OREO?

Today’s News Synopsis:

Do you know what an REO is?  Rent price growth was stronger in March according to CoreLogic.  Existing-home sales decreased 0.4% last month according to the National Association of Realtors.

In The News:

CoreLogic “CoreLogic Reports Strong Rent Price Growth in March as Unemployment Reaches a 50-Year Low” (5-21-2019)

“CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and among 20 metropolitan areas.”

Forbes “Homes Are Rapidly Going To The Dogs” (5-21-2019)

“We love our pets and it shows. According to new research from Rover, a Seattle-based pet sitting and dog walking company, 60 percent of U.S. households have dogs, and spending on all pets totaled $72.1 billion in 2018, an 8.1 percent increase in just two years.”

Fortune “Risky Business?  New Report Says Banks Are Holding More Real Estate Debt Than Thought” (5-21-2019)

“Commercial real estate lenders may have their hands full in the event of a recession, according to a new report.”

National Association of Realtors – “Existing-Home Sales Inch Back 0.4% in April” (5-21-2019)

“Existing-home sales saw a minor decline in April, continuing March’s drop in sales, according to the National Association of Realtors.”

Inman “Federal Housing Administration seeks to loosen condo financing: NAR” (5-21-2019)

“HUD deputy secretary told National Association of Realtors reps that long-anticipated reform is within sight.”

ATTOM Data Solutions “Government Agencies Use Property Data to Enhance Urban Planning” (5-21-2019)

“Government bodies work hard to meet the needs of their constituents through a well-designed urban environment. City planning must meet the health, economic, and social needs of the population.”

Politico “Ben Carson confuses a real-estate term and a cookie” (5-21-2019)

“Housing and Urban Development Secretary Ben Carson tussled awkwardly with freshman Rep. Katie Porter (D-Calif.) at a hearing on Tuesday over HUD real estate owned — or REO — homes, at one point asking if she was referring to an ‘Oreo.'”

USA Today “More baby boomers stay in their homes as they reach retirement, skipping downsizing” (5-21-2019)

“It’s always been a sort of final chapter of the American dream: Get married and have kids. Buy a house. Move to a bigger house. Downsize to a smaller one.”

 

Hard Money Loan Closed

Victorville, California hard money loan closed. Real estate investor received loan for $168,000 on this single family property.

Victorville Hard Money Loan

 

California Real Estate Investor Events

Bruce and Aaron Norris will be speaking at the NSDREI 15th Anniversary Dinner Party on Tuesday, June 18.

Bruce and Aaron Norris will be speaking at the ThinkRealty Irvine Conference & Expo 2019 on Saturday, July 13.

Bruce Norris will be presenting his latest talk 10 Decisions to Make Before The Next Downturn with BIEREIC on Wednesday, September 18.

 

Looking Back:

What was one of the hottest new computer games? Houseflipper!  The government was looking at up to five housing measures to vote on in California by November.  The latest data from the Census Bureau showed a decrease in population in the more heavily-priced housing markets.

 

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