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By Bruce Norris .

The Norris Group Real Estate News Roundup 5/17/13

Friday, May 17th, 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.  Redfin reported a strong housing market for the month of April with increases in inventory, home sales and prices.  The National Association of Realtors is in danger of experiencing losses in the next three years.

In The News:

Housing Wire - “Bid list indicates first signs of GSE risk reduction” (5-17-13)

“The Federal Housing Finance Agency plans to sell 5% of the illiquid portion of its retained portfolio assets by the end of the year, meaning the collateral Freddie Mac and Fannie Mae had before the conservatorship.”

DS News – “CoreLogic Case-Shiller Forecasts Waning Price Appreciation” (5-17-13)

“With housing prices on the rise across the nation, and double-digit increases in some markets, CoreLogic quashes any fears of another housing bubble forming any time soon.”

Bloomberg – “Wells Fargo Cites New Facts in Bid to Disband Plaintiffs” (5-17-13)

“Wells Fargo & Co. (WFC), citing “new facts,” asked a judge to revoke the class-action status he bestowed on a suit by institutional investors who claimed the bank marketed a risky securities-lending program as safe.”

Inman - “NAR could be in the red for the next 3 years” (5-17-13)

“A budget proposal for the National Association of Realtors projects the trade group will run at a loss for the next three years.”

Realty Times - “Mortgage Rates Move Higher for Second Consecutive Week” (5-17-13)

“In Freddie Mac’s results of its Primary Mortgage Market Survey® (PMMS®), fixed-rate mortgage rates followed U.S. Treasury bond yields higher this week on signs of stronger consumer spending.”

DS News - “Redfin Reports Gains in Inventory, Sales, and Prices for April” (5-17-13)

“The housing market came out of April in a particularly strong position, according to Redfin’s latest Real-Time Price Tracker, with prices, sales, and inventory posting gains across the country.”

Housing Wire - “FHFA director nomination may be pushed to back burner” (5-17-13)

“The IRS scandal brewing in Washington D.C. may prompt Senate Republicans to put Rep. Mel Watt’s nomination to lead the FHFA on the back burner for now, analysts with Compass Point Research & Trading said this week.”

Realty Times - “Here We Go: Building Booming and Home Prices Rising” (5-17-13)

“In the first quarter of 2013 our economy grew by 2.5 percent. While some were disappointed with that figure because it fell short of the consensus estimate of 3.0 percent, it’s still a sign of better times, according to Corelogic.com.”

Hard Money Loan Closed

Riverside, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $133,000 on a 3 bedroom, 2 bathroom home appraised for $194,000.

 

Bruce Norris of The Norris Group presented Poised to Pop: Quadrant Four Has Arrived with Chino Valley TODAY.

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.

Looking Back:

Jobless claims remained at 370,000 despite economists predicting they would decrease to 365,000 the previous week.  The number of people who could afford to buy a home was at its highest on record at 77.5%.  At the same time, foreclosures were at their lowest in five 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 5/6/13

Monday, May 6th, 2013


Today’s News Synopsis:

According to the NAHB, the number of improving markets decreased this month to 258 compared to 273 in May.  Prices for commercial properties increased in April to their highest level, exceeding a peak reached back in 2007.  New York Attorney General Eric Schneiderman attends to sue both Bank of America and Wells Fargo for violation of the National Mortgage Settlement.

In The News:

Bloomberg - “Diminished Housing Wealth Effect Keeps Pressure on Fed” (5-5-13)

“The wealth effect from rising house prices may not be as effective as it once was in spurring the U.S. economy.  Rather than using their properties as ATM machines to boost spending, homeowners increasingly are paying down the principal and shortening the maturities of their mortgages in a move Florida banker Rob Nunziata calls ‘forced savings’.”

Realty Times – “Homeowners’, Renters’ Regrets Reveal Many Aren’t Prepared For New Home” (5-5-13)

“Three out of four Americans say it’s a good time to buy and more than two in five American renters say they are sorry they didn’t do so.”

