economy: Title Insurance Outlook Is Stable With Improvement Expected in 2009 - 12/04/07 01:24 PM
A recent Fitch Ratings report is stating that the rating outlook for the US Title Insurance industry is Stable, despite a continued lessening of revenues, and more importantly margins, caused by it's ties to mortgage and real estate markets which are projected to see continued deterioration in 2008.According to Fitch, cost cutting efforts implemented this … (0 comments)
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economy: 228 Billion in Construction Projects in Alberta - 12/04/07 02:41 AM
The inventory of major Alberta construction projects is 228 billion dollars. According to Richard Corriveau, regional economist for Canada Mortgage and Housing Corp, this is a conservative number. It only includes projects that cost at least $5 Million dollars.There's still lots of optimism and enthusiasm for where Alberta's economy is going.... … (1 comments)
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economy: U.S. Notes Post Best Monthly Gains Since 1995 on Credit Losses - 12/01/07 11:02 AM
Treasuries had their best month in 12 years as concern over banks' willingness to lend drove investors to seek refuge in the relative safety of U.S. government debt. An index of Treasury securities returned 3.2 percent in November, the highest since 1995, as the rate banks charge each other for borrowing … (1 comments)
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economy: Treasuries Fall After Bernanke Says Fed Will Act to Avoid a Recession - 11/30/07 10:53 AM
Treasuries fell and bill yields rose as Federal Reserve Chairman Ben S. Bernanke indicated the central bank will do whatever it takes to keep the economy out of a recession. Yields on three-month bills increased the most in more than two weeks on reduced demand for the safety of short-term government … (0 comments)
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economy: Beige Book Released By Federal Reserve For November - 11/30/07 08:47 AM
The Federal Reserve recently published their latest issue of the Beige Book. It is available online. The following is a brief list of it's overall (national) summary findings (using data as of October 5th): 1. Economic activity continued to expand since the last report, but the pace of growth had decelerated since August. Expansion was characterized as moderate, … (1 comments)
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economy: "Shocked the system" with a price drop $136,000 on the Miami Beach apartment. - 11/29/07 10:12 AM
I'm in shock myself. The apartment was listed originally at $535,000 and now it is on for $399,000. It is a huge drop and a big loss as far as I'm concerned, as I'm the owner.
Over $136,000 drop in price. Is this occurring all over in our Miami market? And … (5 comments)
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economy: Another Fed rate cut? - 11/28/07 12:19 PM
In a report on cnnmoney.com, the Federal Reserve Governor implies that there will be another fed rate cut in the future. So what does that do the economy? The whole purpose of a rate cut is to spur on economic growth. A rate cut will put a jump in the stock … (1 comments)
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economy: Katy to see more development - 11/27/07 03:21 PM
Vista Equities Group and Vista Private Equity Group, LLP have just bought 89 acres of land at the corner of Grand Parkway and Kingsland Boulevard in Katy, Texas. The lot will include retail, medical and office buildings that will only bring more businesses and homeowners to the area. This is the second … (0 comments)
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economy: Houston Economy Still Going Strong - 11/27/07 03:03 PM
Delta Associates, an affiliate of Transwestern just reported that despite the nations downward spiral, Houston's economy is still going strong. The research group predicted 60,000 new jobs per year though 2009. This will cause office space to decline and rent go up through the end of 2008. This is great news … (0 comments)
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economy: Grass Roots Technology to Determine the State of the Economy - 11/27/07 10:21 AM
I'll call my theory the "Convenience Store Economic Outlook" where YOU can predict the future!Millions of dollars are paid to analysts each year to determine our economic condition and direction. Now you can effectively draw insight into this complicated and sometimes daunting field. Take a moment and look at your loose … (0 comments)
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economy: Treasuries Fall With Investment in Citigroup - 11/27/07 10:17 AM
Treasuries fell as Abu Dhabi agreed to invest $7.5 billion in Citigroup Inc., boosting stocks and easing demand for the relative safety of government debt. Investors sold bonds as traders speculated that the cash infusion will help the biggest U.S. bank by assets replenish capital after writedowns related to subprime mortgage … (0 comments)
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economy: Mortgage Industry Collapse Beginning To Have Effect On Economy - 11/27/07 10:12 AM
While many mortgage bankers wish that the collapse in this sector was over, it appears that we will have some more pain to endure. Many are now projecting that the mortgage and real estate sector won't show signs of recovery until possibly this time next year and some are calling for … (0 comments)
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economy: The Market - 2008 - 11/26/07 04:17 AM
Wouldn't it be great to be able to know for sure where the market was headed for 2008! Sure there are many spin doctors out there saying this and that, but do they really know the answer?? I did read an article in one of the local business papers about a … (2 comments)
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economy: Other Bubble News - 11/25/07 12:05 PM
According to an article in this weekend edition of the Wall Street Journal the number of homes in foreclosure that had reached a RESET date was less than 50% ... that means that many were foreclosing not because of an increase in payments but because they never should have been able … (0 comments)
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economy: U-M economists see a turnaround in hiring - 11/23/07 06:37 AM
This a republished article from Free Press by Ralph Marcus Maupin Jr. and Art Daniels
November 17, 2007
BY KATHERINE YUNG
FREE PRESS BUSINESS WRITER
The start of Michigan 's long-awaited economic recovery is at least a year away, economists at the University of Michigan predicted Friday during their annual economic outlook conference.
