By Joseph Lazzaro
The U.S. housing sector received another dose of sobering news Tuesday, as home prices in 20 major cities fell a worse-than-expected 1.3% in October from September, on a non-seasonally-adjusted basis, according to the S&P/Case-Shiller U.S. National Home Price survey. That's the index's fourth straight monthly decline. Also, the 10-city index fell 1.2% in October compared to September.
Home prices in the 20-city index also fell 0.8% in October on a year-over-year basis. However, the 10-city index rose 0.2% in October on that basis. October's decline marked the first year-over-year drop for the 20-city index since January.
A Bloomberg survey had expected home prices in the 20-city index to fall 0.7% in October from September, and 0.2% on a year-over-year basis, after falling a revised 0.8% in September from August, and 0.6% year-over-year in September.
"There Is No Good News"
David M. Blitzer, chairman of the Index Committee at Standard & Poor's, said concerned about a double-dip recession in home prices is warranted. "The double-dip is almost here, as six cities set new lows for the period since the 2006 peaks. There is no good news in October's report. Home prices across the country continue to fall." Blitzer said, in a statement.
"The trends we have seen over the past few months have not changed," he said. "The tax incentives are over, and the national economy remained lackluster in October, the month covered by these data. Existing homes sales and housing starts have been reported for both October and November, and neither is giving any sense of optimism."
In October, all 20 metropolitan statistical areas (MSAs) in the 20-city and 10-city indexes were down compared to September, Blitzer added. Further, while not always consecutive months, 12 of the MSAs and both indexes have posted at least six months' of decline since the beginning of 2010.
Monthly price drops in October in major U.S. cities were as follows: New York, 1.6%; Chicago, 2%; Boston, 1.2%; Washington, D.C., 0.2%; Atlanta, 2.9%; Tampa, 0.9%; Miami, 1.1%; Dallas, 1.1%; Denver, 0.6%; Los Angeles, 0.7%; San Francisco, 1.9%; and Seattle, 1.3%.
October's home price report is an unqualified negative. As the impact of the homebuyer tax credit waned, home prices have stagnated. The large inventory of unsold homes is likely to continue to place downward pressure on home prices at least through early 2011, and probably for longer. Until both existing- and new-home sales rise in a sustained way to lower those high inventories, home prices will keep struggling.
Tuesday, December 28, 2010
Friday, November 19, 2010
Most Expensive House in U.S.? A Shack
Most Expensive House in U.S.? A Shack
By Ann Brenoff
What is the most expensive home on the market in U.S. right now? If you guessed Candy Spelling's Holmby Hills, Calif. mansion, selling for $150 million, you'd be right -- unless you were going by price-per-square-foot.
According to a Forbes blogger, if you compared listings strictly by square footage, a shack on the beach in Carpinteria, Calif. tops the country's list of most expensive homes.
Well, yes and no.
Sure it's great fun to compare it to Candy Spelling's manse of 56,500 square feet (see photo below, right) and realize that the beachfront shack listed at $5.3 million (with less space than a regulation squash court) comes out to a higher per-square-foot price -- Spelling's is $2,700 a square foot and the aforementioned shack is around $7,000 per square foot.
But to throw a bucket of chilled Perrier on the premise, there are always factors that impact a home's value which have nothing to do with the size of the actual shack, I mean, house: the view, location, sun angle, design, style, special features and condition all weigh in.
Starting with location, have you been to Carpinteria lately? Nice place for a weekend camping trip if you don't mind the roar of the traffic just outside your tent. The beach is nice enough, but you aren't going to see limos drive up here for any A-list parties.
Nor will you find a Michelin-star restaurant or a single Kardashian selling anything anywhere near Carpinteria. It's home to surfers, dudes in pickups, and some students who can't afford campus life at UC Santa Barbara, 12 miles away. Dudes in pickups don't frequent Holmby Hills, where Spelling kicks off her Manolos.
We allow how not everyone needs a near brush with celebrity to find fulfillment in their housing. So how about design? The shack is, to put it in kind Realtorspeak, in need of TLC. Some might say it's a tear-down and what you're really paying for is the half-acre of land, the 92 feet of beachfront it sits on, and the fact that its thoughtful owner has already gotten approvals to build a 2,600-square-foot replacement home on the site.
Spelling's place? A regular palace worthy of Queen Oprah, who at one point was rumored to be buying it. It's move-in ready for even the most discriminating buyer. A housekeeping staff must dust and vacuum 24/7 here to meet Candy's expectations in the spit-and-polish department.
Our shack does have a leg up in the view category. There's no ocean view like the one from the sand. Candyland, as real estate pundits have dubbed the Spelling home, is lovely, gated and private. It has gracious lawns that sprawl over its 4.7 acres. But not even Aaron Spelling's money could move the Pacific Ocean closer.
Still, how it is possible that a beach shack in a beach shacky town can command a higher price per square foot than a veritable castle in one of the country's toniest neighborhoods? Well, to state the obvious: Neither of them has sold yet, have they?
