Tom Salomone, President of NAR, Joins Bruce Norris on the Real Estate Radio Show #502

On Friday, October 21, the Norris Group proudly presents its 9th annual award-winning black tie event I Survived Real Estate. An incredible lineup of industry experts will join Bruce Norris to discuss perplexing industry trends, head-scratching legislation and opportunities emerging for real estate professionals. Proceeds for the event benefit Make a Wish and St. Jude Children’s Research Hospital. This event is not possible without the generous help of the following platinum partners: HousingWire, PropertyRadar, the Apartment Owners Association, the San Diego Creative Real Estate Investors Association, InvestClub for Women, MVT Productions, the San Jose Real Estate Investors Association, Inland Empire Real Estate Investment Club, Think Realty, and White House Catering. Visit www.isurvivedrealestate.com for event information and tickets.

Bruce Norris is joined this week by Tom Salomone. Tom is a realtor from Coral Springs, Florida and is the 2016 president of the National Assocation of Realtors. NAR, the voice of real estate, is America’s largest trade association representing over 1 million realtors involved in all aspects of the residential and commercial real estate industries. Tom has been licensed in real estate for more than 40 years. He is the second generation realtor as well as a broker/owner of Real Estate Two Inc., a firm specializing in residential real estate. Over the years Tom has been named realtor of the year multiple times and served the industry in many capacities over his 40-year career. Tom is experienced in both business and sports in order to serve his community through a number of different organizations, including the Boys and Girls Clubs of America. He has been a member of the Chamber of Commerce, a Coral Springs charter school business sponsor. As a water control district supervisor he has coached over 46 sports teams in local city leagues and been a member of the Amateur Athletic Union in the United States Specialty Sports Association. He volunteers with organizations to prevent heart disease and cancer. He attends the St. Andrews Church and is a proud father of two sons, TJ and Bryce and husband to his lovely wife Diana.

Bruce and Tom discuss his 40 years in the real business, transitions he saw during this time, reasons people may find financing difficult, the current bill aimed at veterans, advice for those who prefer to rent instead of own, and much more on this week's Norris Group real estate radio show and podcast.

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Ray Brewer, HUD Field Office Director, Joins Bruce Norris on the Real Estate Radio Show #493

Bruce Norris is joined this week by Ray Brewer. Ray is currently the field office director for the U.S. Department of Housing and Urban Development in L.A. He has been serving in this capacity since June 2009, consisting of more than 200 employees. The HUD LA office is the largest field office in the nation. Having joined HUD in 1978, he has been involved in many different departments. As field office director he represents the agency and is responsible for coordinating outreach activities and program delivery to HUD customers and communities across Southern California.

Bruce and Ray discuss the real estate market over the past 38 years, HUD and how much it is involved in, the housing choice voucher program, how one applies for a voucher, the main demographic for the program, HUD's push to end veteran homelessness, and much more on this week's Norris Group real estate radio show and podcast

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John Burns of John Burns Real Estate Consulting Joins Bruce Norris on the Real Estate Radio Show #455

On Friday, October 16, the Norris Group proudly presents its 8th annual award-winning black-tie event I Survived Real Estate. An incredible lineup of industry experts will join Bruce Norris to discuss perplexing industry trends, head-scratching legislation, and opportunities emerging for real estate professionals. Proceeds from the event benefit Make a Wish and St. Jude Children’s Research Hospital. This event could not have been possible without the generous help of the following platinum partners: HousingWire, PropertyRadar, the Apartment Owners Association, the San Diego Creative Real Estate Investors Association, San Jose Real Estate Investors Association, InvestClub for Women, MVT Productions, First Lending Solutions, and White House Catering. For event information, visit isurvivedrealestate.com.

Bruce Norris is joined this week by John Burns. John is the founder of John Burns Real Estate Consulting, which he opened in 2001. John and his team consult with executives all over the country, analyzing and summarizing information they need to make housing industry decisions with more confidence. The company is on retainer with some of the largest companies in the housing and investment industries, producing regular monthly reports on housing market conditions and customizing specific studies to help with strategic and community specific decisions. Bruce and John discuss the increase in urban growth, the possibility of a California building boom the attitude among millennials regarding housing, the decrease in the Hispanic population, the spread between price inventory, and much, much more on this week's Norris Group real estate radio show and podcast.

