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The Norris Group Real Estate News Roundup 2/17/10

CBIA announced that housing affordability has decreased in 22 of California’s 28 metropolitan areas. The Commerce Department reports that housing and apartment construction increased by 2.8 percent last month. According to SFAR, there is a 3.5 month supply of housing inventory in the San Francisco market. A survey shows that large investment companies are spending more on REIT investments.

The Norris Group Real Estate News Roundup 2/4/10

Marcus & Millichap annual apartment report places San Diego in second place for stability and possible growth in 2010. Statistics from MDA DataQuick show that 18,621 California homes sold for over 1 million dollars last year. Freddie Mac reports that the rate for 30-year fixed rate mortgages increased to 5.01 percent. PMI predicts that home values are near to reaching the bottom.

The Norris Group Real Estate News Roundup 1/26/10

CBIA reports that 36,209 building permits were issued in California last year. The 30-year mortgage rate decreased by 0.4 percent in December. DBRS expects loan servicers to allow more principal reductions as more attempted modifications fail. According to RealFacts, the average Orange County apartment rent fell 6.7% during the 4th quarter of 2009.

The Norris Group Real Estate News Roundup 1/25/10

According to the NAR, existing home sales decreased by 16.7 percent in December. The HVCC repeal bill, named HR 1728, has passed in the House of Representatvies and is waiting approval from Congress. The FDIC took over 5 more failed banks last week. FTN Financial reports that declining home values have had little effect on the nation’s economic recovery.

The Norris Group Real Estate News Roundup 11/23/09

The NAR reports that existing-home sales increased by 10.1 percent in October. Statistics show that California workers, who earn the national median income, can afford 59.1 percent of the new and existing homes during the 3rd quarter. According to the MBA, multifamily lenders provided $88 billion in new financing for apartment buildings with 5 or more units during 2008.

The Norris Group Real Estate News Roundup 10/6/09

Reis Inc. reports that the U.S. apartment vacancy rate rose to 7.8 percent from the previous season. The US Treasury Department increased the cap of HAMP by $4.7 billion after previously cutting the cap down. Hayman Advisors LP recently bought mortgage bonds worth 50 percent of their assets. According to statistics from Altera Real Estate, the average home in Laguna Beach will currently take 11.03 months to sell.

Tony Alvarez

REO Mentor Tony Alvarez #16

Join Bruce and investor/appraiser Tony Alvarez as they further discuss how Tony works with REO agents.

Tony Alvarez has been a successful Real Estate Investor and Certified General Appraiser in the Southern California area since 1981. Tony has bought, sold and rented hundreds of properties from vacant land to condos, single family residences, and apartments. More recently he is investing in commercial developments in Arizona, Nevada, and Southern California.

Tony Alvarez

REO Mentor Tony Alvarez #15

Join Bruce and investor/appraiser Tony Alvarez as they discuss how Tony got started in real estate investing and how learned from his own foreclosure experience to where he is today.

Tony Alvarez has been a successful Real Estate Investor and Certified General Appraiser in the Southern California area since 1981. Tony has bought, sold and rented hundreds of properties from vacant land to condos, single family residences, and apartments. More recently he is investing in commercial developments in Arizona, Nevada, and Southern California.

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