Watching the News last night; they talked about more bad news for the economy. The news said "Biggest drop in home sales" and "prices drop x%". What they don't say is; Biggest drop as compared to what? Last month? Last Year? 10 Years ago? Prices have dropped compared to what? Last month? Last year?
My father; whom is a very educated man and runs his own IT company; tu
The outlook for the U.S. Housing market for next year is definitely gloom and could probably be worse than this year. Statistics show that more than 81,000 families lost homes to foreclosures this September, a 71 percent increase from last year. 2008 proved to be a bad year for the housing market as a record 765,558 foreclosure homes were already tallied with still a month left for the year.
This weekend it was announced that the ailing Citigroup would receive additional support from the U.S. government. The initial leaks didn’t appear to be all that fantastic with another typical injection of $20 billion in capital infusions via the U.S. Treasury. The more troubling item is the U.S. government will now be backing a toxic [...]
To realize how we got where we are now, you have to go back to the late 1990s.
We had what has been called “irrational exuberance” with the dot com run-up in the late 1990s and then the dot com bust in the early 2000s. We had the dot com crash and then September 11, 2001 caused another stock market decline.
As people took their money out of the stock market, they started throwing it in
According to the newspaper edition of the Nihonkeizaishibun on October 16, the fallout from the financial crises is continuing to spread. The housing market in Japan is facing hard times.
Real Japanese
国内住宅市場が一段と低迷し始めた。米国発の金融危機で世界的な株安が進んだ九月以降、消費者心理の後退や融資環境の悪化で売れ行きがさらに
California housing has been an enigma for most in terms of pricing. How in the world did the median price for a California home reach $597,640 at the peak of the housing bubble? That is a question that historians, economist, and writers will need to answer once the ashes are left. But we are still [...]
As reported by Bloomberg - "U.K. House Prices Decline Most Since 1991, Nationwide Says":U.K. house prices dropped by the most in at least 17 years in October as banks tightened their grip on credit and the prospect of a recession deterred potential buyers, Nationwide Building Society said. The average cost of a home fell 14.6 percent from a year earlier to 158,872 pounds ($261,000), th
The Bank of England has warned that 1 in 10 householders (1.2 million) face the prospect of negative equity (house value is less than the outstanding mortgage debt). As house prices fall in 2009, the number facing negative equity will increase.Why Negative Equity Has Occured.Falling House prices House prices have fallen 15% on their mid 2007 peak. House prices are falling because:Shortage of avail
I just read this on CNBC.com:
“In my wildest dreams I couldn’t have imagined that the market could have gotten this much worse, as bad as it was last year,” says Rick Sharga, senior vice president of RealtyTrac.
Why is this happening—especially when the last thing most lenders want to do is repossess a house?
For one thing, [...]
Tuesday October 28, 2008
Navivest
The S&P/Case-Shiller Home Price Index, which measures home prices in 20 U.S. cities, registered a drop of 16.6%, for the month of August 2008. In July, we saw a 16.3% drop.
The index has shown a decline in home prices every month for the past nineteen months. The good news is that the number [...]
CLEARANCE rates again crashed to record lows over the weekend, with the lure of the increased first-home owners grant failing to offset buyers' concerns about the global financial crisis. In Sydney, the auction clearance rate plummeted to 39.6 per cent, 10 points lower than the figure recorded last weekend and 24 per cent lower than the figure recorded for the same weekend last year.
With the continued negative information regarding our economy nationwide, including the housing industry, the stock market, the failed banks, and whatever else you want to throw into the mix, one would get the impression that we should all go hide in a closet and hope one day that it will be safe to come out. [...]
Confusing day for anyone reading up on the Southwest Florida housing market.......The News-Press reports that Lee second in foreclosures in Florida during September, with one in every 72 homes is facing foreclosure. On the other hand, WINK News reports that Home Sales Hit All Time High.What does it all mean? Well from my perspective, things are so bad they are good. That is unless you are sitti
As reported by Inman News:"LONDON -- The European housing markets are turning as bitter as vinegar on chips as property sales and prices come tumbling down.Property values fell to their lowest level in 30 years in September, according to the Royal Institution of Chartered Surveyors. According to another report, home sales fell to 17,000 in June 2008 from 105,000 in June of 2007, and that was befor
This video is obviously politically driven, and I don't know exactly how accurate the accusations are, but all in all it sums up exactly why the Housing Market and Economy we're in are in such bad shape.Burning Down the House - Our Economic Crisis | Funny Jokes at JibJab
According to the Times Online, if the cost of home loans fell by a further half-point, the current worsening housing market situation could be over as soon as next year
Morgan Stanley's chief UK economist, David Miles, said that if mortgage rates stayed at present levels, an educated guess from sophisticated economic estimates was that house prices would fall by another 5 to 10 per cent and wipe
THE EMERGENCY ECONOMIC STABILIZATION ACT
As you know or at least you have heard by now about the “Bailout or Rescue.”
