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

Real Estate Advisor asked: Foreclosures continue to rise across America. According to the latest annual report of http://Foreclosures.com, the number of foreclosures filed nationwide in 2006 had increased by 51 percent from the previous year, with foreclosure filings nearly topping one million. When compared to 641,000 foreclosure filings made in 2005 nationwide, almost 971,000 foreclosure filings were reported last year.

Yes. That is right. I was surprised to read the report from the Star online today. Based on the Budget speech by the Prime Minister yesterday, I thought that a fixed tax  rate of 5% would apply to gains from the disposal of real property from 1 January 2010. Here is the screen shot of the relevant paragraph taken from the budget speech (click on the image for better view). The Star reported that the Malaysian Government has proposed to reimpose real property gains tax (RPGT) for gains arising from property disposal.

Climate and Capitalism previously published one section of Marc Bonhomme’s speaking notes for a presentation he made to the Association de défense des droits sociaux du Montréal métropolitain on October 13, on “Which Way Out Of the Crisis?” Thanks to Richard Fidler, we now have a translation of his notes for the entire talk. A. BACK TO NEOLIBERALISM This option means going back to pure competition, company against company, country against country. At the company level, minimizing costs, essentially wages.

Our entire news staff seems to work only for SoD and sometimes for BB (If you have any doubts, just check the volume of news those 2 put out) . I have managed to come up with a couple of interesting items. As always, whatever you came across is welcome. Healthcare Clustref#@k We have been burned so many times that we will just have to wait and see.

Good morning and welcome to this weeks edition of the millionaire mind and making money online blog carnival. Id like to introduce some of my finance blogging friends. We have had an extremely positive response this week so have a large amount of interesting articles. Learn how to increase wealth and become financially free. We still start with Steve Cowall presenting Is AllXClub A Scam? posted at AllXClub .

Did the market merely take a breather this week or is the ‘little engine that could’ getting tired? Are we distinguishing the winners from the laggards? Are the cracks in our economic foundation repairing or are some just too large to hold back the flow of red ink, i.e. embedded losses? Perhaps we are experiencing all of the above as we continue our journey along the new and varied trails of our economy. Let’s review the major economic statistics for the week, along with the month to date returns across a wide array of market segments.

Quiet week at the IHB. The housing market is facing supply shortages, low volumes and high prices. When will this change? Irvine Home Address … 7 Heritage Irvine, CA 92604 Resale Home Price …… $359,000 You may be an ambassador to England or France You may like to gamble, you might like to dance You may be the heavyweight champion of the world You may be a socialite with a long string of pearls.

 Diamonds  
Investors are in a quandary about where to put their money. The real estate bubble has burst.  The stock markets are falling.  Economic experts say the global economy is teetering on the edge of a grand recession.  What’s an investor to do?
Precious Metals And Gemstones
When wise investors don’t trust the economic system created by humankind, they look to the assets Mother Nature creates: precious metals like platinum, gold, copper and silver, and precious gemstones like certified diamonds.

Investor Report: Investment Buying Tips Foreclosures and bank REOs are pulling a new wave of novice investors into the market, some of whom “are just plain clueless, to put it bluntly,” says Robert Cain, a long-time rental market and real estate management specialist based near Tucson, Arizona.

Campaign contribution claims sent to SLEDMYRTLE BEACH, SC (WMBF) – The South Carolina Law Enforcement Division is looking at a complaint on controversial campaign donations made to a trio of elected city officials.  According to Gov. Mark Sanford’s spokesman Ben Fox, the governor’s office received information from a citizen about the campaign contributions and were asked to investigate.

[click to expand] Not surprisingly, existing home sales jumped this month. Here’s NAR’s existing home sales release and the data . including single-family, townhomes, condominiums and co-ops – jumped 9.4 percent to a seasonally adjusted annual rate1 of 5.57 million units in September from a level of 5.10 million in August, and are 9.2 percent higher than the 5.10 million-unit pace in September 2008. Sales activity is at the highest level in over two years, since it hit 5.73 million in July 2007.

