10/29/2009 - Famed economist Robert Schiller predicts we could be near another real estate bubble in some parts of the country.
How do you make sense of it all? Housing data coming out of so many sources that seems to contradict itself is extremely confusing. Always remember, people share data as a means to express an opinion. As has been said, 'there's lies, there's damn lies and then there's statistics.' We'll make it all very clear in the next 2 minutes on Today's New World Of Real Estate.....
Here's the CNN MONEY link to find out where they predict your market's value will be over the next 24 months. This study was done by a private research group that has no political stake in the game which is why I give them credence. Use the top right search tool to find your area's predictions.
10.20.2009
The top 2 real estate stories for the day: 1) Building permits are down across the U.S. and actor Nicholas Cage has sold his California home once listed at 29.9M, now currently priced at 9.9M (not about the actor but the price reduction.....yikes).
So......are you buying the line that unemployment will be the last segment of our economy to recover when things actually turn? By the way, while the broader media would like you to think it's better, it's only better by being 'less worse'. Jobs are still being lost, foreclosure numbers are still rising and in fact were the worst they've EVER been during the previous quarter. So what will it take for foreclosures to slow? It's more than a bit obvious in Today's New World Of Real Estate....
For those of you who'd like to see the foreclosure numbers you can find the entire piece linked HERE. If you expand the map on this page you can see each quarter's results for any state in the U.S. during 2009.
Believe it or not, this isn't a story about how real estate is going to hell in a hand basket. I thnk it's about as far down at this moment as it's going to get. This a challenging time and we're all watching for the proverbial light to appear down the tunnel. A light, a glimmer, a pinpoint of something not dark.....no matter....we'll know it when it gets here. When it gets here is going to be 2010...unless the inflation bogey man gets here first with higher interest rates. At that point you'll see me on a beach in south Florida selling bottled water. If it comes to that, it won't be so bad.....quick closing, few call backs and a great tan.
So......are you buying the line that unemployment will be the last segment of our economy to recover when things actually turn? By the way, while the broader media would like you to think it's better, it's only better by being 'less worse'. Jobs are still being lost, foreclosure numbers are still rising and in fact were the worst they've EVER been during the previous quarter. So what will it take for foreclosures to slow? It's more than a bit obvious in Today's New World Of Real Estate....
For those of you who'd like to see the foreclosure numbers you can find the entire piece linked HERE. If you expand the map on this page you can see each quarter's results for any state in the U.S. during 2009.
Believe it or not, this isn't a story about how real estate is going to hell in a hand basket. I thnk it's about as far down at this moment as it's going to get. This a challenging time and we're all watching for the proverbial light to appear down the tunnel. A light, a glimmer, a pinpoint of something not dark.....no matter....we'll know it when it gets here. When it gets here is going to be 2010...unless the inflation bogey man gets here first with higher interest rates. At that point you'll see me on a beach in south Florida selling bottled water. If it comes to that, it won't be so bad.....quick closing, few call backs and a great tan.
10.16.2009
So......are you buying the line that unemployment will be the last segment of our economy to recover when things actually turn? By the way, while the broader media would like you to think it's better, it's only better by being 'less worse'. Jobs are still being lost, foreclosure numbers are still rising and in fact were the worst they've EVER been during the previous quarter. So what will it take for foreclosures to slow? It's more than a bit obvious in Today's New World Of Real Estate....
For those of you who'd like to see the foreclosure numbers you can find the entire piece linked HERE. If you expand the map on this page you can see each quarter's results for any state in the U.S. during 2009.
Believe it or not, this isn't a story about how real estate is going to hell in a hand basket. I thnk it's about as far down at this moment as it's going to get. This a challenging time and we're all watching for the proverbial light to appear down the tunnel. A light, a glimmer, a pinpoint of something not dark.....no matter....we'll know it when it gets here. When it gets here is going to be 2010...unless the inflation bogey man gets here first with higher interest rates. At that point you'll see me on a beach in south Florida selling bottled water. If it comes to that, it won't be so bad.....quick closing, few call backs and a great tan.
For those of you who'd like to see the foreclosure numbers you can find the entire piece linked HERE. If you expand the map on this page you can see each quarter's results for any state in the U.S. during 2009.
Believe it or not, this isn't a story about how real estate is going to hell in a hand basket. I thnk it's about as far down at this moment as it's going to get. This a challenging time and we're all watching for the proverbial light to appear down the tunnel. A light, a glimmer, a pinpoint of something not dark.....no matter....we'll know it when it gets here. When it gets here is going to be 2010...unless the inflation bogey man gets here first with higher interest rates. At that point you'll see me on a beach in south Florida selling bottled water. If it comes to that, it won't be so bad.....quick closing, few call backs and a great tan.
10.15.2009
If you are a home buyer or seller, be aware the government is out to make your life better..... (NOT)! What they are doing with the HVCC (Home Valuation Code of Conduct) is making virtually every real estate transaction harder and slowing down the housing recovery. Here's how:
Meanwhile, I am absolutely astounded that the media keeps pumping us full of 'recession is over' good news. When your unemployment goes from 450K per month of jobs lost to 275K of jobs lost, we generally don't think of it as a recovery. What DOES happen with those stats is that people keep losing their houses.
See the full story HERE.
I have said it 1000 times and I'll keep saying it. Real estate and home ownership are still a great investment.....but not in 2 years. Take the long term view and not only will you have a wonderful place for you and your family to be but a significant investment as well. The days of 'flip this house' are over. Our mindset of home ownership is being forcibly changed and those of us who heed that change will benefit. Those who don't.....well just remember the parable about those who ignore history.....and how they WILL be destined to repeat it.
Meanwhile, I am absolutely astounded that the media keeps pumping us full of 'recession is over' good news. When your unemployment goes from 450K per month of jobs lost to 275K of jobs lost, we generally don't think of it as a recovery. What DOES happen with those stats is that people keep losing their houses.
See the full story HERE.
I have said it 1000 times and I'll keep saying it. Real estate and home ownership are still a great investment.....but not in 2 years. Take the long term view and not only will you have a wonderful place for you and your family to be but a significant investment as well. The days of 'flip this house' are over. Our mindset of home ownership is being forcibly changed and those of us who heed that change will benefit. Those who don't.....well just remember the parable about those who ignore history.....and how they WILL be destined to repeat it.
Subscribe to:
Posts (Atom)