Today’s News Synopsis:
In a big story, starting tomorrow real estate will have its own sector, given by the S&P Dow Jones Indices and MSCI. The National Association of Realtors released their latest Pending Home Sales Index for July, showing pending sales at 111.3, a 1.3% increase. Prices for homes in the more expensive cities are increasing at double what is seen in less expensive markets.
In The News:
Fannie Mae – “Fannie Mae Connecticut Avenue Securities Received Additional Fitch Ratings” (8-30-16)
“Fannie Mae (FNMA/OTC) has sought and received additional ratings for a number of previously unrated Connecticut Avenue Securities™(CAS) notes as part of an ongoing effort to bring increased transparency and liquidity to these securities.”
CNBC – “Real Estate gains new market prominence starting Thursday” (8-31-16)
“At the open of trade on Thursday, real estate will be set free. The S&P Dow Jones Indices and MSCI will give real estate its own unique class, separating it from the gang within the financials sector.”
Bloomberg – “The 3 Percent Raise Is Pathetic. Why Are We Still Getting It?” (8-31-16)
“For the fourth year in a row, the annual pay raise awarded to U.S. employees will hold steady at 3 percent, according to a new study. It’s just another sign that companies have started to rethink the way they compensate employees.”
Mortgage Bankers Association – “Mortgage Applications Increase in Latest MBA Weekly Survey” (8-31-16)
“Mortgage applications increased 2.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 26, 2016.”
CNN Money – “Inequality is widening, even in real estate” (8-31-16)
“Where you live can have a big impact on your future prosperity. That’s because the country’s most expensive housing markets have appreciated at a much faster clip in the last 30 years than homes in the country’s least expensive markets.”
CNBC – “We’re actually not married to this big homeowner tax break: Mortgage Bankers CEO” (8-31-16)
“Reducing or even eliminating the mortgage interest deduction could be worth considering as part of a comprehensive reform of the American tax code, Mortgage Bankers Association CEO David Stevens told CNBC on Wednesday.”
The Street – “The Commercial Real Estate Risk Pushing the Fed to Raise Rates” (8-31-16)
“Will the risk of overheating in the U.S. commercial real estate market prompt the Federal Reserve to move more quickly on rate hikes despite lackluster economic growth?”
DS News – “Pending Home Sales Prevail Despite Tight Inventory” (8-31-16)
“Pending home sales in July swelled to their second-highest numbers in more than a decade, in the face of the tight inventory and flagging returns on existing-home sales this summer, according to the National Association of Realtors.”
New York Daily News – “Why the stock market can be a better investment than real estate” (8-31-16)
“Isn’t real estate a better investment than the stock market? After all, the perception is that real estate “appreciates steadily,” while the stock market is volatile.”
Hard Money Loan Closed
Riverside, California hard money loan closed. Real estate investor received loan for $213,750 on this single family property appraised for $374,000.
California Real Estate Investor Events
Bruce Norris will be speaking at the AOA Million Dollar Tradeshow and Landlording Conference 2016 on Tuesday, September 20.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with InvestClub for Women on Wednesday, September 21.
Bruce Norris will be presenting Stay Put, Cash Out, Or Change Seats? with InvestClub for Women and Robert Hall & Associates on September 28.
Bruce Norris will be presenting Cashing In On a Boom: Investing in Quadrant 4 at the Back Bay Conference Center on Saturday, October 8.
Bruce Norris of The Norris Group will be presenting the 9th annual I Survived Real Estate 2016 on Friday, October 21.
Image copyright source: www.flickr.com/photos/23065375@N05
Looking Back:
WalletHub had just released their latest analysis report with the housing markets showing the healthiest signs. It is expected that over a trillion dollars would be poured into the housing market over the next five years, and the majority was expected to come from: millennials. In the wake of decreasing mortgage rates, more and more people were taking advantage of refinancing their homes.
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.