Norris Bruce
Dec 06, 2018

Not An Easy Task

Today’s News Synopsis:

10 Things you need to know when buying a “Hoarder House.”  Freddie Mac reported mortgage rates dropped for the first time in weeks with 30-year rates now at 4.75% and 15-year rates at 4.21%.  Home flips decreased 12% in the third quarter to their lowest in 3.5 years.

In The News:

CoreLogic – “CoreLogic Reports Homeowners with Negative Equity Declines by Only 81,000 in the Third Quarter of 2018” (12-6-2018)

“CoreLogic (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released the Home Equity Report for the third quarter of 2018.”

Freddie Mac “Mortgage Rates Pull Back” (12-6-2018)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that mortgage rates dropped after weeks of moderating.”

ATTOM Data Solutions – “U.S. Home Flips Down 12 Percent in Q3 2018 to 3.5-Year Low” (12-6-2018)

“ATTOM Data Solutions, curator of the nation’s premier property database, today released its Q3 2018 U.S. Home Flipping Report, which shows that a total of 45,901 U.S. single-family homes and condos were flipped in the third quarter of 2018, down 12 percent from a year ago to the lowest level since Q1 2015 — a 3.5-year low.”

National Mortgage News – “Home equity gains top $775B in third quarter, a two-year low” (12-6-2018)

“As home value appreciation slowed, gains in home equity for the third quarter fell to the lowest level in two years, according to CoreLogic’s homeowner equity report.”

Realtor.com – “Thank U, Next: 8 Interior Design Trends That Are So Over in 2019” (12-6-2018)

“Your home’s got style—and boy, did you work to achieve it. You followed design blogs, pored over Pinterest boards, and chose accent pieces and colors to add just the right note. That is, you did five years ago. Or 10.”

MarketWatch “Fewer Americans are flipping homes – and that’s a bad sign for the housing market” (12-6-2018)

“While TV shows like “Fixer Upper” and “Flip or Flop” rule HGTV’s airwaves, few Americans are actually getting in on the home-flipping act these days.”

Apartment Therapy “10 Things You Need to Know When Buying a ‘Hoarder House'” (12-6-2018)

“Boulder, Colorado, is, for the uninitiated, a land of spandex-clad athletes driving Subarus with Namaste bumper stickers into the driveways of their $1.2 million single-family homes.”

HousingWire – “CBRE: Here’s where multifamily investors should be putting their money in 2019” (12-6-2018)

“While most of the market attention tends to be focused on Class A multifamily buildings, new research from CBRE suggests that there is another class of multifamily housing that represents a much larger opportunity for investors – workforce housing.”

 

California Real Estate Investor Events

Bruce Norris will be presenting his latest talk 10 Decisions To Make Before The Next Downturn with SDCIA on Tuesday, December 11.

Bruce Norris will be presenting his latest talk 10 Decisions To Make Before The Next Downturn with Prosperity Through Real Estate on Wednesday, January 2.

Aaron Norris will be presenting his latest talk Technology Trends and Effects on Real Estate with WEREP on Friday, January 4.

Bruce Norris will be presenting his latest talk 10 Decisions To Make Before The Next Downturn with Robert Hall & Associates on Wednesday, January 9.

 

Looking Back:

What did the new Tax Plan mean to Real Estate Investors?  Commercial real estate transactions increased in the third quarter for the second time in a row according to research from Ten-X.  Homelessness increased for the first time in seven years as a result of the West Coast Affordable Housing Crisis.

 

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