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First Year Over Year Rise In Existing Home Sales Since November 2005
Reading Time: 1 minuteA strong July Existing Home Sales report from the National Association of Realtors is propelling the market this morning. Existing home sales rose to a 5.24 million annualized rate from 4.99 million in July 2008 – the first year over…
Peter Goodman Revisits Cape Coral, FL
Reading Time: 2 minutesWe’re not in a recession. We’re in a depression. – Bobby Mahan, a local real estate broker Two years ago, Peter Goodman wrote an award winning piece on the real estate bust in Cape Coral, FL: “This Is The Sound…
Some Signs Of Improvement In Sacramento Home Market
Reading Time: 2 minutesDataQuick yesterday released April Sales numbers for the Sacramento region and they were somewhat encouraging. The most encouraging number is sales volume which was up 10% for the 8-county region compared to last year. Even though prices are still going…
Fannie Mae’s Thin Margin
Reading Time: 3 minutes“The new capital will enable Fannie Mae to maintain a strong, conservative balance sheet….” – Fannie Mae 1st Quarter Earnings Release The Heard On The Street column in today’s WSJ, “Will $6 Billion Do For Fannie?” (subscription required), caught my attention. Fannie announced…
House Of Pain At Lennar
Reading Time: 1 minuteHomebuilder Lennar (LEN) reported 2nd quarter earnings today and they were not pretty (LEN Earnings Release). I put together a chart of Lennar’s new homes delivered and backlog going back 5 years which pretty much tells the story: LEN New Homes…
Washington Mutual Implicated In Appraisal Fraud Case
Reading Time: 2 minutes“I was pressured for 2 weeks to change both my value and the conditions of my appraisal report …. of an appraisal I completed that did not come to their predetermined value for a ‘valued’ Wamu client.” – Appraiser (subscription…