Housing Blogs

Last weekend we spent some time camping in Colorado….
Original Source: http://feeds.feedburner.com/TaosRealEstate

From the Financial Times: Real estate sector fears huge increase in CMBS defaults (hat tip Raymond) Defaults on [recent] commercial mortgage-backed securities … will more than quadruple from their current levels under conditions in the US economy expected by the commercial real estate industry, according to a report from Fitch Ratings.
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Borrowers would default on an average of 17.2 per cent…
Original Source: http://feeds.feedburner.com/CalculatedRisk

For those of you long time readers, you will recall my past posts on 220 Bloomsbury Ave Catonsville, MD. 21228 (click here for previous posts). This first house in the House of Pain series has graduated from the continued pain and was sold last month.Below are the details of the sales and listing history…
Original Source: bubblemore.blogspot.com

I think the future holds more licensing requirements in store for real estate professionals. After entering a credit crisis like we are currently experiencing, all professionals connected to the real estate industry may face new licensing or additional requirements.

In an interesting piece w…
Original Source: matrix.millersamuel.com

HousingWire has the story: Freddie Mac Pushes Out Foreclosure Timelines Perhaps the boldest move by Freddie Mac on Thursday — and one that won’t get much press attention — was its decision to eliminate foreclosure timeline compensation altogether for servicers, effective immediately. In other words, servicers will no longer earn a bonus based on how quickly they can foreclose.

If that doesn’t…
Original Source: http://feeds.feedburner.com/CalculatedRisk

Decided to look at the length, width and height of the market in Three Cents Worth, my left side of the brain attempt for clarity on Curbed. This week I am full of luxury.

C…
Original Source: matrix.millersamuel.com

“This is a once-in-a-century type of phenomena… We’re still nowhere near the bottom of home pricing”-Alan Greenspan, Great Housing Ponzi Scheme Creator, July 31, 2008
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Original Source: housingpanic.blogspot.com

From the SF Gate: Governor orders layoffs, steep pay cuts for thousands of state workers (hat tip Hernan) Gov. Arnold Schwarzenegger … today ordered the layoffs of thousands of state workers and steep pay cuts for most other state employees … Cutting the pay of about 200,000 state workers to the federal minium wage of $6.55 an hour would save California as much as $1.2 billion a month, the…
Original Source: http://feeds.feedburner.com/CalculatedRisk

1) Town of Taos Special Council Meeting, Executive Session, this Friday, August 1 – agenda attached.  Item concerns human resource issues.
2) Town of Taos Planning & Zoning Commission meeting, Wednesday, August 6 – agenda attached; last item (in blue) is Walgreen’s proposed development.
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Original Source: http://feeds.feedburner.com/TaosRealEstate

Best mortgage rates for July 31, 2008 in New Mexico…
Original Source: http://feeds.feedburner.com/TaosRealEstate

I can’t quite figure out whether Alan Greenspan is still big news. He’s still capable of headlines, though: "Former Federal Reserve Chairman Alan Greenspan said t…
Original Source: feeds.latimes.com

I can’t quite figure out whether Alan Greenspan is still big news. He’s still capable of headlines, though: "Former Federal Reserve Chairman Alan Greenspan said the US is ‘no where
near the bottom’ of the housing slump a…
Original Source: feeds.latimes.com

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Original Source: housingpanic.blogspot.com

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Original Source: housingpanic.blogspot.com

Waiting on the World to Change — John Mayer
The next big psychological change to impact housing will be a change in homebuyers relationship with debt. Equity can be created in a home in two ways: you can pay down the debt, and the house price can appreciate. During the bubble rally, it was not fashionable to pay down debt. It is a slow way to build equity, and it requires sacrifice. During the bubble, appreciation happened much faster, and it required no additional funds to go toward a housing payment. Under those circumstances, only the most fiscally disciplined and conservative paid down their mortgage (and they are the only ones whose house is not in jeapordy.) As the price decline drags on — which it will for several more years — people will come to realize that equity does not appear magically, but it is only obtained through retiring debt.
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Original Source:

Bloomberg reports on California. “Almost $1.3 trillion of homeowner equity was lost in California since home prices peaked in December 2005, said Mark Zandi, chief economist at Moody’s Economy.com. ‘California is having a wrenching decline in wealth, but this is a cathartic event that will lay the foundation for a recovery,’ said Zandi in an interview. ‘This signals the beginning of the end.’”
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Original Source: thehousingbubbleblog.com

A couple of people forwarded me links to the story of "Princess Chunk," a 44-pound, white cat who has been wandering the streets of New Jersey, a victim of foreclosure.  At first I thought it was some sort of news hoax, the kind of thing you would read in the Onion and forward to friends.
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Original Source: feeds.latimes.com

A couple of people forwarded me links to the story of "Princess Chunk," a 44-pound, white cat who has been wandering the streets of New Jersey, a victim of foreclosure.  At first I thought it was some sort of news hoax, the kind of thing you would read in the Onion and forward to friends.
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Original Source: feeds.latimes.com

Second-quarter revenues for Port Washington-based Cedar Shopping Centers rose 16 percent from a year ago. The company posted revenues of $42.9 million for second-quarter 2008.
Occupancy for the Cedar’s portfolio remained about 96 percent, while total portfolio occupancy, including development and redevelopment properties, remained about 92 percent, according to figures released by the firm.
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Original Source: spacedoutli.wordpress.com

More than 7,500 homes in Bayport, Sayville, and West Sayville will soon receive a comprehensive Watershed Management Plan pamphlet from the Town of Islip.
Islip Town Supervisor Phil Nolan and Councilman Chris Bodkin recently joined with community activists to promote the educational component of the management plan for Green’s Creek and Brown’s River Watershed, which advises residents on what they can do to keep their waterways clean.
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Original Source: spacedoutli.wordpress.com