Today’s News Synopsis:

The housing market showed strong, positive signs over the summer with 76% of markets being normal or above, while Miami, Florida ranked at the bottom.  One of the reasons for weak sales in some areas despite strong demand is a lack of appraisers.  According to the latest S&P/Case-Shiller Index, gains in home prices were slower for the month of July, coming in at 5% as opposed to an expected 5.1%.

In The News:

Bloomberg – “Barrack: Rate Hike Good for Overall Real Estate Business” (9-27-16)

“Thomas Barrack, founder and executive chairman at Colony Capital, explains why an interest rate hike would benefit the real estate industry and discusses the state of the U.S. real estate market and the availability of mortgages for potential homeowners.”

CNBC – “‘Massive’ shortage of appraisers causing home sales delays” (9-27-16)

“Housing demand is rising rapidly, but a key cog in the wheel to homeownership is in deep trouble. The people most needed to close the deal are disappearing.”

Pro Teck Valuation Services – “Strong Summer Sales Make for Improved Market Conditions” (9-27-16)

“Market condition trends across the U.S. continue to improve. While almost 70% of CBSAs in the Collateral Analytics market conditions ranking were “normal” or above in July, a month later in August that number rose to over 76% — with only 1.4% coming in at “weak” or ‘distressed.'”

Bloomberg – “Americans Love This Job Market But Aren’t Keen on Spending” (9-27-16)

“By one measure, American consumers are the most confident since before the last recession. The question is whether that translates into a boost to spending.”

Mortgage Bankers Association – “MBA Statement on Freddie Mac’s Credit-Risk Transfer Offering” (9-27-16)

“David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association (MBA), issued the following statement on Freddie Mac’s new credit-risk transfer offering: (See article)”

CNBC – “US home price gains slowed to 5.0% in July: S&P/Case-Shiller” (9-27-16)

“U.S. home price gains slowed slightly in July from the previous month, with the tentative forecast of a federal interest rate hike in December confirming continued expansion in the housing sector.”

Inman – “The top 3 accounting mistakes real estate agents make” (9-27-16)

“As a real estate agent, you have a lot to juggle: crushing your commissions, generating leads and building your brand, and these are just a few of your primary concerns.”

 

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.

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