Norris Bruce
Jul 18, 2019

More Than Just A Tax Break

Today’s News Synopsis:

Understanding Opportunity Zones.  Mortgage rates increased this week with 30-year rates now at 3.81% and 15-year rates at 3.23%.  U.S. Median Home Prices Reach A New Peak In Q2 2019, up 10.8% from the previous quarter and 6.4% year-over-year.

In The News:

Inman “Understanding the nuances of opportunity zones” (7-18-2019)

“Opportunity Zones have been called everything from a “ridiculous loophole” to ‘the hottest pitch in real estate.'”

NAHB “Remodelers’ Confidence Holds Steady in Second Quarter” (7-18-2019)

“The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) posted a reading of 55 in the second quarter of 2019, rising one point from the previous quarter.”

Freddie Mac “Mortgage Rates Head Up” (7-18-2019)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that after three weeks of holding fairly steady, average mortgage rates ticked up this week.”

ATTOM Data Solutions “U.S. Median Home Prices Reach A New Peak In Q2 2019” (7-18-2019)

“ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released its Q2 2019 U.S. Home Sales Report, which shows that U.S. single-family homes and condos sold for a median price of $266,000 in the second quarter, up 10.8 percent from the previous quarter and up 6.4 percent from a year ago — reaching a new median home price peak.”

HousingWire “Homeowners are taking on fewer house projects, but they’re spending more” (7-18-2019)

“The volume of home maintenance and remodeling projects is declining, while spend for both is increasing, and this all signals the likelihood of a continued slowdown for the housing market.”

CoreLogic “CoreLogic Special Report: The Role of Housing in the Longest Economic Expansion” (7-18-2019)

“CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its special report evaluating ‘The Role of Housing in the Longest Economic Expansion.'” – “Moving Is the Worst, but These Tips Will Make It Way Less Stressful” (7-18-2019)

“The idea of moving can sound like a great adventure, but for most people, the actual process of moving is a giant headache, or much worse.”

Business Insider “The 10 best places in the US for first-time homebuyers to invest in real estate right now” (7-18-2019)

“The US housing market can seem highly competitive and saturated with unaffordable homes — especially for homebuyers looking to close on a house for the first time.”


California Real Estate Investor Events

Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing with OC FIBI on Tuesday, August 6.

Bruce and Aaron Norris will be hosting a Florida Boot Camp in Fort Myers Florida August 15-16.

Bruce Norris will be presenting his latest talk 10 Decisions To Make Before The Next Downturn with InvestClub on Wednesday, August 21.

Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing with WEREP on Friday, August 23.


Looking Back:

How California stacks up split into 3 states.  HUD and the Commerce Department reported housing starts decreased 12.3%.  Zillow planned on expanding the buy and sell business to Atlanta.


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