Today’s News Synopsis:
How can you meet your neighbors? HUD and the Commerce Department reported a 1.9% increase in housing starts last month. Apparently, the housing market right now is the most “competitive in history” according to homebuyers.
In The News:
NAHB – “Housing Starts Rise 1.9 Percent on Multifamily Surge” (4-17-2018)
“Gains in multifamily production pushed overall housing starts up 1.9 percent in March to a seasonally adjusted annual rate of 1.32 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department.”
Bloomberg – “The Retail Real Estate Glut Is Getting Worse” (4-17-2018)
“The fall of the Toys “R” Us chain, with more than 700 U.S. stores, shows how much retail real estate has changed in just the last decade.”
HousingWire – “MBA Tech: Here are the biggest cybersecurity threats to mortgage companies right now” (4-17-2018)
“It’s every company’s worst nightmare: someone has gained access to your data and locked you out. Now they want money to restore your access, but be careful — there’s no guarantee you’ll get it back, even if you pay.”
Inman – “How to solve real estate’s 6 biggest closing challenges” (4-17-2018)
“Every real estate agent knows the moment an offer is accepted, the deal’s far from done with the thorny closing gauntlet still ahead.”
“Zillow predicts that 2018 will shape up to be an even hotter real estate market than in 2017. An analysis conducted by Zillow Research, a division of Zillow Group that operates the Zillow real estate marketplace, found that homes sold faster than ever in 2017 largely due to shrinking inventory.”
Realtor.com – “How to Meet Your Neighbors: Icebreakers Even Introverts Can Pull Off” (4-17-2018)
“Want to know the secret of how to meet your neighbors after you’ve moved into a new home? It’s this: Stop waiting for people to swing by with an apple pie. These days you have to be proactive and get out there yourself!”
Kiplinger – “5 Things to Do the Moment a Loved One Passes Away” (4-17-2018)
“When a person passes away and his or her family members have dealt with their initial emotions, the real work begins.”
Curbed – “Homebuyers face ‘most competitive market in recorded history'” (4-17-2018)
“Rising real estate costs, demographics shifts, and low inventory have hamstrung homebuyers for years. But according to Danielle Hale, chief economist for Realtor.com, this spring buying season may bring buyer frustration to a boil.”
Hard Money Loan Closed
Carmichael, California hard money loan closed. Real estate investor received a loan for $185,000 on this single family property.
Bruce Norris will be presenting Stay Put or Cash Out with Pasadena FIBI on Thursday, April 19.
Bruce Norris will be presenting Stay Put or Cash Out with the OCRE Forum on Wednesday, May 9.
Bruce Norris will be speaking at the 2018 AOA Million Dollar Trade Show and LandLording Conference on Tuesday, May 15.
The NAHB reported builder confidence remained relatively stable this month, having only decreased 3 points to 68. Fannie Mae released their Economic and Housing Outlook for April, showing it remaining at 2% and not likely to change much this year. Blueprint Robotics in Baltimore were building houses on an assembly line, and the question was whether this would be the future for all homebuilding.
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.