Today’s News Synopsis:
Home Equity Hits Record High. The NAHB reported multifamily housing starts are expected to be in a good position this year and supposed to be 2% lower at 354,000, down from 360,000 last year. Four trends expected to have an impact on the rental market this year are occupancy rates, population shifts, hot market opportunities, and disruption in the technical field.
In The News:
Realtor.com – “5 Reasons It’ll Pay to Sell Your Home Early in 2018” (1-10-2018)
“It’s been nearly a decade since the Great Recession delivered the worst housing crash in modern memory. But these days, the fallout feels squarely in the rearview mirror.”
CNBC – “Home equity hits record high, and here’s how homeowners are spending it” (1-10-2018)
“Homeowners are racking up record amounts of home equity, thanks to fast-rising values in today’s competitive housing market.”
NAHB – “Multifamily Housing Production Enters Sustainable Phase” (1-10-2018)
“Although multifamily housing starts are expected to slightly moderate this year and in 2019, production levels are projected to remain stable in a range considered normal, according to experts participating in a press conference today during the National Association of Home Builders (NAHB) International Builders’ Show in Orlando, Fla.”
CNBC – “Mortgage applications shoot up 8.3% to start the year” (1-10-2018)
“Pent-up demand from the holidays likely fueled the solid jump in mortgage applications last week. Total application volume rose 8.3 percent during the first week of the year from the previous week, as mortgage rates held below year-ago levels, according to the seasonally adjusted Mortgage Bankers Association report.”
Business Insider – “These are the 10 hottest housing markets in America to watch in 2018” (1-10-2018)
“The US housing market has regained its momentum. About half of all homes in the country are worth as much or more than they were in April 2007, during America’s most recent housing boom, according to data from Zillow.”
Inman – “Landlords starting to accept digital currency for rent” (1-10-2018)
“Forget cutting checks to pay for rent. On both coasts, several tech-forward real estate companies have begun accepting digital currency for rental deposits and payments, coinciding with the growing general interest in, and value of, these new electronic payment systems.”
HousingWire – “Employers can now contribute to their employees’ down payments, just like a 401(k)” (1-10-2018)
“Many employers offer a number of benefits as a way to entice new employees to join the company and to keep their current employees satisfied, including health insurance, paid time off, and contributions to the employees’ 401(k) account.”
Forbes – “Four Trends That Will Impact Rental Markets In 2018” (1-10-2018)
“As we embark on 2018, there is a multitude of changes and trends in the real estate market that will impact all aspects of the rental industry, and it’s important for real estate professionals to explore them.”
Hard Money Loan Closed
Adelanto, California hard money loan closed. Real estate investor received loan for $125,000 on this single family property.
Bruce Norris will be presenting Stay Put or Cash Out with OCREIA on Thursday, January 11.
Bruce Norris will be presenting Stay Put or Cash Out with OC FIBI on Tuesday, February 6.
Bruce Norris will be presenting Stay Put or Cash Out with TIGAR on Thursday, February 15.
The NAHB reported growth in the housing market for the 55 and up age group, growth they expected to see continue. 26,000 foreclosures were completed in November according to CoreLogic’s November foreclosure report. The NAHB also reported single-family production would continue to grow in the upcoming year with the stronger economy, employment, and households.
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.