ALMOST GOOD NEWS?

The Cheif Economist for the Conference Board offers a glimmer of hope in this Realty Times articel:

AN OPTIMIST AMONG THE MEDIA?

I for one certainly hope she is right. I must confess, it't beginning to get on my nerves!

And for those facing the potential of the foreclosure process, please, please, get in touch with your lender and/or some of the organizations in earlier blogs on here. Do not, under any circumstances, allow yourself to get caught up in the "helper scams" that individuals are perpertrating on less knowledgeable homeowners. If in doubt, call me!

LATEST REPORT FOR SOUTHEAST VALLEY SALES & INVENTORY

This is the latest 2008 weekly "last 30 day" report for the Southeast Phoenix Valley market.

This data is provided weekly courtesy of First American Title.

Please use the BACK arrow to return to this Blog:

MLS INVENTORY - 02/13- SOUTHEAST VALLEY

Indeed, consistent with the REBAC article just below, in the Southeast Valley, pending sales for the 30 day period ending Dec.12 (1816) to the 30 day period ending Feb. 13 (2234) have increased by 418 homes (23%). This is in the face of many, many, sitting on the side trying to "time the Real Estate market".

We offer this data as a candid, unfiltered, indicator of home listing and sales activity for your East Valley decision making process.

STABLE EXISTING-HOME SALES EXPECTED IN EARLY 2008

An article from REBAC's HOTSHEET suggests that the recent increase in pending sales projects improvements in 2008:


STABLE EXISTING-HOME SALES EXPECTED IN EARLY 2008


Again, let's hope they are right. Sure tired of the "downer" news coming from most new media sources.

HD DVDs versus Blu-ray

For those interested in High Definition, a VHS/Beta type competition has been underway for some time in the DVD market.

HD DVD is one format suggested by Toshiba while Blu-ray is a Sony product. The following annoucement by Wal-Mart courtesy of MSNBC is a real blow to HD-DVD:

Wal-Mart dumps HD DVDs to back Blu-ray

Don't buy either until the dust finally settles.

LENDERS OFFER BROADER MORTGAGE HELP...

Click on the title above. This article from USA Today highlights the several programs available to assist those facing foreclosure. The latest plan will allow seriously overdue homeowners to suspend foreclosures for 30 days while lenders try to work out more affordable loan terms.

As an aside, Phoenix is number 22 on the list of cities with the most foreclosures.

Housing Hangover Leaves Consumers Confused

This article from Realty Times says that 56% of those in foreclosure still don't know there are people that can help out there. Make sure you send this to anyone who you know is in a potential financial burden:

THE WORD IS NOT GETTING OUT!

The news media tend to emphasis the bad and fail to communicate the possible help that is available. Do your friends a favor!

VALENTINES DAY REMINDER

Just in case you may have forgotten, Valentine's Day is February 14.

To give you a little light hearted background on the matter, I offer an advertisement from a Pest Control Company. I am not endorsing the Company, but I'm sure they won't object to my giving them a few extra reads.


Before you open it, 1) Save this Blog on your favorites to get back, and 2) Once there, press the "Unable to view this newsletter?" at the top to completely open it.

VALENTINE'S DAY


A few facts to give you some ideas for your gift giving!

And, HAPPY VALENTINE'S DAY!

SOME GREAT INDUSTRY & VALLEY NEWS

Through the courtesy of First American Title, we bring you a Newsletter of great value.

Today's articles include:

-New Home Sales fell by record amount in 2007
-Number of homeowners who can't afford payments escalates
-Mortgage industry fears foreclosure moratorium
-It's a Renter's Market in the SE Valley
-Permits may fall, but rebound on horizon
-Stimulus plan also sparks housing market
-Lower credit scores mean higher rate for borrowers
-Number of foreclosures soared in 2007
-Economists rate chance of recession as a "coin flip"

THE NEWSLETTER


Some facts of interest in concert with the Newsletter:

FACT: 97% of home owners in the United States are CURRENT on their mortgage!

WOW, listening to the general media, that number would be voted on the opposite side of current.

FACT: 99% of all homeowners are NOT IN FORECLOSURE.

Not as bad as you thought unless you are part of the other %. The Newsletter and this blog offer several suggestions for help!

MORTGAGE MARKET CURE HALF DONE? HELP?

Some recent articles quoted the Chief Excutive Officer of JP Morgan Chase as stating that "there was a housing bubble in the U.S.", it burst and subprime suffered as the first affected. His remarks at a gathering in Switzerland continued, "That will cure itself, and in my opinion it is half done already"

He also commented on the U.S. monetary policy favorably, highlighting that Central banks were doing a great job to mitigate the downturn effects.

An article in Realtor summarizes the help available to all borrowers during the current unrest in the market. The article follows.

HELP TROUBLED BORROWERS

It is an excellent summary and worth the read.

ECONOMIC STUMULUS PACKAGE

The Economic Stimulus Package. What's in it? What's been left out? When do we start cashing our rebate checks?

This article from Realty Times sheds some light on progress:

Washington Report: Economic Stimulus Package for Housing

"One economist in Washington estimates this change alone -- even if it's in place for just 12 months -- could stimulate over a quarter of a million home purchases, plus help thousands of financially-stressed owners facing payment resets on jumbo mortgages to refinance into saner, safer fixed rate alternatives."

I, for one, hope he is correct.