Norris Bruce
May 16, 2018

Dog Parks and Gardens or Golf and Pickleball?

Today’s News Synopsis:

What do retirees want?  HUD and the Commerce Department reported a 3.7% decrease in housing production, although it continues to be at a post-recession high.  The Mortgage Bankers Association reported mortgage delinquencies decreased in the first quarter to 4.63%.

In The News:

NAHB – “Housing Production Drops 3.7 Percent But Remains Near Post-Recession High” (5-16-2018)

“Total housing production fell 3.7 percent in April to a seasonally adjusted annual rate of 1.29 million units after an upwardly revised March reading of 1.34 million, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department.”

Forbes – “Even a ‘Good’ Credit Score Equals $15K More In Mortgage Costs” (5-16-2018)

“While most home sellers don their home-selling hats after their real estate listing goes live on the multiple listing service, if you’re eager to generate some buzz sooner, you certainly can—and should”

HousingWire – “Trump administration officially nominates Michael Bright to lead Ginnie Mae” (5-16-2018)

“Ginnie Mae has been without a permanent leader since January 2017, but that could soon change, as the Trump administration announced Tuesday that it is formally nominating Michael Bright to serve as president of Ginnie Mae.”

Mortgage Bankers Association “Mortgage Delinquencies Down in 1st Quarter of 2018” (5-16-2018)

“The delinquency rate for mortgage loans on one-to-four-unit residential properties fell to a seasonally-adjusted rate of 4.63 percent of all loans outstanding at the end of the first quarter of 2018.”

MarketWatch“How ‘inside jobs’ can sabotage a home sale” (5-16-2018)

“A home sale can have many potential deal killers. Emotions can run high. There can be hidden agendas.”

Curbed – “Homebuying today: Fewer homes, higher prices, and faster deals” (5-16-2018)

“Amy Cesario has spent more than 15 years buying and selling real estate in the Denver area, weathering housing crashes and watching neighborhoods bounce back.”

John Burns Real Estate Consulting – “Retirees Want More Dogs and Gardens, Less Golf and Pickle Ball” (5-16-2018)

“Retiree amenity preferences shift over time. In our book Big Shifts Ahead, Chris Porter and I broke the generations into decade born because the traditional definitions involved far too many years.”

Fortune“Fed Votes to Keep Interest Rates Unchanged, But a June Hike Is Likely” (5-16-2018)

“In a unanimous vote, the Federal Reserve decided to keep interest rates unchanged at 1.5 to 1.75% Wednesday.”

 

Bruce Norris will be presenting Stay Put or Cash Out with Homevestors Wednesday, May 23.

Aaron Norris will be presenting Technology Trends and Effects on Real Estate at the SRCAR Realtor Expo Thursday, June 7.

Bruce Norris will be speaking at the California Chapter of the Appraisal Institute’s 21st Annual Inland Empire Market Trends on Thursday, June 7.

Bruce Norris will be presenting Stay Put or Cash Out with the San Diego Investment Club on Thursday, June 7.

 

Looking Back:

Construction on multifamily properties decreased 2.6% the previous month according to HUD and the Commerce Department.  Mortgage delinquency rates decreased to 4.71% at the end of the first quarter of 2017 according to the Mortgage Bankers Association.  Fannie Mae released their latest Economic and Housing Outlook, showing they expected the second quarter to pick up following a slow first quarter.

 

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