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Market Conditions and Outlook
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User rated daily articles on declining and advancing real estate markets, mortgage news, creative owner financing, realty facts, and property owner opinions |
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2010 Home Show continues through Sunday - Crossville Chronicle |
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2010 Home Show continues through SundayCrossville ChronicleLease purchase w/owner financing. Wi...>MORE Up To 2 Months Free, Limited Time Offer!! 2 and 3 Bedrooms available, Newly Remodeled, Kid Friendly Playground ... |
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Yes, Virginia, There Is a Spring Selling Season |
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| After polling builder communities in North Carolina, Virginia, Florida, Texas and California’s Inland Empire, Ticonderoga Securities Analyst Stephen East says the spring home-selling scene is coming along nicely. |
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Santa Clara County Housing Market Continues to Transition Towards Recovery - PR Newswire (press release) |
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Friday Diversion: Sarkozy’s Ex-Wife Buys; Pete Sampras Sells |
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Tennis star Pete Sampras lists a 20 acre property in the gated Lake Sherwood community in Thousand Oaks, Calif., for $25 million.
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Is California’s High-End Housing Market in Trouble? |
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| While sales of low-priced foreclosed homes are sparking bidding wars in some areas and there's talk of healing in California, a huge storm cloud hovers over the Golden state: the high-end real estate market. |
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Have an Eco-Friendly Home? Make Sure Buyers Know It |
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| In tight real estate markets one sure thing is that sellers have to highlight the finest qualities of their homes. Yet, sometimes the very benefits buyers might be interested in are overlooked.
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How to Prospect Expired listings |
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| Prospecting expired listings can be the core of anyone's business in the real estate field. You can create a system that will give you repeatable results for your effort. Let's look at these three very positive characteristics in prospecting expired listings.
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Mortgage Rates Drop Slightly in Freddie Mac Weekly Survey |
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| Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.95 percent with an average 0.7 point for the week ending March 11, 2010, down from last week when it averaged 4.97 percent. Last year at this time, the 30-year FRM averaged 5.03 percent.
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Paterson Scraps Aqueduct Deal, Hard Rock’s Interested |
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| The office of embattled New York Governor David Paterson scrapped a deal with Aqueduct Entertainment Group (AEG) to develop a casino at the Aqueduct Race Track in Queens, poised to be the Big Apple’s first gambling destination. |
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Red Cross hosts night of laughs - Crossville Chronicle |
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Pulte Offers To Buy Back Damaged Homes in Texas |
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| Pulte Homes offered to purchase 27 San Antonio homes damaged by a January retaining-wall collapse that created crevices up to 15 feet deep and eight feet wide. |
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FHA Says Higher Down Payments Risks Double-Dip Price Decline |
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| Responding to critics, officials of the Federal Housing Administration are set to warn in Congressional testimony Thursday that a double-dip decline in housing prices may result from even a slight increase in minimum down payments on FHA-backed loans. |
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BofA and the Parrot: Bird’s Eye View of the Foreclosure Mess |
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| As we reported Wednesday, BofA apologized for an incident in which its contractors entered a woman's home near Pittsburgh while she was out, cut off utilities, padlocked the door and confiscated her pet parrot. |
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Tighter Requirements for FHA Loans Loom |
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| It's about to get tougher to qualify for a Federal Housing Administration (FHA) mortgage, often considered the replacement loan for the collapsed subprime market.
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Replace Short Sales With Your "New Homes" Team |
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| Here's a tongue twister: If Sally sells short sales down by the sea shore how many sales will Sally sell short if Sally doesn't close any short sales?
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Moreira on Success: Be Flexible, Willing to Change and Never Stop Learning |
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| Peter L. Mosca, host of Income Property Investment Talk dot com, shares an excerpt from his interview with Steven Moreira, CCIM, CIPS, and CEO and sole stock-holder of the 4-Quadrant Magic Companies, who provides a comprehensive look at the financial markets, financing, and what is happening on the streets in the marketplace, right now in terms of funding and lending.
