2020 is here. Welcome to the Year of the ADU!

Today’s News Synopsis:

Happy New Year!  Pending home sales increased 1.2% in November according to the National Association of Realtors.  Freddie Mac reported mortgage rates decreased slightly with 30-year rates now at 3.72% and 15-year rates at 3.16%.

In The News:

Forbes “2020: The Year Of The ADU” (1-2-2020)

“Accessory dwelling units (ADUs) should get a new lease on life in 2020 due to a heavy push for affordable housing perfectly timed with state regulation and advancements in construction technology.”

Freddie Mac “Mortgage Rates Decrease Slightly” (1-2-2020)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.72 percent.”

Zillow “2020’s Hottest Housing Markets Will Come Forth From the South, While California Sees a Cooldown” (1-2-2020)

“Led by Austin, housing markets in the southern half of the U.S. will perform the best in 2020, according to a panel of economists and real estate experts recently surveyed by Zillow.”

Los Angeles Magazine “Everything You Need to Know About Tenancy in Common Real Estate” (1-2-2020)

“The price of buying a house in Los Angeles reached record highs this year, putting the dream of homeownership out of reach for an increasing number of Angelenos.”

National Association of Realtors “Pending Home Sales Expand 1.2% in November” (1-2-2020)

“Pending home sales increased in November, rebounding from the prior month’s decline, according to the National Association of Realtors.”

CNBC “Competition for housing is so high, the spring market is starting now” (1-2-2020)

“The severe shortage of homes for sale is upending the sales calendar for the whole housing market.  Spring has historically been the busiest buying season, but as competition for homes heats up across the country, January is the new April. Spring starts now.”

Forbes “How AI Is Really Going To Change Real Estate In 2020 And Beyond” (1-2-2020)

“By 2030, AI is predicted to add +$15 trillion to the global GDP thanks largely to solving data issues according to PwC.”

ATTOM Data Solutions “Property Rental Sites Targeting Millennials” (1-2-2020)

“According to the U.S. Census Bureau, only 1 in 3 millennials own their own home. Stagnant wages, coupled with rising house prices, mean that many millennials are struggling to purchase their own property.”

 

California Real Estate Investor Events

Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with Prosperity Through Real Estate on Tuesday, January 7.

Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with Robert Hall & Associates on Wednesday, January 8.

Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with OCREIA on Thursday, January 9.

Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with CVREIA on Thursday, January 14.

Bruce Norris will be presenting Turmoil: The Coming Storm of Negative Interest Rates on Saturday, February 1.

 

Looking Back:

2019 Housing outlook for real estate investors.  Aaron Norris was featured this week with his insight into four factors that will be a huge influence on the future of housing.  CoreLogic reported home prices increased 5.1% year-over-year.

 

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