NAHB – “Improving Markets List Includes 258 Metros in May” (5-5-13)

“The number of U.S. housing markets showing sustained improvement in three key measures fell slightly to 258 in May from 273 in April, according to the NAHB/First American Improving Markets Index (IMI), released today.”

Housing Wire - “New York AG to sue Wells Fargo and Bank of America” (5-5-13)

“New York Attorney General Eric Schneiderman announced Monday his intentions to sue Bank of America and Wells Fargo for allegedly violating terms of the National Mortgage Settlement.”

DS News - “FHFA Directs GSEs to Limit Purchases to QM Loans” (5-5-13)

“The Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to limit future loan purchases to those that meet the Consumer Financial Protection Bureau’s (CFPB) criteria for “qualified mortgage”

loans.”

Bloomberg - “U.S. Commercial-Property Prices Rise Above Their ’07 Peak” (5-5-13)

“Prices for U.S. commercial property last month rose above a peak reached in 2007 as low interest rates and financing availability helped increase values, according to research firm Green Street Advisors Inc.”

Housing Wire - “LPS: Homeowner Bill of Rights slows California foreclosure sales” (5-5-13)

“The California Homeowner Bill of Rights is slowing the movement of distressed properties in the West Coast state, Lender Processing Services said in a report.”

DS News - “LPS: Rate of New Problem Loans Approaching Pre-Crisis Levels” (5-5-13)

“The rate of new loans that rolled into serious delinquency fell below 1 percent for the first time since 2007, Lender Processing Services (LPS) reported Monday.”

Hard Money Loan Closed

Fallbrook, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $145,000 on a 3 bedroom, 1 bathroom home appraised for $225,000.

 

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.

 

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 4/15/13

Monday, April 15th, 2013


Today’s News Synopsis:

Homebuilder confidence decreased by two points to 42 this month according to the NAHB/Wells Fargo Housing Market Index.  Home prices increased last month with the drastic increase in home sales and decrease in home listings.   U.S. homebuyers are receiving some unexpected help from the Bank of Japan.

In The News:

NAHB - “Rising Costs Put Squeeze on Builder Confidence in April” (4-15-13)

“Facing increasing costs for building materials and rising concerns about the supply of developed lots and labor, builders registered less confidence in the market for newly built, single-family homes in April, with a two-point drop to 42 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today.”

Inman – “Canadian home sales edge up in March” (4-15-13)

“Home sales in Canada rose modestly from February to March, but remained far below levels seen a year ago before regulators tightened lending rules.”

Housing Wire – “Short sales drive RMBS losses lower: Fitch” (4-15-13)

“An uptick in the use of short sales is slowing the decline of loss severities for residential mortgage-backed securities, according to Fitch Ratings.”

DS News - “Home Sales See Seasonal Surge, Listings Fall” (4-15-13)

“The seasonal surge in home sales combined with another drop in listings to further drive up prices in March, Redfin observed in its latest Real-Time Price Tracker.”

Realty Times - “April Is Fair Housing Month, For Good Reason” (4-15-13)

“On April 11, 1968, President Lyndon Johnson signed the Civil Rights Act of 1968, an expansion of the Civil Rights Act of 1964.”

Bloomberg- “Neediest Homebuyers in U.S. Lifted by Japan: Mortgages” (4-15-13)

“U.S. homebuyers are getting an unexpected boost from the Bank of Japan.”

DS News - “Report: Commercial Real Estate Prices Increase in February” (4-15-13)

“Commercial real estate (CRE) prices ticked up slightly in February, according to the Commercial Property Price Indices (CPPI) released by Moody’s Analytics and RCA.”

Hard Money Loan Closed

Cathedral City, 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 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.

 

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 4/12/13

Friday, April 12th, 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.  The number of foreclosures increased 73% from January.  Both Wells Fargo and JPMorgan reported first quarter profits were some of the best on record.

