December 24, 2011
KB Home Sales First Time Buyer Home Sales
Irvington-on-Hudson Real - Ardsley-on-Hudson Real Estate - Wappingers Real Estate
KB Home, the Los Angeles-based homebuilder that targets first-time buyers, this week reported a decline in quarterly profit and gross margins weaker than the company forecast earlier. At the same time, the Los Angeles-based builder said net orders increased 38 percent in the fourth quarter from the same three months last year.
Policy makers are pushing programs aimed at reviving the U.S. housing market. The Obama administration this month started a new version of the federal Home Affordable Refinance Program, or HARP, after the original plan helped less than a quarter of the people targeted to lock in lower mortgage rates.
Federal Reserve officials reiterated at a meeting this month that they will keep their benchmark interest rate near zero until at least mid-2013. The central bank in September decided to reinvest maturing housing debt into new mortgage-backed securities instead of Treasuries.
Mexico Travel 07:29 AM | Mexico Travel
New Home Sales November 2011 USA
Valhalla Real Estate - Briarcliff Manor Real Estate - Hastings on Hudson Real Estate
Sales of new U.S. homes rose in November to a seven-month high, adding to evidence of stabilization in the housing market. Purchases of single-family properties increased 1.6 percent to a 315,000 annual pace, figures from the Commerce Department showed today in Washington. The gain pushed the number of new homes on the market to a record low.
The industry that precipitated the 18-month recession that ended in June 2009 is on the mend as construction picks up, builder confidence improves and inventories of existing homes decline. At the same time, another wave of foreclosures may weigh on real estate values next year.
“All of the housing numbers have looked a lot better recently,” said Mark Vitner, a senior economist at Wells Fargo Securities LLC in Charlotte, North Carolina. “Things aren’t getting any worse now and that’s an improvement.”
The November pace matched the median of 73 economists’ projections in a Bloomberg News survey. Estimates ranged from 298,000 to 350,000. The government revised October demand to a 310,000 rate from a previously reported 307,000.
Stocks held gains after the report, with the Standard & Poor’s 500 Index climbing 0.4 percent to 1,258.71 at 10:14 a.m. in New York. The yield on the benchmark 10-year Treasury note rose to 2.01 percent from 1.95 percent late yesterday.
Separate figures today showed personal spending rose less than forecast and an increase in orders for big-ticket items. Purchases rose 0.1 percent for a second month, according to the Commerce Department. Incomes also grew 0.1 percent, the weakest in three months, after a 0.4 percent rise in October.
Factory Orders - Orders for durable goods jumped 3.8 percent in November, led by a surge in bookings for aircraft, the agency also said. Demand for business equipment dropped 1.2 percent in November, the most since January.
The increase in new-home purchases was paced by a 12.9 percent jump in the South and a 7.5 percent gain in the Midwest Demand plunged 26.3 percent in the Northeast to the lowest on record. Sales slumped 16.9 percent in the West.
The median price of a new house purchased last month fell 2.5 percent from November 2010 to $214,100, the cheapest in a year, today’s report showed.
The supply of homes at the current sales rate dropped to 6 months’ worth, the lowest since March 2006, from 6.2 months in October. There were 158,000 new houses on the market at the end of last month, the fewest since record-keeping began in 1963.
Weakest Year - Still, 2011 may surpass last year as the weakest ever for new-home sales. Demand is on pace to reach 304,000 this year, less than the 323,000 in 2010 that was the lowest since data- keeping began, according to Bloomberg calculations.
Sales of previously owned homes, which make up about 94 percent of the market, rose 4 percent to a 4.42 million annual pace, the most since January, the National Association of Realtors said this week. The group revised down figures going back to 2007 by an average 14 percent, putting them more in line with other measures of demand.
New-home sales, which are tabulated when contracts are signed, have lost their ability to forecast the broader market as demand shifts to previously owned houses. Purchases of existing houses are calculated when a deal closes about a month or two later.
Builders increased work on new projects last month. Housing starts rose 9.3 percent to a 685,000 rate in November, the fastest pace since April 2010, Commerce Department data show. That compares with last year’s tally of 587,000, the second- fewest on record after 2009’s record low of 554,000.
