Today’s News Synopsis:
Buying a foreclosed home? 2018 ended with new home sales decreasing drastically by 18-19% compared to December 2017. Could we see an end to interest rate hikes this year?
In The News:
“The hottest housing market this year will be San Jose, California, according to Zillow, the second year in a row that Silicon Valley earns that distinction even as the winds are gradually shifting in the nation’s priciest housing market.”
CoreLogic – “CoreLogic Reports National Rent Growth Remains Steady As Home Price Growth Slows” (1-15-2019)
“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.”
Freddie Mac – “Freddie Mac’s Home Possible Reaches New Level of Support” (1-15-2019)
“In Three Years, the Mortgage Offering Helped More Than 262,000 Low- to Moderate-Income Earners Achieve the American Dream.”
Curbed – “In coworking era, pricey urban real estate does double duty” (1-15-2019)
“Restaurants-turned-offices, pop-up retail, and shared kitchens underscore demand for flexible space.”
HousingWire – “Time to say goodbye to rate hike possibilities in 2019?” (1-15-2019)
“As 2019 begins, many experts and even Federal Reserve members predict that the Fed is done raising interest rates, at least for 2019.”
Motherboard – “New York City Sued Airbnb Operators For Allegedly Posing As Fake Hosts” (1-15-2019)
“Most major cities in the US and beyond have grappled in some way with Airbnb’s impact on the housing market—especially as we learn more about how short term rentals can stress the housing market and heavily burden communities of color”
CNBC – “New Home Sales Tank 19 Percent to End 2018” (1-15-2019)
“The government shutdown hasn’t completely stopped the flow of stunningly bad housing data. Sales of newly built homes fell 18 percent in December compared with December of 2017, according to data compiled by John Burns Real Estate Consulting, a California-based housing research and analytics firm.”
Realtor.com – “Buying A Foreclosed Home: How a Foreclosure Sale Works” (1-15-2019)
“Buying a foreclosed home can be a good way to score a deal while house hunting. These are houses whose owners were unable to pay the mortgage or sell the property.”
Bruce Norris will be presenting his latest talk 10 Decisions To Make Before The Next Downturn with OCREIA on Thursday, January 17.
Bruce Norris will be presenting his newest market timing report California Real Estate: On Borrowed Time on Saturday, January 26.
Aaron Norris will be presenting Technology Trends and Effects on Real Estate with the South Orange County Real Estate Investment Club on Wednesday, January 30.
Aaron Norris will be presenting Technology Trends and Effects on Real Estate at IVAR on Wednesday, February 6.
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