Realty World - Success Plans, Inc. » real estate market http://realtyworldsuccess.com Serving you since 1986 Fri, 03 Feb 2012 19:46:00 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 Mixed messages http://jefftung.net/2011/11/04/mixed-messages/ http://jefftung.net/2011/11/04/mixed-messages/#comments Fri, 04 Nov 2011 23:46:00 +0000 Jeff Tung http://realtyworldsuccess.com/2011/11/04/mixed-messages/ In the past few weeks the real estate market showed multiple signs of a rebound of some sort.  In 20 metropolitan areas prices rose 0.2% in August but were still down 3.8% year over year.  This may all change soon.  In September, pending sales were down 4.6%.  Could this be another beginning of a triple dip?  With Freddie Mac requesting for another $6 billion of your tax money and holding about 60,000 REOs from the market, which will take approx. 15 years to sell off, I don’t think our country’s rebound in a lot of areas will happen anytime soon and hope that the triple dip is not too severe.
Some help is on the way.  The Federal Housing Financing Agency is trying to help change the market.  They are making a few changes to the Home Affordable Refinancing Program to attract more borrowers and stimulate the mortgage industry and helping more homeowners.  The National Association of REALTORS are also concerned with the state of our real estate market and has a 5 point plan that could get us out of this triple dip situation and stabilize the market.  With any change, it will take a while for the changes to make a difference.  Let’s hope that it won’t be too long.

]]> http://jefftung.net/2011/11/04/mixed-messages/feed/ 2 California sales in 2012 http://jefftung.net/2011/09/26/california-sales-in-2012/ http://jefftung.net/2011/09/26/california-sales-in-2012/#comments Mon, 26 Sep 2011 22:39:00 +0000 Jeff Tung http://realtyworldsuccess.com/2011/09/26/california-sales-in-2012/ California home sales are looking at a 1% increase in 2012 and the sales price may also increase 1.7%.   Employment , low interest rates and an increase of affordable homes are going to fuel the sales activity and help get the recovery going.  “It will take as long as five years for the state’s inventory of foreclosed properties to be absorbed” according to  Leslie Appleton-Young, chief economist for the California Association of Realtors. 
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Realtors forecast ‘tepid’ housing market in 2012 (lansner.ocregister.com)
CA. home sales, median prices, tumble again (lansner.ocregister.com)
Calif. home sales jump may not last (lansner.ocregister.com)
Home sales, prices fall in Bay Area (sfgate.com)
Home sales, prices fall in Bay Area (sfgate.com)
California Students Could Succeed Again With School Choice (thegabriellahoffman.com)
Number of short sales on the rise (usatoday.com)

]]> http://jefftung.net/2011/09/26/california-sales-in-2012/feed/ 0 San Francisco healthy? http://jefftung.net/2011/09/22/san-francisco-healthy/ http://jefftung.net/2011/09/22/san-francisco-healthy/#comments Thu, 22 Sep 2011 22:28:00 +0000 Jeff Tung http://realtyworldsuccess.com/2011/09/22/san-francisco-healthy/ As we are getting into the last quarter of the year, San Francisco and the Bay Area have gone through a lot of changes.  They could be good or bad depending on how you look at it.  As I have mentioned on another post, what will the city be like in the next 5 years?  I believe it should be at a point of recovery.  We’ll see.

]]> http://jefftung.net/2011/09/22/san-francisco-healthy/feed/ 0 How is your house doing? http://jefftung.net/2011/09/17/how-is-your-house-doing/ http://jefftung.net/2011/09/17/how-is-your-house-doing/#comments Sun, 18 Sep 2011 03:03:00 +0000 Jeff Tung http://realtyworldsuccess.com/2011/09/17/how-is-your-house-doing/ In many areas in the nation, there are areas that are cheaper to buy a home then to rent.  You now can find a home for $100,000 in New York and through out the country including Hawaii. 
It may seem like some areas have not been affected by the economy but that is not true.   The properties that sell really quickly are usually the cream of the neighborhood.   
The Bay Area has been hit as well but not as bad as other areas.  It will be a while before we get out of this mess.
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]]> http://jefftung.net/2011/09/17/how-is-your-house-doing/feed/ 2 How much is your home today? http://jefftung.net/2011/09/09/how-much-is-your-home-today/ http://jefftung.net/2011/09/09/how-much-is-your-home-today/#comments Sat, 10 Sep 2011 02:42:00 +0000 Jeff Tung http://realtyworldsuccess.com/2011/09/09/how-much-is-your-home-today/ The economy has driven our home values down and there is no end in site.  Many areas in the nation has experienced major price reductions.  Not all areas have been hit but California has 6 areas that had the largest drop in value out of the top 10 areas nationwide.   The prices have decreased more then 60% from 5 years ago.  This situation will not get any better anytime soon due to the 1,000,000+ foreclosures that the banks are holding this year and another 1,000.000+ foreclosures in next 2 years.  It will take a few years to sell off all of the phantom inventory before any appreciation can be realized in these areas.    
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Home Prices in U.S. Fell 5.9% in Second Quarter, FHFA Says(businessweek.com)
Foreclosures of expensive homes take longer(usatoday.com)

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