| Search by tag or site | Login to my blog ? Start my own blog |
 |
Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
Real Estate News and Housing Bubble Blogs
Posted on 10/24/2006 09:16 AM | Link | Post Comment
Huge supply of houses keeping prices down
from the Arizona Republic, reports that most Valley neighborhoods saw home values peak in May or June, and that housing prices dipped in more than half of all zip codes in Metro Phoenix in July and August, according to a new study by the Arizona Republic. Homes near central Phoenix, Tempe and South Scottsdale are holding their value or gaining, but in the outlying areas, prices have dipped. "Most people who bought on the fringes last year are likely going to have to hold on for at least three years or sell for a loss," said real estate agent Margie O'Campo de Castillo of Phoenix-based Arizona Dream Realty. The Valley's price dips are a result of supply and demand. There are 45,000 homes on the market across the Valley right now, compared with fewer than 20,000 last October. Housing analysts say when the Valley's supply of homes for sale drops below 35,000, the market will have rebounded or be close to it. The median used-home price fell to $256,900 last month after peaking in June at $267,000. "The Valley's housing market is returning to normal. After last year's inflated home price run-ups, that means many areas will see prices drop," said Jay Butler, director of the Arizona Real Estate Center at ASU. "Some areas of the Valley will feel the correction more than others," he added.
Cities aim to boost impact fees
from the Arizona Republic, reports that several of the Valley's fast-growing communities are raising impact fees that developers pay to municipalities to create parks, water and sewer lines, libraries and police and fire stations. Among the highest fees are those in North Phoenix, where they are increasing to $26,000 per home. Surprise, Goodyear and Mesa are also gearing up to charge more to cover the increases in costs they have to pay to deliver city services to their newest residents. Rates in Goodyear and Surprise are more than doubling to about $21,000 from about $9,000 per home. Mesa is looking to increase its impact fee from $5,000 to $10,000. The rates vary across the Valley and are lower in areas where infrastructure is already in place.
From Marin Real Estate Bubble blog: Schadenfreude - It's the Word du Jour or What's For Dinner
Dr. Housing Bubble - How I learned to Love SoCal : Income vs. Housing: When Did Housing Become Gold?
Don't Mess Up In Here...! from Noah at UrbanDigs.com in NYC
Insider Q&A: The escrow business
U.S. Home Prices May Fall But Drops Will Be Mild
U.S. housing prices may decline 'a little' within the next year but any such decrease is likely to be small and inconsistent with a bursting housing bubble, according to a paper written by a Federal Reserve economist. Plus see our report showing that home inventories continue to rise in metros across the U.S.
Builders to buyers: Take this house, please! from CNNMoney
The once-hot housing market's about-face has created amazing incentives for buyers. What are you waiting for?
from the Arizona Republic, reports that most Valley neighborhoods saw home values peak in May or June, and that housing prices dipped in more than half of all zip codes in Metro Phoenix in July and August, according to a new study by the Arizona Republic. Homes near central Phoenix, Tempe and South Scottsdale are holding their value or gaining, but in the outlying areas, prices have dipped. "Most people who bought on the fringes last year are likely going to have to hold on for at least three years or sell for a loss," said real estate agent Margie O'Campo de Castillo of Phoenix-based Arizona Dream Realty. The Valley's price dips are a result of supply and demand. There are 45,000 homes on the market across the Valley right now, compared with fewer than 20,000 last October. Housing analysts say when the Valley's supply of homes for sale drops below 35,000, the market will have rebounded or be close to it. The median used-home price fell to $256,900 last month after peaking in June at $267,000. "The Valley's housing market is returning to normal. After last year's inflated home price run-ups, that means many areas will see prices drop," said Jay Butler, director of the Arizona Real Estate Center at ASU. "Some areas of the Valley will feel the correction more than others," he added.
Cities aim to boost impact fees
from the Arizona Republic, reports that several of the Valley's fast-growing communities are raising impact fees that developers pay to municipalities to create parks, water and sewer lines, libraries and police and fire stations. Among the highest fees are those in North Phoenix, where they are increasing to $26,000 per home. Surprise, Goodyear and Mesa are also gearing up to charge more to cover the increases in costs they have to pay to deliver city services to their newest residents. Rates in Goodyear and Surprise are more than doubling to about $21,000 from about $9,000 per home. Mesa is looking to increase its impact fee from $5,000 to $10,000. The rates vary across the Valley and are lower in areas where infrastructure is already in place.
From Marin Real Estate Bubble blog: Schadenfreude - It's the Word du Jour or What's For Dinner
Dr. Housing Bubble - How I learned to Love SoCal : Income vs. Housing: When Did Housing Become Gold?
Don't Mess Up In Here...! from Noah at UrbanDigs.com in NYC
Insider Q&A: The escrow business
U.S. Home Prices May Fall But Drops Will Be Mild
U.S. housing prices may decline 'a little' within the next year but any such decrease is likely to be small and inconsistent with a bursting housing bubble, according to a paper written by a Federal Reserve economist. Plus see our report showing that home inventories continue to rise in metros across the U.S.
Builders to buyers: Take this house, please! from CNNMoney
The once-hot housing market's about-face has created amazing incentives for buyers. What are you waiting for?
- How Housing Rescue Bill Can Help You
- Are The Financials Suddenly Cheap? Part III
- Canslim.net Morning Comment And Links (for Traders)
- Are Financials Suddenly Cheap? Part II
- Are Financials Suddenly Cheap?
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
- January 2008
- December 2007
- November 2007
- October 2007
- September 2007
- August 2007
- July 2007
- June 2007
- May 2007
- April 2007
- March 2007
- February 2007
- January 2007
- December 2006
- November 2006
- October 2006
- September 2006
- August 2006
- July 2006
- Millionaire Now!
- The 7 Steps to Millionaire Now!
- Build Your Financial Plan
- RETIRE RICH: Survival Guide
- ASSET ALLOCATION MODEL
- THE BIG ROLLOVER IS HERE
- THE END OF THE GRAND SUPERCYCLE?
Examples
Morpheus Trading - Mon Jul 21, 2008 08:33AM
NOTE: Please click on the charts below to enlarge them if [read more]
NOTE: Please click on the charts below to enlarge them if [read more]
Morpheus Trading - Mon Jul 21, 2008 08:31AM
NOTE: Please click on the charts below to enlarge them i [read more]
NOTE: Please click on the charts below to enlarge them i [read more]
Millionaire Now! by Larry Nusbaum - Tue Jul 22, 2008 09:23AM
Hedge funds have made billions this year shorting the banks, [read more]
Hedge funds have made billions this year shorting the banks, [read more]
<< My Home | TheMoneyBlogs Home