Norris Bruce
Jun 10, 2019

And The Winning Number Is…..

Today’s News Synopsis:

If you’re the Mega Millions Jackpot winner, where are the places you would be able to buy every home available?  Where are the top ten markets where people are flipping their homes?  Commercial and multifamily mortgage delinquencies remained low in the first quarter.

In The News:

ATTOM Data Solutions “Top 10 Markets Where Home Flippers Are Flipping” (6-10-2019)

“ATTOM Data Solutions just released its Q1 2019 Home Flipping report and found that 7.2 percent of all home sales during the first quarter, reached a new high flipping rate, the highest since Q1 2010.”

Redfin – “This Week’s $530M Mega Millions Jackpot Winner Could Purchase Every Single Home For Sale in These Cities” (6-10-2019)

“The winner of this week’s $530 million Mega Millions jackpot, the seventh largest in the game’s history, would take home about $261.4 million after taxes if they choose the lump sum.”

Inman “Mortgages are the most satisfying form of debt: study” (6-10-2019)

“A new study shows that people were happiest with their lives when their debt was in the form of mortgages, and least happy when it was tied to medical expenses.”

Mortgage Bankers Association “Commercial and Multifamily Mortgage Delinquencies Remain Low in First Quarter of 2019” (6-10-2019)

“Commercial and multifamily mortgage delinquencies stayed low in the first quarter of 2019, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Delinquency Report.”

Realtor.com “Hells Angels Headquarters Are Becoming Rental Apartments” (6-10-2019)

“Hell has frozen over in the East Village.  The Hells Angels’ former headquarters — a famed relic of the neighborhood’s gritty past — is becoming rental apartments.”

Zillow – “Zillow Offers Now Live for Home Sellers in Orlando” (6-10-2019)

“Starting today, home sellers in Orlando can use Zillow Offers to request a no-obligation cash offer from Zillow to buy their home. Zillow Offers is now available for homeowners in 11 markets across the U.S.”

DS News “National Flood Insurance Program Gets Extension” (6-10-2019)

“Financial Services Committee Chair Maxine Waters and Ranking Member Patrick McHenry have agreed to extend the National Flood Insurance Program (NFIP) through Sept. 30, 2024.”

Bloomberg “A Fed Rate Cut Looks More Likely.  The Question Is When and by How Much” (6-10-2019)

“Federal Reserve Chairman Jerome Powell and his colleagues face three decisions when it comes to reducing interest rates: whether to do it, when to do it, and by how much.”

 

California Real Estate Investor Events

Aaron Norris will be moderating the ADU Panel for SDCIA on Tuesday, June 11.

Bruce Norris will be speaking at the Southern California Appraisal Institute’s 22nd Annual Inland Empire Market Trends on Thursday, June 13.

Bruce and Aaron Norris will be speaking at the NSDREI 15th Anniversary Dinner Party on Tuesday, June 18.

 

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