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Silverstein Building in ‘Imminent Default’ |
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| Another New York office building is in “imminent default." |
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Senft recipient of FGUMC Towel & Basin Award - Crossville Chronicle |
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An Extreme Makeover Home’s Mysterious Raffle |
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| It appears that a family that received an Extreme Makeover home in suburban Atlanta has resorted to raffling off their supersized house to avoid foreclosure. |
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Flowers blooming every Thursday in March at PCAC - Crossville Chronicle |
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Can Your iPhone Tell You Which House to Buy? |
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| For those seeking bargains in today’s bombed-out housing market, it helps to have strong nerves and a big wad of cash. But do you also need a fancy cellphone? |
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Despite Looming Fed Exit, Mortgage Rates Stay Low |
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| The Federal Reserve is almost done buying mortgage-backed securities, which has helped lower mortgage rates to near historical lows for much of the past year, but rates appear to be holding steady: they ended the week at a still low 5.01% last week, up slightly from 4.95% the previous week, according to the Mortgage Bankers Association. |
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Nine Leadership Mistakes to Consider As You Rebuild Real Estate |
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| A word of advice for builders, contractors, developers and all other players interested in re-building strength back into the real estate marketplace: only strong, balanced, and experienced leadership at the executive level will pull the industry through to the next upcycle.
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California Homeownership Without Mortgage Payments: Homeowner Associations Pay For California Mortgage Moratoriums |
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| While some people struggle to keep their mortgage payments current, others are living in their houses for free. Not only are they not making mortgage payments but they are being offered incentives when they don't.
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Forget Granite Countertops, Here Comes Electric-Vehicle Charging |
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| Charging up the car in the garage might seem like something from the Jetsons cartoon, but builder KB Home is making that a reality Tuesday. |
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Whatever Happened to Leona Helmsley’s Dog? |
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The canine in question is Trouble Helmsley, the beloved Maltese poodle left behind by the late Leona Helmsley who died in 2007.
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J.P. Morgan: Foreclosure Sales Could Be Higher in Three Years |
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| Efforts to modify loans and delay foreclosures may have helped hold down the stock of foreclosures for sale in the second half of 2009, fostering home-price stabilization. But that cure could require different medicine: an elevated level of foreclosures for sale over the next three years. |
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Shiller: Should We Keep Subsidizing the Housing Market? |
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Is the government's massive support of homeownership nothing more than a "sacred cow in American society?"
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Mortgage Rates: The Calm Before the Storm? |
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| Despite being just 3 1/2 weeks from the much anticipated end of government purchasing of mortgage-backed securities, mortgage rates remain steady.
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Changing Times, Changing Fraud |
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| It was certainly a sign of the times that a panel discussion recently presented to California real estate attorneys and brokers was titled "Changing Times/Changing Fraud."
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The House Hunter's Toolkit |
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| It may not feel like Spring in your town, but for most of the United States, we've turned a corner. The sun is shining, the snow is melting, and the crocuses are poking their heads up through the ground; a brutal winter is winding down.
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What's My Real Estate Really Worth? |
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| How much is your real estate—your house, condominium unit, cottage, income property—worth in this market? PJ Wade has a few questions and suggestions for you whether a value popped into your head or not.
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Boston Mayor Blasts Vornado’s Roth Over ‘Blight’ Speech |
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| Frank comments from Vornado Realty Trust Chairman Steven Roth have sparked a political uproar in Boston over the stalled redevelopment of the Filene's Basement site. |
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The Loneliest Condo Dweller in Florida |
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| Anyone remember Victor Vangelakos? He's the loneliest condo dweller in Fort Myers, Fla.--and he can't take it anymore. |
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California Receives $700 Million in Federal Housing Aid |
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| California will receive $700 million and Florida will take $400 million in federal aid to begin designing programs to ease foreclosures, under the Obama adminstration's latest effort to ease the housing crisis. |
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What to Say (or not say) to Gracefully Decline the Monkey |
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| Here are some tips for showing your client the respect of letting him keep his Monkey (i.e. solving his own problem or dilemma). It's really all in what you say, or don't say, as the case may be.
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Pre-Qualifying for a Mortgage |
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| One of the first steps to take as a potential home buyer is to get pre-qualified for a loan. This step helps both you and your lender learn just how much home you can afford. And you should begin this process before you even start looking for a home.
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Real Estate Outlook: Federal Reserve Beige Book |
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| If you're trying to figure out where real estate is headed in the coming months, should you listen to the Federal Reserve -- or do you focus on the latest pending home sales numbers?
