How Much Mortgage Can You Afford, Should You Afford?

Today’s News Synopsis:

Are you house poor?  The two big cities that top the list for the hottest housing markets so far this year are San Jose and Raleigh.  Early-state mortgage delinquencies increased in the wake of this past hurricane season according to CoreLogic.

In The News:

Zillow – “San Jose and Raleigh are Zillow’s Hottest Housing Markets for 2018” (1-9-2018)

“Today, Zillow announced its predictions for 2018’s hottest housing markets. Topping the list this year is Silicon Valley’s San Jose, Calif., followed by Raleigh, N.C. and Seattle.”“Bitcoin Home Buyer?  7 Houses You Can Snag Now With Cryptocurrency” (1-9-2018)

“Although it’s been around for nearly a decade, bitcoin has been buzzing over the past few months. The mysterious cryptocurrency has been the subject of a flood of coverage chronicling its every fluctuation—and there have been plenty of them.”

CoreLogic – “CoreLogic Reports Early-Stage Mortgage Delinquencies Increased Following Active Hurricane Season” (1-9-2018)

“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, 5.1 percent of mortgages were in some stage of delinquency (30 days or more past due including those in foreclosure) in October 2017.”

Bloomberg – “Tesla’s New York Gigafactory Kicks Off Solar Roof Productions” (1-9-2018)

“Tesla Inc. has kicked off production of its long-awaited electricity-producing shingles that Elon Musk says will transform the rooftop solar industry.”

HousingWire – “The Money Source and Endeavor America rebrand, plan for massive growth in 2018” (1-9-2018)

“National financial services and mortgage company The Money Source, announced it has launched a new branding campaign, laying the foundation for massive expansion plans for the next five years.”

Forbes“Slow And Steady Growth: 2018 Performance Forecast For Top 4 Commercial Real Estate Sectors” (1-9-2018)

“Following one of the longest economic expansions in U.S. history, Colliers International economists forecast 2017 was the year of the market’s peak.” – “What Is ‘House Poor’?  What It Means, and Whether You’re at Risk” (1-9-2018)

“What is “house poor”? This phrase describes home buyers who’ve purchased property they can’t easily afford—and are now paying the price, as it were.”

Country Living – “4 Kitchen Designs That Pinterest Users Are Obsessed With Right Now” (1-9-2018)

“When it comes to kitchens, 2018 is all about the year of personalisation – that’s what we revealed in our trend report of the biggest colours, materials and appliances to impact kitchen design this year.”


Hard Money Loan Closed

Winnetka, California hard money loan closed. Real estate investor received loan for $275,000 on this single family property.

Los Angeles Hard Money Loan


Bruce Norris will be presenting Stay Put or Cash Out with CVREIA TONIGHT.

Bruce Norris will be presenting Stay Put or Cash Out with Robert Hall & Associates on Wednesday, January 10.

Bruce Norris will be presenting Stay Put or Cash Out with OCREIA on Thursday, January 11.


Looking Back:

According to the latest Home Purchase Sentiment Index from Fannie Mae, housing sentiment saw a decrease for the fifth month in a row, dropping 0.5 points to 80.7.  The latest Mortgage Monitor report released on this day by Black Knight Financial Services showed the delinquency rate was not decreasing but returning to normal levels.  One real estate market expected to see a comeback this year is Dubai.


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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