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Real Estate News Headlines…. Are you as Confused as I am?? November 24, 2009

Posted by mkuhbock in AZ Real Estate News.
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Well the newest real estate articles are posted below and once again they can educate and also add to our daily confusion on what the hell is going to happen to the real estate market in the US.

One thing is for certain, if you don’t like the market prognosis today you will only have to wait a couple of hours to have it change to your liking. 🙂

October home sales rise 10.1 pct from September
October home sales up 10.1 percent, beating expectations as tax credit spurs sales

* By Alan Zibel, AP Real Estate Writer
* On 4:18 pm EST, Monday November 23, 2009

WASHINGTON (AP) — Home sales surged for the second month in a row in October, climbing to the highest level in 2 1/2 years as first-time buyers rushed to take advantage of an expiring tax credit…  Link to full article

Home prices up slightly in September

Home prices up slightly in September; analysts expect declines as foreclosures rise

  • By Alan Zibel, AP Real Estate Writer
  • On 11:59 am EST, Tuesday November 24, 2009

WASHINGTON (AP) — The summer’s trend of rising home prices is ebbing as the traditional home shopping season ends, two reports Tuesday showed… Link to full article

10 Questions on the Volatile Housing Market

James R. Hagerty
Wednesday, November 18, 2009

Lower prices have spurred home sales, but looming foreclosures and high unemployment are clouding the outlook

The U.S. housing market has been in a slump for the past four years. When will it ever end?

In recent years, real estate has proven as jittery and unreliable as any other market.

Link to article and the 10 answered questions

1 in 4 Mortgage Borrowers is Under Water

Posted by David S Morgan

Nearly a quarter of U.S. mortgage holders owe more on their loans than their houses are worth, according to a report today in the Wall Street Journal.

Data from First American CoreLogic, a Santa Ana, Calif.-based real-estate information company, shows that in the third quarter of 2009 almost 10.7 million households had negative equity in their homes.

Link to the full article

Housing Bottom? “Not Even Close,” Barry Ritholtz Says

Posted Nov 24, 2009 02:07pm EST by Aaron Task

A fifth-straight monthly gain for the Case-Shiller Index Tuesday and Monday’s stronger-than-expected existing home sales report is giving renewed hope to the housing bulls.

“Disregard them,” says Barry Ritholtz, CEO of Fusion IQ,….

Link to video and article

New US home sales rise 6.2 percent

October new US home sales up 6.2 percent in sign of stability for housing

  • By Alan Zibel, AP Real Estate Writer
  • On 10:55 am EST, Wednesday November 25, 2009

WASHINGTON (AP) — Sales of new homes rose last month to the highest level in more than a year as strong activity in the South offset weakness in the rest of the country.

The Commerce Department said Wednesday that sales rose 6.2 percent to a seasonally adjusted annual rate of 430,000 from an upwardly revised 405,000 in September. Economists surveyed by Thomson Reuters had expected a pace of 410,000….

Link to full article

Arizona second in underwater loans

Phoenix Business Journal – by Jan Buchholz

Arizona has more homeowners who are underwater with their mortgages than any other state, save one.

About 48 percent of homeowners here owe more on their mortgages than the home is worth. That is second only to…

Link to full article

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Real Estate is all about self education June 24, 2009

Posted by mkuhbock in Arizona Vacation Property, Uncategorized.
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1 comment so far

Regardless of how many personal and professional advisors one has nothing replaces self education, especially when dealing with vacation or investment property purchases.

In past posts I have listed many real estate resources that one can put into their arsenal and frankly you can never have too many available. I recently came across a couple of others that seem to be a little slicker than previous real estate resource sites.

Zillow is of course one of the higher profiled comp sites and they do reflect pricing reality but you cannot bank on the values, it is a great start to your research. Trulia is another major real estate search portal.

A new site called Movoto has just entered into the Arizona market and seems a little more indepth than Zillow but time will tell, again another good research site.

Of course there is the old standby Realtor.com or Realtor.ca for Canada which are the official sites of the National Association of REALTORS® and is operated by Move, Inc. and the Canadian Real Estate Association respectively.

Do not confuse Realtor.com and Realtor.ca with mls.com which is an independently owned and operated Real Estate Advertising Service Company site.

Some other real estate sites I have stumbled across are:

http://www.cyberhomes.com/

http://www.foreclosuredeals.com/

Arizona Neighborhoods.com

Home Finder.com

These are only a few of hundreds of sites but at least it is a start in your education process.

Happy house hunting!

Cheers,

Michael

PS

Here is an interesting article outlining a new program for buyers:

New program yet to help buyers land homes
CNN International – USA
Connolly has been in the Phoenix real estate market for about nine years and has seen the disastrous real estate downturn up close. …