Just Leave It By The Door. No, No, Just Inside The Door

Today’s News Synopsis:

Amazon wants to let themselves in, with your permission of course.  New home sales increased 18.9% in September while pending sales decreased for the third straight month by 6%.  More and more people are choosing to rent as they are finding it more affordable.

In The News:

Freddie Mac – “New Freddie Mac Survey Finds Affordability Driving Demand for Rental Housing” (10-25-2017)

“New research released today by Freddie Mac (OTCQB: FMCC) indicates that affordability and changing attitudes towards renting are playing a significant role in the growing demand for rental housing.”

Zillow – “September New Home Sales: After a Disappointing Summer, Finally Some Strength” (10-25-2017)

“After a disappointing summer, new home sales roared back in September to record their best month in almost a decade.  September new home sales jumped 18.9 percent from August, to 667,000 units at a seasonally adjusted annual rate (SAAR), according to the U.S. Census Bureau.”

Mortgage Bankers Association“Mortgage Applications Decrease in Latest MBA Weekly Survey” (10-25-2017)

“Mortgage applications decreased 4.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 20, 2017.”

California Association of Realtors“September pending sales and Market Pulse Survey” (10-25-2017)

“California pending home sales dwindled for the third consecutive month, suggesting that the housing market will slow as the end of the year winds down, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.”

HousingWire“Vice President Pence Casts tie-breaking vote to kill CFPH arbitration rule” (10-25-2017)

“Vice President Mike Pence cast the tie-breaking vote Tuesday night to kill the Consumer Financial Protection Bureau’s new arbitration rule.”

Inman – “Amazon wants the keys to your home” (10-25-2017)

“Amazon’s steady encroachment into every corner of our lives has reached a new phase: now Jeff Bezos and co. want the keys to our homes.”

Builder Online – “Where To Find Labor, Today and in the Future” (10-25-2017)

“Four reasons are often given for housing’s labor shortage, now much more acute in the wake of three destructive hurricanes that ripped through the Caribbean, Florida, and Texas, and a wildfire conflagration that blasted California, north of San Francisco.”

Cosmopolitan – “The Problem with Tiny Houses That No One Talks About” (10-25-2017)

“Sure, most of us love scrolling through photos of adorable tiny houses—but not everyone is quite as enamored of the tiny living movement.”

 

Bruce Norris will be speaking at the Cutting-Edge Financial Tactics Brunch on Saturday, October 28.

Bruce Norris will be speaking at the Cutting-Edge Financial Tactics Brunch on Saturday, October 28.

Aaron Norris will be presenting Technology Trends and Effects on Real Estate with LA South REIA on Monday, November 13.

 

Looking Back:

The latest home price index from S&P/Case-Shiller showed home prices in the U.S. increased 5.3% in August.  The FHFA also released their home price index, which showed a 5% increase in home values, putting them at their highest since their peak in 2007.  The latest forecast from the Mortgage Bankers Association reported purchase originations to reach $1.1 trillion the following year.

 

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.

 

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