The Norris Group would like to thank its gold sponsors for supporting I Survived Real Estate: Adrenaline Athletics, Capital City Wealth Builders, Coachella Valley Real Estate Investors, Association, Coldwell Banker Town and Country, Elite Auctions, iMortgage, In a Day Development, Inland Valley Association of Realtors, Jennifer Buys Houses, Keller Williams Corona, Keystone CPA, Las Brisas Escrow, LA SouthReia, Leivas Tax Wealth Management, North California Real Estate Investors Association, North San Diego Real Estate Investors, Pilot Limousine, Orange County FIBI, Real Wealth Network, Realty411 Magazine, Rick and LeeAnne Rossiter, Southern California Chapter of the Appraisal Institute, Sonoca Corporation, Spinnaker Loans, Tri-Counties Association of Realtors, uDirect IRA Services, Westin South Coast Plaza, Wilson Investment Properties, FIBI Pasadena, and Scott Whaley.

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Nancy West of HUD Joins Bruce Norris on the Real Estate Radio Show #438

Bruce Norris is joined this week by Nancy West. Nancy is one of four marketing and outreach specialists for the U.S. Department of Housing and Urban Development in the country. Nancy joined HUD in 2004 as an underwriter and accepted her current position in 2006. Nancy works out of the Santa Ana homeowner center, which services 8 Western United States, Guam, and the Mariana Islands. Nancy traveled extensively, providing information training updates and presentations on FHA programs as well as conducting regular ongoing webinars. Bruce and Nancy discuss the current lending environment and where we are headed, the FHA, first-time buyers and to whom the FHA will lend, FICO score requirements, the tax rebate program, homeownership percentages, and much, nuch more on this week's Norris Group real estate radio show and podcast.

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Mike Novak-Smith and Ted Boecker of RE/MAX Join Bruce Norris on the Real Estate Radio Show #431

Bruce Norris is joined again this week by Ted Boecker and Mike Novak-Smith. Ted is the owner and broker of RE/Max Results in Moreno Valley. He started the company in 1989, and he has been experienced at practicing law and being a general contractor. He has also operated different types of developments. Mike Novak-Smith is one of the leading REO agents in the entire country and the top 1% of all real estate agents nationwide. He is experienced in REO short sales, bankruptcies, asset management and negotiating. He specializes in REOs in Riverside and works with Ted’s brokerage. Bruce, Mike, and Ted discuss the difficulty today in getting loans, hedge funds, the decrease in loans handled by FHA, the need for a open market sale, the cut in full-time jobs, the initial pre-qual process, the decline in FHA loan limits, and much more on this week's Norris Group real estate radio show and podcast.

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Coldwell Banker Pioneer Owner Lance Martin Joins Bruce Norris on the Real Estate Radio Show #429

Bruce Norris is joined again this week by Lance Martin.  Lance has been in the real estate business for nearly 30 years as a broker owner of Coldwell Banker Town and Country Real Estate, which serves the Inland Empire.  Lance is an expert in residential REO sales, property has a huge property management business, and hires about 250 agents. Bruce and Lance discuss the private money and occupant world, FHA loan limits, credit requirements for Fannie and FHA, hedge funds, private financing, the recent nothing-down loan program, the age of decision-making for millennials compared to baby boomers, the duration after the recovery from a foreclosure or short sale credit, and much more on this week's Norris Group real estate radio show and podcast.

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Cary Pearce of Provident Bank Mortgage Joins Bruce Norris on the Real Estate Radio Show #419

Bruce Norris is joined this week by Cary Pearce. Cary is the current sales production manager for Provident Loans. As a production manager, he has closed almost 2500 loans for about $350 million in his career as well as supervised another $1 ½ billion in other closings. Cary started in the business in 1985 when he worked at Coldwell Financial. He later went to work for Acu Bank Mortgage, where he first met Bruce. Here he was promoted to a position of branch manager. He has been with Provident as their production manager since 2009. Bruce and Cary discuss ARM products and VA loans, conventional loans, the loan market from 1985-1989, the two sides of the lending world, the GSEs five years from now, the downturn from 1990-1996, loan fraud, mortgage-backed securities, and much, much more on this week's Norris Group real estate radio show and podcast.

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John Burns Joins Bruce Norris on the Real Estate Radio Show #414

Bruce Norris is joined again this week by John Burns.  John is the CEO of John Burns real estate consulting firm, located in Irvine.  They are a national source of independent housing research, advice, and consulting.  Their mission is to help executives make informed housing industry decisions.  His firm provides builders, developers, banks, lenders, investors, and building product manufacturers with timely analysis they need in order to make smart decisions quickly and cost effectively.  Research is backed by detailed data as well as proprietary tools and experienced professionals around the country. Bruce and John discuss the market for this year and if it met their predictions, construction numbers in California, development costs, subdivision creation in Riverside County, FHA's reduction of loan balance and how it affects builders, unsold inventory versus sales, Fannie and Freddie's new 3% down loan program, single-family rental homes, and much, much more on this week's real estate radio show and podcast.




