Today’s News Synopsis:
According the Mortgage Bankers Association, delinquencies for commercial and multifamily properties continued to stay at low numbers. As of today, real estate now has its own sector in the Wall Street market. An area of the real estate market where more money is being spent is on private student housing.
In The News:
DS News – “Freddie Mac Sets Up Sale of Sixth STACR Pool” (9-1-16)
“Freddie Mac intends to sell its sixth offering this year of Structured Agency Credit Risk (STACR) debt notes, pending market conditions, according to a recent release from the GSE.”
Bloomberg – “The Fed Poses a Big Risk to the Emerging Market Inflow Party” (9-1-16)
“Battle-hardened emerging-market investors have seen this movie before: A U.S. Federal Reserve interest-rate hike triggers a jump in nominal local rates in emerging markets, especially those with fixed or semi-fixed exchange rate regimes.”
Mortgage Bankers Association – “Commercial/Multifamily Delinquencies Remain Low in Second Quarter” (9-1-16)
“Delinquency rates for commercial and multifamily mortgage loans remained low in the second quarter of 2016, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report.”
Fox Business – “Say Hello to Wall Street’s New Real-Estate Sector” (9-1-16)
“Real estate is movin’ on up, breaking out to a sector all its own from a position as an industry group under the financial-sector umbrella.”
CNBC – “Student housing ups the ante on amenities” (9-1-16)
“At Landmark apartments, just steps away from the main campus of the University of Maryland, upperclassman Jordan James and her mother Gia were unloading groceries into the stainless steel refrigerator in her two-bedroom unit.”
Bloomberg – “Another Sign Manhattan Real Estate Is Feeling the Pain” (9-1-16)
“Prospective buyers at one Upper East Side condo project are quietly being offered a 5 percent discount. At an almost-completed Midtown building, five-bedroom homes will be divided into smaller units. Brokers whose clients sign deals at a downtown tower before Labor Day are getting $5,000 gift cards.”
My Palm Beach Post – “Competition ramps up pressure on real estate commissions” (9-1-16)
“Among buyers and sellers of real estate, haggling over commissions has become something of the norm, and the once-standard 6 percent fee is fading.”
The Hollywood Reporter – “L.A.’s Residential Real Estate Market May Be Cooling, But by How Much?” (9-1-16)
“After years of explosive growth, Los Angeles’ residential real estate market has been exhibiting signs that it may finally start to cool down.”
Hard Money Loan Closed
Quartz Hill, California hard money loan closed. Real estate investor received loan for $240,000 on this single family property appraised for $315,000.
California Real Estate Investor Events
Bruce Norris will be speaking at the AOA Million Dollar Tradeshow and Landlording Conference 2016 on Tuesday, September 20.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with InvestClub for Women on Wednesday, September 21.
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.
Image copyright source: www.flickr.com/photos/jingdianjiaju
Looking Back:
CoreLogic reported a 6.9% increase in home prices in July. Spending on construction increased by $1,083.4, or 0.7% to its highest in seven years. The Herald Examiner building in downtown L.A., which sat unused was to be converted into different creative offices and used for multiple purposes.
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.