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- The Field Of Dreams Ideas Seem Destined For A Long Wait
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Business Edge reports on Montana. “When Eric Watson first saw the unique chalets at Slopeside on Big Mountain in Whitefish, Montana, he thought they would appeal to companies that want to host retreats for employees and clients. ‘It’s Aspen living at Montana proportions,’ says Eric Watson, managing director of Calgary-based Ultimate Properties International, which is marketing the homes. ‘You get a lot more for your money.’”
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Original Source: thehousingbubbleblog.com
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5 May, 2008| housingblogs |
Comments (0) @ 23:49
- Baffled in Burbank: 43% off foreclosured house
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AK writes, via e-mail, that this one is baffling. Here’s the Redfin listing, here’s the short history of 1248 East Elmwood Avenue, now in foreclosure:
Date sold Price
May 1989: $350,000Dec. 1997: $250,000Mar. 1999: $364,000June 2000: $445,000June 2002: $444,443Mar. 2003: $640,000A…
Original Source
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5 May, 2008| housingblogs |
Comments (0) @ 23:34
- Property tax cuts coming for 89,000 L.A. homeowners
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I have good news for 89,000 L.A. homeowners today: You’re getting a property tax reduction.
Now I have bad news: The value of your house has declined by, on average, $68,000.
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Original Source
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5 May, 2008| housingblogs |
Comments (0) @ 22:53
- Has it ever been a bad time to buy?
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According to the National Association of Realtors, the answer is no, it has always been a good time to buy…
…even during the darkest depths of the Great Depression. Unemployment was nearing 16% and approximately 5 million Americans were unemployed. Banks were in turmoil, with roughly 2,000 banks failing in 1931, including the New York Bank of the United States (the largest bank failure in the history of the nation at the time). You might think that in the midst of the worst economic downturn the world had ever seen the Realtors might would show some restraint.
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Original Source: njrereport.com
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5 May, 2008| housingblogs |
Comments (0) @ 22:20
- Mastic/Shirley sewer study
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Suffolk County will conduct a feasibility study on bringing sewers to the Shirley/Mastic business area.
Last Tuesday the county legislature authorized the county’s Department of Public Works to conduct the study of infrastructure and the size of a sewage treatment facility that would be needed to serve the area, as well as the cost to the county, residents and businesses served by the plant.
Legis. Kate Browning had earlier sponsored a measure to lay pipes in the Mastic business district when the county reconstructs Montauk Highway next year. Browning and other sewer proponents were hoping that these pipes could be hooked up to a proposed treatment plant further south along William Floyd Parkway.
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Original Source: spacedoutli.wordpress.com
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5 May, 2008| housingblogs |
Comments (0) @ 21:56
- Shooting stops in Hauppauge
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Cousins Paintball has sold its 40,000 square-foot building in Hauppauge to something called the National Tournament Athletic Center for an undisclosed amount.
The building at 114 Parkway Drive South is column-free with very high ceilings, which was a prerequisite for the indoor athletic center, according to Tom Attivissimo, of Greiner Maltz in Plainview, who represented Cousins in the transaction.
The $5 million renovation of the former paint ball arena will take most of the summer and owners expect to open the athletic center this fall.
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Original Source: spacedoutli.wordpress.com
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5 May, 2008| housingblogs |
Comments (0) @ 21:55
- Casino Operator Tropicana to file BK
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From the WSJ: Casino Operator Tropicana To File for Bankruptcy Protection Struggling casino operator Tropicana Entertainment LLC is expected to file for bankruptcy protection as soon as today … It would be the largest corporate bankruptcy of the year, and the latest blow to Las Vegas, which has seen gambling revenues decline and major building projects canceled or delayed in the last few months…..
Original Source: feeds.feedburner.com/CalculatedRisk
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5 May, 2008| housingblogs |
Comments (0) @ 21:31
- NWMLS Stats: Still Looking for the Bottom
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It’s time for NWMLS statistics. April is now in the books, traditionally one of the strongest months for home sales. When the press release with pdf links is released I’ll post it here. Here is your summary along with the usual graphs and other updates.
Here’s your King County SFH summary:
April 2008
Active Listings: up 49% YOY
Pending Sales: d…
Original Source: feeds.feedburner.com/SeattleBubble
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5 May, 2008| housingblogs |
Comments (0) @ 20:45
- Countrywide: Could It Just Go Under And Go Away?