In The News:

Housing Wire - “Sen. Boxer: Servicing standards fall short of settlement” (4-12-13)

“U.S. Sen. Barbara Boxer, D-Calif., sent a letter to federal officials urging them to investigate allegations that banks are not fully complying with servicing standards laid out in the National Mortgage Settlement.”

Bloomberg - “Economy Bears Turn Bulls Seeing 3% U.S. GDP Few Saw in 2012″ (4-12-13)

“Bearish forecasts for the U.S. economy are giving way to more upbeat views of the nation’s ability to weather federal spending cuts and tax increases.”

DS News – “Wells Fargo, JPMorgan Report Record Profits in Q1″ (4-12-13)

“Wells Fargo and JPMorgan Chase both pulled in record quarterly profits during the first months of 2013, according to earnings reports released Friday by both banks.”

Inman – “Mortgage rules may put chill on Canada’s spring buying season” (4-12-13)

“Home sales in the metro Montreal market fell 18 percent during the first quarter compared to a year ago, the latest evidence that new mortgage rules introduced by Canadian regulators last summer have cooled markets there.”

DS News - “California Foreclosure Starts Up 73% from January” (4-12-13)

“Foreclosure starts in California showed a huge increase since the beginning of this year, but the long-term trend still points to an overall decrease, ForeclosureRadar reported.”

Housing Wire - “Colorado bill to end dual-tracking dies in committee” (4-12-13)

“Proposed legislation designed to end the practice of dual tracking in Colorado died in committee this week.”

Inman - “Redfin: Feels like a bubble, but it’s not” (4-12-13)

“An informal Inman News survey of agents around the country shows many real estate professionals are experiencing market conditions that, at least on a surface level, resemble those of the housing bubble.”

DS News - “Foreclosure Timelines Are Lengthening” (4-12-13)

“Foreclosure timelines are lengthening, according to recent reports from Moody’s Investors Service and RealtyTrac.  In addition to this trend, Moody’s highlighted the importance of net present value (NPV) models in the loss mitigation process for residential mortgage-backed securities.”

Hard Money Loan Closed

Yucca Valley, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $220,000 on a 4 bedroom, 3 bathroom home appraised for $370,000.

 

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:

This week saw many changes in the real estate economy.  The number of foreclosures filed was at its lowest in over four years since 2007.  Unfortunately, the number of claims of unemployment increased 13,000 the previous week to a level not experienced since January.  Mortgage rates decreased again 3.88% for 30-year loans and 3.11% for 15-year loans, the lowest on record.

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 2/22/13

Friday, February 22nd, 2013



Sources:
Builder Confidence Virtually Unchanged in February
Freddie Mac: Rental Sector Shows Growth, but Lacks Affordability
HARP hits 2 million refinances
Housing Starts Down on Typical Multifamily Volatility; Permits Hit Four-Year High
U.S. 30-Year Mortgage Rates Rise to Highest Since August
Existing-Home Sales Inch Up; Inventory at Lowest Level Since 1999
January Existing-Home Sales Hold with Steady Price Gains, Seller’s Market Developing
Zillow: 1.9M Homeowners Released from Negative Equity in 2012
Limited Mortgage Finance Role for U.S. Government Gains Support

Today’s News Synopsis:

Aaron Norris gives the news of the week in the world of real estate in this week’s video.  Zillow reported home values increased in January for the 15th month in a row to $158,100, the biggest yearly increase in seven years.  Fannie Mae predicted economic growth will continue to remain slow despite the increase in taxes and spending cuts.

In The News:

Bloomberg - “Fattened Margins Seen Shrinking 40% at Banks: Mortgages” (2-22-13)

“Record mortgage profits that drove earnings at Wells Fargo & Co. (WFC) and JPMorgan Chase & Co. (JPM) are fading as increased competition keeps the rates banks are offering on new loans near all-time lows.”

