prices: Foreclosures, Gov't Action, And The Recovery - 05/18/10 07:22 AM
http://codyburnett.wordpress.com/2010/05/14/foreclosures-govt-action-and-the-recovery/
Economist Dean Baker, co-director of the Center for Economic and Policy Research, says federal programs have led to an artificial stabilization in the market. In order to deal with the glut of distressed properties, he feels people facing foreclosure should be allowed to stay in their homes as renters until they can renegotiate their mortgage.
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prices: Shadow Inventory and The Housing Recovery - 05/17/10 07:07 AM
The housing market's current mix of ups and downs has experts and industry insiders forecasting a variety of possible outcomes over the next few months and beyond. The shadow inventory looms large among many factors influencing whether the recent stretch of stability continues or the market takes a downturn. Estimates of the number of homes that are ready to sell but haven't been put on the market vary. A recent report from Barclays Capital says the shadow inventory will peak this summer and begin falling as the market stabilizes. But with an estimated 4.5 million homes potentially hitting the market over … (0 comments)

prices: Homes For Sale, Price Cuts Rise In April - 05/06/10 06:46 AM
The number of homes for sale in 27 major metropolitan areas was up 2.6 percent in April from a month earlier, according to ZipRealty. The figures, which cover all single-family homes, condominiums, and town houses listed for sale, showed April's inventory down 9.6 percent from a year ago but doesn't take into account the supply of potential foreclosures that may hit the market this year. Zillow.com reports the percentage of available homes that cut their asking price also rose. According to the website, nearly one in four homes dropped their asking price in April, though the median price cut was down … (2 comments)

prices: Home Prices See First Annual Increase Since 2006 - 04/28/10 03:41 AM
According to the Standard & Poor's/Case-Shiller Home Price Indices (http://www.standardandpoors.com/spf/docs/case-shiller/CSHomePrice_Release.pdf), home prices posted their first annual increase in three years. S&P's 10-city index was up 1.4 percent from February 2009 and the 20-city index was up 0.6 percent. Despite the year-over-year gains, David Blitzer, chairman of the S&P index committee, warned that it's too early to say the market is recovering. Home prices are up 3 percent from their bottom, but are still down more than 30 percent from their 2006 peak. More here (http://www.reuters.com/article/idUSTRE63Q26720100427) and here (http://www.msnbc.msn.com/id/36799404/ns/business-real_estate/).
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prices: New Home Sales Surge In March - 04/26/10 06:20 AM
In March, sales of new single-family homes were up 26.9 percent over February's rate, according to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development (http://www.census.gov/const/newressales.pdf). The jump was the largest monthly increase in 47 years and is 23.8 percent above last year's estimate. Also, the median sales price of new homes was $214,000 with an average price of $258,600. More here (http://www.msnbc.msn.com/id/36735173/ns/business-real_estate/) and here (http://www.housingwire.com/2010/04/23/new-home-sales-soar-nearly-27-in-march/).
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prices: Encouraging Signs For Housing Recovery - 04/16/10 11:23 AM
http://codyburnett.wordpress.com/2010/04/16/encouraging-signs-for-housing-recovery/
Ron Phipps, president-elect of The National Association of Realtors, is optimistic about the housing market and encouraged by stabilizing prices, recent increases in sales activity, and better unemployment numbers.
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Cody Burnett, Real Estate Pro (Connect Realty)

Cody Burnett

Real Estate Pro

Bentonville, AR

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