Norris Bruce
Apr 11, 2019

California Is Nowhere Near Where You Think It Is

Today’s News Synopsis:

What is the best and worst state for U.S. taxpayers?  Mortgage rates increased slightly with 30-year rates now at 4.12% and 15-year rates at 3.6%.  Foreclosure activity decreased 15% in the first quarter of 2019 to it’s lowest level in over a decade.

In The News:

MarketWatch – “Rent is accelerating again.  What can be done?” (4-11-2019)

“Rental price growth, which took a brief breather this winter, is surging higher again, adding fresh urgency to policymakers’ considerations of how to address a worsening affordability crisis.”

Freddie Mac – “Mortgage Rates Inch Up” (4-11-2019)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that mortgage rates rose modestly this week with the 30-year fixed-rate averaging 4.12 percent.”

ATTOM Data Solutions “U.S. Foreclosure Activity Decreases 15 Percent in Q1 2019 to Lowest Levels Since Q1 2008” (4-11-2019)

“ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released its Q1 2019 U.S. Foreclosure Market Report, which shows a total of 161,875 U.S. properties with a foreclosure filing during the first quarter of 2019, down 23 percent from the previous quarter and down 15 percent from a year ago to the lowest level since Q1 2008.”

Realtor.com “The Most Fabulous Homes for Dogs, Cats, Birds, Bunnies, and Beyond” (4-11-2019)

“Today is National Pet Day! In light of that, we thought we’d give you a gander into the wonderful world of extreme critter cribs.”

Curbed “Buy your own off-the-grid island for $1.4M” (4-11-2019)

“Interested in buying your own island just in time for summer? Check out the five-acre Ram Island, a rustic island not far from the mainland of Maine’s Wheeler Bay and the St. George Peninsula.”

Southern Living “Survey Finds This Outdoor Feature Is the Most Important Thing for Home Buyers” (4-11-2019)

“When you’re on the hunt for a new home, what do you covet? Giant closets? A chef’s kitchen? Wood flooring? Or is it something else?”

Yahoo Finance “The best and worst U.S. states for taxpayers” (4-11-2019)

“As the tax deadline nears, residents of some states are bearing the brunt of it more than others.  Alaska, Delaware, Montana, Wyoming, and Nevada are the best five states in the U.S. when it comes to taxes, according to an analysis by WalletHub, while Illinois, Connecticut, Pennsylvania, New York, and Nebraska are the worst.”

GeekWire “Amazon’s original birthplace sells for $1.5M, but fate of legendary mailbox remains unclear” (4-11-2019)

“Amazon’s first home has a new owner.  The house at 10704 N.E. 28th St. in Bellevue, Wash., formerly rented by Jeff Bezos as he was just getting the company off the ground, sold recently for $1.52 million, above the list price of $1.49 million.”

 

California Real Estate Investor Events

Bruce Norris will be presenting 10 Decisions To Make Before The Next Downturn at the AOA Million Dollar Trade Show on Wednesday, April 17.

Aaron Norris will be presenting Innovating Real Estate Marketing with the Moreno Valley Professionals on Thursday, April 18.

Bruce Norris will be presenting 10 Decisions To Make Before The Next Downturn with Pasadena FIBI on Thursday, April 18.

 

Looking Back:

Social media posts spurring Millennials to become homeowners?  The types of homes taking longer to sell were the luxury homes.  What was some “good” advice you heard on buying a home that you should completely ignore?

 

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