Posts about Real Estate Market Reports as of September 24, 2009

Andrew Torgan CNN Financial News Producer Sales of previously-owned homes fell in August, snapping a four-month streak of increases. Existing home sales fell 2.7% last month from July to a seasonally-adjusted annual rate of 5.1 million units, but were up 3.4% from a year ago, according to the National Association of Realtors. Sales had jumped 15.2% in the previous four months. Lawrence Yun, the NAR’s chief economist, said the drop may reflect delays in completing sales due to tough lending standards and new rules for appraisals.

Michael Saunders & Company Photo Credit: smh.com.auHard to believe, but only two months remain before the November 30th deadline for earning the First Time Home Buyers Tax Credit. While that may still seem like quite a ways off, if you’re planning to join the 1.4 million American families who have already taken advantage of this popular incentive—but have yet to zero-in on a property—you may very well find yourself in a sprint to get your purchase in under the wire.  This is not the sort of

For statistical analysis on property data from public records and valuation click here . The Housing in Crisis Report Senate Version of Cap and Trade will Pummel Real Estate Market Mortgage Assistance Program directed to Homeowners The Crisis of Public Management Where is the Real Estate Market Today? What Does the Fed’s Statement Mean for Mortgage Rates? Sales of Existing U.S. Home Probably Climbed As Prices Fell

Many homeowners are considering taking advantage of today’s historically low interest rates by refinancing their mortgage. In many cases, they are able to save hundreds of dollars per month by refinancing. Whether mortgage refinancing makes sense for you can be easily determined by doing some simple math. The first consideration is how much lower your new interest rate should be than your current rate. There is a common belief that if current rates are more than 1.5 to 2 percentage points lower than your current rate, then you should refinance.

August Illinois Home Sales Strong at the Entry Level Statewide Median Price at $165,000 SPRINGFIELD, Ill., Sept. 24 /PRNewswire/ — Record low mortgage interest rates, favorable prices at the entry-level, and the first-time homebuyer tax credit propel home sales in August. According to the Illinois Association of REALTORS latest report, statewide total home sales (which include single-family and condominiums) in August 2009 reached 10,595 homes sold, down 3.0 percent from August 2008 sales of 10,923.

Host Hotels & Resorts Announces Third Quarter Earnings Call to be Held on October 14, 2009 BETHESDA, Md.; Sept. 24 /PRNewswire-FirstCall/ — Host Hotels & Resorts, Inc. (NYSE:HST) will report financial results for the third quarter 2009 prior to market open on Wednesday, October 14, 2009, followed by a conference call at 10:00 a.m. Eastern Time (ET). Management will discuss the Company’s third quarter results and its business outlook for the remainder of 2009.

Shipping Container Houses: Shipping Container Homes: The Economical Choice Shipping container homes make sense from so many standpoints. Most importantly, it’s a cost-saving solution. A container home in St. Paul, Minnesota at 1800 sq. ft. cost $133 per sq. ft. to build. A container home in Redondo Beach, California cost $180 per sq. ft. to build. A cost of $150 per sq. ft. for a container home is not uncommon. These prices are for homes that have many custom design features at tract home prices.

Introduction: Maintaining content-rich web profiles are the most efficient way to market your specific services to your niche audience. I recommend you devote the bulk of your marketing budget to developing excellent content and lots of it, with some additional funds set aside for design, production, and maintenance. Your web properties include: websites, blogs, wikis, videos, podcasts, social networking profiles, images, applications, badges, and affiliate sites.

The latest O.C. home inventory report from Steve Thomas at Altera Real Estate in Aliso Viejo says that as of September 17 … * The “hottest” O.C. market in terms of “market time” (supply of homes for sale vs. new purchase deals inked in past month) is Portola Hills at 0.6 months to theoretically sell all for-sale homes at the current buying pace. * “Coldest” market is Corona Del Mar at 10.8 months to theoretically sell all for-sale homes at the current buying pace.

