Today’s News Synopsis:
Zillow’s latest report showed your home could appreciate better if you live near a natural food store such as Whole Foods or Trader Joe’s. Mortgage credit risk increased in the first quarter by 3. points to 105.6 according to CoreLogic. Real estate transactions involving commercial properties decreased drastically in the first quarter after having seen growth for two straight quarters.
In The News:
CoreLogic – “CoreLogic Reports Mortgage Credit Risk Edges Up Slightly” (6-20-2017)
“CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its Q1 2017 CoreLogic Housing Credit Index which measures trends in six home mortgage credit risk attributes.”
Mortgage Professional America – “Sharp decline in commercial real estate transactions” (6-20-2017)
“Following two straight quarters of growth, investment activity in the US commercial real estate market saw a decline in the first quarter of 2017.”
DS News – “Natural Food Stores Increase Home Appreciation” (6-20-2017)
“As real estate agents say, “location, location, location”—and that means if you’re located near a Whole Foods or Trader Joe’s, according to research from Zillow.”
Bloomberg – “Amazon Has at Least One Fed Official Rethinking Inflation” (6-20-2017)
“News that rocked the retail world last week is coming at just the wrong time for U.S. central bankers already puzzling over why inflation is conspicuously absent.”
Mortgage Professional America – “Senate looks into mortgage settlement ‘slush fund'” (6-20-2017)
“The Department of Justice under President Donald Trump may have halted the channeling of monies from an alleged “slush fund” but the Senate wants more answers about how mortgage settlement funds from behemoth banks were used under the Obama administration.”
Realtor.com – “How Much Are Mortgage Fees? The Costs That Come With Your Loan” (6-20-2017)
“When shopping for a home, it seems like there’s something to pay for at every step of the way. To get your mortgage approved—thereby allowing you to actually buy your house—you’ll have to pay mortgage fees.”
Bloomberg – “Millennials Are Helping America Save More Money” (6-20-2017)
“After almost a decade, Americans may finally be turning the corner on saving money. More than 30 percent of them say they have enough tucked away to cover six months’ worth of expenses—a seven-year high for this measure of financial calamity preparedness, a financial planning favorite.”
Bruce Norris will be speaking at the NSDREI 13th Anniversary Dinner Party TONIGHT.
Bruce Norris will be presenting his latest talk 10 Life-Changing Days of a Real Estate Investor with the South Orange County Real Estate
Club on Thursday, June 22.
Bruce Norris will be speaking at An Intimate Evening with Bruce Norris at Prosperity Through Real Estate on Tuesday, July 11.
Looking Back:
HUD and the US Commerce Department said housing starts remained relatively the same in May, but overall starts continued to show positivity and seemed to be on an upward trend. Freddie Mac transferred $650 of credit risk to private investors and was able to do more with this due to the increasing number of private investors. Several banks were expected to undergo stress tests again to see how they would hold up under economic stress.
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.