Great Inventory News
June 24, 2011 by admin
Filed under foreclosures, Positive Real Estate
According to CoreLogic the current residential shadow inventory nationwide has dropped 0.2 million units, representing a five-month supply of houses yet to hit the market. This is a significant decrease from the shadow inventory a year ago which was estimated to be 1.9 million housing units, also considered to be a five-month supply. Corelogic says this is because of “fewer new delinquencies and the high level of distressed sales.”
Additionally, theFederal Housing Finance Agency (FHFA) says that prices rose 0.8 percent in April over March for the first time in almost a year.
Related articles
- Shadow Inventory Falls 18% from Peak (nocohomes.wordpress.com)
- CoreLogic: Shadow Inventory Declines to 1.7 Million Homes (johnmurphyreports.com)
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Positive Realty News Survey Report
April 13, 2011 by admin
Filed under Real Estate Articles
The Cotton and Company sent 65,732 registrants on resort and real estate websites a survey on their home buying intent.
Total responses to date: 807 Survey sent: February 25, 2011 Click the PDF graphic to get the report.
Or visit www.TheCottonSolution.com
Background: The Cotton and Company are industry leaders the sales and marketing of residential real estate throughout the United States, Latin America and the Caribbean. Managed more than 1600 properties over the past 28 years. Provides integrated market research, analytics, marketing, web development, public relations, sales management, and customer database management services.
Some of the more salient findings:
The vacation home market has experienced a rebound in 2011, moving from 4% to 36% interest year-over-year. This is the
highest level of interest throughout the 3-year period.
• In 2010, 95% of the respondents who were no longer in the market for real estate cited economic instability as the reason for not
purchasing. In 2011, 46% of the respondents cited no desire to move, indicating a 41% drop in the response aligned with
economic conditions.
• Buyers who must sell their home prior to purchase dropped 10% year-over-year, reflecting 32% in 2011.
• Buyers who plan to purchase within 6 months saw a 21% increase from 2010. In 2011, 25% of the buyers indicate a timeline to
buy within 6 months, however, a 13% increase in the “over 2 years” category was also noted.
• Respondents remained virtually unchanged in their answer to “Have we reached the bottom of the market?” signifying continued
concern over pricing stability.
• The level of anticipated price reduction continues to show improvement in 2011, a result of significant price adjustments in the
market. In 2009, the median anticipated discount was 50%. In 2010, 30%. In 2011, this level has reduced to just 20%.
• Buyer transition indicates a continued trend toward downsizing and geographic relocation. This trend is also reflected in the
increased interest in smaller villa product type.
• 1,700 to 2,300 square feet remains the most popular residence size. However, growth occurred in the smaller home segment
with 31% of the market seeking a home between 1,000 and 1,600 square feet of space.
Mr. Cotton offers up his advice to Realtors and Mortgage pros on how to get their marketing ready to handle the realities of todays real estate market.
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USDA: Nebraska farm real estate value up 9 percent
August 17, 2010 by admin
Filed under Positive Real Estate
- Image via Wikipedia
LINCOLN, Nebraska
Recent figures from the U.S. Department of Agriculture reveal that Nebraska farm real estate value rose a whole 9 percent over the year of 2009, to a astonishing record of $1,460 an acre. The statistics say that the increase continues a trend dating back to 1993. The Nebraska farm real estate value on January 1 was $120 an acre higher than that of Jan. 1, 2009, another impressive record. Average croplan rose 11 percent from last year while dryland average $2,000 an acre.
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Top Ten Places to Live for Working Class Women
August 3, 2010 by admin
Filed under Positive Real Estate, Positive Real Estate Brokerages, Real Estate Articles
- Image by marcof via Flickr
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)
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June Shows Strong Signs
August 2, 2010 by admin
Filed under Home Resales, Pending Home Sales, Positive Real Estate, Positive Real Estate Brokerages, Real Estate Articles
- Image via Wikipedia
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)
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California Leads the Way
July 26, 2010 by admin
Filed under california, Home Resales, Pending Home Sales, Positive Real Estate, Positive Real Estate Brokerages, Real Estate Articles
- Image by gordeonbleu via Flickr
Berkeley, California homes lead the country in homes sold above the asking price, about 108% above the asking price. Seven of the top ten zip codes with homes sold above the asking price where in California.
Berkeley, California homes lead the country in homes sold above the asking price, about 108% above the asking price. Seven of the top ten zip codes with homes sold above the asking price where in California.
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California Up in June
July 18, 2010 by admin
Filed under california
- Image via Wikipedia
An estimated 43,964 new and resale houses and condos were sold statewide last month. That was up 7.3% from 40,965 in May, and down 0.5% from 44,167 for June 2009, according to MDA DataQuick.
California sales for the month of June have varied from a low of 35,202 in 2008 to a peak of 76,669 in 2004, while the average is 50,405. MDA DataQuick’s statistics go back to 1988.