Despite … (0 comments)
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economy: Dollar Hit Record Low. What about Character? - 11/21/07 10:21 AM
What's this I hear about the dollar hitting record lows against the Euro, Yen and the Pound. All over the news we hear how the looney is now a couple percentage points above the dollar. Naturally, financial conditions of any nation is a reflection of the character health index. Don't you … (0 comments)
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economy: Ten-Year Yield Falls Below 4% - 11/21/07 09:03 AM
Well we should all be in the 5's NOW!!Treasuries surged, sending 10-year note yields below 4 percent for the first time in more than two years!!Bonds rose as U.S. stocks fell and oil rose to within 71 cents of $100 a barrel. The spread, or difference in yield, between two- and 10-year notes … (2 comments)
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economy: Dont forget the 2 day workweek!! - 11/19/07 09:15 PM
What little economic news we'll have during this Thanksgiving Holiday shortened week takes place this Tuesday and Wednesday...and the market is scheduled to close early on Wednesday and Friday with a full-day close on Thursday.The most interesting news of note for the coming week will be the latest housing data, coming … (1 comments)
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economy: Why are the lenders not doing more? - 11/19/07 07:11 PM
I am amazed that it has not dawned on the lenders that they could help with this downward spiral. If a person had been able to make his/ her mortgage payment up until the time the ARM took affect, why would a lender not contact the person and see what kind … (0 comments)
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economy: Recession Threat Means More Cuts! - 11/19/07 09:52 AM
The headline in the financial futures market these days says Federal Reserve Chairman Ben S. Bernanke is withholding some vital information: The economy is so bad the central bank will have to lower interest rates at least three-quarters of a percentage point to avoid a recession. Bernanke's two rate cuts since … (0 comments)
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economy: Treasuries Rise This Morning on New Home Construction and Deepening Subprime Losses - 11/19/07 09:48 AM
Treasuries rose as a Goldman Sachs Group Inc. analyst said Citigroup Inc. may incur an additional writedown of $4 billion, suggesting that losses related to delinquent subprime mortgages will deepen. U.S., European and Asian equities retreated on increased concern that a slumping housing market will slow the global economy. A report … (1 comments)
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economy: A Little Later than Normal... - 11/19/07 09:05 AM
OK, I'm getting slack on you guys! I was at a conference early last week and that put me behind the power curve for the rest of the week! Wow, I really didn't think that not being here would set me back so much!
