A little speed up of clearing vacant properties will reduce vandalism, neighborhood blight and loosen up some of the funding needed to get through the housing crisis.
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Friday, June 27, 2008
FHA Extends Financing for Immediate Purchase of Foreclosed Homes
From RISMedia Real Estate News, Bush has announced a policy to expedite immediate sale of vacant foreclosed properties.
FHA IMMEDIATE SALE OF FORECLOSED PROPERTIES
A little speed up of clearing vacant properties will reduce vandalism, neighborhood blight and loosen up some of the funding needed to get through the housing crisis.
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.
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A little speed up of clearing vacant properties will reduce vandalism, neighborhood blight and loosen up some of the funding needed to get through the housing crisis.
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Thursday, June 19, 2008
SPECULATION ..... DRIVES OIL MARKET
This insightful article from Petrostrategies.org is definitely worth a read!
Click on the "Oil & Gas Blog" and find the June 8 article with the following title:
Speculation, Not Market Fundamentals Drives Oil Market
Let see if Wall Street can duck this for long!
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Click on the "Oil & Gas Blog" and find the June 8 article with the following title:
Let see if Wall Street can duck this for long!
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Sunday, June 15, 2008
PENDING SALES UP NATIONALLY FOR APRIL
An article from CNNMoney.com:
Pending home sales up 6.3%; prices seen falling:
The number of homes under contract to be sold rose unexpectedly..
"The Pending Home Sales Index from the National Association of Realtors (NAR) rose to 88.2 in April, up 6.3% from March's reading of 83 and the highest level since October. The increase defied the consensus estimate of economists polled by Briefing.com, which forecast pending sales to fall by 1%.
Despite the increase, April's reading remains down 13.1% from the same period last year, and off 29% from the index's peak in April 2005."
We will all remember what 2005 looked like, won't we?
Pending home sales up 6.3%; prices seen falling:
"The Pending Home Sales Index from the National Association of Realtors (NAR) rose to 88.2 in April, up 6.3% from March's reading of 83 and the highest level since October. The increase defied the consensus estimate of economists polled by Briefing.com, which forecast pending sales to fall by 1%.
Despite the increase, April's reading remains down 13.1% from the same period last year, and off 29% from the index's peak in April 2005."
We will all remember what 2005 looked like, won't we?
PHOENIX & EAST VALLEY SALES & LISTINGS
The latest "last 30 day" report for the Southeast Phoenix Valley market provided courtesy of First American Title.
Please use the BACK arrow to return to this Blog after viewing the data:
MLS INVENTORY - 06/04 - SOUTHEAST VALLEY
The number of listings in the SOUTHEAST VALLEY went down by 518 from 1 week ago, new contracts in escrow decreased by 155 but sales were up by 121 (5.3%).
With the ACTIVE listings at 18194 and SALES at 2283, we now have 7.96 months of inventory in the pipeline for the South East Valley.
Positive results for the total Phoenix MLS area showed the listings decreased by 1246 to 52778, and while new contracts in escrow did decrease by 322, sales increased by 296. We now have 9.3 months of inventory in the Phoenix MLS pipeline.
MLS INVENTORY - 06.04 - TOTAL VALLEY
It is my growing impression from recent reports that most of the sales in our current market are Bank Owned and Short Sale properties. These sales are frequently at much lower prices than the prevailing MLS listing resales. Appraisers will take these lower sales into account when valuing your home so don't be counting on selling at higher prices than the comparables including repos and Short Sales if you list your home. That is not good news for those in distress but Short Sales may be a way to avoid foreclosure. Not easy, but better that a 3 to 4 year delay in your ability to buy another home in the future.
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Please use the BACK arrow to return to this Blog after viewing the data:
The number of listings in the SOUTHEAST VALLEY went down by 518 from 1 week ago, new contracts in escrow decreased by 155 but sales were up by 121 (5.3%).
With the ACTIVE listings at 18194 and SALES at 2283, we now have 7.96 months of inventory in the pipeline for the South East Valley.
Positive results for the total Phoenix MLS area showed the listings decreased by 1246 to 52778, and while new contracts in escrow did decrease by 322, sales increased by 296. We now have 9.3 months of inventory in the Phoenix MLS pipeline.
It is my growing impression from recent reports that most of the sales in our current market are Bank Owned and Short Sale properties. These sales are frequently at much lower prices than the prevailing MLS listing resales. Appraisers will take these lower sales into account when valuing your home so don't be counting on selling at higher prices than the comparables including repos and Short Sales if you list your home. That is not good news for those in distress but Short Sales may be a way to avoid foreclosure. Not easy, but better that a 3 to 4 year delay in your ability to buy another home in the future.
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