Mass Home Sales Up 7%
August 23, 2011 by admin
Filed under Positive Real Estate
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Bay State home sales rose 7 percent last month, with single-family home sales totaled 3,847 in July, up from 3,590 in the same month a year ago
In a separate report today, the Massachusetts Association of Realtors tallied a 14 percent increase in single-family home sales, based on a different set of data.
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Commercial Real Estate Better than Stocks
August 14, 2011 by admin
Filed under Positive Real Estate
Image by brizzle born and bred via Flickr
From http://www.theage.com.au/business/property/us-real-estate-to-outshine-risky-stockmarket-20110814-1isxt.html
US COMMERCIAL real estate will perform better than the country’s volatile sharemarket during the current economic downturn because investors value its intrinsic quality, according to a new CB Richard Ellis report.
The study analyzed the effect on commercial real estate of the US economic slowdown, the S&P downgrade of the US credit rating and turmoil in the global financial markets.
”While we anticipate continued stockmarket volatility, commercial real estate will not fare as poorly because it remains a preferred asset class, within a well diversified multi-asset institutional portfolio,” said Asieh Mansour, CBRE’s head of Americas Research…”Investors with higher risk tolerance will look for opportunities in volatile markets while more risk-averse investors may delay new transactions.”..”Lending rates should stay relatively low, with loans conservatively underwritten with stricter covenants. The more risk-averse capital will look for core, income-producing assets in primary markets to satisfy demand,” the authors said.
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Foreclosures Delinquencies Drop Like a Rock
August 13, 2011 by admin
Filed under foreclosures, Positive Real Estate
Image by Getty Images via @daylife
The mortgage delinquency rate across the United States (measured by the # borrowers 60 or more days past due) decreased for the 6th consecutive quarter.
The delinquency rate dropped at 5.82 percent at the end quarter 2 and the 2nd quarter also shows mortgage delinquency rates improved quarter over last quarter at 5.98 percent. This marks the best improvement since the recession officially ended two years ago.
While relatively low home prices and high unemployment continue to exert upward pressure on delinquency rates, they are more than offset by the impact of more conservative lending policies reflecting consumers with higher credit scores,” says Tim Martin, group vice president of the U.S. Housing Market in TransUnion’s financial services business unit. “Not only are these consumers less likely to default if house prices continue to edge downward throughout the year, but their willingness to repay their debt obligations in the face of high unemployment rates is greater. It is because of these dynamics that lenders today take a much closer look at the borrower’s income history and overall debt situation than before the recession began in 2007.
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Positive Signs In Real Estate
August 11, 2011 by admin
Filed under Positive Real Estate
Image by james.thompson via Flickr
Burns has lots of positive news for the housing markets.
- Apartment supply will soon increase in many western markets, coming off very low levels.
- Housing affordability is excellent, which can compete with rentals.
- A wide and more diverse variety of rental products is being developed in western markets.
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Denver Real Estate Rebounds 2.2 Percent
August 9, 2011 by admin
Filed under Positive Real Estate
Home prices rose 2.2 percent in July in Metro Denver area.
The average single-family home sold in July for $298,654, up from $292,230 in June, according to an analysis of Metrolist Inc.
