Friday, January 29, 2010
Thursday, January 21, 2010
JUST SOLD AND ABOVE LIST PRICE!!
I am proud to announce that I just SOLD 5906 Brackenridge Avenue 21212 for above asking price and with multiple offers in the wings!
Looking to buy/sell? Give me a call and put my expertise to work for you!
Wednesday, January 20, 2010
Upcoming Changes to FHA Loans
Great article that came out today outlining the upcoming changes to FHA loans.
Tuesday, December 29, 2009
Maryland Home Assessments to Fall an Average 19.7%
I thought this was an interesting article from the Baltimore Sun regarding the declining Maryland home assessments.
http://www.baltimoresun.com/news/maryland/bal-md.assessments29dec29,0,2033099.story
http://www.baltimoresun.com/news/maryland/bal-md.assessments29dec29,0,2033099.story
Thursday, December 17, 2009
Thursday, November 26, 2009
Home Prices in 20 U.S. Cities Rise for Fourth Straight Month
Nov. 24 (Bloomberg) -- Home prices in 20 U.S. cities rose for a fourth straight month in September, pointing to improvement in real estate that’s helping the economy emerge from recession.
The S&P/Case-Shiller home-price index increased 0.27 percent from the prior month on a seasonally adjusted basis, after a 1.13 percent rise in August, the group said today in New York. The gauge fell 9.36 percent from September 2008, more than forecast, yet the smallest year-over-year decline since the end of 2007.
Rising home sales, aided by government programs and a decline in mortgage rates this year, have helped stem the slump in property values that precipitated the worst recession since the 1930s. Home buying and consumer spending may still be hampered by higher unemployment, which may prompt more foreclosures.
“The worst of the rate of home price declines has passed but a strong recovery is not expected,” Steven Wood, president of Insight Economics LLC in Danville, California, said before the report.
Economists forecast the 20-city home-price index would decline 9.1 percent from September 2008, after a previously reported 11.32 percent drop in the 12 months ended in August, according to the median forecast of 30 economists in a Bloomberg News survey. Estimates ranged from decreases of 8.3 percent to 10.3 percent. Year-over-year records began in 2001.
Nineteen of the 20 cities in the S&P/Case-Shiller index showed a smaller year-over-year decline than in August.
Compared with the prior month, nine of the 20 areas covered showed an increase while 10 had a decline. The biggest month-to- month gain was in Detroit and Minneapolis, which both increased 1.8 percent.
Existing Home Sales
Existing home sales in October rose to the highest level in more than two years, National Association of Realtors data showed yesterday. The median sales price decreased 7.1 percent from a year earlier, the smallest decline in more than a year.
Housing has been among the industries leading to stabilization in the U.S. economy. To ensure the recovery in housing continues, President Barack Obama and Congress this month extended a tax credit of as much as $8,000 for first-time homebuyers until April 30, from Nov. 30. They also expanded it to include some current owners.
Concern about the looming expiration of the credit earlier this month weighed on builder sentiment and may have been the reason the Mortgage Bankers Association’s purchase applications index fell to a 12-year low in the week ended Nov. 13. The bankers group is scheduled to release last week’s applications report tomorrow.
Fed’s Pianalto
While the erosion of house prices is starting to end, it will take “a considerable amount of time” for the housing market to recover fully, Federal Reserve Bank of Cleveland President Sandra Pianalto said in a speech Nov. 17.
“Though we have seen some signs that the worst may be over, the housing industry is not out of the woods yet,” Pianalto said at a housing conference sponsored by the Ohio Housing Finance Agency and Ohio Capital Corporation for Housing. “Nor is the broader economy.”
Two risks to stabilization in housing are rising unemployment ands foreclosures. Foreclosures on prime mortgages and home loans insured by the Federal Housing Administration rose to 30-year highs in the third quarter, the Mortgage Bankers Association said Nov. 19.
Almost 23 percent of U.S. homeowners in the third quarter owed more on their mortgages than their properties are worth, according to First American Core Logic, a real-estate information company based in Santa Ana, California.
Unemployment Rate
The unemployment rate rose to a 26-year high of 10.2 percent in October, according to the Labor Department. More joblessness may lead to more mortgage defaults, bringing more foreclosed properties onto the market and pushing down prices. Higher unemployment will also limit demand.
D.R. Horton Inc., the second-largest U.S. homebuilder, on Nov. 20 reported a fourth-quarter loss that exceeded analysts’ forecasts and said the housing outlook remains difficult.
“The thing that drives our business the most is job creation,” Chief Executive Officer Donald Tomnitz said on an earnings call for analysts. “If we look at the macro economic environment, it’s not good for us.”
