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- The Last Post - REVISED
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Due to personal matters, as well as the lack of interest and participation by new york city metro residents, after a year and a half of steady dedication in providing this resource on a volunteer basis, unfortunately for the loyal readers, this blog has found its last day. I can no longer dedicate the time and effort necessary. I hope that you’ve all gained good knowledge and developed your own home prospecting strategy for the turbulent economic times ahead for us all. Best of luck and happy lowballing. -…
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9 May, 2008| housingblogs |
Comments (0) @ 23:26
- Bank Failure: ANB Financial Costs FDIC $214 million
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Did someone say “bank failure” this morning?From the FDIC: Bank Closing Information for ANB Financial, NA, Bentonville, AR ANB Financial, National Association, Bentonville, Arkansas, was closed today by the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. To protect depositors, the FDIC’s Board of Directors approved the assumption of the insured deposits of ANB Financial by Pulaski Bank and Trust Company, Little Rock, Arkansas….
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9 May, 2008| housingblogs |
Comments (0) @ 23:19
- April Housing Starts
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CMHC’s release of April housing starts for Vancouver Island can be found here. Rising housing inventory shows no sign of slowing down….
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9 May, 2008| housingblogs |
Comments (0) @ 22:59
- FedEx Lowers Earnings Guidance
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From FedEx: FedEx Corp. today announced that earnings for the fourth quarter ending May 31, 2008 are expected to be in the range of $1.45 to $1.50 per diluted share, compared to the previous forecast of $1.60 to $1.80.“Since we provided earnings guidance for the fourth quarter in March when the crude oil price was slightly above $100 per barrel, our estimated fuel costs for the quarter have increased more than 7 percent, or $100 million from our previous estimate, and the weak economy has restrained demand for U.S. domestic express package and LTL freight services,” said Alan B. Graf, Jr., FedEx Corp. executive vice president and chief financial officer. “While we have dynamic fuel surcharges in place, they cannot keep pace in the short-term with rapidly rising fuel prices. This revised outlook assumes no additional increases to the current fuel price environment and no further weakening of the economy.” …
Original Source: feeds.feedburner.com/CalculatedRisk
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9 May, 2008| housingblogs |
Comments (0) @ 21:13
- Taos Real Estate - Investment Calculation Tools
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The Taos real estate market is unique in many ways. Though it has characteristics in common with other vacation home and resort communities, we definitely have some traits that are truly Taos.
As the Real Estate Business Guide writer for the New York Times website at About.com, I write for the industry, including real estate and mortgage professionals and investors worldwide. For that site I wrote a series of i…
Original Source: galleryrealtyoftaos.com
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9 May, 2008| housingblogs |
Comments (0) @ 20:49
- The other foreclosure bailout bill, and why it’s a bad idea
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The Barney Frank mortgage rescue bill got all the big headlines today, but the House also passed a more straightforward bailout bill: R…
Original Source: latimesblogs.latimes.com
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9 May, 2008| housingblogs |
Comments (0) @ 20:32
- FSBO - For Sale By Optimist
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Don’t Dream It’s Over — Crowded House
You don’t need a realtor to sell a house. A title company can take care of most paperwork, and an attorney can draft the rest for a minimal fee. Realtors are supposed to be experts at sales and marketing, but if you possess these skills, there is no need to pay someone 6% to draft a poorly written property description and sit in your house on the weekends. You can do it yourself and save a great deal of money. There are advantages of to selling on your own. You don’t have to base your asking price on comparable properties. You can make up a number and put the property for sale for whatever price you want. There is no neutral market observer to tell you your price might be too high. Who needs to pay attention to comps? Also, you don’t have to worry about the time and money your realtor is going to spend marketing your home because you will pay all those expenses yourself….
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9 May, 2008| housingblogs |
Comments (0) @ 20:30
- Green Building: Are the Big Builders On Board?
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Posted By:Diana OlickI get a press release probably once a week from the National Association of Home Builders on some or another green improvement, initiative, product or conference. So I was surprised by a study that claims none of America’s 13 largest publicly traded home builders has “fully embraced” the green market… …
Original Source: media.cnbc.com
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9 May, 2008| housingblogs |
Comments (0) @ 20:23
- I don’t think you all understand how bad this is gonna get. Got train? Got bus? Got a high-MPG car?
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And god forbid you got Maricopa Arizona, Naperville Illinois or any f…
Original Source: bp3.blogger.com
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9 May, 2008| housingblogs |
Comments (0) @ 19:54
- Citi Starts the Death March of Stated Loans in Earnest
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Citi released some guideline changes in the wholesale changes that can be described easily as the first big step towards killing stated income loans. I’m not sure if these are reflected on the retail side as well. The big changes? 75% max loan-to-value on rate and term refinances with a minimum FICO score of 720. That guideline change essentially narrows the universe of qualified borrowers to a thin sliver of the home-owning population these days.