Anyway, here are your numbers for this week, … (6 comments)
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economy: Why People Buy - 11/16/07 09:43 PM
There are three main reasons why people buy homes. The first is the economy and ours is great! We have three major hubs - technology, aerospace, and medical research. Boeing has orders for the next 22 years, is currently hiring like crazy and their employees are on mandatory overtime. Costco is … (3 comments)
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economy: Treasuries Little Changed as Fed Say Rate Cuts Are Less Likely - 11/16/07 09:38 AM
Treasuries were little changed as Federal Reserve officials suggested that the central bank won't be as quick to reduce borrowing costs as traders anticipated. Yields rose earlier from the lowest since 2005 after Fed Governor Randall Kroszner said an economic ``rough patch'' in coming months won't be enough to warrant additional … (0 comments)
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economy: Fear Doesn't Equal Paralysis - 11/15/07 08:14 PM
What were you afraid of last year? Do you even remember? Yesterday I was driving to a meeting and listening to my newest REIN CD's. REIN is a real estate investment group that focuses on Canadian specific real estate investing led by bestselling author Don R. Campbell.REIN has monthly meetings across … (4 comments)
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economy: Billions More - 11/14/07 08:30 PM
Billions more in write-downs from banks and mortgage companies based on the sub-prime mess. This situation has put our economy in a serious situation. If it is not for the fact the the US dollar is at it's lowest level against other currencies we would be in a real pickle.Why? With a … (4 comments)
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economy: A Very Resiliant US Economy - 11/14/07 05:21 PM
Sometimes we think we are on the brink of collapse in America. Our media jumps on us every chance they get and rings the bell of disaster. I kind-of get the idea that they have an agenda of their own, and it isn't necessarily Pro-American? Anyway, The world doesn't necessarily think … (2 comments)
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economy: Treasuries Fall as Boost in Retail Sales Eases Growth Concern - 11/14/07 08:50 AM
Treasuries fell after a government report showed U.S. retail sales rose last month more than economists forecast, suggesting that the U.S. economy is weathering the worst housing slump in 16 years. The data encouraged traders to reduce bets that the Federal Reserve will cut borrowing costs for a third time this … (1 comments)
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economy: It’s Raining Dollars For Foreign Investor’s - 11/14/07 08:38 AM
From CNN Money, Wall Street Journal to Forbes Magazine they all are reporting the fall in value of the U.S dollar. Interest rates have been slashed in order to boost our struggling economy. The sub-prime fallout from earlier this year is in full effect. When you purchase a home so many … (0 comments)
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economy: Treasuries Fall as U.S. Stocks Rise - 11/13/07 08:51 AM
Treasuries fell for the first time in a week as an increase in U.S. stocks reduced demand for the safety of government debt. Stocks are up, which is strange since stocks started the day Friday being down 200 points?! Yields of two-year notes, which had benefited as investors sought shorter-term securities, … (1 comments)
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economy: Marketing - 11/11/07 06:03 PM
Over the past several weeks I have been speaking to groups of agents in an effort to show them financial facts that would prove why now is the best time to buy a home. In the seminars, which I am happy to provide copies of to most people who ask, I … (37 comments)
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economy: Our market is HOT in Snohomish County! - 11/11/07 01:58 PM
Let's talk about what is really going on with real estate in my local area - Stanwood, Arlington, Camano Island and most of Snohomish County in WA.
The most important thing to remember is that Real Estate is LOCAL!
The strength of our economy is one reason why housing in our area has … (4 comments)
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economy: Treasuries Rise as Bernanke Says Growth to Slow - 11/08/07 10:14 AM
Treasuries rose as Federal Reserve Chairman Ben S. Bernanke told Congress he expects economic growth to ``slow noticeably'' this quarter. The difference in yields between two- and 10-year notes increased to the widest since March 2005. The bets are that the Fed will cut borrowing costs at its meeting next month. … (2 comments)
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economy: Mortgage regulation, and the cause of the crisis - 11/07/07 05:50 PM
I posted a comment on Jeff Corbett's Active Rain blog... and because I think the topic pertains to most of us, I am reposting it and then some here.---My comment went something like this: Good post Jeff... Although I disagree that some sort of regulation will not assist in straightening this mess … (4 comments)
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economy: Banks Face $100 Billion of Writedowns on Level 3 Rule - 11/07/07 11:23 AM
Under FASB terminology, Level 1 means mark-to-market, where an asset's worth is based on a real price. Level 2 is mark-to- model, an estimate based on observable inputs and used when there aren't any quoted prices available. Level 3 values are based on ``unobservable'' inputs reflecting companies' ``own assumptions'' about the … (1 comments)
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economy: Forecast for the Week - 11/07/07 08:13 AM
Have you ever flipped through all your TV channels to find nothing on? Well, that's how market traders will likely feel this week as they flip around for some economic news releases. But the news calendar takes a well deserved rest next week with mostly lower to mid-level reports scheduled. That … (1 comments)
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economy: Cheer up for 2008 - What to expect in the comming year - 11/07/07 07:04 AM
Given the pervasive gloom in the face of the housing slump and sudden sharp drops in stock prices earlier this year, you might have figured it was just a matter of time before the economy would collapse like a card house. In fact, a survey last summer found that two-thirds of … (0 comments)
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economy: The Economy is Holding Its Own - 11/05/07 05:53 PM
Employment showed a gain of 166,000 in payroll in October, which followed a gain of 296,000 over the 3rd quarter. The third quarter GDP increased 3.9% despite another drop in home construction. It seems like inflation remains in check for another period of time. Whew! Thank God.Regarding the subprime crisis, this … (2 comments)
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economy: Subprime Contagion May Claim 10-Year Treasuries Next - 11/05/07 08:24 AM
The U.S. housing slowdown that propelled 10-year Treasuries to their biggest gains since 2002 may soon make the same securities laggards in the government bond market. The notes returned 9.6 percent since mid-June as investors sought a haven from credit market losses caused by subprime mortgages.Sales of bonds backed by housing … (0 comments)
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economy: REO numbers for Nevada - 11/04/07 08:08 PM
For those of you that are interested, here are a couple REO stats from September.
