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Realistbear

Carnage In U S Market - E As Told To Lower Prices

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Boston:

http://business.bostonherald.com/businessN...872&format=text

Coldwell pushes price cuts: Brokers told to pressure house sellers

By Scott Van Voorhis

Thursday, May 11, 2006 - Updated: 08:28 AM EST

The Bay State’s biggest real estate agency has one message for its brokers:
sell, sell, sell
.
Coldwell Banker Residential Brokerage, which controls a network of 3,800 agents across the state, wants brokers to lower prices to match current demand in an aggressive push to spark languid home sales.
Coldwell has begun routinely meeting with sellers whose homes haven’t sold after a month or so, said Mark Lippolt, a top Coldwell Banker executive. Among the items on the agenda: price reductions.

San Diego:

http://www.signonsandiego.com/news/busines...n15default.html

Homeowners feel pinch of adjustable-rate loans

By Emmet Pierce and David Washburn

UNION-TRIBUNE STAFF WRITERS

May 15, 2006

A recent spike in default notices may be a sign that some homeowners are struggling to pay the adjustable-rate mortgages that now dominate lending in San Diego County's residential real estate market, analysts warn.
Notices of default – the first step toward
mortgage foreclosure – jumped 60 percent
in the San Diego region in the first three months of this year, compared with the first quarter of last year, DataQuick Information Systems reported.
DataQuick analyst John Karevoll characterizes the increase, the
largest since 1992
, as “a potential blinking yellow light on the dashboard.”

ARIZONA:

http://www.azcentral.com/arizonarepublic/t...ate0512Z10.html

House listings up, sales lowest in 6 years

May. 12, 2006 12:00 AM

The number of houses sold last month isn't very encouraging.
The Arizona Real Estate Center at Arizona State University said Thursday that although it is common for the number of homes sold in April to be weak, last month had the lowest number of sales since April 2000.
At the same time, the number of single-family homes for sale reached what could be a record of 14,782 last month in the Southeast Valley, according to the Arizona Regional Multiple Listing Service Inc. The MLS said there were only 2,402 single-family homes sold. advertisement
People don't seem to be getting the message that it's a difficult time to sell.

Coming here soon, wuh huh huh huh huh aaaaaaaaaaaaaaaah

:o

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Over 20,000 Brits own holiday villas/condos in Florida. Nothing selling. Real Estate Agents are openly talking abot a 30% + correction. Some small new developments have about 200 properties and 25% of them are for sale, with nothing shifting for 5 to 6 months. Many of these properties cost $1400 a month to keep empty (excluding mortgage). Many Brits MEWD the UK 3 bed semi to buy the Florida 5 bed detached, Oh dear!

Pablo Silver or Lead?

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Sentiment turning ugly:

http://money.iwon.com/jsp/nw/nwdt_rt_top.j...ias/money/cm/nw

US homebuilder sentiment sinks in May - NAHB

Monday May 15, 1:10 PM EDT
NEW YORK (Reuters) - U.S. homebuilder sentiment slumped in May to its lowest since mid-1995 on rising mortgage rates, declining affordability and the retreat of speculators, the National Association of Home Builders said on Monday.
The NAHB/Wells Fargo Housing Market index fell six points to 45 in May from an upwardly revised 51 in April, the group said.
Economists polled by Reuters had predicted the index would drop to 49, which would have been the index's lowest level since a downturn immediately after the September 11, 2001 attacks on the World Trade Center and Pentagon.

I think it would be fair to say that the HPC has started in the US. If memory serves me correctly we led the Great Crash of 1989-96 by about 6 months or was it the other way around??

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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