economy: I would love to see this piece of real estate sell in Farmville. - 08/13/07 07:47 AM
I know so many people that were effected by the closing of Collins and Aikmen Plant. This hurt the entire town. I thought this article was worth sharing. I will be keeping you posted on updates to the story. The Daily ReflectorSunday, August 12, 2007The Collins & Aikman plant in Farmville … (0 comments)
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economy: THE VALUE OF UNITY!!! - 08/11/07 10:26 PM
UNITY ~ TEAMWORK ~ COMMON GROUNDSo, I have been sitting here reading blog after blog after blog. I love to read what everyone writes about. I learn some new things and that is way cool. I also find things that I either know or have blogged about myself. As … (17 comments)
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economy: Indianapolis #1 In Affordable Housing - 08/11/07 04:17 PM
Even with all of our local tax uproar and a high number of foreclosures, Forbes magazine still ranks Indianapolis as #1 in housing affordability.
If you're not uncomfortable with your monthly mortgage payment and don't obsessively check refinancing rates, chances are you live in one of America's most affordable areas.
Homeowners in Indianapolis know … (2 comments)
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economy: What's going on in the credit markets? - 08/10/07 06:27 PM
I thought I'd follow up my post from yesterday with an explanation of some of what is happening in the credit markets during the last two days. Some people may have seen some headlines about the federal reserve injecting billions of dollars into the banking system along with ECB (European Central … (22 comments)
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economy: When the *&^% hits the fan - 08/10/07 11:45 AM
UPDATE!!
See my October Denver real estate prices report for an update on what Paul Krugman is saying now (11/7/07)
My favorite economist -- mainly because he's been right about so many things -- warns of a possible coming meltdown in the financial markets.
Yesterday I heard our President tell us that there's still … (0 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: What bailout? - 08/09/07 03:50 PM
Watching the President this morning, a reporter asked him if, with the recent meltdown in the mortgage market, did he think the economy would turn down and was he willing to bail out folks who got into trouble. He said that the reporter needed to ask the economists that question. He … (11 comments)
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economy: A Call For Government Intervention in the Mortgage Market!!! - 08/09/07 02:26 PM
I posted this comment, well really it's a novel, on Bruce Borchart's blog this morning and decided that it's worthy to stand alone. I believe that governmental intervention is needed in the sub-prime debacle. Why?The pendulum has swung too far to the right in terms of corporate profit at all costs. While I believe … (10 comments)
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economy: How Credit Got So Easy And Why It's Tightening - 08/09/07 07:22 AM
As Oliver Hardy used to say . . ."Well, here's another nice mess you've gotten me into."Yesterday the RealEstateJournal.com posted a great article on The origins of the credit boom and its unfolding predate mistakes in the last year. The article traces the issues to changes in the banking system provoked … (3 comments)
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economy: Market Mania - 08/08/07 08:08 PM
Speaking with REALTORS in my office about our housing market this afternoon made me think back to 1993. Same talk, same urgency, similar downward price trends, and similar numbers foreclosures. Why didn't it feel the same? After taking some time to think about what was different, I know that what is not the same … (4 comments)
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economy: What The Big Boys Are Saying - 08/06/07 07:30 PM
I have taken some of the best points from Shell Canada president Clive Mather's interview with The Edmonton Journal, on the scale of development in the Alberta Oil Sands. "What we're saying is this is only the beginning," Mather said as he escorted U.S. Energy Secretary Samuel Bodman on an oilsands tour … (2 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: Short sale in Concord 2 bedroom/ 1 bath - 08/06/07 01:22 PM
Luis Ramirez-Agudelo OakhurstProperties (925) 567-6763 4081 Clayton Road, Concord, CA 2 Bdrm /1 bath Condo offered at $245,000 MLS 40288555 Year Built 1972 Sq Footage 868 Bedrooms 2 Bathrooms 1 full, 0 partial Floors 1 Parking 1 Covered spaces Lot Size Common space HOA/Maint $320 per month DESCRIPTION Very clean end … (0 comments)
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economy: GREAT economic news! SO why is no one reporting it? - 08/06/07 11:02 AM
I was a journalist for 20 years before moving to the United States. I know how I conducted myself when I was in the Fourth Estate and I know I never had an agenda. It would appear however that there are a lot of journalists and more importantly, news organisations, that … (2 comments)