Basic Synopsis: On October 3rd, President Bush signed emergency legislation to help stabilize financial markets and improve bank dealings with borrowers in foreclosure. The legislation includes provisions that reinsert monies back into credit markets to help [...]
Paradise Valley home sales hit a long time low and inventory exceeds 1,000 days.Paradise Valley is having a hard time with its stock of homes. The total inventory of 500 active homes exceeds 1,000 days of supply. This is extreme in any sense. It means that sellers will have to compete fiercely for the few buyers out there. In September there were only 15 buyers: down from 1
Most philosophers think that the past is one of the greatest sources of answers to present questions. For instance, in the world of the housing industry, the collapse of the subprime market actually started the foreclosure crisis. If you have been confused with this nationwide problem, it will be better if you learn about what happened.
AP via Yahoo Finance reports the following:
WASHINGTON (AP) — Rates on 30-year mortgages have risen for a second straight week, climbing to the highest level in a month.
Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.10 percent this week, up slightly from 6.09 percent last week. It was the highest level [...]
So what happens if there is no consensus on a plan to unfreeze the credit markets? For starters, a frozen real estate market. From an AP story:The recession in the U.S. housing market is expected to be deeper, longer and scarier if lawmakers continue to be deadlocked in their effort to pass a $700 billion bailout of the financial industry...U.S. home prices have already fallen about 20 percent s
Considering how many individuals have gotten behind on their mortgage payments and the bills that they have, it is not surprising to see so many debt consolidation loans being purchased from so many different institutions. With so much debt going around, it only makes sense to attempt to consolidate as much as possible and negotiate [...]
Fresh off of the Wall Street bailouts and short-selling bans, I'm here to remind everyone that while things slowly are being resolved on Wall Street, there is still a whole nother set of problems on Main Street. The unemployment rate is 6.1%. Not to mention, the economy lost 100,000 jobs in June, 60,000 in July, and 84,000 in August. We're now at eight consecutive months of job losses. And, we
44% believe the new president will improve the housing market per a study by Harris Interactive.
John Tuccillo, former National Association of Realtors chief economist, is quoted as saying "Consumer confidence tends to rise whenever there is a ...
44% believe the new president will improve the housing market per a study by Harris Interactive.
John Tuccillo, former National Association of Realtors chief economist, is quoted as saying "Consumer confidence tends to rise whenever there is a ...
While the rest of the homes in today’s market are dropping in value, the homes in the gated communities are continuing to rise in value. This is because of the limited number of gated community homes that ever reach foreclosure and the level of care each of the homes in the communities receives. [...]
I just read a short article in Realtor Magazine online, that said house prices rose 1.1% in June from May. Not to say that we’re out of the woods by any means, but it’s the small things that one has to appreciate right?
Most Americans would probably agree that housing and the credit crisis is the number one issue. Even though many are seeing fuel as the major story of the day, ultimately the most expensive line item for most Americans is housing. Not only does it create the largest monthly outflow, it is also the single biggest [...]
The American economy is steadily slipping down as people are losing their jobs to high inflation and the price of gas makes it harder for people to drive anywhere, especially for leisurely shopping which would help the economy. The only good thing is that the price of the homes is less in today’s market. But, [...]
The New York Times reported this today:
Homeowners with good credit are falling behind on their payments in growing numbers, even as the problems with mortgages made to people with weak, or subprime, credit are showing their first, tentative signs of leveling off after two years of spiraling defaults.
The percentage of mortgages in arrears in the [...]
The housing market continues to be in freefall. The S&P/Case-Shiller Index plunged 15.8 percent in May, the biggest decline since records began being kept in...
