From RealTrends.com: The Pending Home Sales Index rose 6.0 percent to 110.9 based on contracts signed in April, from an upwardly revised 104.6 in March, and is 22.4 percent higher than April 2009 when it was 90.6. That follows gains of 7.1 percent in March and 8.3 percent in February.
News
Commercial Real Estate Delivers First Positive Return in 18 Months
From RealTrends.com: Returns on commercial real estate investments reached 1.2% in Q110, the first positive return in 18 months, according to the IPD Quarterly Property Index. The report monitors the trends in the underlying market value and returns of $76 billion of assets held by real estate fund managers in the United States. The office … Read more
Mortgage Rates at Lowest Level of the Year
From RealTrends.com: Long-term mortgage rates fell to the lowest level of the year this week, after falling for five consecutive weeks. Freddie Mac’s weekly rate report puts the average 30-year fixed-rate mortgage at 4.93 percent in the week ending May 13, down from 5 percent last week. Source: Washington Business Journal, Jeff Clabaugh,(05/17/2010)
Marion Skubi Group Second Quarter Newsletter is Here!
Our second quarter Newsletter is hot off of the press! Click Here to Read the 2010 Second Quarter Newsletter
Pending Home Sales on an Upswing
From RealTrends.com: Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of REALTORS®.
The Club at Las Campanas Completes Turnover to Member Ownership and Control
(SANTA FE, NM – May 5, 2010) – Representatives of The Club at Las Campanas and of Las Campanas Limited Partnership today reached final agreement on the debt-free transfer of ownership and full operational control of The Club to its members, effective today. The agreement concludes negotiations that began nearly a year ago, when Representatives of the Bank of Scotland (Now Part of Lloyds Banking Group) assumed control of various Lyle Anderson Company real estate holdings, including Las Campanas Limited Partnership and The Club at Las Campanas.
Signs of Modest Improvement
From RealTrends.com: Modest improvements in the number of loans curing to current and reductions in total new delinquencies are still overshadowed by a large pool (7.39 million) of non-current and REO loans, according to The Mortgage Monitor report by Lender Processing Services Inc. The report is based on data as of March 2010 month-end.
Home Prices Increase Slightly in February
From RealTrends.com: National home prices, including distressed sales, increased by 0.3 percent in February 2010 compared to February 2009, according to First American CoreLogic and its LoanPerformance Home Price Index (HPI). This was an improvement over January’s year-over-year price decline of 0.5 percent. From January to February, U.S. house prices fell 0.2 percent on a seasonally adjusted basis from January to February, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.6 percent decline in January was unchanged. For the 12 months ending in February, U.S. prices fell 3.4 percent. Excluding distressed sales, year-over-year prices increased in February by 0.6 percent–an improvement over the January non-distressed HPI, which fell by 1.1 percent year-over-year.
Prices Stabilizing
From RealTrends.com: According to the February 2010 RPX Monthly Housing Market Report by Radar Logic Incorporated, the data does not indicate that a second nationwide decline in home prices is under way. In fact, trends in home prices and sales activity were more upbeat in February 2010 than they have been at this time of … Read more
Real Estate Slowly Improving
From RealTrends.com: Overall economic activity increased in nearly all parts of the country, with many districts reporting increased activity in residential housing markets, according to the latest edition of the Federal Reserve’s Beige Book.