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economy: Riskiest Housing Markets - 08/06/07 10:47 AM
Another survey and more incomplete data! Forbes.com has just produced a list of the riskiest housing markets in the country.They include Miami, Sacramento, San Fransisco, Cincinnati, Kansas City and Orlando.They produce various reasons why these markets are - in their opinion - risky. In Miami for example, they point out that … (0 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: San Antonio summer market report - 08/05/07 06:07 PM
San Antonio is still in great shape, stabilizing after two banner years. It is turning into a "normal" market, with fewer buyers and more homes for sale; resale sales were 17% less in June 2007 than a year earlier. The inventory is up by 72% in the same time period. Many … (2 comments)
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economy: Características de la inversión - 08/05/07 05:25 PM
Veo mucho "inversionistas" que buscan fuera de características del estado. Todavía creo que puedes crear un imperio en un mercado local, y no preocuparse si tu inversión se maneja a la derecha. Veo repartos subir casi diario. Hay tan cualquier hogar en el borde o en ejecución de una hipoteca. La … (0 comments)
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economy: Compradores. ¿Cercas a jinetes, dónde te caes adentro? - 08/05/07 03:55 PM
Compradores. ¿Cercas a jinetes, dónde te caes adentro? El Internet y ciertas publicaciones son un gran recurso para las respuestas a las preguntas al comprar o vendiendo un hogar. La diferencia entre un comprador y un "jinete de la cerca" es conocimiento. Cuando mirar las propiedades inmobiliarias en California una debe … (0 comments)
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economy: Ventas cortas. Ejecuciones de una hipoteca. . . Se congela el infierno ! - 08/05/07 03:10 PM
Nunca he visto muestras mejores de los hogares del descuento que compraban en todas las áreas. La cantidad de ventas cortas y de ejecuciones de una hipoteca está escalonando. Esto sería un gran rato para un comprador responsable de comprar dentro de sus medios.
Conexión a Luis@WalnutCreekHomes.com para más información.
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economy: Necesidades del comprador - 08/05/07 02:49 PM
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economy: Buyers needs - 08/04/07 02:48 PM
To sell Real Estate in Contra Costa County I think we need to know our client. Nowadays the buyer is what we all are trying to attract. There are allot of aspects for a buyer to decide on buying. The following is what I think are the top ten deciding factors … (0 comments)
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economy: Selling a home ain't easy . . . - 08/02/07 12:58 PM
This market is not for the faint of heart. The biggest challenges are for sellers and their agents. With very few exceptions, all sellers need to learn to adapt to market conditions. This is not the same market we had two or three years ago. A lot of sellers feel it … (0 comments)
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economy: Real Estate still the best way to invest - 07/31/07 04:02 PM
How many ways does real estate help people over time? Please feel free to show how real estate has made your life better. … (0 comments)
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economy: Two-Year Yields Up From Near 4-Month Low - 07/31/07 12:44 PM
Rates are going back up again!What a roller-coaster ride this has been!Treasury two-year note yields rose from near a four-month low as a rebound in corporate bonds and stocks sapped demand for the safety of government debt. A boost in demand for higher-risk assets combined with two- year yields near the … (1 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: The Economic Impact of Housing - 07/28/07 10:38 AM
According to CREA, the average home sale generates an additional $32K in consumer spending: moving, storage, new furniture, appliances, renovations, decorating, landscaping, repairs, etc. The transaction itself involves many professions, such as lawyers, real estate agents, and surveyors. There are the title insurers, home insurers, and mortgage companies. And let's not … (1 comments)
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economy: Homebuilders Still Struggle - 07/27/07 10:32 AM
Why is it that with plenty of LEGITIMATE yet creative ideas to move property WHILE HELPING BUYERS, some builders are sitting by watching millions of dollars in losses swirl down the drain? Business Week reported (as did many other news outlets) that sales of new homes fell 6.6% in June, a … (2 comments)
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economy: Maximizing Profit - 07/26/07 06:01 PM
How do you maximize profit as a real estate investor? Do you cut corners or do you provide better service?
