Today’s News Synopsis:
Mortgage Loan Performance Continues to Improve According to CoreLogic. Realtor.com’s latest list shows the top cities where you can get the most out of your quarter-million dollars. Research from different studies shows one factor that could have an effect on your mental health is actually the location where you live.
In The News:
“CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report which shows that, nationally, 5 percent of mortgages were delinquent by 30 days or more (including those in foreclosure) in February 2017.”
CNBC – “Can where you live affect your depression risk?” (5-9-2017)
“Location may be the prime directive for real estate, but is it also a factor in mental health? The answer is maybe.”
Realtor.com – “From Coast to Coast, Where a Quarter-Million Bucks Buys You the Most” (5-9-2017)
“Housing market disparities come into clearer focus when we set our price gauge at a quarter-million dollars. At that price—which is close to the national median—home buyers can score huge, move-in ready homes in many parts of the country.”
Market Watch – “Fed’s Rosengren warns that Fannie, Freddie reform could roil commercial real-estate market” (5-9-2017)
“Efforts to overhaul Fannie Mae and Freddie Mac could lead to “a potential and significant shock” to the commercial real-estate sector, said Boston Federal Reserve President Eric Rosengren on Tuesday.”
CNBC – “The latest mortgage perk for millennials: Reward points” (5-9-2017)
“Your mortgage may come with a bonus: credit-card reward points. Chase recently announced it will give 100,000 reward points, worth up to $1,500, to existing credit-card customers who take out a home loan with the bank between now and Aug. 6.”
Wealth Management – “FUND FLOWS: Investors Bail on Real Estate, Commodities Funds” (5-9-2017)
“Energy, technology and consumer goods the only sectors to see inflows during the first week of May; investors continue to purge commodities, health care and real estate.”
Bloomberg – “Real-Estate Agency Reported to Shutter 87 Outlets in Beijing” (5-9-2017)
“One of China’s biggest real estate agencies, Beijing Homelink Real Estate Brokerage Co., closed 87 outlets in Beijing, according to a report in local media.”
Seeking Alpha – “REIT Earnings Report Card” (5-9-2017)
“Q1 earnings were generally better-than-expected across the real estate sector. Roughly 45% of REITs exceeded consensus expectations, while 40% met, and just 15% missed.”
Hard Money Loan Closed
San Bernardino, California hard money loan closed. Real estate investor received loan for $150,000 on this single family property appraised for $272,000.
Bruce Norris will be speaking at the AOA “Million Dollar” Trade Show & Landlording Conference 2017 on Wednesday, May 24.
Bruce Norris will be speaking at The Southern California Chapter of the Appraisal Institute’s 20th Annual
Inland Empire Market Trends on Thursday, June 1.
Interest rates for Fannie Mae and Freddie Mac mortgage modifications were expected to be lowered again to 3.624%, their lowest on record. CoreLogic reported a drop in distressed home sales by 0.4% month-over-month and 2.9% year-over-year in February. In an interesting story, the housing market was beginning to balance out with the slowdown in hot markets and upbeat in slow markets.
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.