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By Bruce Norris .

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

Wednesday, May 8th, 2013


Today’s News Synopsis:

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

In The News:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Hard Money Loan Closed

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

 

Bruce Norris of The Norris Group will be presenting Poised to Pop: Quadrant Four Has Arrived with Asian REIA on Wednesday, May 15, 2013.

Bruce Norris of The Norris Group will be presenting Poised to Pop: Quadrant Four Has Arrived with TIGAR on Thursday, May 16, 2013.

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

Looking Back:

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

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.

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The Norris Group Real Estate News Roundup 4/26/13

Friday, April 26th, 2013



Sources:

Today’s News Synopsis:

Aaron Norris gives the news of the week in the world of real estate in this week’s video.  Shaun Donovan of HUD announced a new plan to put $1.7 billion into a recovery act for those hit hardest by Hurricane Sandy.  GDP increased 2.5% in the first quarter, slower than expected but drastically higher than the previous quarter.

In The News:

Housing Wire - “San Francisco housing market becomes nearly unaffordable” (4-26-13)

“At a recent real estate conference in Dallas, Trulia Chief Economist Jed Kolko discussed how his hometown, San Francisco, was experiencing unreasonably high prices as a result of extremely limited potential land development and tight inventory.”

DS News – “Moody’s: Home Prices to Increase, Loss Severities to Remain High” (4-26-13)

“Home prices will increase over the next three years as the economy expands and servicers work through their distressed inventories, according to a report from Moody’s Analytics.  However, the firm predicts rising prices will not be enough to offset anticipated rising loss severities.”

Bloomberg – “Investor Passion Cooling for Private Mortgage Securities” (4-26-13)

“Investors’ rekindled passion for sales of private mortgage securities is cooling.  Yields on $397.3 million of top-rated securities sold yesterday by Redwood Trust Inc. (RWT) were 175 basis points more than benchmark swap rates, up from 170 basis points on bonds it sold earlier this month and 97 basis points, or 0.97 percentage point in January.”

Housing Wire - “Hardest-hit communities receive funding to rebuild” (4-26-13)

“Policymakers are taking further action to help homeowners and neighborhoods devastated by the aftermath of super storms.”

DS News - “Non-Investor Homebuyers also Driving Market Recovery, Survey Finds” (4-26-13)

“Investors aren’t the only major players driving the housing recovery. According to results from the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey for March, first-time homebuyers and current homeowners are also building a strong presence as they dominate the non-distressed market.”

CNN Money - “When will the debt ceiling need to be raised?” (4-26-13)

“If you enjoy the spectacle of lawmakers fruitlessly fighting over the budget, then you’re in luck. Congress is expected to have even more time to chase its tail this summer before it must do something concrete — raise the country’s legal debt limit.”

Realty Times - “Short Sale Lease Back Alternative to Foreclosure Available” (4-26-13)

“Some lenders will allow you to buy a home immediately after a short sale in certain circumstances and others will give you a mortgage two to three years after a short sale.”

DS News - “Q1 GDP Shows Sharp Gain Over Previous Quarter” (4-26-13)

“The nation’s economy rose at a seasonally adjusted annual rate of 2.5 percent in the first quarter, slightly slower than economists had expected but more than six times the growth rate in the fourth quarter, the Bureau of Economic Analysis (BEA) reported Friday.”

Hard Money Loan Closed

Rialto, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $125,000 on a 3 bedroom, 2 bathroom home appraised for $199,000.

 

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 National Association of Realtors reported a 4.1% increase the previous month in the purchases of pending homes.  More and more homes were being foreclosed on after having been put on hold due to the recent robo-signing issues.  Jobless claims declined by 9,000 from the previuos week, but they were still at levels higher than wanted.  Fixed mortgage rates were still at their lowest on record at 3.00% for 30-year and 3.12% for 15-year.

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.

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The Norris Group Real Estate News Roundup 4/17/13

Wednesday, April 17th, 2013


Today’s News Synopsis:

The Mortgage Bankers Association reported mortgage applications increased 4.8% from last week.  Home builder sentiment increased by three points to 53, the highest in six years.  Bank of America posted their profit for the first quarter of 2013 at $2.6 billion.