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Perhaps foreign buyers can at least bring to the U.S. market what it's been lacking and may provide a psychological support of confidence. It is no surprise that with the weak dollar, foreigners are seeking more than just a holiday on American soil. There seems to be a trend growing especially in resort states like Florida. In fact the National Association of Realtors has found that 65 percent
The Good News: In some areas in and around Athens, Georgia average home prices are remaining mostly stable and appreciating!The not so great news: The average sales prices have dropped in 9 out of 12 areas measured. The hardest hit, Area 10, is North Madison County defined by the Athens MLS as north of Highway 98. My prediction of probable cause: gas pr
The Good News: In some areas in and around Athens, Georgia average home prices are remaining mostly stable and appreciating!The not so great news: The average sales prices have dropped in 9 out of 12 areas measured. The hardest hit, Area 10, is North Madison County defined by the Athens MLS as north of Highway 98. My prediction of probable cause: gas pr
For anyone buying or selling a house in the United States, "Flip This House" should be required viewing. In today's marketplace, the value of a house doesn't appreciate naturally, it happens with blood, sweat and a fair amount of cash.Armando Montelongo is the star of the show and he handles his clients with tough love, a tight budget and gritty determination.The episo
Online Builder-Buyer Matchmaker Now One of the Largest Real Estate Listing Syndications to Showcase New Homes and Condo Communities Worldwide
SAN FRANCISCO–(BUSINESS WIRE)–James Uberti, Vice President of Sales and Business Development for First Release Homes, Inc., announced today the company has expanded its real estate syndication. This positions the San Francisco-based company as
News crews started lining up on Saturday afternoon outside IndyMac’s headquarters in Pasadena, California. By Monday morning there were so many vans and news people ready to provide live feeds that they needed a parking valet. Everyone was hoping to see an angry mob and a good old fashioned run on the bank, not seen [...]
Today’s housing market is full of foreclosures and houses with declining values. This is a great time for individuals to buy homes, but a very hard time for those who are looking to sell the home for more than they bought it for. This is a hard time to get a loan as [...]
House prices in the UK are plunging, with fewer buyers looking to purchase properties. Those selling their homes have to compete with each other, and many are trying to undercut their prices to secure a sale. In addition those who are looking to buy are putting in low offers in the hope of securing a bargain in this unsteady market.
Source: Bangkok Post
The property market is becoming increasingly globalised with people buying houses and condominiums across borders on the back of rising affluence, says Dennis Chiu, managing director of the 250-rai Hyde Park Vibhavadee housing estate and Harrow International School.
Design, environment and standard of development are the key considerations for international buyers, said Mr Chi
The latest Standard & Poor’s/Case Shiller home price index released today provided more horrible news for the housing market in the U.S. According to Reuters:
Home prices extend record slide in April: S&P
NEW YORK (Reuters) - U.S. home prices extended their record slide in April, with every top metropolitan area now posting annual losses and many [...]
A record level of foreclosures is sweeping across America as the downward spiral in the real estate housing market continues. As prices fall more and more homeowners are finding themselves underwater. That is they owe more on the mortgages then the properties will bring if sold. This downward spiral feeds on itself as foreclosed [...]
James M. Weichert is President and founder of Weichert REALTORS(R), one of the nations largest privately held real estate firms. He is a conservative voice in the industry and has never come out and made market predictions for a recovery, until recently. In a communique to his 18,000 sales associates and 2,000 company employees, Weichert has declared that he sees signs of a market
KOB.com - Unfinished homes further depress housing market: "Homes that are sitting unfinished and vacant because of the depressed housing market are causing problems for people with finished homes that are on the market."Visit our websites: Albuquerque NM Real Estate and Rio Rancho Real Estate News Albuquerque Real Estate
KOB.com - Unfinished homes further depress housing market: "Homes that are sitting unfinished and vacant because of the depressed housing market are causing problems for people with finished homes that are on the market."Visit our websites: Albuquerque NM Real Estate and Rio Rancho Real Estate News Albuquerque Real Estate
For several years I've been including the question of higher gas prices when studying new development in outlying areas, arguing that infill projects will hold up better in a downturn if they're located closer to employment centers and/or offer access to convenient public transit. A recent study by the group CEO for Cities and profiled on BuilderOnline.com has confirmed this, which I think will pr
With Barack Obama now having a good chance of becoming the new American President in November, he will probably be hoping that, if he does win, he will be able to inherit an economy in reasonable shape. Unfortunately, any new President is likely to inherit an economy characterised by falling house prices and declining living standards. In particular, falling house prices continue to accelerate and
Whilst the effects of the global credit crunch plays havoc with the UK housing market, many people are struggling to find suitable mortgages. The problem is the same for a whole range of people from first time buyers to those who are looking to remortgage.
