Continue reading Existing Home Sales Plunge

Existing Home Sales Plunge originally appeared on BloggingStocks on Tue, 24 Aug 2010 18:30:00 EST. Please see our terms for use of feeds.

Pending home sales rose 21.1% in March over 2009 numbers. The big driver was the expiration of the first time home buyer credit. Contracts had to be signed by the end of March to qualify. Nevertheless, these numbers are encouraging.

The National Association of Realtors' (NAT)' index stood at 102.9, up 5.3% It should be noted that pending sales lead existing sales by one to two months.

Separately, the Commerce Department released their numbers on manufactured goods. Excluding defense, factory orders were up 1.3%. Non defense capital goods, excluding aircraft were up 4.5%

Continue reading Pending Home Sales Surge 21.1% in March

Pending Home Sales Surge 21.1% in March originally appeared on BloggingStocks on Tue, 04 May 2010 17:00:00 EST. Please see our terms for use of feeds.

Continue reading Distressed Home Sales Back Up Near 2009 Peak

Distressed Home Sales Back Up Near 2009 Peak originally appeared on BloggingStocks on Thu, 08 Apr 2010 17:40:00 EST. Please see our terms for use of feeds.

Continue reading Opportunistic Real Estate Buying By Private Equity Poised to Pop in 2010

Opportunistic Real Estate Buying By Private Equity Poised to Pop in 2010 originally appeared on BloggingStocks on Mon, 22 Feb 2010 10:40:00 EST. Please see our terms for use of feeds.

Sales of existing homes plunged 17% in December, the sharpest drop since records began in 1968. The sales pace fell to 5.45 million annual rate from 6.54 pace the previous month.

Part of the reason for the drop was attributed to the termination of the first $8,000 tax credit for first time buyers. That kept buyers away from the market. Since then Congress has extended the tax credit. Realtors expect a pick up in sales going into the Spring season.

Continue reading Existing Home Sales Plunge 17% in December

Existing Home Sales Plunge 17% in December originally appeared on BloggingStocks on Mon, 25 Jan 2010 16:40:00 EST. Please see our terms for use of feeds.

The minutes of the recent Federal Reserve Meeting showed a continued concern over housing. Some members of the committee favored continued purchases of mortgage backed securities. The Fed is scheduled to end its purchase of $1.25 trillion of mortgage backed securities by the end of March. Those in this group held that pulling the plug in March was too soon.

Some members were comfortable with the current stabilization in the housing market and argued that ending the program was the right policy move. Fed officials said that in general, they see continued improvement in the housing market going forward.

Continue reading Fed Still Worried About Housing

Fed Still Worried About Housing originally appeared on BloggingStocks on Wed, 06 Jan 2010 19:00:00 EST. Please see our terms for use of feeds.

Continue reading Chasing Value: 2010 -- #2 Grubb & Ellis

Chasing Value: 2010 -- #2 Grubb & Ellis originally appeared on BloggingStocks on Tue, 29 Dec 2009 17:40:00 EST. Please see our terms for use of feeds.

Continue reading In the new era, old home price trend may not be the new home price trend

In the new era, old home price trend may not be the new home price trend originally appeared on BloggingStocks on Fri, 11 Dec 2009 16:20:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: The grinch comes early (INTC, HOTT, MVIS, ETFC, SHLD)

Closing Bell: The grinch comes early (INTC, HOTT, MVIS, ETFC, SHLD) originally appeared on BloggingStocks on Thu, 19 Nov 2009 16:00:00 EST. Please see our terms for use of feeds.

Continue reading Under the radar: Bidding wars resume for New York City housing

Under the radar: Bidding wars resume for New York City housing originally appeared on BloggingStocks on Tue, 17 Nov 2009 17:00:00 EST. Please see our terms for use of feeds.

If you're worried about the value of your home, 2010 could bring a little bit of good news. The National Association of Realtors reported Friday that home prices could edge 4% higher next year. In 2009, home prices declined by 13%. The association's chief economist, Lawrence Yun, says, "Going into 2010, I anticipate that prices will also begin stabilizing or begin to modestly improve." He continues, "I don't think the fear factor will be at play in 2010."