In The News:

DS News - “Fed: ‘Problems’ with Cashing Foreclosure Settlement Checks Corrected” (4-17-13)

“Although about 50,000 checks from the recent foreclosure settlement have been cashed or deposited as of Monday, April 15, according the Federal Reserve and the Office of the Comptroller of the Currency (OCC), not all recipients were able to cash their checks.”

Housing Wire – “BofA posts 1Q profit, mortgage banking a mixed bag” (4-17-13)

“Bank of America posted a profit of $2.6 billion, or 20 cents a share, for the first quarter of 2013.”

Mortgage Bankers Association – “Mortgage Applications Increase in Latest MBA Weekly Survey” (4-17-13)

“Mortgage applications increased 4.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 12, 2013.”

Inman - “Trulia survey casts light on homeowner regrets” (4-17-13)

“In a nod to today’s acute inventory shortage, Trulia recently conducted  a “regrets survey,” saying in a blog post that the survey’s results are particularly relevant because the tight supply of the current market is likely to rush buyers into making purchases without doing proper due diligence.”

Bloomberg - “Student Debtors Retreat From Home Buying, NY Fed Data Show” (4-17-13)

“Student-loan borrowers under 30 are retreating from the housing and auto markets, an analysis of data by the Federal Reserve Bank of New York shows.”

Realty Times - “Home Builder Sentiment Highest in Six Years” (4-17-13)

“Although U.S. home builders are concerned about the rising costs of building materials, home builder sentiment for future sales expectations in the next six months climbed three points to 53 and is at the highest level reached in more than six years, February of 2007, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).”

Housing Wire - “Housing moves forward despite economic setbacks: Fannie Mae” (4-17-13)

“The fiscal headwinds from tax hikes and sequestration should restrain economic growth and counter the tailwinds from housing as well as the continued Federal Reserve ultra-easy monetary policy.”

Housing Wire – “HUD Secretary sounds alarm on FHA taxpayer bailout” (4-17-13)

“Members of the House Committee on Appropriations fired off questions Wednesday to Shaun Donovan, secretary of the Department of Housing and Urban Development, seeking answers to how the Federal Housing Administration will avoid a potential $943 million first-time Treasury draw.”

Hard Money Loan Closed

Hesperia, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $63,000 on a 3 bedroom, 2 bathroom home appraised for $98,000.

 

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 TIGAR on Thursday, May 16, 2013.

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

Looking Back:

Housing starts showed disappointing numbers the prior month with a 5.8% drop from February 2012.  The Lender Processing Services reported more short sales than foreclosures with banks agreeing to sell houses below the mortgage amount.  Housing permits increased 4.5% in March 2012, bringing them to their highest level in four 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.

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The Norris Group Real Estate News Roundup 4/5/13

Friday, April 5th, 2013



Sources:

Today’s News Synopsis:

Aaron Norris gives the news of the week in the world of real estate in this week’s video.  Asking prices on single-family homes increased last month while rent prices continued to remain stable.  Construction jobs increased 3.8% year-over-year and are at their highest in 7 years.

In The News:

DS News - “Asking Home Prices Swing Up in March, Rents at Stand-Still” (4-5-13)

“Asking prices on single-family homes rose in March, while high inventory flattened out rent prices, according to Trulia’s Price and Rent Monitors.”

Housing Wire - “Fragility continues to threaten housing recovery” (4-5-13)

“The latest data from the Obama Administration revealed important progress in the housing rebound, but much like the last scorecard, it continues to warn that the overall recovery remains fragile.”

Inman – “Construction job growth hits 7-year high” (4-5-13)

“While today’s job’s report was disappointing on nearly all fronts, there was one bright spot that shone through the dismal numbers: sustained construction-job growth.”

Realty Times – “Desire To Buy Increasing As Confidence Returns” (4-5-13)

“Here we go. Americans are showing more desire to buy homes. In fact, the American dream is more alive than it has been in years – it’s reached a three-year high with 79 percent of U.S. residents saying that owning a home is an essential part of that all-American dream.”

DS News - “Watchdog Report Identifies Flaws in Foreclosure Review Process” (4-5-13)

“When federal regulators announced the abrupt ending of the Independent Foreclosure Review in place of a new agreement, the conclusion to the review process led to more questions than answers.”

Housing Wire - “Principal reductions factor in heavily: HAMP report” (4-5-13)

“Of all non-GSE mortgages eligible for principal reductions through the government’s Home Affordable Modification Programs, 70% actually included a principal reduction component during the month of February, the Obama administration said Friday.”

