tmp_fa42r9p
Apply Now

San Francisco Residents Getting Quite a Shock From Leaning Millennium Tower

Millennium

San Francisco Residents Getting Quite a Shock From Leaning Millennium Tower

[social_share_link]

San Francisco Residents Getting Quite a Shock From Leaning Millennium Tower

Sources:


Today’s News Synopsis:

Aaron Norris of the Norris Group gives this week’s Norris Group real estate headline roundup.  San Francisco residents are getting quite the shock from one of their buildings that has been leaning since its opening in 2009 and already fallen 16 inches.  Zillow reported a 0.4% increase in home values month-over-month and 5% year-over-year.  US real estate continues to be a hot spot for Chinese investors.

In The News:

Wall Street Journal – “In San Francisco, Alarm Over a Leaning Luxury Condo Tower” (9-22-16)

“The luxury condo tower rises above one of the city’s trendiest downtown neighborhoods in 58 gleaming stories, minus about 16 inches of its original height and tilting slightly northwest.”

Inman – “Is a lack of appraisers causing real estate closing delays?” (9-23-16)

“Have you noticed a sudden shift in the amount of time it takes a house to get to close?  It’s not your imagination: New data from Campbell/Inside Mortgage Finance indicates that the share of home purchases that closed on time has declined recently.”

Bloomberg – “Wells Fargo Sued Over Firings for Missed Account Quotas” (9-23-16)

“Two Wells Fargo & Co. bankers accused the company in a lawsuit of imposing quotas on employees to open unauthorized accounts and then firing or demoting them for missing the targets.”

Mortgage Bankers Association – “MBA Task Force Proposes Loan Modification Program to Provide At-Risk Homeowners Payment Relief” (9-23-16)

“The Mortgage Bankers Association today unveiled, One Mod: Principles for Post-HAMP Loan Modifications, which is a proposed successor program to the Home Affordable Modification Program (HAMP).”

Federal News Radio – “Federal real estate portfolio needs better organization, less red tape” (9-23-16)

“The federal government reduced its facilities footprint the equivalent of three Pentagon buildings in the past five years, and it’s looking to double that amount of saved space through fiscal 2020.”

DS News – “Home Values Rise Higher in August” (9-23-16)

“August in the housing market remained steady as warm breeze, with inventory tight and house prices growing slowly, Zillow reported Thursday.”

Real Estate Weekly – “Chinese investors still hungry for US real estate” (9-23-16)

“The U.S. real estate market has become a favorite destination for Chinese outbound capital in recent years, reaching an estimated $10 billion, with approximately $4.37 billion being invested in commercial properties in 2015, according to KPMG’s China Inbound Investing in U.S. Real Estate – 2016 Semi-Annual Update report.”

 

 

 

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.

 

Looking Back:

The Mortgage Bankers Association reported a 13.9% increase in mortgage applications, a high increase that came with the decrease in mortgage rates.  The amount of equity in seniors’ homes reached its highest in nine years at 195.29.  In a follow up from a previous story on home values, almost 25% of homes in the US showed a loss of home value.

 

Related Posts

[related_posts_past_guest]
Scroll to Top