Make It Cozy and Bright

Today’s News Synopsis:

Want to throw a rockin holiday-themed open house?  Existing-home sales decreased 1.7% in November according to the National Association of Realtors.  Mortgage rates remained flat with 30-year rates at 3.73% and 15-year rates at 3.19%.

In The News:

Freddie Mac “Mortgage Rates Remain Flat” (12-19-2019)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.73 percent, unchanged from a week ago.”

Zillow “U.S. Home Value Growth Near Six-Year Lows as the Housing Market Continues to Steady Itself” (12-19-2019)

“Annual home value growth has reached its lowest point since January 2013 as the housing market continues its return to historic norms after a red-hot 2017 and 2018. The typical U.S. home value grew 3.8% to $243,225[i], according to the November Zillow® Real Estate Market Report.”

Mortgage Bankers Association “Commercial/Multifamily Mortgage Debt Increased $75.7 Billion in the Third Quarter of 2019” (12-19-2019)

“The level of commercial/multifamily mortgage debt outstanding rose by $75.7 billion (2.2 percent) in the third quarter of 2019, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report.”

National Association of Realtors “Existing-Home Sales Descend 1.7% in November” (12-19-2019)

“Existing-home sales fell in November, taking a small step back after October’s gains, according to the National Association of Realtors.”

Yahoo Finance “‘Land scarcity has really made it difficult for builders’ to construct affordable homes” (12-19-2019)

“Construction companies want to build affordable housing — but they need help from politicians, they say.  Current land use and zoning policies are preventing developers from building enough affordable housing in high-demand areas, said Robert Dietz, chief economist at the National Association of Home Builders, a Washington, D.C.-based trade association.”

Realtor.com “Need $15K?  Here’s the Latest City That’ll Pay You to Move There” (12-19-2019)

“Want to settle in a new city? Then consider Topeka, KS. Although it might not be the top dream destination on your list, a new program will pay you up to $15,000 to move there.”

Redfin “Home Prices Increased 5% in November Amid Rapid Decline in Number of Homes For Sale” (12-19-2019)

“U.S. home-sale prices increased 5.2% year over year in November to a median of $311,600 across the 217 metros Redfin tracks.”

The Balance “Buying Post Foreclosures-REOs” (12-19-2019)

“When shopping for a new home, some people want to squeeze extra value out of their dollars by attempting to buy a distressed property at a discount.”

Realtor.com “Hark, the Buyers Sing!  4 Tips to Throw a Rockin’ Holiday – Themed Open House” (12-19-2019)

“If you’ve decided to keep your home on the market this holiday season (and you totally should), you probably have a few questions. Like, how much should you decorate the house? Or, is it OK to leave presents under the tree?”

 

California Real Estate Investor Events

Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with Prosperity Through Real Estate on Tuesday, January 7.

Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with Robert Hall & Associates on Wednesday, January 8.

Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with OCREIA on Thursday, January 9.

Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with CVREIA on Thursday, January 14.

Bruce Norris will be presenting Turmoil: The Coming Storm of Negative Interest Rates on Saturday, February 1.

 

Looking Back:

2019 Winter home maintenance To-Do list.  Existing-home sales increased for the second month in a row by 1.9% to 5.32 million.  However, they were lower year-over-year as a result of what was believed to be affordability still being an issue.

 

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