Today’s News Synopsis:
New York Times is giving Brokers free listing exposure on their website. Baby boomers are downsizing in their living situation and choosing the downtown area. Brian Montgomery has been nominated by Trump to be the new head of the FHA.
In The News:
HousingWire – “Trump picks Brian Montgomery to lead FHA“ (9-13-2017)
“Back in May, HousingWire reported President Donald Trump was considering Brian Montgomery to run the Federal Housing Administration.”
CNBC – “Harvey’s hit to mortgages could be four times worse than predicted – and then there’s Irma“ (9-13-2017)
“As homeowners in Houston struggle to dry out and rebuild, they may also struggle to make payments on their mortgages.”
Mortgage Bankers Association – “MBA Releases White Paper, “CFPB 2.0: Advancing Consumer Protection“ (9-13-2017)
“The Mortgage Bankers Association (MBA) today released a new white paper, prepared for MBA by the law firm of Covington and Burling, entitled CFPB 2.0: Advancing Consumer Protection.”
The Real Deal – “Development in LA will decline over next two years: UCLA report“ (9-13-2017)
“As state lawmakers mull over a housing bill package this week, a new report highlights just how important their votes could be to Los Angeles.”
Freddie Mac – “Freddie Mac to Suspend All Evictions and Foreclosures in Hurricane Irma Major Disaster Areas“ (9-13-2017)
“Freddie Mac (OTCQB: FMCC) announced today that it is suspending all foreclosure sales through Dec. 31, 2017 in areas that the Federal Emergency Management Agency (FEMA) has declared eligible disaster areas as a result of hurricanes Harvey and Irma.”
NAHB – “Joint Employer Bill Would Provide Clarity and Certainty to Small Businesses” (9-13-2017)
“The National Association of Home Builders (NAHB) today urged Congress to pass the bipartisan Save Local Business Act, legislation that would boost housing affordability and provide small businesses certainty and predictability by clarifying under law what constitutes a joint employer.”
Inman – “The NYT gives brokers what they want: free, exclusive leads” (9-13-2017)
“Zillow and realtor.com know it and so does, apparently, the New York Times: Content is king, but when it comes to web traffic, real estate listings are the gold in the royal coffers.”
Realtors Property Resource – “Downsizing to Downtown: Boomers Hitting the Road” (9-13-2017)
“We’ve talked about Millennials seeking the Work, Live, Play mantra as they locate to communities. Ironically, Baby Boomers have similar lifestyle preferences with walkability to entertainment and amenities as their core preferences.”
Bruce Norris will be presenting his latest talk 10 Life-Changing Days of a Real Estate Investor with SJREI on Thursday, September 14.
Bruce Norris will be presenting Cashing In On A Boom up in San Jose on Saturday, September 16.
The Norris Group presents its tenth annual award-winning black tie-event I Survived Real Estate 2017 on Friday, September 22.
Looking Back:
The U.S. economy appeared to be gaining strength as household incomes were the largest since the recession in 2015 and poverty showed signs of decrease. Foreclosure rates decreased again to levels last seen before the crisis. A new bill was continuing to be pushed that would do away with Dodd-Frank.
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.