More Options Means Less Down and Riskier Debt

Today’s News Synopsis:

Homebuyers are stretching budget and mortgage limits.  HUD and the Census Bureau reported a 4% increase in new homes sales for the month of March.  Home prices also picked up across the country according to the latest Case-Shiller Index.

In The News:

National Association of Realtors“Consumer Interest Trends Towards Sustainability, say Realtors” (4-24-2018)

“As consumer demand trends toward green and sustainable home features, Realtors continue to work to promote environmentally responsible features and business practices.”

NAHB – “New Home Sales Rise 4 Percent in March” (4-24-2018)

“Sales of newly built, single-family homes rose 4.0 percent in March to a seasonally adjusted annual rate of 694,000 units after an upwardly revised February report, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.”

Bloomberg – “U.S. Consumer Confidence Rebounds as Homebuying Plans Hit Record” (4-24-2018)

“U.S. consumer confidence unexpectedly rose in April to the second-highest level since 2000 as Americans grew more upbeat about both current conditions and the economic outlook, according to figures Tuesday from the New York-based Conference Board.”

HousingWire – “Case-Shiller reports increase in home price growth” (4-24-2018)

“Home prices increased across the U.S. in February, picking up the pace in annual price gains, according to the latest report released by S&P Dow Jones Indices and CoreLogic.”

USA Today – “Worried about the next bear market?  Real estate may be your best investment.  Really.” (4-24-2018)

“Real estate may be one of your best investments during the next bear market for stocks.  And by real estate, I mean your home or other residential properties.”

CNBC – “Homebuyers are stretching their budgets and mortgage limits to win bidding wars” (4-24-2018)

“At a Sunday open house on a sunny spring day outside Philadelphia, only about a half-dozen families showed up to tour a $600,000 colonial.”

HousingWire “Lenders: New home sales are picking up for the spring, are you ready?” (4-24-2018)

“After seeing decreases since the beginning of 2018, new home sales reversed course and increased in March signaling a busy spring ahead for loan officers, according to the latest report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.”

Bob Vila“7 Companies That Want to Help Their Employees Buy a House” (4-24-2018)

“In an era where job perks are king and housing expenses are high, among the most attractive fringe benefits are programs that assist workers in buying new homes.”

 

Hard Money Loan Closed

San Bernardino, California hard money loan closed. Real estate investor received a loan for $210,000 on this single family property.

San Bernardino Hard Money Loan

 

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.

Bruce Norris will be presenting Stay Put or Cash Out with HomeVestors on Wednesday, May 23.

Bruce Norris will be speaking at the NSDREI 14th Anniversary Dinner Party on Tuesday, June 19.

 

Looking Back:

The latest Home Price Index Report from Black Knight Financial Services showed home prices increased reached a new high in February, having increased 0.8% month-over-month and 5.7% year-over-year.  The housing market for sellers for the spring was at its best as homes were selling faster than they were being put on the market.  The latest Inaugural Redfin Migration Report showed the leading cause for migration patterns out of California this year was the expensive housing market.

 

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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