Posts about Real Estate Market Reports as of October 3, 2009

by Brad Morgan Buying a new home can be a scary process, but in the end, it is very satisfying. There is nothing satisfying, however, about going into foreclosure. Avoiding foreclosure often seems like a futile situation, as many who own a home have no idea what to do when things turn sour. In this economic situation, more and more people are losing their homes. Avoiding foreclosure is a difficult thing to comprehend, but an even more difficult thing to pull off.

October 3, 2009 | By Brad Morgan In Finance | by Brad MorganThe first thing you may feel when you buy a new home is excitement. Then the fear may set in when you realize that you will not only be responsible for paying for any repairs and for the general upkeep on your home, but that you’ll also be responsible for avoiding foreclosure. Foreclosure is a scary thing for a homeowner, but even the best home owners suddenly discover that they are in need of a little help to keep their home.Avoiding foreclosure is a difficult thing to comprehend, but an even more difficult thing to pull off.

Market Report for $1,000,000+ homes Have you ever wondered what homes have recently sold in Colorado Springs in the higher end market? Overall, there were 2 sales topping $1 million during the month of September 2009. Related Post:  What can I buy for $100,000? 8 Berthe Circle – Sold on September 28, 2009 for $1,025,000 According to the description in the MLS:   Charming interior.  Main level living with beadboard ceiling s & hand-hewn beams.

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.

US Dollar Overdue for a Technical Bounce, But Fundamental Reversal… The dollar was able to relieve the pressure of suffering its worst trend on recent record by clawing out the first bullish close in eleven consecutive trading days; but that does not mean the burdened currency is necessarily primed for a true reversal. While this currency is arguably oversold on a fundamental basis; the same drivers that ushered it to its yearly low last week are still in play.

Hmm.  September MLS® stats are in for our market area and it bears out what economists have been saying for the last few weeks and that is, that the recovery from the recession is a soft one.  According to the data, we’ve lost some of the steam we saw over the summer months.Sales •  Unit sales in the Georgian Triangle were up 8% over September ’08 but down 12.9% from both July and August levels.

RT @mattgoyer: New blog post: Brix Auction Results: $344-$500/Sq. Ft. http://bit.ly/twuKP # Seattle Times on Mastro Bankruptcy: Hundreds of local investors lose big as real-estate magnate falls http://is.gd/3Jz2L # Zillow + Windermere = BFF http://is.gd/3Lb97 # Interesting take on some possible unintended consequences of the $8k homebuyer tax credit: http://is.gd/3LRvd # Only 2 of 20 Case-Shiller tracked cities didn’t show increasing home prices from June to July.

The Caged Bird No bird is ever a free bird, for nature creates the bars, Of a far wider, wilder, crueller cage than we, Would ever seek to construct for a caged bird, A cage of high sky and hawks and hunger, A cell of frost and famine, disease and drought, Where every song is a lament and the dawn is death. Beneath an old oak, stripped naked by the frost, I found a goldfinch, a tiny exquisite spark, Of distant summer, nestled in a sea of frozen grass, Its wings were folded, powerless and still, Its beak open as if to sing, but no song sprang forth, Only silence, as the forest slept away its death.

The Indian hotel industry will almost double the number of rooms from the current levels in 3-4 years by adding an estimated fifty-five thousand rooms, as per a study by consulting firm HVS India. The development of new rooms is going to be led by regional real estate players and hospitality firms as most large real estate developers have abandoned or scaled down their expansion plans. The study revealed that fewer new rooms were announced last year but developers started work on a higher proportion compared to 2007-08.

by Marvin Vincent There are a lot of things to consider when looking in the nationwide real estate market. As a home buyer, you should be looking at all of your options. Be an informed and well educated buyer, and you will be able to make the right decisions quickly and confidently. As use of the internet has increased, so has its value in connecting service providers with home owners. Real estates leads are generated from one of the companies many websites or blogs.

Peter SchiffCampaign For LibertySaturday, Oct 3rd, 2009 For those market boosters who are prattling on about the possibility of a “jobless recovery,” I offer an invitation to join me for a breakfast of “fat-free bacon,” “eggless omelets,” and “no-carb bread.” As unappetizing as such a meal may sound, it would nevertheless offer more substance than the oxymoronic concept of an economic resurgence without job creation.Those who do cling to the absurd belief that, absent exponential productivity gains, the economy can expand while workers are being laid off will undergo a massive test of their convictions now that it’s clear the employment picture is bleak.

