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- A Few Properties Still Seeing Multiple Bids
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I wonder if Aubrey Cohen is getting story ideas from reading Seattle Bubble? In the big front page feature article in today’s P-I, Aubrey takes a look at something a that a few home seekers commenting here have talked about: the continued competition for homes in a handful of certain price ranges and neighborhoods.
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Original Source: feeds.feedburner.com/SeattleBubble
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2 May, 2008| housingblogs |
Comments (0) @ 16:46
- Fifth Third Says ‘No Way’ to Alt-A
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A new memo from Fifth Third notifies recipients that effective immediately (with a little time to fund the existing pipeline) that the bank is out of the Alt-A business entirely. And in a refreshing turn - all sales channels are affected. Retail and wholesale alike will lose Alt-A products previously offered by the “super-regional” bank.
Here’s a copy of the announcement:
Important Announcement
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Original Source: feeds.feedburner.com/typepad
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2 May, 2008| housingblogs |
Comments (0) @ 16:11
- It Isn’t About Location, Location, Location Anymore
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The Capital Times reports from Wisconsin. “It was billed as a $100 million ‘urban village,’ a project to energize the entire east side. Union Corners promised to transform the site of a contaminated battery factory three miles from the Capitol into a mix of condominiums, offices and retail shops. But today the 15-acre site is a tangle of empty lots, broken concrete and piles of gravel along one of the city’s busiest corridors.”
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Original Source: thehousingbubbleblog.com
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2 May, 2008| housingblogs |
Comments (0) @ 15:51
- It Isn’t About Location, Location, Location Anymore
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The Capital Times reports from Wisconsin. “It was billed as a $100 million ‘urban village,’ a project to energize the entire east side. Union Corners promised to transform the site of a contaminated battery factory three miles from the Capitol into a mix of condominiums, offices and retail shops. But today the 15-acre site is a tangle of empty lots, broken concrete and piles of gravel along one of the city’s busiest corridors.”
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Original Source: thehousingbubbleblog.com
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2 May, 2008| housingblogs |
Comments (0) @ 15:51
- Fed Increases TAF, expands collateral for TSLF
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From the Federal Reserve: … The Federal Reserve announced today an increase in the amounts auctioned to eligible depository institutions under its biweekly Term Auction Facility (TAF) from $50 billion to $75 billion, beginning with the auction on May 5. …… the Federal Open Market Committee has authorized further increases in its existing temporary reciprocal currency arrangements with the European Central Bank (ECB) and the Swiss National Bank (SNB). These arrangements will now provide dollars in amounts of up to $50 billion and $12 billion to the ECB and the SNB, respectively, representing increases of $20 billion and $6 billion…….
Original Source: feeds.feedburner.com/CalculatedRisk
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2 May, 2008| housingblogs |
Comments (0) @ 14:08
- STEPHEN C. DATZ OPENS MAY 17TH AT ACT I GALLERY
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PRESS RELEASE4th ANNUAL ONE-MAN EXHIBITION FEATURING THE WORK OF…
Original Source: galleryrealtyoftaos.com
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2 May, 2008| housingblogs |
Comments (0) @ 14:04
- From the Taos Chamber - Food & Farm Expo News
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Greetings Chamber Members & Friends:Sustain Taos and TCEDC are proud to announce that the 2008 Farm and …
Original Source: farm3.static.flickr.com
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2 May, 2008| housingblogs |
Comments (0) @ 13:54
- Jobs: Nonfarm Payrolls Decline 20,000
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From the BLS: Employment Situation Summary Nonfarm payroll employment was little changed in April (-20,000), following job losses that totaled 240,000 in the first 3 months of the year, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The unemployment rate, at 5.0 percent, also was little changed in April. Employment continued to decline in construction, manufacturing, and retail trade, while jobs were added in health care and in professional and technical services. …
Original Source: feeds.feedburner.com/CalculatedRisk
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2 May, 2008| housingblogs |
Comments (0) @ 13:44
- Good Vacation Home News in the Wall Street Journal
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Though not mentioned specifically, Taos certainly has a stake in how the national and worldwide markets go in second and vacation homes. In the Wall Street Journal Blog, a post speaks to the “Optimistic Outlook for Luxury Vacation-Home Market.”
