California Real Estate Headline Roundup

Posts Tagged ‘treasury’

By Bruce Norris .

The Norris Group Real Estate News Roundup 3/24/14

Monday, March 24th, 2014


Today’s News Synopsis:

A new report from RealtyTrac showed 96% of housing markets have shown improvement since the foreclosure peak in 2010. First mortgages showed a 2.8% increasing, putting the total now to $7.97 trillion and mortgage debt at its highest in 6 years.  The latest monthly update from the American Enterprise Institute’s International Center on Housing Risk showed an increase in securitized mortgage risk and decrease in the quality of lending practices.

In The News:

Housing Wire“Borrowing again: Mortgage debt increases most in 6 years” (3-24-14)

“First mortgages increased 2.8% from the same period a year ago, marking the largest year-over-year increase since September of 2008, according to the most recent Equifax national consumer credit trends report.”

Bloomberg“Treasury 5-to-30-Year Yield Curve Least Since 2009 on Rates View” (3-24-14)

“The difference between the yields on five-year notes and 30-year bonds narrowed to the least since 2009 on bets the Federal Reserve ends stimulus and raises interest rates sooner than forecast as the economy strengthens.”

Mortgage Professional America“96% of housing markets show improvement over 2010″ (3-24-14)

“The vast majority of housing markets are better off now than they were at the height of the housing crisis four years ago – but only a few markets are better off than they were at the height of the bubble, according to a new study.”

Realty Trac“Average Building Permit Job Cost Up in 10 of 13 Major Counties In 2013″ (3-24-14)

“RealtyTrac recently started acquiring historical building permit data at the address level to help our users better assess the number, type and dollar amount of improvements made for individual properties as well as for neighboring properties to help determine the pride of ownership in a given neighborhood.”

DS News - “Unchanged Home Prices Raises Questions” (3-24-14)

“The Data & Analytics division of Black Knight Financial Services (BKFS) reported no monthly change in its Home Price Index (HPI) for January, underlining the question as to where other home price reports—including the monthly Case-Shiller Home Price Indices—will land for the year’s first month.”

Inman - “Carrington Mortgage Services taking minimum FICO score down to 550″ (3-24-14)

“Carrington Mortgage Services LLC wants to boost lending to “underserved” borrowers with FICO scores below 640 — “a sizable market that is largely ignored by today’s lenders,” the company said today in announcing it’s loosening underwriting on FHA, VA and USDA loan programs, extending eligibility to more property types and reducing overlays.”

Mortgage Professional America - “Most big banks pass stress test” (3-24-14)

“If the economy implodes again tomorrow, most big banks will be able to weather the storm. That’s according to the Federal Reserve, which said that 29 out of 30 major banks passed its annual stress test.”

Housing Wire - “Securitized mortgage risk growing as lending practices degrade” (3-24-14)

“The risk rate for securitized agency mortgages is worsening and lending practices are becoming less safe.  That’s the consensus and the conclusion of the latest monthly update from the American Enterprise Institute’s International Center on Housing Risk.”

Hard Money Loan Closed

Thousand Palms, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $230,000 on a 5 bedroom, 3.1 bathroom home appraised for $355,000.

Thousand Palms Hard Money Loan closed by the Norris Group

 

Bruce Norris of The Norris Group will be giving his California Real Estate Market Update with the Downey Association of Realtors on Wednesday, April 2, 2014.

Bruce Norris of The Norris Group will be presenting his Norris Group Property Buying Boot Camp in Riverside Tuesday through Thursday, April 8-10, 2014.

Bruce Norris of The Norris Group will be presenting his newest talk Secrets to Becoming Wealthy with FIBI Pasadena on Thursday, April 10, 2014.

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.

The Norris Group Real Estate News Roundup 10/29/13

Tuesday, October 29th, 2013

Today’s News Synopsis:

According to the latest S&P/Chase-Shiller Index, home prices increased again in August by 12.8% year-over-year, their fastest in over 6 1/2 years.  According to a recent study by USC, more Asian and Latino immigrants were able to keep their homes during the Great Recession as opposed to native-born citizens.  At the recent 100th annual MBA conference and expo, CFPB director Cordray defended the new mortgage applications some found controversial.