It seems to me that it would do a lot of real estate investors and business owners a lot of good to stop trying to grow so fast and to … (0 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: Treasury Yields Fall Most in Five Months - 07/26/07 11:45 AM
I STILL say that the 5's are coming!!!.....I'm at 6.125 today and still falling!!!:-)Treasuries rose as two-year note yields fell the most in five months after global stock markets declined and investors retreated from riskier assets. The difference between yields on two-year notes and 10-year securities widened to the most since … (0 comments)
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economy: Treasuries Little Changed as Defaults Deepen U.S. Housing Slump - 07/23/07 10:05 PM
Treasuries are little changed, with the yield on 10-year notes holding below 5 percent for a third day, on concern subprime mortgage defaults will deepen a U.S. housing slump. The bond markets' inflation expectations fell to the lowest since May 30 before reports tomorrow and the next day that may show existing … (0 comments)
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economy: The "R" Word And "Shakespeare In The Park" - 07/22/07 09:38 AM
http://www.boston.com/ae/theater_arts/articles/2007/07/22/unkindest_cut_bard_to_run_short_on_common/ This link is the news that greated me this morning while I drank my coffee. Normally I wouldn't care since I only saw these Shakespeare plays as I would walk through the Boston Commons on my way to dinner or perhaps to see a movie. I usually wasn't prepared to stop … (0 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: Treasury 10-Year Yield Falls Below 5 Percent! - 07/20/07 12:52 PM
Just a little update...Treasuries rose, pushing the 10-year note's yield to the lowest in six weeks, on speculation rising subprime mortgage defaults will lead to higher interest rates for private borrowers and curb economic growth. Ten-year notes gained the most in more than a week and extended their biggest weekly advance … (10 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: Florida Is One Of The Best Places To Do Business - 07/19/07 01:00 PM
Forbes just released its ranking of the best places for business in the nation and Florida comes out 7th. For the second year in a row, Forbes.com has ranked the top states for business, taking into account living costs, job and income growth, and educational achievement, as well as projections of … (3 comments)
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economy: Treasuries are rising this week.. - 07/18/07 10:33 AM
Finally....Some lower rates!!!
Treasuries rose as the Federal Reserve trimmed its forecast for U.S. economic growth this year and next on weaker-than-anticipated home building, while keeping its inflation projections unchanged.
