For Some, It’s Right Up “Meme” St.

Today’s News Synopsis:

Mixing humor with marketing.  Freddie Mac reported mortgage rates decreased this week with 30-year rates now at 3.45% and 15-year rates at 2.95%.  However, they may not hit an all-time low.  What is the best time to list your property?

In The News:

Zillow “Listing in Early May Can Earn Home Sellers a $2,100 Premium” (2-27-2020)

“To get the most money when selling your home, the best time to list it for sale is typically the first half of May, a Zillow® analysis shows. Listing your home during this window can bring a median premium of $2,100 on the typical U.S. home — and as high as $24,400 in expensive markets.”

Freddie Mac “Mortgage Rates Fall Back” (2-27-2020)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.45 percent.”

National Association of Realtors “Pending Home Sales Ascend 5.2% in January” (2-27-2020)

“Pending home sales rebounded in January, ticking up following a decline in December, according to the National Association of Realtors.”

ATTOM Data Solutions “Vacant “Zombie” Foreclosures Increase to 3.1 Percent Nationwide” (2-27-2020)

“ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released its Q1 2020 Vacant Property and Zombie Foreclosure Report showing that over 1.52 million U.S. single-family homes and condos are vacant, representing 1.5 percent of all homes.”

NAHB Now “Multifamily Builder and Developer Confidence Remains Unchanged in the Fourth Quarter” (2-27-2020)

“Confidence in the market for new multifamily housing remained unchanged in the fourth quarter, according to results from the Multifamily Market Survey (MMS) released today by NAHB.”

Mortgage Professional America “More homeowners want to make home improvements this year” (2-27-2020)

“Three in four homeowners are planning to make home improvements this year, boosting renovation spending by 27%.”

MarketWatch “Mortgage rates fall to three-year low amid coronavirus – here’s why they may not hit an all-time low” (2-27-2020)

“Mortgage rates usually follow the direction of the 10-year Treasury note’s yield, which dropped to the lowest level ever recorded as more cases of COVID-19 emerged outside China.”

HousingWire “Humor in Real Estate: What Does It Meme?” (2-27-2020)

“It’s hard to recall a time before memes existed on the internet. Highly relatable and 100% enjoyable, memes have rapidly taken over our digital landscape. And it’s fair to say they’ve infiltrated the real estate industry, too.”


California Real Estate Investor Events

Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with OC FIBI on Tuesday, March 3.

Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with NorcalREIA on Wednesday, March 11.

Bruce and Aaron Norris will be presenting their latest Florida Buying Bootcamp 2020 Thursday-Friday, March 19-20.


Looking Back:

A big reason millennials were not able to purchase a home was they were not getting the extra money from their parents.  The National Associaton of Realtors reported a 4.6% increase in pending home sales the previous month.  The Mortgage Bankers Association reported mortgage applications increased 5.3% from the previous week


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