market conditions: Case Shiller: Home Prices Rise for First Time in 8 Months
- 06/29/11 09:35 AM
Home prices in major U.S. cities have risen for the first time in eight months, perhaps boosted by an annual flurry of spring buyers. The Standard & Poor's/Case-Shiller home-price index reported Tuesday that prices rose in 13 of the 20 cities tracked. Washington, D.C., saw the biggest price increase, followed by San Francisco, Atlanta and Seattle. Still, six metro areas are at their lowest levels in nearly four years. Those markets are: Charlotte, Chicago, Detroit, Las Vegas, Miami and Tampa. Last month, home prices in big metro areas sunk to their lowest since 2002. Since the bubble burst in 2006, prices … (1 comments)
market conditions: No Housing Recovery Until 2014, Survey Says
- 05/19/11 11:12 AM
More than half of U.S. adults surveyed think the housing market won't bounce back until 2014 or later, reports Inman News. But for some people, even the promise of a real estate recovery might not be enough to entice them to take the plunge and become homeowners: 40 percent of renters surveyed said they will never buy a home. Inman News has the full story. With home prices threatening to double-dip nationwide, most consumers don't expect a housing recovery in the near term, according to a survey from property search and marketing site Trulia and foreclosure data site RealtyTrac. Market research … (2 comments)
market conditions: Buying a Home? Ask Yourself These Questions First
- 05/10/11 11:22 AM
As the housing market continues to take a beating -- new data out this week shows home prices continuing to fall in nearly every major metro area -- homebuyers need to evaluate their decisions more carefully than ever. In such a soft market, you may be stuck with your choice for a long time, and mistakes can be more costly than ever. Our sister site DailyFinance offers some help for homebuyers in the form of three essential questions you need to ask before making a decision. It's a brave new world in the U.S. housing market -- one in which many … (2 comments)
market conditions: Decline in real estate sales greater than stated?
- 02/16/11 09:05 AM
Statistics published by the National Association of Realtors appear to overstate sales of existing homes by 15 to 20 percent, mortgage and property data aggregator CoreLogic says in a new report that concludes home sales fell more sharply last year than previously thought. A NAR spokesman said the CoreLogic claim "is premature at best," and NAR will be making some benchmark revisions to its historic sales data later this year. NAR's figures -- based on data collected from multiple listing services and large brokerages -- show sales of existing homes fell 5 percent in 2010, to 4.9 million. But CoreLogic, … (0 comments)
market conditions: CoreLogic Home Price Index Shows Decline for Fourth Straight Month
- 01/11/11 06:54 AM
CoreLogic released its November home price index Tuesday, which shows that home prices in the United States declined for the fourth month in a row. The California-based analytics and property information provider reported that national home prices, including distressed sales, fell by 5.07 percent in November 2010 when compared to November 2009. November’s reading follows a 3.35 percent annual decline reported for the month of October, a 2.43 percent drop in September, and a 1.08 percent decline in August, as measured by CoreLogic’s index. The trajectory indicates that home price reductions are growing increasingly sharper with each passing month. Excluding REO … (2 comments)
market conditions: Bank of America Extends Freeze on Foreclosures to All 50 States
- 10/08/10 10:23 AM
Bank of America Corp., the biggest U.S. lender, extended a freeze on foreclosures to all 50 states as concern spread among federal and local officials that homes are being seized based on false data. “We just want to clear the air,” Bank of America Chief Executive Officer Brian T. Moynihan said today in a speech to the National Press Club in Washington. Bank of America, JPMorgan Chase & Co. and Ally Financial Inc. already froze foreclosures in 23 states where courts supervise home seizures amid allegations that employees used unverified or false data to speed the process. Bank of America’s new … (0 comments)
market conditions: 18-Month Recession ‘Over’ But 18-Month Foreclosure Tradition Rolls On
- 09/30/10 11:13 AM
With all due respect to the Nobel Prize winners and noted economists who serve and have served on the National Bureau of Economic Research (NBER), to a lot of people these days, it just doesn’t feel like the recession is over, no matter what the latest economic data says. The NBER came out last week to declare that the nation’s latest recession ended June 2009, a long 18 months after it began in December 2007, making it the longest recession post-World War II in the nation’s history. Previously, the recessions of 1973 to 1975 and 1981 to 1982 shared the title … (0 comments)
market conditions: 10 Reasons To Buy a Home
- 09/17/10 11:28 AM
Enough with the doom and gloom about home ownership. Sure, maybe there's more pain to come in the housing market. But when Time magazine starts running covers that declare "Owning a home may no longer make economic sense," it's time to say: Enough is enough. This is what "capitulation" looks like. Everyone has given up. After all, at the peak of the bubble five years ago, Time had a different take. "Home Sweet Home," declared its cover then, as it celebrated the boom and asked: "Will your house make you rich?" But it's not enough just to be contrarian. So here … (0 comments)
market conditions: Decline in home prices to continue to 2011: Clear Capital
- 09/09/10 11:13 AM
Home prices gained 5.7% over the three months ending in August, according to real estate data provider Clear Capital. But analysts added price growth has slowed and will contract well into 2011. The price gain through August is down 240 basis points from the July report, which dropped 70 bps from June. Alex Villacorta, senior statistician at Clear Capital, said prices built up a 13% cushion from its trough in 2009. "Overall, prices look poised to continue their deceleration with a likely drop into negative territory by the end of the year," Villacorta said. With the drastic drop in home … (0 comments)
market conditions: Pending home sales rise 5.2 percent in July
- 09/02/10 09:11 AM
WASHINGTON (Reuters) – Pending sales of previously owned U.S. homes rose unexpectedly in July, an industry group said on Thursday, suggesting a tax credit-related housing market decline was close to bottoming. The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in July, increased 5.2 percent to 79.4 from June. June contracts were revised to show a slightly bigger 2.8 percent decline instead of the previously reported 2.6 percent fall. Compared to the July last year, pending home sales fell 19.1 percent. Economists polled by Reuters forecast the index, which leads existing home sales by a … (0 comments)
market conditions: Housing Supply and Demand Won't Balance until 2012: Moody's
- 08/31/10 10:26 AM
Moody’s Investors Service says it expects home price appreciation to be “soft” for the next couple of years. The company says there were 1.8 million more vacant homes sitting on the market than what is considered the norm at the end of the second quarter. According to Moody’s, this imbalance of supply-and-demand, particularly in light of the steep falloff in home sales post-tax credit, means the home price correction is not yet over. The credit ratings agency explained that the increase in excess housing supply reflects the rise in homes that lenders are repossessing now that many of the distressed borrowers … (1 comments)
market conditions: Is The Worst Behind Us? Real Estate Experts Sound Off
- 08/04/10 10:49 AM
Congratulations to Helen Oliveri who was recently featured in This Chicago Agent Magazine Article on how she is excelling in a tough market. Helen was one of only 6 people featured as a real estate expert amongst her peers. What a nice tribute!
You can pose the question of “have we recovered?” to 100 Realtors and receive 100 different answers. The fact of the matter is that no one knows for sure if we are on the path to recovery, but many insist the market is showing positive signs. To get to the bottom of this issue, we spoke with a number … (2 comments)
News, tips and tricks about the Chicago Area and National Real Estate Market, brought to you by The Helen Oliveri Team of Keller Williams Realty Partners.
… (0 comments)
;)
;)
;)