DS News – “Fitch Finds Weaknesses in Recent RMBS Transactions” (2-22-13)

“While most representation and warranty guidelines for recent residential mortgage-backed securities (RMBS) have been “substantially stronger than observed in pre-crisis transactions,” according to Fitch, the ratings agency has begun to encounter some proposals that fall short of the industry’s recently-enhanced standards.”

Realty Times - “Average 30-Year Fixed-Rate Mortgage Up a Smidgen” (2-22-13)

“In Freddie Mac’s results of its Primary Mortgage Market Survey®, the average fixed mortgage rates have changed little over the past four weeks which is helping to spur new home construction.”

Housing Wire- “Refis of underwater loans shrink Ohio’s distressed inventory” (2-22-13)

“While loan modifications continue to ease distress for a small fraction of delinquent loans in Ohio, the refinancing of current underwater loans is also decreasing the state’s inventory of troubled mortgages.”

DS News - “Home Values Post Biggest Annual Increase Since 2006; Rent Gains Slow” (2-22-13)

“Home values in January posted their biggest annual increase since July 2006, beating national gains in rent, according to a recent report from Zillow.”

Housing Wire – “California captures 40% of aid from the national mortgage settlement” (2-22-13)

“The state of California received a disproportionate share of relief dollars from the 49-state national mortgage settlement, according to data released this week.”

DS News- “Fannie Mae Projects Slow Economic Growth Amid Fiscal Policy Concerns” (2-22-13)

“Even with tax hikes and spending cuts creating a significant headwind to the economy, Fannie Mae’s Economic & Strategic Research Group is maintaining its outlook for slow and steady growth in 2013.”

Housing Wire – “MBA economist sees home price recovery, but hurdles remain” (2-22-13)

“The Mortgage Bankers Association’s chief economist rejects the idea that today’s home price recovery and improvements in housing are the result of artificial market lifts such as legislation and federal intervention.”

Hard Money Loan Closed

Lancaster, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $74,000 on a 4 bedroom, 2 bathroom home appraised for $116,000.

 

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.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at FIBI Long Beach on Thursday, February 28, 2013.

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

Looking Back:

Sales of existing homes increased in January of last year for the third month in a row.  Construction jobs also increased with people’s positive outlook on the housing market and increase in remodeling projects.  In the housing market as a whole, market trends were showing signs of improvement amidst a weak market.

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 2/15/13

Friday, February 15th, 2013



Sources:
Home Prices Rise in 88% of U.S. Cities as Recovery Gains
Pent-up demand fuels home sales: NAR
Mortgage delinquency rate drops nearly 14%: TransUnion
Retail sales up despite payroll tax hike
RealtyTrac: Foreclosure Starts Slow to 79-Month Low
Senators Reintroduce Refi Bill
Job growth in housing lingers near post-bubble lows
CoreLogic: QM, QRM Rules Remove 60% of Loans and 90% of the Risk
Restarting Mortgage Finance: Step 1
FHA considered ‘high-risk’ by government oversight group

Today’s News Synopsis:

Aaron Norris gives the news of the week in the world of real estate in this week’s video.  RE/MAX reported median home prices increased 8% year-over-year, although monthly they continued to show signs of decline.  Non-judicial foreclosing decreased drastically in California this month, although this could be due to a change in the legal politics rather than distressed homeowners finding a way out.

In The News:

DS News- “RE/MAX: Prices Up 8% from Year Ago; Inventory Falls Again” (2-15-13)

“Median home prices in January continued to stay above year ago levels while falling month-over-month, according to a recent report from RE/MAX. At the same time, inventory remained low, causing a shortage in supply while pushing up home prices, RE/MAX explained.”

Housing Wire – “CFPB rules give some mortgage and housing companies more options” (2-15-13)

“The nature of new regulations is typically meant to be restrictive in nature. However, the new rules will give some mortgage and housing companies more options.”

