From RealTrends.com: As the economy recovers, markets will stabilize but the old “normal” will not return, according to a new study by John McIlwain for The Urban Land Institute.
Here are ULI’s predictions:
Marion Skubi
Housing Economists: Sales Are On The Rise
From RealTrends.com: The housing recovery should gain momentum in 2010, but the improvement will still be slow, according to a panel of economists speaking at the International Builders Show in Las Vegas. “It won’t be a strong recovery, but it will be a recovery,” said David Crowe, chief economist for the National Association of Home … Read more
Pending Home Sales Down from Surge but Higher than a Year Ago
From RealTrends.com: Contract activity for pending home sales fell after a surge of activity in preceding months to beat the original deadline for the first-time home buyer tax credit but remains comfortably above a year ago, according to the latest survey. The Pending Home Sales Index, fell 16.0 percent to 96.0 from an upwardly revised … Read more
Year-End Report
2009 Sales YTD Avg List Price Avg Sale Price 2008 Sales Value of the Month Las Campanas 41 1,213,741 1,105,912 51 Northwest County 75 743,363 692,943 75 Northeast City 84 865,518 801,782 89 Tesuque 14 1,079,643 989,332 14 Santa Fe City 942 513,841 481,373 1010 Santa Fe County 980 508,190 475,965 1059
Fed: It’s Time the Market Stands on its Own
From RealTrends.com: April 1 will be the first day that the Federal Reserve will end its debt purchase program and allow the struggling U.S. mortgage market to operate unassisted. As a result, the Fed believes mortgage rates will rise about three-quarters of a percent to about 6 percent, Boston Fed President Eric Rosengren said recently. … Read more
Home Sales Surge in Markets across the Country
RISMEDIA, December 28, 2009—(MCT)—November 2009 was a positive month for the real estate industry as home sales surged in a majority of markets across the country. Spurred by low prices and the extended and expanded home buyer tax credit, home sales were up in Las Vegas, Nevada; Ohio, the Midwest; and upstate New York, according to reports late last week. While other reports point to sales being down in California, home prices nationally were up—causing for a wave of optimism to be felt throughout the industry.
Winter Edition of Santa Fe Showcase is Here!
The 2009-10 Winter Edition of Santa Fe Showcase is here! All of our listings are featured. Take a look by following this link: www.santafeshowcase.com
Geithner: Market Shows Signs of Stabilizing
From RealTrends.com: Secretary of the Treasury Tim Geithner recently spoke before the Congressional Oversight Panel. Here’s what he said about housing:
30-Year Fixed Mortgage Rate Increases for First Time Since Mid-October
RISMEDIA, December 10, 2009—The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased five basis points last week to 4.67%, up from 4.62% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com. Rates for 15-year fixed mortgages rose one basis point to 4.20% from 4.19%, while 5-1 adjustable rate mortgages remained flat at 3.74%.
November
November 2009 Single Family Homes Only Sales YTD Avg List Price Avg Sale Price Sales YTD November 2008 Value of the Month Las Campanas 37 1,208,903 1,111,335 47 Northwest County 67 760,794 709,157 70 Northeast City 77 890,839 825,081 81 Tesuque 13 1,139,692 1,043,512 13 Santa Fe City 861 515,328 483,320 928 Santa Fe County 897 509,507 … Read more