Posts about Real Estate Market Reports as of October 28, 2009

Two economic indicators over the past week indicate that the recovery may have trouble getting off the ground.  Today, the Commerce Department reported a sharp drop in sales of new homes after a few months of tepid increases fueled by a tax break.  The previous month’s figures also got revised downward by 12,000 sales, or almost 3%:Sales of new U.S.

Fifty-four percent of Latinos that participated in a phone survey conducted on behalf of the National Association of Hispanic Real Estate Professionals (NAHREP), expressed a strong interest in homeownership and plan to buy a home in the next five years. The poll was conducted among Latino renters living in the foreclosure-ravaged markets of Las Vegas, Los Angeles, Miami and Phoenix and coincides with a national survey of Hispanic real estate professionals announced this week during its annual member convention in Las Vegas.

There has been a lot written about the mechanics of how to buy a house. You get prequalified for a loan, then perhaps preapproved, and then you look for a home, make an offer, have inspections done and so on. Many people can help you through the process. But what if you can’t get preapproved? What if you have little income, bad credit or other serious problems that prevent you from buying a home? Mortgage loan requirements are being toughened up again now. Once again you might even need a down payment to get a loan.

Via Terry Bonnie Westbrook Westbrook Realty Grand Rapids Forest Hills MI Real Estate (Westbrook Realty Broker-Owner) : Don’t Put Your Home on the Market Until You’ve Read This Report  - Part One Selling your home can be an exhausting experience. Last minute walk throughs, inconvenient calls, price adjust­ment and the possibility of being stuck with two mortgages are real concerns. If you are not completely prepared you could end up losing hundreds, even thousands, of dollars in profit.

1) Realtors under attack and fighting back – It’s something I don’t think about much, but probably should. How safe are we when we go show houses to strangers. 2) How to Stumble Upon to improve your blogging – Stumble Upon is something I used to use a lot, but have not in a while. After reading this I am inspired to download it again and start over. 3) Trulia’s balancing act: considering the needs of all our our users – Trulia admits that real estate agents are not their top priority, that should upset some agents.

Excellence Real Estate postpones IPO… If you wish to view the entire report, visit us at GEO Monitor or contact us This report is provided as part of IIR Group Ltd.’s GEO (Global Equity Offerings) Monitor service, which tracks global IPO activity. Our GEO Monitor is the only comprehensive research coverage of global IPO’s available to the market and provides you with the following key deliverables: Weekly IPO Calendar identifying all up-coming global IPO’s >USD50 mn proceeds

(WSJ) China Investment Corp. has reached a deal to invest up to $700 million in Mongolia-focused Iron Mining International Ltd., the latest move by the sovereign wealth fund to plow cash into commodities. CIC is rapidly deploying its capital this year to try to catch the upside of a global economic recovery by buying into natural resources and property assets. On Wednesday, CIC Chairman Lou Jiwei told a forum that CIC has allocated $110 billion for overseas investments and deployed around half.

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Griffin GA Homes: 1123 Sage Dr, Griffin GA in the The Meadows subdivision, closed on September 20, 2007. It was most recently listed at $269,900 and sold for $263,900 (per Spalding tax records). This home has 2,539 square feet and 4 bedrooms, 3 full baths and 0 half baths. The original list price of this home was $269,900 and was listed on June 22, 2007. This property was on the market for 68 days.

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Griffin GA Homes: 1119 Sage Dr, Griffin GA in the The Meadows subdivision, closed on July 31, 2007. It was most recently listed at $255,000 and sold for $253,000 (per Spalding tax records). This home has 2,808 square feet and 4 bedrooms, 3 full baths and 0 half baths. The original list price of this home was $255,000 and was listed on September 25, 2006. This property was on the market for 278 days.

Yesterday was an okay day for our picks. We only had one buy pick of the day, which was Ultra Proshares Financials (URE). We got into the stock in the morning at 5.65, and we saw the stock trade down to neutral all day. The day at 5.55, which is where we exited because I was not excited about holding the stock overnight, which appears to be a good choice to start the day today. On the flip side, our longer term play was Aetna Inc. (AET). The stock we bought in on Monday at 25.25.

