Norris Bruce
Apr 09, 2019

Here’s A Hint: It’s Not San Francisco

Today’s News Synopsis:

Who has the most affordable houses?  Luxury homes are adding new features to cater to the children who live in them, including robot classes and walls made of Legos.  In 2019, sellers spent $21,000 on average to sell their home.

In The News:

Redfin – “In Atlanta, Nearly Half of Homes For Sale Are Affordable on the Nation’s Median Income.  In San Francisco?  Less Than 1%” (4-9-2019)

“In the Atlanta metro area, 45.7 percent of homes currently for sale are affordable on $61,372, the median U.S. household income in 2017, the most recent year for which data is available.”

Forbes “LEGO Walls, Robot Classes, Splash Rooms: The Latest Luxury Amenities Get Creative For The Kids” (4-9-2019)

“Building amenities can no longer get away with only being luxurious and exclusive. They have to be creative too.”

Zillow “Sellers Spend Nearly $21,000 to Sell a Home in 2019” (4-9-2019)

“Home sellers in the United States spend $20,851on average to sell their homes, according to Zillow® and Thumbtack’s 2019 Hidden Costs of Selling analysis.”

Mortgage Bankers Association “March New Home Purchase Mortgage Applications Increased 7 Percent” (4-9-2019)

“The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for March 2019 shows mortgage applications for new home purchases increased 7 percent compared to a year ago.”

CoreLogic “CoreLogic Reports U.S. Overall Delinquency and Foreclosure Rates Lowest for January in at Least 20 Years” (4-9-2019)

“CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report.”

Apartment Therapy “How I Finally Got My New Apartment to Smell Like Home” (4-9-2019)

“You know that feeling you get when you walk into a space and it just plain smells good? Yeah, me too, and I’ve spent the last six months in my new apartment trying to achieve that singular goal.”

Wall Street Journal – “Home-Buying Startup Opendoor Courting Miffed Brokers” (4-9-2019)

“Opendoor, a real-estate startup that broke new ground by enabling users to buy or sell homes online with the click of a button, is moving to work more closely with the brokerage industry.”

Inman “Zestimate suit resurfaces, alleges Zillow conspiracy with brokerages” (4-9-2019)

“The complaint alleges Zillow entered into agreements with Sotheby’s, Coldwell Banker, Century 21, Corcoran and Weichert Realty to conceal Zestimates on their listings.”

HousingWire “Hispanics accounted for the majority increase in U.S. homeownership” (4-9-2019)

“The National Association of Hispanic Real Estate Professionals released the 2018 State of Hispanic Homeownership Report on Tuesday at its Housing Policy & Hispanic Lending Conference.”


California Real Estate Investor Events

Bruce Norris will be presenting his latest Real Estate Market Update with Tri-Counties Association of Realtors on Thursday, April 11.

Bruce Norris will be presenting 10 Decisions To Make Before The Next Downturn at the AOA Million Dollar Trade Show on Wednesday, April 17.

Aaron Norris will be presenting Innovating Real Estate Marketing with the Moreno Valley Professionals on Thursday, April 18.

Bruce Norris will be presenting 10 Decisions To Make Before The Next Downturn with Pasadena FIBI on Thursday, April 18.


Looking Back:

A record 64 million Americans lived in multigenerational households.  The latest Home Purchase Sentiment Index from Fannie Mae showed sentiment increased slowly, although it continued to remain unpredictable.  Surprisingly, almost half of the largest cities in the nation’s households earned minimum wage or more.


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