Today’s News Synopsis:
Want to buy a house for $1.12? Why should you not get a mortgage online? The newest California housing bill could spell big changes for suburbs in the wealthy Bay Area.
In The News:
Zillow – “Zillow Now Buying and Selling Homes in the Twin Cities” (5-13-2019)
“Starting today, home sellers in Minneapolis–Saint Paul can use Zillow Offers™ to request a no-obligation cash offer from Zillow to buy their home.”
Forbes – “Why Hybrid Estate Agencies Are The Future Of The Industry” (5-13-2019)
“When online estate agencies appeared on the property scene around a decade ago, many thought the industry was about to change for good.”
Realtor.com – “4 Good Reasons to Not Get a Mortgage Online” (5-13-2019)
“Applying for a mortgage these days can be accomplished entirely online—no need to schlep to a bank and suffer hand cramps filling out paperwork.”
Wall Street Journal – “Fannie and Freddie Back More Mortgages of Those Deeply in Debt” (5-13-2019)
“The gatekeepers of the American mortgage market are increasingly backing loans to borrowers who have heavy debt loads, highlighting questions about mortgage risk as policymakers debate ways to change the system.”
San Francisco Chronicle – “Wealthy Bay Area suburbs could have a whole new look under California housing bill” (5-13-2019)
“When Paul Wickboldt moved to the Bay Area from Boston more than two decades ago, he settled in Walnut Creek for the same reasons many families choose the suburbs: good public schools, safety, a backyard for the kids to play in, and the pleasure of knowing his neighbors.”
Trulia – “The IPO Wave of 2019 Won’t Upend the Bay Area Housing Market” (5-13-2019)
“The impending wave of San Francisco tech IPOs is substantial and will influence San Francisco real estate, but the hype about its impact is likely overblown. In particular, despite being centered on San Francisco instead of Silicon Valley, its impact is still likely to diffuse throughout the broader Bay Area.”
The Sacramento Bee – “Zillow can soon buy your Sacramento home with a click of a mouse. Will you get a fair price?” (5-13-2019)
“Are you willing to sell your home online, with a click of a mouse? Millions of Californians soon will have that chance.”
Money – “This Italian Village Is Selling Fixer-Uppers for Less Than $2” (5-13-2019)
“A rustic Italian town is selling houses for one euro — as long as you fix it up. Mussomeli, a hilly village near the center of Sicily, is one of the latest Italian locales to offer fixer-upper homes at apparently bargain basement prices, News.com.au reports.”
Bruce Norris will be presenting 10 Decisions To Make Before The Next Downturn with LA REIA on Tuesday, May 14.
Bruce Norris will be presenting a Real Estate Market Update with SRCAR on Tuesday, May 21.
Bruce and Aaron Norris will be speaking at the NSDREI 15th Anniversary Dinner Party on Tuesday, June 18.
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