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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 Outlook: Encouraging News
Posted on 05/16/2008 05:06:40 | Link | Post Comment
Mesa buyers camp out for deals on new homes
from the East Valley Tribune, reports that a couple of dozen homebuyers are camping out at the Mountain Bridge development to be first in line to buy lots and homes that go on sale Saturday morning. Developer of the property, Blandford Homes, is offering one-time pricing to 75 to 100 buyers on a first-come, first-served basis. Some of the buyers rented RVs for overnight sleeping, while others slept in their SUVs. The builder also contributed catered meals, portable toilets, and awnings and tents for shade. Valley housing analyst R.L. Brown said the camp-out is proof that new homes will sell even in a depressed market if other conditions are right. He added, "The whole thing is always about location. What the market is saying is, bring the right product at the right price and right location, and people will stand in line for it."
Real Estate Outlook: Encouraging News
from RealtyTimes.com, reports that despite all the news about gas prices and recession, there are more than a few encouraging signs in the national economy that aren't getting the attention they deserve. For example, worker productivity is up 2.2% last quarter, that was on top of a 1.8% gain the quarter before. This is significant for housing and real estate because rising productivity generally points to lower inflation and lower inflation fears help keep interest rates low. Mortgage rates continue to hover near record lows as 30-year fixed-rate loans dropped again last week to 5.9%. More encouraging news is the number of consumers applying for mortgages to purchase homes jumped up 12.1%, according to the Mortgage Bankers. Also, applications for FHA mortgages were up by 13.2%. This surge in home purchase applications could point to more home sales in the months ahead.
Commercial Real Estate: Showing Signs Of Life
Michigan: “Despite a slow market for commercial and industrial properties, some real estate professionals say Q1’08 is an indicator this may be a good year after all. Michael J. Keenan, owner of DeGroat Keenan Commercial in Saginaw. "The first quarter of '08 has been a significant upturn for us." DeGroat said commercial properties are moving well in Kochville Township, north of Fashion Square Mall… adding that he is closing deals on other commercial properties that have been vacant for several months, including one that was vacant for two years.” (MLive, May 14th)
from the East Valley Tribune, reports that a couple of dozen homebuyers are camping out at the Mountain Bridge development to be first in line to buy lots and homes that go on sale Saturday morning. Developer of the property, Blandford Homes, is offering one-time pricing to 75 to 100 buyers on a first-come, first-served basis. Some of the buyers rented RVs for overnight sleeping, while others slept in their SUVs. The builder also contributed catered meals, portable toilets, and awnings and tents for shade. Valley housing analyst R.L. Brown said the camp-out is proof that new homes will sell even in a depressed market if other conditions are right. He added, "The whole thing is always about location. What the market is saying is, bring the right product at the right price and right location, and people will stand in line for it."
Real Estate Outlook: Encouraging News
from RealtyTimes.com, reports that despite all the news about gas prices and recession, there are more than a few encouraging signs in the national economy that aren't getting the attention they deserve. For example, worker productivity is up 2.2% last quarter, that was on top of a 1.8% gain the quarter before. This is significant for housing and real estate because rising productivity generally points to lower inflation and lower inflation fears help keep interest rates low. Mortgage rates continue to hover near record lows as 30-year fixed-rate loans dropped again last week to 5.9%. More encouraging news is the number of consumers applying for mortgages to purchase homes jumped up 12.1%, according to the Mortgage Bankers. Also, applications for FHA mortgages were up by 13.2%. This surge in home purchase applications could point to more home sales in the months ahead.
Commercial Real Estate: Showing Signs Of Life
Michigan: “Despite a slow market for commercial and industrial properties, some real estate professionals say Q1’08 is an indicator this may be a good year after all. Michael J. Keenan, owner of DeGroat Keenan Commercial in Saginaw. "The first quarter of '08 has been a significant upturn for us." DeGroat said commercial properties are moving well in Kochville Township, north of Fashion Square Mall… adding that he is closing deals on other commercial properties that have been vacant for several months, including one that was vacant for two years.” (MLive, May 14th)
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