Realty Times - “Seasonal Flip-Flop Hallmarks Housing Recovery, Tough Times For First-Time Buyers” (2-15-13)

“Just as home price gains are moving up against the traditional seasonal grain, inventories are going down at a time when they typically turn up.”

Housing Wire- “REITs announce $1.7 billion in new capital offerings: BofAML” (2-15-13)

“Mortgage real estate investment trusts will announce $1.7 billion in new capital offerings in 2013, said analysts at Bank of America Merrill Lynch ($12.13 0%).”

Housing Wire - “California falling foreclosures may be a mirage in the desert” (2-15-13)

“The second month of 2013 brought news that non-judicial foreclosure filings fell significantly in California.”

Bloomberg – “Wells Fargo Turns to U.K. as European Banks Retreat” (2-15-13)

“Wells Fargo & Co., the lender that’s expanding its securities unit to challenge Wall Street competitors, is broadening U.K. commercial property lending as European banks are forced to retreat.”

DS News- “Report: Price Recovery Appears Unsustainable in Arizona, Nevada” (2-15-13)

“Certain states are seeing stronger, above average gains in home prices, but concerns have been raised that some states are seeing “unsustainable, investor-fueled” increases, Capital Economics pointed out in a recent report.”

Housing Wire – “Housing recovery momentum continues to build” (2-15-13)

“Momentum continued to grow in a snowball effect manner, with prices rising to a two-year high in December, according to the latest FNC report.”

Hard Money Loan Closed

Moreno Valley, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $156,000 on a 4 bedroom, 2 bathroom home appraised for $226,000.

 

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.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at FIBI Long Beach on Thursday, February 28, 2013.

Looking Back:

In a big news story, for the fifth month in a row there was an increase in builder confidence for single-family homes.  In other news, according to the Mortgage Bankers Association applications for mortgages decreased 1% from the previous week.  For anyone wanting to submit a foreclosure review, they the deadline was extended to July 31 from the original date of April 30.

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 1/11/13

Friday, January 11th, 2013



Sources:
List of Improving Housing Markets Expands to 242 in January
About 43% of Americans expect home prices to rise
Mortgage Daily: Mortgage Business Closings Finish 2012 at 82
Fannie, Freddie short sales hit record high
2012 a banner year for housing affordability, industry group says
BofA Earmarks $11.7 Billion to Cap Fannie Mae’s Claims
Ten banks to pay $8.5 billion to settle foreclosure abuse review
IRS will accept tax returns starting Jan. 30
CFPB Releases Long-Awaited Qualified Mortgage Rule

Today’s News Synopsis:

Aaron Norris gives the news of the week in the world of real estate in this week’s video.  The delinquency rate for commercial mortgage-backed securities decreased below 8% for the seventh month in a row.  Wells Fargo saw a 24% increase in their profits with the increase in lending.

In The News:

DS News – “CMBS Delinquency Rate Falls for 7 Straight Months: Fitch” (1-11-13)

“The delinquency rate for commercial mortgage-backed securities (CMBS) managed to slip below 8 percent before the close of 2012, while the multifamily sector led with the biggest decline for the year, Fitch Ratings reported Friday.”

Housing Wire- “Mortgage bonds bring record profits to Federal Reserve” (1-11-13)

“The Federal Reserve paid the federal government a record $88.9 billion in 2012, compared to $75.4 billion last year, reaping gains from Treasury bonds and mortgage-backed securities purchased to spur economic growth and drive interest rates lower.”

Realty Times- “30-Year Fixed-Rate Mortgage Averages 3.40 Percent” (1-11-13)

“In Freddie Mac’s results of its Primary Mortgage Market Survey®, fixed mortgage rates moved higher following December’s employment report.”

Housing Wire- “Housing recovery lifts insurers commercial mortgage investments” (1-11-13)

“The performance of insurance companies’ commercial mortgage investments posted gains as losses declined and risk levels mitigated on improving real estate fundamentals.”

