Today’s News Synopsis:
Home prices in the U.S. increased 6.9% according to CoreLogic’s latest report. Fannie Mae reported an all time-high for consumer confidence, which increased by 5.6 percentage points to 88.3. On this note, the group that is helping boost confidence in the housing market, even in the midst of high prices, is the millennials.
In The News:
CoreLogic – “CoreLogic US Home Price Report Shows Prices Up 6.9 Percent in January 2017” (3-7-2017)
“CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its CoreLogic Home Price Index (HPI™) and HPI Forecast™ for January 2017 which shows home prices are up both year over year and month over month.”
CNBC – “Millennials drive housing confidence higher, despite red-hot prices” (3-7-2017)
“Both buyers and sellers alike are feeling very good about the housing market this spring, even as home values hit new highs and mortgage rates move up.”
Fannie Mae – “Consumer Confidence in Housing Hits All-Time High” (3-7-2017)
“The Fannie Mae Home Purchase Sentiment Index® (HPSI) increased by 5.6 percentage points in February to 88.3, a new all-time high.”
Zillow – “Q4 2016 Negative Equity Report: Improvement Continues, But at a Much Slower Rate” (3-7-2017)
“The annual pace at which negative equity receded slowed dramatically in 2016, further proof that even as the housing market continues to put the boom and bust behind it, some scars will take a lot longer to heal.”
DS News – “Renewal of Urban Areas Displacing Low-Income Residents” (3-7-2017)
“As cities continue to grow in number of population and income, housing becomes scarce. This trend contributes to the practice of property owners remodeling or completely tearing down older buildings to build newer, more modern dwellings.”
rdnews Now – “Chinese buyers want Canadian real estate for educational reasons: study” (3-7-2017)
“TORONTO — The top reason why foreign buyers from China want to get into the Canadian housing market is education, not investment, according to data from a popular global real estate listings website.”
Hard Money Loan Closed
Hemet, California hard money loan closed. Real estate investor received loan for $105,000 on this single family property.
Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor at NORCALREIA on Wednesday, March 8.
Aaron Norris will be presenting 2 Major Trends For Marketing Dominance in 2017 with OCREIA on Thursday, March 9.
Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor with LA South REIA on Monday, April 10.
Image copyright source: www.flickr.com/photos/pagedooley and www.flickr.com/photos/itupictures
Looking Back:
Prices on commercial properties in the U.S. decreased by 0.3% in January for the first time since 2010 according to the latest Moody’s Price Index. Realtor.com released their list of the top ten places to live that were both up to date and affordable. Mortgage lenders in Wisconsin were waiting to hear if the State Senate would pass a new bill that would not require them to sell zombie 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.