Inman - “Multiuse development projects infuse communities with new life” (4-5-13)

“Unsprawl chronicles re-envisioned housing communities in 12 case studies.”

DS News - “Survey: CFPB and Dodd-Frank Plague Lenders with Uncertainty” (4-5-13)

““Uncertainty” is a term that has plagued the lending industry for some time. Since the introduction of Dodd-Frank three years ago, uncertainty about the future of industry regulation has been a source of concern among close to half of lenders, according to QuestSoft, a Laguna Hills, California-based software provider.”

Hard Money Loan Closed

South El Monte, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $205,000 on a 3 bedroom, 2 bathroom home appraised for $324000.

 

Bruce Norris of The Norris Group will be presenting How to Make a Million Dollars Maximizing the Next 24 Months on Saturday, April 6 in Sacramento.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at with High Desert Real Estate on Thursday, April 11, 2013.

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.

Looking Back:

Claims for unemployment declined by 6,000, while the number of jobs planned to be cut decreased by 27%.  Freddie Mac reported 30-year fixed-rate mortgages had not shown much change and were still below 4%.  Rents continued to increase as home prices remained at a standstill.

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.

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The Norris Group Real Estate News Roundup 3/20/13

Wednesday, March 20th, 2013


Today’s News Synopsis:

According to the latest MBA Mortgage Applications Survey, applications for mortgages decreased 7.1% from last week.  Several banks are facing a lawsuit from Freddie Mac for libor manipulation.  Morgan Stanley reported the housing market is showing some signs of improvement, but there are still some factors causing hindrances to a full recovery.

In The News:

DS News- “Average Months in Distress Extended in Judicial, Non-Judicial States” (3-20-13)

“The time properties stay in distress before going to sale has increased nearly five fold since 2003 in non-judicial states, according to CoreLogic’s March MarketPulse report.”

Bloomberg – “Freddie Mac Sues Multiple Banks Over Libor Manipulation” (3-20-13)

“Freddie Mac (FMCC) sued Bank of America Corp., UBS AG (UBSN), JPMorgan Chase & Co. (JPM) and a dozen other banks over alleged manipulation of the London interbank offered rate, saying the mortgage financier suffered substantial losses as a result of the companies’ conduct.”

Housing Wire – “Housing on track to improve, but hurdles remain: Morgan Stanley” (3-20-13)

“Strong momentum in home prices as well as housing activity gave Morgan Stanley analysts enough confidence to upgrade their home price appreciation projections to roughly 7% for 2013, according to its latest global securitized credit report..”

CNN Money - “Veteran unemployment dropped to 9.9% in 2012″ (3-20-13)

“The unemployment rate for veterans dropped last year, according to a report out Wednesday from the U.S. Bureau of Labor Statistics, but vets still lag behind non-vets in the job market.”

Realty Times - “Growing Home Equity Makes Refinancing Possible” (3-20-13)

“The Federal Reserve recently released data which shows that American homeowners’ net equity holdings in their homes has increased by nearly half a trillion dollars during the last last three months of 2012.”

Mortgage Bankers Association - “Mortgage Applications Decrease in Latest MBA Weekly Survey” (3-20-13)

“Mortgage applications decreased 7.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 15, 2013.”

DS News - “Trulia: Owning Costs 44% Less Than Renting” (3-20-13)

“Home price gains may be outpacing increases in rent, but the cost of being a homeowner is still much less than that of being a renter, according to Trulia’s Winter 2013 Rent vs. Buy report.”

Housing Wire- “Ellie Mae: Continued LTV upswing indicates HARP traction” (3-20-13)

“Mortgages with loan-to-value ratios of 95% and above experienced a refinancing spike in February, indicating that the Home Affordable Refinancing Program continues to gain traction, Ellie Mae said in its latest origination report.”

Hard Money Loan Closed

Studio City, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $765,000 on a 5 bedroom, 3.5 bathroom home appraised for $1,275,000.

 

The Norris Group will be holding their Distressed Property Boot Camp from March 26-28, 2013.

Bruce Norris of The Norris Group will be presenting How to Make a Million Dollars Maximizing the Next 24 Months on Saturday, April 6 in Sacramento.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at with High Desert Real Estate on Thursday, April 11, 2013.

