Today’s News Synopsis:
When buying real estate, it might be best to expect the worst. HUD and the Commerce Department reported new home sales bounced back in June by 7%, coming in at 646,000. Mortgage applications decreased for the fourth week in a row, coming in at 1.9%.
In The News:
NAHB – “New Home Sales Rebound in June but Affordability Concerns Persist” (7-24-2019)
“Sales of newly built, single-family homes increased 7 percent to a seasonally adjusted annual rate of 646,000 units in June from a downwardly revised reading in May, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.”
MarketWatch – “Opinion: Why downsizing and moving to a retirement home could be the best move you make” (7-24-2019)
“There are two kinds of moves that occur when you’re older. Ailing seniors enter a nursing home, while healthy retirees may decide to relocate to an assisted-living facility or continuing care retirement community.”
HousingWire – “HUD suspends down payment assistance rule change ‘until further notice'” (7-24-2019)
“The Department of Housing and Urban Development issued a notice to lenders Tuesday announcing the formal suspension of its rule change to down payment assistance guidelines.”
Realtor.com – “Budget Busters: The Maintenance and Repair Costs Homeowners Should Prepare For” (7-24-2019)
“Owning your home feels great—that is, until the roof leaks. Or a pipe breaks. Or the HVAC just dies—in the middle of a summer heatwave, no less.”
Forbes – “Why Assuming The Worst Is Best When Buying Real Estate” (7-24-2019)
“Let’s start by saying that I am an optimist by nature. I see the glass three-quarters full, not half, and I am passionate about real estate and its role in growing my wealth.”
USA Today – “Mortgage applications fall for fourth straight week despite lower rates” (7-24-2019)
“In another sign of a sluggish housing market, mortgage applications edged down last week despite lower borrowing costs.”
Inman – “Email marketing isn’t dead. But how you use it might be” (7-24-2019)
“Every time industry pundits from across verticals proclaim that the inbox is on the outs, research says otherwise. That’s because email marketers do what any business, channel, or even lifeform must do to survive: they evolve.”
Freddie Mac – “Falling Mortgage Rates Bolster Freddie Mac’s Apartment Investment Market Index in Q1” (7-24-2019)
“The Freddie Mac (OTCQB: FMCC) Multifamily Apartment Investment Market Index (AIMI®) rose by 2.4% in Q1 2019 as mortgage rates fell and net operating incomes (NOI) continued their decade-long rise.”
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing with OC FIBI on Tuesday, August 6.
Bruce and Aaron Norris will be hosting a Florida Boot Camp in Fort Myers Florida August 15-16.
Bruce Norris will be presenting his latest talk 10 Decisions To Make Before The Next Downturn with InvestClub on Wednesday, August 21.
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing with WEREP on Friday, August 23.
What 3 cities were paying new residents to relocate? Black Knight reported foreclosure starts were at their lowest in over 10 years, having decreased 3.1% month-over-month in June. According to Zillow, the top farthest places to move to if you wanted to pay less are Boston and Seattle.
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