Tuesday, October 30, 2012

Home prices rise for fifth month in a row

NEW YORK (CNNMoney) -- The housing market picked up more momentum in August, as the average home price for 20 major cities jumped 0.9%, according to the S&P/Case-Shiller home price index. 


The increase marked the fifth consecutive month of gains for the index with all but one city, Seattle, recording month-over-month price increases. Read More...

Friday, October 26, 2012

Home Prices Up 11 Percent

Home sales dropped a bit over the last month but they remain strong compared to this time last year and price gains remain robust.

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NAR Chief Economist Lawrence Yun released NAR’s September 2012 existing-home sales figures on Friday last week, and they’re down 1.7 percent from August figures, to an annual sales pace of 4.75 million units. That’s still 11 percent above where they were last year, suggesting that the long-term upward trend continues. Read More...

Thursday, October 25, 2012

New-home sales hit 2-year high

NEW YORK (CNNMoney) -- In another sign of a housing market recovery, new-home sales rose in September to the highest level in more than two years, according to a government report released Wednesday.

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Sales sold at an annual rate of 389,000 homes in the month, according to the Census Bureau report, up 5.7% from the 368,000 sales pace in August. The last time sales were at this pace, in April 2010, they were being helped by a short-term home buyer's tax credit. Read More...

Monday, October 22, 2012

Is the Housing Market Finally Rebounding?

Throughout the country, homes that once sat on the market for years are now in demand. According to a survey conducted by housing research firm Metrostudy that covers 65 percent of the country, there are less than 30,000 vacant new homes on the market. In the pre-bubble housing market, there were typically 100,000. Last month, builders constructed new homes at the fastest pace since 2008. 

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These are just a few of the growing number of signs that the five-year-long housing slump might finally be coming to an end.  Read More...

Thursday, October 18, 2012

The 25 Best Places to Retire

Although Santa Fe is not on the list, Albuquerque is. Close enough!

There is much to be said for a place where you can ski in the morning and golf in the afternoon; drink Italian-style espresso at breakfast and eat homemade sopapillas for lunch; see ancient petroglyphs one day and gallery hop the next.

Find YOUR home by searching the Santa Fe New Mexico MLS

Wednesday, October 17, 2012

The Housing Market Is Telling Us The Rest Of The Economy Will Accelerate Within Months

Despite some nagging doubts that have remained over the U.S. housing market, consensus is that housing has turned the corner and is recovering.

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In his latest note titled The Housing Recovery Is For Real, Deutsche Bank's Joseph LaVorgna writes that the "residential housing market is in the very early stages of a durable recovery."

Read more... 

Tuesday, October 16, 2012

Change ahead for Santa Fe housing market

Something has to give in Santa Fe’s housing market.

The September numbers for home sales show that the summer sizzle ended with a bang as there were 164 closed residential sales — the best September since 2006, according to data compiled by Alan Ball of Keller Williams Real Estate. Adding in the total number of sales from July through September brings 451 closed sales in the busiest season, up 35 percent from the same three months of 2011. 

And this comes at a time when inventory has dropped significantly. At the end of September, there were 1,500 active listings countywide, according to the Santa Fe Association of Realtors — a 41 percent drop from a year ago. Read More...

Consumers More Positive on the Economy

Consumers More Positive on the Economy

Friday, October 12, 2012

Foreclosures fall to 5-year low

NEW YORK (CNNMoney) -- The wave of foreclosures hitting the nation's housing market has been much less severe than anticipated, with foreclosure filings at their lowest level in five years last month, according to a report out Thursday.

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Foreclosure filings -- including default notices, scheduled auctions and bank repossessions -- were reported on 180,427 properties in September, a 7% decline from August and down more than 16% from a year earlier, according to a report released Thursday by RealtyTrac, an online marketer of foreclosed properties. That's the lowest number of filings since September 2007. Read More...

Thursday, October 11, 2012

Homeowners Recover 13.5 Percent of Lost Equity Through Q3

Rising home values have brought homeowner equity to its highest level since the third quarter of 2008 and helped lift 1.3 million families above water. Homeowner equity jumped $406 billion, or 5.9 percent, to $7,275 billion in the second quarter of 2012, according to the Obama Administration’s September Housing Scorecard. Read More...

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Wednesday, October 10, 2012

Time Lapse of ABQ Balloon Fiesta

Real Estate Forecast 2013: The Housing Market

The housing market will improve moderately in 2013, but nobody will mistake this for a boom. The gains in activity and prices will be a welcome relief, but will leave many homeowners still underwater.

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The usual way of discussing housing problems is misleading. Foreclosures, short sales, shadow inventory, upside-down mortgages are all symptoms. The fundamental problem that we have is an excess supply of housing units. Read More....

Tuesday, October 09, 2012

How The Housing Recovery Will Take Shape In Coming Months

More good news on the home front.  The latest S&P/Case-Shiller Home Price Index indicates that home prices gained 1.6% in July compared to a year earlier. Every city tracked in the 20-City Composite has seen prices rise for three straight months and 16 of the 20 cities saw year-over-year increases.

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“The positive news in both the monthly and annual rates of change in home prices over the past few months signals a possible recovery in the housing market,” noted David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, in a statement. Read More...

Asking Prices Soar Nationwide

Asking prices posted their largest year-over-year increase since the housing slump began, a monthly report from Trulia shows. Home prices listed on the Trulia web site were up 2.5 percent nationally. When foreclosures are left out, asking prices were up 3.5 percent from year-ago levels.  Read More...

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Thursday, October 04, 2012

Economists: Housing recovery finally here

NEW YORK (CNNMoney) -- It's been a long time coming, but economists surveyed by CNNMoney believe the nation's housing market has finally turned the corner.

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Of the 14 economists who answered questions about home prices in the survey, nine believe that prices have already turned higher or will make that turn later this year. Only three months ago, half of the economists surveyed by CNNMoney believed a turnaround in prices would not take place until 2013 or later. Read More...

Tuesday, October 02, 2012

Housing: Finally on the Path to Recovery

The housing market overcame a listless economy this summer, and several data points on Wednesday show it is finally beginning a long climb out of a deep hole.

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Single-family housing starts hit their highest level in 28 months during August, on a seasonally adjusted annual basis, the Commerce Department said Wednesday. Single-family starts were up by 5.5% from July and 26.8% from one year. Starts have been up from one year ago in 11 straight months—and by double digits in each of the last nine months. Read More...

Monday, October 01, 2012

House Prices: Experts Becoming More Optimistic

Each quarter, Pulsenomics surveys a
“distinguished panel of over 100 economists, investment strategists, and housing market analysts regarding their 4-year expectations for future home prices in the United States.”

5 Reasons to Buy a Home NOW

Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five major reasons purchasers should consider buying:

Supply Is Shrinking

With inventory declining in many regions, finding a home of your dreams may become more difficult going forward. There are buyers in more and more markets surprised that there is no longer a large assortment of houses to choose from. The best homes in the best locations sell first. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy.
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Price Increases Are on the Horizon

Prices will bounce along the bottom this winter. However, projections call for appreciation after that. Several studies and surveys call for price increases over the next few years starting in 2013. One such survey shows that prices will increase over 10% by 2016. Read More...