Fed Chairman Ben S. Bernanke predicted in testimony before Congress that U.S. economic growth will pick up slightly next year and inflation … (2 comments)
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economy: Bernanke Reluctant to Risk Credibility With Inflation Forecast - 07/18/07 12:27 AM
Federal Reserve Chairman Ben S. Bernanke, praised for averting a recession and containing prices, seems reluctant to risk his credibility by predicting a significant further easing of inflation. Fed policy makers may reduce slightly their forecast for inflation this year after prices moderated last quarter, their outlook will probably be unchanged … (0 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: What's Happening With this Economy? Simple minded Inspector...People Have To Live Somewhere - 07/16/07 10:20 AM
I am beginning to question if my simple mind can comprehend some of the things I hear on the news. This morning I turned on the TV and it indicated the DOW may hit 14,000 today (Wow, a second time, Wow, a third time Wow). The number of people employed is … (6 comments)
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economy: Northwest Indiana - An Economic Engine for jobs Part One - 07/16/07 07:54 AM
Northwest Indiana Economic Model - First in a Series highlighting our enormous potential. The Indiana Department of Workforce Development recently defined 11 economic growth regions (EGRs) across Indiana. Region 1, located in northwest Indiana includes Jasper, Lake, La Porte, Newton, Porter, Pulaski and Starke counties. These seven counties constitute 13.8 percent of … (4 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: Canadian resales breaking records - 07/14/07 11:02 AM
With Vancouver, Toronto, Hamilton, and Montreal leading the activity, CREA's results has been dubbed a "Triple Play":
Month-to-Month: June's 31,300 homes sold reflects a 0.3% increase over May
Quarterly comparison: The second quarter's 93,164 homes sold represents a 3.2% increase over the first quarter
Year-to-date (YTD) sales are up 9%Source: Three … (2 comments)
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economy: New Shopping Centre In Prince George - 07/13/07 11:24 AM
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economy: Could "Water" Start The Next Market Boom? - 07/13/07 12:15 AM
Is Minnesota the next Kuwait? When I first saw this video (hat-tip Athol Kay), I immediately started thinking of the massive potential impact of this emerging technology. While it remains to be seen if it actually proves to be a viable and clean fuel alternative, the promise behind it is mind … (0 comments)
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economy: Finally, Some Good News About The Real Estate Market - 07/12/07 02:18 PM
I just read an article put out by the Florida Association of Realtors. Finally some good press about the real estate market. Can the local news do a story with some positives about the market to give the people the confidence they need to start buying again? I have found so … (5 comments)
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economy: Treasuries Little Changed as Stocks Rise - 07/12/07 09:45 AM
Treasuries were little changed as stocks advanced, suggesting investors are becoming less averse to risky assets. Treasuries advanced on July 10 the most since February as Standard & Poor's and Moody's Investors Service warned about the credit quality of subprime mortgages.All of this up and down movement!...the market is rather unpredictable … (0 comments)
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economy: Has the Current Market Got you Puzzled? - 07/09/07 06:11 PM
As you are probably aware, the real estate market has changed. However, it's nothing to be puzzled about. It's a basic lesson in Economics, the demand is low with fewer buyers looking for homes, and the supply is high with an influx in inventory. The approaching spring time is going to … (0 comments)
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economy: NAR Points to Changes Required to Re-Emerge - 07/06/07 06:46 PM
According to NAR:The Pending Home Sales Index, based on contracts signed in May, rose in the West and Northeast but fell in the Midwest and South. The national index stood at 97.7 in May, down 3.5% from a downwardly revised April index of 101.2, and is 13.3% lower than May 2006 … (0 comments)
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economy: Michigan's Sluggish Economy - 07/06/07 10:32 AM
They say there's a recession.....WE CHOOSE NOT TO PARTICIPATENO Whiners! NO Complainers! NO Thumbsuckers!It's not that you're "bad people," We're just on a low negativity diet!!If you share these same views about michigan's sluggish Real Esate Market, then I urge you to market yourselves that much harder. If nothing more than … (5 comments)
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economy: New Hotel Opens In Prince George - 07/05/07 11:41 AM
New Hotel Opens In P.G.By 250 NewsTuesday, July 03, 2007 03:57 AM Prince George's newest hotel is open for business. The Four Points by Sheraton Prince George is now officially open. It features 74 rooms, a fitness facility, business centre, and more than 560 square feet of meeting space. In addition, the … (0 comments)