In The News:

DS News“August’s Annual Home Price Gains Set Post-Crisis Record” (10-29-13)

“The S&P/Case-Shiller Home Price Indices rose once again in August at their fastest annual rate in more than six and a half years, but the monthly pace continues to slow.”

Bloomberg- “Blackstone Adds to Biggest Year for REIT IPOs Since 2004″ (10-29-13)

“The debut of Brixmor Property Group Inc. (BRX) is adding fuel to what is already the biggest year for U.S. real estate initial public offerings in almost a decade.”

Mortgage Professional America“Cordray defends controversial mortgage rules” (10-29-13)

The director of the Consumer Financial Protection Bureau explained his agency’s mission and defended controversial new mortgage regulations Monday at the Mortgage Bankers Association’s 100th annual conference and expo.”

Housing Wire- “Hensarling blames Dodd-Frank for mortgage market volatility” (10-29-13)

“Rep. Jeb Hensarling, R-TX, received thousands of cheers from attendees during the Mortgage Banker’s Association 100th Annual Convention and Expo Tuesday as he painted the Dodd-Frank Act as the real threat to mortgage finance reform. ”

DS News- “Study: Immigrants Fared Better than Native Homeowners in Recession” (10-29-13)

“A new study from the University of Southern California Lusk Center for Real Estate reveals that immigrant Asian and Latino homeowners were more successful at holding onto their homes during the Great Recession than native-born homeowners.”

Inman“Realogy’s NRT subsidiary acquires big brokerage in California wine country” (10-29-13)

“Realogy subsidiary NRT LLC has strengthened its position as the nation’s biggest real estate brokerage with the acquisition of Frank Howard Allen Realtors, a leading brokerage with 300 sales associates in California’s wine country working out of 17 offices in Marin, Napa and Sonoma counties.”

Housing Wire - “SIGTARP alleges Hardest Hit Fund failures” (10-29-13)

“The Hardest Hit Fund, which was launched by the Treasury to help families in areas stricken by the housing bust, fell short of its stated goals, the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) warns.”

DS News- “Commentary: Investors Still Flooding the National Housing Market” (10-29-13)

“Investors remain a crucial factor in the U.S. housing market. Both large institutional and smaller “mom and pop” investors have been very active purchasing homes at a steep discount, primarily in housing-bust markets that have seen dramatic decreases in prices over the past several years.”

Hard Money Loan Closed

Riverside, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $280,000 on a 3 bedroom, 2 bathroom home appraised for $431,000.

 

Bruce Norris will be speaking at the Anaheim REI Expo on Sunday, November 3, 2013.

Looking Back:

The number of bank closures reached 47 with another closure in Pennsylvania.  LPS reported profit increased 44% in the third quarter with the increase in demand for mortgage technology as well as refinancing.  Consumer spending increased 0.8% the previous month, double what income increased at 0.4% the same month.

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.

The Norris Group Real Estate News Roundup 10/18/13

Friday, October 18th, 2013

 

Today’s News Synopsis:

Join us tonight as the Norris Group presents its sixth annual I Survived Real Estate!  In the news, California has received the biggest portion of housing relief funds from the Treasury than ever before. In hopes to gain more borrowers, lenders are becoming more lenient on their rules for lending.


In The News:

CNN Money- “Spending cuts are hurting economy” (10-18-13)

“If you thought this year’s cuts to preschoolers, senior meals and medical research were bad, get ready for more.”

Mortgage Professional America - “Wells cuts even more jobs” (10-18-13)

“Wells Fargo is slashing yet more jobs as demand for refinancing stays sluggish, according to a Reuters report.”

Housing Wire“California absorbs the most housing relief funds” (10-18-13)

“California received the largest portion of the Treasury’s Hardest Hit Fund as the state continued to recover from the large amount of unemployed and distressed homeowners impacted during the financial crisis.”

Inman“Temporary resolution of debt ceiling crisis has paved the way for a bipartisan budget” (10-18-13)

Merry Christmas! We will be free of renewed budget crisis until January. Party, party, party.”

CNN Money“Federal workers to get raise in January” (10-18-13)

“Federal workers have finally caught a break.  The deal Congress passed Wednesday to end the government shutdown allows the Obama administration to raise government employees’ pay by 1% after Jan. 1 — the first raise of its kind in three years.”