First-time buyers taking advantage of a range of incentives -- including an $8,000 tax credit -- accounted for 47% of transactions this year, up from 41% in 2008. With the credit extended to April 30, 2010, there's hope that first-timers will continue to breathe some life into the real estate market. According to Yun, approximately 2 million people gobbled up the tax advantage.

Continue reading Home values could creep up next year

Home values could creep up next year originally appeared on BloggingStocks on Sat, 14 Nov 2009 17:30:00 EST. Please see our terms for use of feeds.

A year ago, Manhattan homeowners lived within the firm grasp of the worst recession in 70 years. A skyrocketing real estate market seemed ready to come back to Earth, as carnage in the financial services industry - which spread to just about every other business - decimated incomes and net worths throughout the city.

From the second quarter to the third, this year, the sale of co-ops and apartments spiked between 46% and 69% according to several reports from the real estate business. Sales are still lower than last year, but the recovery has been nothing short of amazing (to the chagrin of those of us who had dreams of one day moving up from the rental class).

Prudential Douglas Elliman reported a price increase of almost 2% from the second quarter, though the median was down 8% to 18% from last year - to the $760,000 to $850,000 range. Jonathan Miller, president and CEO of Miller Samuel Inc., a real estate appraisal and consulting firm, calls this good news, but cautions that it doesn't mean we're at the bottom.

Continue reading Pricey Manhattan homes are moving again

Pricey Manhattan homes are moving again originally appeared on BloggingStocks on Mon, 05 Oct 2009 09:00:00 EST. Please see our terms for use of feeds.

Continue reading Mortgage applications jump

Mortgage applications jump originally appeared on BloggingStocks on Wed, 23 Sep 2009 16:15:00 EST. Please see our terms for use of feeds.

Anne Lacombe, spokeswoman for the Corcoran Group, a real estate broker involved in the transaction, said the home was under contract for more than asking but did not have information on the exact amount, buyer or closing date, according to the Associated Press.

Continue reading Madoff mansion moves for more than asking price

Madoff mansion moves for more than asking price originally appeared on BloggingStocks on Thu, 17 Sep 2009 18:00:00 EST. Please see our terms for use of feeds.

The U.S. housing market may be starting to turn, but in Manhattan, at least in the rental market, renters still have the upper hand.

Continue reading Tell-tale stat: Manhattan apartment rents continue to fall

Tell-tale stat: Manhattan apartment rents continue to fall originally appeared on BloggingStocks on Wed, 26 Aug 2009 17:00:00 EST. Please see our terms for use of feeds.

Continue reading New home sales rise in July

New home sales rise in July originally appeared on BloggingStocks on Wed, 26 Aug 2009 14:20:00 EST. Please see our terms for use of feeds.

Continue reading Ray of light: July existing home sales hint at a price bottom

Ray of light: July existing home sales hint at a price bottom originally appeared on BloggingStocks on Fri, 21 Aug 2009 17:30:00 EST. Please see our terms for use of feeds.

Homebuilder confidence hit a 1 year high

Continue reading Homebuilder confidence hits 12 month high

Homebuilder confidence hits 12 month high originally appeared on BloggingStocks on Mon, 17 Aug 2009 16:30:00 EST. Please see our terms for use of feeds.

When you're serving your country, there's a good chance you'll move around a few times . . . which can conflict with the traditional American dream of homeownership. Soldiers who bought homes several years ago could be stuck selling now at depressed prices -- and on fairly short notice.

Needless to say, the financial pressure can be profound. A Staff Sergeant with a decade of service behind him, for example, is paid just under $37,000 a year. Even when you add in the health care and other benefits provided by the Department of Defense, it's still hard to handle a serious loss on a home.

The February stimulus plan included provisions to help military personnel in this situation, but little has happened. Soldiers complain that information is hard to find and guidelines aren't available. So far, none of the funds have been disbursed, and the federal government is keeping its collective mouth shut.

Continue reading Military housing woes to persist for a while

Military housing woes to persist for a while originally appeared on BloggingStocks on Sun, 19 Jul 2009 15:00:00 EST. Please see our terms for use of feeds.

Continue reading June housing construction makes unexpected jump

June housing construction makes unexpected jump originally appeared on BloggingStocks on Fri, 17 Jul 2009 16:20:00 EST. Please see our terms for use of feeds.