Today’s News Synopsis:
35% of U.S. homebuyers are bidding sight unseen. The Commerce Department reported 7.8% decrease in new home sales for the second month in a row. Realtor.com released their latest research on the hot spots to live for millennials, Gen-Xers, and baby boomers.
In The News:
Wall Street Journal – “U.S. New-Home Sales Drop Sharply, Again” (2-26-2018)
“Sales of new homes in the U.S. fell steeply at the beginning of 2018, continuing a deceleration in sales seen at the end of last year.”
CNBC – “Surging bond yields to pinch homeowners and retirees” (2-26-2018)
“A surge in bond yields that sent stock markets skidding from record highs this month may have ripple effects outside Wall Street, as home ownership costs rise and nest eggs shrink.”
Freddie Mac – “Freddie Mac February 2018 Insight” (2-26-2018)
“Freddie Mac (OTCQB: FMCC) released its February Insight, which looks into the effects of higher mortgage rates on home buyers, homeowners wishing to refinance, mortgage lenders, home builders and real estate agents.”
Realtor.com – “Where are America’s Millennial Meccas, Gen X Hot Spots, and Boomer Boomtowns?” (2-26-2018)
“You know the generational drill—or at least you think you do. Millennials, the conventional wisdom goes, are tech-obsessed, self-obsessed, debt-laden, and weirdly fascinated by beards and avocados. Generation X: cynical, self-reliant, often forgotten.”
CoreLogic – “CoreLogic Reports Fourth Quarter and Full-Year 2017 Financial Results” (2-26-2018)
“CoreLogic (NYSE: CLGX), a leading global provider of property information, insight, analytics and data-enabled solutions, today reported financial results for the quarter and full-year ended December 31, 2017.”
Reader’s Digest – “32 Home Upgrades That Are a Huge Waste of Money” (2-26-2018)
“One of the first resources realtors use to determine the value of your home is the neighborhood you live in and the homes in it.”
Bloomberg – “A Third of U.S. Homebuyers Are Bidding Sight Unseen” (2-26-2018)
“Thirty-five percent of homebuyers in the U.S. aren’t even visiting the property before they put in a bid, amid torrid competition in a tight market, according to the latest survey by Redfin Corp.”
Inman – “NAR weighs next steps in combating net neutrality repeal” (2-26-2018)
“On Dec. 14, 2017, the Federal Communications Commission (FCC) voted to undo protections surrounding net neutrality, or the free and open internet.”
Hard Money Loan Closed
Moreno Valley, California hard money loan closed. Real estate investor received loan for $126,000 on this single family property appraised for $212,000.
Bruce Norris will be speaking at the 2018 Real Estate Market Forecast in Ontario, California on Wednesday, March 7.
Bruce Norris will be presenting Stay Put or Cash Out with NorcalREIA on Wednesday, March 14.
Bruce Norris will be presenting Cashing In On A Boom: Investing In Quadrant 4 With Bruce Norris in Sacramento on Saturday, March 17.
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.