paul roesch: As Stimulus Funds Run Out, Economic Fears Rise
- 07/01/10 02:36 AM
With home sales sliding, employers reluctant to hire and world stock markets gyrating wildly, the U.S. economy is in danger of stalling. Now one of its only reliable sources of fuel is running out: federal stimulus spending.Funds flowing from the $787 billion legislation passed last year have helped create hundreds of thousands of jobs and propped up social programs such as unemployment benefits. But with much of that money spent and lawmakers reluctant to approve another big round of spending, concerns are rising about what will replace it in the short term to keep the economy moving.Jitters about a global slowdown … (1 comments)
paul roesch: Economy adds 431K jobs
- 06/04/10 04:03 AM
Job creation by private companies grew at the slowest pace since the start of the year, as a wave of census hiring lifted payrolls by 431,000 in May. The unemployment rate dipped to 9.7 percent as people gave up searching for work.The Labor Department's new employment snapshot released Friday suggested that outside of the burst of hiring of temporary census workers by the federal government many private employers are wary of bulking up their work forces.That indicates the economic recovery may not bring relief fast enough for millions of Americans who are unemployed.Virtually all the job creation in May came from … (0 comments)
paul roesch: Housing Stays Highly Affordable for Fifth Consecutive Quarter
- 05/30/10 02:23 AM
Nationwide housing, bolstered by favorable interest rates and low house prices, hovered for the fifth consecutive quarter near its highest level of affordability since the series was first compiled 19 years ago, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI).The HOI showed that 72.2% of all new and existing homes sold in the first quarter of 2010 were affordable to families earning the national median income of $63,800, slightly higher than the previous quarter and near the record-high 72.5% set during the first quarter a year ago.“Today’s report is very encouraging because it indicates that homeownership … (0 comments)
paul roesch: Why Hiring a Professional Remodeler Is Smarter than a DIY Project
- 04/04/10 04:02 PM
When it comes time to remodel, many homeowners think “do-it-yourself” or DIY is the smartest and most cost effective way to get the job done. And while popular TV shows on HGTV and publications at the home improvement store boast the ease of such projects, Jeff Brecko, vice president of Aurora Custom Remodeling, advises homeowners to take an in-depth look at their project and consider all options before tackling such a large undertaking.“DIY projects can be great if you are taking on a small project, but when remodeling major portions of a home, such as a kitchen or bathroom, there are … (0 comments)
paul roesch: Commercial Property Values and Rents Expected to Keep Falling
- 04/03/10 02:11 AM
The commercial real estate outlook for the remainder of 2010 is grim. According to Deloitte’s recent online survey of real estate executives, 76 percent of respondents expect commercial property values to continue to fall this year, and 73 percent predict asking rents will follow the same trend.“The commercial real estate market continues to be adversely affected by one of the deepest recessions in decades,” said E.J. Huntley, principal of Deloitte Financial Advisory Services LLP and national leader of the real estate consulting practice. “Increased unemployment has resulted in less demand for office space, reduced rents, and an overall decline in commercial … (0 comments)
paul roesch: Sellers Slashing Prices by More Than 10 Percent in Florida - Buyers Market
- 03/21/10 01:57 PM
Home hunters are finding deals in South Florida, with sellers in Miami and Ft. Lauderdale having reduced their list price by an average of nearly 15%, or $36,000 in February 2010. In addition, one out of every two ‘for sale’ homes in Jacksonville included at least one price reduction in February, according to a monthly survey of home listings in 27 major U.S. housing markets conducted by online real estate brokerage ZipRealty.In Orlando, 47.7% of homes listed for sale in February included at least one price reduction, with sellers on average reducing the list price 2.39 times- the highest of any … (0 comments)
paul roesch: AUCTION: O'Fallon, IL Home Auction 3BR, 2BATH, basement 2 car Mar.26 Buyer Rep welcome
- 03/14/10 07:42 AM
Lovely 3BR, 2BATH Home with basement and 2 car attached garage located at 2122 Streamview Court in O'Fallon, IL 62269 will be sold to the Highest Bidder at Real Estate Auction on Friday, March 26, 2010 at 4:00 PM CDT subject to Seller Confirmation. The Home will be sold "As Is, Where Is and With All Faults". 2122 Streamview Court, O'Fallon, IL 62269 … (0 comments)
paul roesch: Missouri Prime Land Auction April 21 Augusta MO Wine Country Recreational Land
- 03/13/10 02:35 AM
