Today’s News Synopsis:
How can you be the top bidder on a home? Early-stage delinquencies were less in January according to CoreLogic due to the impact of the hurricanes and fires being less severe. The amount of commercial and multifamily originations closed by the Mortgage Bankers Association in 2017 totalled $530 billion, their highest on record.
In The News:
Realtor.com – “Rising Home Prices Push Borrowers Deeper Into Debt” (4-10-2018)
“More Americans are stretching to buy homes, the latest sign that rising prices are making homeownership more difficult for a broad swath of potential buyers.”
CNBC – “House hunting? Here’s how to win a bidding war” (4-10-2018)
“Today’s housing market is arguably one of the most competitive in history. A record low supply of listings, coupled with extraordinarily high demand from the largest generation, mean fast-rising home prices and more people going after the hottest properties.”
ATTOM Data Solutions – “Rising Tide in Houston Housing Market” (4-10-2018)
“In November 2017 the Houston Astros won their first World Series championship since the team was founded in 1962. It couldn’t have come at a better time for the city — and its residents — raising the collective spirit that was dampened just three months earlier when the flood waters from Hurricane Harvey left more than 137,000 single family homes in the Houston metro area either damaged or destroyed.”
“CoreLogic (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report which shows that, nationally, 4.9 percent of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in January 2018.”
Mortgage Bankers Association – “Mortgage Bankers Close Record $530 Billion in Commercial/Multifamily Originations in 2017” (4-10-2018)
“Commercial and multifamily mortgage bankers closed a record $530.1 billion of loans in 2017, according to the Mortgage Bankers Association’s (MBA) 2017 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation.”
Bloomberg – “This Is America’s Richest Zip Code” (4-10-2018)
“The richest zip code in America is just as exclusive and elite as the people who live there. Fisher Island, located just off the coast of Miami, is accessible only by ferry or water taxi and is a haven for the world’s richest.”
National Association of Realtors – “National Association of Realtors Unveils New Brand and Mark for First Time in 45 Years” (4-9-2018)
“The National Association of Realtors has been helping shape the real estate industry for more than 100 years, and today revealed a modern new visual identity to make its iconic brand and mark more multi-dimensional, dynamic and future-focused.”
Forbes – “Renovation Dreams Fueled By Home Equity Lending Could Be Dashed By Worker Shortage” (4-10-2018)
“A heads up to homeowners who dream of new kitchens with marble counters, heated three-car garages or, my favorite, mudrooms with dog showers: there’s a renovation boom heading our way that’s going to run smack into a shortage of qualified labor.”
Hard Money Loan Closed
Banning, California hard money loan closed. Real estate investor received a loan for $145,000 on this single family property.
Bruce Norris will be presenting Stay Put or Cash Out with Pasadena FIBI on Thursday, April 19.
Bruce Norris will be presenting Stay Put or Cash Out with the OCRE Forum on Wednesday, May 9.
The latest celebrity to perform a real estate transaction, in this case flipping a home, was Billie Lourd, star of “Scream Queens” and daughter of the late Carrie Fisher. Live and Invest Overseas just released their latest list of the top places overseas to buy real estate. More lenders were choosing to refinance their homes rather than sell after the crisis.
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.