Fed says U.S. recovery is underway – The Federal Reserve on Wednesday upgraded its assessment of the U.S. economy, saying growth had returned after a deep recession, while reiterating its promise to hold interest rates very low for a long time.Embedded video from CNN VideoDollar Trades at One-Year Low Versus Euro on Economy Before Fed – The dollar traded within a cent of a one-year low against the euro on speculation the global economic recovery is gathering strength, encouraging investors to buy higher-yielding assets.The Recession has Technically Ended, Is Bernanke Joking?

Buying resumed on the bourses today after Wednesday’s (23 September 2009)’s slide that followed a rally in the preceding five days. But volatility ruled the roost as traders rolled over derivatives contracts from September 2009 series to October 2009 series ahead of today’s expiry of September 2009 contracts. Recovery in US index futures aided a strong intraday rebound on the domestic bourses in late trade.Index heavyweight Reliance Industries (RIL) reversed losses in choppy late trade soon after the company announced during trading hours that it has signed a gas supply pact with NTPC.

From NYT By PETER S. GOODMANAmong the possible casualties of the Great Recession are the gauges that economists have traditionally relied upon to assess societal well-being. So many jobs have disappeared so quickly and so much life savings has been surrendered that some argue the economic indicators themselves have been exposed as inadequate.In a provocative new study, a pair of Nobel prize-winning economists, Joseph E. Stiglitz and Amartya Sen, urge the adoption of new assessment tools that incorporate a broader concern for human welfare than just economic growth.

More Rough Times are Ahead for the U.S. Economy, Despite Recent Improvements in Durable Goods Orders, Exports, Auto and Real Estate Sales YORBA LINDA, Calif., Sept. 24 /PRNewswire/ — Despite signs of improvement, more rough times are ahead for U.S. economy, according to several prominent experts in real estate and the economy who attended a recent forum at the Nixon Presidential Library.

Established in 1980, Lodha Group is Mumbai’s premier real estate developer providing comprehensive residential and office space solutions across real estate categories and diverse consumer segments – from luxury garden residences in South Mumbai to large integrated townships in the suburbs, from thoughtfully designed office environments to private villa retreats. Headquartered in Mumbai, the group is currently developing in excess of 25 million sq. ft. of prime real estate spread over 27 projects.

By Daniela Silberstein Sept. 24 (Bloomberg) — European stocks fell for the first time in three days as German business confidence rose less than forecast, adding to speculation a six-month rally has outpaced prospects for the economy. Hennes & Mauritz AG led retailers lower as a sales decline worsened. Air France-KLM Group dropped 2.8 percent after UBS AG recommended selling shares of Europe’s largest airline.

September 24, 2009 Eleven Mistakes Inexperienced Landlords MakeCourtesy of InvestopediaWith the housing market collapse many investors who have been fortunate enough to preserve their cash, or maintain access to credit, are snapping up incredible deals on residential properties to try their hand at real estate investing.While it may sound easy enough — buy a home, make a few renovations and rent it out for more than the monthly mortgage payment — successfully managing your own investment properties requires the mindset of a business professional.

by Arnulfo Snider When the value of your home is less than the amount that you owe on your loan, you should consider a short sale. For the sake of argument we’ll say that your home is worth 350,000 and you owe 360,000 then a short sale would be a good option to pursue. However, if you don’t have to immediately sell your home then you could always wait and see what happens in the real estate market. If you cannot wait out the market, then you have three options available to you.

Good Morning!!! In celebration of His Holiness the Dalai Lama’s visit to the U.S. , I’ve hung up the prayer flags.  His Holiness just visited Memphis where he was awarded the International Freedom Award from the National Civil Rights Museum. The World: Every one is still trying to figure out what the deal was with Muammar el-Qaddafi’s First U.N.

By Langi Chiang and Jason Subler – Analysis Chinese housing prices have surged since March, but they will soon lose momentum and even start to fall around the end of the year, boding well for a more sustained contribution to overall economic growth. A burst of lending in the first six months helped fuel a wave of pent-up end-user buying and speculative purchases, driving up prices for some projects in major cities by 20-30 percent and creating concerns about dangerous bubbles.