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economy: Good Luck Chrysler - cheaper is better or will it bring deaths - 07/04/07 12:57 PM
cheap Quality Cars going to the American market in two years..this year it was the dog food, the seafood and other problem foods that we imports from China. In two years, we are going to the fast lane for cheaper and low quality cars. Good luck Chrsyler lovers .. In the name … (2 comments)
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economy: Treasuries fall as the U.S. & U.K. tighten security after two attempted car bombings - 07/01/07 09:47 PM
Treasuries fell as the U.S. and the U.K. tightened security following two attempted car bombings in London and an attack on Glasgow airport, reducing demand for the relative safety of government debt. Ten-year yields fell to a three-week low last week when the threats cut the attraction of riskier securities. U.K. … (1 comments)
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economy: Fort Carson Troop Infusion Delayed - 06/30/07 02:24 PM
We had a well known saying when I was serving in the Army, "Hurry Up and Wait!." Unfortunately this old adage still seems to be alive, well, and accurate. After much fanfare and preparation by Fort Carson and the local community, the Pentagon has told Ft. Carson and the Colorado Springs … (0 comments)
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economy: Making English Out Of Fed-Speak (June 2007 Edition) - 06/29/07 05:16 PM
The Fed left the Fed Funds Rate unchanged again today for the eighth time in a row after 17 consecutive hikes. None of this is news to us.The Fed's press release, though, highlights a key theme about our country's economy: inflation may be moderating, but we are far from in the clear. … (0 comments)
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economy: Cautiously Optomistic Finish for First Half of 2007 - 06/29/07 01:21 PM
At the end of the 2nd quarter of 2007 the economy continues to stagger, although optimistically.Existing Home Sales for May (Nationally) were off slightly from the previous month, but still above analysts' estimates with 5,990,000 units sold.New Home Sales came in at 915,000 units and were off by 15,000 units from … (0 comments)
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economy: Rates are down a bit today! :-) - 06/29/07 10:08 AM
Treasuries rose after a government report showed the Federal Reserve's most closely watched measure of inflation slowed in May and consumer spending increased less than economists forecast. U.S. government securities erased losses that came yesterday after the Federal Reserve said in its statement that inflation remains its predominant concern. Bonds also … (0 comments)
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economy: THE FED MET TODAY....Rates Still Paused. - 06/28/07 05:23 PM
Treasuries fell after the Federal Reserve said inflation is still the greatest risk facing the economy while keeping the benchmark lending rate at 5.25 percent for an eighth consecutive meeting. Yields on two-year notes, more sensitive than longer- maturity debt to Fed rate changes, rose the most in two weeks as … (3 comments)
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economy: Everywhere You turn - Mortgage Fraud - 06/27/07 10:35 AM
Everywhere You turn - Mortgage Fraud by John Occhi, Hemet CA REALTOR Hemet CA Real Estate Hemet, CA is located in Riverside County in Southern California - separated from the Palm Springs area by a simple mountain to the east. We are the western end of the region known as the … (2 comments)
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economy: Arizona Summers - 06/26/07 11:57 PM
They're back!!! Arizona Summer is here again. And its hot as, well you know. The good thing about it being summertime are valley pools; private, community, and also the water-parks here in Arizona. Kids can enjoy water-parks like Sun Splash, Big Surf, Water World as I did as a youngster. I have also noticed one … (0 comments)
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economy: Freddie Mac Says Subprime is`Severe but Contained' - 06/26/07 11:27 AM
June 26 (Bloomberg) -- Freddie Mac Treasurer Timothy Bitsberger said the subprime mortgage slump is ``severe but contained.'' Subprime borrowers, people with the riskiest credit records, make up a small part of the U.S. mortgage market and are mostly in seven states, Bitsberger said today at a conference in London. The … (0 comments)
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economy: Consumer Confidence Weakens in June - 06/26/07 10:07 AM
On the heels of the Conference Board's report last week of increases in the Leading Economioc Indicators, the Board reports this week that Consumenr Confidence is weakening.The Conference Board Consumer Confidence Index, which had bounced back in May, reversed course in June. The Index now stands at 103.9 (1985=100), down from 108.5 in … (2 comments)
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economy: Automotive Workers In Michigan Not the Only Industry Hit by Lay Offs. - 06/26/07 06:40 AM
Michiganders are feeling the crunch from the almost 350,000 automotive workers layed off since 2001. Although it came in waves that is close to the total number.