Mortgage Professional America“Lenders more lenient as they look to lure borrowers” (10-18-13)

“Recently, tightening credit standards have squeezed many prospective borrowers right out of the market, but that may be changing, according to data released Thursday by mortgage technology company Ellie Mae.”

Housing Wire - “SunTrust earnings pinched by mortgage settlements, legal matters” (10-18-13)

“SunTrust Bank (STI) ended up taking a huge earnings hit after settling with Fannie Mae, Freddie Mac and other government agencies over legacy reps and warranties liabilities and lingering mortgage issues.”

Hard Money Loan Closed

Hesperia, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $90,000 on a 3 bedroom, 2 bathroom home appraised for $140,000.

 

TODAY is the BIG DAY!  Bruce Norris will be presenting the 6th annual I Survived Real Estate 2013 at the Nixon Library in Yorba Linda.

Bruce Norris of The Norris Group will be holding their Distressed Property Bootcamp Tuesday-Thursday, October 22-24, 2013

Bruce Norris will be speaking at the Financial Tactics Brunch on Thursday, October 26, 2013.

Looking Back:

Many numbers in the news on this day.  Mortgage rates decreased again with 30-years now at 3.37% and 15-years at 2.66%.  Foreclosure activity was at a low not seen in five years at 49,026.  Unemployment claims increased again and were at 388,000.

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.

The Norris Group Real Estate News Roundup 8/15/13

Thursday, August 15th, 2013

Today’s News Synopsis:

Foreclosures increased 2% last month to 130,888, although they are still down year-over-year by 32%.  Unemployment claims decreased by 15,000 to 320,000 last week, the lowest since January 2008.  The Federal Reserve announced it may be making more cuts, starting with the Treasurys.


In The News:

Housing Wire“Arizona loses spot as foreclosure-riddled state” (8-15-13)

The nation’s foreclosure landscape is changing rapidly.  While it looks like foreclosure activity continued to boil over in a select group of markets in July, Arizona slid out of its top 10 highest foreclosure rate slot for the first time since the zenith of the housing boom.”

Mortgage Professional America“Foreclosures creep up” (8-15-13)

“Foreclosure filings jumped to 130,888 in July, a 2% increase from June’s 78-month low, but still down 32% from 12 months ago.”

DS News“First-Time Jobless Claims at Pre-Recession Levels” (8-15-13)

“First-time claims for unemployment insurance for the week ending August 10 fell to the lowest level since January 2008, the Labor Department reported Thursday.”

NAHB“Builder Confidence Rises Three Points in August” (8-15-13)

“Builder confidence in the market for newly built, single-family homes rose three points to 59 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for August, released today.”

Realty Times“Originators Largely Responsible For Higher Closing Costs” (8-15-13)

“It’s not enough that home prices are rising and mortgage interest rates are trending up. Closing costs are on the rise, also cutting into affordability for buyers.”

Housing Wire“Homeowners ‘securitization theory’ BofA claim dismissed” (8-15-13)

“The Nordeens fell on hard times in Las Vegas. The couple fell behind on their $140,000 Countrywide loan backed by a rental investment..”

DS News“Mortgage Rates Stabilize, with 30-Year Unchanged from Prior Week” (8-15-13)

“Having spent the last several months bouncing around, average fixed mortgage rates were little changed over the last week as market speculation settled.”

Housing Wire - “Treasurys may face Fed chopping block before MBS” (8-15-13)

“As secondary markets continue to walk on eggshells around Federal Reserve unpredictability regarding when it will begin tapering its quantitative-easing bond-buying program, analysts believe Treasurys will be the first on the chopping block.”

 

Hard Money Loan Closed

Hesperia, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $65,000 on a 2 bedroom, 2 bathroom home appraised for $106,000.

 

Bruce Norris of The Norris Group will be speaking at SJREI Poised to Pop Thursday, September 5, 2013.

Bruce Norris will be presenting How to Make a Million in 24 Months in San Jose on Saturday, September 7, 2013.

Bruce Norris will be presenting InvestClub for Women Poised to Pop on Tuesday, September 17, 2013.

