Monthly Archives: March 2011

CoreLogic: 11.1 Million U.S. Properties with Negative Equity in Q4

About 10% of homeowners with mortgages have more than 25% negative equity. The break down of equity by state.  

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Existing Home Sales: Benchmarking FAQ

In the 2010 Census, a long-form questionnaire was not used. Therefore, the Census no longer asked about whether people moved and bought a home. So another brand new benchmarking process is needed. NAR has already been in contact with all … Continue reading

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…”Home ownership makes sense for most Americans, particularly at today’s lower prices and bargain interest rates.”–Warren Buffett

Something positive! The famously successful Chairman of Berkshire Hathaway made his observation a month ago in his annual letter to shareholders. The Oracle of Omaha is certainly aware of the state of the housing market and added: “A housing recovery … Continue reading

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Census 2010: Households, Housing Stock, and Vacant Housing Units: Understanding Why Demographers Drink

A lot of negative news on housing, working hard to find something positive. TKS   by Tom Lawler If one were to assume that the current “excess supply” of housing was around 1.75 million, and that the net housing stock … Continue reading

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‘Upward drift’

‘Upward drift’ One reason for concern about the Realtors’ data is that when assessing the outlook for future sales, forecasters rely heavily on the inventory of homes on the market, which is generally expressed in number of “months’ supply.” That … Continue reading

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NEW RESIDENTIAL SALES IN FEBRUARY

NEW RESIDENTIAL SALES IN FEBRUARY 2011Sales of new single-family houses in February 2011 were at a seasonally adjusted annual rate of 250,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. … Continue reading

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U.S. February Existing Home Sales Fall to 4.88 Million Rate

March 21 (Bloomberg) — Sales of U.S. previously owned homes dropped more than forecast in February and the median purchase price declined to the lowest since April 2002, indicating the housing market is struggling to recover. Purchases decreased 9.6 percent … Continue reading

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ECONOMIC REPORTS this Week

ECONOMIC REPORTS Data will include existing home sales for February (Monday); new home sales for February (Wednesday); durable goods orders for February and initial jobless claims (Thursday); and gross domestic product for the fourth quarter and the Thomson Reuters/University of … Continue reading

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Home construction slows to a crawl Building pace is far below the level economists consider healthy

WASHINGTON — Builders broke ground last month on the fewest homes in nearly two years and cut their requests for permits to start new projects to a five-decade low. The decline in construction activity is the latest evidence that the U.S. housing … Continue reading

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Home Maintenance this Spring

Check outdoor paint for peeling, cracking and coverage Inspect attic for insulation and leak stains Inspect weather stripping, thresholds, transitions, and windows Inspect exterior trim, gutters, and downspouts Clean gutters Remove storm windows and install screens Test smoke detectors and carbon … Continue reading

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