Property prices in the USA are continuing to fall. Currently, 10% of all mortgages in the US are in arrears – either in foreclosure or the process of. Many states are implementing forclosure delays, preventing banks from continuing the process for a period of time, but all this does is delay the bust. Many smaller construction companies are facing foreclosure on their partially complete, or already completed projects, and with prices continuing to fall, these are now beginning to join the ranks of the foreclosed.
Carlton Group (“Carlton”) Chairman Howard L. Michaels announced that Carlton has been appointed exclusive sealed bid advisor by two large financial institutions to sell over $300 million of loans secured predominantly by prime development land and properties that are currently in various stages of development. The institutions are both seeking bids by December 3, 2008. Bidder registrations and access to due diligence material are available by calling 866-800-5111.
Condo.com announced the recent addition of Fernando De Los Reyes as their new Chief Marketing Officer joining a rapidly growing team. Fernando is responsible for both traditional and web 2.0 interactive marketing, advertising, brand management, public relations, media and business development. Prior to joining Condo.com, Fernando was Chief Marketing Officer for Fathead.com/Fathead LLC, a Quicken Loans company.
More on Condo.Com Hires Former Disney And Nike Marketing Executive
Discussion forums can be an excellent way of determining the true state of a market. Unfortunately, many so-called “discussion forums,” are populated almost entirely by real estate agents – and do not give a true picture. One of the research tools we use to sift through the sales pitches when discussing prices are forums. This is a brief list of forums that are populated by genuine people talking about the “for real,” situations they find themselves in. If there is a market I have missed that You are interested in, please drop me a line and I will see if I have one on my collection – Contact IPI.
For the 25th consecutive month in a row, US house prices saw a drop in August. 10 Major US markets have now seen a record 17.7 percent average fall in the last year, with some markets falling more than 30 percent for the year. Phoenix, Las Vegas, Miami and Los Angeles topped the list of losers, and no city on the S&P/Case Shiller Home Price 20-city Index saw a price increase over the last year.
Upon retiring fourteen years ago, we spent a great deal of time traveling the world in search for the perfect retirement haven. Eleven years ago we selected Puerto Vallarta, Mexico as the location for our main retirement residence.
More on Puerto Vallarta & Lake Tahoe – The Best of Both Worlds?
Condo.com, the World’s Largest Condo Marketplace, announced today it has formed a partnership with Hotels.com, the leading global travel portal. This partnership enables Condo.com to provide its customers with travel resources and vacations from the most recognized name in online travel and leisure.
The Federal Reserve just released its latest figures on credit standards and credit demand. The “Senior Loan Officer Opinion Survey on Bank Lending Practices,” in the words of the Fed, is designed to shed some light on “changes in the standards and terms of the banks’ lending and the state of business and household demand for loans.”
More on Federal Reserve bank officer survey shows standards continue to tighten
Another example of the lack of awareness amongst the US general population is shown in the latest Coldwell Banker Broker survey
First-time home buyers are primarily concerned with affordability when choosing a new home, but their expectations may be too high relative to their current financial buying power, according to a recent Coldwell Banker® survey conducted among its brokers. While nearly half of the Coldwell Banker broker respondents reported that affordability was the No. 1 concern for this group, 81 percent said today’s first-time home buyers consider move-in conditions to be very important when searching for homes. In contrast, only 7 percent are looking to purchase “fixer-upper” homes that they could buy at a lower price and renovate themselves.
More on Latest Coldwell Banker Survey Suggests Denial is Alive and Well in the US Housing Market
The number of U.S. homeowners swept up in the housing crisis rose further last month, with foreclosure filings up nearly 50% from a year earlier, Realty Trac, a foreclosure listing company said last Friday