On Friday, October 18, Bruce Norris will be presenting the 6th annual I Survived Real Estate.

Looking Back

Builder confidence increased for the fourth month in a row and was at its highest since February 2007 with a two point gain.  New rules were being established for conducting appraisals for loans that had a higher risk.  An investigation into mortgage fraud by the combined action of the federal and state agencies was eminent.

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.

The Norris Group Real Estate News Roundup 5/28/13

Tuesday, May 28th, 2013


Today’s News Synopsis:

The Lender Processing Services reported home prices increased month-over-month in March by 1.4% and are now at their highest since March 2006.  10-year notes are under performing where they should be, although this may be positive for investors looking to enter the market.  LPS is being purchased by Fidelity National Financial for a price of $2.9 billion.

In The News:

Housing Wire - “10-year Treasury yields offer relative value for investors: RBS” (5-28-13)

“Investors should look to purchasing 10-year Treasury notes compared to 15-year paper since 10-year paper has underperformed in an environment where they should be outperforming, analysts claim. This particular trend may create a nice entry-point for investors, the same report alleges.”

DS News“Fidelity National Financial Agrees to Purchase LPS for $2.9B” (5-28-13)

“Fidelity National Financial, Inc. (FNF), has entered into an agreement to acquire Lender Processing Services, Inc. (LPS), the Jacksonville, Florida-based companies announced jointly.”

Housing Wire“LPS home prices rise 1.4%” (5-28-13)

“Home prices in the U.S. continued to increase from February to March, up 1.4% from the previous home index report, and up 7.6% from one-year prior, Lender Processing Services reported in its March U.S. Home Price Index report.”

DS News - “Incorrect, Outdated Information Most Common Issue on Credit Reports” (5-28-13)

“While 22 percent of Americans admitted they have never checked their credit report, nearly a quarter also said they have encountered issues with their credit report, with incorrect or outdated negative marks leading as the main type of problem, according to a recent FindLaw.com survey.”

Realty Times - “National Housing Recovery Loses Distressed Sales, Gains Inventory, Sustainability” (5-28-13)

“Increased home sales and booming prices are both great news from the housing sector, but even better news reveals the housing recovery is not only gaining speed, but it’s also returning to a level of sustainable normality.”

Housing Wire - “RMBS servicers shift focus to short sales” (5-28-13)

“For the past several months, residential mortgage-backed securities servicers underwent a seachange for underperforming residential loans, analysts claim.”

Bloomberg - “Home Prices in U.S. Rise by Most Since 2006 in March” (5-28-13)

“Home prices rose in the 12 months through March by the most in seven years as the recovery in residential real estate gained momentum.  The S&P/Case-Shiller index of property values increased 10.9 percent from March 2012, the biggest 12-month gain since April 2006, after advancing 9.4 percent in February, a report showed today in New York.”

Hard Money Loan Closed

Moreno Valley, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $113,000 on a 3 bedroom, 2 bathroom home appraised for $163,000.

 

Bruce Norris of The Norris Group will be presenting How to Make a Million in the Next 24 Months in Orange on Saturday, June 1, 2013.

Bruce Norris of The Norris Group will be presenting his Free Pre-Event Webinar for California Comeback 2: Fast, Furious & Dangerous with Chino Valley on Friday, June 7, 2013.

Bruce Norris of The Norris Group will be speaking at the Cutting Edge Financial Tactics Brunch in Costa Mesa on Saturday, June 8, 2013.

 

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.

The Norris Group Real Estate News Roundup 5/2/13

Thursday, May 2nd, 2013


Today’s News Synopsis:

Mortgage rates decreased for the fifth consecutive week with 30-year rates at 3.35% and 15-year rates at 2.56%, their lowest on record.  Almost 2,000 bank branches have been shut down since 2008, 93% of them determined to be in low income areas.  Housing costs are taking their toll on renters despite home affordability being at its highest on record.

In The News:

Bloomberg - “Mortgage Rates Drop for Fifth Week as 15-Year Sets Record” (5-2-13)

“Mortgage rates in the U.S. fell for a fifth week, with costs for a 15-year loan reaching a record low, adding support for housing demand as home prices climb.”