Over the past few months we have been collecting various bits and pieces of information that the talking heads and toilet paper news reports either do not cover or play down in importance. Despite what you might hear or read in the newspapers the recovery is non-existent unless you are a banker, government official, corporate head or lobbyist. You can not have a recovery without full consumer participation. Although unemployment figures are considered lagging indicators in a recovery.

September 24, 2009 in Buying, Condo Stats, Condominiums, Attached, Townhouses, Financing, Credit, Debt | Tags: All About Portland Oregon Real Estate, Betty Jung, www bettyjung.com Guest Author:Bob  Chiodo, CFPEquity Home Mortgagewww.ResCommLending.comApply Here*Estimated Rates for the week of September 22, 200930 year fixed=4.875-5.00030 year jumbo=5.50 to $500k; 5.75 to $600k7/1 ARM=4.50 – 5.25 various programs are availableFHA/VA=5.00 – 5.25OR Vet=4.75 w/1.50 – 4.875 w/1.00Rates are still holding steady.

Homeowners are now much more realistic about the current value of their home than they were a few months ago. At the same time, they are more optimistic about the future of home values and the housing market generally. This new trend was revealed in a recent survey. About 60 percent of homeowners now believe their home lost value during the past year. Actually, 83 percent of homes lost value during the past 12 months, the report noted. However, 81 percent of homeowners believe their home’s value will not decrease over the next six months.

Sell and rent back is the sole option at times to evade a bankruptcy or a foreclosure for the homeowners who are in some kind of a financial distress. These type of sell and rentback deals let the proprietor of a home or some other property to liberate themselves from the burden of mortgage. And at the same time this option provides them with the prospect of staying in your house by way of renting it from the concerned purchaser of that property.

View Larger Map The  August 2009 Completed Sales Report for Zone 9, Central San Jose Single-Family Homes saw a closing of 42 sales receiving 100.71 % of list price . These closings represented a median price of $377,450 and an average price of $149,148. There were 74 new listings reported reported for August . Total Sales: $17,604,250 The August 2009 Completed Sales Report for Zone 11, South San Jose Single-Family Homes saw a closing of 60 sales receiving 103.67% of list price .

Welcome to Day Fifteen of Pump Up Your Book Promotion’s September Authors on Virtual Book Tour ! Follow along as these talented authors travel the blogosphere all month long to talk about their books, their lives and their future projects. Leave a comment at their blog stops and you could win a FREE virtual book tour if you’re a published author with a recent release or a $50 Amazon gift certificate if you are not published.

De Anza Hotel The  August 2009 Completed Sales Report for San Jose Single-Family Homes saw a closing of 573 sales receiving 100.27% of list price. These closings represented a median price of $485,000 and an average price of $534,493. There were 845 new listings reported to the MLS for  August 2009 . Total Sales: $306,264,813 The  August 2005 Completed Sales Report for San Jose Single-Family Homes saw a closing of 810 sales receiving 102.09% of list price.

Being happy doesn’t mean that everything is perfect. It means that you’ve decided to look beyond the imperfections. Some seem to be getting the perfect festival bonanza with Top IT companies doling out generous pay hikes and promotions. Last week, the Government had announced a hike in DA. The real estate industry has also resumed hiring. India Inc.’s fund raising binge continues.

Sponsored by online fx trading You have heard that currency trading is a quick way to financial freedom. You see stories about the billions ,no trillions,of dollars traded each day and think you can do this,no problem. Maybe you can but first read about the past three weeks in the forex market. January 2008 was a interesting month for currency traders. The Housing market was teetering on collapse. Lending institutions were taking huge writedowns for bad real estate loans.

Legal and certified documents are the backbone of a successful approval of any mortgage application. Especially when you lack the financial capacity to purchase your very own property, a mortgage application could be very helpful. And so that you could be a viable candidate, you need to prepare the documents as soon as possible. Understanding the importance of mortgage application documents is vital to your preparation.

Here’s a sampling of stories about the latest chapter in the long, strange trip otherwise known as Atlantic Yards. AP via Crain’s NY Business , Nets, Russia’s richest man agree to deal Could the New Jersey Nets become the Nyets? The basketball team once known as the New Jersey Americans is a step closer to being owned by Russia’s richest man, Mikhail Prokhorov, who on Wednesday said he has a deal to buy 80 percent of the NBA team and nearly half of a project to build a new arena in Brooklyn.