This from the Orlando Sentinel:
Hope dims for a turnaround in Orlando-area housing, experts find
A closely watched index of housing values released Thursday showed that the Orlando area’s stock of existing homes lost more ground during the first quarter of 2008.
The Metro Orlando index, based on data from the Office of Federal Housing Enterprise Oversight, fell [...]
Sales of new homes rose in April for the first time in six months although the unexpected increase still left activity near the lowest level in 17 years.
The Commerce Department reported that sales of new homes rose 3.3 percent in April to a seasonally adjusted annual rate of 526,000 units.
The government reported that home sales in March fell by 11 percent, an even bigger drop than originally
I have equated international real estate markets with the times of the day, this came to me as we turned the phones on to the 9am caller. These were the best calls to receive they tend to be motivated buyers so keen they are waiting for your office to open! They have been up all night doing research and have woken with one thing on their minds buying an overseas property
Indianapolis, Indiana maintained its standing as the most affordable major U.S. housing market for the 11th consecutive time in the first quarter of 2008, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), released today.
Nationwide, homes became more affordable for the third consecutive quarter, with the HOI rising to the highest [...]
The debate has shifted in the last few months with many now feeling that the credit crisis is behind us. Many are now looking forward thinking that the worst in the housing market is here and we are now nearing a short-term bottom. However, others have likened the current environment to being [...]
The debate has shifted in the last few months with many now feeling that the credit crisis is behind us. Many are now looking forward thinking that the worst in the housing market is here and we are now nearing a short-term bottom. However, others have likened the current environment to being [...]
Enlightened Wealth Institute student Tammy Powell: Wow! Finally, the media stops writing about ‘doom and gloom’!
The revered Wall Street Journal recently this month has done an excellent job on writing about the state of the U.S. housing market and more importantly, the trend!
By CYRIL MOULLE-BERTEAUX
May 6, 2008; Page A23
The dire headlines coming [...]
Attempting to define the Pasadena real estate market is akin to watching air run through a clear tube. You know its moving, you just can’t see it. I think that is what we are experiencing right now with Pasadena home sales. Conversations with other brokers and escrow agents indicate that there could be a small [...]
After such a great year in the real estate market the experts knew all good things must come to an end sooner or later and it seems they were right. The past four months have shown a notable cooling off in the sale of Toronto homes and condos. The sale of exsisting [...]
The National Association of Realtors’ seasonally adjusted index of pending sales for existing homes fell to 83.0 from a downwardly revised February reading of 83.8, the index’s previous low. The index stood at 103.9 in March 2007.
The Royal Institute of Chartered Surveyors (RICS) has announced that house prices have reached their worst point since the housing market crashed in the early 1990s.
As foreclosures increase and housing sales and values continue to decline its time to ask ourselves, “Where’s The Beef”? So far we have had a tremendous amount of proposals and opinions from our Presidential candidates, plus we have a government that’s intent on applying band aids to a patient that many perceive is already on [...]
The U.S. won the dubious honor of having the worst housing market in the world in 2007, recording an 8.9 percent drop in housing prices nationwide. The second worst housing market after the U.S. was Ireland, which saw a 7.32 percent drop. We all knew things were bad in the U.S. housing market, but the worst in the world? That is quite a distinction.When looking at these numbers we must remember a couple things, though.First, not all the countries in the world provide national housing market data, so many countries are not even included in the data set.Second, the U.S. is a large country and housing markets across cities and states are different from one another, so the number is simply a national average. Florida and California in particular had an extremely strong negative effect on these
There were three different economists opining at the NAHB Spring Construction Conference. All are hoping that the worst is behind us, but that builders need to adapt, Congress needs to act and sales need to increase so inventory levels are reduced; From the Nation's Building News:The outlook for housing and the economy should be gradually brightening within a few months, but before there can be any assurance that the worst of the downturn is over, there needs to be a pickup in home sales, according to panelists at NAHB’s Spring Construction Forecast Conference on April 24 in Washington, D.C. Residential production and sales this year have declined “more sharply than anticipated,” said NAHB Chief Economist David Seiders, and the situation for the U.S. economy “definitely has darke
When Californians say housing prices are insane and belong in a mental asylum wrapped up in a straight jacket, they usually are correct. Even as housing prices swiftly correct we are so conditioned to living with a bunch of crazies that many are actually starting to think current prices make some sense. This [...]Related Posts:■The Genesis of the Credit Bubble: Advertising, Deception, and $163 Billion in Subprime California Loans Resetting in 1 Year.■Real Homes of Genius: Today we Salute you Covina. Banks Learn a Lesson in Mark to Reality and the $300 Billion FHA Bailout.■Are You a Bitter Bubblehead Renter? The Evolution of Housing Psychology.■Parallel Universe: Housing Still Hurting on Main Street while Wall Street Celebrates.■New Century files for Chapter 11.
