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- L.A. home prices down 19.4%, back to March ‘05 levels
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More on today’s DataQuick report on April home sales in Southern California: Median sales prices in Los Angeles have fallen 20.9% from peak levels, 19.4% over the past year, and have now rolled back to March 2005 levels, according to DataQuick’s analysis.
The level of 12-month trailing sales in the L.A. market (the column at right below) continues to plummet, and is now running 40% below year-ago levels. Trailing 12-month sales provided a good overview of market activity;
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Original Source
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19 May, 2008| housingblogs |
Comments (0) @ 18:32
- DataQuick on SoCal: Sales "Surge" in March, Off 19% from last year
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From DataQuick: (via LA Land) Southern California home sales surged last month to the highest level since August as bargain shoppers took advantage of price slashing. Although some higher-end costal markets also posted gains, the swell in transactions mainly reflects more sales of homes under $500,000 in inland areas where depreciation and foreclosures have been greatest, a real estate information service reported….
Original Source: feeds.feedburner.com/CalculatedRisk
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19 May, 2008| housingblogs |
Comments (0) @ 18:19
- Seattle Bubble Fundraising Drive
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As you may or may not know, Seattle Bubble is one of a handful of projects that now make up my full-time job. Since dedicating a larger amount of time to improve and expand Seattle Bubble, I have been able to greatly improve the aesthetics, add useful widgets like “recent forum posts” on the sidebar, and create more in-depth and interesting posts.
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Original Source: seattlebubble.com
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19 May, 2008| housingblogs |
Comments (0) @ 17:53
- Maguire directors oust founder
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Read full story for latest details.
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Original Source: money.cnn.com
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19 May, 2008| housingblogs |
Comments (0) @ 17:36
- A bounce in April sales in SoCal; Weakness in L.A.
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Breaking News: DataQuick reports a big bounce in April home sales in Southern California, with sales surging 21.9% from March levels to the highest level of sales since last August. DataQuick attributed the increase to "more sales of homes under $500,000 in inland areas where depreciation and foreclosures have been greatest." Los Angeles County reported the weakest sales numbers for the Southern California region, showing a 30.6% decline from year-ago levels and a $5,000 drop in median prices paid.&…
Original Source: feeds.latimes.com
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19 May, 2008| housingblogs |
Comments (0) @ 17:34
- UK house prices crash 19.2 percent
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One of my readers - simon - asked a brilliant question. “How much have house prices already fallen in Euro terms?” He correctly pointed out that since last summer, Sterling has crashed against the euro….
Original Source: bp1.blogger.com
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19 May, 2008| housingblogs |
Comments (0) @ 17:29
- Fannie’s New Down Payment Policy: Hoping Promise Comes True
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Posted By:Diana OlickThe whole deal is part of Fannie’s “Keys to Recovery” initiative, which is trying to promote “not just home-buying,” but home-owning. In other words, it’s going to help borrowers trying to refi out of troubled loans …
Original Source: www.cnbc.com
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19 May, 2008| housingblogs |
Comments (0) @ 17:25
- Moody’s: CRE Prices Fall 2.3% in March
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From Reuters: US Commercial property price fall most since 2000 -Moody’s Moody’s said prices of retail properties have dropped 5.7 percent from their peak in 2007, compared with declines of 3.4 percent for apartment buildings and 2.3 percent for industrial real estate, respectively. Office property prices are down 2 percent from their peak, according to quarterly data….
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19 May, 2008| housingblogs |
Comments (0) @ 17:16
- Latest home prices - first quarter
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Single-family home prices dropped 7.7% in the first quarter in the largest year-over-year decline since the National Association of Realtors began reporting prices in 1982.
