Today’s News Synopsis:
Trulia says housing is getting more affordable (not a typo). At the same time, builders are telling Congress that progress is being made on regulatory reform, but there is still much to be done. The Mortgage Bankers Association reported 0.3% increase in mortgage applications from last week.
In The News:
National Association of Realtors – “Realtors Offer Support for Proposed Association Health Plan Rule” (3-7-2018)
“A proposed rule from the U.S. Department of Labor could make it easier for small businesses and self-employed individuals to purchase health insurance through association health plans, or AHPs, according to the National Association of Realtors.”
Mortgage Bankers Association – “Mortgage Applications Slightly Increase in Latest MBA Weekly Survey” (3-7-2018)
“Mortgage applications increased 0.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 2, 2018.”
“The National Association of Home Builders (NAHB) today lauded efforts by the Trump administration and Congress to roll back onerous regulations that hurt home building firms and other small businesses but cautioned that much more needs to be done to further reduce regulatory burdens.”
Bloomberg – “In Real Estate, It Pays to Put Women on the Board, Study Shows” (3-7-2018)
“Real estate is still largely a man’s world, but companies with women on the board are the ones rewarding investors.”
HousingWire – “Trulia says housing actually growing more affordable” (3-7-2018)
“A growing number of reports are pointing out the concerns surrounding diminishing affordability, however a new report from Trulia says housing is actually more affordable now than it was 40 years ago.”
Realtor.com – “What Is a Bedroom? Make Sure You Know the Legal Requirements” (3-7-2018)
“Does anyone who is not from the other side of the galaxy really need to ask, “What is a bedroom?” Actually, yes. Welcome to the nuances of real estate speak, where not everything is as it seems.”
Curbed – “LA closing in on new rules to build homeless housing faster” (3-7-2018)
“A plan to speed up construction of housing specifically geared to serve homeless residents took a big step forward Tuesday when it cleared the city council’s Planning and Land Use Management Committee.”
National Mortgage News – “GSE credit risk transfer programs are a housing reform model” (3-7-2018)
“The success of the government-sponsored enterprises’ credit risk transfer programs shows that they can be the basis for housing finance reform.”
Hard Money Loan Closed
Apple Valley, California hard money loan closed. Real estate investor received loan for $80,000 on this single family property appraised for $173,000.
Bruce Norris will be speaking at the 2018 Real Estate Market Forecast in Ontario, California TODAY.
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.
Home prices in the U.S. increased 6.9% according to CoreLogic’s latest report. Fannie Mae reported an all time-high for consumer confidence, which increased by 5.6 percentage points to 88.3. On this note, the group that was helping boost confidence in the housing market, even in the midst of high prices, was the millennials.
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.