The median price paid for a home last month was $270,000, down 2.9% from $278,000 in May, and up 9.8% from $246,000 for June a year ago. The year-over-year increase was the eighth in a row, following 27 months of year-over-year decline. The bottom of the current cycle was $221,000 in April 2009, the peak was at $484,000 in early 2007.
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- Firm: Calif. June home sales up 7 pct. from May (seattletimes.nwsource.com)
- Firm: Calif median home price rises in month (seattletimes.nwsource.com)
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Phoenix Homes Sales Improve
June 3, 2010 by admin
Filed under Positive Real Estate
- Image by Getty Images via @daylife
Phoenix Arizona homes sales are up to a four-year high in April. The median sale price rose above the year-ago level for the second consecutive month. Because of larger price stability and fewer foreclosures and other properties selling below $100,000, according to MDA DataQuick of San Diego.
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Whistler is Back!
May 31, 2010 by admin
Filed under Positive Real Estate
- Image via Wikipedia
WHISTLER, BC. –May 29, 2010 Great news, the economy is recovering!! Everyone look up, there is a light at the end of the tunnel, or is there? It seems that this little ray of hope has spurred a large number of first and second homeowners to jump onto an increasingly crowded bandwagon in an attempt to seize the moment.
So what is leading up to this sudden storm? Here in Whistler it has been a while since we have seen any significant upward movement in the real estate market but over the last few months I have seen an explosion of listings and I think it comes down to economic perceptions. Homeowners are seeing and hearing about an economic recovery and as a result individuals who have been holding off are now listing their properties.
With this increased interest, the market is getting dangerously close to flood conditions, with too much supply, far outpacing the demand. The economy may be recovering but this is metaphorically like a house fire and someone yells, “I see the way out”. The next thing you know the exit is congested with people and their movement is limited to a trickle.
I have been watching the market now for quite some time and I hate to say it but I’m joining the bandwagon. I will be listing our home on June 1st and I have really really sharpened my pencil in an attempt to drive a quick offer based on a great price to quality ratio. Today I posted a sneak peak of it on the Whistler Real Estate Buzz, (http://budurl.com/hotpeak) and I am seeing a huge volume of interest judging from the number of hits the page is getting. It would seem that price and quality are key in this highly competitive market. But like everyone else I now have my fingers crossed.
I have seen and heard of a lot of interesting things going on in an attempt to stand out such as additional cash incentives for agents who can turn over properties in 72 hours. I am also beginning to see domino listings, (A long list of done deals but all with a subject to sale). This domino effect is spurred on by sellers dropping prices and then the potential buyers dropping their price on their own homes to take advantage of the previous deal. In turn more and more buyers and sellers join the list, each one hoping that the dominos don’t start falling the wrong way.
For individuals like myself who keep an interested eye on the market here in Whistler, there is a lot of really interesting things happening. I am seeing all these articles on a “Bullish high-end market”, “The Olympic Effect” and “Luxury Homes Sales Soar”. The issue is that these positive messages have the opposite effect and are lowering home prices because of the now unbalanced scale of supply vs demand. In the end though it is really about coming to market with a value proposition to potential buyers. Right now in this unbalanced market you simply have to sharpen your pencils that much further.
For more additional information about market opportunities chat with Matt Warner (matthewlwarner at gmail.com) or visit his personal web site at (http://www.mattwarner.ca) or his Re/Max profile at (http://www.budurl.com/mattwarner). For general up-to-date real estate market movement here in Whistler you can subscribe to the Whistler Real Estate Buzz (whistlerbuzz.wordpress.com)
About Matt Warner – listing agent
Matt Warner grew up on the North Shore of Vancouver and in 1978 the family purchased a small Whistler ski condominium. Warner eventually moved to Whistler permanently in 1987. He has a degree in marketing from Capilano University and became a licensed real estate agent in 1989 where he has been consistently a top producer. “I have an effective easy going approach and put my clients needs and interests at the forefront.” Matt is also an avid squash, tennis and golf enthusiast.
Media contact: Robert Eberhard roberteberhard1(at)gmail.com
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Los Angeles industrial real estate outperforms nation
April 28, 2010 by admin
Filed under california, Positive Real Estate
Image via WikipediaFrom LA Times
Industrial property landlords are suffering in most of the country – but not so much in Los Angeles, a real estate brokerage said Tuesday.
Vacancy in the U.S. increased for a 10th consecutive quarter to 10.9% in the first three months of this year, Grubb & Ellis said. Asking rents were down almost 7% from a year ago. With the economy finally starting to improve a bit, the pace of deterioration in the industrial real estate market is easing, “but not quickly,” said the brokerage in a report.
In Los Angeles, vacancy rose a smidgen from a year ago to a mere 3.4% in the first quarter, though that was a six-year high. Asking rents have been coming down for the most part since 2008.