One other group has also been hit by tremendous layoffs and that is the Construction Workers and trades. Since May 2006 to current over … (14 comments)
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economy: Foreigh Exchange Rates vs. Mortgage Rates - 06/25/07 03:38 PM
If you've ever looked over my REI profile page thouroughly, you've noticed that I do a small bit of day trading. That trading is in the currency markets called FOREX (Foreign Exchange). I usually have two laptops in front of me all day long. One is of my forex market positions … (1 comments)
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economy: Beige Book Released By Federal Reserve For June - 06/23/07 01:53 PM
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economy: U.S. Two-Year Notes Gain First Time Since April - 06/23/07 11:21 AM
Treasury two-year notes rose for the first time since April as investors sought refuge from possible hedge fund losses. Two-year yields fell more than 10-year yields this week, increasing the yield premium of the longer-term debt to the most since October 2005, as Bear Stearns Cos. offered to provide $3.2 billion … (0 comments)
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economy: Look What We're Going Through In Ann Arbor & Washtenaw County !! - 06/23/07 10:36 AM
The housing market in Ann Arbor, MI and Washtenaw County continues to show favor to buyers. Our MLS is coordinated by the different areas in Ann Arbor, (nine of them) and in Washtenaw County the MLS is coordinated by school districts.
The areas of Saline, Dexter, Chelsea, Ypsilanti, Ypsilanti Township, Manchester, Milan, … (14 comments)
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economy: Pasco Washington and Eco Tourism - 06/23/07 08:48 AM
Pasco is known for its stance on eco tourism, an idea it promotes through the Lewis & Clark Overlook and the American Indian Heritage attractions detailed below.
The Lewis and Clark Interpretive Center Overlook is situated at the junction of the Columbia Center and Columbia Park and it overlooks the River … (0 comments)
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economy: Stupendous Wonders - 06/23/07 08:13 AM
Pasco Washington has some truly stupendous wonders only a little while up the road. This 80-mile gorgeous piece of natures wonderland is the Columbia River Gorge, forms a natural boarder between north Oregon and southern Washington. Created by glacial flooding thousands upon thousands of years ago, the 1,200-mile-long river course is … (0 comments)
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economy: Treasury Yield Curve Steepest Since 2005 - 06/22/07 10:21 AM
The difference in Treasury 10-year and two-year note yields widened to the most since October 2005 as investors sought a haven from hedge fund losses. Two-year notes were poised for their first weekly gain since April, while 10-year notes were down for a seventh week, widening the yield advantage of the … (1 comments)
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economy: Summer Mortgage rates can change more swiftly than usual... - 06/20/07 06:16 PM
It was another favorable day for mortgage rates yesterday as average housing data and momentum trading carried bond prices higher. Bond prices up, mortgage rates down, of course. All things considered, mortgage bonds should not have moved as much as they did. But, this is the summer season and in … (0 comments)
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economy: The worst is yet to come for the U.S. housing market - 06/20/07 08:42 AM
The jump in 30-year mortgage rates by more than a half a percentage point to 6.74 percent in the past five weeks is putting a crimp on borrowers with the best credit just as a crackdown in subprime lending standards limits the pool of qualified buyers. The national median home price … (14 comments)
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economy: The worst is yet to come for the U.S. housing market... - 06/20/07 08:40 AM
The jump in 30-year mortgage rates by more than a half a percentage point to 6.74 percent in the past five weeks is putting a crimp on borrowers with the best credit just as a crackdown in subprime lending standards limits the pool of qualified buyers. The national median home price … (5 comments)
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economy: Interest Rates - 06/20/07 12:41 AM
Well as you can guess, Interest Rates are on the rise. Great timing huh? Like the saying goes, "when it rains it pours." And right now the Real Estate Industry is in a monsoon. Is Evan Almighty around? However, do not fear, while it may be sink or swim time, we as REALTORS … (4 comments)
