Sunday, April 01, 2007
Thursday, October 05, 2006
N.J. housing is priciest Median costs highest in nation
After a six-year run-up in housing prices, many households in New Jersey are staggering under heavy monthly shelter costs, the U.S. Census Bureau reported today. Among mortgage holders, New Jerseyans in 2005 paid the highest median housing costs in the nation $1,938 a month, including mortgage payments, property taxes, home insurance, condo fees and utilities.
Legal sites of note:
Los Angeles attorneys
San Francisco lawyers
Riverside lawyers
Best California real estate blog
Legal sites of note:
Los Angeles attorneys
San Francisco lawyers
Riverside lawyers
Best California real estate blog
Thursday, September 21, 2006
BUILDER CONFIDENCE DECLINES TO LOWEST LEVEL SINCE FEBRUARY 1991
The confidence level of the nation's home builders declined for the eighth consecutive month in September, a reflection of increased sales cancellations and rising inventories of unsold homes, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The seasonally adjusted HMI stands at 30 this month, down three points from August and down 35 points from a year ago. In the West, the HMI has steadily declined since April and now stands at 38. An HMI below 50 indicates more builders view sales conditions as poor versus good. Newer sites: San Diego hotels - San Diego lasik
Monday, September 18, 2006
National Realtors Assoc. - Home Prices to Fall!
September 18, 2006—Housing prices are expected to continue to have a limited fall throughout 2006, according to testimony submitted by the National Association of Realtors at today’s Senate Banking Committee.
New downtown San Diego condominium site is Palermo homes San Diego.
New downtown San Diego condominium site is Palermo homes San Diego.
Thursday, July 27, 2006
Housing Starts Drop 5.3 Percent in June
Housing Starts Drop 5.3 Percent in June
(Washington - July 19, 2006) - Total housing starts dropped 5.3 percent in June to a seasonally adjusted annual rate of 1.850 million units, according to figures released by the Commerce Department today. This was 11.0 percent below the pace of a year ago.
Single-family housing starts were down 6.5 percent for the month to a pace of 1.486 million units, a 13.8 percent drop from the June 2005 pace. Multifamily housing construction was up 0.3 percent for the month to a seasonally adjusted pace of 364,000 units.
'NAHB's surveys of single-family builders have been showing a steady decline in confidence since the middle of last year, and builders are acting accordingly. They are slowing their production as market conditions and demand cool down,' said David Pressly, president of the National Association of Home Builders (NAHB) and a home builder from Statesville, N.C. "
(Washington - July 19, 2006) - Total housing starts dropped 5.3 percent in June to a seasonally adjusted annual rate of 1.850 million units, according to figures released by the Commerce Department today. This was 11.0 percent below the pace of a year ago.
Single-family housing starts were down 6.5 percent for the month to a pace of 1.486 million units, a 13.8 percent drop from the June 2005 pace. Multifamily housing construction was up 0.3 percent for the month to a seasonally adjusted pace of 364,000 units.
'NAHB's surveys of single-family builders have been showing a steady decline in confidence since the middle of last year, and builders are acting accordingly. They are slowing their production as market conditions and demand cool down,' said David Pressly, president of the National Association of Home Builders (NAHB) and a home builder from Statesville, N.C. "
Wednesday, July 26, 2006
Home prices could start falling
USATODAY.com - Home prices could start falling: "Home prices could start falling
By Noelle Knox, USA TODAY
For the first time in more than a decade, home prices could start to fall around the country in coming months, the National Association of Realtors said Tuesday after a report showed that sales of existing homes fell in June and the number of homes for sale soared to their highest point since 1997.
Condo prices are already being hit: They fell 2.1% from June last year to a median $226,900 (median means half cost less and half cost more). Prices of single-family homes edged up 1.1% in June to $231,500. With a 6.8-month supply of single-family homes on the market and an eight-month supply of condos, sellers are under more pressure to cut prices, and buyers can be choosy.
David Lereah, NAR's chief economist, said he expects 'price numbers to start deteriorating,' though he still projects home prices will be up 5.3% for the year. "
By Noelle Knox, USA TODAY
For the first time in more than a decade, home prices could start to fall around the country in coming months, the National Association of Realtors said Tuesday after a report showed that sales of existing homes fell in June and the number of homes for sale soared to their highest point since 1997.
Condo prices are already being hit: They fell 2.1% from June last year to a median $226,900 (median means half cost less and half cost more). Prices of single-family homes edged up 1.1% in June to $231,500. With a 6.8-month supply of single-family homes on the market and an eight-month supply of condos, sellers are under more pressure to cut prices, and buyers can be choosy.
David Lereah, NAR's chief economist, said he expects 'price numbers to start deteriorating,' though he still projects home prices will be up 5.3% for the year. "
Thursday, July 13, 2006
San Diego Home Prices Fall!
For June '06, the median home price in San Diego fell for the first time in nearly a decade and sales tumbled in Los Angeles County, according to just released real estate figures.
The median price of all homes sold in San Diego last month fell 1% from the same month last year to $488,000, according to DataQuick Information Systems.
The importance of this, is that the traditionally strongest real estate marketing time is from May through August. For a price drop to occur now,
can only be a harbinger of a much more pronounced drop as we enter into Fall/Winter.
I'm not selling my San Diego home, but have sold all my investment properties.
If one considers the BILLIONS in adjustable loans due for their first adjustment in 2007/8 combined with the huge percentage of 100%loans used to purchase at the height of our market....you have to worry!
But, than again what is so bad about a 20-30% decline in values if we are coming off 100% increase over the last five years?
I'll answer my own question....nothing so bad as long as you were not speculating, purchased beyond your means or refinanced you property at 90% or more of its high value.
Newer real estate sites: La Jolla real estate -Del Mar real
estate - Poway real estate - Sacramento real estate - San Francisco real estate - Orange County real estate - San Jose real estate - Los Angeles real estate
The median price of all homes sold in San Diego last month fell 1% from the same month last year to $488,000, according to DataQuick Information Systems.
The importance of this, is that the traditionally strongest real estate marketing time is from May through August. For a price drop to occur now,
can only be a harbinger of a much more pronounced drop as we enter into Fall/Winter.
I'm not selling my San Diego home, but have sold all my investment properties.
If one considers the BILLIONS in adjustable loans due for their first adjustment in 2007/8 combined with the huge percentage of 100%loans used to purchase at the height of our market....you have to worry!
But, than again what is so bad about a 20-30% decline in values if we are coming off 100% increase over the last five years?
I'll answer my own question....nothing so bad as long as you were not speculating, purchased beyond your means or refinanced you property at 90% or more of its high value.
Newer real estate sites: La Jolla real estate -Del Mar real
estate - Poway real estate - Sacramento real estate - San Francisco real estate - Orange County real estate - San Jose real estate - Los Angeles real estate
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