Today’s News Synopsis:
Would you sell your house if you thought it had ghosts? The Mortgage Bankers Association reported mortgage applications increased 0.6% from last week. Developers are turning to NASA photos to attract people to their luxury buildings.
In The News:
Yahoo Finance – “Haunted Real Estate: Half of Homeowners Would Sell House Believed to Have Ghosts” (10-30-2019)
“Halloween may be a time when people enjoy a good fright, but a new survey suggests that, for many, a haunted house is no laughing matter.”
Mortgage Bankers Association – “Mortgage Applications Increase in Latest MBA Weekly Survey” (10-30-2019)
“Mortgage applications increased 0.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 25, 2019.”
Realtor.com – “5 Crucial Questions to Ask Before You Flip Your First House” (10-30-2019)
“Thanks to the seemingly endless glut of home improvement TV shows like “Flip or Flop,” “Masters of Flip,” and “Rehab Addict,” it seems like flipping houses has become America’s favorite pastime.”
DS News – “Where Homeowners Are ‘Overstretched'” (10-30-2019)
“While in most cases the price of a home should not exceed three times a buyer’s annual income, in some cities, many potential buyers may find it difficult to find a home within those parameters.”
Forbes – “Never-Before-Seen NASA Photos Join The Latest Trends In High-End Amenities” (10-30-2019)
“It is getting harder for developers to come up with new ideas for amenities to attract residents to luxury buildings. From roof top decks to spas, everything’s been done (or so it seems).”
Wall Street Journal – “Fed Cuts Rate for Third Time This Year, Signals Pause” (10-30-2019)
“The Federal Reserve cut interest rates for the third time this year and began to downplay expectations of further cuts for now.”
SF Gate – “Should You Buy a Stale Listing? Pros and Cons of Buying a House With a High DOM” (10-30-2019)
“A real estate listing can tell you an awful lot about a home, beyond just the price—essential stats like the year the property was built and the price per square foot.”
Curbed – “Studio One Eleven designing shipping container apartments for homeless in Watts” (10-30-2019)
“The design firm behind Downtown LA’s The Bloc plans to build an affordable housing project in Watts that will use stacked shipping containers.”
Hard Money Loan Closed
San Bernardino, California hard money loan closed. Real estate investor received loan for $167,000 on this single family property appraised for $261,000.
Bruce Norris will be presenting 10 Decisions to Make Before The Next Downturn with the South OC REI Club TONIGHT.
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.
How many hours would you need to work to afford your mortgage in each city? The latest Case-Shiller Index showed home price gains were only 0.1%, putting it at 5.5% higher than the previous year but at its lowest annual increase in almost two years. In fact, California as a whole experienced its worst slump in ten years with both new and existing houses and condominiums sold having decreased 18% compared to September the previous year.
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