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Home Prices Plunge Again, Deliquencies & Foreclosures Accelerate

Home Prices in U.S. Fall 12.7%, Most Since 2001 by Bloomberg - snips:Home prices in 20 U.S. metropolitan areas fell in February by the most on record, pointing to an imbalance between supply and demand that shows no sign of ending. The S&P/Case-Shiller home-price index dropped 12.7% from a year earlier, more than forecast…
Original Source: feeds.feedburner.com/nychousingbubble


  29 April, 2008| housingblogs | Comments (0) @ 23:58
The Boom Has Turned Into A Bust For Many

The San Francisco Chronicle reports from California. “Like a brick cast from the top of the Transamerica Pyramid, national and local home prices are rapidly accelerating on their way down. The average cost of a Bay Area home dropped 17.2 percent year-over-year in February, compared to 13.2 percent in January and 10.8 in December, according to the Standard & Poor’s/Case-Shiller report released Tuesday.”

Original Source: thehousingbubbleblog.com


  29 April, 2008| housingblogs | Comments (0) @ 23:57
Town of Taos News Brief #40, April 29, 2008

1) National Guard Training for “First Responders” May 5-9 in Taos
With a full scale training exercise planned for Taos on May 7th, and many other activities scheduled for May 5-9, the 64th Civil Support Team, New Mexico National Guard G Unit, will be in the area conducting first responder training programs as continuing education for the area’s already well-prepared teams. This will be the 7th full scale exercise for the area, according to National Guard Cpt. Robert Aguilar, Robert.aguilar@us.army.mil. Northern New Mexico first responders will be participating, including but not limited to, the Taos Volunteer Fire Department, Town of Taos Police Department, New Mexico State Police, Taos County EMS, Taos County Sheriff’s Department, representatives from Questa, Angel Fire, and other surrounding communities/various departments. Cpt. Aguilar has indicated that these programs could not be pulled off without the active support and participation of the Taos Volunteer Fire Department (contact Eric Montoya, Administrative Fire Chief at 575-737-2609, emontoya@taosgov.com for more details) and other Town of Taos emergency response professionals. The public is advised that during May 5-9 at Holy Cross Hospital and other public locations, exercises in progress may be encountered. For obvious training reasons, the details of times and locations of activities cannot be shared. The public should simply be aware that these are training programs, simulating disasters in order to continue to refine and improve first responders’ capabilities….
Original Source: galleryrealtyoftaos.com


  29 April, 2008| housingblogs | Comments (0) @ 23:50
Islip shoots for Energy Star

The Town of Islip will vote tonight to force builders to adhere to Energy Star standards for all new residential construction.
The town board will also consider resolutions for Islip to receive carbon reduction credits that can then be sold to provide additional revenue to the town’s Resource Recovery Agency.
If approved, the town will receive credit for burning methane at its landfill facilities. The credits would then be sold on the Chicago Climate Exchange or directly to other municipalities and businesses nationwide looking to purchase credits to offset their own carbon emissions.

Original Source: spacedoutli.wordpress.com


  29 April, 2008| housingblogs | Comments (0) @ 23:46
Homeownership and Vacancy Rates

Homeownership RateYesterday the Census Bureau reported the homeownership and vacancy rates for Q1 2008. Here are a few graphs and some analysis ……
Original Source: bp0.blogger.com/_pMscxxELHEg/SBecQ8ncvm


  29 April, 2008| housingblogs | Comments (0) @ 23:04
Your call: Ventura or San Buenaventura?

This blog voted thumbs-down on the ultimately failed attempt to change the name of El Porto to, um, something else. (It’s still El Porto here, thus it was a failed attempt.)

Original Source


  29 April, 2008| housingblogs | Comments (0) @ 22:49
Your call: City of Ventura, of San Buenaventura?

This blog voted thumbs-down on the ultimately failed attempt to change the name of El Porto to, um, something else. (It’s still El Porto here, thus it was a failed attempt.)