Peter Schiff Campaign For Liberty Saturday, Oct 3rd, 2009 For those market boosters who are prattling on about the possibility of a “jobless recovery,” I offer an invitation to join me for a breakfast of “fat-free bacon,” “eggless omelets,” and “no-carb bread.” As unappetizing as such a meal may sound, it would nevertheless offer more substance than the oxymoronic concept of an economic resurgence without job creation.

Washington’s Blog Saturday, Oct 3rd, 2009Why isn’t the government breaking up the giant, insolvent banks?We Need Them To Help the Economy Recover?Do we need the Too Big to Fails to help the economy recover?No.The following top economists and financial experts believe that the economy cannot recover unless the big, insolvent banks are broken up in an orderly fashion:Nobel prize-winning economist, Joseph StiglitzNobel prize-winning economist, Ed PrescottDean and professor of finance and economics at Columbia Business School, and chairman of the Council of Economic Advisers under President George W.

Washington’s Blog Saturday, Oct 3rd, 2009 Why isn’t the government breaking up the giant, insolvent banks? We Need Them To Help the Economy Recover? Do we need the Too Big to Fails to help the economy recover? No . The following top economists and financial experts believe that the economy cannot recover unless the big, insolvent banks are broken up in an orderly fashion: Nobel prize-winning economist, Joseph Stiglitz Nobel prize-winning economist, Ed Prescott Dean and professor of finance and economics at Columbia Business School, and chairman of the Council of Economic Advisers under President George W.

Why isn’t the government breaking up the giant, insolvent banks? We Need Them To Help the Economy Recover? Do we need the Too Big to Fails to help the economy recover? No . The following top economists and financial experts believe that the economy cannot recover unless the big, insolvent banks are broken up in an orderly fashion: Nobel prize-winning economist, Joseph Stiglitz Nobel prize-winning economist, Ed Prescott Dean and professor of finance and economics at Columbia Business School, and chairman of the Council of Economic Advisers under President George W.

The New Sabah Times reported that housing developers in Sabah may be able to pay less electricity capital contribution pending the outcome of a meeting with Sabah Electricity Sdn Bhd (SESB) this month. I hope the outcome will be positive as the developers’ construction costs will be lesser and this will benefit house buyers. In other words, new homes will be cheaper by RM2,500 to RM4,500. I guess this will bring down the value of homes in the secondary market too.

October 3, 2009 in Real Estate RMLS Stats & Market Updates | Tags: All About Portland Oregon Real Estate, Betty Jung, www bettyjung.com The Wall Street Journalon Friday reported that Portland, OR is one of the 10 cities most likely to have one of the biggest rebounds:Which Cities Will See Biggest Rebound? Which cities are likely to be the hottest post-economic downturn destinations for young, brilliant, and highly mobile workers? The Wall Street Journal surveyed six trend-spotting experts and they chose cities based on economic diversity, lifestyle and their own personal prejudices.  Here’s the top-10 list:1.

The 2007 FBI Mortgage Fraud report explains how an unscrupulous real estate developer commits mortgage fraud with a seller in a builder bailout scheme. Say the developer built a house that normally sells for $200,000.  In a declining market, the builder fears a fair market sale will not cover the bridge loan for construction costs.  The builder offers a no money down incentive to encourage a cash poor buyer to make an bid.  The builder inflates the house price from $200,000 to $240,000 and

by Jerome Pennix Bulk REO Investing is proving to be one of the most profitable fields of investment during this year and potentially beyond. Bulk REO Investors profit by buying groups (commonly called portfolios) of properties from lenders who have foreclosed the properties and have urgent desire to reduce pressure on their balance sheets. Due to the urgency of the balance sheet needs of the banking institutions coupled with the investors ability to purchase a package of REO properties rather than singular properties, its quite possible for a well-financed bulk reo investor to acquire REO packages at extremely attractive deals.

by Jerome Pennix Bulk REO Investing is proving to be one of the most profitable fields of investment during this year and potentially beyond. Bulk REO Investors profit by buying groups (commonly called portfolios) of properties from lenders who have foreclosed the properties and have urgent desire to reduce pressure on their balance sheets. Due to the urgency of the balance sheet needs of the banking institutions coupled with the investors ability to purchase a package of REO properties rather than singular properties, its quite possible for a well-financed bulk reo investor to acquire REO packages at extremely attractive deals.

