Your weekly news and updates NationalREIA Lori Hudson

36k Completed Foreclosures in March 
This week real estate data powerhouse CoreLogic released their March 2016 National Foreclosure Report which shows national foreclosure inventory declined by 23.2% and completed foreclosures declined by 14.9%, both numbers year-over-year.  The number of completed foreclosures nationwide decreased year over year from 42k in March 2015 to 36k in March 2016, representing a decrease of 69.7% from the peak of 117,782 in September 2010.
Rising Compliance Costs Hurt Home Builders 
A new study from the National Association of Home Builders (NAHB) shows that, on average, government regulations account for nearly a quarter of the price of the average new home.  Three-fifths of that final number, 14.6%, is due to a higher price for a finished lot resulting from regulations imposed during its development.  The other two-fifths of the house price, 9.7%, are from costs incurred by the builder after purchasing the finished lot.
CFPB Acknowledges Problems with Regs – Will Seek Input 
The Washington Post is reporting that the U.S. Consumer Financial Protection Bureau (CFPB) has acknowledged problems associated with its attempt last fall to add more transparency to the home loan closing process and is now seeking public input on how to fix them.  Title companies and real estate agents have complained about the confusion and inconsistency brought on by these new “Know Before You Owe” rules, which took effect last Fall.  Reform proposals will be published in the Federal Register and comments from the public will be considered (how nice of them). Then, at some point, the CFPB will issue a “final rule” with the issues they chose to address.  Stay tuned.
Foreclosure Starts Lowest in 16 Years  
The Mortgage Bankers Association is reporting that the percentage of loans on which foreclosure actions were initiated was .35%, down one basis point from last quarter and 10 basis points lower than this time last year.  In addition, the data reveal that foreclosure starts were at their lowest level since Q2 of 2000.  The delinquency rate for mortgages on 1-4 unit properties remained unchanged from last quarter at 4.77% of all outstanding loans.  This is the lowest rate since Q3 of 2006 and 77 basis points lower than one year ago.
Combining Real Estate Investing with Notes 
RealtyTrac recently featured an interesting article by NoteSchool’s Eddie Speed & Kevin Shortle entitled “Make 5 Times the Profit by Combining Real Estate Investing with Notes.”  In the piece, the duo discuss how a husband & wife team purchased a vacant home using real estate and note investing techniques, instead of the traditional approach of buying and then reselling to a rehabber.  It’s quite fascinating.
Real Estate Industry’s 1st “data mart” 
This August, data-powerhouse CoreLogic plans to launch what it calls Trestle; “the ultimate listing data management and property information tool for brokers, technology providers, and multiple listing organizations.”  Drawing information from over 300 MLS’s, (and their own data), CoreLogic is setting up a virtual data marketplace targeting  brokers, technology providers and multiple listing organizations.
7 Things to Consider Before Investing in a Crowdfunding Project 
There is no doubt that crowdfunding will have an incredible impact on the way real estate deals get done in the future.  We’ve featured many posts about the subject here at REI2Day.  Today’s infographic suggests seven things to consider before investing in a real estate crowdfunding project.

About the Author Mike Hurney

Mike Hurney is the Founder and Director of MassRealEstate.net, an Association of Contractors, Investors and Landlords. He is the Author and Coach of the popular Course "How to Become a Real Estate Investor in 12 Easy Lessons" which Trains and Guides Beginners or Sharpens and Challenges the Skill of Advanced Investors. Mike is a Successful Real Estate Investor, Rehabber and Landlord. He's also a Licensed Mortgage Broker and Construction Supervisor.

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