Looking Back:

As of the previous month, housing starts were at their highest they had been in three years as well as building permits increased.  Fannie Mae and Freddie Mac completed a total of 1.1 million loan modifications since September 2008.  The Chief Financial Officer for Taylor, Bean, and Whitaker pleaded guilty on this day for his role in a $2.9 billion mortgage fraud scheme.

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.

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The Norris Group Real Estate News Roundup 3/5/13

Tuesday, March 5th, 2013


Today’s News Synopsis:

CoreLogic reported home prices increased 9.7% in January, the highest in seven years.  Asking prices for homes increased 7% in February according to Trulia, although at the same time inventory decreased 23%.  The California Department of Real Estate will be no more as of July 1, 2013.

In The News:

DS News- “Asking Prices Rise in February; Inventory Falls” (3-5-13)

“National asking home prices have risen 7.0 percent year-over-year since bottoming out last February, Trulia revealed in its February Price Monitor Report.”

Realty Times – “No More Department of Real Estate in California” (3-5-13)

“The days of California’s Department of Real Estate (DRE) are numbered. Effective July 1, 2013, it will cease to exist.”

Housing Wire – “Housing demand to grow as new immigrants arrive” (3-5-13)

“Rental and homeownership demand from new U.S. immigrants is expected to grow as more foreign-born citizens settle into the U.S, according to a new report.”

Inman- “Home prices take biggest leap in 7 years” (3-5-13)

“National home prices in January were up 9.7 percent from a year ago, the biggest annual increase since April 2006, according to data aggregator CoreLogic’s home price index.”

Mortgage Bankers Association - “Commercial/Multifamily Mortgage Delinquency Rates Continued Down in Fourth Quarter” (3-5-13)

“Delinquency rates continued to decline for commercial and multifamily mortgage loans in the fourth quarter of 2012, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report.”

Housing Wire - “MBS investors call for transparency in creating new securitization platform” (3-5-13)

“The call for the end of both Fannie Mae and Freddie Mac along with a trend by the government to sever ties with public sector entities and promote a single securitization platform has prompted investors to wonder about the potential effects on securitized markets.”

DS News - “Fannie Mae Announces 2012 Servicer Scorecard Results” (3-5-13)

“Fannie Mae unveiled 2012 program results for the Servicer Total Achievement and Rewards (STAR) scorecard.”

Hard Money Loan Closed

La Puente, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $190,000 on a 4 bedroom, 1.5 bathroom home appraised for $297,000.

 

The Norris Group will be holding their Distressed Property Boot Camp from March 5-7, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at IVAOR TOMORROW.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at NORCALREIA on Wednesday, March 13, 2013.

Looking Back:

Another bank closed in Georgia on Friday, bringing the total up to 12 for bank closures.  DS News reported a higher number of foreclosures in January 2012 than loan modifications, the first time this had occurred since October 2009.  Pending home sales were increasing this month, according to the National Association of Realtors.   Fitch feared home prices could drop again another 9.1%.

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.

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The Norris Group Real Estate News Roundup 1/29/13

Tuesday, January 29th, 2013


Today’s News Synopsis:

Vacancies of homes declined in the fourth quarter.  Rentals declined to 8.7% while owner-occupied homes decreased to 1.9%.  Mortgage rates decreased slightly last month to 3.29% according to the Federal Housing Finance Agency.  Housing starts showed the biggest gain in Las Vegas, the same city hit hardest by the real estate crash.

In The News:

Housing Wire- “Amherst predicts $30 billion in new origination for private-label securitization” (1-29-13)

“Senior Managing Director Laurie Goodman at Amherst Securities Group noted that she expected new origination for private-label securitization to reach roughly $30 billion for the yea.”

Bloomberg – “U.S. Home Vacancies Fell in 4th Quarter From Prior Year” (1-29-13)

“U.S. residential vacancy rates declined in the fourth quarter as housing demand improved amid job gains, the Census Bureau reported.”

DS News- “Case-Shiller Indexes Show Sharp Annual Gain in November” (1-29-13)

“Despite seeing a month-over-month drop, the 10- and 20-city Case-Shiller Home Price Indexes registered their strongest year-over-year improvement in two and a half years on a non-seasonally adjusted basis, Standard & Poor’s reported Tuesday.”

Housing Wire- “Languishing Home Improvement Market ‘Poised’ for Rebound: Study” (1-29-13)

“After experiencing a downturn, spending on home improvement may finally register an increase in 2012, with the market appearing to be “poised for a solid rebound,” according to a recent report from the Harvard Joint Center for Housing Studies.”