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Posted By:Diana OlickAnalysts this morning began raising some red flags over the Bank of America/Countrywide deal, citing deterioration in the mortgage market that could lead BofA to walk away, or at the very least lower its asking price. …
Original Source: www.cnbc.com
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5 May, 2008| housingblogs |
Comments (0) @ 20:40
- Fed: Lending Standards Tighten, Loan Demand Declines
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From the Fed: The April 2008 Senior Loan Officer Opinion Survey on Bank Lending Practices In the April survey, domestic and foreign institutions reported having further tightened their lending standards and terms on a broad range of loan categories over the previous three months. The net fractions of domestic banks reporting tighter lending standards were close to, or above, historical highs for nearly all loan categories in the survey. …
Original Source: feeds.feedburner.com/CalculatedRisk
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5 May, 2008| housingblogs |
Comments (0) @ 20:37
- How to Lose $500,000 in a Year
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Ship of Fools — Robert Plant
Today we are breaking with our tradition of profiling a $250,000 loss, and we are going big time — $500,000 lost on one property. This flip is sunk. These flippers are so far underwater, they are not on a ship of fools; they are on a submarine….
Original Source: www.irvinehousingblog.com
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5 May, 2008| housingblogs |
Comments (0) @ 20:30
- Banks tightening mortgage standards
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Read full story for latest details.
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Original Source: money.cnn.com
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5 May, 2008| housingblogs |
Comments (0) @ 19:37
- We Went Too Far And Too Wide
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Some housing bubble news from Wall Street and Washington. Dow Jones, “When it released its preliminary second-quarter operating results early Monday, Hovnanian Enterprises Inc., one of the nation’s biggest builders, detailed more pain to come. The much-watched cancellation rate improved slightly - to 29% of gross contracts, from 32%. Hovnanian’s home deliveries fell 21% year over year, and officials estimated the company would take between $225 million to $275 million of land-related pretax charges, a jump from the first quarter’s $94 million.”
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Original Source: thehousingbubbleblog.com
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5 May, 2008| housingblogs |
Comments (0) @ 19:35
- House probes jumbo loans
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Read full story for latest details.
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Original Source: money.cnn.com
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5 May, 2008| housingblogs |
Comments (0) @ 19:03
- Pierce County Home Builders Feeling the Pinch
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Yesterday’s Tacoma News Tribune had an article about new construction in outlying areas, which is becoming front line of the Puget Sound housing bust. In short: it ain’t pretty for builders.
Facing fewer buyers and many, many homes for sale, South Sound builders are pulling back and getting extra promotional.
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Original Source: feeds.feedburner.com/SeattleBubble
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5 May, 2008| housingblogs |
Comments (0) @ 18:32
- Non-Residential Investment: Key Components
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If the imminent slowdown in non-residential structure investment is similar to the percentage declines during the ‘90/’91 and ‘01 recessions, then non-residential investment could decline as much as 15% to 20% over the next four quarters, from the $501 billion seasonally adjusted annual rate (SAAR) in Q4 2007, to about $400 billion to $425 billion in Q4 2008. (see: C…
Original Source
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5 May, 2008| housingblogs |
Comments (0) @ 17:38
- ResCap: May not Meet Debt Obligations
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From Bloomberg: ResCap Says It May Not Be Able to Meet Debt Obligations in June Residential Capital LLC, the mortgage- finance company owned by GMAC LLC, said it will still need to come up with $600 million by the end of June to meet its debt requirements even if its bond exchange offer is successful. … “There is a significant risk that we will not be able to meet our debt service obligations, be unable to meet certain financial covenants in our credit facilities, and be in a negative liquidity position in June 2008,’ ResCap said in a filing to the Securities and Exchange Commission today.
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Original Source: feeds.feedburner.com/CalculatedRisk
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5 May, 2008| housingblogs |
Comments (0) @ 16:32
- Analyst to B of A: Walk away from Countrywide
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It’s all about walking away these days, isn’t it? Homeowners are walking away from their mortgages, Microsoft walked away from Yahoo, and now an analyst is encouraging Bank of America to walk away from its deal to buy Countrywide Financial….
Original Source
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5 May, 2008| housingblogs |
Comments (0) @ 15:54