Do you enjoy uploading videos that you made to the YouTube website?  If so, you may be pleased with all of the traffic that you get.  YouTube is known to get thousands of visitors a day.  For you, this means that your YouTube videos may be watched by thousands of people or more!  As much traffic as YouTube brings you and your videos, you may be looking for more.  If you are, you will want to examine other ways to market your YouTube videos.  Just a few of the many marketing approaches that you

There were few major surprises in the economic news this week, and little change in the stock market. While there was a great deal of daily volatility, mortgage rates ended the week unchanged. A flood of housing market data was released during the week, and most of it reflected improvement in the sector. The biggest unexpected news came from the September Existing Home Sales report, which jumped 9% from August to the highest level since July 2007.

According to a press release from the National Association of Realtors® , home sales are on a steady incline.  NAR’s October 23, 2009 release confirmed a 9.4 percent increase in existing-home sales from the month of August to September .  Even more impressively, home sales have peaked at the highest numbers they have seen over a two-year time period .

Vice Chairman Donald L. Kohn At the Federal Reserve Bank of Boston 54th Economic Conference, Chatham, Massachusetts October 23, 2009 International Perspective on the Crisis and Response I am pleased to participate in the conference discussion of the international dimensions of the recent financial crisis. 1 A striking feature of the crisis was its global character. With markets for financial assets increasingly integrated, often by the activities of globally active banks, no country escaped completely unaffected.

U.S. Economy: Existing Home Sales Surge on Rush for Tax Credit By Bob Willis Oct. 23 (Bloomberg) — Sales of existing U.S. homes surged a record 9.4 percent in September as Americans rushed to take advantage of a tax credit for first-time buyers before it expires next month.

According to Russell Investments, as of September 30, 2009, core inflation is currently at 1.40%, below the Federal Reserve’s unofficial target range of 1.50% – 2.00%. Hence, many have concluded that inflation is not present and perhaps not an imminent threat.  We, however, believe otherwise.  We, at Hennion & Walsh , believe that the threat of inflation may be upon us already and the impact of inflation could have a significant impact on the economy and on the portfolios of individual investors.

Spurred on by a last minute rush to get in on the “first-time home buyer” tax credit, sales of existing homes jumped by 9.4% in September to a seasonally adjusted annual rate of 5.57 million, up from 5.10 million in both August and September of a year ago. Rapidly plunging mortgage rates also played a role, with the average rate at 5.06% in September versus 5.16% in August and 6.04% a year ago.

Chairman Ben S. Bernanke At the Federal Reserve Bank of Boston 54th Economic Conference, Chatham, Massachusetts October 23, 2009 Financial Regulation and Supervision after the Crisis: The Role of the Federal Reserve The theme of the Federal Reserve Bank of Boston’s Economic Conference this year–reevaluating regulatory, supervisory, and central banking policies in the wake of the crisis–is certainly timely. Not much more than a year ago, we and our international counterparts faced the most severe financial crisis since the Great Depression.

  View of Fort Lauderdale Waterway This summer, Forbes.com reported a list of what they found to be the top ten cities in the United States for housing recovery based on the findings defined by the US Office of Management and Budgets (OMB) and Zillow.com.  Forbes researched 161 metropolitan areas where sales had increased and foreclosures as a percentage of overall sales had been lowest.

The coastal and southern Maine regions including the counties of York, Cumberland, Sagadahoc and Lincoln saw more of the same for the month period ending in September 2009.  Housing inventories continue to decrease as do the days on market for residential real estate!  Median prices were down a bit more significantly year over year this September but on a 3 month rolling average, prices are off about 10%.  The markets have for the most part been pretty stable since the start of the summer and since January 1, little pricing decrease has been seen and volume has been steadily increasing, both great signs for a continued improvement.  The full Maine housing report can be seen here.