DS News- “Las Vegas Area Leads U.S. in Home-Construction Gains” (1-29-13)

“Las Vegas, one of the hardest-hit cities in the U.S. real estate crash, had the biggest jump in housing starts in the fourth quarter, almost doubling from a year earlier.”

Inman- “Trulia providing continuous listings updates” (1-29-13)

“In an effort to provide consumers with the most current information, Trulia is now updating the listing data it receives directly from multiple listing services (MLS) on a continuous basis, the company said today.”

DS News – “Report: Remodeling Projects That Yield the Greatest ROI” (1-29-13)

“A lot of homes can use a facelift, especially properties in distress, but some projects may not be worth the sweat and dollars when considering the return on investment (ROI).”

Housing Wire- “D.R. Horton: Net income rises 139% on building activity” (1-29-13)

“Homebuilder D.R. Horton ($21.31 0%) revealed Tuesday that net income for its first fiscal quarter of 2013 increased 139% to $66.3 million, or $0.20 per diluted share.”

Hard Money Loan Closed

Wilmington, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $150,000 on a 4 bedroom, 3 bathroom home appraised for $358,000.

 

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

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.

 

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.

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The Norris Group Real Estate News Roundup 1/3/13

Thursday, January 3rd, 2013

Today’s News Synopsis:

The number of foreclosures completed last November was 55,000, down 18% year-over-year.  The Mortgage Bankers Association reported a 21.6% decrease in mortgage applications for the week ending December 28.  First-time jobless claims increased by 10,000 and are now at 372,000 according to the Labor Department.

In The News:

Bloomberg- “Housing Lobby’s Win Costing U.S. $600 Billion: Mortgages” (1-3-13)

“Congressional efforts to reduce the U.S. deficit revived tax breaks for mortgage insurance and extended interest deductions for homeowners that will cost the government $600 billion over five years.”

Housing Wire- “Trulia: Las Vegas and Seattle lead housing turnaround” (1-3-13)

“Home prices increased 5.1% in December year-over-year, drastically improving from December 2011 when they were down 4.3% from the year before, real estate data firm Trulia said.”

DS News- “Completed Foreclosures Down 18% from Year Ago: CoreLogic” (1-3-13)

“Fewer homes were added to foreclosure inventory in November as short sales become a more commonly used tool to prevent foreclosure, according to a recent CoreLogic report.”

Mortgage Bankers Association – “Mortgage Applications Decrease in Final Two Weeks of the Year” (1-3-13)

“The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Application Survey for the two weeks ending December 21, 2012 and December 28, 2012.”

Realty Times- “New Year Begins with Mortgage Rates Remaining Low” (1-3-13)

“There is no doubt that the residential housing market gained momentum in 2012. As the New Year begins with mortgage rates remaining low, it is expected that this movement towards recovery will continue to bring improvements that will filter down into other areas of the economy.”

Housing Wire- “HUD: Renters get more bang for their buck” (1-3-13)

“Detailed information on the nation’s housing sector for homeowner as well as renter experiences are available for the first time with American FactFinder data access tool.”

DS News- “First-Time Jobless Claims Finish Year at 372K” (1-3-13)

“First-time claims for unemployment insurance rose 10,000 to 372,000 for the week ending December 29, the third-lowest level of the year, the Labor Department reported Thursday.”

Inman- “Real estate agent mentor Howard Brinton dies at 72″ (1-3-13)

“Howard Jones Brinton, a real estate sales motivational speaker and the founder and CEO of the Star Power Systems sales training organization, died Dec. 26 at his home in Utah. He was 72.”

Hard Money Loan Closed

San Bernardino, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $42,000 on a 1 bedroom, 2 bathroom home appraised for $70,000.

 

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 SocalREIA on Thursday, January 10, 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:

According to the latest report by Standard and Poor’s, the prices of homes were back at levels not seen since 2001.  Bloomberg reported an increase in construction spending in November for the third month in a row.  Mortgage rates were still at the lowest they had ever been.

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.