Griffin GA Homes: 1125 Sage Dr, Griffin GA in the The Meadows subdivision, closed on March 13, 2009. It was most recently listed at $239,000 and sold for $219,000 (per Spalding tax records). This home has 3,193 square feet and 5 bedrooms, 3 full baths and 0 half baths. The original list price of this home was $239,000 and was listed on December 5, 2008. This property was on the market for 94 days.

Griffin GA Homes: 1010 Maddox Rd, Griffin GA in the The Meadows subdivision, closed on October 13, 2006. It was most recently listed at $389,000 and sold for $358,000 (per Spalding tax records). This home has 3,329  square feet and 4 bedrooms, 3 full baths and 1 half baths. The original list price of this home was $389,000 and was listed on March 29, 2006. This property was on the market for 194 days.

Griffin GA Homes: 1127 Sage Dr, Griffin GA in the The Meadows subdivision, closed on January 29, 2007. It was most recently listed at $359,900 and sold for $330,000 (per Spalding tax records). This home has 3,338  square feet and 5 bedrooms, 4 full baths and 0 half baths. The original list price of this home was $359,900 and was listed on June 21, 2006. This property was on the market for 202 days.

Griffin GA Homes: 1116 Sage Dr, Griffin GA in the The Meadows subdivision, closed on December 13, 2006. It was most recently listed at $309,000 and sold for $280,000 (per Spalding tax records). This home has N/A square feet and 5 bedrooms, 3 full baths and 1 half baths. The original list price of this home was $309,000 and was listed on January 4, 2006. This property was on the market for 331 days.

Before I get to the point of this commentary, let me make sure that I have things right going in… It was in the latter part of this past July when the mortgage servicers participating in the Home Affordable Modification Program (“HAMP”) were summoned to attend a meeting in Washington D.C.  The administration, the media reported, had recently decided that it was very unhappy with the servicer performance as related to loan modifications, both in general, and specifically related to HAMP modifications, and they were calling the servicers to the table so they could be read the riot act.  There was a new sheriff in town and his name was Timothy Geithner.

In housing market, when the individuals facing economic challenges over the course of a life period. It was very important to homeowner who will able to meet mortgage payments to take immediate steps to address the problem. There also have abundance of homes are made able for rent. These owners are at rest not able to pay for the finance expenses. Guidance to resident facing foreclosure : Several other guidelines, if the property-owner is asking for a high amount of deposit or a couple of months rent in advance you should be disbelieving.

Jerry Mazza Infowars October 28, 2009 Mike the Boss Bloomberg. Let’s take the first scary fact. Mike the Boss Bloomberg (as in Boss Tweed) is spending $85 million on this his third term, after New Yorkers voted twice for two-term limits. A little arm-twisting, a raise for the City Council, and badaboom, they rubber stamped it. But, as the New Times reports , “he’s on pace to spend between $110 million and $140 million before Nov.

W elcome to the Million Dollar Journey Oct 2009 Net Worth Update – The Halloween Edition Halloween is here once again, it’s hard to imagine where time goes.  It seems that the more we age, the faster time passes.   This year, we expect a lot of trick or treaters ringing our doorbell as our street is now fully developed (with street lights and everything!).  I’ve heard rumour that there are over 200 kids in our immediate area, so I guess it would be a good idea to be over stocked with

Business Personal Property Valuation Business personal property (BPP) can be challenging to value because of the limited quantity of data available and primary reliance upon the sales comparison approach. Relatively speaking, a voluminous quantity of data is available when valuing real estate as opposed to valuing business personal property. Many real estate appraisals consider three approaches to value: cost approach, sales comparison approach and the income approach.