Well, despite a few bright spots in the world’s largest economy, reports released throughout the week continued to indicate that while a recovery may be in the works there are still many problem areas which need to be tackled before the U.S. economy is fully healthy again. As a result, stock markets fell for the second week in a row.   The Dow Jones Industrial Average closed Friday’s trading session down 21.61 points, or 0.23%, to 9487.67. For the week, the index slipped 177.52, or 1.84%.

This post provides links to a number of thought-provoking articles I have read over the past few days that you may also find interesting. • Matt Taibbi (Taibblog): An inside look at how Goldman Sachs lobbies the Senate , September 29, 2009. Samuel Brittan (Financial Times): A cool look at the current deficit hysteria , October 1, 2009. In the early Victorian period the debt ratio was nearly 200 per cent and almost reached that level again in the early 1920s.

Companies in the United States are shedding more jobs, pushing the country’s unemployment rate to a 26-year high of 9.8%.The US Labor Department said on Friday that employers cut 263,000 jobs in September, with companies in the service industries — including banks, restaurants and retailers — hit especially hard. This is the 21st consecutive month of job losses in the country.The United States has now lost 7.2 million jobs since the recession officially began in December 2007.

Okay, I’ll admit, I’m kind of geeky when it comes to these things, but before I sign off for today, I want to let you in on a couple of things: This isn’t the same market it was 2 years ago.   I know, no big surprise. A new, different and substantially tougher market impacts not only mortgage lending, but also real estate, investment choices and whether you can afford to put your kids through college and still have enough to retire on.

by vic on October 2, 2009 Brought to you by free homeowner insurance quotes. In North American countries and in the UK, Home owners and Home buyers are constantly hiring the services of a Property Assessor. This is due to the simple reason that Homes could never be sold nor bought without first being properly inspected by a professional. Property Survey has become an important requirement when buying and selling a house.  Propertys need to undergo non-invasive Analysis to determine their current condition.

Eager to know the top cites in America where one can safely invest? Here are the best real estate markets in the entire country according to a recent report from Business 2.0 Magazine. The November 2006 edition of the magazine lists the top ten cities that are ideal to buy a home. These are – Panama City and Vero Beach in Florida, Bridgeport in Connecticut, Lakeland in Florida, McAllen in Texas, San Luis Obispo in California, Wilmington in North Carolina, Manchester in New Hampshire, Fort Collins in Colorado and Atlanta in Georgia.

Some people when thinking of shadow inventory have images of poor rundown homes in suspect neighborhoods.  Yet the reality of shadow inventory sometimes include some of the most priciest and beautiful real estate in the world.  Take for example the Wells Fargo executive who was using an exclusive Malibu foreclosure for private parties.  The initial […] Some people when thinking of shadow inventory have images of poor rundown homes in suspect neighborhoods.  Yet the reality of shadow inventory

Starwood group likely wins Corus assets: source Reuters The Federal Deposit Insurance Corp (FDIC) is running the auction, which is being watched for its potential impact on the commercial real estate market. … Starwood-Led Group Likely Winner of Corus Assets Wall Street Journal Starwood Close to Deal For Corus Assets New York Times Starwood group likely winner of Corus auction: report Reuters all 23 news articles »

NEW YORK (Reuters) – A group of investors including Starwood Capital Group and private equity firm TPG TPG.UL are the likely winner of the auction for assets of failed Corus Bank , a source familiar with the situation said on Friday. The Federal Deposit Insurance Corp (FDIC) is running the auction, which is being watched for its potential impact on the commercial real estate market.

Fifth Third Bancorp ( FITB ) expects its loan charge-offs to increase in the third quarter, primarily due to the increase in charge-offs associated with the Shared National Credit (SNC) examination that has been recently conducted by regulators. “The company, which intends to release its third-quarter earnings results on Oct 22, also expects its non-performing assets to accelerate, though interest income and margins are expected to improve in the second half of 2009.