From Sept 1, 07 to Sept 30, 07 the REO inventory in Nevada went from 597 to 738. That equates to a 23.62% increase in REO inventory over the 30 days of September. Is this going to be … (2 comments)
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economy: Home Tax Vote Tues. Nov 6 - 11/04/07 09:52 AM
This Tuesday there will be a transfer tax issue on our ballots here in Moore County and in 16 other North Carolina counties. Also know as the Home Tax, the tax is paid anytime real property is exchanged, and it is paid by the seller. That seller will then net less … (0 comments)
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economy: Treasuries Rise as Bank Losses are Greater than Growth in Employment - 11/04/07 08:34 AM
Treasuries rose, pushing two-year note yields to the lowest since 2005, as investors bet that bank losses on mortgage loans will slow the economy. Shares of financial- services companies including Merrill Lynch & Co. fell to a two- year low as analysts predicted the housing slump will cause banks to lose … (0 comments)
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economy: November 3rd Housing, Economic and Mortgage Market Update - 11/04/07 02:00 AM
We are now headed into the holiday market, historically the slowest time of the year… but, not this year. We already experienced the slowest demand of the year due to the financial market crunch, September and October. November is already showing signs of improvement and December promises to be even … (0 comments)
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economy: The Numbers Are In!!! - 11/03/07 01:27 AM
Here are your Las Vegas numbers for this week.
SFRs, condos and townhomes on the market (only EA or ER) - 27,650
Number contingent or pending - 2206 Number vacant - 13221
Number sold in last 30 days - 1173
Number of REOs - 1896 (estimated) Number of short sales - 3896
And what do these numbers … (8 comments)
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economy: Real Estate Forecast for 2008 - 11/02/07 09:49 AM
According to the Real Estate Buyer Agents Council and National Association of Home Builders
Encouraging New from tOctober 26, 2007 -
Though there appears to be no let-up to the current housing downswing, economists participating in the National Association of Home Builders Fall Construction Forecast Conference on Oct. 24 said they expect … (0 comments)
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economy: U.S. Employment Slowed in October as Housing Slumped - 11/02/07 08:37 AM
Employment in the U.S. slowed in October as a worsening housing slump led to firings at homebuilders, manufacturers and mortgage lenders, economists said before a report today. Wage gains may slow as employment weakens, increasing the burden on consumers already saddled with rising fuel costs and declining home values. The Federal … (2 comments)
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economy: List Prices Drop in Big Cities - 11/02/07 01:19 AM
Here is a link to an article on REALTOR® Magazine.
http://www.realtor.org/RMODaily.nsf/pages/News2007103104?OpenDocument
In many cities across the United States prices are dropping. Really? Are they? I did not notice. Nor did I hear anything about this on the news. In reality it is hard to pick up a paper, read an online article, or … (0 comments)
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economy: Tips for investors - 11/02/07 01:12 AM
I read an article on REALTOR® Magazine that gives 8 points for investors to look for when contemplating a purchase of an investment. I will not go into detail, but the tips given are pretty good and they could be printed out and given to our investor clients who might need … (1 comments)
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economy: RATE CUTS, GOOD OR BAD? - 11/01/07 10:54 PM
First of all I have to give a praise to my lender buddy who has been on the money again with his prediction about the rates and the cut. He also mentions that the interest rates were already beginning to trade at lower rates in anticipation of these rate cuts. And … (4 comments)
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economy: I used to think I understood math...and economics - 11/01/07 11:15 AM
In high school, and more recently at the University of Washington, I went through both the basics and advanced mathematics and economics courses to graduate and ultimately obtain that REALLY expensive piece of paper (honestly, higher education is important...but it is extremely overpriced). So yesterday after the BIG announcement that the … (6 comments)
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economy: Treasuries Rise on Speculation Credit Market Losses May Deepen - 11/01/07 10:20 AM
Treasuries rose as investors sought the safety of government debt after stocks tumbled and equity analysts cut the ratings of Citigroup Inc. and Bank of America Corp. on renewed concern over credit market losses. The gains in the two-year notes more than erased yesterday's decline triggered by the Federal Reserve's indication … (2 comments)
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economy: Royalty Review, Alberta Real Estate – Now What? - 10/31/07 12:24 PM
By Joe Samson, Calgary REALTOR®The world is coming to an end! Real estateprices have already dropped $45,000 in Calgary real estate in the last two months and the new royalties will cripple the Alberta economy due to massive project cancellations.... These were some of the headlines you could read in the … (0 comments)
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economy: Mortgage Market Update - Wednesday, October 31st - Happy Halloween! - 10/31/07 09:16 AM
So how many of you spent time this week raking ALL of your leaves! In my neighborhood, we have a ton of trees and it's a beautiful place to live. But in the fall? Let's just say it's not my FAVORITE time of the year! But at least a 3 foot child won't disappear in my … (1 comments)
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economy: What is the Perfect Colorado Springs Home? - 10/30/07 04:53 PM
When people think of Colorado, they think of so many things. To some, Colorado Springs real estate almost always invokes visions of mountain homes nestled in the trees.