DS News“Report: More than 1 in 4 Working Renters Face Severe Housing Costs” (5-2-13)

“While home affordability has reached record high levels, for renters, housing cost burdens have been steadily increasing.”

Housing Wire“Snowball effect: Shared appreciation bill fuels FHFA nomination” (5-2-13)

“President Barack Obama’s nomination of Rep. Mel Watt, D-N.C., to replace Ed DeMarco at the Federal Housing Finance Agency comes at a time when, interestingly enough, shared-appreciation pilot program efforts are hitting Congress.”

DS News - “GSE Reminds Servicers of Default-Related Legal Services Requirement” (5-2-13)

“In a notice Thursday, Freddie Mac encouraged servicers to prepare for new requirements for default-related legal services that will take effect in less than a month.”

Bloomberg - “Predator Targets Hit as Banks Shut Branches Amid Profits” (5-2-13)

“Banks that opened more than 15,000 branches across the U.S. in the decade leading to the financial crisis are retreating from lower-income neighborhoods, even as the industry posted its second-most-profitable year on record.”

DS News - “RealtyTrac: Where to Find the Biggest Flipping Profits” (5-2-13)

“Amid the rumors of bidding wars are markets where the art of flipping can still be maintained.”

CNN Money - “Hedge fund manager: Fed should rev up ‘printing press’” (5-2-13)

“Hedge fund manager Dan Arbess thinks the Federal Reserve should use its ‘printing press’ to funnel money directly to the Treasury instead of simply buying more bonds.”

Hard Money Loan Closed

Anaheim, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $230,000 on a 4 bedroom, 2 bathroom home appraised for $364,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived with FIBI OC on Tuesday, May 7, 2013.

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.

Looking Back:

The Mortgage Bankers Association reported a .1% increase in mortgage applications from the previous week.  Only 119,000 new jobs were added to the private sector last month, showing that businesses were not hiring as many people.  This number fell way below economists’ predictions of 170,000 new jobs.  Foreclosures were still at their highest on record despite delinquencies being at their lowest since August 2008.

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.

The Norris Group Real Estate News Roundup 2/1/13

Friday, February 1st, 2013



Sources:

Tight inventories weigh on prospects for 2013 growth
U.S. home prices crawl upward
U.S. Home Vacancies Fell in 4th Quarter From Prior Year
U.S. Mortgage Rates Rise With 30-Year Highest in 4 Months
Economy Adds Another 157,000 Jobs; Rate Up to 7.9%
Q4 GDP Falls for First Time Since Recession Ended
San Bernardino County Rejects Eminent Domain Proposal
Housing Recovery Hit by Low Inventory
FHA to hike premiums on mortgages
LPS Resolves ‘Robo-Signing’ Allegations in $127M Multistate Settlement

Today’s News Synopsis:

Aaron Norris gives the news of the week in the world of real estate in this week’s video.  The Labor Department reported 157,000 jobs were added last month, showing an increase in jobs but slower rate month-over-month when 196,000 jobs were added in December.  The multifamily market has showed tremendous progress across the nation with the housing crisis and stronger economic climate.

In The News:

CNN Money- “Jobs report: Steady hiring continues” (2-1-13)

“The jobs recovery continued to crawl forward at a slow pace in January, and there’s little hope it will pick up any time soon.  The U.S. economy added 157,000 jobs in January, according to a Labor Department report released Friday. That’s slower growth than in December, when employers hired 196,000 workers.”

Housing Wire“RBS: 10-year Treasury yield will grow despite bond-buying strategy” (2-1-13)

“The 10-year Treasury yield rose by 2% this week, its highest level since the Federal Reserve announced the continuation of an open-ended third round of quantitative easing on Sept. 13.”

DS News- “Report: Foreclosure Inventory Down Nearly 20% from Year Ago” (2-1-13)

“In December, the number of homes in some stage of the foreclosure process continued to shrink, and fewer homes were lost to foreclosure, according to the National Foreclosure Report from Corelogic.”

Housing Wire- “NRLB decision brings out CFPB opponents” (2-1-13)

“Opponents of the Consumer Financial Protection Bureau introduced legislation this week that would prevent the CFPB from enforcing or implementing regulations without a constitutionally confirmed director in place.”