Volume 3, Oct. 2, 2009 Welcome to the third edition of Drew Sineath’s “Up the Creek,” a bi-weekly community newsletter with the latest and greatest on what’s going on in Goose Creek and the rest of the Lowcountry. “Up the Creek” is the paddle to navigating your weekend activities. Find community events, garage sales, new business openings, community news, and an update of the real estate market in the Creek all in one place. We hope you find this information helpful.

1) “If laid-off workers who have settled for part-time work or have given up looking for new jobs are included, the unemployment rate rose to 17 percent, the highest on records dating from 1994.” “The average hourly work week fell back to a record low of 33 in September. That figure is important because economists are looking for companies to add more hours for current workers before they hire new ones.” 2) G-7 Finance Chiefs Campaign for ‘Strong Dollar’ “Finance chiefs headed for Group of Seven talks in Istanbul pushing for a “strong dollar” amid concern its slide will impede their recoveries from the worst global recession since World War II.” 3)”  The U.S.

NEW YORK (Reuters) – A group of investors including Starwood Capital Group, Wilbur Ross and TPG TPG.UL is the likely winner of an auction of assets of failed Corus Bank , the Wall Street Journal reported on Friday, citing people familiar with the matter. The Federal Deposit Insurance Corp ( FDIC ) is running the auction of Corus’ condominium loans and other assets, which is being watched for its potential impact on the commercial real estate market. Bank of America Corp.

Chelsea Therapeutics International Ltd. (CHTP) Chelsea Therapeutics International Ltd. (Nasdaq: CHTP) is a biopharmaceutical company developing prescription products in multiple therapeutic categories such as RA, psoriasis and other inflammatory conditions. These high-potential global opportunities are balanced by the development of the company’s orphan drug candidate Droxidopa, an oral therapeutic currently approved and marketed in Japan, for the treatment of neurogenic orthostatic hypotension.

2009 Mercedes ESF MERCEDES-BENZ ESF 2009 EXPERIMENTAL SAFETY VEHICLE Stuttgart – 2009 is a year in which Mercedes-Benz celebrates several anniversaries in the safety field: in August 1939 the safety pioneer Béla Barényi started his work in Sindelfingen. He invented for example the principle of the crumple zone, a trailblazing innovation which entered series production at Mercedes-Benz in 1959.

October 2nd, 2009 | No Comments | Posted in Economy, Mortgage Real estate investors continued to fall behind on their home equity loan payments in Q2 2009, as delinquency rates hit record quarterly highs, according to a report released on Thursday by the American Bankers Association (ABA).The findings, which were unearthed by the ABA’s Consumer Credit Delinquency Bulletin, found that the rate of delinquent payments – which the association defined as a payment that is 30 days or more overdue – for home equity loans rose 0.49 percentage points from 3.52 percent to 4.51 percent.Overall, record quarterly highs were seen in delinquency rates for two other key loan categories as well.

(Insight on the job market and economic recovery, with Larry Summers and CNBC’s Maria Bartiromo.) Visit msnbc.com for Breaking News , World News , and News about the Economy More job losses expected. Visit msnbc.com for Breaking News , World News , and News about the Economy Nation sheds more jobs than expected The U.S. unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected.

Good Morning Robert, FRI 02 Oct 2009  today’s headlines President and First Lady back Chicago 2016 bid U.S. Sept non-farm payrolls fall, jobless rate up “Super typhoon” bears down on flood-ravaged Philippines Video shows Israeli soldier well; prisoners freed Aid trickles in as Indonesia quake toll tops 1,000 Fresh quake near Tonga, tsunami toll nears 200 David Letterman victim of $2 million extortion over affairs Climate talks stall on targets, finance U.S.

Everywhere you look, real estate is in the news.  In recent years, web sites like Zillow and Trulia have become increasingly popular sources for updates on property values, and articles about the housing market are a mainstay of traditional media outlets.  Until recently, just about all news focused on the decline of home values nationwide.  Now some magazines have begun to report positive news, while others continue to ring the death knell for real estate.  How can you sort out what’s accurate?  Are values going up or down?  What does this mean for our community?

by Peter Schiff, president of Euro Pacific Capital and author of Crash Proof 2.0: How to Profit from the Economic Collapse The Recovery That Isn’t For those market boosters who are prattling on about the possibility of a “jobless recovery,” I offer an invitation to join me for a breakfast of “fat-free bacon,” “eggless omelets,” and “no-carb bread.” As unappetizing as such a meal may sound, it would nevertheless offer more substance than the oxymoronic concept of an economic resurgence without job creation.

