Today’s News Synopsis:
Fannie and Freddie launch resource sites. The Mortgage Bankers Association reported mortgage applications increased 2.7% from last week. How are boomers’ plans for retirement being impacted by the coronavirus?
In The News:
Realtor.com – “How the Coronavirus Is Changing Some Boomers’ Real Estate Plans for the Better” (5-27-2020)
“For baby boomers, the question of when—and where—they’ll retire is a perennial topic of discussion.”
HousingWire – “Is the housing market already rebounding from COVID-19?” (5-27-2020)
“Cabin fever is a real thing. And you don’t have to live in a cabin to get it. With everyone chomping at the bit to get back to “normal,” I thought it would be useful to check in on the five metrics I previously identified as signals for the beginning of the economic recovery stage that I have been calling AB, or America is Back.”
Mortgage Bankers Association – “Mortgage Applications Increase in Latest MBA Weekly Survey” (5-27-2020)
“Mortgage applications increased 2.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 22, 2020″
ATTOM Data Solutions – “Coronavirus’ Impact on the Foreclosure Market” (5-27-2020)
“Due to the economic impact of the Coronavirus, analysts predict a prospective rise in the number of foreclosures over the next several months.”
Forbes – “Real Estate Investing Principles For Navigating A Crisis” (5-27-2020)
“While the national real estate market faces significant uncertainty right now, it’s important to recognize that past crises, like the Great Recession of 2008, have taught us valuable lessons on how to operate when the future isn’t so clear.”
Wall Street Journal – “High-End Apartment Owners Dodge Economic Slump” (5-27-2020)
“Rents still could be forced lower, though, as downturn from coronavirus squeezes more tenants.”
Realtor Magazine – “Fannie, Freddie Launch Resources on COVID-19 Relief Options” (5-27-2020)
“For those financially impacted by the COVID-19 pandemic, knowing where to look for updates on information about aid programs has proven challenging. But several government agencies have stepped in with resource tools to help homeowners and renters.”
Mercury News – “California mortgage applications soar 77% off coronavirus bottom“ (5-27-2020)
“California house hunters looking to finance a purchase have returned to almost their old buying pace, according to one industry metric.”
Hard Money Loan Closed
Hesperia, California hard money loan closed. Real estate investor received loan for $161,000 on this single family property appraised for $240,000.
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With NorcalREIA on Wednesday, June 10.
Bruce and Aaron Norris will be presenting Keep-Sell-Create in Sacramento on Saturday, June 20.
The Norris Group presents its award-winning black-tie event I Survived Real Estate 2020 on Friday, September 18.
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