Tuesday, March 23, 2010
Markets Where Home Prices Could Rise Most according to Money Magazine
March 23, 2010
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Markets Where Home Prices Could Rise Most
Money Magazine has released its latest home-price projections for the country’s largest metropolitan areas. Here are the 10 cities where it believes home prices will rise the most in the next year, and the 10 where it foresees the most substantial declines:
Where prices will rise:
• Santa Rosa, Calif., 6.0 percent
• Cheyenne, Wyo., 4.7 percent
• Kennewick, Wash., 4.6 percent
• Merced, Calif., 4.4 percent
• Bremerton, Wash., 4.2 percent
• Fairbanks, Alaska, 4.2 percent
• Corvallis, Ore., 4.1 percent
• Tacoma, Wash., 3.9 percent
• Anchorage, Alaska, 3.8 percent
• Bend, Ore., 3.3 percent
Where prices will decline:
• Miami, -22.5 percent
• Fort Lauderdale, Fla., -21.3 percent
• West Palm Beach, Fla., -18.5 percent
• Phoenix, -18.5 percent
• Las Vegas, -15.4 percent
• Tampa, -13.8 percent
• Pensacola, Fla., -13.6 percent
• Gainesville, Fla., -13.4 percent
• Suffolk, N.Y., -13.4 percent
• New York City, -12.9 percent
Source: Money Magazine (03/20/20
Thursday, March 18, 2010
Laguna's Median Home Selling Price Up 23%
For the calendar month of February, 2010, Laguna Beach homes showed an increase in median sale price of 23% and sale volume was up over 150%. Laguna's median sale price was $1.6M as compared to all other beach towns where the median sale price was up 0.7% at $690K.Orange County's median sale price was up at $417K, an increase of 11%.
(Median sale price means that half of the sales occurred above the median and half of the sales occurred below the median.)
Source: OC Register, Kelli Hart, 3/16/2010
(Median sale price means that half of the sales occurred above the median and half of the sales occurred below the median.)
Source: OC Register, Kelli Hart, 3/16/2010
Monday, March 15, 2010
Housing Experts Say Real Estate is Recovering
March 15, 2010
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Housing Experts Say Real Estate is Recovering
Some of the nation’s top economists believe the housing market has turned and better days are on the way for the housing industry.
Increases in jobs, credit, and affordable homes will overcome impediments such as rising interest rates, and the expiration of the Federal stimulus program to push the housing market toward recovery, says Dean Maki, chief U.S. economist for Barclays Capital.
“I would bet even odds that we’re at a bottom and that we’re going to see improvement in the coming months,” says Karl Case, co-creator of the S&P/Case-Shiller Home Price Index and a professor of economics at Wellesley College.
“The underlying trend is turning positive,” says Bruce Kasman, chief economist at JPMorgan Chase & Co.
Source: Bloomberg, Kathleen M. Howley and Rich Miller (03/15/2010)
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Housing Experts Say Real Estate is Recovering
Some of the nation’s top economists believe the housing market has turned and better days are on the way for the housing industry.
Increases in jobs, credit, and affordable homes will overcome impediments such as rising interest rates, and the expiration of the Federal stimulus program to push the housing market toward recovery, says Dean Maki, chief U.S. economist for Barclays Capital.
“I would bet even odds that we’re at a bottom and that we’re going to see improvement in the coming months,” says Karl Case, co-creator of the S&P/Case-Shiller Home Price Index and a professor of economics at Wellesley College.
“The underlying trend is turning positive,” says Bruce Kasman, chief economist at JPMorgan Chase & Co.
Source: Bloomberg, Kathleen M. Howley and Rich Miller (03/15/2010)
Again, Builders Say Business Is on the Upswing
March 15, 2010
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Builders Say Business Is on the Upswing
The spring selling season is already keeping builders busy, says Ticonderoga Securities Analyst Stephen East, who surveyed builders in North Carolina, Virginia, Florida, Texas, and California’s Inland Empire.
East found that many builders reported increasing interest among move-up buyers. Builders also said that traffic was not only busy on the weekends, but was also increasing mid-week.
“While the market is benefiting from the tax credit, it is also showing distinct signs of normalizing,” East wrote in a client note.
Source: The Wall Street Journal, Dawn Wotapka (03/12/2010)
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Builders Say Business Is on the Upswing
The spring selling season is already keeping builders busy, says Ticonderoga Securities Analyst Stephen East, who surveyed builders in North Carolina, Virginia, Florida, Texas, and California’s Inland Empire.
East found that many builders reported increasing interest among move-up buyers. Builders also said that traffic was not only busy on the weekends, but was also increasing mid-week.
“While the market is benefiting from the tax credit, it is also showing distinct signs of normalizing,” East wrote in a client note.
Source: The Wall Street Journal, Dawn Wotapka (03/12/2010)
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