"Look, you can see the slopes from here!"
Others like foothills homes where they are not quite IN the mountains, but can enjoy a lovely … (0 comments)
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economy: Treasuries Little Changed as Consumer Confidence Decreases - 10/30/07 09:43 AM
Treasuries were little changed after a private report showed consumer confidence fell more than forecast in October. The Conference Board's index of confidence declined to 95.6, the lowest since October 2005, from a revised 99.5 the prior month. The index averaged 105.9 last year.It looks like we are in for a weak … (2 comments)
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economy: Markets not as bad as our media want us to believe - 10/29/07 10:57 PM
Despite what our media wants us to believe....the U.S. economy and Wall Street seem to believe that our economy isn't nearly as bad as the media outlets want us to buy into. Look at the headlines from Bloomberg over the last week;
Taking a look at most of these articles, you'll find … (27 comments)
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economy: So...We don't Agree... - 10/29/07 10:50 PM
My team meets every monday morning at 8:00 for our "Focus Group" meeting. We do this to share ideas, set goals and get our week off to a productive start. Among the many topics we discussed this morning was the crystal ball prediction. My friend and one of my fellow teammates … (6 comments)
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economy: The FED says a TREAT should do the TRICK this Halloween! - 10/29/07 12:00 PM
They say to be careful what you wish for...and with Halloween just around the corner, kids aren't the only ones wishing for a "treat". This Wednesday, October 31st, The Fed will decide if the financial markets will get a treat of their own with another cut to the Fed Funds Rate. … (2 comments)
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economy: Two-Year Treasuries Fall as Bets on Half-Point Rate Cut Dwindle - 10/29/07 08:53 AM
Treasury two-year notes fell as traders pared bets that the Federal Reserve will reduce interest rates by more than a quarter-percentage point this week and gains in global stocks curbed demand for fixed-rate investments. Two-year notes, more sensitive than longer-maturity debt to changes in the Fed's target for the overnight lending … (5 comments)
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economy: We Need Another Federal Rate Cut ! - 10/28/07 10:07 PM
The last rate cut didn't help much, but I predict we will have at least one more one quarter percent cut, if not a half percent by year's end. Why do we need this? Because the benefit from the last cut was never realized because of a string of bad profits … (35 comments)
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economy: Credit Problems - Round 3 - 10/27/07 12:06 AM
I've written several times in the past on this blog about current events in the credit markets that have a huge impact on the overall economy but in particular the mortgage industry. I thought I'd give another update...