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Original Source: feeds.feedburner.com/typepad
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9 May, 2008| housingblogs |
Comments (0) @ 19:50
- What A Stuck Housing Market Looks Like
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It’s Friday desk clearing time for this blogger, “The most severe real estate recession in decades appears far from over, with the pace of foreclosures rising, the fall in home prices accelerating and the pain spreading to nearly every major U.S. city, according to two reports. Gary Sweredoski, a Realtor in Myrtle Beach, S.C., is behind on his own mortgage and facing possible foreclosure. He’s also sought bankruptcy protection.”
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Original Source: thehousingbubbleblog.com
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9 May, 2008| housingblogs |
Comments (0) @ 19:25
- Economist.com on Rents and House Prices
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The Economist has a great overview on housing: Map of misery. There is a good discussion on the differences between the OFHEO index (used by Fed Chairman Bernanke) and the Case-Shiller Home Price indices. The story also discusses the huge overhang of inventory (see story for discussion).At the bottom of the story (hat tip Eyal) is this graph of rents as % of house prices: …
Original Source: feeds.feedburner.com/CalculatedRisk
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9 May, 2008| housingblogs |
Comments (0) @ 18:53
- Real Homes of Genius: Biggest Ever Percentage Housing Drop Ever in Santa Ana! 68 Percent Drop in 1 Year. The Journey of One Home in an Epic Housing Bubble.
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Orange County, an area with over 3,098,121 people sometimes has a reputation at least nationwide as being an exclusively prime area. What most people that don’t live or work here realize is that the media perception of the “OC” is guided by a few prime cities such as Laguna Hills and Newport Beach. These tiny cities hold a very small percentage of the overall county population. The largest city Santa Ana, has 353,428 people making up for over 11 percent of the entire county. Let us take a look at the county and run some quick numbers:
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Original Source: feeds.feedburner.com/DrHousingBubble-HowILearnedToLoveSocal
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9 May, 2008| housingblogs |
Comments (0) @ 17:53
- Arizona’s in Recession- But We Knew That
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Moody’s is saying what we’ve been saying for awhile- Arizona is in a recession: [Thanks L!]
The Phoenix and Tucson metropolitan areas, as well as the state of Arizona, are in a recession, economists at Moody’s Economy.com have declared.
The company first concluded several weeks ago that Arizona was in a recession and, in a separate report released Thursday, said that metro Phoenix is "firmly" in one….
Original Source: housingdoom.com
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9 May, 2008| housingblogs |
Comments (0) @ 17:44
- March Trade Deficit
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The Census Bureau reported a goods and services deficit of $58.2 billion for March 2008. Exports, in March, decreased $2.6 billion to $148.5 billion, but are up almost 16% year-over-year. Imports decreased by over $6 billion to $206.7 billion, and excluding petroleum, are up only 4% year-over-year.So ignoring monthly fluctuations, the story remains the same: exports are surging and imports (ex-petroleum) have slowed. A few years ago the story was how the ports could i…
Original Source: feeds.feedburner.com/CalculatedRisk
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9 May, 2008| housingblogs |
Comments (0) @ 16:30
- New Program Guidelines - Friday HAHA
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Thanks to reader Bill for this great little Friday fun. If you’re in the industry, check out the new program guidelines matrix (PDF) and have a laugh on us this Friday.
– Morgan
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Original Source: feeds.feedburner.com/typepad
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9 May, 2008| housingblogs |
Comments (0) @ 16:19
- Oregon Real Estate Propaganda
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Do you love Oregon? Then buy it. Portland’s local real estate industry has banned together to present a united front in their mission to prove Oregon is different….
Original Source: bp2.blogger.com/_oV8ecn5wrfg/SCPZ8uarhs
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9 May, 2008| housingblogs |
Comments (0) @ 15:18
- Scant Comfort To Anyone Struggling To Sell
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The St Petersburg Times reports from Florida. “Hold on to that house. Lawrence Yun, chief economist with the National Association of Realtors, says it will be worth at least 20 percent more. But you’ll have to wait until 2013. In a presentation Wednesday to the Greater Tampa Association of Realtors, Yun predicted the Tampa Bay area housing market will revive by next year and resume appreciating at a modest pace.”
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Original Source: thehousingbubbleblog.com
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9 May, 2008| housingblogs |
Comments (0) @ 14:59
- 10 homes for sale in hot markets
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Original Source: money.cnn.com
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9 May, 2008| housingblogs |
Comments (0) @ 14:56
- Fremont General may file BK
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From Reuters: Fremont General says may file for bankruptcy Fremont General … on Friday said it may file for bankruptcy protection.The company … said that absent another “viable transaction” for remaining assets, it expects to file for Chapter 11 protection from creditors.Fremont was the recipient of an ugly C…
Original Source: feeds.feedburner.com/CalculatedRisk
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9 May, 2008| housingblogs |
Comments (0) @ 14:37