Where Home Equity is Evaporating the Quickest (Map)
Forbes has compiled a list of 11 real estate markets with home values which are still declining quickly. Here is how they determined these areas:
Using data from Moody's Economy.com and Equifax, we measured the percentage of home equity--or the amount invested in the home, plus or minus any price appreciation or depreciation--relative to the home's current value in the country's 200 largest metropolitan statistical areas. We ranked metros based on data from the first quarter of this year. We also included numbers from 2006 and 2008 for reference.
Here are the markets:
- Modesto, CA
- Cape Coral-Fort Myers, FL
- Phoenix-Mesa-Glenda, AZ
- Las Vegas-Paradise, NV
- Oxnard-Thousand Oaks-Ventura, CA
- Stockton, CA
- Merced, CA
- Reno-Sparks, NV
- Riverside-San Bernadino-Ontario, CA
- Anchorage, AK
- Bremerton-Silverdale, WA
Weekly Roundup
Here are some the more interesting and useful real estate articles and posts that I've come across this week. Did I miss anything?
“Smell” this house! – more MLS laughs [Agent Genius]
Marketing 101 for Real Estate Companies [WAV Group]
Altos: New sellers up asking prices [WSJ] If you burn all of your bridges, you will have no way out of the castle [Agent Genius]
Foreclosure easing in big cities but still spreading [CNNMoney]
Retire to Mexico -- the price is right [CNNMoney] If you do, go to CaboHomes4U.com!
Ending Tax Credit Triggers New-Home Sales Surge in March 2010 [RISMedia]Ten cities may continue struggling regardless of national market [Agent Genius]
The Real Story On Housing [Seeking Alpha]
Can I Get A RETS Feed? [Geek Estate Blog]
Weekly Roundup
Here are some the more interesting and useful real estate articles and posts that I've come across this week. Did I miss anything?
Radar Logic Predicts Low Mortgage Rates after Fed Exits MBS [HousingWire]
NAR did not support or oppose the legislation that was passed in the House. [AgentGenius]
The Next Generation of Mobile Real Estate Marketing – Geofencing [Future of Real Estate Marketing]
Now available: Reach the right audience through remarketing [Inside AdWords - Google]
Online Commercial Real Estate. What the Next Three Years Will Look Like [AgentGenius]
The Commercial Real Estate Pretend and Extend Strategy Continues [HousingWire]
Let a Lender Pay Your Ad Bill! [RealBlogging]
Knock Out Tedious Real Estate Chores with Free Realtor Software [ShowingSuite]
Schwarzenegger Extends the California Homebuyer Tax Credit
Great news for our California partners:
The new bill makes another $100 million available for buyers of new homes and $100 million for those who buy existing homes. According to the Franchise Tax Board, the state allocated that credit to 10,569 applicants after receiving more than 12,000 applications.
The governor said the expanded tax credit will help cities and counties get more properties back on the tax roll and put more people to work.
Schwarzenegger signs homebuyer tax credit bill [San Jose Mercury News]
Weekly Roundup
Here are some the more interesting and useful real estate articles and posts that I've come across this week. Did I miss anything?
NAR Defends Broker Price Opinions for HAFA Valuations [HousingWatch]
More on Layar Technology [MakeUseOf]
The 7 Laws of Negotiation [WiseBread]
The Short Sale Listing and the BPO [AgentGenius]
4 Biggest Lies in Real Estate [CBS MoneyWatch]
Keller Williams is not number 1 and RPR is more connected on Twitter than Trulia [WAV Group]
Jumbos, Loan Mods, and Shorts, Oh My…
Margaret Kelly, CEO of ReMax International, identifies 3 real estate market challenges for realtors to adapt to this year. Some of these trends have been covered here previously.
Kelly sees the 2010 real estate picture being a continuation of 2009's market and urges those who struggled in 2009 to adapt to the market trends. Here are those 3 challenges:
- Short Sales - New rules, which go into effect in April, include better protection for real estate pros and the consumer and will also speed up the time taken by banks to accept or reject offers.
- Loan Modifications - Loan mods are being implemented very slowly right now. but should pick up as employment improves and more households are able to make a modified payment.
- Jumbo Loans - Only in recent months have we seen this loan market open up a little bit, and be ready when it open up more since there are plenty of qualified buyers ready to hop in.
3 Real Estate Market Challenges to Tackle Throughout the Year [RISMedia]
Indications of the Real Estate Recovery [InfoMap]
For all of us visual learners, here is a beautiful map showing recent national real estate sales trends:
Mint Map: Housing Sales [MintLife Blog]
Lets Buy Some Toxic Assets
NPR's Planet Money has a really cool site that tracks a $1,000 investment that the hosts, David Kestenbaum and Chana Joffe-Walt, made in January. They bought a portfolio of toxic mortgages, originating with Countrywide, which were once worth about $75,000. It is really interesting to see this often talked about but little understood piece of the housing meltdown.
Check out more:
Planet Money Tracks Its Very Own Toxic Asset [NPR]
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