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Why Never Taking 'No' For an Answer Will Make You Wealthy - Real Estate News | BiggerPockets.com (blog) |
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FHA Study Says Technical Issues Understate Loan Risks |
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| We wrote today about this paper from economists at the New York Federal Reserve and New York University that argues that the Federal Housing Administration may be missing certain warning signals in its annual audit that could underestimate losses. |
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Frank Talk: Why You Can Expect More Of It |
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| Rep. Barney Frank again made comments that sent ripples through bond markets on Friday when he suggested that the U.S. might force Fannie Mae and Freddie Mac bondholders to take a haircut. |
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Goldman Predicts ‘Muted’ Mortgage Rate Increase |
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| In a research note out Wednesday, Goldman Sachs analyst Sven Jari Stehn says that after the Fed pulls out of the mortgage market, the mortgage rate increase may be more muted than some expect--if the Fed doesn't make a big deal out of it. |
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Saks Fifth Avenue Pulls Out of Westchester Development |
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| It appears that Saks Fifth Avenue doesn’t think the other tenants in a planned Westchester real estate development are up to snuff; at least enough for the upscale retailer to open its only store in the county. |
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Members of Tansi sewer board, boundary revealed in mayor's order - Crossville Chronicle |
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Did Weather Hurt Housing? You Decide |
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| When January's home resales fell 7.2% from December and new-home sales plunged to a record low, winter weather became the fall guy. |
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Friday Diversion: Rush Limbaugh and Tiki Barber Sell Manhattan Apartments |
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| Radio talk-show host Rush Limbaugh lists his penthouse on Manhattan's Fifth Avenue for $13.9 million. Mr. Limbaugh paid $5 million for the 10-room home, which overlooks Central Park. |
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Video: GGP’s Nolan on ‘What’s Taking So Long’ |
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| The WSJ’s Mike Spector and Simon Constable interviewed Nolan about the recent takeover battle, what it means for U.S. retail and where GGP goes from here. |
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More Incentives To Buy Home: Fannie Mae Offers Money for Closing Costs and Appliances |
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| Fannie Mae wants to sell its housing inventory that it acquired through foreclosures. The properties are listed for sale on HomePath.com. To do so, it's offering buyers incentives for those properties
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Low Rates Help Make Home Buying More Affordable |
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| Freddie Mac today released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 4.97 percent with an average 0.7 point for the week ending March 4, 2010, down from last week when it averaged 5.05 percent. Last year at this time, the 30-year FRM averaged 5.15 percent.
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Keys to Representing a Buyer |
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| The Buyer's Agent is responsible for crafting, presenting, writing a proper contract for, and prompting acceptance of a good offer. Follow these steps:
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SMALL TOWN GIRL: Losing sleep over Chilean earthquake - Crossville Chronicle |
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Steve Roth Deliberately Leaving Filene’s Site Vacant? |
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| Boston Mayor Thomas Menino, who is pushing to fill the hole in the ground that was once the Filene’s Department store, may raise his eyebrows at some recent remarks from the chairman of developer Vornado Realty Trust. |
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Thursday Diversion: ‘Twilight’ House Architect’s First Solo Project |
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Fans of "Twilight" know the name Jeff Kovel because the architect designed the home occupied by the Cullens, the featured vampire family in the film. But back before Twilight groupies started sending him fan mail, Mr. Kovel designed a home in the Portland Heights area of Portland, Ore., featured Thursday as "House of the Day" on WSJ.com.
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Documentaries being shown on Sundays in Pleasant Hill - Crossville Chronicle |
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Hovnanian Heads to Inland Empire |
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| Builder Hovnanian Enterprises is beefing up its presence in California's Inland Empire, one of the regions hardest hit by the nation's housing crash. |
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Real-estate machers praying for Jehovah's properties - BrooklynPapers.com |
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Relationship Selling Begins With Databased Marketing |
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| The name of the game is not just Internet marketing, it is relationship building. Marketing is what gets them to the sales center. Selling is a process and it takes times, sometimes many months.
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Feds Help Speed Up Your Mortgage Modification |
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| The latest spin on government-sponsored mortgage modifications, demands that home owners provide an initial package of documents before the first phase of a modification can begin.
