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- Staten Island’s Foreclosure Row
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F…
Original Source: bp2.blogger.com/_GMFF5jY6gGs/SAPZm4RSRC
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15 April, 2008| housingblogs |
Comments (0) @ 23:54
- Housing: March was a Bust
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From some stories today:“With the traditional home buying season now well underway, we have not seen the bump in sales activity that we normally would this time of year.”Sandy Dunn, NAHB president, April 15, 2008The seasonal boost in sales between February and March was less than half its normal level and a record low. The weak start to the home buying season also saw another record dive in the median sales price ……
Original Source: feeds.feedburner.com/CalculatedRisk
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15 April, 2008| housingblogs |
Comments (0) @ 23:36
- Now It’s Not A Trickle In California
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The LA Times reports from California. “Houses and condominium units in Los Angeles, Orange, Ventura, San Bernardino, Riverside and San Diego counties sold at a median price of $385,000 last month, the lowest since April 2004, according to DataQuick. The total number of homes sold, 12,808 in Southern California, was about half the average March sales total since DataQuick began compiling its statistics in 1988. Last month’s sales total was down 41.4% from March 2007.”
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Original Source: thehousingbubbleblog.com
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15 April, 2008| housingblogs |
Comments (0) @ 23:30
- Now It’s Not A Trickle In California
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The LA Times reports from California. “Houses and condominium units in Los Angeles, Orange, Ventura, San Bernardino, Riverside and San Diego counties sold at a median price of $385,000 last month, the lowest since April 2004, according to DataQuick. The total number of homes sold, 12,808 in Southern California, was about half the average March sales total since DataQuick began compiling its statistics in 1988. Last month’s sales total was down 41.4% from March 2007.”
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Original Source: thehousingbubbleblog.com
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15 April, 2008| housingblogs |
Comments (0) @ 23:30
- Remodel on the cheap
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Buy used. You’ll save a bundle, and the secondhand stuff is often higher quality than you can get in a store. Here are 4 ways to save.
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Original Source
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15 April, 2008| housingblogs |
Comments (0) @ 22:27
- WaMu: $3.5 billion Provision for Credit Losses
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From the WSJ: WaMu Reports $1.14 Billion Loss Washington Mutual Inc., which has been rocked by the meltdown in the housing market, swung to a first-quarter loss of $1.14 billion amid increased provisions for credit losses….WaMu on Tuesday also announced the closing of the $7 billion cash injection it announced last week….WaMu’s provision for credit losses soared to $3.51 billion from $234 million a year earlier. Net charge-offs, loans it doesn’t think are collectable, rose to $1.37 billion from $737 million a year earlier. Non-performing assets rose to 2.87% of total assets from 1.02%.A…
Original Source
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15 April, 2008| housingblogs |
Comments (0) @ 21:40
- Quote of the Day: Regions Financial on Walking Away
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From the Regions Financial conference call: Steven Alexopoulos, JP Morgan - Analyst: In terms of home equity, the second lien that went delinquent, or into default in the quarter, what were you typically doing there? Where were you writing them down, holding the judgment, or are you going through with buying out the first and going through foreclosure?Dowd Ritter, Regions Financial Corp. - CEO & President: …
Original Source: feeds.feedburner.com/CalculatedRisk
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15 April, 2008| housingblogs |
Comments (0) @ 21:20
- Mr. Miller’s Wild Trip and the Latest DQNews Data
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This article on risky real estate markets was featured on the Yahoo Frontpage just a few days ago, here’s a quote on San Diego:”In cities like San Diego…
Original Source
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15 April, 2008| housingblogs |
Comments (0) @ 21:04
- Foreclosures: Leaving Homes And A Financial Mess Behind
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Posted By:Diana OlickAn interesting tidbit from this month’s RealtyTrac foreclosure report. The online service provides data on default notices, auction notices and bank reposessions, as well as lists foreclosed properties for a fee. …
Original Source
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15 April, 2008| housingblogs |
Comments (0) @ 20:33
- Levee Breaks
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When the Levee Breaks — Led Zeppelin
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Today’s featured property is another mortgage equity withdrawal casualty. Properties like this underscore the dangers of partaking in the appreciation kool aid of the Great Housing Bubble. Most, if not all, of the people who believed in endless appreciation and serial refinancing took out their equity. Many utilized Option ARMs, and they are going to lose their homes. Think about the ramifications of that belief and the decision it influenced: Homeowners who did not take out their equity and refinance with Option ARMs are not going to be in financial trouble, and they will keep their homes. Those that did take out their equity a…
Original Source
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15 April, 2008| housingblogs |
Comments (0) @ 20:28
- Milling for housing
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Uri Kaufman, a Long Island developer and a member of the Lawrence School Board, has a thing for mills.
