Daily Archives: April 10, 2013

Sellers Becoming Confident In The Housing Market | South Salem Real Estate

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Realtor.com March data indicates that the amount of homes on the market showed a modest increase since February 2013

SAN JOSE, Calif., April 10, 2013 /PRNewswire/ – Realtor.com, the leader in online real estate operated by Move, Inc. (NASDAQ:MOVE), today released its March data on the U.S. housing market that shows growing optimism and confidence among potential sellers. Realtor.com’s March 2013 data indicates that while national housing inventory decreased 15.22 percent since last year, the number of listings increased 2.36 percent since February 2013. This month-over-month increase indicates a renewed willingness in sellers to put their homes on the market as list prices increased .05 percent both year-over-year and month-over-month to a national average list price of $190,000. The data also showed that the median age of inventory dropped to 78 days — a decrease of 20.41 percent since February.

“The newest data shows that the outlook is optimistic for the overall real estate recovery,” said Steve Berkowitz, chief executive officer of Move, Inc. “The housing market is a key indicator for the national economy, and things are slowly picking up steam. The next three months will be significant in determining the impact of the recovering housing market.”

A month-over-month inventory increase of 2.36 percent reflects a rise in new property listings since February 2013, but there are drastically fewer homes on the market compared with this time last year (15.22 percent less). While the median age of housing inventory continues to decline year-over-year by 12.35 percent, the amount of time houses are sitting on the market has decreased dramatically by 20 days since February, suggesting that a broad-based housing recovery is beginning to take hold.

via dailymarkets.com

Katonah Real Estate | Housing market in San Diego County heating up

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SAN DIEGO – The housing market in San Diego County is heating up. The “for sale” signs you do see often disappear in days or weeks.

Supply and demand are pushing prices through the roof and real estate is on a roll.

Broker Scott Voak, who is with Voak Homes in Rancho Bernardo, says the supply is so low that he does not have any homes to market right now. The demand has created fierce bidding wars.

“It’s insane,” said Voak. “We had the only house in the market under $650,000 and we had 10 offers and sold for $55,000 over the appraisal.”

The latest numbers in San Diego County show inventory is down 40 percent from a year ago. Home prices are up 24 percent for attached homes and 16 percent for detached homes. 

Neighborhoods in the Poway Unified School District seem to be the hottest ticket.

Voak says foreign investors are buying up properties and that all those distressed properties from the collapse are dwindling in supply. It all creates a perfect storm for demand.

“That’s pushing prices up and causing a frenzy with buyers,” said Voak. “A lot of buyers are scared… it’s no fun for buyers.”

However, buyers still have a good interest rate on their side, and many are resorting to what has been coined “love letters.”

via 10news.com

Whistleblower Report on Bank of America Foreclosures | Bedford NY Real Estate

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Barry’s Newsfeed

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Diverging Paths: Stocks & The Market’s Inflation Forecast

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via ritholtz.com

Are Home Prices Are Rising Too Fast? | Pound Ridge Real Estate

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Nick Timiraos explains how the Federal Reserve keeping interest rates low is causing home prices to grow faster than they normally would during a recovery, and that has some experts worried.

Category: Real Estate, Video

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

11 Responses to “Are Home Prices Are Rising Too Fast?”

  1. Chief Tomahawk says:

    Saw an SFGate article recently which said one homebuyer was using an “interest-only” loan to buy. I believe that means the third “i” in Warren Buffett’s investing gameplan has been turned loose yet again. Probably only because Uncle Sam is the 4th “i”.

  3. wally says:

    Interesting points. The mirror image issue is that middle class incomes have not risen for many years. Eventually that plays havoc with any modern developed economy because consumer spending is the foundation of all such economies. This will become a bigger and bigger structural issue – and political issue – in the years ahead.

  4. rj chicago says:

    Read yesterday’s post by BR originated by Mark Hanson Advisors – Nuf said.

  5. wisegrowth says:

    We need to keep in mind that there was an income shock to the economy by high income earners just before the end of 2012 due to a tax change. This extra income at the high income level of the economy has made its way into the stock market and the real estate market. The income to support the rise in these asset values won’t be sustained after a few months.
    My view is that the economy was pushed closer to a recession because of the income shock to the economy.
    I posted this explanation for you all…

    http://effectivedemand.typepad.com/ed/2013/04/an-income-shock-can-push-us-into-an-economic-contraction.html

  6. BuildingCom says:

    Sadly, prices weren’t allowed to fall due to interference and the end result is the market was never allowed to clear.

    What does that mean? Simply put, the housing price correction has been delayed and prices have even further to fall.

  7. MikeNY says:

    It’s right out of the Greenspan playbook, people: the only solution to a burst bubble is … another, preferably bigger, bubble!

  8. Angryman1 says:

    Nope, cause prices aren’t rising that fast. Note where they are rising and where they are still falling. Classic. Eventually those areas booming will cool and those areas struggling will nominally rise at a constant rate.

  9. AtlasRocked says:

    *SNIP*

    Ideological nonsense deleted due to stupidity

  10. ByteMe says:

    Not sure we’re in “bubble territory” again, but…

    What I’m seeing is that in 2004-2007, we had a huge number of smaller investors buying up real estate, but they didn’t have the deep pockets to sustain themselves during tough times and they were overpaying for their investments. Obvious bad outcome.

    Now what we’re seeing is a smaller number of deep pocketed large investors using cheap money to swoop in and buy undervalued properties and renting them. A year ago, we had no problem picking up a reasonably priced investment property; this year, we’ve tried for 7 properties so far and haven’t been able to do the deal because someone else with deeper pockets wanted to pay more than was reasonable (considering the work involved in renting properties, anything less than an 8% annual return seems stupid to me, but clearly not to someone with a huge wad of someone else’s cheap money).

    So, there’s not a bubble yet… but there are definitely pockets of inefficient money out there.

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via ritholtz.com

Best Real Estate Camera? | Armonk NY Real Estate

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Best Real Estate Camera?

by Steve Pacinelli on Apr 1st, 2013
in Tags: , , , , ,
Posted in Home Page Slider, Photo/Video

What is the best camera out there for real estate?

That is the most popular question I get while traveling across the country and on the Tech Savvy Agent Facebook page.

The boring answer is….there isn’t a single camera that is best suited for real estate. Cameras evolve so quickly, new models appear yearly, and everyone has a different level of photographic skill.

Camera Specifications

However, I know you guys still want some type of direction for your budget, and that is the keyword here…budget. When people ask me to recommend a “good” option, my price range for a “decent” kit starts at around $1500. Does that make it the only price range you should look in?  No, for most agents that investment simply isn’t feasible, or some agents have the budget to go much higher!

I created a video tutorial that might help you with this question.  No, I don’t tell you what camera to buy.  Instead, this video covers what to look for in a camera that will be used for real estate purposes.   It doesn’t matter if you want to spend $500 or $5000 dollars…. it’s important to have a basic understanding of each specification and what it means to you and your final images.

This might not be the most popular video on Tech Savvy Agent, due to the length and depth of the topic, but it will undoubtedly help an agent looking for a good real estate camera right now or in the future.

 

 

via techsavvyagent.com