BUSINESS VALUATION Business valuation is a process and a set of procedures used to determine the economic value of an owner’s interest in a business. Business valuation is often used to estimate the selling price of a business, resolve disputes related to estate and gift taxation, divorce litigation, allocate business purchase price among the business assets, establish a formula for estimating the value of partners’ ownership interest for buy-sell agreements, and many other business and legal disputes.

Bancassurance group Suncorp-Metway is said to be in talks to divest its real estate unit LJ Hooker for an as yet undisclosed sum, to a Private Equity group run by the founder of the unit’s grandson Janusz Hooker, according to a report in The Australian. Customers of Suncorp, which is in the process of implementing a strategy of exiting the commercial real estate lending segment, have been told to renegotiate their commercial property loans by 2011. Mr.

I had my own “ shock and awe ” today, when I looked at homes for sale in Lake Los Angeles, and found a home that was right next door to the very first foreclosure deal that I ever bought. The house that I bought was a 3 bedroom 2 bath ranch on half an acre on 174th St in Lake Los Angeles. Back then when I got started I did quite a few deals in that area and every one of them has a unique story of trials, challenges, and eventual success.

I didn’t write this post.  It was lifted directly from a thread on the Property Pin, because I believe it needs to be shown to anyone with the wit to see what’s being done in Ireland.Here is the answer to every piece of spin, flim-flam and bullshit thrown at you by every political clown and banking snake-oil salesman.This is the truth behind Brian Lenihan’s theft of your children’s future.Be angry.___________________We are all to blame, we are all to responsible, we all had our heads in the trough MYTH/LIE/SPIN 2,000 individual loans make up the 77billion in toxic bad loans the tax payer is taking on.

MBA – Mortgage applications up The Weekly Mortgage Applications Survey, released by the Mortgage Bankers Association (MBA) for the week ending September 18, 2009, increased 12.8% on a seasonally adjusted basis from one week earlier, (a holiday shortened week), and on an unadjusted basis increased 24.6% compared with the previous week and 14.0% compared with the same week one year earlier. The Refinance Index increased 17.4% from the previous week as the 30-year fixed rate dipped below 5%.

Peoria Arizona Real Estate Agent at Work As a Peoria Arizona real e state a gent many people think I take people to see houses, write up some forms and collect an enormous check. Here are some recent activities that I feel helps my clients. The is why I love doing this kind of work. I love to help people. I hear two main reasons why people don’t buy a home. Since the average net worth of a renter was $1,500 verses $175,000 for a home owner, the economic and social improvement makes a very significant improvement to the whole family.

Filed in Hot Right Now on Sep.23, 2009Austin, Texas March 1, 2008 — “Downtown urban living is continuing to grow and that trend is here to stay,” says Ray Walter of Walter Mortgage Funding. There is definitely a new trend resonating in downtown Austin as many professionals are choosing to live, work and play in proximity to one another.

David Sandler is a good judge when determining whether a bank will survive. As a financial advisor in bank mergers, he helped put together 10 deals worth $235 million in the first half of 2009. Sandler will share what he’s learned at the American Bankers Association’s National Agricultural Bankers Conference to be held at the Grand Hyatt San Antonio in San Antonio, Texas, Nov. 15-18.  In his presentation, Sandler will predict what is in store for the industry in the year ahead and explain how the government’s stabilization programs have impacted bankers and will continue to impact them going forward.

The encouraging response to low/mid-segment housing could lead to more such projects coming up soon, augmenting supply, says a report The second quarter of the year was a tale of two halves. The first half saw continued pessimism characterized by the liquidity crunch owing to high cost of debt and reluctance of funds to invest, irate customers exiting stalled projects, sliding rentals and muted demand across all real estate segments .

http://www.nypost.com/seven/09242008/postopinion/opedcolumnists/illegal_aliens__the_mortgage_mess_130482.htm There’s one villain that has slipped notice: how illegal immigration, crime-enabling banks and open-borders Bush policies fueled the mortgage crisis. It’s no coincidence that the areas hardest hit by the foreclosure wave – Loudoun County, Va., California’s Inland Empire, Stockton and San Joaquin Valley, and Las Vegas and Phoenix – also happen to be some of the nation’s largest illegal alien sanctuaries.