Mexico Travel 07:19 AM | Mexico Travel
Existing Home Sales November 2011
Bergen County NJ Real Estate - Ossining Real Estate - Ardsley Real Estate - Sales of existing homes in the United States rose in November to a 10-month high, showing that demand may be starting to stabilize after a plunge over the past four years that was steeper than previously calculated.
Purchases climbed 4 percent to a 4.42 million annual pace, the most since January, the National Association of Realtors said Wednesday in Washington. The group revised down figures going back to 2007 by an average 14 percent, putting them more in line with other measures of demand.
"Perhaps signs of life are increasing for the housing market," said Ellen Zentner, a senior U.S. economist at Nomura Securities International Inc. in New York, who forecast a sales rate of 4.4 million for last month. "Housing is finally not going to be a drag on economic growth in 2012. That's not to say that risks don't abound. We know that there's a substantial shadow inventory of distressed properties that we're still waiting to come onto the market."
Housing, which helped trigger the 18-month recession that began in December 2007 as subprime borrowers defaulted, may be steadying as builder confidence improves and construction picks up. The National Association of Realtors revisions also reduced the number of unsold houses on the market, pushing inventory last month to the lowest level in six years and indicating there may be less pressure on property values in coming years even as more foreclosures loom.
The median estimate of 71 economists surveyed by Bloomberg News called for a 5.05 million pace in November existing home sales. Forecasts ranged from 4.38 million to 5.25 million, a wider-than-usual range because some took into account assumptions for the benchmark revisions and others didn't. October's reading was revised down to a 4.25 million rate from a previous estimate of 4.97 million, reflecting the NAR's benchmark updates.
Total purchases were revised to 4.19 million for 2010, down 15 percent from a prior estimate of 4.91 million. Sales were trimmed by 16 percent for 2009, by 16 percent for 2008 and by 11 percent for 2007.
"Before the revisions, things were bad, now they are even worse," Lawrence Yun, the group's chief economist, said in a news conference Wednesday as the figures were released.
Figures from other trackers of home sales showed a slower pace of purchases compared with the association, prompting the agents' group to revisit their data. CoreLogic Inc., a real estate analytics company, released a report in February showing that 3.3 million existing homes were sold in 2010, less than the 4.91 million initially tallied by NAR.
CoreLogic, based in Santa Ana, monitors sales figures through property records at local courthouses, while NAR follows sales through the multiple-listing services used by real estate agents. The property-deed records contain "huge statistical noise," said Yun, making CoreLogic's numbers too low.
NAR tallies in recent years were overstated because the consolidation of multiple listing services caused distortions in the data, according to Yun. He said overestimates of direct sales by owners and home builders' use of the listing services to sell new homes also helped inflate the data.
There were comparable downward revisions to inventory, and median prices were little changed from prior estimates, the report showed. That suggests the decline in property values from the 2006 peak has done less to spur demand, said Michelle Meyer, a senior U.S. economist at Bank of America Corp. in New York.
Mexico Travel 07:11 AM | Mexico Travel
November 09, 2006
Latino Real Estate Market Inland Empire
Hispanic Incomes Inland Empire Real Estate - Hispanic Home Owners Inland Empire Real Estate - Hispanic Home Buyers Inland Empire Real Estate - Inland Empire Spanish Real Estate Advertising
Mexico Travel 10:54 PM | Mexico Travel
May 08, 2006
Mazatlan Mexico Real Estate
Collateral International has 10 years' experience lending in Mexico. Loans are for 10, 15 or 20 years at FIXED interest rates. Their minimum loan is $100,000 US and the maximum is $1,400,000 US. They will lend (based on several factors) up to 80% of the purchase price. Rates will depend on your credit score, length of the term, and your down payment. They are WAY under Mexican bank rates, from as low as 6.5% to as high as 8.125%. Closing costs run from 7 to 10% of the purchase price, but include everything. Loan fees, bank trust fees, title search, title insurance and escrow. In other words, everything. Just click on their link above and you are on your way!
