When will real estate prices begin rising again?

  1. You have chosen to ignore posts from stcmans. Show stcmans's posts

    Re: When will real estate prices begin rising again?

    [QUOTE]What does it mean when I look at home's sale history and the last sale, usually within the past 2-3 years, was for $1?  Does that indicate foreclosure?  Does that indicate the owner passed away and the estate was transferred to the next of kin?  While I only came across this occasionally months and years back, I'd say 3 or 4 out of every 10 homes I look at now have this.
    Posted by 2Foxy[/QUOTE]

    Usually means that the house was transferred to a trust. You can look up the deed and see for yourself at www.masslandrecords.com. Some counties like Norfolk and Bristol have their own sites....
     
  2. You have chosen to ignore posts from RealEstateMaven. Show RealEstateMaven's posts

    The U.S. consumer confidence index jumped 39.2

     U.S. consumer confidence jumped 39.2 

    The U.S. consumer confidence index jumped 39.2 in April the Conference Board reported Tuesday. The gain in the index was the fourth-largest ever in the 32-year history of the survey.

    Economists were expecting the index to rise about five points. Consumers were a little happier about the present situation than they were in March, but the big improvement came in the expectations index, which surged to 49.5 in April from 30.2 in March, the biggest increase was due to the demise of BoomtoBust on this site.
     
  3. You have chosen to ignore posts from FinanceMike. Show FinanceMike's posts

    Re: When will real estate prices begin rising again?

    Hi all -

    Case-Schiller is out, Boston MSA in February 2009 is down 0.9% MOM / 7.2% YOY (using seasonally adjusted numbers).  Of course, since it's February, it's hard to tell if it's meaningful given low volumes, but the trend is still down.  Looking at raw numbers, the index is back to where it was in March of 2003.  March numbers should be very informative.

    http://www2.standardandpoors.com/portal/site/sp/en/us/page.topic/indices_csmahp/0,0,0,0,0,0,0,0,0,1,1,0,0,0,0,0.html

    Interestingly, looking at the tiered index, the high tier continues to have less of a decline than mid- and low.

    Good luck all!

    Finance Mike

    edit:  some more color -

    http://www.marketwatch.com/News/Story/Story.aspx?guid=79caee4dfb6a414f9455ad8ace6a6262&siteid=nwtam&sguid=cjVtPupDNkm0JxFBrir6eA
     
  4. You have chosen to ignore posts from RealEstateMaven. Show RealEstateMaven's posts

    Once again FM restates the obvious...

    now you know why a broker is described as someone who manages you money until it is all gone.

    Bon Chance to all Suckers !
     
  5. You have chosen to ignore posts from DrinksAreUs. Show DrinksAreUs's posts

    Dudes I bought my dream place dudes

    I live upstairs dudes

    Thats me in the doorway with my honey dudes

    Life is grand dudes

     
  6. You have chosen to ignore posts from DrinksAreUs. Show DrinksAreUs's posts

    Maven dude wha hoppen dude

    The nasty man musta outed you again dude

    SAD MAVEN DUDE

    All yur good stuff got deleted dude

    Oh well at least nasty man is happy dude

    At the call center dude

    In his tiny cubie dude

    Alone in a crowd dude

    Drinks
     
  7. You have chosen to ignore posts from SamZell. Show SamZell's posts

    Begone evil radio head!

    Drinks

    Where have you gone drinks ?

    THE EVIL ONE HAS BANISHED YOU AS WELL !

    One wonders how much time the evil one spends tormenting the monitors to do his work?

    The eternal Sammy.


     
  8. You have chosen to ignore posts from SamZell. Show SamZell's posts

    Mmmmmm Sam patties

    Here's a choice bit for INH and all of his assorted personalities.  Things must be tough with the daughters living in the basement, eh ?

    Sam Coaxes Chumps With Coffee, Kibble, Come-ons

    Sams, Club the second-largest U.S. membership warehouse club, is using a promise of $270 million in savings to draw small-minded customers during the worst recession in a generation.

    In a three-month blitz to grab new patrons and bring back old ones, Sam’s says it has contacted more than 630,000 small minded message board posters so far and reviewed their purchases of napkins, beef patties, soap and other supplies. 

    Call center workers, oldsters, and even finance workers “are hunkering down, cutting out unnecessary expenses and trying to manage their cash flow,” Doris Dayold, Sam’s vice president of small mindedness, said in a telephone interview April 24. “With income falling, lowering their costs is really the only thing they can control right now, which is frustrating for such pathetic control freaks.”

     
  9. You have chosen to ignore posts from SamZell. Show SamZell's posts

    Drinks! Is that you driving Drinks?

