Norris Bruce
Jul 06, 2016

More Foreign Investors Leaving Real Estate Market

Today’s News Synopsis:

In the wake of Brexit, refinance applications increased 14.2% from last week, their highest increase in 18 months.  A new, more up-to-date forecast of the commercial/multfiamily real estate market was released by the MBA, putting them both at about $500 billion this year.  More foreign investors are leaving the U.S. real estate market.

In The News:

Housing Wire – “The Brexit impact is real: Refis jump to 18-month high” (7-6-16)

“Brexit’s impact on mortgage applications is in and looks like borrowers cashed in on the ultra-low interest rates.”

Bloomberg – “As Growth in Apartments Rents Slows, U.S. Developers Press Pause” (7-6-16)

“Developers Steven Shores and Marc Pollack found a way to stand out from the crowd rushing to build apartments in Atlanta’s ritziest neighborhood: they’re putting their 315-unit project in Buckhead on hold.”

Mortgage Professional America – “Treasury bonds hit record lows – could mortgage rates follow?” (7-6-16)

“Treasuries plunged to record lows Tuesday as investors scrambled to the safety of government debt amid fears over the UK’s decision to leave the European Union.”

Redfin – “Foreign Investors Pulled Back From U.S. Real Estate Amid Global Woes” (7-6-16)

“Foreign buyers retreated from the U.S. real estate market last year as a strong dollar, rising home prices and slowing overseas economies crimped buying power.”

Construction Dive – “Update: VA scores $165M federal grant to set $1.4B state infrastructure plan in motion” (7-6-16)

“The U.S. Department of Transportation awarded Virginia a $165 million FASTLANE grant for the Atlantic Gateway plan, Gov. Terry McAuliffe announced in a press release Tuesday.”

Mortgage Bankers Association – “MBA Releases Updated Commercial/Multifamily Real Estate Finance Forecast” (7-6-16)

“The Mortgage Bankers Association (MBA) projects originations of commercial and multifamily mortgages will total $500 billion in 2016, roughly flat from the $504 billion originated in 2015 and slightly less than the record of $508 billion originated in 2007.”

DS News – “Deceptive Foreclosure Practices in the Crosshairs” (7-6-16)

“Foreclosure companies trading in deceptive practices could be in line for a regulatory makeover, now that Colorado’s attorney general has won a key procedural victory against one firm in her state.”

Mortgage Professional America – “Senate housing reform champions made money off of housing collapse” (7-6-16)

“Treasuries plunged to record lows Tuesday as investors scrambled to the safety of government debt amid fears over the UK’s decision to leave the European Union.”

Redfin – “Bidding Wars Intensify as Some Homebuyers Make Simultaneous Offers on Multiple Homes” (7-6-16)

“High-season pressure hit homebuyers especially hard this spring, forcing them to make significant compromises in order to get under contract on the right home.”

 

Hard Money Loan Closed

San Jacinto, California hard money loan closed. Real estate investor received loan for $120,000 on this single family property appraised for $221,000.

San Jacinto Hard Money Loan closed by the Norris Group

 

California Real Estate Investor Events

Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with LAREIC on Tuesday, July 12.

Aaron Norris will be presenting his newest talk Marketing Trends and Strategies for Real Estate Pros in 2016 with Pasadena FIBI on Thursday, July 21.

Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with InvestClub for Women on Wednesday, September 21.

Image copyright source: www.flickr.com/photos/epsos

 

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.



 









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