economy: Should Taxpayers Bail Out Homeowners? - 09/25/07 05:47 PM
Innman Real Estate News asked this question today. The answer was, yes for some.
The conclusions were that a bailout was in order for those who were defrauded, but not for those who were foolish or careless.
Unfortunately, many of the foolish and careless are also part of the economy. Letting them … (2 comments)
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economy: The Fed Did It!!! - 09/18/07 03:10 PM
Good news for home buyers and sellers in Sun City, Surprise, Peoria AZ, Glendale and the West Maricopa county.
Today, the Federal Reserve Board of Governors lowered the federal funds rate by 1/2%. Since many, if not most analysts predicted no more the 1/4, this is good news indeed.
This is the first … (1 comments)
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economy: Lawrence Welk and the Housing Mess - 08/14/07 06:16 PM
Those of my age had to watch LW every Saturday Night, because our parents did. Those a little older watched because they liked it. I did fall in love with the Lennon Sisters, however.
Today's Inman Real Estate news has a good article about the state of affairs in housing today. See … (5 comments)
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economy: To Many Agents? - 08/13/07 05:24 PM
NAR has reported that in recent years the rate of increase in the number of agents was greater than the increase in homes sold. We now have in excess of one million agents nationwide.
Conventional wisdom would imply that more agents = more competition, which is supposedly good for the final consumers. … (13 comments)
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economy: Mortgage Update 8/10/07 - 08/10/07 11:35 AM
Yesterday, Freddie Mac (the Federal Home Loan Mortgage Corporation) reported that mortgage rates were at a 2 month low.
30 Year fixed rates averaged 6.59%, down from last month's rate of 6.68% and the year's high of 6.74%.Freddie Mac also reported 15 year fixed rates at 6.26% from last month's rate of … (0 comments)
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economy: Now they are outsourcing What? - 08/06/07 06:41 PM
Ed Rybczynski this weekend posted two blog entries regarding outsourcing title search work offshore. I am not competent to judge the quality of this work, or the legality of this work, but I feel I have a right to state my opinon about outsourcing in general.
Outsourcing is good for the short … (5 comments)
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economy: Some Recent Posts Attempting to Explain The Current Mortgage Crisis - 08/05/07 11:15 PM
It is amazing to me that with the chaos in the mortgage industry, more of our mortgage professionals have done little to explain what is going on, or to help the real estate agent associates to survive, thrive and progress. This is an ideal forum for just that.
The following are some … (5 comments)
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economy: Thoughts on the Flat Housing Market, and Mortgage Crunch - 07/29/07 11:42 AM
The housing market in my area is spotty, with Sun City and Surprise homes selling at a slightly increasing rate, while Sun City West, Peoria and Glendale flat. Prices are, in,fact, down from the 2005 record prices. Inventory is high in all areas, and the "I'll sell if I get my outrageous … (4 comments)
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economy: Think Foreclosures are a Good Deal? Really? - 07/28/07 11:45 AM
Want to Buy a Foreclosure? Think about it first.
Many buyers are coming to me with the intent to buy a foreclosure property.
Why? They think they will save a lot of money. After looking at many, most decide not to do so. They find the costs to be much more than … (3 comments)
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economy: A Big New Employer Comes to Surprise - 07/26/07 11:46 AM
Crescent Crown Distributing has announce that it will build a regional headquarters an distribution facility at the Surprise Pointe commericial park.
Crescent expects to employ 250 people initially, growing to 600 jobs in the near future. The company also has a distribution center in Phoenix, which it will keep open. That facility … (3 comments)
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economy: News From Surprise - 07/21/07 05:00 PM
Growing, Growing Grown!
Forbes.com reports that Surprise Arizona is the third-fastest-growing suburb in America according the the Arizona Republic. In the same article, the Republic says that Money magazine rated Surprise AZ as first in the nation for the rate of new job growth.
Four of the top ten fast growing suburbs were … (2 comments)
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economy: Rent vs Buy? - 07/20/07 11:58 AM
Renting a home is an expensive luxury!
The average rent in the Phoenix area is now $809 per month. Occupancy rates are 98% occupied. Rentals are getting very scarce and costly now.
If you were paying $809 per month, how much home could you buy? After converting this rent payment and factoring in … (8 comments)
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economy: More News of Improvement in the Housing Market! - 07/16/07 05:13 PM
Countrywide Financial, one of the largest mortgage originators reported that They made 45 Billion dollars in mortage loans in June. This is a 4% increase over June of 2006. The company accomplished this in spite of vastly reduced activity in the sub-prime and adjustable rate mortgages.
The company still finds the housing … (0 comments)
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economy: Thoughts on Today's Real Estate News (7/15/07) - 07/15/07 01:01 PM
In today's Arizona Republic, Cathrine Reagor reports a few things of interest to home buyers and home sellers.
New home building continues to slow.Condo sales are bucking the trend. Sales of existing condos are up about 8%.Short sales continue to rise.Regarding number 1, good news for sellers of existing homes, they do … (0 comments)
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economy: Housing Prices Flat--Good News? - 06/03/07 03:19 PM
In Cathrine Reagor's column in todays Arizona Republic, it was reported that housing prices were stable, indeed flat in Arizona at this time.
Good news? You bet! Our neighbor to the west has some real problems in the resale real estate market. Ms. Reagor announced that 22 out of 26 home markets … (3 comments)
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economy: Good News, More Jobs - 06/02/07 02:35 PM
Yesterday, the Department of Labor announced that the number of new jobs created in May was almost double the number created in April.
This is good for the outlook for sales of both family homes and retirement homes. Families may be able to start moving up at last, freeing up the older … (2 comments)
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economy: Market Outlook - 06/01/07 10:52 AM
Bank of America's monthly industry survey of real estate agents throughout the nation has reported that buyer activity decreased in May. It also reported that what buyers there were showed hesitation to step up and buy.
Factors in the trend were primarily the fear of continuing falling prices, followed by tightening … (0 comments)
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