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Gary Watts Joins Bruce Norris on the Real Estate Radio Show #384

Bruce Norris is joined this week by Gary Watts.  Gary is the broker and owner of Impact Real Estate.  This is a private real estate company that provides consulting services to not only buyers, sellers, and investors, but also to companies affiliated with the real estate industry in California.  Gary is a well-known real estate economist who began his career in 1971.  Today, he and his company are called upon to advise the home industry of economic trends that will affect and effect their future impact on real estate.  He also manages investment properties that they acquire for their investors. Bruce and Gary discuss the years when real estate was something other than residence, the beginning of monitoring interest rates, sales requiring loan originations in the 1980s, sub-prime loans, the Great Depression of the real estate industry, foreclosures and trustee sales, government involvement in the appraisal business, the advantage of charts, and much, much more on this week's real estate radio show and podcast.

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Selma Hepp of CAR Joins Bruce Norris on the Real Estate Radio Show #373

Bruce Norris is joined again this week by Selma Hepp. Selma is the senior economist for the California Association of Realtors, a statewide trade organization with more than 100,000 members dedicated to the advancement of professionalism in real estate. Selma directs the activities of the association’s research and economics group. She oversees the research and analysis of housing markets and economic trends, member and consumer surveys, and the impact of real estate related regulatory and legislative policies. She earned her Masters degree from SUNY in Buffalo and a PhD from the University of Maryland. Bruce and Selma discuss immigration, the lending requirements that went into effect in January, the hedge funds in 2012 and 2013, the percentage of the market going to foreign investors, legislation passed in 2013 that could pose concerns, debt forgiveness, and much more on this week's real estate radio show and podcast.

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Cary Pearce of Provident Bank Mortgage Joins Bruce Norris on the Real Estate Radio Show #367

Bruce Norris is joined again this week by Cary Pearce. Cary is the production manager for Provident Bank Mortgage. They do about $20 million in volume a month. He has been with them for four and a half years and has been in the industry for 28 years. Bruce and Cary discuss FHA loan limits, FHA loans at the end of 2013, mortgage-backed securities, the hole in the marketplace right now for new construction,  price gains, conventional loans, and much more on this week's real estate radio show and podcast.

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Cary Pearce of Provident Bank Mortgage Joins Bruce Norris on the Real Estate Radio Show #366

Bruce Norris is joined this week by Cary Pearce. Cary is the production manager for Provident Bank Mortgage. He is in the Inland Empire, and they do about $20 million a month. He has been with them for four and a half years and has been in the industry for 28 years. Bruce and Cary discuss the mortgage industry today compared to 2006, prices in the 80s and early 90s, the new QM rules, concerns over the new oversight,automated approvals by the FHA and GSEs, the 417 loan amount, the advantage of a conventional loan and its lower PMI factor, and much more on this week's real estate radio show and podcast.

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I Survived Real Estate 2013 Part 5 #357

On October 18, 2013, The Norris Group proudly presented I Survived Real Estate 2013. An expert line-up of industry experts joined Bruce Norris to discuss perplexing industry trends, head-scratching legislation, and the outlook for real estate in the coming year. Over $90,000 was raised to benefit Make a Wish and St. Jude Children’s Research Hospital. In this segment, Bruce continues his discussion with Debra Still and Mark Palim, covering topics such as the impact of rising interest rates on the housing recovery, the ridiculous interest rates we see today, slowdown in sales and appreciation in prices, the increase in ARMs, popular past products not coming back, the current cap on fees, the percentage of loans in 2013 that would not meet QM, the 3-point rule and the negative impact on small loan amounts, and much, much more on this week's real estate radio show and podcast.

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Doug Duncan Joins Bruce Norris on the Real Estate Radio Show #351

Bruce Norris is joined this week by Doug Duncan.  Doug is Fannie Mae’s Vice President and Chief Economist.  He is responsible for managing Fannie Mae’s strategy division, economics, and mortgage market analysis groups.  In this leadership role, Duncan provides all economic housing and mortgage market forecasts and analysis.  He also serves as the company’s thought leader and is a spokesman on economic and mortgage market issues. Bruce and Doug discuss the housing market today compared to a year ago, the decline in construction employment, organic growth in the market, population and demographics being the driving factors in the housing market, buyer mentality, the percentage of the market Fannie and Freddie have, shadow inventory, the upcoming event I Survived Real Estate 2013, and much more on this weeks real estate radio show and podcast.

