants. Right now a lot of the inventory they have requires cash. This is at the sellers’ discretion and something they do not control. This makes it difficult for owner-occupants to participate in a meaningful way.

A sister company called Auction Finance that provides bridge loans, which are lines of credit from $500,000 to $5 million, for residential property purchases in about nine states. They are priced similarly to hard money loans, although terms are probably a little more favorable. However, they are in the same general ballpark, although the terms are probably not any better than what an investor can get from the Norris Group, who does a fine job with hard money loans. They are trying to provide some financing and will be making some announcements shortly about some new financing options they will be promoting.

Bruce asked Rick if he sees the effect of hedge funds in his auction world as far as being a dominant buyer or presenting him with potentially a large amount of properties they want to exit. Rick said they have been selling to virtually every major hedge fund they can think of who has been participating in the single-family rental space. If you go down the list starting at the biggest, they are all buying from Auction.com. Some are turning around and starting to resell properties that may not fit their portfolio. They may have decided to exit a certain geography.

They have not seen any of the hedge funds start jettisoning large portfolios of properties. Rick knows people keep wandering when this will happen, although he is skeptical we are going to see it the way people believe it will happen. A lot of the hedge fund investment strategies look like long-term holds. You do not hold a real estate investment trust if you are going to turn the properties very quickly. You do not issue securities if you are going to dispose the properties quickly, and you do not go public if you are planning to sell off the property. He does not expect that we are going to see a lot of short term sales from the hedge funds, although ultimately you will start to see the properties be sold off in small chunks over time. Their areas of concentration have changed where they were in California and Phoenix, Arizona, then later they exited to Las Vegas and Atlanta because of pricing. Right now they are seeing the southeastern part of the country, especially Illinois and Indiana of all places. Indiana is emblematic of a long-term whole strategy since the investors they have talked to did not anticipate home price appreciation on the properties. They are looking at really good returns on rental, but also long-term holds.

Bruce asked if there was anything that surprised Rick in 2014, whether it was volume, price aggression, or lack of these things. Rick said he wished he could say he was surprised, although he was a little surprised at not seeing a little bit more new home building activity. However, he basically predicted this year would be flat and home price appreciation would slow down dramatically. Credit is tighter than he expected it to be this late in the year, although it was pretty easy to predict that credit was not going to be widely available to the average borrower. Rick said he is of the opinion that they are going to see homeownership rates dip a little bit before they finally settle down and start to come back.

For the next couple of years, there are just tremendous opportunities for rental property owners. The reason for this is their occupant ownership is declining. The last question would be if it is the new national intent to take the emphasis away from owning a home to occupying an affordable one. We will get into the whole scope of creating affordable rentals for people. Rick does not think we will get back to where we were back in the Great Depression era where homeownership rates were below 50%. We found out when we get to 70% homeownership rates, we have unfortunately put a lot of people into houses who really cannot afford them. We will probably settle in around 64-65% when it is all said and done. For the next few years, because of affordability, tight credit, and lack of inventory at the low end of the market, as well as psychological scarring among the millennials, there will likely be a heavier than average percentage of the population in rental properties.

We have never seen the set of charts that exist in California for anything like 2014 in years past. He will do a lot of research to figure out why, but one of the things for which there is not a chart is uncertainty. You are looking at whether or not you should own a home, and there is a whole generation that may look at that and say they are not sure. Rick said the Fannie Mae study that goes out and interviews people, specifically about if they want to become homeowners, showed that 75% of renters do eventually want to be homeowners but they delayed it. This percentage is down from about 83% a couple years ago. The aspiration is still there in large numbers, although it is still a little weaker than it used to be. What Rick thinks is a gating factor in younger potential homebuyers is issues with jobs. Forget about student loan debt for a minute, which makes affordability and qualifying for a loan a problem. The 25-35 year old age cohort really took a beating during the recession, and a lot of them are in jobs they really do not want to keep very long. You do not want a 30-year financial commitment if you do not want to commit to your job for more than the next ten months. The job market has a lot to do with the housing market and the delaying we are seeing in terms of home purchases.

The Norris Group would like to thank its gold sponsors for supporting I Survived Real Estate: Adrenaline Athletics, Coldwell Banker Town and Country, Elite Auctions, In A Day Development, Inland Valley Association of Realtors, Investor Experts, Jennifer Buys Houses, Keystone CPA, Las Brisas Escrow, LA South REIA, Leivas Associates, Pilot Limousine, Primary Residential Mortgage, Northern California Real Estate Investors Association, North San Diego Real Estate Investors, Real Wealth Network, Realty 411 Magazine, Rick and LeAnne Rossiter, Personal Real Estate Magazine, SONOCA Corporation, Southpointe Companies, Spinnaker Loans, Tony Alvarez, and uDirect IRA Services, and the Council of Multiple Listing Services. See isurvivedrealestate.com for video of the live event and more on our sponsors.

Rick Sharga on the Norris Group Real Estate Radio Show

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.