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The Norris Group Real Estate News Roundup 12/21/12

Friday, December 21st, 2012



Sources:
Missouri Bank Closing Raises 2012 Tally to 51
Real Estate Outlook: RealtyTrac’s November Foreclosure Report
Builder Confidence Continues Improving in December
Prices Continue to Climb in November: RE/MAX
Groups Gather to Assist New York Homeowners Impacted by Sandy
California foreclosure inventory shrinks on short sales, loan mods

Today’s News Synopsis:

Aaron Norris gives the news of the week in the world of real estate in this week’s video. Home values increased for the first time since 2006 according to Zillow.  Personal income also increased 0.6% last month.

In The News:

Housing Wire- “Housing recovery crosses halfway mark: Trulia” (12-21-12)

“The housing industry is 51% back to normal, according to a Trulia ($16.12 -0.13%) assessment of key housing statistics.”

DS News- “Zillow: Home Values to See First Annual Cumulative Gain Since 2006″ (12-21-12)

“After five years of cumulative losses, home values will finally post their first annual gain, according to data from Zillow.”

Realty Times- “Mortgage Rates Mixed, 30-Year Fixed Averages 3.37 Percent” (12-21-12)

“In Freddie Mac’s results of its Primary Mortgage Market Survey®, fixed mortgage rates were mixed following data reports on inflation and the housing construction market. The 30-year fixed moved up averaging 3.37 percent, while the 15-year fixed eased to 2.65 percent, both remaining near their record lows.”

Housing Wire – “LPS: 7.12% of U.S. loans are delinquent” (12-21-12)

“Mortgage delinquencies ticked up in November even though the nation continued to experience declining distressed inventory levels and fewer delinquencies year-over-year, according to data firm Lender Processing Services.”

DS News- “Personal Income Jumps In November” (12-21-12)

“Personal income jumped 0.6 percent in November—twice what economists forecast—improving $85.8 billion, while spending rose a hefty 0.4 percent, the Bureau of Economic Analysis (BEA) reported Friday. The growth in spending matched economists’ forecasts.”

 

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.

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.

Looking Back:

The NAHB reported an increase in confidence for homebuilding for the third month in a row.  However, mortgage rates were down to a new low according to the latest survey released by the Mortgage Bankers Association.  The number of existing homes increased again the previous month by 4% according to NAR, and shadow inventory is continuing to remain steady.

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.

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The Norris Group Real Estate News Roundup 12/4/12

Tuesday, December 4th, 2012

Today’s News Synopsis:

As part of a Christmas gift, Fannie Mae and Freddie Mac are suspending foreclosures from December 19 through January 2, 2013.  Home prices increased 6.3% in October to their highest in 6 years.  Trulia reported asking prices for homes increased 3.8% last month to their highest since the beginning of the recession.

In The News:

DS News- “REO Sales Diminish to Under 20% of Overall Home Sales: Clear Capital” (12-4-12)

“Clear Capital released a new market report Tuesday, tracking home prices through the end of November.”

Los Angeles Times- “Home prices show biggest jump in 6 years in October” (12-4-12)

“Home prices increased 6.3% in October from a year earlier, the biggest year-over-year gain since 2006, according to Irvine research firm CoreLogic.”

WTSP 10 News- “Fannie, Freddie halt foreclosures for the holidays” (12-4-12)

“Fannie Mae (FNMA) and Freddie Mac (FMCC), along with some of the nation’s biggest lenders, said Monday that they will suspend some foreclosures during the holidays.”

Bloomberg – “Banks Discover Money Management Again as Trading Declines” (12-4-12)

“Global banks, forced by regulators to reduce their dependence on profits from high-risk trading, have rediscovered the appeal of the mundane business of managing money for clients.”

Inman- “Asking prices stay strong into autumn” (12-4-12)

“Asking prices for homes on real estate portal Trulia’s website were up 3.8 percent in November from a year ago, the largest year-over-year increase since the housing recession began, according to a monthly report from Trulia.”

DS News- “FDIC-Insured Banks Improve Earnings in Q3, ‘Problem’ List Shrinks” (12-4-12)

“FDIC-insured banks continued to show improving health in the year’s third quarter, the agency reported Tuesday.”

Housing Wire- “S&P: Private-label RMBS may hit $15 billion in 2013″ (12-4-12)

“Total private-label residential mortgage backed securitized issuance is about $6 billion this year, compared with $2.8 billion from 2011, according to Standard & Poor’s ratings service.”

Hard Money Loan Closed

Perris, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $65,000 on a 3 bedroom, 2 bathroom home appraised for $110,000.

 

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.

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.

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.

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