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John Burns Joins Bruce Norris on the Real Estate Radio Show #348

Bruce Norris is joined this week by John Burns.  John is the CEO of John Burns Real Estate Consulting.  John and his team consult with executives all over the country analyzing and summarizing the information they need to make housing industry decisions with more confidence.  The company is on retainer with many of the largest companies in housing and investment industries.  They produce regular monthly reports on housing market conditions and customizing specific studies to help with strategic and community-specific decisions.  John is also a frequent speaker and has been interviewed by most of the major media. Bruce and John discuss the client base at his office and how much his staff has grown, the foreign buyer market, warning signs in the market, the current state of real estate prices, the building market, unsold homes as a percentage of inventory, the new criteria for getting a loan, FHA policies, the upcoming event I Survived Real Estate 2013, and much more on this weeks real estate radio show and podcast.

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Gary Thomas Joins Bruce Norris on the Real Estate Radio Show #344

Bruce Norris is joined this week by Gary Thomas. Gary is the National Association of Realtors 2013 president. Gary has been in the business for over 35 years and has been the owner of Evergreen Realty in California. Bruce and Gary discuss his role as the president elect, the FHA and GSE reform he has spoken on in front of Congress, the FHA from 2005-2007 compared 2008-2010, the problem of overlays in our industry, access to capital being the biggest unknown for the industry, qualified residential mortgages, what determines the quality of loans, short sale debt forgiveness, immigration reform, and much more on this weeks real estate radio show and podcast.

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Rick Solis Joins Bruce Norris on the Real Estate Radio Show #330

Bruce Norris is joined this week by Rick Solis. Rick wears a lot of hats. He is an investor, an appraiser, hard money lender, a landlord, and on occasion he puts on his teacher’s hat. Bruce and Rick discuss appraisals and comparables that Rick does for the different areas, automatic appraisals and other review processes, price increases and price movement and what this holds in the future, inventory levels, and much more on this week's real estate radio show and podcast.

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Rick Sharga, Vice President of Carrington Holding Company, LLC, Joins Bruce Norris on the Real Estate Radio Show #328

Bruce Norris is joined this week by Rick Sharga. Rick is an executive vice president at Carrington Mortgage Holdings, LLC. Rick is one of the most often quoted experts and has been on almost every television show about real estate records. He has been seen on NBC Nightly News, CNN, CBS, NBC. He is a trusted voice in what is going on in the real estate world. Bruce and Rick discuss the time he spoke in front of the Federal Reserve and Senate Banking Committee, vertical integration, Carrington Holding Company and their new programs and services, Carrington's business model in addition to other business models, rent values, long-term holds, and much more on this week's real estate radio show and podcast.

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Peter Schiff, CEO of Euro Pacific Capital, Joins Bruce Norris on the Real Estate Radio Show #327

Bruce Norris is joined again this week by Peter Schiff. Peter is the CEO of Euro Pacific Capital and bestselling author of The Real Crash: America’s Coming Bankruptcy - How to Save Yourself and Your Country.He is also the host of the nationally syndicated Peter Schiff show, heard daily from 1-3 Pacific Time at schiffradio.com. Bruce and Peter discuss California during the Bubble, mortgage rates in California, the national economy and how it is affected by government policies, the economy today compared to the 1990s, interest rates, the analogy of decoupling when relating to the market, the problem of monetizing debt, and much more on this week's real estate radio show and podcast.

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John Karevoll of DataQuick Joins Bruce Norris on the Real Estate Radio Show #323

Bruce Norris is joined again this week by John Karevoll. John was born in Minneapolis in 1951.His family moved to Norway where he was raised, educated, and married. He worked as a journalist in Oslo for ten years and joined a Scandinavian business publication in New York in 1983.In 1987 he was pulled into the world of data, mining large databases for trends.He has worked for TRW, CDB Infotek, Axiom, and others.His relationship with San Diego-based DataQuick Information Systems goes back to 1989.The statistics he generates are used by public agencies, lending institutions, title companies, and others. Bruce and John discuss the current competition in the marketplace, pent-up demand, the appraisal world, inventory, where interest rates are headed, and much, much more on this week's real estate radio show and podcast.

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