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economy: Gas dips below $3 but still double 5 years ago.. - 06/19/07 10:48 AM
For those that spend a lot of time in their car, this is old news.Since Memorial Day weekend when gas prices touched $3.24/gallon nationally, the cost of filling up dipped below $3.00. According to Gas Buddy, Monday's average cost per gallon was $2.995.Despite the dip, gas prices are still much higher … (0 comments)
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economy: Treasuries Rise a Third Day as Housing Starts Decline in May - 06/19/07 09:41 AM
June 19 (Bloomberg) -- U.S. Treasuries rose for a third straight day after a government report showed home construction slowed to a four-month low in May. The consecutive declines in yields on benchmark 10-year notes is the longest streak in two months. Yields on the securities had touched the highest in … (2 comments)
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economy: Fed may step in as subprime deliquencies hit all-time high - 06/14/07 10:47 AM
As late payments and new foreclosures on adjustable-rate home mortgages made to people with spotty credit spiked to all-time highs in the first three months of this year, the Federal Reserve on Thursday considered reforms to crack down on lending abuse.The Mortgage Bankers Association, in its quarterly snapshot of the mortgage … (2 comments)
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economy: Enough is Enough, Just Fix Our Property Taxes Now! - 06/14/07 09:57 AM
The current property tax situation in the state of Florida has to be fixed now. With a reduction in property taxes it will open our real estate market back up and improve our economy. Our legislatures are in special session this week trying to fix our broken property tax system. Email … (8 comments)
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economy: Listen....Do You Want to Know a Secret? - 06/13/07 12:35 PM
I'm not gonna go on and on here and I'm not going to take out a magnifying glass and wax eloquent on the intricacies of mortgage backed securities. I just want to give you all a little corner of the information that mortgage people like myself use to help forecast the future … (0 comments)
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economy: Treasuries Rise as Investors Predict Slower U.S. Growth - 06/13/07 02:11 AM
Well it's about time!Looks like we can all take a breather today...thank goodness after what happened to rates yesterday!!U.S. Treasuries rebounded as some Asian investors said benchmark yields at a five-year high are attractive given the outlook for a slowdown in U.S. economic growth and inflation. Consumer spending, which accounts for … (3 comments)
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economy: Federal Reserve Board: Banking Agencies Issue Host State Loan-to-Deposit Ratios - 06/12/07 05:16 PM
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today issued the host state loan-to-deposit ratios that the banking agencies will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act … (0 comments)
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economy: Commercial Real Estate Buffeting Residential Slowdown - 06/11/07 05:25 PM
STUDY SHOWS: COMMERCIAL REAL ESTATE DEVELOPMENT KEEPS ECONOMY FROM STALLING DESPITE HOUSING SLOWDOWN According to a recently publish report based on analysis conducted by the Center for Regional Analysis at George Mason University (CRA) and sponsored by the National Association of Industrial and Office Properties (NAIOP) Research Foundation, in 2005 -- the latest comprehensive data … (0 comments)
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economy: Mortgage Market Update - For the Week of June 11th - 06/11/07 11:54 AM
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economy: U.S. Treasuries Decline as Investors Abandon Rate-Cut Forecasts - 06/11/07 10:20 AM
U.S. Treasuries fell, adding to five weeks of losses, as Federal Reserve Bank of Cleveland President Sandra Pianalto said inflation is ``uncomfortably high.'' Fourteen of the 21 primary dealers that underwrite the government's debt, including Merrill Lynch & Co. and Goldman Sachs Group Inc., boosted their year-end estimate for the central … (2 comments)
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economy: U.S. Treasuries Decline as Investors Abandon Rate-Cut Forecasts - 06/11/07 10:19 AM
U.S. Treasuries fell, adding to five weeks of losses, as Federal Reserve Bank of Cleveland President Sandra Pianalto said inflation is ``uncomfortably high.'' Fourteen of the 21 primary dealers that underwrite the government's debt, including Merrill Lynch & Co. and Goldman Sachs Group Inc., boosted their year-end estimate for the central … (0 comments)
