iBuyer Beware!

Today’s News Synopsis:

Bernie Sanders housing plan would not be good for iBuyers.  The NAHB reported new homes sales increased by 7.1% in August, a healthy gain.  Mortgage applications, meanwhile, decreased 10.1% from last week.

In The News:

NAHB “New Home Sales Post Solid Gains in August” (9-25-2019)

“Sales of newly built, single-family homes increased 7.1 percent to a seasonally adjusted annual rate of 713,000 units in August off a revised upward reading in July, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.”

Realtor.com “What Is Jute – or Abaca?  Why Natural Fiber Rugs Are All the Rage” (9-25-2019)

“You’ve probably read that the rug you place under your furniture should tie the room together, as well as offer warmth and softness underfoot.”

Inman “‘They’re screwed’: iBuyers would suffer under Bernie Sanders’ housing plan” (9-25-2019)

“The senator’s proposed anti-home-flipping and vacant-home taxes could strain the likes of Opendoor, Offerpad and Zillow Offers.”

Mortgage Bankers Association “Mortgage Applications Decrease in Latest MBA Weekly Survey” (9-25-2019)

“Mortgage applications decreased 10.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 20, 2019.”

DS News “Rent vs. Buy: The Regions with Most Renters” (9-25-2019)

“A recent study by the National Association of Home Builders (NAHB) indicated that renting was more popular in some cities than others.”

Apartment Therapy “8 Design Trends That Will Rule the Rest of 2019, According to Experts” (9-25-2019)

“We’re going to let you in on a little secret: Interior design trends come and go faster than you can say, “Peel and stick wallpaper.” In fact, many of the trends we predicted last year—and even a few months ago!—are on their way out.”

Curbed “Why is Indianapolis one of Airbnb’s hottest cities?” (9-25-2019)

“Indianapolis, Indiana, has a lot going for it. A finalist for Amazon’s HQ2 contest, the Midwest metro has a growing tech and cultural scene, and is now celebrated for its Cultural Trail and recent investment in renovating its downtown.”

Realtor.com “7 Crucial Things You Need to Clarify Before Hiring Painters” (9-24-2019)

“It doesn’t matter if you’re tackling one room or your entire home—painting is a big job.”


California Real Estate Investor Events

The Norris Group will be presenting its 12th annual award-winning black-tie event I Survived Real Estate 2019 on Friday, September 27.

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:

Avoiding real estate development landmines.  Home price gains in the U.S. were slower in July for the fourth month in a row, having increased only 65 in July compared to the previous year at 6.2%.  Despite what the market was looking like, there were still affordable houses out there.


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