Today’s News Synopsis:
Best bidding-war strategies. Housing starts continued to increase in October, having gone up 3.8% to 1.31 million units. You may be spending more to rent a single-family home.
In The News:
Redfin – “All-Cash Offers Triple Homebuyer Odds of Winning a Bidding War” (11-19-2019)
“When it comes to a bidding war, prospective homebuyers who offer all cash more than triple their odds of winning.”
NAHB – “Single-Family Construction Continues to Make Steady Gains in October” (11-19-2019)
“Total housing starts increased 3.8 percent in October to a seasonally adjusted annual rate of 1.31 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department.”
Mortgage Bankers Association – “October New Home Purchase Mortgage Applications Increased 31.5 Percent” (11-19-2019)
“The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for October 2019 shows mortgage applications for new home purchases increased 31.5 percent compared from a year ago.”
CoreLogic – “CoreLogic Reports Low Rental Inventory Levels are Pushing Rent Prices Up” (11-19-2019)
“CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and among 20 metropolitan areas.”
CNBC – “Renting a single-family house just got more expensive” (11-19-2019)
“Anyone out shopping for an entry-level home knows the prices are high and the pickings are slim. Now, the same is holding true for rentals.”
Apartment Therapy – “The 10 Best Houseplants for Your Bathroom” (11-19-2019)
“You often don’t see a lot of plants in bathrooms, mostly because the environment there is a bit of a wildcard.”
Newsday – “Reps. Rice, Suozzi call for housing probe; HUD ‘looking into it'” (11-19-2019)
“Reps. Kathleen Rice and Thomas Suozzi sent a joint letter Tuesday to U.S. Housing and Urban Development Secretary Ben Carson urging his agency to “fully investigate” widespread evidence of unequal treatment of minorities by real estate agents on Long Island — as documented in a three-year Newsday investigation.”
Realtor Magazine – “REALTORS Commend HUD for Move to Limit Abuses of Assistance Animal Policies” (11-19-2019)
“National Association of REALTORS® President John Smaby thanked Department of Housing and Urban Development Secretary Ben Carson on Saturday for taking action to curb the practice of bogus online-generated documentation for service and companion animals.”
Hard Money Loan Closed
Hemet, California hard money loan closed. Real estate investor received loan for $115,000 on this single family property appraised for $175,000.
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing with Pasadena FIBI on Thursday, November 21.
Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with SDCIA on Tuesday, December 10.
Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with OCREIA on Thursday, January 9.
Bruce Norris will be presenting Turmoil: The Coming Storm of Negative Interest Rates on Saturday, February 1.
Data-driven real estate investing strategy. The NAHB reported builder confidence dropped eight points to 60 this month with the increase in housing affordability issues. In addition, the number of homes for sale that saw prices drop was at their highest in 8 years.
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