Today’s News Synopsis:
First home purchase entirely by Bitcoin occurred this week in Texas. The National Association of Realtors reported a 1.7% decrease in existing-home sales last month. Mortgage applications decreased 9.7% in the wake of the hurricanes and increased rates.
In The News:
National Association of Realtors – “Existing-Home Sales Subside 1.7 Percent in August” (9-20-2017)
“Existing-home sales stumbled in August for the fourth time in five months as strained supply levels continue to subdue overall activity, according to the National Association of Realtors.”
Black Knight Financial Services – “Black Knight Combines Automated Title Search and Order Management Functionality of
TitlePoint and TitlePoint Xpress Into One Application” (9-20-2017)
“Black Knight Financial Services, Inc. (NYSE: BKFS) announced the launch of TitlePoint version 5.0, which merges the technology underlying TitlePoint and TitlePoint Xpress, Black Knight’s leading-edge title search and order management applications.”
DS News – “FHA Loans Could Lead to Portfolio Growth for Servicers” (9-20-2017)
“Altisource recently released its inaugural Default Servicing Survey, which pooled over 200 servicing professionals from June 22 to June 29 in order to gather its data.”
CNBC – “Hurricanes and higher rates tank mortgage applications, down 9.7%” (9-20-2017)
“It was a menacing mix for mortgages last week. Back-to-back major hurricanes, a holiday weekend and higher interest rates combined to bring a 9.7 percent drop in total mortgage application volume last week from the previous week.”
PR Newswire – “First Bitcoin Real Estate Purchase Recorded in Texas” (9-20-2017)
“Kuper Sotheby’s International Realty is now the first brokerage in the State of Texas to close on a home purchased entirely with the popular cryptocurrency, Bitcoin.”
Bigger Pockets – “10 Not-So-Obvious Ways to Thoroughly Streen Potential Tenants” (9-20-2017)
“As a property manager and landlord, I have learned that screening can be the most important element in owning a rental property. Picking the right tenant on paper and in character sets the tone for the next 12-24 months for your investment.”
Inman – “Mic drop: MLSs heed broker wishes, announce merger deal” (9-20-2017)
“Lauren Hansen AUSTIN — Lauren Hansen concluded this year’s Council of Multiple Listing Services (CMLS) conference by urging her fellow MLS execs to “be the change” they want to see in the real estate industry.”
National Mortgage News – “OPINION: Consumers, not technology, will drive digital mortgage disruption” (9-20-2017)
“It’s 2017 and most recent home buyers still rank a day at the DMV above their last home closing experience.”
The Norris Group presents its tenth annual award-winning black tie-event I Survived Real Estate 2017 on Friday, September 22.
Bruce Norris presents his latest talk 10 Life-Changing Days of a Real Estate Investor with SF Bay Summit on Saturday, October 7.
Aaron Norris will be presenting Technology Trends and Real Estate with the California Escrow Association up in San Jose on Friday, October 13.
HUD and the Commerce Department reported a 5.8% decrease in housing starts the previous month. The NAR held a survey showing more and more real estate firms and brokerages were positive about future profit. Stocks increased as people continued to wait to see what decision the Fed wwould make regarding interest rates.
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.