Our house is the most expensive, can authorize what most of us in our own way of life and a mortgage to be stressful, complicated and boring. Unfortunately, obtaining a loan is more difficult today than it was in the past because of lower property prices in many parts of the country and the fact that some donor funds to lend money to buyers . There is a difference between and approved for a mortgage before, for a mortgage.

By: Dennis Norman The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending September 18, 2009. The report showed an increase of 12.8 percent in mortgage loan applications from the week before fueled by interest rates dropping below 5 percent for the first time since mid-May. Unfortunately for real estate brokers and [...] Related posts: Mortgage applications and interest rates increase By: Dennis Norman The Mortgage Bankers Association (MBA) released its…

A Paradigm Shift to Reduce Shelter Kill Rates Every year, millions of dogs and cats escape from their homes and are never reunited with their families. The entire burden of finding and recovering a displaced dog or cat rests solely on the shoulders of the owner, who, in most cases, is not trained in how or where to search. They are not equipped with or trained in how to use animal capturing tools like humane traps.

I am excited to share great news…August continued to show a rise in the amount of homes sold in Monmouth County. For the past few months we have experienced more sales than the same time frame from previous years. August was amazing, and not typical for August. Despite what many people think..the busiest Fall month is usually October. I am encouraged by the increased sales for several reasons, it is an indicator of the buyer confidence level and shows that it is price driven.

As reported by the government, home prices are rising nationwide, up 0.3 percent in July . Furthermore, versus November 2008, the Home Price Index has clawed back to unchanged. The housing market appears to be holding its own. However, we have to be careful about putting our full faith in the Federal Housing Finance Agency’s data.  It’s somewhat flawed.

U.S. Federal Reserve Building Comment: So, the Fed speaks today and decides to leave interest rates alone. And I’ll tell you why. It is explained quite well in the following Bloomberg article by our dear analyst friends over at Goldman. Fed Has Plenty of Time to Exit as Credit Slows, Goldman Says by Carlos Torres The Federal Reserve has plenty of time to drain the $1 trillion it’s pumped into the banking system because a slowdown in credit and money will restrain inflation, economists at Goldman Sachs Group Inc.

Taubman Centers Inc. ( TCO ) recently said it would record impairment charges of $161 million to $169 million in the third quarter. The real estate investment trust is writing down book values of its The Pier Shops at Caesars asset in New Jersey and Regency Square in Virginia to fair values due to the continued economic downturn. The Pier Shops at Caesars is a 282,000 square feet shopping center in which Taubman owns a 77.5% stake.

Burns Irvine housing consultant John Burns says the U.S. home prices have stabilized for the time-being, but another round of price drops are likely late this year or early in the next. More builders are raising prices than dropping prices in California, a survey of 269 homebuilding executives in 86 metro areas showed. It’s the first time Burns’ real estate consulting firm got that result in the 15 months since it began its builder executive survey.

Roldo Bartimole writes:If there’s going to be an investigation of the integrity of commercial property appraisals here, we ought to also probe tax reductions awarded to downtown property owners by official County and State of Ohio agents.County Treasurer Jim Rokakis, concerned about the validity of commercial property appraisals because of the corruption charges involving County Auditor Frank Russo, has requested a probe by state officials. Rokakis apparently doesn’t trust the values on commercial properties.

Colliers released its third quarter office and industrial real estate updates today. Pierce County’s industrial vacancy rate was down slightly to 8.7 percent from 9 percent a year — with the county remaining the only market in the area to post a positive net absorption rate. The latter means that more people have moved into industrial space than moved out, according to an analyst from Colliers. Industrial real estate high points for the third quarter included the opening of a new Whirlpool distribution center in Frederickson, and Green Mountain Coffee’s expansion in Sumner.