From the monthly archives:
March 2010
by Tayeb Realty GroupMarch 24, 2010
Housing Market News Update
Developers are rapidly switching from age-restricted communities to those that invite a broader range of residents. Prior to the housing meltdown, communities aimed at people older than 55 were springing up all over. But in the last couple of years, enclaves for the elderly have diminished in popularity and even long-time senior-citizen communities like Sun [...]
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by John TayebMarch 23, 2010
Foreclosures
Existing-home sales declined slightly in February, with modest gains in the Northeast and Midwest offset by softer sales in the South and West, according to the National Association of REALTORS®. Existing-home sales, which are finalized transactions that include single-family, townhomes, condominiums, and co-ops, slipped 0.6 percent nationally to a seasonally adjusted annual rate of 5.02 [...]
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by Tayeb Realty GroupMarch 23, 2010
Housing Market News Update
Money Magazine has released its latest home-price projections for the country’s largest metropolitan areas. Here are the 10 cities where it believes home prices will rise the most in the next year, and the 10 where it foresees the most substantial declines: Where prices will rise: • Santa Rosa, Calif., 6.0 percent • Cheyenne, Wyo., [...]
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by Tayeb Realty GroupMarch 22, 2010
Housing Market News Update
Flood insurance is still being kicked around Congress like a football. The House voted Wednesday to extend the federal program through the end of April; the Senate is likely to consider the temporary extension before it recesses next week. Current policyholders would continue to be covered even if the Senate doesn’t vote on the extension, [...]
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by Tayeb Realty GroupMarch 22, 2010
commercial real estate
If you aren’t making as much money as you want in the conventional real estate world, consider selling real estate in the make-believe world. Elaine Politis and partner Ariel Gonzalez say they are earning six figures annually from Beach Front Realty Inc., a business they have run since 2005 in Second Life. They told CNNMoney.com [...]
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by John TayebMarch 22, 2010
commercial real estate
Former Federal Reserve Chair Alan Greenspan, whose policies have been blamed for the economic meltdown of 2008, will present a paper at the Brookings Institution today saying that the low interest rates during his tenure didn’t cause the housing bubble. “To my knowledge, that lowering of the federal funds rate nearly a decade ago was [...]
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by Tayeb Realty GroupMarch 21, 2010
commercial real estate
Interest on 30-year fixed mortgages averaged 4.96 percent this week, barely up from 4.95 percent a week ago, while 15-year rates nudged up to 4.33 percent from 4.32 percent, Freddie Mac reported. Freddie Mac chief economist Frank Nothaft said the virtually unchanged interest on fixed-rate mortgages was the result of the effects of recent snow [...]
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by John TayebMarch 21, 2010
Housing Market News Update
About one in every six Americans lives in a multi-generational household, up 30 percent since 2000, according to U.S. Census figures and a study released Thursday by the Pew Research Center. The study found that the economy is a primary driver of the trend, but there are other factors as well. Aging Americans are opting [...]
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by Tayeb Realty GroupMarch 21, 2010
Foreclosures
The inventory of foreclosed homes that banks are sitting on is rising, threatening to push home prices down further in some parts of the country. Analysts at Barclays Capital estimated that banks and mortgage investors held about 645,800 foreclosed homes in January, up 4.6 percent from December. That is down significantly from the peak of [...]
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by Tayeb Realty GroupMarch 18, 2010
Housing Market News Update
In major cities like New York, fear of an infestation of bedbugs is becoming a serious consideration among buyers. Jerry Feeney, an attorney who writes a weekly column on real estate legal issues for the New York Daily News,says potential buyers have begun asking lawyers to insert clauses in contracts guaranteeing that there are no [...]
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