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Original Source: money.cnn.com
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19 May, 2008| housingblogs |
Comments (0) @ 17:09
- You Are More In Debt Than You Think
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So you don’t use credit cards, own your house free and clear and the car is paid off? You might be thinking you don’t have much in the way of debt. If Sheila Weinberg, chief executive for the Institute for Truth in Accounting is right, you are on the hook for more- a lot more:
The federal government’s long-term financial obligations grew by $2.5 trillion last year, a reflection of the mushrooming cost of Medicare and Social Security benefits as more baby boomers reach retirement….
Original Source: housingdoom.com
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19 May, 2008| housingblogs |
Comments (0) @ 16:21
- FHA Rolls Out Risk-Based Premiums
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Ken Harney reports in the LAT: The FHA, which for decades has used a one-size-fits-all approach to pricing its insurance on home loans, plans to shift to a “risk-based” system keyed to FICO scores and down payments, beginning as early as mid-July. Private-sector lenders and insurers have priced interest rates and premiums using sliding scales of FICO scores and down-payment amounts since the mid-1990s….
Original Source: feeds.feedburner.com/CalculatedRisk
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19 May, 2008| housingblogs |
Comments (0) @ 15:28
- Lowe’s same-store sales expected to fall 6% to 7%
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From the WSJ: Lowe’s Posts 18% Fall in Net, Lowers Earnings Outlook Lowe’s Cos. reported an 18% drop in fiscal first-quarter net income and lowered its outlook for the year …Looking forward, the … company lowered its guidance … with same-store sales expected to fall 6% to 7%.Chairman and Chief Executive Robert A. Niblock said consumer confidence slipped during the latest quarter and discretionary home purchases were called back, reflecting “the generally poor economic outlook” due to housing pressures, rising food and fuel prices and “a more negative employment picture.” …
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19 May, 2008| housingblogs |
Comments (0) @ 14:53
- Lowe’s Struggles
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Original Source: www.mortgagenewsdaily.com
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19 May, 2008| housingblogs |
Comments (0) @ 14:02
- Wave of Writedowns
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Original Source: www.mortgagenewsdaily.com
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19 May, 2008| housingblogs |
Comments (0) @ 12:47
- State of Financial Services
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Original Source: www.mortgagenewsdaily.com
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19 May, 2008| housingblogs |
Comments (0) @ 12:33
- BCE Buyout - The Drumbeat Begins
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Original Source: www.mortgagenewsdaily.com
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19 May, 2008| housingblogs |
Comments (0) @ 12:33
- Angry Renters
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Original Source: www.mortgagenewsdaily.com
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19 May, 2008| housingblogs |
Comments (0) @ 12:33
- REO re-enters the public lexicon
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From the Record:
Houses owned by banks may be bargains
Vincent and Kerri Bagnaturo had been looking to trade up to a bigger place in Ridgewood for almost two years when they came upon the house they felt was the right fit for them.
It was a spacious 4-bedroom, 3-bath house with a large family room, on a 200-foot deep property in the sought-after Willard School neighborhood.
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Original Source: njrereport.com
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19 May, 2008| housingblogs |
Comments (0) @ 10:56
- “Electric bills have shot through the roof”
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From the Star Ledger:
Electricity prices are a turnoff for many
With the economy in a tailspin, more people are finding they must choose among necessities. For many, that means going without electricity.
The number of utility shutoffs in New Jersey due to lack of payment rose by 15 percent last year, jumping to 175,581 from 143,300 in 2006, according to the state Board of Public Utilities. An additional 20,316 households had gas service terminated in 2007, about the same number as the year before.
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Original Source: njrereport.com
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19 May, 2008| housingblogs |
Comments (0) @ 10:47
- Fear Mongering With a Smile
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The final April sales data from DataQuick has been late on arrival. However, we are anticipating an uptick in sales. REALTORS® everywhere are already out there “bottom-calling” based on these anticipated results. In fact, this Sunday’s Union Tribune real estate advertisement write up by Prudential’s CEO Mr. Rodgers was actually titled, …
Original Source
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19 May, 2008| housingblogs |
Comments (0) @ 10:40