Even though things appear to be deteriorating rapidly and are shocking the public and officials, this castle made of mortgage sand was built over a decade of frankly irresponsible greed and corruption. There really is no way of sugar coating it. In the middle of it all, there was ethical behavior and those [...]Related Posts:■Foreclosures? Housing Bubble? In Southern California? Impossible!■Foreclosure Shrugged: The Issue with Finding an Exact Foreclosure Number.■The Foreclosure Story: What does the Process Look Like?■Real Homes of Genius Flashback: Looking back at Lakewood California. $105,000 Loss.■Superstars of Housing Love: The Sheriff Deputy Evicting People who Default.
After studying the regional economic collapse of the last several previous recent decades, I see unfortunate turbulence that will disturb our in flight movie this evening. Why you ask? Well, because the Federal Government has over spent, some was due to irresponsible fiscal policy and much was due to the outrageous cost of the Iraq [...]
Canada's real estate market stands on stable footing. On average, healthy year-over-year house price gains were recorded during the first three months of 2008. While more modest price increases were observed when compared to previous quarters, the solid appreciations noted in the first quarter are largely due to the shared effects of resilient local economies, high immigration levels, and relatively low interest rates - all leading to enduring buyer demand, according to a House Price Survey report released today by Royal LePage Real Estate Services.While almost all markets surveyed experienced price increases, it was the smaller cities, with relatively affordable housing and strong economies based on resource industries that emerged with the most significant gains. Thriving Saskatoon saw a
Many lenders are taking comfort from the initial assessment that the UK market will experience a soft landing for house prices in 2008.However, the overall picture is likely to disguise a wide variation in house price growth and transaction volumes across sectors and regions. Localised sharp falls in demand could result in house prices for certain types of property falling by around 10%.These localised and more limited falls can translate into significantly higher levels of arrears and losses for lenders.The importance of maintaining consumer and business confidence cannot be understated as increased price volatility is inevitable as volumes slow to much lower levels.Lenders now have a declining appetite for risk. The credit crunch has resulted in lenders reducing their overall exposure to
There's an interesting op-ed piece by Peter Schiff, president of Euro Pacific Capital and the author of "Crash Proof: How to Profit From the Coming Economic Collapse" in today's LATimes which argues that the only way the housing market can rebound is if prices fall more in line with incomes.Ok, fair enough. But also realize that Mr. Schiff has a book entitled "Crash Proof: How to Profit From the Coming Economic Collapse," so in a way this is a free PR gift courtesy of the Times. I'll have to keep that in mind if I ever write a book!Here are some of Mr. Schiff's arguments:The government is trying in vain to get funds flowing again and put a floor under prices. But it's too late. U.S. home prices are like a beach house supported by eight pillars: lax lending standards, low down payments, "
digg_url = '-first-time-homeowners-should-take-advantage-of-our-current-housing-market/';
Our current housing market, which is giving homeowners around the country financial headaches, is providing a grand opportunity to a certain class of potential buyers – first time homeowners. One man’s trash is another mans treasure is a saying that accurately reflects our current housing mess. Aside from those with a [...]
I just stumbled upon a very interesting graph on the US housing bubble taken from an August 2006 New York Times article: Read Between All Those For-Sale Signs. The articles is retrospectively very interesting, and hit a few nails on their head. The intro is particularly inspiring to me:
Real bubbles pop. They are [...]
It is clearly no surprise to anyone that housing is in a major slump across the country. What seems to be taking people by surprise is the rapidity of how quickly the market is retracting all the gains that it had made during the previous years. California faced many of the benefits during [...]