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economy: Week to Watch the Markets for Interest Rate Trend Indications - 06/11/07 09:37 AM
Last week we witnessed an anomoly in the Financial Markets. Stocks went "down" and Bonds also went "down" (yields went up). These are nearly contradictory movements. Traditionally as money flees "from" equities (Stocks) it flees "to" Bonds, increasing Bond prices and simultaneously reducing yields. There were global events (New Zeland, et … (0 comments)
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economy: To "Zillow" or Not to "Zillow" - that is the question. (I'ts nobler to use a Realtor(R)) - 06/08/07 01:19 PM
What about Zillow.com? Should it be used to determine the value of any property? "I can do it myself" can cost you much more than you may have thought.Here's a fresh comparison of Properties' Listed Prices, Sold Prices and Zillow's "Zestimate" for three different communities (Prices are rounded). You can see that … (10 comments)
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economy: Labor Stats Report - Likely Effect on Interest Rates - 06/06/07 05:16 PM
The Bureau of Labor Statistics reported today (June 6th) on Productivity, which was down about .7 (Business previously at 1.3, revised down to .0.5 and Non-Farm Business previously reported at 1.7 and revised down to 1.0) and the number of hours worked was down. More troublesome though, were the BLS' revisions … (0 comments)
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economy: Celebrate Fairfax - Fairfax County Expo (June 8th - 10th, 2007) - 06/06/07 08:32 AM
Celebrate Fairfax Northern Virginia's largest community-wide celebration, Celebrate Fairfax!, arrives June 8-10, at the Fairfax County Government Center. This annual festival is filled with fascinating sights and sounds with more than 400 exhibitors, vendors, crafters, and interactive activities. Celebrate Fairfax! includes live concerts on six stages, a SciTech Center, a children's … (0 comments)
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economy: The FED Chairman Ben Bernanke Speaks About Real Estate slump - 06/05/07 04:29 PM
June 5, 2007-- When Ben talks, people listen. And I'm one of those people!! Some comments were released today from the Federal Reserve Chairman Ben S. Bernanke talked to the International Monetary Conference in Cape Town, Africa. I wanted to share with you what I thought were the more interesting comments. … (1 comments)
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economy: Fed Chairman Speaks out on the Economy and Housing - 06/05/07 10:35 AM
At today's (June 5th) address to the 2007 International Monetary Conference, Cape Town, South Africa (via satellite) Ben Bernanke, Chairman of the Fereral Reserve Board noted:"As you know, the downturn in the housing market has been sharp. From their peaks in mid-2005, sales of existing homes have declined more than 10 percent, … (1 comments)
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economy: Inventory Increases in Ann Arbor - 06/05/07 07:43 AM
Housing Changes in Ann Arbor Board of Realtors Last 9 YearsListings ( all properties) Sales Days On MarketApril 2007 1601 298 87 April 2006 1588 355 86 April 2005 1507 407 77 April 2004 1102 372 69 April 2003 989 430 79 April 2002 987 430 72 April 2001 962 371 53 April 2000 731 321 58 April … (16 comments)
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economy: Factory Orders Up . . . but Not! (Inflationary Pressure?) - 06/04/07 03:22 PM
The Commerce Department reported today (June 4, 2007) that Factory Orders for manufactured goods were up 0.3% for April '07. This report surprised industry analysts who were forecasting .7-.8% increases for non-durable goods, more than double the actual report. This report also reflects a decrease from March '07 by 3.8% when factory … (0 comments)
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economy: Housing Market Update (from Marketwatch) - 06/04/07 12:13 PM
WASHINGTON (MarketWatch) -- U.S. home prices rose 0.5% in the first quarter of the year compared with the fourth quarter, the slowest price gain in 10 years, the Office of Federal Housing Enterprise Oversight reported Thursday. The OFHEO price index is up 4.3% compared with the first quarter of 2006. Prices … (1 comments)
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economy: Mortgage Market Update - For the Week of June 4th - 06/04/07 11:23 AM
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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: Views You Can Use Newsletter - June 2007 - 06/01/07 03:15 PM
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