Norris Bruce
Oct 09, 2019

Good Luck Getting A Reservation!

Today’s News Synopsis:

Airbnb the Goodyear Blimp.  What’s the new in color for design?  Mortgage applications increased 5.2% from last week according to the Mortgage Bankers Association.

In The News:

Realtor.com “3 Fast Fixes for the Home Features Millennial Buyers Hate” (10-9-2019)

“When it comes to selling a house, you want to appeal to as many potential buyers as possible. For years, that meant targeting baby boomers and Gen Xers; but today, millennials are buying homes in larger numbers than ever.”

MarketWatch “Opinion: This tax break for first-time homebuyers could keep the housing market afloat” (10-9-2019)

“It’s not easy being a home buyer these days. U.S. home prices are high, housing inventory is low, and consumer sentiment is wobbling.”

Mortgage Bankers Association “Mortgage Applications Increase in Latest MBA Weekly Survey” (10-9-2019)

“Mortgage applications increased 5.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 4, 2019.”

Apartment Therapy “Gray Is Out and Beige Is Back, According to This Survey of Designers” (10-9-2019)

“The reports are in: Gray is out and beige is back. That’s according to a just-released survey by Sherwin-Williams.”

Redfin “Bidding Wars Edge Up Slightly in September, Bucking the Typical Seasonal Trend” (10-9-2019)

“11% of Redfin offers faced competition in September, up from August’s 8-year low of 10%, but still much cooler than last year.”

Curbed “Here’s how California’s rent control law will work” (10-9-2019)

“Gov. Gavin Newsom signed Assembly Bill 1482 this afternoon, enacting rent control in California, when ‘no one thought this could be done.'”

HousingWire “It’s official: Appraisals are no longer required on some home sales of $400,000 and under” (10-9-2019)

“Beginning Oct. 9, 2019, certain home sales of $400,000 and under will no longer require an appraisal.”

CNN Travel “Goodyear has listed its iconic blimp on Airbnb for 3 nights only” (10-9-2019)

“Many sports-loving Americans can say they’ve spotted one of Goodyear’s famous blimps hovering overhead at a football game. Far fewer can say they’ve spent the night inside one.”

 

California Real Estate Investor Events

The Norris Group will be presenting its 9th annual Cutting-Edge Financial Tactics Brunch on Saturday, October 19.

Bruce Norris will be presenting 10 Decisions to Make Before The Next Downturn with the South OC REI Club on Wednesday, October 30.

 

Looking Back:

Suburbs in largest metros carry the heaviest burden.  The mortgage delinquency rate in the U.S. decreased to its lowest in 12 years with 4.1% of mortgages in some stage of delinquency, down from 4.7% in July 2017.  Home appreciating at a faster rate than a normal U.S. home was surprisingly a foreclosure.

 

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