Think Realty Magazine

Bruce and Aaron Norris as the feature story and cover photo for the magazine’s issue on legacy building, philanthropy, and investing.

Home sellers fret as mortgage rates rise

Inland cities scramble to be ready when HUD announces housing funds allocations and guidelines

\”Buying a fixer-upper doesn\’t establish market value,\” he said. \”When you fix a house up and sell it at full price, that establishes value, and it will be a lot higher. … I don\’t see any downside at all.\”

U.S. Foreclosures Top Quarter-Million for 10th Straight Month

“This is tough to fix, because so many people are underwater,” Bruce Norris, president of the Norris Group, a Riverside, California-based investment firm specializing in foreclosed properties, said in an interview. “Until debt goes down or prices go up, this is going to be a mess.”

Investors beware

The current shortage of foreclosed properties for sale that is pushing up prices is an artificial phenomenon, said Bruce Norris, principal of the Riverside-based Norris Group, which provides loans and advice to real estate investors. Don\’t buy homes on the assumption that prices will continue to rise and you can

Loan losses from home foreclosures could more than double

Norris sald lenders and the federal government have been slowing the foreclosure process to prevent a further deterioration of housing prices. As a result, he noted, delinquent borrowers are being allowed to stay in their homes for months, sometimes years, longer than normal without making mortgage payments. \”People are being

An Interview with Bruce Norris, CEO of The Norris Group: Hard Choices About Hard Money Loans

“We tell people to get out of deals every month,” says Bruce Norris, CEO of the California-based Norris Group, which brokers hard-money investment loans as well as valuable information to investors.

An Alternative to Leaving a Foreclosed Home

\”When you have a foreclosure record, your credit starts improving the next day,\” Norris said. And Norris said that\’s the key to recovery. In two years, people with foreclosures can become buyers again.

Can beleaguered California make a comeback?

“Now, mortgage payments are cheaper than rent. It speaks to the fear of owning real estate and the difficulty of qualifying for finance,” Norris adds. “Without the participation of the first-time homebuyer, it’s hard to have the volume necessary to create any type of price support.”