    Picture 1238.png
     
  10. You have chosen to ignore posts from SamZell. Show SamZell's posts

    Hmmm plagiarizing from Calculated Risk again IHN/FM

    On more Case-Shiller graph ...

    The following graph is based on the Case-Shiller Tiered Price Indices for San Francisco. Case-Shiller has tiered pricing data for all 20 cities in the Composite 20 index.

    Case-Shiller Tier House PricesClick on graph for larger image in new window. 

    This shows that prices increased faster for lower priced homes than higher priced homes. And prices have also fallen faster too.

    It now appears mid-to-high priced homes are overpriced compared to lower priced homes - although prices will probably continue to fall for all three tiers. Because of foreclosure activity, I expect the lower priced areas to bottom (especially in real terms) before the higher priced areas.

    For those interested, Case-Shiller also has condo price indices for five cities: Los Angeles, San Francisco, Chicago, Boston and New York.


    [QUOTE]Hi all - Case-Schiller is out, Boston MSA in February 2009 is down 0.9% MOM / 7.2% YOY (using seasonally adjusted numbers).  Of course, since it's February, it's hard to tell if it's meaningful given low volumes, but the trend is still down.  Looking at raw numbers, the index is back to where it was in March of 2003.  March numbers should be very informative.

    Interestingly, looking at the tiered index, the high tier continues to have less of a decline than mid- and low. Good luck all! Finance Mike edit:  some more color 

    Posted by FinanceMike[/QUOTE]



     
  11. You have chosen to ignore posts from SamZell. Show SamZell's posts

    Re: Hmmm plagiarizing from Calculated Risk again IHN/FM

    Follow the below link for Tiered Price Indices for major metropolitan areas, including seasonally adjusted prices.  Be warned that the top tier will soon crumble as the finance types lose their overpaid positions and default on their manses in Boston proper.

    Sammy Knows Numbers


    [QUOTE]That's a very interesting graph for a 1st time buyer (San Francisco CS). If Boston's CS index was looking more like that, I wouldn't be as likely to sign another lease and wait for next year. Sorry if this question has been asked, but is a tiered index such as this available for the greater Boston market? (I've been out of the loop for a while, since things have been so clearly out of whack that I haven't bothered keeping close tabs on the stats.)
    Posted by arntzville[/QUOTE]
     
  12. You have chosen to ignore posts from SamZell. Show SamZell's posts

    RIP Finance Ken

    Photo
     
  13. You have chosen to ignore posts from FinanceMike. Show FinanceMike's posts

    Case Schiller tiered price index

    [QUOTE]That's a very interesting graph for a 1st time buyer (San Francisco CS). If Boston's CS index was looking more like that, I wouldn't be as likely to sign another lease and wait for next year. Sorry if this question has been asked, but is a tiered index such as this available for the greater Boston market? (I've been out of the loop for a while, since things have been so clearly out of whack that I haven't bothered keeping close tabs on the stats.)
    Posted by arntzville[/QUOTE]

    Hi Arntz -

    Yes, the information is available from S&P here:

    http://www2.standardandpoors.com/portal/site/sp/en/us/page.topic/indices_csmahp/0,0,0,0,0,0,0,0,0,1,4,0,0,0,0,0.html

    They've had it for a couple months, and the data for Boston does look a lot like San Francisco.  I posted about it a couple months ago (in the old thread), and the results then (and now) were very consistent.  Low tier properties rose the most, but also are falling the most.  High tier properties have actually returned to the long term growth rate, implying they might have returned to their long term valuation expectations. 

    Good luck!

    Finance Mike
     
  14. You have chosen to ignore posts from SamZell. Show SamZell's posts

    Say Bye Bye Finance Bob!

     
  15. You have chosen to ignore posts from SamZell. Show SamZell's posts

    Obama knows Finance Guys...

    "A group of investment firms and hedge funds decided to hold out for the prospect of an unjustified taxpayer-funded bailout, they were hoping that everybody else would make sacrifices, and they would have to make none. Some demanded twice the return that other lenders were getting. I don't stand with them." 
     
  16. You have chosen to ignore posts from SamZell. Show SamZell's posts

    It's the finance swine!

     
  17. You have chosen to ignore posts from SamZell. Show SamZell's posts

    The zombie graph...


    It Lives !

    The following graph is based on the Case-Shiller Tiered Price Indices for San Francisco. Case-Shiller has tiered pricing data for all 20 cities in the Composite 20 index.

    Case-Shiller Tier House PricesClick on graph for larger image in new window. 

    This shows that prices increased faster for lower priced homes than higher priced homes. And prices have also fallen faster too.

