Year end data for Bay Area in: analysis mixed 3 December, 2010, a year many are glad to see the back of. And of course, as January of the new year is here, analysts look back at December data both to assess the year that was and gauge the year that will be. First item…
The days a house has been on the market is no longer the key red flag to look for when house shopping in today’s economy. Here are some of today’s red flags: Roofs – you should check for buckling, missing portions, vegetation in the roof gutter, and any other signs of damage Appliances – Check…
The post-baby boom generation, Generation Y, is growing in the influence they have over the current real estate market. They definitely have different wants when it comes to home buying than their parents. When it comes to outdoor space, they want a place where they can spend time with friends and cook outdoors. A common…
The following list was determined by 24/7 Wall St. using six factors: (1) vacancy rates for 2010, (2) foreclosure rates for 2010, (3) November 2010 unemployment rates, (4) change in building permits from 2006 to 2010, (5) change in population from 2005 to 2010, and (6) price reduction by major cities for 2010. Michigan: One…
While people are leaving California to move to other states, such as tax shelter states like Arizona and Nevada, it is not in the form of a mass exodus like some people believe. Studies show that 69% of the population of California were born in the state, leading to one of the highest retention rates…
Five key factors that are driving house prices down: Mortgage rates are going up Mortgage delinquencies are increasing again Mortgage lenders have really tightened standards The entire mortgage industry continues to be mired in legal problems The underlying economy continues to be very poor Indicators show that house prices in America will continue to fall…
An record 2.87 million U.S. households received a foreclosure filing The number of homes that were repossessed reached the 1 million mark for the first time ever The price of gold moved above $1400 an ounce for the first time ever According to the American Bankruptcy Institute, approximately 1.53 million consumer bankruptcy petitions were filed,…
An “ARM” is an adjustable rate mortgage loan while an “FRM” is a fixed rate mortgage loan. The arms-to-loan measurement (ATL) is important to determining the relationship between these two loan types. This relationship can, in turn, be used to predict sales volume and price units for the next year or two even more accurately…
Richard Maize, a leader in the real estate industry, states: “My opinion for 2011 is that interest rates will increase from its current very low numbers. This factor is a negative for the industry. If we are keeping score we are 0 for 1 as to a positive for 2011 real estate market.” Information gathered…
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