Friday, July 2, 2010
Sunday, June 27, 2010
Secure Your Home For Summer Vacation
Secure Your Home For Summer Vacation
by Jen Jafarzadeh L'Italien, Posted Jun 21st 2010 9:30AM
Going on a trip? Take precautions to keep potential intruders away from your property.
When you finally take some time off for vacation, the last thing you want to worry about is what might go wrong at home while you're away. But the reality is that your home could be a sitting target for burglars when it's empty.
The good news? With this simple checklist, you can head for the sunshine knowing your house is safe and secured. The key to deterring intruders from your house? Make sure your home looks lived-in, even if you'll be away a couple weeks. Here's how.
1. Arrange for mail to be held while you're away. Mail quickly piles up in the mailbox (hello, catalogs!), and an overflowing mailbox is a sure sign to everyone that you're not home. You can easily stop mail delivery by notifying the post office online. Then you can pick up your mail when you get back.
2. Put your newspapers on hold. Besides the waste of paper (who's going to read old news when you return from vacation?), a pileup of newspapers on your doorstep is an easy red flag that you're away.
3. Show-off your alarm system. Make sure to have an easy-to-see sign on your door or window to alert everyone of your spiffed-up security system. Consider putting up a sign, even if you haven't invested in a high-tech alarm.
4. Don't button up the whole house. It's natural to want to "close up" the house while you're away, but you want to give the appearance that the house is lived in. Leave drapes and window treatments slightly open, rather than closed shut. Put some of your indoor lights on timers, and have some of them go on at night to give the appearance that someone's at home.
. Show-off your alarm system. Make sure to have an easy-to-see sign on your door or window to alert everyone of your spiffed-up security system. Consider putting up a sign, even if you haven't invested in a high-tech alarm.
4. Don't button up the whole house. It's natural to want to "close up" the house while you're away, but you want to give the appearance that the house is lived in. Leave drapes and window treatments slightly open, rather than closed shut. Put some of your indoor lights on timers, and have some of them go on at night to give the appearance that someone's at home.
5. Invest in motion-sensing floodlights for the yard. Now is a good time to consider investing in motion-sensing floodlights. When you're on vacation, glaring light will deter potential intruders. And when you arrive home, it'll be easier to see what's going on at night.
6. Leave a radio on. To those outside, the buzz of voices will make it seem like there are people at home. Choose a talk station, like NPR, rather than an station that just plays music.
7. Leave a car in the driveway. If you're flying to your destination, simply leave your car in the driveway. If you're taking a summer road trip, ask a neighbor if they could park one of their cars in your driveway while you're away. It's also a good idea to alert a neighbor or friend that you'll be away, so they can keep an eye on your house.
8. Arrange for your lawn to be mowed. You want to stop some services (like mail delivery) while you're away. But others, like getting your lawn mowed, should continue on just like you're at home. Arrange with your landscaper to have your lawn mowed as usual while you're away. If you typically mow your own lawn, consider hiring a local to come mow your lawn once while you're away during extended trips. Long grass is another sure-fire signal to burglars that the house has been vacant.
9. Take a walk-around your house a week or so before you leave. Check for any shrubs, hedges, trees, or landscaping that looks overgrown (also look for tree limbs that provide an easy route to an upstairs window.) Trim any greenery that looks like it would provide a hiding place for intruders.
10. Make sure unnecessary electrical equipment is turned off while you're away. It's a good idea to plug your electronics in surge protectors that are easy to power on or off with the flick of a switch. You'll also be saving energy (and saving on your electric bill!) by powering off the TV, computer, and entertainment center. Many appliances are also known as ghost energy hogs, sucking energy even when they're simply turned off. By plugging these devices in a safety surge protector, you can stop the flow of electricity.
11. Give the cat-sitter or dog-sitter a spare key before you leave. You don't want to hide the key under a rock, doormat, or in the BBQ grill. These are all known hide-a-key tricks; they give burglars a free pass into your house.
Tip: Ensure you come home to a fresh house post-vacation. Clear your refrigerator of any perishable foods (you can offer your milk to your friendly neighbor) and make sure you take out stinky trash before you leave.
by Jen Jafarzadeh L'Italien, Posted Jun 21st 2010 9:30AM
Going on a trip? Take precautions to keep potential intruders away from your property.
When you finally take some time off for vacation, the last thing you want to worry about is what might go wrong at home while you're away. But the reality is that your home could be a sitting target for burglars when it's empty.
The good news? With this simple checklist, you can head for the sunshine knowing your house is safe and secured. The key to deterring intruders from your house? Make sure your home looks lived-in, even if you'll be away a couple weeks. Here's how.
1. Arrange for mail to be held while you're away. Mail quickly piles up in the mailbox (hello, catalogs!), and an overflowing mailbox is a sure sign to everyone that you're not home. You can easily stop mail delivery by notifying the post office online. Then you can pick up your mail when you get back.