Bloomberg- “Wells Fargo Profit Rises as Bank Boosts Lending” (1-11-13)

“Wells Fargo & Co. (WFC), the largest U.S. home lender, reported a 24 percent rise in fourth-quarter earnings as the bank extended more credit. The shares slipped as margins narrowed and mortgage applications waned.”

Inman – “Zillow and Century 21 renew marketing agreement” (1-11-13)

“Century 21 Real Estate will continue providing listings to Zillow.com in return for perks intended to help the franchisor’s agents generate more business, the companies said in announcing the renewal of a 2010 marketing agreement.”

Housing Wire- “Qualified mortgage begins to take shape” (1-11-13)

“The Consumer Financial Protection Bureau’s definition of a qualified mortgage is beginning to give the lending industry some idea of what loans will be considered safe in the new lending environment.”

DS News – “Keystone Asset Management Partners with RealtyPilot” (1-11-13)

“Keystone Asset Management Inc. announced a partnership with RealtyPilot, LLC.”

Hard Money Loan Closed

Menifee, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $118,000 on a 3 bedroom, 2.5 bathroom home appraised for $185,000.

 

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, 2013

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at the Buena Park Apartment Owners Association on Wednesday, January 23, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at the Apartment Owners Association at the Scottish Rite Center on Thursday, January 24, 2013.

Looking Back:

In an updated news story, Michael J. Willimas, the Chief Executive for Fannie Mae, resigned and was required to step down as soon as a successor was found.  The latest report from the Lender Processing Services showed a decrease in home values of only 8%, and an overall slowdown in decreasing values.  The latest survey from the Mortgage Bankers Association showed an increase in mortgage applications.

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 12/14/12

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.

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

Tuesday, December 11th, 2012

Today’s News Synopsis:

The amount of mortgage debt outstanding for commercial and multifamily properties increased 0.3% for the fourth quarter in a row to $6.6 billion.  Real estate investing in Hawaii and tourism in Hawaii has increased and rebounded after they received a $1.85 billion from Goldman Sachs.  A lawyer is attempting to reopen a case against Wells Fargo claiming they failed to keep their promise from two years ago that they would reduce loan balances for delinquent borrowers.

In The News:

Housing Wire- “Home price appreciation driven by investors: DBRS” (12-11-12)

“Home prices are expected to continue to rise in 2013, especially with investors on the hunt for good buys, but the New Year is expected to bring at least a few drops in home values along the way, according to real estate analysts.”

Bloomberg- “Hawaii Real Estate Paradise Returns With Goldman Loan” (12-11-12)

“Hawaii, buffeted in the aftermath of the U.S. recession and Japan’s tsunami, is benefiting from a travel rebound that’s sent tourism revenue to a record and spurred real estate investments across the islands.”

Mortgage Bankers Association- “Commercial and Multifamily Mortgage Debt Outstanding Increases for Fourth Straight Quarter” (12-11-12)

“The level of commercial/multifamily mortgage debt outstanding increased by $6.6 billion, or 0.3 percent, in the third quarter of 2012, as three of the four major investor groups increased their holdings, according to the Mortgage Bankers Association (MBA).”

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.”

DS News- “NFMC Clients Twice as Likely to Receive a Mod, Program Serves 1.5M “ (12-11-12)

“After four and a half years, the National Foreclosure Mitigation Counseling (NFMC) program has assisted about 1.5 million at-risk homeowners, according to a NeighborWorks America report.”

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- “Veterans United Home Loans Ranked No. 1 Job Creator in Missouri “ (12-11-12)

“All across the country, branches of the Maryland-headquartered Veterans United Home Loans are celebrating the company’s recognition in Inc. magazine’s inaugural Hire Power Awards for private job creators.”

Inman- “HUD stepping up sales of seriously delinquent FHA loans” (12-11-12)

“The U.S. Department of Housing and Urban Development has begun selling off thousands of seriously delinquent mortgages insured by the Federal Housing Administration, a move that could save many distressed borrowers from losing their homes.”

