2009 Real Estate Forecast

Two Types Of Homes That Are Selling Right Now

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!If you are planning on selling your home in the near future, this quote is dead on and will give you something to think about.

Two types of homes are selling right now—houses that are great values and houses […]

3Oct2008 | Tom Royce | 1 comment | Continued

Sam Zell Blames Market Down To Market Rules For Wall Street Issues

In our earlier post on Market Down to Market we saw how Dave Ramsey sees the problem with accounting rules forcing investment firms hands and how it created this crisis. I respect his opinion greatly.
So it solidified my thinking when another great mind in real estate development and management, Sam Zell, told the same thing […]

24Sep2008 | Tom Royce | 0 comments | Continued

New Report Warns Of Option ARMs Defaults Lasting Through 2011

First there was subprime failures, then Alt-A trouble. Now we are entering the cycle of Option ARMs coming down. Looking back subprime loans were the problem initiated by the government to help the low income borrowers and abused by lenders. Then ALT-A was the vehicle for the self employed who had always been shut out […]

23Sep2008 | Tom Royce | 1 comment | Continued

California Sales Up, Prices Down, 47% of Sales Foreclosures

It looks like the great flush out of the California real estate market is underway. Banks recognizing that they are not landlords have decided to drop the prices on their foreclosures and they are being snapped up by eager buyers.
All of this information is both horrible and great at the same time. It is allowing […]

19Sep2008 | Tom Royce | 0 comments | Continued

Multifamily Housing Market Is Strongest In United States Right Now

If you are looking for a bright spot in the real estate investment world right now, look to multifamily apartments as your best bet. The combination of weak sales and tough financing is creating a backlog in the rental markets forcing many who would be considering purchasing new homes onto the sidelines.
The issue has […]

18Sep2008 | Tom Royce | 0 comments | Continued

Mortgage Rate Drop is Not Expected To Create Huge Demand

The good news is that mortgage rates have fallen after word hit the street that the government is taking over Freddie Mac and Fannie Mae. The bad news is that credit is still so tight that it will not have that great an impact on the marketplace.
For those in a solid financial place having the ability to […]

11Sep2008 | Tom Royce | 2 comments | Continued

Working Almost Entirely With Creditworthy National Retailers

The headline, “working almost entirely with creditworthy national retailers” comes from an article in the Detroit Free Press on how Agree Realty has been successful in commercial real estate.
It should also ring a bell for residential agents in todays market.
Would it not make sense to always use that criteria when dealing with real […]

9Sep2008 | Tom Royce | 0 comments | Continued

Federal Housing Credit Looks To Bring Buyers Out Of The Woodwork

One of the hats the real estate industry is hoping to turn the market around is the Federal Housing Tax Credit. The $7,500 credit for new home buyers, or those who have not owned a home in the past 3 years, is a great tool to motivate buyers in the slow market.
But the key that we have […]

6Sep2008 | Tom Royce | 1 comment | Continued

6.41% Of ALL Mortgages Late or In Foreclosure

This is a scary number in the headline and one that I will repeat a different way, 64 out of every 1,000 homes that have a mortgage are late or in foreclosure. The media is trumpeting it across the globe and scaring the heck out of anyone driving a car or has the radio on. […]

5Sep2008 | Tom Royce | 2 comments | Continued

Toll Brothers Annouces 3rd Quarter Loss of 29 Million

Toll Brothers showed a modest loss of 29 million for it’s fiscal 3rd quarter amidst a horrible market. But with nearly 1.5 billion of cash on hand the company looks like it will survive the housing downturn.
Say what you will about builders, it is looking like the management at Toll Brothers has managed this storm […]

4Sep2008 | Tom Royce | 1 comment | Continued