Long slog ahead
Housing slump may last longer than most predict; plus, agent commissions
By Lew Sichelman
Last Update: 6:58 PM ET Mar 27, 2008
WASHINGTON (MarketWatch) — Question: I’ve spoken to a few home builders in the
San Francisco Bay Area and they expect things to pick up in the second half of
the year. But this is a different [...]
Long slog ahead
Housing slump may last longer than most predict; plus, agent commissions
By Lew Sichelman
Last Update: 6:58 PM ET Mar 27, 2008
WASHINGTON (MarketWatch) — Question: I’ve spoken to a few home builders in the
San Francisco Bay Area and they expect things to pick up in the second half of
the year. But this is a different [...]
Florida Realtors See Signs of Improving Housing Market; Credit Amendment 1
Only weeks after Florida voters passed Amendment 1 in late January, Florida Realtors have noted signs of increased interest from potential homebuyers heartened by the measure’s property tax relief benefits, especially the portability provision.
In a recent online poll conducted by the Florida Association of Realtors [...]
Florida Realtors See Signs of Improving Housing Market; Credit Amendment 1
Only weeks after Florida voters passed Amendment 1 in late January, Florida Realtors have noted signs of increased interest from potential homebuyers heartened by the measure’s property tax relief benefits, especially the portability provision.
In a recent online poll conducted by the Florida Association of Realtors [...]
The housing market in Florida is getting worse by the day.
According to the Miami Herald:
February was another slow month for South Florida home sales, even though prices continued to fall.
South Florida home prices continued to drop in February even as the national real estate market showed a slight, unexpected sign of improvement after months in [...]
The battered housing market in the United States has gotten some good news from Washington recently. On Tuesday of this week the Federal Reserve cut key interest rates down to 2.25%. This rate cut, and predicted further cuts in the future, may help Ame
(EMAILWIRE.COM, March 20, 2008 ) SAN FRANCISCO, Calif – The battered housing [...]
I found this great article on the NPR web site:
Imagine this scenario: Real estate prices plummet, banks falter and policymakers wring their hands while a nervous public watches and worries. America in 2008? No. Japan in 1990.
Nearly two decades before America’s mortgage crisis, Japan weathered a real estate crisis of its own. And Japan’s experience [...]
This from the San Diego Tribune:
San Diego County’s housing market deepened its slump last month, with the median home price now down 20 percent from its peak in November 2005.
DataQuick Information Systems yesterday reported the median price for all county homes in February was $415,000, down 3.3 percent from the previous month and down 13.5 [...]
This from the LA Times:
Southern California home prices still dropping at record rate
Southern California home prices continued to fall at a record pace in February, and are now at 2004 levels, a real estate information service reported today.
The median price for a Southland home last month was $408,000, down 17.6% from a year ago, according [...]
The housing market in the US keeps getting worse every day. Today we had bad news on several economic indicators. These are some of the bad news we received today according to Yahoo Finance:
U.S. gold futures rallied to a record high of $1,000 an ounce on Thursday, fueled by a combination of a weakening dollar, [...]
We all know that there were various “Liar Loans” that caused the majority of the housing down turn the past few years. The question I here on a daily basis from Realtors in the Tri Valley is, “What can we do to get qualified buyers into these phenomenally priced houses”? One solution: FHA financing.
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I’ve learned as this market continues to unwind that many proposals issued out by our government carry a lot more bark and have very little bite. Yet there are some proposals that flat out irritate me because they strike at the core of what is ethical and are diametrically opposed to what any sane [...]Related Posts:■Real Homes of Genius: Today We Salute you Artesia. 626 Square Feet of Barbie Love for $360,000.■Short Sale Report Volume 3: Another Week and Another Record. SoCal Short Sales up over 12,000.■Et tu Subprime? Why This Mortgage Proposal is Hot Air…As of Today.■Real Homes of Genius: Today we Salute you Artesia. Half-off Sales Going on in Southern California. Federal Reserve new Pawnshop Function.■Real Homes of Genius: January Recap and Compton Prices Risi
The National Association of REALTORS, a.k.a. NAR, is predicting a flat market for existing home sales over the next few months, and then gentle relief to the housing market in the 2nd half of this year. Many buyers having been sitting on the fence, waiting for the “bottom of the market”. It’s time to move to [...]