There has been so much negative press of late in the national media about Las Vegas Real Estate Rebound or not Rebounding. We’ve been a voice in the wilderness at times, telling our clients and media contacts (interviewing us) about Las Vegas Real Estate Rebounding, coupled with facts and figures, when we are confident about these.National Numbers Underscore Market ReboundToday’s National Numbers are certainly indicative of a broader rebound across the country, which we are pleased to report and analyze.

The positive earnings announcement by Wells Fargo on Wednesday was marred by a sell recommendation from Dick Bove and a lot of chatter about credit writedowns and mortgage servicing rights (MSRs). I wanted to add a few words about the report, MSRs, and bank stocks more generally. First of all, this has been a very good quarter for bank earnings. Many of the big names globally have surprised to the upside. this includes Goldman Sachs, Morgan Stanley, JPMorgan Chase, Wells Fargo, US Bancorp, SEB in Sweden, Credit Suisse in Switzerland and on down the line.

With the release of the Virginia Association of Realtors’ Third Quarter Homes Sales Report , I thought it would be interesting to see how Charlottesville’s and Albemarle’s home sale data looked over the years. For total homes sold in Charlottesville and Albemarle: Single Family Homes Sold in September in Charlottesville and Albemarle: For detailed Charlottesville Virginia real estate market reports, look no further: The 3rd Quarter “Nest Report” – (nearly) Third Quarter Market Report for Charlottesville Region Additionally, if you would like to help me vet some new market reports for the Charlottesville area, please let me know .

Photo courtesy of Swanepoel Social Media Report 2010 The Titanic shift from traditional media to social media has confounded businesses of every type. Luxury real estate marketing professionals are no exception. With the Do Not Call laws, telemarketing is no longer an option. People are tossing direct mail in the garbage more so now than ever, without even looking at it. The ability to record TV programs and “zip through” commercials while on mute has significantly reduced the effectiveness of advertising on broadcast TV.  Even banner ads are being ignored online.

Home sales rebound to highest level in 2 years — Sales of existing homes bounce back to their highest level since July 2007, boosted by first-time homebuyers. Prices continue to fall – CNN Money Supreme Court watch – Pay caps. An upcoming case will provide the first glimpse into how the justices feel about capping compensation – CNN Money (Fortune), Roger Parloff IRS doled out $620 million to ineligible filers: Auditor. Agency paid home-buyer tax credit to taxpayers as young as 4, report says.

After I published the recent story on the case against servicing agent MERS in the Kansas Supreme court , I noticed a lot of chatter about some mortgage servicing line items in Wells Fargo’s earnings report. So I wanted to quote a few blurbs from the Kansas Appeals Court and Supreme Court decisions as background for another post on future mortgage service revenue streams in banking. The Appeals Court case had a narrow focus as to whether MERS was a ‘necessary party’ in this particular foreclosure case.

Well, this would be a very good report if it weren’t for a couple of things: It’s a government subsidized boost to the market.   As we talked about before, the National Association of Realtors is estimating that there would be 334,000 less sales this year if it weren’t for the $8,000 tax credit.   Oh, and the window of opportunity on the tax credit has almost closed.   If you don’t sign a purchase agreement by a week from next Monday  (November 2), you’ve got almost no chance of getting things closed by the end of November.   Keep in mind that the Thanksgiving holiday weekend happens right at a crucial time for closings.

The 3rd quarter of 2009 has already come and passed! Our brokerage, Kline May Realty , sends out a market report each quarter, and because this one is full of promising statistics for our local real estate market, we decided to share it with you. ———————————————————————————— This quarterly market report and commentary is provided by Kline May Realty to our agents and clients.  All market data has been drawn from the Multiple Listing Service of the Harrisonburg – Rockingham Association of REALTORS and includes information on transactions involving a REALTOR.