Unusual Opportunity to buy Prime Missouri Land at auction convenient to St Louis MO. and airport. Approximately 145± acres of recreational property in St. Charles County, Missouri, will be auctioned at a real estate auction on site on Wednesday April 21 at 1PM. It is also available for pre-bidding online at http://bit.ly/ci6K0Z The property is located in the wine country of St. Charles County, Augusta, Missouri and will be auctioned through Father Time Auctions, the region’s leading real estate auction marketing firm.This property provides unique opportunities to own a great piece of rich land that could be used for recreation, development, … (0 comments)
paul roesch: MISSOURI AUCTION: Retail Bldg Auction Fri March 12 at 11AM CST Agents Buyer Rep welcome
- 03/10/10 03:52 AM
6595 Mall Drive, Cedar Hill, Jefferson Co, MO 63016 This one story brick commercial building currently occupied as a flower shop with a great location situated at 6595 Mall Drive, Cedar Hill, MO 63016 will be SOLD to the Highest Bidder at Real Estate Auction on Friday, March 12, 2010 at 11AM CST subject to Seller Confirmation. The Building will be sold "As Is, Where Is and With All Faults". Zoned Commercial. This commercial property has easy access to Highway 30 and can be seen from Highway 30 … (0 comments)
paul roesch: AUCTION: Commercial Bldg Auction Fri March 12 at 11AM CST Agents Buyer Rep welcome
- 03/08/10 03:27 AM
This one story brick commercial building currently occupied as a flower shop with a great location situated at 6595 Mall Drive, Cedar Hill, MO 63016 will be SOLD to the Highest Bidder at Real Estate Auction on Friday, March 12, 2010 at 11AM CST subject to Seller Confirmation. The Building will be sold "As Is, Where Is and With All Faults". Zoned Commercial. This commercial property has easy access to Highway 30 and can be seen from Highway 30. 6595 Mall Drive, Cedar Hill, Jefferson Co, MO 63016 … (0 comments)
paul roesch: Is It the Beginning of the End for Housing Crisis?
- 03/08/10 03:18 AM
A smaller percentage of mortgages were delinquent and the rate of those entering the foreclosure process slowed in the fourth quarter of 2009, possible signs that the foreclosure crisis that has gripped many of the nation’s housing markets is finally starting to ease, a trade group has reported.“We are likely seeing the beginning of the end of the unprecedented wave of mortgage delinquencies and foreclosures that started with the subprime defaults in early 2007,” said Jay Brinkmann, chief economist of the Mortgage Bankers Association, in a written statement.The delinquency rate for mortgages on one- to four-unit residential properties was a seasonally … (0 comments)
paul roesch: CRE Market Conditions Offer Investment Opportunities
- 03/05/10 12:54 AM
It’s no secret that for quite awhile commercial real estate (CRE) transactions, including distressed assets, have been at a standstill. But according to a new study by the global advisory firm AlixPartners LLP, that could all change in2010. In fact, the firm’s findings suggest that investment opportunities in the commercial sector could be bigger in the months ahead than even in the heady days of the early 1990s.Dennis Yeskey, a senior advisor and head of the CRE practice at AlixPartners, said, “Of course, commercial real estate fundamentals are still far from good, but I’ve never seen so much money sitting on … (0 comments)
paul roesch: Fannie's Losses Increase Request More Federal Funding
- 03/02/10 09:50 AM
Fannie Mae says it needs another $15.3 billion bailout from the U.S. Treasury, after the GSE came up $16.3 billion in the red for the fourth quarter of 2009 and posted a loss of $74.4 billion for all of last year.Although the housing crisis is showing signs of lessening in some major markets, it continues to take its toll on the nation’s largest mortgage financier. Fannie Mae’s 2009 annual losses widened compared to the $59.8 billion deficit recorded for 2008, and its Q4 results marked the GSE’s tenth consecutive quarterly shortfall.Since the government stepped in to take over the faltering mortgage … (1 comments)
paul roesch: Sandwich generation feels squeezed for space
- 03/01/10 12:30 PM
They're known as the "sandwich generation" — adults of a certain age who find that they must simultaneously care for their own growing children as well as their aged parents.That's been the general definition over the past 20 years. But the cruelties of the recent economy, along with the accelerated aging of the population, suggest that it might start to get a lot more crowded in that sandwich.Because of the aging of our population, Grandma is increasingly likely now to be coming home to live with you, either because she physically can't live alone anymore or because the stock market has … (0 comments)
paul roesch: Vegas House Bargains Dry Up
- 02/28/10 10:55 AM
