Housing Market Boast Brilliant Numbers

New home sales jumped 23.6% in June to an annual rate of 330k compared to market expectations for a somewhat smaller increase to a rate of 320k. Also, the S&P/Case-Shiller 20-city home price index increased 0.5% in May from April and 4.6% from May one year ago. This was the second monthly increase and the fourth year-over-year gain in home prices. 15 of the 20 metro areas tracked by this index showed monthly price gains.

Caribbean Condos with Guaranteed Income for Investors

Mexico’s beautiful Yucatan Peninsula hosts some of the oldest real estate on the continent, the 500 year old Colonial City called Merida, and it hosts the lavish newly developeing beachfront properties of the Caribbean. Eric Partney, associate broker at Mexico International, explains, “After
living in the Yucatan for 6 years I am still charmed by the diversity. My
clients love the old colonial homes in Merida but also want beachfront for
investment and retirement. I am now working with a new condo-hotel project
called ‘Sian Ka’an.’ This project is unusual in that you can buy a small
condo starting in the mid-$150,000 range and get a guaranteed income since
the Hotel Bahia Principe is leasing back the units for a minimum of 7 years.
This is an easy way to buy now with a guaranteed income plus have your own
piece of paradise in Mexico.”

Miami-Dade Pending Home Sales Increase 40.5 Percent from a Year Ago

Total pending home sales in the Miami-Dade County increased 40.5 percent in July 2010, when compared to the July 2009 numbers. This real estate  includes single-family style homes and condominiums. Even though the tax credit, which helped boost the South Florida real estate market, expired, Miamia-Dade Couny has shown impressive signs as it continues to strengthen.

Middlefield Banc Corp. Reports Strong Second Quarter Earnings and Continued Asset Growth

Midfield banc Corp announced some positive numbers today. First of all, net income has risen 55.1% up to 715,000 dollars. Total assets have increased to 12.9 million dollars while net loans grew to 4.5 million dollars. “In the second quarter, Middlefield Banc Corp. again delivered a strong financial performance in an economic environment that continues to be extremely challenging,” stated Thomas G. Caldwell, President and Chief Executive Officer, “The results for the quarter continued to demonstrate solid performance on many fronts, including continued core deposit growth, an expanded net interest margin, and additions to our capital base.” He went on to explain “Our focus remains sharply on sound, fundamental banking practices designed to deliver excellence in customer service. By so doing, we will work to ensure an increase in value to our shareholders.”

Top Ten Places to Live for Working Class Women

ForbesWoman just released the best cities for working women with children. It acknowledged crime rates, quality of schools, availability of quality healthcare, employment, and budget-friendly cost of living.

The list is:

Minneapolis-St. Paul, Minn.

Washington, D.C.

Boston, Mass.

Pittsburgh, Pa.

Baltimore-Towson, Md.

Denver, Colo.

Hartford, Conn.

New York

Seattle-Tacoma, Wash.

Buffalo-Niagara Falls, N.Y.

Source: ForbesWoman, Meghan Casserly (07/26/2010)

Neighborhood Shopping Center Sells for $16,000,000 in La Cañada, Calif.

The 42,093-square-foot shopping center, known as Foothill Promenade, sold for as much as 16 million dollars recently. Tenant’s include Trader Joe’s, Union Bank, Petco, Aaron Brothers, Starbucks and Han’s Beauty. The purchase is part of the buyers’ plan to acquire high quality shopping centers in Southern California. “This combined with an increased demand from investors has created a very competitive environment so far this year. In the past couple of months, the market has started to see an increase in neighborhood shopping centers sold and marketed for sale in southern California. Watch for this trend to continue and pick up momentum moving into the fourth quarter,” reported William B. Asher of Hanley Investment Group.

NAR Supports the Growth of Small Businesses

“As the leading advocate for private property rights, NAR believes it is critical for Congress to act soon and to get capital flowing to small businesses and to the commercial real estate market,” Jim Helsel, treasurer of the National Association of Realtors, told the House Committee on Financial Services. He explained that raising the SBA loan limits and allowing the SBA 504 loans to be used to refinance property can help ease the liquidity crisis in the commercial sector. He went on to articulate that the NAR strongly supports the H.R. 3380 because it is projected to raise the credit union member business lending cap from 12.25 percent to 25 percent of total assets. Small regional and community banks make up for close to half of the small business loans issued in the United States. Needless to say, available credit unions increase the credit accessible by small businesses.
Source: NAR

Great Numbers Give Great Message

The 30-year fixed mortgage rate dropped to 4.54 percent, almost a full percent lower than the 5.25 percent of last year. Other positive signs prevail in the 15-year fixed rate which also hit a record low of 4 percent, smaller than the 4.69 percent from last year. Also, the five-year adjustable rate mortgage averaged 3.76 percent, better than the 4.75 percent from last year. To add, the one-year ARMs average 3.64 percent compared to 4.8 percent of last year.

Source: The Wall Street Journal, Nathan Becker (07/30/10)

June Shows Strong Signs

New homes have risen 24 percent during the month of June compared to that of May. “The future is going to be dependent on job growth.” says Eric Green, chief market economist at TD Securities Inc. in New York.

Source: Bloomberg, Courtney Schlisserman (07/26/2010)

Breckenridge and Summit County Co Real Estate Shows Recovery

From January through May 2010, the number of sales in Summit County real estate increased 20 percent, compared to the first five months of 2009. A Breckenridge ski-in, ski-out home sold in 2009 for a record $8.29 million. The most expensive residential Breckenridge land sold for $3.3 million in January 2010.

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