Realty Times - “Mortgage Rates Trending Higher” (2-1-13)

“In Freddie Mac’s results of its Primary Mortgage Market Survey®, mortgage rates continuing to trend higher amid a growing economy led in part by the recovering housing market.”

Inman“IRS provides guidance on HAMP principle reductions” (2-1-13)

“The Home Affordable Modification Program (HAMP) was established a few years ago by the Departments of the Treasury and Housing and Urban Development to help homeowners who are underwater avoid foreclosure.”

DS News- “Multifamily Sector to Remain Strong with a Few Hiccups in Some Markets” (2-1-13)

“The recent housing crisis and the broader economic climate have led to a strong multifamily housing market nationwide. Marcus & Millichap Real Estate Investment Services’ recently released National Apartment Report promises another year of expansion in the multifamily market as ‘the alignment of powerful demographic and economic trends continues to fortify nationwide apartment performance’.”

Housing Wire“Lawmakers request more transparency in foreclosure settlement” (2-1-13)

“In an attempt to boost transparency, two lawmakers requested documents related to the $8.5 billion foreclosure settlement intended to compensate homeowners who allegedly experienced improper foreclosures.”

Hard Money Loan Closed

Winchester, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $195,000 on a 5 bedroom, 3 bathroom home appraised for $289,000.

 

Bruce Norris of The Norris Group will be speaking at the 2013 Real Estate and Tax Strategies Kick-Off Brunch on Saturday, February 9, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at OCREIA on Thursday, February 21, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at IEIF on Tuesday, February 26, 2013.

Looking Back:

170,000 jobs were added to the private sector, although job growth overall was slower for the month of January as companies were hiring fewer people.  In updated news from the previous day, the home ownership rate decreased for 7 years straight and was at levels that had not been seen in almost 14 years.  Both mortgage rates and applications continued to stay low.

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.

The Norris Group Real Estate News Roundup 12/14/12

Friday, December 14th, 2012


Sources:

See stories below

Today’s News Synopsis:

Aaron Norris of The Norris Group presents the real estate news of the week. If you want to read the full stories, check out the news stories featured below.  Some highlights of the week include a case reopened against Wells Fargo, the Federal Reserve’s increased balance sheet, Bruce Norris’ prediction of the California median price, and much more.

In The News:

DS News- “Consumers More Optimistic About Housing in Fannie Mae Survey” (12-10-12)

“Consumers’ perceptions of housing and the economy are growing more and more positive, according to responses in Fannie Mae’s November 2012 National Housing Survey.”

Housing Wire- “Barclays Capital projects rising home prices, fewer mortgage defaults” (12-10-12)

“Barclays Capital updated its home price scenario to feature additional home price data through September, underlying the RMBS prepayment and credit models with CoreLogic ($27.14 -0.17%) home price index data through the third quarter, reflecting continued momentum in the housing market.”

Mortgage Bankers Association- “Mortgage Rates Drop to New Lows in Latest MBA Weekly Survey” (12-12-12)

“Mortgage applications increased 6.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 7, 2012.”

DS News- “Foreclosure Starts Plunge to 71-Month Low, REO Activty Increases” (12-13-12)

“A significant drop in foreclosure starts brought down foreclosure activity in November, according to a foreclosure report from RealtyTrac.”

Bloomberg- “Homebuilders Boom as Lending Masks Uneven U.S. Recovery” (12-10-12)

“Construction is taking a back seat to lending for some U.S. homebuilders, turning the uneven housing recovery into an earnings boom.”

DS News“Rental Income Rises 12% Over the Year in September” (12-13-12)

“After growing just 1.3 percent in the second quarter of this year, the economy grew 2.7 percent in the third quarter—falling more in line with market predictions, according to CoreLogic.”

Los Angeles Times- “Wells Fargo not modifying mortgages as required, lawsuit says” (12-11-12)

“Accusing Wells Fargo & Co. of reneging on a sweeping mortgage-modification deal, a lawyer for troubled homeowners is trying to reopen a case involving risky “pick-a-pay” loans written during the housing bubble.”