Hard Money Loan Closed

Los Angeles, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $215,000 on a 2 bedroom, 1 bathroom home appraised for $444,000.

 

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 today.

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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The Norris Group Real Estate News Roundup 12/07/12

Friday, December 7th, 2012



Sources:
Foreclosures down in October as housing market continues healing
Real Estate Outlook: Existing-Home Sales Increase
Construction Spending in U.S. Increases More Than Forecast
Home prices show biggest jump in 6 years in October
Mortgage Applications Increase in Latest MBA Weekly Survey
RealtyTrac: Short Sales, Pre-Foreclosure Sales Increase in Q3
Freddie Mac says typical 30-year mortgage rate up a hair at 3.34%
Freddie Mac’s Serious Delinquency Rate Slips to Three-Year Low
Fannie, Freddie halt foreclosures for the holidays
NJCC Selected to Buy 399 Distressed Loans Through HUD Program
FDIC-Insured Banks Improve Earnings in Q3, ‘Problem’ List Shrinks
“Unemployment Rate Drops to 4-Year Low, 146K Jobs Added”

Today’s News Synopsis:

This week’s video is a slideshow of the real estate news of the week.  The unemployment rate decreased to 7.7% with the addition of 146,000 new jobs and is now at its lowest since December 2008.  NAHB reported the list of improving markets increased by 76 and is now at 201.

In The News:

DS News- “Unemployment Rate Drops to 4-Year Low, 146K Jobs Added” (12-7-12)

“Superstorm Sandy blew a hole in not in the nation’s labor market but economists’ crystal balls as the economy added 146,000 jobs and the unemployment rate fell to 7.7 percent, the lowest level since December 2008, the Bureau of Labor Statistics reported Friday.”

Realty Times- “Mortgage Rates Calm, Near Record Lows” (12-7-12)

“In Freddie Mac’s results of its Primary Mortgage Market Survey®, fixed mortgage rates showed little change and remained near their record lows helping to keep homebuyer affordability high and attractive to those looking to refinance.”

Housing Wire- “HARP refinancing narrows among big lenders” (12-7-12)

“The available pool of eligible mortgages that qualify for the Home Affordable Refinance Program refinancing continued to narrow among the big lenders — Bank of America ($10.57 0.11%), JPMorgan Chase ($42.19 0.72%), Citigroup ($37.51 0.49%) and Wells Fargo ($33.08 -0.065%) — according to the Royal Bank of Scotland’s December prepayment report.”

DS News- “NAHB: List of Improving Markets Hits 201, Up by 76″ (12-7-12)

“The number of new improving markets observed by the National Association of Home Builders (NAHB) skyrocketed in December, according to a release from the group.”

Inman- “Housing recovery hinges on mortgage supply” (12-7-12)

“Markets are very quiet despite the usual first-week-of-month flood of new data.  In the last week the 10-year T-note has not traded above 1.63 percent nor below 1.58 percent, and mortgages are holding just below 3.5 percent depending on borrower and property.”

DS News – “CMBS Delinquency Rate Down to Two-Year Low: Fitch” (12-7-12)

“A “surge” in new issuances brought down the CMBS delinquency rate in November to a two-year low, according to the latest CMBS delinquency report from Fitch Ratings.”

Housing Wire- “Obama scorecard reveals more housing improvement” (12-7-12)

“More than 1.3 million homeowner assistance actions have taken place through the Making Home Affordable Program.”

Hard Money Loan Closed

Redlands, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $190,000 on a 3 bedroom, 2 bathroom home appraised for $322,000.

 

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.

Looking Back:

According to the latest survey released by the Mortgage Bankers Association, mortgage applications increased 12.8% from the previous week.  In the whole world, home prices did not show any signs of change in the third quarter.  TransUnion forecasted mortgage delinquencies would decrease almost 7% by this 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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