Karl Case, an economist professor at Wellesley College, and Robert Shiller, chief economist at MacroMarkets LLC and a professor at Yale University, created the home-price index based on research from the 1980s.
To contact the reporter on this story: Courtney Schlisserman in Washington at cschlisserma@bloomberg.net Find out more about Bloomberg for iPhone: http://bbiphone.bloomberg.com/iphone
The S&P/Case-Shiller home-price index increased 0.27 percent from the prior month on a seasonally adjusted basis, after a 1.13 percent rise in August, the group said today in New York. The gauge fell 9.36 percent from September 2008, more than forecast, yet the smallest year-over-year decline since the end of 2007.
Rising home sales, aided by government programs and a decline in mortgage rates this year, have helped stem the slump in property values that precipitated the worst recession since the 1930s. Home buying and consumer spending may still be hampered by higher unemployment, which may prompt more foreclosures.
“The worst of the rate of home price declines has passed but a strong recovery is not expected,” Steven Wood, president of Insight Economics LLC in Danville, California, said before the report.
Economists forecast the 20-city home-price index would decline 9.1 percent from September 2008, after a previously reported 11.32 percent drop in the 12 months ended in August, according to the median forecast of 30 economists in a Bloomberg News survey. Estimates ranged from decreases of 8.3 percent to 10.3 percent. Year-over-year records began in 2001.
Nineteen of the 20 cities in the S&P/Case-Shiller index showed a smaller year-over-year decline than in August.
Compared with the prior month, nine of the 20 areas covered showed an increase while 10 had a decline. The biggest month-to- month gain was in Detroit and Minneapolis, which both increased 1.8 percent.
Existing Home Sales
Existing home sales in October rose to the highest level in more than two years, National Association of Realtors data showed yesterday. The median sales price decreased 7.1 percent from a year earlier, the smallest decline in more than a year.
Housing has been among the industries leading to stabilization in the U.S. economy. To ensure the recovery in housing continues, President Barack Obama and Congress this month extended a tax credit of as much as $8,000 for first-time homebuyers until April 30, from Nov. 30. They also expanded it to include some current owners.
Concern about the looming expiration of the credit earlier this month weighed on builder sentiment and may have been the reason the Mortgage Bankers Association’s purchase applications index fell to a 12-year low in the week ended Nov. 13. The bankers group is scheduled to release last week’s applications report tomorrow.
Fed’s Pianalto
While the erosion of house prices is starting to end, it will take “a considerable amount of time” for the housing market to recover fully, Federal Reserve Bank of Cleveland President Sandra Pianalto said in a speech Nov. 17.
“Though we have seen some signs that the worst may be over, the housing industry is not out of the woods yet,” Pianalto said at a housing conference sponsored by the Ohio Housing Finance Agency and Ohio Capital Corporation for Housing. “Nor is the broader economy.”
Two risks to stabilization in housing are rising unemployment ands foreclosures. Foreclosures on prime mortgages and home loans insured by the Federal Housing Administration rose to 30-year highs in the third quarter, the Mortgage Bankers Association said Nov. 19.
Almost 23 percent of U.S. homeowners in the third quarter owed more on their mortgages than their properties are worth, according to First American Core Logic, a real-estate information company based in Santa Ana, California.
Unemployment Rate
The unemployment rate rose to a 26-year high of 10.2 percent in October, according to the Labor Department. More joblessness may lead to more mortgage defaults, bringing more foreclosed properties onto the market and pushing down prices. Higher unemployment will also limit demand.
D.R. Horton Inc., the second-largest U.S. homebuilder, on Nov. 20 reported a fourth-quarter loss that exceeded analysts’ forecasts and said the housing outlook remains difficult.
“The thing that drives our business the most is job creation,” Chief Executive Officer Donald Tomnitz said on an earnings call for analysts. “If we look at the macro economic environment, it’s not good for us.”
Karl Case, an economist professor at Wellesley College, and Robert Shiller, chief economist at MacroMarkets LLC and a professor at Yale University, created the home-price index based on research from the 1980s.
To contact the reporter on this story: Courtney Schlisserman in Washington at cschlisserma@bloomberg.net Find out more about Bloomberg for iPhone: http://bbiphone.bloomberg.com/iphone
Thursday, November 19, 2009
Ritz Carlton Condo Sells for 12.6 Million
Thought I would share this since this is the most expensive condo ever sold in Baltimore! Great News for the Real Estate Market!
http://wjz.com/seenon/inner.harbor.condo.2.1322995.html
http://wjz.com/seenon/inner.harbor.condo.2.1322995.html
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