You can’t sugar-coat last week’s housing reports, but they don’t necessarily foretell a “double-dip” recession in real estate. July Existing Homes Sales were off 27.2%, at an annual rate of 3.83 million, well below the expected 4.65 million rate. The months’ supply went from 8.9 to 12.5 and there was also a rise in inventories. The truth is, the expectation was a bit high. An annual rate below 4 million for July makes sense, given that the home buyer tax credit was slated to end in June.Getting an $8,000 check from the government certainly encouraged lots of people to move up their purchases. For the same reason, experts also predict weak August numbers, but after that, some feel existing home sales will start heading back to about 5.5 million units annually. For the year, inventories are down 2.0%, while the median price is UP 0.7%. Continue reading ‘Real Estate Week in Review, August 30, 2010′
Archive for the 'Real Estate' Category
NEW YORK – Aug. 31, 2010 – The seemingly endless run of bad housing news is discouraging some potential homebuyers from considering a purchase. But the truth is that the advantages of homeownership have very little to do with investment gains, and a lot to do with personal comfort and satisfaction. Continue reading ‘5 reasons homeownership trumps renting’
Sarasota-Bradenton home prices hit a recession low in February 2009. Charlotte County-North Port prices hit their low a month later. But this summer’s price declines, including a double-digit July drop reported Tuesday, have market watchers wondering whether the worst is really over. Continue reading ‘Price swoon reignites regional housing debate’
August 16, 2010 - This Week’s Topics:
Freddie Mac Looking for $1.8B More in Aid
Treasury Announces Who’s On the Guest List
Mortgage Rates Hit New Low Again
“Buy and Bail” Homeowners Get Around Loan Restrictions
New Rule May Ban GSEs from Investing in Mortgages with Transfer Fees
The Ideal Home is Shrinking
6 Key Emotions That Drive Behavior Continue reading ‘Real Estate, Hot Topics; August 16th, 2010′
Last Wednesday the National Association of Realtors reported the median price of existing single-family homes UP for Q2 in two thirds of U.S. metropolitan areas, or100 markets. This compares with only 26 markets with price gains in the same quarter a year ago. Experts say these figures show the federal tax credits helped stabilize home prices in the first half of the year. Nationally, the median price for single-family homes increased to $176,900 in Q2, UP 1.5% from a year ago. Continue reading ‘Real Estate Week in Review, August 16, 2010′
What is the HUBZone Program?
The HUBZone Program stimulates economic development and creates jobs in urban and rural communities by providing Federal contracting preferences to small businesses. These preferences go to small businesses that obtain HUBZone certification in part by employing staff who live in a HUBZone. The company must also maintain a “principal office” in one of these specially designated areas. Continue reading ‘SBA HUBZone Program’
Tuesday we had Pending Homes Sales, which after dropping 30% in May, fell just 2.6% in June, with the push to qualify for the tax credit no longer a factor. These figures indicate there should be a drop in Existing Home Sales come July and maybe again in August. But some analysts feel that after this post-tax-credit dip, housing will come back solidly, just like auto sales did after “cash for clunkers” expired last year. Continue reading ‘Real Estate Week in Review, August 9, 2010′
ORLANDO, Fla. – Aug. 4, 2010 – The tax credit expired, but it’s still a great time to buy a home thanks to low mortgage rates and motivated sellers. Here are five reasons why now is a great time to buy:
1. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today’s record-low rates, they start building equity as soon as they close. That means they can absorb a few ups and downs as the still-recovering housing market gains traction. Continue reading ‘Five reasons to buy a home now’
OVERVIEW ~ July 12 through 16 ~ The optimism that pushed the Dow Jones Industrial Average (DJIA) higher through Thursday, July 15, lost whatever power it had by Friday, July 16, when it fell more than 266 points to 10097.90. Continue reading ‘Real Estate Week in Review, July 12′
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