Bloomberg- “Fed Seen Pumping Up Assets to $4 Trillion in New Buying” (12-11-12)

“The Federal Reserve will amplify record accommodation tomorrow by announcing $45 billion in monthly Treasury buying that will push its balance sheet almost to $4 trillion, according to a Bloomberg survey of economists.”

DS News- “New PSAs Seek to Deliver Message of Hope to At-Risk Borrowers” (12-12-12)

“Treasury, HUD, and the Ad Council are reaching out to struggling homeowners with a message of hope.”

DS News- “Mortgage delinquencies to remain high in 2013″ (12-12-12)

“If not for all the homeowners who haven’t paid their mortgages in more than a year, the nation’s home loan delinquency rate would be only slightly higher than normal, shows new research from credit monitor TransUnion.”

Hard Money Loan Closed

Los Angeles, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $180,000 on a 6 bedroom, 4 bathroom home appraised for $310,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at IRCA Los Angeles on Wednesday, January 2, 2012.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at Coachella Valley on Tuesday, January 8, 2012.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at the Apartment Owners Association on Thursday, January 17, 2012.

Looking Back:

In a big news story, mortgage applications increased 4.1% according to the most recent MBA Weekly Survey.  Home sales in Southern California increased the previous month from October and from the same time the year before according to Housing Wire.  In other news, mortgage fraud was the highest in California despite mortgage activity being down in the third quarter of 2011.

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.

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

Wednesday, December 12th, 2012

Today’s News Synopsis:

Mortgage rates are at new record lows again at 3.47% according to the latest Mortgage Bankers Association survey, although applications are up 6.2%.  The Treasury, HUD and the Ad Council are seeking ways to offer hope to homeowners in crisis through their Foreclosure Prevention Assistance Public Service Advertising Campaign.  Delinquency rates are expected to remain at high levels in 2013.

In The News:

Housing Wire- “CoreLogic: Rental income profit, demand remain strong for investors” (12-12-12)

“Rental income on residential properties shot up 12% over last year during the month of September as rents continued to rise on new demand, CoreLogic ($27.35 0.1%) said in its latest December MarketPulse report.”

DS News- “New PSAs Seek to Deliver Message of Hope to At-Risk Borrowers” (12-12-12)

“Treasury, HUD and the Ad Council are reaching out to struggling homeowners with a message of hope.”

Mortgage Bankers Association- “Mortgage Rates Drop to New Lows in Latest MBA Weekly Survey” (12-12-12)

“Mortgage applications increased 6.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 7, 2012.”

Realty Times“End of Year Surge in Refinances While Mortgage Rates Remain Low “ (12-12-12)

“As we head towards the end of the year 2012, many homeowners are making a move to refinance before heading into the new year.”

DS News- “Short Sales in Southern Nevada Remain High: GLVAR “ (12-12-12)

“In Southern Nevada, short sales still proved to be a popular trend as the housing market moves further away from foreclosures, according to data from the Greater Las Vegas Association of REALTORS (GLVAR).”

USA Today- “Mortgage delinquencies to remain high in 2013″ (12-12-12)

“If not for all the homeowners who haven’t paid their mortgages in more than a year, the nation’s home loan delinquency rate would be only slightly higher than normal, shows new research from credit monitor TransUnion.”

Inman- “Group warns against return of ‘dual credit’ mortgage market” (12-12-12)

“The spillover impacts of foreclosures have wiped out nearly $2 trillion in household wealth, and the housing downturn resulted in the largest documented wealth gap between white households and families of color, the Center for Responsible Lending says in a report released today.”

Bloomberg- “BofA Seeks to Knock Out MBIA Claims Tied to Countrywide” (12-12-12)

“Bank of America Corp., the second- biggest U.S. lender, began an effort today to defeat bond insurer MBIA Inc. (MBI)’s bid to force the bank to pay billions of dollars over home loans.”

Hard Money Loan Closed

Cathedral City, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $91,000 on a 3 bedroom, 2 bathroom home appraised for $143,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at IRCA Los Angeles on Wednesday, January 2, 2012.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at Coachella Valley on Tuesday, January 8, 2012.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at the Apartment Owners Association on Thursday, January 17, 2012.