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Make an appointment to give blood on March 5 - Crossville Chronicle |
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Renters Poised to Lose Upper Hand |
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| Renters--the ones with jobs anyway--have been having a good run the past year or so. But the party may be drawing to a close. The evidence, apartment operators are gearing up to build new rental units. |
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Live Blogging: Hovnanian on Hovnanian |
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| Builder Hovnanian Enterprises stunned the market late Tuesday as it swung to a first-quarter profit of $2.97 a share--ending 13 consecutive quarters in the red--a big improvement on the year earlier loss of $2.29 a share. |
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Mortgage Rates Hover Around 5%, For Those Who Can Qualify |
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| Policy makers have helped spur a wave of refinancing by driving mortgage rates to record lows for much of the past year, but high rates of negative equity, tighter lending standards and falling incomes have made it much harder for a wide swath of borrowers to take advantage of those rates. |
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Editorial: Banks Are Looking For More Bailouts |
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| The bankers are once again attempting to tilt the system in their favor by trying to turn Florida into a “non-judicial” foreclosure state.
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| Many rules enacted by homeowner association boards tend to use the Stick Method for rules which assumes folks need to be beaten to comply. The Carrot Method coaxes people into compliance by using guidelines that are reasonable and equitable. Guess which method works better to harmonize an HOA?
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Future Architects Design Sustainabale Architecture |
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| Whether you are a believer in the GREEN movement or not, designing buildings that use strategies aimed at improving the performance of metrics that matter most: water efficiency, CO2 emissions reduction and energy savings makes sense. The last two years have been a wake-up call for not only Americans but for citizens of the world. We have all been faced with the rising cost of the natural resources we use every day and have come to understand the wisdom of conservation.
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| Harvard University's $26 billion endowment is looking to unload a chunk of its real-estate portfolio, but that hasn't stopped it from doing new deals to take advantage of property distress. |
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HHM receives funds from Hometown Help for blanket materials - Crossville Chronicle |
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Buying Foreclosed Homes With a Mouse Click |
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| For daring investors who are itching to get in on the foreclosure action, a Web site due to be launched this week offers what it says is an easy way to buy homes from banks--with the click of a mouse. |
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Toll Brothers Pulls Out of Gowanus |
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| Following the EPA's designation of New York's polluted Gowanus Canal in Brooklyn as a Superfund site Tuesday - a label that ensures it will be cleaned - builder Toll Bros. said it will not go forward with a proposed project there. |
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Mermaids in Times Square? |
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| We reported last month that a Toronto developer wants to build an aquarium in Times Square. Today, PETA announced a counter-proposal: How about costumed mermaids instead? |
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Buried in Fannie’s Filings: Signs of Improvement |
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| Buried in Fannie Mae's federal filings that reported an eye-popping $72 billion annual net loss for 2009 are some signs that the mortgage crisis that began three years ago is easing. |
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Quick and Easy Interior Design for Home Sellers |
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| Home buyers and home sellers have the same goal: an exchange of property. Buyers want to pay as little as possible for the nicest house they can afford; sellers want to earn as much as possible on their property. They may seem like conflicting interests, but they aren't. Buyers and sellers goals, at bottom, are both about making a fair trade.
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Focusing on the Median Price Can Be Misleading |
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| I like good news as much as anybody; but, as a real estate agent, I know that what appears to be good news can often mislead people who have to make decisions about selling their property.
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What Canada's New Mortgage Rules Mean to You |
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| The government says Canada’s housing market is healthy, stable and supported by solid economic fundamentals. But as prices keep rising, new mortgage rules have been introduced to prevent a housing bubble. Here’s what the rules mean for buyers.
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STUMPTALK: Elites are slow learners - Crossville Chronicle |
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FAIR PARK: Fair Park thankful for volunteers who support its mission - Crossville Chronicle |
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Chase away the winter blahs at the Sara and Fred Morrison Auction - Crossville Chronicle |
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Buffett Predicts: Housing Problems Behind Us Within the Year |
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Saturday we got this forecast from the Oracle of Omaha.
