Today’s News Synopsis:
So you’re buying a house together but you haven’t tied the knot? Home values increased 6.7% in the last year, the slowest appreciation rate since November 2016. Mortgage rates are continuing to show signs of increase with 30-year rates at 4.4% and 15-year rates at 3.85%.
In The News:
Zillow – “Home Value Growth Slowing Going into Home Shopping Season” (2-22-2018)
“Home value growth across the country is increasing at the slowest pace in 15 months, according to the January Zillow Real Estate Market Report. Over the past year, home values rose 6.7 percent to a median home value of $207,600.”
CoreLogic – “CoreLogic Releases Most Recent HPI Forecast Validation Report” (2-22-2018)
“CoreLogic (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its latest CoreLogic HPI Forecasts Validation Report that publicly compares its 12-month CoreLogic HPI Forecasts to the actual CoreLogic HPI Index.”
Freddie Mac – “Mortgage Rates Continue Upward Climb” (2-22-2018)
“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS®), showing the 30-year fixed mortgage rate increasing for the seventh-consecutive week.”
NAHB – “Apartment and Condominium Market Ends Fourth Quarter on a Positive Note” (2-22-2018)
“The Multifamily Production Index (MPI), released today by the National Association of Home Builders (NAHB), posted a gain of seven points to 53 in the fourth quarter of 2017.”
ATTOM Data Solutions – “Home Prices in Highest-Risk Zips for Environmental Hazards Increased at Faster Pace Than U.S. Average Over Past Decade” (2-22-2018)
“ATTOM Data Solutions, curator of the nation’s premier property database, today released its 2017 Environmental Hazards Housing Risk Index, which shows that median home prices in U.S. zip codes in the highest 20 percent for environmental hazard risk appreciated at a faster pace than the overall U.S housing market over the past year, past five years and past 10 years.”
Los Angeles Times – “L.A. County leaders seek a plan to boost the supply of affordable housing” (2-22-2018)
“The Los Angeles County Board of Supervisors passed a motion Tuesday asking the county to draft four ordinances that would seek to preserve and increase the number of affordable housing units in unincorporated areas.”
Houselogic – “5 Surprising (and Useful!) Ways to Save for a Down Payment” (2-22-2018)
“Buying your first home conjures up all kinds of warm and fuzzy emotions: pride, joy, contentment. But before you get to the good stuff, you’ve got to cobble together a down payment, a daunting sum if you follow the textbook advice to squirrel away 20% of a home’s cost.”
MarketWatch – “3 things unmarried couples should do when buying a home together” (2-22-2018)
“Sixteen percent of all first-time home buyers in 2017 were unmarried couples, an annual National Association of Realtors report found, the highest share the organization has recorded since 1981, says Jessica Lautz, managing director of survey research and communication for NAR.”
Hard Money Loan Closed
Desert Hot Springs, California hard money loan closed. Real estate investor received loan for $72,000 on this single family property appraised for $140,000.
Bruce Norris will be speaking at the 2018 Real Estate Market Forecast in Ontario, California on Wednesday, March 7.
Bruce Norris will be presenting Stay Put or Cash Out with NorcalREIA on Wednesday, March 14.
Bruce Norris will be presenting Cashing In On A Boom: Investing In Quadrant 4 With Bruce Norris in Sacramento on Saturday, March 17.
Existing-home sales increased 3.3% to 5.69 million the previous month, their highest in ten years. The Mortgage Bankers Association reported a 2% decrease in mortgage applications from the previous week. In the midst of a slow recovery from the recession, Toll Brothers reported positive earnings.
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 6 pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.