East Side 30 and 60 Days Vancouver’s East Side Detached real estate during the current past 30 day period Sept 27 to Oct 27 2009 compared to the previous 30 day Aug 27 – Sept 27, 2009 period saw Total Listings drop from 809 to 689. Ominously significant is that sales dropped from 235 to 113 – more than 50%! Following paths carved recently within neighborhood posts the Sold Average prices acted in a contrary fashion with adjustments upward from the Aug/Sept’s price of $739,518 to the Sept/Oct’s average sold price of $769,260.

Boston Globe Fears of a New Chill in Home Sales New York Times The only hot sector of the real estate market has been foreclosures . Investors and first-time buyers have been competing for these, often creating bidding … Housing Prices May Fall Further Forbes House prices rise, but tax credit is due to end Hartford Courant Homebuilder shares mixed on home prices report The Associated Press Briefing.com  - Wall Street Journal (blog)  - United Press

The latest bubble is about to burst, but this time it’s in the commercial market. Here’s how to see it coming. By Katie Benner Fortune.com NEW YORK (Fortune) — When the FDIC closed Chicago’s Corus Bank last month, it may have signaled the beginning of the next shock to the banking system: commercial real estate defaults. Corus, whose balance sheet was larded with bad construction loans, is just one of many banks that have a slew of this debt on their books.

What’s The Real Estate Market Doing? Do you ever wonder how our real estate market is here in Des Moines? Unfortunately, we spend a lot of time listening to how rough things are in other cities around the country , but too often we don’t really consider what our real estate climate is like. I’m a fan of having as much information available before I take action on any big decisions. I don’t know about you, but I think buying or selling a home is a pretty big dea l .

Here are my Top 10 links from around the Internet at 10am. I welcome your additions and comments below or please send your suggestions for Thursday’s Top 10 at 10 to bernard.hickey@interest.co.nz FYI we don’t have a Pandemic Bonus for interest.co.nz. 1.  You don’t say – Rob Cameron, who is chairing New Zealand’s Capital Markets Development Taskforce, has written an opinion piece in the NZ Herald saying out loud what many investors know: New Zealanders have given up on capital market and the NZX.

Capmark Financial Group Inc. ( CPFNG ), one of the key commercial real-estate lenders in the U.S., along with some of its subsidiaries has filed Chapter 11 protection. The filing adds to the lingering concern that the commercial real-estate market is still struggling.  The company seeks to be allowed to continue to pay its vendors and salaries, and protect the businesses with its customers and partners.  Capmark was created in March 2006 through a leveraged buyout of the commercial real estate assets of General Motors’ finance arm GMAC.

Case-Shiller tells us that Dallas home prices fell at the annual rate of 1.2 % between August ‘08 and August ‘09, which is a smidgen compared to the rest of the world — double digit declines almost everywhere. Only Dallas and Denver are edging closer to positive numbers, our decline at 1.2%, Denver’s 1.9%. Then ZipRealty (Emeryville, CA) tossed out it’s third quarter report to find this quirk:  Grand Prairie, Texas emerged as one of the top ten “hot” markets in the U.S., a hot market being one where accepted offers come in higher than list price.

By Bob Blandeburgo Associate Editor Money Morning The Reserve Bank of India (RBI) said it expects the gross domestic product (GDP) of Asia’s third-largest economy will grow at least 6% in the current fiscal year and that it will begin winding down stimulus measures while turning its attention toward inflation. The RBI now expects a higher rate of inflation compared to its July estimate, but still kept its key lending rate, the repurchase rate at 4.75%. The reverse repurchase or “repo” rate of 3.25% was also untouched.

Comment: 1) These are key excerpts from Bill Gross’s November newsletter at PIMCO. Go to the source if you want to read some of his introspection about being age 65 and staring into the grim reaper’s face. This is one of several items today warning of our current stock market bubble. 2) Pesek, for Bloomberg, writes of Einhorn’s ominous warnings about Japan’s debt level. 3) Garth Turner has a blog in Canada called Greater Fool . This is always a great read and I don’t read it often enough.