Looking Back:

U.S. bank credit saw its fastest growth in three years, leading the Federal Reserve to believe the economy would continue to expand.  Housing Wire reported that more security analysts prefered the large mortgage servicers despite their reported difficulties.  The Realty Times gave an overview of the current market, citing a decrease in unemployment but not much improvement in construction employment.

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.

The Norris Group Real Estate News Roundup 11/30/12

Friday, November 30th, 2012



Sources:

October pending and distressed sales report
October Marks 12 Months of Home Value Increases
Sustained home price gains show strength of recovery
Sales of New U.S. Homes Fell 0.3% in October
New-home sales up 17.2 percent from a year ago
Pending home sales reach five-year high
GDP Up 2.7% in Q3, Corporate Profits Grow
Initial Unemployment Claims Fall as Sandy’s Impact Dissipates
Home Equity Loans Make Comeback Fueling U.S. Spending
Bankrate: Consumers Less Positive About Personal Finances
Zig Ziglar

Rising Prices Could Lift 3.5M Homeowners Out of Negative Equity

Today’s News Synopsis:

Aaron Norris of the Norris Group provides the news of the week for the world of real estate.  With little change in personal income, consumer spending decreased 0.2% after increasing 0.8% in September.   Over 90,000 loans were refinanced by Fannie Mae and Freddie Mac through the HARP program last September.  The total number of loans refinanced through the program is now at 1.7 million.

In The News:

DS News- “Trulia: Housing Recovery Nears Halfway Mark” (11-30-12)

“The housing recovery is nearly halfway complete, according to Trulia’s Housing Barometer, which in October posted its largest increase since it began tracking recovery 18 months ago.”

Bloomberg- “Goldman Pushes Subprime ABX Index as Housing Rebounds: Mortgages” (11-30-12)

“Goldman Sachs (GS) Group Inc., which survived the U.S. real estate collapse five years ago with the help of derivative bets against subprime mortgages, is promoting the opposite trade to clients as housing recovers”

CNN Money- “Consumer spending drops as income stalls” (11-30-12)

“Consumers spent less in October, as income growth stalled.  The Commerce Department reported Friday that consumer spending fell 0.2% after an 0.8% jump in September.”

Realty Times- “Mortgage Rates Virtually Unchanged” (11-30-12)

“In Freddie Mac’s results of its Primary Mortgage Market Survey®, fixed mortgage rates were virtually unchanged and remaining near their record lows amid growing concerns around the fiscal cliff.”

Housing Wire- “Barclays down plays chance of FHA Treasury draw” (11-30-12)

“Barclays Capital ($15.83 0.17%) does not expect any significant changes to the Federal Housing Administration, and downplays the chance of a Treasury draw, despite headlines suggesting otherwise based on the recent actuarial report.”

DS News“Sandy Crashes October Income, Spending” (11-30-12)

“Consumer spending fell $20.2 billion in October as personal income remained relatively flat, the Bureau of Economic Analysis (BEA) reported Friday.”

Realty Trac- “Win the Foreclosure Bidding Wars” (11-30-12)

“Buying foreclosures with retirement funds provides real estate investors with tax benefits and the ability to diversify their retirement investing — in any market.”

DS News- “HARP’s Numbers Continue to Climb Since Revisions” (11-30-12)

“Fannie Mae and Freddie Mac refinanced more than 90,000 mortgages through the Home Affordable Refinance Program (HARP) in September, bringing the program’s total reach to 1.7 million since its inception in 2009, according to the latest refinance report from the Federal Housing Finance Agency.”

Hard Money Loan Closed

Lancaster, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $54,000 on a 3 bedroom, 2 bathroom home appraised for $90,000.

 

Bruce Norris of The Norris Group will be at the NSDREI Holiday Christmas Party at the El Camino Country Club in Riverside on Sunday, December 2, 2012.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at the Scottish Rite Center in San Diego on Tuesday, December 11, 2012.

The Norris Group will be holding their Distressed Property Boot Camp from January 29-31, 2012.

Looking Back:

According to the Los Angeles Times, the Federal Reserve and five major central banks were hoping to help solve the debt crisis by joining together to help European lenders obtain money more easily.  In other news, Bloomberg reported a 10.4% increase in pending home sales.   According to the latest MBA Weekly Mortgage Applications Survey, mortgage applications decreased over 11% from the previous week.

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.