Today’s News Synopsis:
The Lender Processing Services reported home prices increased month-over-month in March by 1.4% and are now at their highest since March 2006. 10-year notes are under performing where they should be, although this may be positive for investors looking to enter the market. LPS is being purchased by Fidelity National Financial for a price of $2.9 billion.
In The News:
Housing Wire – “10-year Treasury yields offer relative value for investors: RBS” (5-28-13)
“Investors should look to purchasing 10-year Treasury notes compared to 15-year paper since 10-year paper has underperformed in an environment where they should be outperforming, analysts claim. This particular trend may create a nice entry-point for investors, the same report alleges.”
DS News – “Fidelity National Financial Agrees to Purchase LPS for $2.9B” (5-28-13)
“Fidelity National Financial, Inc. (FNF), has entered into an agreement to acquire Lender Processing Services, Inc. (LPS), the Jacksonville, Florida-based companies announced jointly.”
Housing Wire – “LPS home prices rise 1.4%” (5-28-13)
“Home prices in the U.S. continued to increase from February to March, up 1.4% from the previous home index report, and up 7.6% from one-year prior, Lender Processing Services reported in its March U.S. Home Price Index report.”
DS News – “Incorrect, Outdated Information Most Common Issue on Credit Reports” (5-28-13)
“While 22 percent of Americans admitted they have never checked their credit report, nearly a quarter also said they have encountered issues with their credit report, with incorrect or outdated negative marks leading as the main type of problem, according to a recent FindLaw.com survey.”
Realty Times – “National Housing Recovery Loses Distressed Sales, Gains Inventory, Sustainability” (5-28-13)
“Increased home sales and booming prices are both great news from the housing sector, but even better news reveals the housing recovery is not only gaining speed, but it’s also returning to a level of sustainable normality.”
Housing Wire – “RMBS servicers shift focus to short sales” (5-28-13)
“For the past several months, residential mortgage-backed securities servicers underwent a seachange for underperforming residential loans, analysts claim.”
Bloomberg – “Home Prices in U.S. Rise by Most Since 2006 in March” (5-28-13)
“Home prices rose in the 12 months through March by the most in seven years as the recovery in residential real estate gained momentum. The S&P/Case-Shiller index of property values increased 10.9 percent from March 2012, the biggest 12-month gain since April 2006, after advancing 9.4 percent in February, a report showed today in New York.”
Hard Money Loan Closed
Moreno Valley, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $113,000 on a 3 bedroom, 2 bathroom home appraised for $163,000.
Bruce Norris of The Norris Group will be presenting How to Make a Million in the Next 24 Months in Orange on Saturday, June 1, 2013.
Bruce Norris of The Norris Group will be presenting his Free Pre-Event Webinar for California Comeback 2: Fast, Furious & Dangerous with Chino Valley on Friday, June 7, 2013.
Bruce Norris of The Norris Group will be speaking at the Cutting Edge Financial Tactics Brunch in Costa Mesa on Saturday, June 8, 2013.
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 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.