Today’s News Synopsis:
What are 7 good questions to ask to guide investors to their ideal property? The NAR reported a 3.2% decrease in existing-home sales in January. However, this data also showed the reason for this is not a lack of inventory, but rather because the main group of people able to afford a home right now is the wealthy.
In The News:
Bloomberg – “Four Charts: Home Depot Benefits From the Housing Market Rebound” (2-21-2018)
“The U.S. housing market is hot again, more than a decade after the last great boom, and the world’s largest home-improvement chain Home Depot Inc. is benefiting.”
Zillow – “Experts More Pessimistic about U.S. Housing Market Following New Tax Laws” (2-21-2018)
“New changes to U.S. tax laws led 41 percent of survey respondents to lower their long-term expectations for the U.S. housing market, according to the 2018 Q1 Zillow Home Price Expectations Survey.”
Mortgage Bankers Association – “Mortgage Applications Decrease in Latest MBA Weekly Survey” (2-21-2018)
“Mortgage applications decreased 6.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 16, 2018.”
HousingWire – “NAMB seeks to ban credit bureau sales of trigger leads” (2-21-2018)
“The National Association of Mortgage Brokers, an association that represents the interests of individual mortgage loan originators and small to mid-size mortgage businesses, announced it is seeking to ban the sale of trigger leads.”
National Association of Realtors – “Existing-Home Sales Slip 3.2 Percent in January” (2-21-2018)
“Existing-home sales slumped for the second consecutive month in January and experienced their largest decline on an annual basis in over three years, according to the National Association of Realtors.”
Inman – “7 questions to guide investors toward their ideal property” (2-21-2018)
“Real estate agents thrive on finding the perfect properties for their clients. If you’re working with an investor, a good recommendation could lead to more business in the future and more recommendations to their peers.”
“JPMorgan Chase plans to tear down its headquarters at 270 Park Avenue and build a new, 70-story office tower in its place.”
Realtor.com – “The Year’s 7 Hottest Living Room Design Trends Are Making Us Feel Alive Again” (2-21-2018)
“If the kitchen is the heart of the home, the living room could be the brain. It’s the nerve center for our daily functions—where we chill with a glass of wine after a long day, where our kids do their homework, where we entertain next-door neighbors and long-lost friends. It’s the place where we live, of course.”
Hard Money Loan Closed
Tarzana, California hard money loan closed. Real estate investor received loan for $355,000 on this single family property appraised for $514,000.
Bruce Norris will be speaking at the 2018 Real Estate Market Forecast in Ontario, California on Wednesday, March 7.
Bruce Norris will be presenting Stay Put or Cash Out with NorcalREIA on Wednesday, March 14.
Bruce Norris will be presenting Cashing In On A Boom: Investing In Quadrant 4 With Bruce Norris in Sacramento on Saturday, March 17.
The latest S & P and Dow Jones Indices showed default rates for bank cards were at their highest in almost 4 years in January, up three basis points from 0.92%. Several holders of hedge funds were unsuccessful in their attempt to have a ruling overturned that would allow them to sue the government over changes in investments and dividends following the GSE’s bailout. Freddie Mac cited challenges in their latest insight report, specifically over the aging population who want to stay in their home but could not have it retrofitted for their changing needs.
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.