Kaufman, who already converted an old mill in upstate Cohoes into 96 apartments, plans to do the same to another in the city of Amsterdam, according to a report in Albany’s Business Review.
The two buildings of the former Chalmers Knitting Company sit on about five acres along the Mohawk River, and Kaufman said he wants to put in about 200 apartments. He said the project is feasible only because of a $1.4 million Restore New York grant Amsterdam received for environmental clean up and interior demolitions.
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Original Source: spacedoutli.wordpress.com
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15 April, 2008| housingblogs |
Comments (0) @ 19:54
- A Risk Worth Monitoring
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Some housing bubble news from Wall Street and Washington. AP, “A reading of U.S. homebuilders’ sentiment remained unchanged in April, just shy of its record low for the third consecutive month as the housing market failed to recover. The National Association of Home Builders said Tuesday its housing market index came in at 20 this month, the third-lowest reading on record. Index readings higher than 50 indicate positive sentiment. The index has been at 20 or below since September, and below 50 since May 2006.”
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Original Source: thehousingbubbleblog.com
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15 April, 2008| housingblogs |
Comments (0) @ 19:17
- DataQuick on SoCal: Record House Price Decline, Record Low Sales for March
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From DataQuick: Southland home sales log tepid gain; record price drop The onset of spring did little to thaw Southern California’s semi-frozen housing market: The seasonal boost in sales between February and March was less than half its normal level and a record low. The weak start to the home buying season also saw another record dive in the median sales price,…
Original Source
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15 April, 2008| housingblogs |
Comments (0) @ 19:02
- Orange County House Prices Off 20% YoY, Back to March 2004 Levels
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The DataQuick numbers for SoCal will be available soon.From Jon Lansner at the O.C. Register: March home price ($506,000) is a 4-year low DataQuick’s final count of Orange County home-buying activity last month shows the median selling price for all residences at $506,000 — the lowest since March ‘04 and off 19.6% from a year ago. Buyers grabbed 1,663 homes last month down 46.9% from a year ago. It’s the 30th consecutive month where total sales failed to beat the year-ago level.
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Original Source: feeds.feedburner.com/CalculatedRisk
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15 April, 2008| housingblogs |
Comments (0) @ 18:40
- Rewind: SoCal home prices fall to 2004 levels
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Southern California’s historic housing slump worsened in March as bargain-hunters buying foreclosed properties pushed median sales prices down to levels last seen in early 2004, DataQuick reported today in another gloomy assessment of the regional housing market. DataQuick’s analysis shows California median home prices dropping by roughly $2,300 per week over the last year….
Original Source
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15 April, 2008| housingblogs |
Comments (0) @ 18:27
- Local Foreclosures Still on the Rise
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Hmm, odd. The pace of foreclosures in the Seattle area seems to still be increasing.
The nationwide foreclosure surge continued in March, with the Seattle area following along at a lesser rate, according to a new report Monday.
The number of properties with foreclosure filings nationwide rose 57 percent in March from a year earlier and 5 percent from February, according to RealtyTrac, an Irvine, Calif., company that tracks foreclosures.
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Original Source: feeds.feedburner.com/SeattleBubble
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15 April, 2008| housingblogs |
Comments (0) @ 18:03
- NAHB: Builder Confidence Unchanged at Near Record Lows
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Click on graph for larger image.The NAHB reports that builder confidence was at 20 in April, unchanged from 20 in March. Usually housing bottoms look like a “V”; this one will probably look more like an “L”. (this refers to activity like starts and sales, but will probably also be apparent in the confidence survey). …
Original Source: feeds.feedburner.com/CalculatedRisk
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15 April, 2008| housingblogs |
Comments (0) @ 18:00
- $113.93 a barrel
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Original Source: bp3.blogger.com
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15 April, 2008| housingblogs |
Comments (0) @ 17:03
- Bank of England fails to meet inflation target (again)
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It is a mark of how desperate the calls for a rate cut have become. Today, the CPI was flat, but well above the 2 percent BoE target. Yet, the news was welcomed as a sign that the Bank will feel confident enough to cut rates further….
Original Source: bp1.blogger.com
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15 April, 2008| housingblogs |
Comments (0) @ 16:52
- Spend to save
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“Underpinning those borrowers in serious and short-term financial difficulty to help minimize the level of repossessions is a clear spend-to-save policy.”Stephen Crawshaw, Chairman of the Council of Mortgage Lenders….
Original Source: bp1.blogger.com
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15 April, 2008| housingblogs |
Comments (0) @ 16:25
