YORBA LINDA, Calif., Aug. 21, 2014 /PRNewswire/ -- Housing starts have unexpectedly dropped, some real estate markets are experiencing slight price declines, the mortgage market has come to a screeching halt compared to 2013, and the real estate industry remains on pins and needles as winter approaches. Are we experiencing the start of the Great Recession II or will 2015 live up to analysts' expectation?
"California relies heavily on a strong real estate sector. As REOs and short sales decline, we've seen our real estate investor network focus on new construction and standard seller sales but it's been a slow start," Norris said, adding, "There's room for more price increases in California but consumer financing will be key in the year ahead."
Norris has assembled a panel of real estate experts to address the current state of real estate and its implications for consumers and real estate professionals during his 7th annual "I Survived Real Estate" charity gala, which is scheduled from 4 to 10:30 p.m. Friday, Oct. 24, at the Nixon Presidential Library in Yorba Linda.
Other topics of discussion will include the latest statistics on home prices, default rates, builder sentiment, consumer ownership trends and the outlook for access to financing for consumers and investors. "If the federal government is going to reduce the footprint of Fannie Mae and Freddie," Norris asked, "will the private market be its replacement? How will this be done and at what price?"
Expert panelists scheduled for this year's "I Survived Real Estate" charity gala include:
- Beth Peerce, Vice President for the National Association of Realtors
- David Cogdill, President & CEO for the California Builders Industry Association
- Sean O'Toole, President of PropertyRadar
- Bill Cosgrove, Chair for the Mortgage Bankers Association
- Christopher Thornberg, Principal, Beacon Economics
- Doug Duncan, Chief Economist for Fannie Mae
Proceeds from the Oct. 24th "I Survived Real Estate" event will be donated to Make-A-Wish® Orange County and the Inland Empire, and to St. Jude Children's Research Hospital. The event has raised over $430,000 for charity in the past six years.
Norris regularly interviews economists, government officials, association presidents and other industry thought leaders on his weekly real estate radio talk show, which airs at 6 p.m. Saturdays on KTIE 590 AM in San Bernardino. Podcasts of Norris's radio interviews can be accessed through his company website, www.thenorrisgroup.com. The Norris Group is a California-based hard money lender and real estate investment firm.
"I Survived Real Estate" has more than 25 sponsors, including HousingWire, Auction.com, PropertyRadar, the Apartment Owners Association, InvestCLUB for Women, the San Jose Real Estate Investors Club, Realty 411 Magazine, Personal Real Estate Magazine, MVT Productions, White House Catering, and the San Diego Creative Investors Association.
For tickets and other information regarding the Oct. 24th event, visit www.isurvivedrealestate.com.
SOURCE The Norris Group