Want to Refinance? Heed These 10 Appraisal Tips Refinancing in today’s credit-crunched market can be challenging at best. A successful refinance all begins with the appraisal, used to set the maximum amount you’re allowed to borrow against your home. The problem is, in today’s market, sinking home values are often lowering appraisals as well. If you are considering refinancing your home, heeding these important tips on appraisals before proceeding can improve your refinancing options and save you time and money: 1.

by Arnulfo Snider The best time to choose a short sale is when you owe more on your home than it is worth. Let’s say that your home is worth 450,000 and you owe 470,000 then a short sale would be the way to go. Obviously, if you do not have to sell your home, you could wait out the market and hope for a turnaround in real estate values. If this is not the case then you have 3 options to choose from. One, is to bring money to the table. Say you sell your home for a $10,000 deficit, you would have to come up with that money immediately for the bank.

October 2, 2009 | By Arnulfo Snider In Finance | by Arnulfo SniderWhen 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 this is not the case then you have 3 options to choose from.

According to media reports, leading financial data, news and analytics provider Bloomberg is the frontrunner in the race to acquire BusinessWeek. McGraw-Hill Companies ( MHP ) also considers Bloomberg as the best bidder for the struggling magazine as it views that both the companies are at the helm of the financial media industry. Bloomberg had reportedly been approached to acquire BusinessWeek earlier, even before the start of the official auction process in July.

October 2nd, 2009 | No Comments | Posted in Commercial Real Estate, Featured Article Sensing the continued financial crisis that is currently hitting the commercial real estate market, Goldman Sachs is advising its clients to not get involved with banks that deal heavily with commercial properties.The warning, which was issued Tuesday by the global investment banking and securities firm, came after figures showed a 25 percent drop in appraisal values and forecast an eventual decline of up to 42 percent from high levels recorded in 2007, according to Reuters.

The Federal Reserve says it’s “cautiously positive” about the economy in its widely watched regular report called the Beige Book. Eleven of the Fed’s 12 regions called economic activity in the area are “stable,” “showing sings of stabilization,” or “firmed.”  Analysts said the economy is growing in the third quarter at an annual rate of 3 percent to 4 percent because businesses are spending more. But the market for homes continues to be weak. In most areas, buyers are first timers and others purchasing the lowest-cost properties.

Boston Properties, Inc. ( BXP ), a real estate investment trust (REIT), is facing severe criticism from the public as well as the state agency of the Boston Harbor Association for reneging on a promise. Boston Properties had earlier promised to provide free public-performance space on the first floor of its Russia Wharf development project – an 854,000 square feet mixed-use project along Boston’s waterfront.

Technology outsourcing and consulting firm Accenture Plc. ( ACN ) reported fiscal fourth-quarter results after the closing bell yesterday. The company’s GAAP net income fell to $254.7 million, or 39 cents per share, from $434.8 million, or 67 cents per share a year ago. Excluding a restructuring charge, earnings per share came in at 63 cents, which matched the Zacks Consensus Estimate. The New York-based company said total revenues slipped 16.1% year over year to $5.5 billion, while net revenues, excluding reimbursements, declined 14.2% to $5.15 billion.

A new white paper was released yesterday by the Cato Institute which boldly claims that the cause of the housing bubble isn’t what everybody else has been talking about for the past few years. In this policy analysis, Randy O’Toole argues that the blame rests on a regulatory system known as growth management , saying Some people blame the Federal Reserve for keeping interest rates low; some blame the Community Reinvestment Act for encouraging lenders to offer loans to marginal homebuyers; others blame Wall Street for failing to properly assess the risks of subprime mortgages.

Global real estate markets are showing tentative signs of growth in stabilizing according to the Global Real Estate Trends report, released on October 1st by Scotia Economics. Scotia Economics believe that the improving sentiment in global residential real estate markets is sustainable. According to the report, the firming of prices is evidence of growing confidence in sustainability of global economic recovery. With historically low borrowing costs, increased affordability and home buyer tax incentives in many countries, there is a good revival in housing demand.