Back in February we saw Round 1 of the credit problems brought to the … (13 comments)
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economy: What will help the Las Vegas Housing Market? - 10/26/07 01:52 AM
Well...I believe that time is going to be the remedy for our housing market. But, if we were in any other city, I think the outlook would be far more dismal. The tremendous growth and popularity of Las Vegas has kept us from have a real housing market "crash". We have … (2 comments)
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economy: Housing Market, Economic and Mortgage Update - 10/25/07 08:59 PM
With Halloween fast approaching, the absolute prime buying season is at our doorstep - the Holiday market, from Halloween through the first few weeks of the New Year. Throw into that mix a drop in rates, choices not seen for buyers in years and a ton of pressure on pricing. … (0 comments)
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economy: Treasuries Gain and a Drop in Home Sales Point to Rate Cut - 10/24/07 10:55 AM
Treasury two-year note yields dropped to the lowest in more than two years as losses at Merrill Lynch & Co. and a plunge in home sales increased speculation the Federal Reserve will cut interest rates next week on Halloween. The yield on the November fed funds futures contract suggests traders are … (2 comments)
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economy: A Postive Message from Senator Don Gaetz - 10/23/07 03:35 PM
I just recieved this email below from Senator Don Gaetz as an updated on where we are with the current legislative specail session. I really hope we can get some sort of agreement by the Senate to approve some of what the house is proposing. We only have until October 29th … (0 comments)
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economy: Treasuries Fall as Gains in Global Stocks Curb Demand for Debt - 10/23/07 09:42 AM
U.S. Treasury notes declined for a second day after global stocks gained, reducing the appeal of government debt. U.S. stocks rose after earnings reports from Apple Inc. and American Express Co. eased concern that the housing slump has curbed consumer spending.Don't pay the mortgage, but make sure you get that new … (2 comments)
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economy: Is recession just around the corner..... - 10/22/07 07:36 PM
According to the media, according to numerous blogs and internet posts a recession is just around the corner. But as history show's us, is a recession really going to hit in 2007-2008. This recent article I found may make you rethink that we're heading into a recession...atleast within the next few … (0 comments)
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economy: Subprime / Schnubprime - Forget about it! - 10/22/07 01:56 PM
Ok, time for everyone to quit freaking out about the subprime mess. It's HISTORY! Who does this really affect? Think about it .. it affects the mortgage companies that made them and now can't resell them to wall street and now they're stuck holding the bag. They can't get more liquidity … (4 comments)
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economy: U.S. Treasuries Decline as Last Week's Gains Deemed Too Fast - 10/22/07 09:25 AM
Treasuries declined for the first time in more than a week as investor demand for the safety of U.S. debt waned with two-year note yields near the lowest since September 2005. Two-year notes posted the biggest gains last week since Sept. 11, 2001, as credit-market losses pushed stocks lower. The Standard … (0 comments)
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economy: Greenspan Says Demand for U.S. Debt May Be at Limit - 10/21/07 08:50 PM
Former Federal Reserve Chairman Alan Greenspan said the dollar's depreciation may reflect growing unwillingness among foreigners to buy U.S. debt. I think it's funny that Greenspan is like E.F. Hutton.......even though he is out of office....when he speaks-people listen (and markets react!)!Greenspan's warning came after the U.S. Treasury reported last week … (1 comments)
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economy: Real Estate Trick or Treat - 10/21/07 10:00 AM
Home buyers, sellers and Real-estate professionals are getting the Trick and the Treat of the market.The Trick:Sellers are experiencing lost equity of their investmentForeclosures are rising due to the slow sales and mortgage financing blipsThe flippers dove into the great unknown looking for the potential huge returnsSaturated listings with growing days on the … (2 comments)
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economy: Arizona Update - 10/21/07 03:03 AM
OK I have the numbers for Arizona, again I must add that this is for Single Family Detached homes, This does not include New Homes, Condos, FSBO's, etc...
Are your ready? 48,071 a new record.
I still have to see the silver lining. Homes are still selling and the inventory is perfect … (0 comments)
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economy: What's the Phoenix Economy look like today? - 10/20/07 10:48 AM
Elliott D. Pollack and Company provides some of the most extensive and easily understandable economic data for Arizona and the Phoenix metropolitan area. Some day, I'd like to hear the dialog that accompanies their comprehensive PowerPoint presentations. I just reviewed the latest CEO/CFO presentation posted on their web site, and find that it's a message … (0 comments)
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economy: C.A.R.'s California Housing Market Forecast for 2008:Statewide median price down, pace of sales decline moderates after tumultuous 2007 - 10/19/07 03:54 PM
LOS ANGELES (Oct. 10) - Home prices throughout most of California will post modest declines next year while sales of existing homes will stabilize from the precipitous decrease experienced in 2007, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) "2008 California Housing Market Forecast". The forecast will be presented this afternoon … (1 comments)
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economy: Las Vegas Real Estate, Market Update - 10/18/07 11:53 PM
Something for you to chew on, going into the weekend...As of today, Oct 18, 2007, 9:30 pm, PST :) there are 28,239 SFR, condos and townhomes on the market. This equates to a 21.7 month inventory at the current absorption rate. Of those homes on the market (EA or ER), we have a … (2 comments)
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economy: How Terrible Housing Data Can Actually Help Push Home Values Higher - 10/18/07 06:45 PM
Once again, the headlines may be misleading you. It's a good thing that Housing Starts dropped last month -- despite what the papers say. A "housing start" is a new residence on which construction has started. Yesterday, the government released September 2007's Housing Starts data for the country. There was … (3 comments)
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economy: Buyers or Sellers Market - Lafayette Indiana - 10/18/07 04:33 PM
A Buyers or Sellers Market If you are going to sell your present home, the market conditions will play a crucial role in determining the asking price. Market conditions change constantly, so it is important that you get solid advice from a professional who is familiar with your specific area.A good … (0 comments)
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economy: Unemployment - 10/18/07 11:29 AM
Unemployment claims are on the rise. The week of Oct 18, 2007 showed a significant trend in rising applications filed to recieved unemployment benefits. Due to the housing market crisis, buisness owners are more reluctant to hire and people are finding themselves displaced from their jobs. Jobless claims rose to 28,000 in … (2 comments)
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economy: BC Home Sales Increase in September - 10/18/07 10:32 AM
From my other blog:
More good news from the BC Real Estate Association about market conditions. It seems that 2007 is looking more like 2005 than 2006. Continued strong numbers like this is great news for all involved in the housing market.