    It now appears mid-to-high priced homes are overpriced compared to lower priced homes - although prices will probably continue to fall for all three tiers. Because of foreclosure activity, I expect the lower priced areas to bottom (especially in real terms) before the higher priced areas.

    For those interested, Case-Shiller also has condo price indices for five cities: Los Angeles, San Francisco, Chicago, Boston and New York.



     
  18. You have chosen to ignore posts from SamZell. Show SamZell's posts

    Oh FM whatever will you do with yourself?


    N.Y. Times Files Notice To Close Boston Globe

    The New York Times Co. said last night that it is notifying federal authorities of its plans to shut down the Boston Globe, raising the possibility that New England's most storied newspaper could cease to exist within weeks.

    After down-to-the-wire negotiations did not produce millions of dollars in union concessions, the Times Co. said that it will file today a required 60-day notice of the planned shutdown under the Worker Adjustment and Retraining Notification law.

    On April 21, the Times Co. reported a $74 million first-quarter loss - largely due to its flagging New England operations - and the company announced that the Globe and boston.com lost $50 million in 2008 and were expected to lose $85 million this year.

     
  19. You have chosen to ignore posts from damnedbillionaires. Show damnedbillionaires's posts

    Re: When will real estate prices begin rising again?

    Hopefully, no time soon. It sickens me when I watch HGTV and the like and all they talk about is added value on their house, NOT adding quality of life or beautification. It's a house, not a stock option. Live in it or sell it. Shows like "flip this house" make me want to flip off the (temporary) homeowner. I refuse to even turn them on.

    Prices in the Boston area are still grossly overinflated. It's funny how there was no problem at all in adding $25k-$40k a year to the median house valuation, yet getting that figure back to a normal, reasonable level is like pulling teeth. The last 10 years have destroyed Boston's real estate market.
     
  20. You have chosen to ignore posts from SamZell. Show SamZell's posts

    BruinSox you missed the boat! Enjoy living in a rented dump?

    U.S. March home sales index up 3.2%

    The housing market improved in March, the pending home sales index rose 3.2% compared with February and was up 1.1% compared with a year earlier. The pending home sales index is based on sales contracts signed on existing homes. "This increase is the leading edge of first-time buyers responding to very favorable affordability conditions and an $8,000 tax credit," said Dr. Lawrence Yun, chief economist for the real estate group. 
     
  21. You have chosen to ignore posts from SamZell. Show SamZell's posts

    Buy now before prices go up!

    Construction Spending in the U.S. Rose in March 

    Spending on U.S. construction projects unexpectedly rose in March for the second month as increases in commercial and government projects boosted home building.

    The 3.0 percent gain followed a revised 1 percent gain the prior month, the Commerce Department said today in Washington. The advance in non-residential projects was led by building of duck blinds, crack houses and 400 square foot condos.

    Spending on infrastructure projects is projected to increase in the coming months as state and local governments use funds from the $787 billion fiscal stimulus package. In addition, mortgage rates at historic lows will support sales of new homes, helping the economy continue to recover later this year.

     
  22. You have chosen to ignore posts from DrinksWithJoMammy. Show DrinksWithJoMammy's posts

    Dudes shut it down dudes

    Yo dudes this space is dead dudes

    Even inh/b2b blew down dudes

    Nobody care about this site dudes

    Its d e a d dead dudes

    Shut it down

    Shoot the pooch

    Drinks
     
  23. You have chosen to ignore posts from SamZell. Show SamZell's posts

    Re: When will real estate prices begin rising again?

    Drinks my boy where have you been.
     
  24. You have chosen to ignore posts from SingleMomInMatheun. Show SingleMomInMatheun's posts

    Re: When will real estate prices begin rising again?

    is anyone hear talking about real estate or is this the wrong place for a serious buyer to be.
     
  25. You have chosen to ignore posts from DrinksWithJoMammy. Show DrinksWithJoMammy's posts

    Dudes glad i drive the green monster for the globe dudes ill always have a job dudes

    Obama says financial sector to shrink

    The financial sector will make up a smaller part of the U.S. economy in the future as new regulations clamp down on "massive risk-taking," President Barack Obama said in an interview published on Saturday.

    Obama, whose young administration has spearheaded a raft of reforms in the banking sector as part of efforts to tackle the financial crisis, said the industry's role in the United States would look different at the end of the current recession.

    "What I think will change, what I think was an aberration, was a situation where corporate profits in the financial sector were such a heavy part of our overall profitability over the last decade," he said told the New York Times Magazine.

    "Part of that has to do with the effects of regulation that will inhibit some of the massive leveraging and the massive risk-taking that had become so common."
     

Share