This is part of a series on problems in the UK Economy
The UK housing market is one of Britain's favourite topics of conversation. There is eith much (barely disguised) gloating over how much your house is worth; or there is also a large section of new first time buyers who despair at the cost of trying to buy a house. There also seems to be endless speculation about the future direction of
Last week, the media was beating the final march song echoing the sentiment that Senator Clinton was down and out. In fact, early on March 4th, before any results were coming in, the media was heaping up a serving of speculation of which party elders were going to tell the candidate the bad news [...]Related Posts:■The Psychology of a Crashing Housing Market: Sending in Your Home Keys Just Got Easier.■When will my home cost me an ARM and a leg?■DataQuick News: Much Ado About Nothing?■Keep Housing and Monetary Policy in the National Debates: Donate to Dr. Ron Paul■Riding in the Short Bus of Housing: Southern California Short Sale Numbers. 1 in 10 Homes is a Distress Sale.
Detroit, MI – In the Detroit market is now possible to stop making house payment and/or stop paying rent and yet enjoy the pride of home ownership independent of credit score. The depressed Michigan housing market allows investors to buy bank owned properties for les than 20 cents on the dollar. These properties can be re-habbed, HUD-appraised and purchased by a senior, who is 62 or older and approved for a reversed mortgage. This senior can now be a proud home owner without ever having to make house payments again! The investors are willing to help the seniors by providing a private mortgage or land contract on the home while the reverse mortgage is obtained.What is a reverse mortgage? A reverse mortgage lets an owner convert home equity into cash. However, unlike a traditional home equ
The Effect of Interest Rates Cuts by the Fed on the Jacksonville and Ponte Vedra Beach Real Estate
With the housing market in recent turmoil, people are looking for any possible solution to provide a quick fix. The most popular trend throughout the ...
The Effect of Interest Rates Cuts by the Fed on the Jacksonville and Ponte Vedra Beach Real Estate
With the housing market in recent turmoil, people are looking for any possible solution to provide a quick fix. The most popular trend throughout the ...
From Daily TimesA bubble in the American housing market, fueled in part by so-called “sub-prime” mortgages, was the catalyst for today’s financial market turbulence. But the bubble was not confined to the United States. In Europe, house prices have also increased sharply over the last decade, more dramatically than in the US in many cases. The same is true of other OECD countries and emerging markets, where rapidly increasing incomes have put pressure on asset prices.Indeed, with a few exceptions (essentially Germany and Japan), housing prices have risen almost everywhere to levels never seen before. How could such a global pattern emerge when real estate is the most local of all assets?Recent research suggests that the global housing boom was closely linked to the unprecedented incr
The Washington Center for Real Estate Research reported Thursday that home sales in Washington state were down 25.6 percent in the fourth quarter of 2007 compared to the same period in 2006, while the median home price was $293,900, down 2.5 percent. In Whatcom County, however, home sales were about the same for that period (up 0.7 percent), while the median price rose 1.2 percent. Whatcom was one of six counties that recorded more home sales in the fourth quarter compared to the same period in 2006.
Current estimates put American residential wealth at $20.66 billion. This is an incredibly large number and that is why even the relatively small percentage decline in prices last year has put the entire economy at risk. According to the Case-Shiller Index which tracks 20 metropolitan areas in the United States, the index is [...]
The good news: Athens, Georgia's housing statistics for year end 2006 versus 2007 show a mostly stable market for average home sales prices!
6 out of 13 areas in and around Athens, GA had an increase in average sales price
Great News: Area 6 - Five Points in Athens, Area 10 - Madison County, and Area 13 - Oglethorpe County, have had an increased number of sales in the first half of the year.
The not so great news: The number of homes sold in the year 2007 versus the number of homes sold in the year of 2006 has decreased in 10 out of 13 areas in and around Athens, GA.
Average Days on the Market:
Days on market has actually decreased in four areas.
Days on market sharply increased in three areas.
Days on market remained mostly stable with only s
Since property values have declined in many cases - especially in the San Joaquin County CA, Stockton, CA area due to the sub-prime mortgage foreclosure rise, this might be a good time to order an appraisal for your home. If the value has declined, you may be able to request lower property taxes with the county.This is something you may want to look into doing. First.... I would suggest you ask an agent to do a property comparison on similar propertiesin size and location and of course - recent sales in that match your property - for you and they will let you know if your property value has gone done in a large amount. If yes, you just may be able to get a lower property tax bill. Of course, you would incur an appraisal fee. That is why I