Wall Street Associates has 65 years of loan experience in the US and is now doing loans here in Mexico. They offer fixed rate loans with attractive interest rates and are also offering loans for lot acquisition here now. Home and condo loans at 7.9% and up to 20 years terms! Home loans are for 10, 15 and 20 years with 30% down. They can even do loans under their $100,000 minimum, as a loan in pesos, for 20 years at 11.99% Just click on their link and you can go through their website and even download the forms you will need to fill out to get started! The loan fees vary from 6 to 7% and include the bank trust fees, title search, etc.
Mexico Travel 05:55 PM | Mexico Travel
Cabo San Lucas Real Estate
Cabo San Lucas Real Estate - Over the past 22 years Cabo San Lucas has gone from a sleepy fishing village to a world-renowned tourist destination. Cabo San Lucas, San Jose del Cabo, the Tourist Corridor in between and the East Cape are all part of the municipality of Los Cabos (the capes) in Baja California Sur, Mexico.
Cabo Real is a 2,800-acre resort that spans miles of secluded beaches, unspoiled desert and tropical settings. A golfer’s dream, Cabo Real has two challenging courses to fill perfect Los Cabos days. The Robert Trent Jones II classically designed, championship golf course with three oceanfront holes, is a magnificent course; and the newly finished Jack Nicklaus designed Eldorado golf course combines desert and oceanfront holes to make this a great addition. Real Estate opportunities abound in this classic golf resort development with available options including condominiums, home sites or custom homes. Cabo real also has its own ecological reserve, Desert Park.
Casa del Mar Condominiums are nestled around the Casa del Mar Hotel and with 173 luxurious one, two and three-bedroom floor plans, there is something suitable for everyone. Overlooking the Sea of Cortez, these low-rise condominiums all have terraces facing awesome ocean views. Amenities in-clude four lighted tennis courts, a paddle-tennis court and six swimming pools, two with swim up bars. Phase one was completed in 1992 and has been sold out for quite some time but there are several units available on the resale market.
Mexico Travel 05:51 PM | Mexico Travel
January 06, 2006
Real Estate Broker Careers
The real estate industry—and the many talented and dedicated professionals who make it the wonderful business it truly is—has enjoyed some of the most prosperous times in its history these past few years. Yet, herein lies the paradox—it is becoming harder than ever for brokers not only to grow and thrive, but to survive.
managers within the same company spend inordinate amounts of time, money and other resources to do everything they can to differentiate their offices from other company offices. In other words, building a consistent brand and unified experience for consumers, hasn’t been top of mind. A Cultural Change
Mexico Travel 01:55 AM | Mexico Travel
December 28, 2005
Real Estate Internet Marketing
Internet Marketing - According to The National Association of Realtors more than 70% of all home buyers start their search on the Internet before contacting a real estate agent. Require any agent you list your home with to post a virtual tour and a minimum of eight indoor and outdoor pictures on the Internet. Important to provide CDs of your home for open houses. Business Real Estate
Mexico Travel 07:01 AM | Mexico Travel
December 24, 2005
Real Estate Trends
Condominiums - U.S. cities are trying to piggyback on the nation's new taste for condominiums and urban living. Atlanta, Denver, Los Angeles and others have encouraged developers to recycle old downtown buildings into chic residences while continuing to promote themselves as prime office locations.
These areas mainly draw childless couples, couples with grown children, gays and wealthy, single professionals. But no city comes close to Dallas in residential zeal. Dallas, a city of 1.2 million, has given out some $160 million in grants and tax abatements with the goal of creating a residential haven for those seeking to escape the hundreds of square miles of sprawl that surround it.
Mexico Travel 09:58 PM | Mexico Travel
Manhattan Real Estate
In New York, a report prepared by appraisal company Miller Samuel Inc. on behalf of real estate firm Prudential Douglas Elliman showed that average Manhattan apartment prices fell nearly 13% in the third quarter 2005 to $1.15 million from $1.32 million in the second quarter.
Mexico Travel 09:51 PM | Mexico Travel