Today’s News Synopsis:
When will we hit the bottom of the market? Realtor.com lists the 10 cities where listings dropped the most. One place that looks to be at a “turning point” is Silicon Valley, where construction is picking up again.
In The News:
Yahoo Finance – “The housing market ‘bottom is pretty much now’: Zillow economist” (5-5-2020)
“For housing, the future looks bright. Early metrics suggest that the housing market has turned a corner from mid-April lows, and Zillow predicts a steady recovery for U.S. home sales.”
“Wells Fargo is the latest big bank to join a short but potentially growing list of lenders that are hitting the pause button on applications for new home equity lines of credit amid the escalating economic crisis sparked by the coronavirus pandemic.”
Realtor.com – “Where the Market Has Stalled: 10 Cities With the Steepest Drops in New Listings” (5-5-2020)
“Springtime in the United States looks a whole lot different this year. No kids playing on playgrounds or filing into classrooms.”
HousingWire – “Mortgage and real estate innovation in the time of COVID-19” (5-5-2020)
“As conditions under COVID-19 change rapidly, everyone from fintech companies and lenders to local governments and real estate professionals are adapting to serve homeowners during this time, and HousingWire is covering it all.”
Apartment Therapy – “7 Companies That Are Donating to Relief Efforts In Creative Ways” (5-5-2020)
“During these difficult times, home brands are doing their part to support healthcare workers and hospitals around the world.”
ATTOM Data Solutions – “Annual Analysis Reveals New Best Days of the Year to Sell A Home” (5-5-2020)
“ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released a new analysis of the best days of the year to sell a home, which shows that 11 days of the year offer seller premiums of 10 percent or more – eight of which occur in the Summer months of June, while three occur in May.”
San Jose Spotlight – “Silicon Valley real estate at ‘a turning point’ as construction resumes” (5-5-2020)
“The worldwide coronavirus pandemic has been felt in all industries, but one of the most stark representations of the virus’ impact is in the empty office buildings and rolling tech campuses in busy, work-obsessed Silicon Valley.”
“April is usually one of the busiest months kicking off the spring housing market. But the coronavirus is hurting the number of new home listings..”
“College is going to look very different in the fall semester — if college reopens in the fall.”
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With NorcalREIA on Wednesday, June 10.
Bruce and Aaron Norris will be presenting Keep-Sell-Create in Sacramento on Saturday, June 20.
The Norris Group presents its award-winning black-tie event I Survived Real Estate 2020 on Friday, September 18.
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