Today’s News Synopsis:
Apartments in Dubai can now be bought using bitcoin. Sold homes that received the best return investments were located along the West Coast. Freddie Mac reported in their latest survey that the industry that is continuing to see growth in the market is multifamily.
In The News:
Zillow – “West Coast Home Sellers Cashing In the Most on Record Home Values” (9-6-2017)
“Holding onto your home for a long period of time over the last decade meant a serious return on investment, especially in some of the nation’s hottest housing markets.”
Freddie Mac – “Multifamily Industry Sees Continued Market Growth, Increased Affordability Challenges” (9-6-2017)
“According to a new survey commissioned by Freddie Mac (OTCQB: FMCC), a significant majority of the multifamily industry believes the rental housing market will continue to grow, fueled by increasing demand and a growing population.”
Realtor.com – “Are Property Taxes Lower on Townhouses and Condos?” (9-6-2017)
“If you’re planning on buying a home, you might wonder whether property taxes are lower on townhouses and condos. It seems plausible enough: Smaller home, smaller tax bill, right?”
Seeking Alpha – “Are Prisons Real Estate?” (9-6-2017)
“Are prisons, golf courses, cell towers and billboards considered real estate? Many REIT ETF investors may be surprised to discover what they’re actually investing in.”
Inman – “$128M acquisition puts Ellie Mae closer to ‘first true digital mortgage'” (9-6-2017)
“Agents and brokers know that one of the most painful parts of a real estate transaction is one that continues to be mired in paperwork: obtaining the mortgage.”
HousingWire – “MBA: Refinance applications now make up half of all mortgage applications” (9-6-2017)
“As mortgage applications ticked slightly higher, the share of refinance applications finally inched its way back up to half of all mortgage applications, according to the latest report from the Mortgage Bankers Association.”
CNN – “You can buy a new Dubai apartment for 50 bitcoin” (9-6-2017)
“Bitcoin fans are being offered first dibs on 150 apartments in a new Dubai development. Aston Plaza and Residences is offering studios for 30 bitcoin, and one-bedroom apartments for about 50 bitcoin ($242,000), although the prices may vary because they’re pegged to the dollar.”
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:
CoreLogic reported home prices increased 1.1% month-over-month and 6% year-over-year in July. The demographic in the real estate market showing an increase in purchasing was single women. Due to interest rates decreasing and wages increasing, more people were choosing to buy despite prices being at their peak in many metropolitan areas.
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.