Norris Bruce
Sep 13, 2018

Willing To Trade Location And Ease of Commute For Space and Amenities

Today’s News Synopsis:

Tops spots for Gen Z home buyers.  Mortgage rates increased for the third week in a row with 30-year rates now at 4.6% and 15-year rates at 4.06%.  Home loan originations decreased to their lowest in four years in the second quarter, down 16% from the previous quarter and 27% from last year.

In The News:

ThinkRealty – “Sellers with Children Usually More Motivated to Sell” (9-13-2018)

“About one in every four home-sellers with children describe their need to sell as “very urgent.” This is compared to about one in seven homeowners without children at home.”

ATTOM Data Solutions – “U.S. Home Loan Originations Drop to Four-Year Low in Q2 2018” (9-13-2018)

“ATTOM Data Solutions, curator of the nation’s premier property database, today released its Q2 2018 U.S. Residential Property Loan Origination Report, which shows that more than 1.5 million (1,527,433) loans secured by residential property (1 to 4 units) were originated in Q2 2018, down 16 percent from the previous quarter and down 27 percent from a year ago to the lowest level since Q1 2014, a more than four-year low.”

CoreLogic “CoreLogic Reports a 12.4 Percent Year-Over-Year Increase in Mortgage Fraud Risk For The Second Quarter fo 2018” (9-13-2018)

“CoreLogic (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its latest Mortgage Fraud Report. The report shows a 12.4 percent year-over-year increase in fraud risk at the end of the second quarter, as measured by the CoreLogic Mortgage Application Fraud Risk Index.”

Zillow – “A Decade After Housing Bust, Recovery is a Story of Location” (9-13-2018)

“A decade after the collapse of the housing market and start of the Great Recession, home values have more than recovered in most of the nation’s largest markets, a Zillow® analysis shows. The markets with the highest gains above the mid-2000s bubble are primarily in the West and Southwest.”

Freddie Mac – “Mortgage Rates Rise for Third Straight Week” (9-13-2018)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS®), showing that mortgage rates jumped over the past week to a level not seen in over a month.”

The Mortgage Reports – “The top spots for Generation Z home buyers” (9-13-2018)

“It looks like the suburbs are getting a serious dose of growth in the coming years. According to a new analysis, a whopping 60 percent of Generation Z prefer suburban living — and 83 percent of that cohort plans to buy a home in the next five years.”

New York Times – “The Best (and Worst) Places to Raise Children” (9-13-2018)

“Which large American cities are the most family friendly? Generally speaking, according to a recent study by the rental listings site Zumper, you are probably better off living in the Midwest or the South if you have children.”

Investopedia “How the Financial Crisis Affected Millennials” (9-13-2018)

“With both the stock market and housing prices in record territory, it’s easy to look back at the Great Recession as little more than an unhappy memory.”

 

California Real Estate Investor Events

Bruce Norris will be speaking at the Stay Put or Cash Out with SJREI TONIGHT.

Bruce Norris will be giving a Market Update with the Chino Valley Real Estate Professionals on Friday, Septemeber 21.

The Norris Group will be presenting its 11th annual award-winning black-tie event I Survived Real Estate 2018 on Friday, September 28.

 

Looking Back:

New York Times was giving Brokers free listing exposure on their website.  Baby boomers were downsizing in their living situation and choosing the downtown area.  Brian Montgomery was nominated by Trump to be the new head of the FHA.

 

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The Norris Group

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