Today’s News Synopsis:
In The News:
Housing Wire – “California Homeowner Bill of Rights passes, sent to governor” (7-2-12)
“Two central provisions of the California Homeowner Bill of Rights passed the California State Legislature Monday.”
DS News – “Barclays Loses Two More in LIBOR Scandal Backlash” (7-3-12)
“Only one day after chairman Marcus Agius announced his resignation, Barclays announced that director and CEO Bob Diamond and COO Jerry del Missier are both stepping down.”
Realty Trac – “Celebration Should Be Put On Hold for Now” (7-3-12)
“On the surface, things sure are looking up these days when it comes to the nation’s housing sector as a whole. And the press is eating it up, declaring a housing recovery is underway.”
Bloomberg – “U.S. Office Market Has Smallest Occupancy Gain in a Year” (7-3-12)
“The U.S. office market had its smallest increase in net occupancies in a year in the second quarter as job growth slowed, Reis Inc. (REIS) said.”
Inman – “FHA insured $1.44B in loans to tax deadbeats” (7-3-12)
“You might recall the scandalous findings by the Treasury Department’s Inspector General that the IRS sent $7,500 and $8,000 first-time home buyer tax credit checks to thousands of people who simply asked for them between 2008 and 2010, with no documentation showing they were eligible or had even purchased a house. Among the recipients: hundreds of prison inmates, kids as young as three, and dead people.”
DS News – “Veros Forecasts Select Struggling Markets to Start Recovering” (7-3-12)
“Certain regions that once dragged the housing market down are expected to start giving the industry a lift while national home values are expected to start leveling, according to forecasts from Veros Real Estate Solutions.”
Housing Wire – “FHFA selects bidders for Fannie Mae REO pilot program” (7-3-12)
“The Federal Housing Finance Agency selected the winning bidders in its Fannie Mae REO pilot initiative.”
CNN Money – “Manufacturing sector contracts for first time since 2009″ (7-3-12)
“U.S. manufacturing slowed sharply in June to a level that indicates the sector is now contracting, marking the end of almost three years of growth in domestic manufacturing.”
Bloomberg – “Home Sales Show Bernanke’s Low Rates Are Gaining Traction” (7-3-12)
“Fed Chairman Ben S. Bernanke’s low interest-rate policy may finally be starting to pull housing out of a six-year tailspin, providing a boost to the broader economy.”
Hesperia, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $55,000 on a 3 bedroom, 2 bathroom home appraised for $101,000.
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.