Vancouver, BC – October 18, 2007.
British Columbia Real Estate … (0 comments)
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economy: Treasuries Rise on Evidence Credit Losses Threatening Economy - 10/18/07 10:02 AM
Treasuries rose, pushing two-year note yields toward their biggest weekly drop since September 2005, as concern increased that credit market losses are threatening the broader economy. Two-year note yields fell for a fourth straight day after a 32 percent decline in profit at Bank of America Corp. triggered concern that the … (1 comments)
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economy: Beige Book Released By Federal Reserve For October - 10/18/07 02:03 AM
The Federal Reserve recently published their latest issue of the Beige Book. It is available online. The following is a brief list of it's overall (national) summary findings (using data as of October 5th): 1. Economic activity continued to expand since the last report, but the pace of growth had decelerated since August. Expansion was characterized as moderate, … (0 comments)
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economy: Treasuries Rise for 3rd Day as Housing Starts Reach 14-Year Low - 10/17/07 10:22 AM
Treasuries rose for a third day after a government report showed housing starts in the U.S. plunged to a 14-year low in September, increasing speculation that the Federal Reserve will reduce borrowing costs this month. Two-year note yields fell to the lowest in more than a week as consumer prices excluding … (1 comments)
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economy: Short sale and repo properties...their affect on the market - 10/17/07 12:50 AM
There are currently over 28,000 single family residences, condos and townhomes on the market in Las Vegas as of today. With over 7,000 of those properties being short sales, in foreclosure or REOs, 25% of our inventory is comprised of distressed properties. Of course these numbers are higher in some areas … (10 comments)
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economy: Las Vegas Real Estate Market - 10/16/07 07:06 PM
As many of you know through the media or word-of-mouth, the mortgage industry is in turmoil. According to a recent report on MSNBC, so far this year there have been over one million, that's 1,000,000 foreclosures in the United States through October 1. And, they expect that number to reach 1.7 million by … (4 comments)
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economy: Forecast for the Week... - 10/16/07 11:33 AM
So could this week's slate of economic reports hold enough information for Bonds to decide they've had enough of the 200-day Moving Average - and cause home loan rates to make a move? The upcoming calendar features reports on Manufacturing, Housing, and Consumer Inflation...so it could get juicy, depending on the … (1 comments)
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economy: Treasuries Rise as Global Stocks Fall on Concern Over Housing - 10/16/07 11:31 AM
Treasuries rose as renewed concern that the U.S. housing slump will reduce corporate earnings spurred a drop in global stocks. Two-year note yields fell the most in four weeks as traders increased bets that the Federal Reserve will cut borrowing costs this month. Fed Chairman Ben S. Bernanke said yesterday that … (1 comments)
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economy: Market Update - Lock or Float (October 12) - 10/12/07 09:18 PM
The bond market opened in the negative after mixed economic news this morning. Stock rose slightly with the Dow up 52 and Nasdaq up 26 points. The bond is currently down 6/32, but because of yesterday's showing of strength, there will most likely be a minor improvement in mortgage rates today of approximately … (0 comments)
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economy: Break it down: Why is the Real Estate Market Bad? - 10/12/07 12:38 PM
Gordon Corsie wrote a really good piece this morning breaking down "what happened" to the Real Estate Market. To the seasoned professional, this analysis is not new. But I think it's really important to remind everyone as to the "how's" and "why's" of our Market today.