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Show Your Client the Respect of Declining the Monkey |
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| Believe it or not, politely declining to take on your clients' monkeys has a lot to do with respect. Respecting your client's intelligence, abilities and willingness to do his part.
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Real Estate Outlook: Reading the Numbers |
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| When it comes to the current housing recovery, never assume the path leads straight up. That's just not the way it's playing out.
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Sellers: Staging is a Must |
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| You may not have the budget to hire a professional stager, but every home seller can follow a few helpful staging tips to make sure their house looks like a buyer's dream home.
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California State Office Portfolio Hits the Market - MarketWatch (press release) |
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Freddie Mac Abandons Ship on Interest-Only Loans |
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| Freddie Mac said on Friday that it would stop buying and securitizing interest-only loans in September because those mortgages have performed so poorly. |
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Why Existing Home Sales Are Flat, Not in Free Fall |
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| Ignore today’s headlines on U.S. home resales. If you strip out the effects of tax credits, the underlying trend looks about flat. |
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Friday Diversion: Cher’s House Sells to GoDaddy CEO, James Franco Sells in L.A. |
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| Home resales fell 7.2% in January, here's a look at some high-end sales and listings from February. |
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Starwood and Lennar Bet Florida Is Back |
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| Starwood recently finalized the purchase of nearly 5,500 residential lots - and 36 model homes - from TOUSA, a Florida builder that filed for bankruptcy in 2008. |
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Top Affordable U.S. Housing Markets |
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| More than 70 percent of U.S. homes are affordable, with Indianapolis being the most affordable major metro housing market in the country for the last four years, according to a recent joint report by the National Association of Home Builders and Wells Fargo.
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Effective Price Versus Value Counseling |
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| We have seen many marketplaces shift nationally in recent years. The skill of price value counseling is a more essential tool than others in the last five years. My contention is most Agents are ineffective or out of practice in this discussion.
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Long-Term Rates Rise to Over 5 Percent for the First Time in Three Weeks |
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| Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.05 percent with an average 0.7 point for the week ending February 25, 2010, up from last week when it averaged 4.93 percent. Last year at this time, the 30-year FRM averaged 5.07 percent.
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KB Home Is a ‘Buy,’ Despite the Rodney Dangerfield Thing |
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| Home builders are a hot topic this week, with luxury developer Toll Bros. reporting a narrowed-quarterly loss, just as the Commerce Department said Wednesday that new-home sales plunged to a record low in January. |
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Better to Wait Until Home Buyer Tax Credit Expires? |
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| The home builders and Realtors are jazzed for the home buyer tax credit's remaining weeks. It's tempting for home buyers to get caught up in the hype. But perhaps you're better off waiting? |
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Groping in the Dark Toward Foreclosure Remedies |
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| Some of the most eagerly attended sessions at this week’s annual convention of loan servicers--sponsored by the Mortgage Bankers Association at a hotel in San Diego--have been those featuring representatives of the Treasury, the Federal Housing Administration and other government-related bodies. |
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Benchmarking your way to success: Part 2 - Greenhouse Management & Production |
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Don’t Hold Your Breath on Fannie, Freddie Overhaul |
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| The Obama administration confirmed on Wednesday that it will wait until next year to put forward legislation on Fannie Mae and Freddie Mac. |
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Commercial Real Estate Losses Could Reach $1 Trillion |
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| Columnist David Fletcher reports on the sate of commercial real estate, and why it is in serious trouble.
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NAR Commercial A Leading Voice for the Industry, The Market, and the Investor |
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| Peter L. Mosca shares an excerpt of a radio show interview on Income Property Investment Talk dot com, with Blaine Walker, 2010 Chairman of the National Association of Realtors Commercial Division and Chere LaRose-Senne, Managing Director of Commercial Member Services.
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Taxpayers Seeking Homebuyer Tax Credits, Refunds Must File Paper |
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| New filing requirements for homeowners seeking the home buyer tax credit or refund demands that taxpayers file hard copies of their returns. They cannot file electronically.
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On New Home Sales It’s Builders vs. Government |
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| Home builders say the market is improving, the commerce department's new home sales numbers tell a different story. |
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Macerich: ‘Consolation’ Prize for Losing General Growth Suitors? |
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| Speculation is mounting that General Growth Properties won’t be the only big shopping-center owner in play this year. |
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