Why 2011 May Be the End of the Housing Crash - Housing is the most affordable it has been in decades, according to analysts at Moody's Analytics. They don't just look at house prices. They also look at incomes. Nationally, the cost of a house is the equivalent of about 19 months of total pay for an average family, the lowest level in 35 years. Prices usually average close to two years' pay, although that varies nationally. "Housing prices will probably bottom in 2011," says Scott Simon, a managing director at money-management firm Pimco in Newport Beach, Calif. He foresaw the housing crash, helping his firm dodge losses that plagued Wall Street. Read article:
http://online.wsj.com/article/SB10001424052748703796504576168822497423738.html?KEYWORDS=housing+recovery
Monday, February 28, 2011
Thursday, February 24, 2011
todays new brew
more good news
Existing-Home Sales Up Again in January - The uptrend in existing-home sales continues, with January sales rising for the third consecutive month with a pace that is now above levels a year ago, according to the NATIONAL ASSOCIATION OF REALTORS®. Existing-home sales increased 2.7% in January from the previous month to a seasonally adjusted annual rate of 5.36 million, and are 5.3% above January 2010's total. This is the first time in seven months that sales activity was higher than a year earlier. Read article:
http://www.realtor.org/rmodaily.nsf/pages/News2011022301
Existing-Home Sales Up Again in January - The uptrend in existing-home sales continues, with January sales rising for the third consecutive month with a pace that is now above levels a year ago, according to the NATIONAL ASSOCIATION OF REALTORS®. Existing-home sales increased 2.7% in January from the previous month to a seasonally adjusted annual rate of 5.36 million, and are 5.3% above January 2010's total. This is the first time in seven months that sales activity was higher than a year earlier. Read article:
http://www.realtor.org/rmodaily.nsf/pages/News2011022301
Wednesday, February 23, 2011
new brew
things are looking up YAY
Is Luxury Making a Comeback? - "Personal embracement of luxury is now back to (pre-recession) 2007 levels," marketing specialist Jim Taylor, author of “Selling to the New Elite,” told USA Today. "We're seeing that in cars, private jet usage and finally, in high-end real estate. There's a real change in the way people feel about money. They're making purchases they put off during the recession." Read article:
http://www.realtor.org/rmodaily.nsf/pages/News2011022204
Metro Phoenix top home sales of the past week
http://www.azcentral.com/business/realestate/articles/2011/02/23/20110223phoenix-area-home-sales.html
Scottsdale condo prices increase in January
http://www.azcentral.com/business/realestate/articles/2011/02/22/20110222scottsdale-condo-prices-increase-january.html
Have an awesome day
Is Luxury Making a Comeback? - "Personal embracement of luxury is now back to (pre-recession) 2007 levels," marketing specialist Jim Taylor, author of “Selling to the New Elite,” told USA Today. "We're seeing that in cars, private jet usage and finally, in high-end real estate. There's a real change in the way people feel about money. They're making purchases they put off during the recession." Read article:
http://www.realtor.org/rmodaily.nsf/pages/News2011022204
Metro Phoenix top home sales of the past week
http://www.azcentral.com/business/realestate/articles/2011/02/23/20110223phoenix-area-home-sales.html
Scottsdale condo prices increase in January
http://www.azcentral.com/business/realestate/articles/2011/02/22/20110222scottsdale-condo-prices-increase-january.html
Have an awesome day
Tuesday, February 22, 2011
whats brewing this week?