Original Source


  29 April, 2008| housingblogs | Comments (0) @ 22:49
HousingPANIC Strange Observation of the Day

Sacrament…
Original Source: bp3.blogger.com


  29 April, 2008| housingblogs | Comments (0) @ 22:36
L.A. home prices falling, and faster

Month

L.A. Index

monthly % change

yoy % change

April 2007

263.4

-…
Original Source: feeds.latimes.com


  29 April, 2008| housingblogs | Comments (0) @ 21:58
Invasion of the Body Snatchers

USA Today had a very interesting roundtable discussion of housing.  There were some very interesting (and wrong) opinions put forth, however I was more than delighted at some of the quotes of Lawrence Yun’s (Chief Economist of the National Association of Realtors), and successor to the discredited David Lereah (Pronounced LI-AR).

Original Source: www.socalbubble.com


  29 April, 2008| housingblogs | Comments (0) @ 21:36
February Case-Shiller HPI

Yet another crunchy beating was dispensed to the Case-Shiller-HPI last month.
read more…
Original Source: piggington.com


  29 April, 2008| housingblogs | Comments (0) @ 21:13
Dunkin in Deer Park

A half-acre parcel of vacant land in Deer Park was sold for $800,000, according to Michael Maffettone of Prudential CRES Commercial Real Estate in Medford who brokered the deal.
The new owner is planning to build a Dunkin Donuts with a drive-thru on the site at 2025 Deer Park Avenue. The donut store plan is currently in the building approvals process with the Town of Babylon.

Original Source: spacedoutli.wordpress.com


  29 April, 2008| housingblogs | Comments (0) admin @ 21:11
S&P: LandSource Bankruptcy Expected in May

From S&P Leveraged Commentary & Data: LandSource bankruptcy filing expected in May as cash runs out (hat tip marmadogg)The S&P unit believes LandSource will file bankruptcy within the next two to three weeks.The WSJ reported last week on the default notice From the WSJ: Calpers-Linked Land Partnership Gets Default Notice …
Original Source: feeds.feedburner.com/CalculatedRisk


  29 April, 2008| housingblogs | Comments (0) @ 20:57
Cheap?

Cheap is relative. Compared to pricing at the peak, the prices of houses in Irvine right now are cheap. Of course, they will get cheaper, but today’s property caught my attention because I did not get an overwhelming feeling of revulsion at the high price. That is real progress. I am not sure what attracted me to this property. Perhaps it is like ZZ Top’s Cheap Sunglasses.

Original Source


  29 April, 2008| housingblogs | Comments (0) @ 20:30
‘No sign of a bottom’ for housing

38306674The monthly Case-Shiller numbers — the ones based on repeat sales of the same house — show L.A. housing prices fell by 19.4% over the past year, t…
Original Source: latimesblogs.latimes.com


  29 April, 2008| housingblogs | Comments (0) @ 20:12
What do you do when you made the biggest financial mistake of your life, closed on that Florida condo, and now you have no neighbors?


Original Source: bp0.blogger.com


  29 April, 2008| housingblogs | Comments (0) @ 20:08
Home prices post record declines

February home prices posted record declines according to the S&P Case/Shiller Home Price Index, which was released Tuesday.

Original Source: money.cnn.com


  29 April, 2008| housingblogs | Comments (0) @ 20:00
Housing rescue slows as defaults rise

The pace of housing rescue efforts slowed in the first quarter of the year, according to a new report, while the number of people losing their homes to foreclosure skyrocketed during the same period.

Original Source: money.cnn.com


  29 April, 2008| housingblogs | Comments (0) @ 19:59
Good credit no shield from bad loans

A good credit score doesn’t mean you can’t end up in foreclosure.

Original Source


  29 April, 2008| housingblogs | Comments (0) @ 19:58
Foreclosures spike 112%

One out of every 194 U.S. households received a foreclosure filing in the first three months of 2008, according to the latest figures released Tuesday by RealtyTrac.

Original Source: money.cnn.com


  29 April, 2008| housingblogs | Comments (0) @ 19:57
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