Today’s News Synopsis:
Average home seller profits hit 10-year high last quarter. The NAHB reported the housing market for 55+ was still at its highest on record in the fourth quarter at 71, up 12 points from the previous quarter. Airbnb is starting to charge more for rents in New York fewer units are becoming available for use by the company.
In The News:
“Skyrocketing New York City rents can be blamed at least in part on the rise of the home-sharing service Airbnb, a new study has claimed.”
NAHB – “55+ Housing Market Ends Fourth Quarter on Record High” (2-1-2018)
“Builder confidence in the single-family 55+ housing market remained strong in the fourth quarter of 2017 with a reading of 71, up 12 points from the previous quarter, according to the National Association of Home Builders’ (NAHB) 55+ Housing Market Index (HMI) released today”
National Association of Realtors – “Realtors Property Resource Suspends AMP Program, Announces Multiyear Funding Cuts” (2-1-2018)
“The Realtors Property Resource®, a wholly owned subsidiary of the National Association of Realtors®, has suspended its Advanced Multi-List Platform, or AMP, project to reduce costs by several million dollars in 2018 and allow greater focus on its core initiatives.”
CNBC – “Malls hope to get back in shape by adding gyms” (2-1-2018)
“The fitness industry is booming. The mall business is not. Put a gym in a mall, and boom, you suddenly have a busier mall. Anything to get foot traffic, even if they’re sweaty feet.”
ATTOM Data Solutions – “Average Home Seller Profits at 10-Year High of $54,000 in Q4 2017” (2-1-2018)
“ATTOM Data Solutions, curator of the nation’s largest multi-sourced property database, today released its Year-End and Q4 2017 U.S. Home Sales Report, which shows that home sellers in Q4 2017 realized an average home price gain since purchase of $54,000, up from $53,732 in the previous quarter and up from $47,133 in Q4 2016 to the highest since Q3 2007 — a more than 10-year high.”
Think Realty – “Realtor.com Report: Housing Inventory Ongoing Problem” (2-1-2018)
“Late last week, Realtor.com released its “State of the Housing Union,” an annual report published shortly prior to the president’s State of the Union address.”
Inman – “11 trendy housewares from the International Builders Show” (2-1-2018)
“Building product manufacturers displayed some two dozen football fields worth of wares at the International Builders Show earlier this month in Orlando.”
Investopedia – “Buying a Home: Special Programs for First-Time Buyers” (2-1-2018)
“Saving up a down payment is the biggest hurdle to buying a home for many families, especially when home values are increasing quickly. But various programs exist that might make this task easier for you.”
Hard Money Loan Closed
Desert Hot Springs, California hard money loan closed. Real estate investor received loan for $100,000 on this single family property appraised for $270,000.
Bruce Norris will be presenting Stay Put or Cash Out with OC FIBI on Tuesday, February 6.
Bruce Norris will be presenting Stay Put or Cash Out with the Arcadia Association of Realtors on Wednesday, February 7.
Bruce Norris will be presenting Stay Put or Cash Out with TIGAR on Thursday, February 15.
Homeownership and vacancy rates across the nation totaled 1.8% and 6.9% in the fourth quarter according to the latest Census Bureau report. AppFolio just released their list of markets where renting was the most and least affordable. Redfin and Sun Number also released their list of top ten cities that had the potential for solar power that had not utilized it yet.
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.