Norris Bruce
Mar 07, 2019

I’ll Take Half A Vacation Rental….Umm….Make That A Quarter

Today’s News Synopsis:

Did you know you can actually own a fraction of a vacation home?  What were the hottest and not-so-hot markets last month?  Mortgage rates showed signs of increase this week following a downward trend with 30-year rates now at 4.41% and 15-year rates at 3.83%.

In The News:

Realtor.com “Can’t Afford to Buy a Vacation Getaway?  Try Buying a Fraction of One” (3-7-2019)

“Annie Bone owns a three-story house in San Francisco—and two-eighths of a one-bedroom apartment on the Upper West Side of Manhattan.”

Mortgage Bankers Association – “Commercial and Multifamily Mortgage Delinquencies Remain Low in the Fourth Quarter of 2018” (3-7-2019)

“Commercial and multifamily mortgage delinquencies remained at a low rate in the final three months of 2018, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Delinquency Report.”

Zillow – “Buyers Increasingly Gaining Power in Hot West Coast Markets” (3-7-2019)

“Limited inventory and rapid price appreciation have kept sellers firmly in the driver’s seat for several years as the United States recovered from the housing market collapse. Now, buyers are gaining more negotiating power as the housing market slows, especially in some of the nation’s hottest markets.”

CoreLogic “CoreLogic Reports Homeowners with Negative Equity Increased by 35,000 in the Fourth Quarter of 2018” (3-7-2019)

“CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released the Home Equity Report for the fourth quarter of 2018.”

Freddie Mac “Downward Mortgage Rate Trend Ends” (3-7-2019)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that mortgage rates rose after weeks of moderating.”

Apartment Therapy “These Wooden Pop-Up Hotel Rooms Are Made of Eco-Friendly Shipping Containers” (3-7-2019)

“When you hear pop-up accommodations, you’re probably thinking of a tent. AccorHotels has something a bit more glamorous in mind that maintains that connection to your surroundings in an eco-friendly way.”

ThinkRealty “Survey: Home Sellers Question Value of Realtors, but Still Use Them” (3-7-2019)

“As new technology disrupts the world of real estate, home sellers are growing increasingly skeptical of the value realtors bring to the dealmaking table.”

Realtor.com “Which Real Estate Markets Were Hot – or Not – in February 2019?” (3-7-2019)

“n the last month of winter, a chill penetrated even the hottest housing markets in America, according to an analysis of our data on realtor.com®.”

 

 

California Real Estate Investor Events

Bruce Norris will be presenting 10 Decisions To Make Before The Next Downturn with LA South REIA on Monday, March 11.

Bruce Norris will be presenting 10 Decisions To Make Before The Next Downturn with NorcalREIA on Wednesday, March 13.

Aaron Norris will be presenting Innovating Real Estate Marketing with the Black Inland Empire Real Estate Investment Club on Wednesday, March 20.

 

Looking Back:

Trulia said housing was getting more affordable (not a typo).  At the same time, builders were telling Congress that progress was being made on regulatory reform, but there was still much to be done.  The Mortgage Bankers Association reported 0.3% increase in mortgage applications from the previous week.

 

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The Norris Group

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