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home prices: Housing Lessons-Have We Learned? - 06/15/10 07:14 AM
The Housing Bubble began in the Bay Area around 1996. That’s when home prices starting growing faster than inflation and faster than rents. By the late 90’s, people really took notice. By 2002, the movement took hold. By 2004, housing mania had become a full-blown religion.   Many things that were accepted as true in the bubble-times are no longer so. But for a generation that came of age during the bubble, these bubble-truths are the only real estate truths we know. Tearing them down is to tear at the core of our economic value system, directly challenging the reasons we’ve chosen to live the lives that … (1 comments)

home prices: Home Sales Exceed Prior Year for 10th Straight Month... - 05/14/10 12:35 PM
Home Sales Exceed Prior Year for 10th Straight Month...  The OTTEAU Report  New Jersey home sales improved for the 10th straight month in March recording a 35% increase compared to last year.  The primary drivers behind the increase are pent-up demand from reduced buying activity over the past few years coupled with low mortgage interest rates and the federal home buyer tax credit program.  Another likely contributor was a depressed level of activity in February due to severe winter storms which deferred some home purchases into March. 
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home prices: Sellers Slashed Home Prices - 05/07/10 09:13 AM
Report: More Sellers Slashed Home Prices Prospective home buyers have another reason to fulfill the “American Dream” as more home sellers are resorting to price cuts in a bid to attract more customers, data from a popular real estate website has revealed. According to Zillow, the number of sellers who reduced their asking price rose in April after a three-month decline.
Data showed that prices of 23.2% of properties, or one in every four homes, listed for sale on Zillow’s website have been slashed last month. The figure rose from 20.7% in March. It marked the first time this year that … (3 comments)

home prices: The Difference Between a Real Estate Recovery and Stopping The Flow of Blood - 04/05/10 02:17 PM
An interview with Chip Case, founder of the Case-Shiller Report, has a great obeservation of the housing market I thought I would share this morning.
“We have to distinguish between a recovery, and stopping the flow of blood,” clarified Case. “We’ve had falling house prices for quite a while, and now have four to five months of stability. That stability is very good for the mortgage market.
“But, if prices continue to fall, then mortgages in 2008 and 2009 turn bad. And if they turn bad, then the financial sector is back in hot water. That’s the big worry. If we … (1 comments)

home prices: What Happened to That Double Dip in Home Prices - 04/01/10 02:08 PM
By Nick Timiraos-Wall Street Journal Have government policies staved off a future home price decline, or have they simply kicked a future price decline further down the road?
It’s a timely question with Tuesday’s report on January home prices from the Case-Shiller home price index, which showed slightly better than expected home price appreciation. After adjusting for seasonal factors, home prices gained by 0.3% in the three month period ending in January 2010 versus the three month period ending in December 2009. Price gains were led by Western markets such as Los Angeles and San Diego that have seen lots of activity at … (2 comments)

 

Daniel Guest

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