Hello,
check this out
Consumer confidence highest in 3 years
http://www.azcentral.com/business/consumer/articles/2011/02/22/20110222biz-consumerconfidence0222.html
Phoenix retail market turning the corner
http://www.bizjournals.com/phoenix/news/2011/02/21/phoenix-retail-market-turning-the-corner.html
Until next time
Patty
check this out
Consumer confidence highest in 3 years
http://www.azcentral.com/business/consumer/articles/2011/02/22/20110222biz-consumerconfidence0222.html
Phoenix retail market turning the corner
http://www.bizjournals.com/phoenix/news/2011/02/21/phoenix-retail-market-turning-the-corner.html
Until next time
Patty
Tuesday, February 15, 2011
Hello,
Things are looking up in the northwest valley: read on
Peoria, Buckeye adult communities rank high in sales - Two West Valley communities - Trilogy at Vistancia in northern Peoria and Sun City Festival in Buckeye - led in sales and closings among active adult communities in 2010. Trilogy at Vistancia's 137 sales in 2010 leads the pack among the 10 active adult communities under construction in Arizona. Sun City Festival closed on the most sales: 119 closings compared with 118 at the Vistancia's 55-and-older community. Read article:
http://www.azcentral.com/business/realestate/articles/2011/02/14/20110214peoria-trilogy-vistancia-sun-city-festival-buckeye-high-sales.html
Things are looking up in the northwest valley: read on
Peoria, Buckeye adult communities rank high in sales - Two West Valley communities - Trilogy at Vistancia in northern Peoria and Sun City Festival in Buckeye - led in sales and closings among active adult communities in 2010. Trilogy at Vistancia's 137 sales in 2010 leads the pack among the 10 active adult communities under construction in Arizona. Sun City Festival closed on the most sales: 119 closings compared with 118 at the Vistancia's 55-and-older community. Read article:
http://www.azcentral.com/business/realestate/articles/2011/02/14/20110214peoria-trilogy-vistancia-sun-city-festival-buckeye-high-sales.html
Monday, January 17, 2011
new stuff brewing
Hello,
Hope emerges for Phoenix office market - The Phoenix office market remained lackluster in the fourth quarter of 2010 but there are a few glimmers of hope. That’s the assessment of the Metro Phoenix Office Market Report published by Lee & Associates in Phoenix. Absorption rates — the amount of new space leased compared with a previous period — have improved slightly in some submarkets and may improve modestly this year. One bright spot, according to the report, is that investors are buying office properties, given lower prices and in anticipation of the eventual market turnaround. Read article:
http://www.bizjournals.com/phoenix/news/2011/01/13/hope-emerges-for-phoenix-office-market.html
More Borrowers Face Expiring Lock-in Rates - With rates on the rise, lenders have reported an increase in lock-in agreements in recent weeks. However, in 2010, the average mortgage took 52.1 days to close. While most rate locks last from 30 to 60 days, more and more borrowers are finding their lock-in agreements are expiring before they’ve been able to make it to the closing table. While most mortgage brokers do not charge money to extend a lock-in agreement, some borrowers who deal directly with lenders may have to pay anywhere from 0.10 to 0.25 for a percentage point of the loan amount for a 15-week extension.
http://www.realtor.org/rmodaily.nsf/pages/News2011011304
Have a successful year
Patty
Hope emerges for Phoenix office market - The Phoenix office market remained lackluster in the fourth quarter of 2010 but there are a few glimmers of hope. That’s the assessment of the Metro Phoenix Office Market Report published by Lee & Associates in Phoenix. Absorption rates — the amount of new space leased compared with a previous period — have improved slightly in some submarkets and may improve modestly this year. One bright spot, according to the report, is that investors are buying office properties, given lower prices and in anticipation of the eventual market turnaround. Read article:
http://www.bizjournals.com/phoenix/news/2011/01/13/hope-emerges-for-phoenix-office-market.html
More Borrowers Face Expiring Lock-in Rates - With rates on the rise, lenders have reported an increase in lock-in agreements in recent weeks. However, in 2010, the average mortgage took 52.1 days to close. While most rate locks last from 30 to 60 days, more and more borrowers are finding their lock-in agreements are expiring before they’ve been able to make it to the closing table. While most mortgage brokers do not charge money to extend a lock-in agreement, some borrowers who deal directly with lenders may have to pay anywhere from 0.10 to 0.25 for a percentage point of the loan amount for a 15-week extension.
http://www.realtor.org/rmodaily.nsf/pages/News2011011304
Have a successful year
Patty
Whats brewing in 2011
Check these out:
Housing Starts Expected to Climb in 2011
http://www.realtor.org/rmodaily.nsf/pages/News2011011301
10 Successful Rules of New Homes Sales
http://www.realtor.org/rmodaily.nsf/pages/News2011011302
Mortgage Rates Down for Second Week
http://realtytimes.com/rtpages/20110114_rates.htm
Housing Starts Expected to Climb in 2011
http://www.realtor.org/rmodaily.nsf/pages/News2011011301
10 Successful Rules of New Homes Sales
http://www.realtor.org/rmodaily.nsf/pages/News2011011302
Mortgage Rates Down for Second Week
http://realtytimes.com/rtpages/20110114_rates.htm
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