Norris Bruce
Jul 11, 2019

iBuyer Partnership To Expand Redfin’s Reach

Today’s News Synopsis:

Opendoor partners with Redfin.  Freddie Mac reported mortgage rates remained stable with 30-year rates now at 3.75% and 15-year rates at 3.22%.  What are some of the strangest things sellers have removed from their home before moving out that was quite inconvenient to the new buyer?

In The News:

Freddie Mac “Mortgage Rates Remain Stable” (7-11-2019)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that after declining for most of the year, mortgage rates remained mostly unchanged this week.”

The American Prospect “Private Equity’s Latest Scheme: Closing Urban Hospitals and Selling Off the Real Estate” (7-11-2019)

“Thousands are expected to rally Thursday against the closing of Hahnemann University Hospital, a 171-year-old facility in Center City Philadelphia.”

Inman “These are the most affordable neighborhoods in the US” (7-11-2019)

“As home values climb and a widely anticipated buyer’s market fails to arrive, finding affordable housing can be a challenge — but not impossible, according to an analysis of the most affordable neighborhoods in the United States.”

MarketWatch “Here’s what a ‘starter home’ will cost you in every state across the country” (7-11-2019)

“A “starter home,” a temporary stop on the way to that coveted “forever home” of the American Dream, is defined by Zillow as housing in the lower third of the market in terms of price.”

Forbes “There Are More Real Estate Investment Options Than Ever – Here’s What You Need To Know About Them” (7-11-2019)

“Malcolm Gladwell states that it takes 10,000 hours of practice to become an expert at something. That means it would take nearly five years to become an expert at a discipline if you practice every weekday for eight hours.”

Realtor.com “They Took What?!  The Strangest Things Home Sellers Have Removed – and What Buyers Can Do” (7-11-2019)

“When Diana Abu-Jaber moved into her Miami home, she expected to find everything she had seen when she made her offer to purchase. Instead, she discovered that the previous owners had left her in the dark. Literally.”

Bloomberg – “Opendoor Partners With Redfin to Expand Home-Flipping Reach” (7-11-2019)

“Opendoor, which pioneered a new way for homeowners to sell their abodes, is partnering with rival Redfin Corp. in a move meant to help both companies reach more customers in a still-evolving segment of the real estate industry.”

CNBC “The housing market is about to shift in a bad way for buyers” (7-11-2019)

“Competition in the housing market finally began to cool this year, as listings multiplied and price gains moderated.”

 

California Real Estate Investor Events

Bruce Norris will be speaking at the ThinkRealty Irvine Conference & Expo on Saturday, July 13.

Bruce Norris will be presenting his latest talk 10 Decisions To Make Before The Next Downturn with InvestClub on Wednesday, August 21.

Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing with WEREP on Friday, August 23.

 

Looking Back:

What reality TV doesn’t tell you about flipping houses.  The Mortgage Bankers Association reported a 2.5% increase in mortgage applications from the previous week.  Realtor.com offered buyers a list of scenarios to decide whether it was better to stay and renovate your home or move to a new place.

 

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