It's like this, when you know … (2 comments)
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economy: The Week In Review (October 9, 2007) : What to Watch For - 10/09/07 03:58 PM
As expected, the big news last week was the Non-Farms Payroll report. What wasn't expected, though, was the strength of the report. Mortgage rates ended the week on a large up-tick.
110,000 jobs were created in September, according to the Bureau of Labor Statistics. This exceeded Wall Street expectations by … (1 comments)
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economy: Where its a Great Time to Buy - 10/09/07 02:08 PM
Here is a link to an article that mentions 10 places where it is a great time to buy. I am a bit surprised at some of the cities that made the list, and more surprised to find out what cities did not make the list. I wish I knew what the criteria … (6 comments)
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economy: FDIC Says Make Teaser Rates Permanent - 10/09/07 09:21 AM
Some institutions are starting to be more proactive in modifying loans, FDIC's chairman said at an investor conference last week, according to a transcript of her presentation. She called for servicers to make teaser start rates permanent for owner-occupied borrowers with current mortgages, adding that these hybrid loans were designed as … (5 comments)
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economy: Home Sales Down - 10/08/07 10:56 PM
Really? I did not notice. Let me come back to reality. Home sales are down 21.5%. However, this number could use an asterisk, I say this because they have only been keeping track since 2001. So what are the numbers for 1940, 1979, 1999? If theses numbers are only based on sales … (0 comments)
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economy: Mortgage Forgiveness Debt Relief Bill passes through Ways and Means Committee - 10/07/07 08:59 PM
On September 26, 2007, The House Committee on Ways and Means unanimously approved H.R. 3648, the Mortgage Forgiveness Debt Relief Act of 2007. For more information, please see THIS ARTICLE. This is good news for the clients of ours that go through a short sale of their home. Under current law, … (19 comments)
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economy: Support Local Business In Colorado Springs - 10/07/07 03:30 PM
Colorado Springs is one of the best areas in the country to live and play in. Money magazine had it one of the top places to live last year, (this year we didn't even make the list, but people are so frivolous!).Anyway, without a doubt, we need each-other to make our … (2 comments)
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economy: Blood in the Streets??? - 10/07/07 09:57 AM
I recently ran across the following question on a blog, and thought I would share my answer with all of you to help alleviate some of the 'sub-prime myths' floating around out there.Titled:FORECLOSURES IN TOWN?"Can anyone speak to the issue of foreclosures in Bellingham, Washington? Foreclosures are up around the country … (2 comments)
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economy: Time To Take A New Look At How Interest Rates Adjust?? - 10/06/07 05:27 PM
First, let me get this out of the way. I'm am by no means an expert on interest rates (how and why they adjust), the fed, or anything of the sort. This is just an idea that I would like to throw out there and then maybe someone with the proper … (1 comments)
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economy: Anyone out there want to open a Hot Dog Stand? - 10/05/07 08:00 PM
I saw this story and it really hit home. I think we will do well to hear the meaning. Enjoy!
THE MAN WHO SOLD HOT DOGS
Many years ago there was a man who lived by the side of the road and sold HOT DOGS.
He was hard of hearing so he had no … (2 comments)
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economy: U.S. Treasuries Decline After August Job Loss Revised to a Gain - 10/05/07 09:33 AM
Treasuries fell, pushing yields on two-year notes to the highest in two weeks, after the government revised August job losses to a gain and said employment growth in September exceeded forecasts. Traders pared expectations the Federal Reserve will lower interest rates a second consecutive month as concern eased that the housing … (0 comments)
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economy: How Today's Employment Data is Hurting Mortgage Rates - 10/05/07 09:32 AM
On the first Friday of each month, the Bureau of Labor Statistics releases its employment report for the United States. Last month, the jobs report showed that the economy actually lost jobs for the first time since 2003. The total loss of jobs equaled 4,000 and contributed to the Federal … (6 comments)
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economy: Can We Blog For Change? Housing Legislation Brings Florida Realtors into Politics - 10/05/07 08:27 AM
I'm so excited! I actually got a personal email back from our Senator, Mike Fasano! I can't begin to count the number of times I've sent the 'canned' emails or letters to various Congressmen, Senators, and other legislators, but this is a first, and I'm thanking Active Rain and some Active … (10 comments)
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