Market analysts and government officials would attempt to define overall confidence in the economy utilizing a variety of data. In my opinion, consumer confidence is ultimately a function of two factors: employment and housing. While Uncle Sam has spent trillions of dollars backstopping various sectors of the financial markets and billions in economic stimulus, the size and scope of our employment and housing markets vastly overwhelm Uncle Sam’s ability to ‘prop them up.’ As a result, I am not surprised to see the monthly data on consumer confidence reflecting real weakness.

Greater Boston home prices have risen an impressive 6.5 percent from their lows set last March, according to figures released today by Standard and Poors.  The gain marks quite a near-term turnaround for Boston metro home prices.   The S&P/Case-Shiller Index for the Boston metro area has now risen for the fifth month in a row after falling for the first three months of the year.  (Index results for August 2009 are the most recent released by Standard and Poors.)   Home prices still

Plum Creek Timber Co. Inc. ( PCL ), a real estate investment trust (REIT) owning and managing timberlands in the U.S., reported third quarter earnings of $19 million or 12 cents per share, compared to $69 million or 40 cents per share in the year-earlier quarter. Earnings results beat the Zacks Consensus Estimate by 4 cents.   During the quarter, Plum Creek reported revenues of $294 million vis-à-vis $414 million in the year-ago quarter.

When Will Inflation Really Hit Us? By Terry Coxon, Editor, The Casey Report Most of us are gathered at the station, watching for the Inflation Express to come rumbling in. But we’ve been waiting for a while now. Just when should we expect the big locomotive to arrive and start pushing the prices of most things uphill? We’d all like to know the exact date, of course, but no one can know for sure. Not even a careful reading of the Mayan calendar will help.

Looking for a personal bank account offshore. Maybe you are looking for a Business Account offshore bank. In general, bank accounts outside their country of origin may be considered an offshore bank account. Calling an offshore bank account is much more apparent during the tax season, when the assets and income must be reported to the IRS or other government revenues abroad. This is why some companies and wealthier individuals prefer to open an offshore bank account in small sovereign states which allow account holders to remain virtually anonymous.

Looking for a personal bank account offshore. Maybe you are looking for a Business Account offshore bank. In general, bank accounts outside their country of origin may be considered an offshore bank account. Calling an offshore bank account is much more apparent during the tax season, when the assets and income must be reported to the IRS or other government revenues abroad. This is why some companies and wealthier individuals prefer to open an offshore bank account in small sovereign states which allow account holders to remain virtually anonymous.

More Housing Numbers – Different Data, Same Message Being that it is the fourth Tuesday of the month, today is the day Standard and Poor releases its Shiller-Case housing numbers. They looked at month to month numbers versus the Realtor® Association who basis their findings on a year over year period. According to their statistics, this month’s Case-Shiller home price indices is reporting improved readings for seven months in a row. Essentially, this new report reflects similar data to last month’s figures .

Griffin GA Homes: 106 Riverside, Griffin GA in the Autumn Ridge subdivision, closed on February 14, 2008. It was most recently listed at $159,900 and sold for $162,994 (per public records). This home has 2,150 square feet (per tax records) and 5 bedrooms, 3 full baths and 0 half baths. The original list price of this home was $159,900 and was listed on August 5, 2006. This property was on the market for 545 days.

Continuing where I left off we are going to dive straight into how you can get a good credit rating. To get a good credit rating you have to make loan and bill payments and minimum credit card payments on time. By making timely payments you are reflecting how responsible you are when given credit to use. Your credit rating will be favorable each time it is calculated. If you consistently miss payments or make late payments, it will lower your rating and your credit worthiness.

Over 50% of new home builders interviewed recently said that the new rules for appraising their houses has either killed the sale or made them revisit pricing and design.   The Fed had hoped that it’s new appraisal regulations would make it more fair for anyone buying a house to get an accurate appraisal. However, Federal actions intended to stabilize inflated real estate prices that led to last year’s financial meltdown are instead depressing prices and killing some sales in an already weak market.