Make Sure You Weigh The Pros and Cons

Today’s News Synopsis:

Thinking about renting out your spare room?  The Mortgage Bankers Association reported mortgage applications decreased 0.1% from last week.  Co-living is becoming the way to live now, but only because people have to in order to afford to live.

In The News: “7 Home Maintenance Projects You Might Overlook – but Really Need to Do” (11-6-2019)

“The big improvements always get all the glory—the classic kitchen remodel, the bathroom addition, the transformation of a once creepy basement into a media room. But what about all those little projects around the house?”

Mortgage Bankers Association “Mortgage Applications Decrease in Latest MBA Weekly Survey” (11-6-2019)

“Mortgage applications decreased 0.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 1, 2019.”

Zillow “Housing Affordability Outlook is Encouraging for Military Households” (11-6-2019)

“Active-duty military and veteran households are, on average, better able to afford housing than a typical U.S. household, according to a new Zillow® analysis.”

MarketWatch “Fewer homeowners are burdened by housing costs – but there’s a big catch” (11-6-2019)

“American homeowners aren’t feeling the pinch from housing costs like they used to — but that’s not necessarily reason to celebrate.”

Forbes “Be Aware Of The Pros And Cons Before You Rent Out A Room In Your Home” (11-6-2019)

“Choosing to rent out a spare room in your home to make ends meet is not a decision to take lightly.”

Bloomberg “How California Became America’s Housing Market Nightmare” (11-6-2019)

“California, the land of golden dreams, has become America’s worst housing nightmare.  Recent wildfires have only heightened the stakes for a state that can’t seem to build enough new homes.”

Apartment Therapy “Co-Living Is Not a Trend, It’s How Everyone Has to Live Now” (11-6-2019)

“In my entire 27 years of life, I’ve only lived places where there were a lot of people around all the time. I grew up having at least one family member at home most days, and since college, I’ve had more than 20 roommates.”

National Mortgage News “Taylor Morrison to buy William Lyon Homes, merge mortgage units” (11-6-2019)

“Taylor Morrison Home Corp. has agreed to buy William Lyon Homes in a deal that would combine the two companies’ in-house mortgage divisions and make the resulting entity the fifth-largest U.S. homebuilder.”

CNBC “More builders turning to cash-for-homes company Opendoor to spur housing sales” (11-6-2019)

“Homeowners dreaming of moving up from their starter home to a newly built, larger home are being offered more ways to make the move as quickly and effortless as possible.”


California Real Estate Investor Events

Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing with TIGAR on Tuesday, November 12.

Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing with Pasadena FIBI on Thursday, November 21.

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


Looking Back:

7 Mistakes to avoid when renovating an older home.  The Mortgage Bankers Association reported an increase in mortgage credit availability in October, up by 2.5% to 186.7.  Home prices increased 5.6% year-over-year in September according to CoreLogic.


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