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Original Source: farm1.static.flickr.com
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2 May, 2008| housingblogs |
Comments (0) @ 13:43
- Commerce Secretary Gutierrez on Economy
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Original Source: www.mortgagenewsdaily.com
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2 May, 2008| housingblogs |
Comments (0) @ 13:32
- A Real Live Walkaway
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You all know I’ve been looking for evidence of this trend. And reader P.C. sent me a doozy.Next up is 5015 Meadowlark Court in the Foxwood Forest neighborhood in northern Albemarle County. Here, the owner owes $500,000 on the first deed of trust. But this time there are two additional liens on the property– $150,000 on a second deed of trust and $75,000 on a third note, a credit line, according to Albemarle County records. . . ….
Original Source
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2 May, 2008| housingblogs |
Comments (0) @ 12:32
- Who’s the Worst CEO in America?
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Original Source: www.mortgagenewsdaily.com
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2 May, 2008| housingblogs |
Comments (0) @ 11:02
- Bits Bucket And Craigslist Finds For May 2, 2008
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Please post off-topic ideas, links and Craigslist finds here.
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Original Source: thehousingbubbleblog.com
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2 May, 2008| housingblogs |
Comments (0) @ 11:01
- Photos of the Week
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Photo of the Week:
NOLA 2008 - A Photo Essay In Three Frames by NJPatient
New Construction in Old MetairieBalconies in the French Quarter
Del McCoury at Jazz Fest
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Original Source: njrereport.com
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2 May, 2008| housingblogs |
Comments (0) @ 10:30
- Foreclosure: It’s Not Just For Poor Folks Any More
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Even rich guys are walking away from their underwater properties these days:
[Thanks L!]
Former U.S. baseball star Jose Canseco said on Thursday he had lost his California mansion to foreclosure — one of the first celebrities to publicly admit being a statistic in the U.S. housing crisis.
Canseco, 43, one of the most flamboyant U.S. baseball players until his retirement from the major leagues in 2001, told the celebrity TV show "Inside Edition" that it did not make financial sense to keep his 7,300 square-foot (678.2 sq-metro) home in the Los Angeles suburb of Encino….
Original Source: housingdoom.com
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2 May, 2008| housingblogs |
Comments (0) @ 8:01
- Phoenix April Home Sales Preview: May Equal Last Year’s Sales
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Many thanks to M for our monthly update. A reminder that these figures are a "preview" only- the "sold" number usually creeps up just a bit for a couple of days.
ALL MLS
Active 54,705
Under contract 7.969…
Original Source: housingdoom.com
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2 May, 2008| housingblogs |
Comments (0) @ 8:01
- BMIT Certified RE Guru of the Month
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There are so many real estate Gurus out there that it is hard to figure out who to give your seminar money to these days. Well, BMIT has found the Guru for you!This beautiful house on 2934 Rancho Cortes in Carlsbad is proof that our Guru in question is the Real Deal! John B has inspired countless folks with his prospective change program, teaching it to inmates to top executives. He has also found ways to purchase real estate for little or no money down. This 4,284 s…
Original Source: bubbletracking.blogspot.com
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2 May, 2008| housingblogs |
Comments (0) @ 5:53
- So Much For The Jumbo “Rescue”
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Remember how we were told that raising the conforming limits would help higher priced markets? It doesn’t seem to be working: [Thanks G!]
The New York Times reported on Wednesday that there are real problems with the jumbo mortgage aspect of housing rescue.
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Original Source: housingdoom.com
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2 May, 2008| housingblogs |
Comments (0) @ 5:37
- April Sales Numbers
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I see that discussion has already started on April’s sales numbers, as published by the VREB. Listings are up, sales numbers are down. I think that the average sales price for this past month is a mute point. As long as inventory rises and quantity of sales decreases, we move into, if we aren’t already there, a buyer’s market. Prices then start to decrease. Sellers are still holding out at this point because they see their neighbour sell their house for near asking price, yet they don’t see the five other neighbours that aren’t selling their homes….
Original Source
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2 May, 2008| housingblogs |
Comments (0) @ 4:57
- Employment Sector Winners and Losers
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Earlier this month, we saw that San Diego employment declined on a year-over-year basis in March — something that hadn’t happened during the last recession (nor for 15 years, according to the U-T).
The accompanying graph shows how many jobs were added year-over-year by the top four sectors for employment growth how many were lost by the bottom four sectors. Over each bar, I have noted the average hourly wage within that sector (for some reason, the BLS site does not report government sector wages — perhaps they consider that a little too personal).
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Original Source
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2 May, 2008| housingblogs |
Comments (0) @ 4:03