Monday, July 27, 2009

New home sales is out for June 2009.

hard to say if this is just another data point on the graph, but it's positive one and that is what everyone could hope for in this condition.

Bloomberg news

Saturday, July 25, 2009

On site visit is a must!

Depend on how long the build has been on the market or the type of person lived there before a short sell/foreclose house maybe in bad shape. See photo for two different house I visited.

A damage ceiling is not so bad, compare to molds..

of course it looks bad, but the root cause is probably a old leaky roof which can be fix.

next time I'll provide a list a simple check list of things to look for. Remember what you "see" may not be the true value of the property. If you know a contractor he maybe able to quote you the price to fix it up.

Tuesday, July 21, 2009

credit is due...

I was searching around for data points so I can compare the past 2 or 3 years foreclosure rate and found this graph from most of the data are focus California, but still relevant.

It looks so much better than my excel spread sheet! The blog titled "Foreclosure Nation" if you like numbers and charts this web site got it all.

Friday, July 17, 2009

Mix bag of mud

Foreclosure, seem to be a hot topic.

· Foreclosure could be declining according to the Federal Housing Finance Agency (FIFA). April foreclosure starts were 85,938 down from the June's total of 88,491.

· Foreclosures rose 15% in the first half of 2009 impacting 1.5 million homes according to RealtyTrac. In addition foreclosures in June increased 5% from May. RealtyTrac also said June was the fourth consecutive month of 300,000+ foreclosure notices.

· For the first half of 2009 Nevada #1 Arizona #2 in foreclosures

Job Market, it is all about jobs! Unless and until the job market gets better and people get back to work, or if they are working and not feeling good about their long term job security, the recovery is going to be slow. If you want to watch one statistic watch the continuing job claims number.

· animated map provides visual timeline of job loss in U.S (2004-March 2009) let's just say "red" win.

· Initial jobless claims were down 47,000 to lower than expected 522,000 (the lowest level since January 2009).

· Continuing jobless claims fell to 6.2 million.

· Every quarter since March 2006 bankruptcies have increased. In the month of March 2008 there were 245,000 and a year later there were 330,000 in March.