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Most Recent Entries
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Latest news on the Fed |
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Market News
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By Allyson Chambers on
9/10/2007 11:58 AM
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Fed: Credit crunch effects limited
WASHINGTON – Sept. 7, 2007 – A painful credit crunch is taking its worst toll on the already ailing housing market, while its impact on the rest of the economy so far seems limited, the Federal Reserve reported Wednesday.
Both Wall Street and Main Street have anxiously awaited the Fed’s survey of business conditions for clues about what the central bank will do regarding interest rates on Sept. 18, its next regularly scheduled meeting.
Economists increasingly believe the Fed will lower a key interest rate, now at 5.25 percent, by at least one-quarter of percentage point at that meeting to protect the economy from the credit crisis. The Fed has not lowered this rate in four years.
“Outside of real estate, reports that the turmoil in financial markets had affected economic activity during the survey period were limited,” the Fed’s report said.
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Market News August 2007 |
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Market News
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By Allyson Chambers on
8/13/2007 8:30 AM
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Anxious home builders pile on incentives
NEW YORK – Aug. 10, 2007 – With the housing market looking increasingly frail, home builders and real estate agents are going to new extremes to attract buyers, dangling lavish incentives and slashing prices.
In Boca Raton, Fla., Gordon Homes is offering to pay two years of property taxes and insurance – worth as much as $150,000 on houses priced as high as $2.5 million – for buyers of completed homes at its upscale Azura development. In Richmond, Va., Orleans Homebuilders Inc. is offering “Sizzling Summer Sale Savings” that include as much as $100,000 off the cost of upgrades ranging from granite countertops to a conservatory. And in Medford, Ore., seller Diane Adams, a real estate agent, is offering to pay four months of mortgage payments on the $975,000 house she and her home-builder husband constructed on 20 acres near Crater Lake.
“I’d also negotiate a lower pri ...
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UF survey: Florida’s housing market suffers setback |
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Market News
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By Allyson Chambers on
6/19/2007 11:14 AM
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GAINESVILLE, Fla. – June 19, 2007 – Florida’s housing market, thought to be stabilizing earlier this year, deteriorated in the latest quarterly survey conducted by the University of Florida (UF), a situation likely brought on by uneasiness about lending practices, insurance rates and the state’s property tax structure, according to UF analysts.
“Like the graying skies over the state tainted by drought-driven brush fires, the mood for Florida real estate has grown more somber since January,” says Wayne Archer, director of UF’s Bergstrom Center for Real Estate Studies. “Perhaps the implications of the subprime ‘meltdown’ are creating a disquieting haze; perhaps anxiety over property taxes and high insurance rates are shrouding Florida’s otherwise sunny outlook. In any case, there are few signs of improvement.”
Following the January survey results, Archer advised Florida’s hopeful homebuyers to act immediately in buying single-family residential housing; but that has changed ...
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overall market trend |
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Market News
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By Allyson Chambers on
5/10/2007 12:00 AM
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7 Residential Real Estate Market Trends for 2007
7 Residential Real Estate Market Trends for 2007: How They Impact You and What to Do
The key market trends affecting the real estate market are changes in:
1. Advertising, marketing, and the media's assault on the consumer has lead to a change in consumer's expectations and tolerance levels. Real estate media
exposure led to increased consumer activity.
2. The amount of knowledge required for an agent to be perceived as an expert on all areas of real estate, and the diversity in the market, has lead to specialization.
3. The need for Realtors® to identify a specific target market otherwise their marketing will not be effective and they will waste a lot of money.
4. Developing teams that lead to high productivity.
5. Demographics a ...
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March 2007 |
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Market News
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By Allyson Chambers on
3/1/2007 7:19 AM
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Consumer confidence has been volatile. It is up four points from last year this time.....
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October Market News |
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Market News
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By Allyson Chambers on
10/16/2006 9:30 AM
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Report Date: Fall 2006
Nearest Metro Area: Palm Beach/Miami, FL
Buyer's or Seller's Market: More sellers than buyers
Average Time On Market: More than 120 days
Market Trend: Increasing
Housing Inventory: Good supply, all prices
Average Home Prices: $450,000
Compared To Last Year: Down 0-5%
Prices As % Of Asking Price: 90-95%
Multiple Offers?: No
Greatest Activity: Condos/Townhomes
Housing Hot Spots: There are really no hot spots.
Reasons To Buy/Sell Now: Other
The number of homes on the market has increased from last year. There are many listings expiring unsold.
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September 2006 |
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Market News
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By Allyson Chambers on
9/6/2006 8:05 AM
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Should you sell your home now? Many homes on the market and only a few are selling......
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Market News
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