Norris Bruce
Oct 15, 2019

Where Are Buyers Cashing In?

Today’s News Synopsis:

Top 10 US flipping Markets.  CoreLogic reported a steady rental market as people are still hesitant to buy.  The housing market is showing the red flags of another recession.

In The News:

Zillow “From Bay Area Condos to Texas Mansions: What $1 Million Gets You in Today’s Housing Market” (10-15-2019)

“The typical $1 million home in the U.S. is a detached, single-family house that’s about 2,200 square feet with four bedrooms and two-and-a-half bathrooms, according to a new Zillow® analysis.”

HousingWire “Housing market flashing recession signal” (10-15-2019)

“The housing market is signaling there will be an economic recession by the 2020 election, according to Benn Steil, director of international economics at the Council on Foreign Relations.”

USA Today “Should your real estate agent give you referrals when you’re buying or selling a home?” (10-15-2019)

“In the pressure cooker of home sales, it may seem easier to pick a real estate professional with a referral network of other pros you’ll need.”

National Association of Realtors “Locations Close to Public Transit Boost Residential, Commercial Real Estate Values” (10-15-2019)

“Neighborhoods located within a half-mile of public transit services outperformed those in areas farther from public transit based on a number of factors, according to a report released today by the American Public Transportation Association and the National Association of Realtors.”

CoreLogic “CoreLogic Reports Single-Family Rental Market Steadying as Concerns for Home-Buying Affordability Linger” (10-15-2019)

“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.”

Chron “Skip the home showings, keep the agent: Brokerages, iBuyers team up” (10-15-2019)

“Houston real estate brokerage Gary Greene launched a service last week that allows clients to compare offers from iBuyers, the tech-centric companies that buy houses directly from homeowners who want to avoid the traditional listing process.”

SF Gate “Where Buyers Are Cashing In!  The Top 10 U.S. Markets for Flipping” (10-15-2019)

“The realtor.com economics team found the real estate markets with the highest percentage of home sales to investors looking for flips and rental properties.”

Inman “Opendoor needs agents more than agents need Opendoor” (10-15-2019)

“Opendoor and its cast of clones have put one more nail in the coffin of traditional agency.”

 

California Real Estate Investor Events

Bruce Norris will be presenting 10 Decisions to Make Before The Next Downturn with KW Corona on Wednesday, October 16.

The Norris Group will be presenting its 9th annual Cutting-Edge Financial Tactics Brunch on Saturday, October 19.

Bruce Norris will be presenting 10 Decisions to Make Before The Next Downturn with the South OC REI Club on Wednesday, October 30.

 

Looking Back:

Poll revealed the most annoying neighbors in America.  Where were the top ten places in the U.S. where you could experience a part of history in where you live?  CoreLogic released their latest HPI Forecast Validation report, comparing its 12-month CoreLogic HPI Forecast to the actual CoreLogic HPI Index.

 

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