Las Vegas is one of the foreclosure capitals of the U.S., with about one in four households behind on house payments or in mortgage foreclosure. Yet all three of these shoppers—a professional real-estate investor, a county official with federal funds designated for stabilizing neighborhoods and an installer of security systems who needs a new place to live—are frustrated."I thought it would be a heck of a lot easier," said Mr. Iuso, a renter who wants to buy a home but has been outbid eight times, usually by investors able to pay cash.Bargain hunters here and in many other metropolitan areas are … (0 comments)
paul roesch: Entrepreneurs Weigh Credit-Card Options
- 02/28/10 10:50 AM
Small-business owners who rely on their company's credit card to purchase big-ticket items or finance day-to-day operations won't see any benefits from this month's federal credit-card reform—unless they put those expenses on a personal card.The new law, which was passed last May and becomes effective Feb. 22, protects consumer cards against arbitrary interest rate increases, over-limit fees and clandestine term changes. But the reforms don't apply to the business cards used by many entrepreneurs, which may tempt some small business owners to give up those cards in favor of a consumer card.The problem, says Gerri Detweiler, a personal finance advisor for … (0 comments)
paul roesch: Commercial Mortgage Defaults Hit 16-Year High
- 02/27/10 09:50 AM
The default rate on commercial real estate mortgages held by U.S. banks closed out 2009 more than double what it was a year earlier. Real Capital Analytics reportedTuesday that the default rate on loans made for office, retail, hotel, and industrial spaces shot up to 3.8 percent in the fourth quarter of last year, compared to 1.6 percent for the same period in 2008. It’s the highest the rate has been since 1993, when it hit 4.1 percent, GlobeSt.com explained.Real Capital divides the commercial real estate (CRE) sector, with the property types above grouped together and multifamily apartment properties analyzed separately. … (0 comments)
paul roesch: Industry Pushes for Extension of Admin's Refinance Program
- 02/27/10 08:54 AM
The Obama administration’s Home Affordable Refinance Program (HARP) is set to expire on June 10. It’s a central component of the federal government’s foreclosureprevention efforts and is currently one of the only mortgage relief programs to help underwater borrowers refinance into more affordable loans.With the sunset date looming, several industry trade groups have joined forces to urge the Treasury Department and the Federal Housing Finance Agency (FHFA) to extend HARP for another year, and they say a decision needs to be made by March 10 to minimize further disruptions to housing markets and prevent foreclosures on creditworthy borrowers.Joining the Mortgage Bankers … (0 comments)
paul roesch: High FICO Scorers Default on Mortgages Faster Than Bankcards
- 02/27/10 08:49 AM
Reversing a long historic trend, mortgage default risk for consumers with high FICO scores now exceeds their credit card default risk, Minneapolis-based FICO recently reported. The provider of analytics and decision management technology said it uncovered this disturbing trend through observations taken from its subscription service for businesses, FICO Score Trends.Through its analysis, FICO discovered a parallel rise in mortgage delinquencies for higher-scoring U.S. consumers, and it found recent repayment behavior across the financial services industry has shifted significantly from historical norms. In 2005, bankcard accounts were three times more likely than mortgage loans to become 90 days delinquent, but in … (1 comments)
paul roesch: Underwater Mortgages Increase to 11.3M
- 02/24/10 12:53 PM
Negative equity continues to diminish the severity of foreclosure for many homeowners. Numerous industry studies show that borrowers become more likely to defaulton their mortgage or simply walk away from the debt obligation when they owe more on the home than it is worth. Despite that home values appear to be stabilizing in some markets, the number of underwater homeowners continues to grow.According to a new study released by First American CoreLogic Tuesday, more than 11.3 million residential properties were in negative equity at the end of 2009. That equates to 24 percent of all homes in the United States with … (2 comments)
I sell real estate assets fast and economically. I auction household, estate, real estate and downsizing auctions. Brokers and agents encouraged for referral of sellers and buyers.
Paul Roesch cell: 618-407-8479
With home sales sliding, employers reluctant to hire and world stock markets gyrating wildly, the U.S. economy is in danger of stalling. Now one of its only reliable sources of fuel is running out: federal stimulus spending.Funds flowing from the $787 billion legislation passed last year have helped create hundreds of thousands of jobs and propped up social programs such as unemployment benefits. But with much of that money spent and lawmakers reluctant to approve another big round of spending, concerns are rising about what will replace it in the short term to keep the economy moving.Jitters about a global slowdown … (1 comments)
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