Michael Kuhbock

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

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

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

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

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