2. Put your newspapers on hold. Besides the waste of paper (who's going to read old news when you return from vacation?), a pileup of newspapers on your doorstep is an easy red flag that you're away.
3. Show-off your alarm system. Make sure to have an easy-to-see sign on your door or window to alert everyone of your spiffed-up security system. Consider putting up a sign, even if you haven't invested in a high-tech alarm.
4. Don't button up the whole house. It's natural to want to "close up" the house while you're away, but you want to give the appearance that the house is lived in. Leave drapes and window treatments slightly open, rather than closed shut. Put some of your indoor lights on timers, and have some of them go on at night to give the appearance that someone's at home.
. Show-off your alarm system. Make sure to have an easy-to-see sign on your door or window to alert everyone of your spiffed-up security system. Consider putting up a sign, even if you haven't invested in a high-tech alarm.
4. Don't button up the whole house. It's natural to want to "close up" the house while you're away, but you want to give the appearance that the house is lived in. Leave drapes and window treatments slightly open, rather than closed shut. Put some of your indoor lights on timers, and have some of them go on at night to give the appearance that someone's at home.
5. Invest in motion-sensing floodlights for the yard. Now is a good time to consider investing in motion-sensing floodlights. When you're on vacation, glaring light will deter potential intruders. And when you arrive home, it'll be easier to see what's going on at night.
6. Leave a radio on. To those outside, the buzz of voices will make it seem like there are people at home. Choose a talk station, like NPR, rather than an station that just plays music.
7. Leave a car in the driveway. If you're flying to your destination, simply leave your car in the driveway. If you're taking a summer road trip, ask a neighbor if they could park one of their cars in your driveway while you're away. It's also a good idea to alert a neighbor or friend that you'll be away, so they can keep an eye on your house.
8. Arrange for your lawn to be mowed. You want to stop some services (like mail delivery) while you're away. But others, like getting your lawn mowed, should continue on just like you're at home. Arrange with your landscaper to have your lawn mowed as usual while you're away. If you typically mow your own lawn, consider hiring a local to come mow your lawn once while you're away during extended trips. Long grass is another sure-fire signal to burglars that the house has been vacant.
9. Take a walk-around your house a week or so before you leave. Check for any shrubs, hedges, trees, or landscaping that looks overgrown (also look for tree limbs that provide an easy route to an upstairs window.) Trim any greenery that looks like it would provide a hiding place for intruders.
10. Make sure unnecessary electrical equipment is turned off while you're away. It's a good idea to plug your electronics in surge protectors that are easy to power on or off with the flick of a switch. You'll also be saving energy (and saving on your electric bill!) by powering off the TV, computer, and entertainment center. Many appliances are also known as ghost energy hogs, sucking energy even when they're simply turned off. By plugging these devices in a safety surge protector, you can stop the flow of electricity.
11. Give the cat-sitter or dog-sitter a spare key before you leave. You don't want to hide the key under a rock, doormat, or in the BBQ grill. These are all known hide-a-key tricks; they give burglars a free pass into your house.
Tip: Ensure you come home to a fresh house post-vacation. Clear your refrigerator of any perishable foods (you can offer your milk to your friendly neighbor) and make sure you take out stinky trash before you leave.
Thursday, June 24, 2010
Tuesday, June 22, 2010
FINALLY SOME GOOD REAL ESTATE NEWS FOR THE DESERT!
By Debra Gruszecki • The Desert Sun • June 20, 2010
Home sales and prices in the Coachella Valley rose in April and May, the latest real estate market report from MDA DataQuick shows.
This makes the seventh consecutive month of positive sales and price gains.
Economists say that's a sign the market is in a stage of recovery.
“The market is doing very well for buyers and sellers,'' said Brady Sandahl of RE/MAX Real Estate in Palm Springs.
DataQuick reported the 1,029 sales of new and existing homes in April rose 8.1 percent and the median price hit $215,000, reflecting nearly a 23 percent surge in price from 2009.
May posted 1,021 sales, recorded a 7.8 percent rise in sales and measured a $210,000 median. That median is 15.7 percent higher than in May 2009.
Since December 2009, median prices have been above $200,000 — besting the performance for most of 2009 when the median bumped along the $180,000 line.
Prices off from 2008
The April and May home sale prices still are well off the $301,000 median in April 2008 or $309,000 in May 2008 — prices hit their highest point at $410,000 in February 2006 — but the Southern California market already is at the $300,000 level.
Southern California home sales prices topped $300,000 in May for the first time in 20months, a spurt DataQuick linked to a cache of buyers capitalizing on low mortgage rates and the California home-buying tax credits that kicked in May 1.
The gains also were attributed to a shrinking stock of “ultra bargains” in the low-cost inland areas.
The DataQuick report for April and May seems to bear that out.
Hard-hit foreclosure zones of Coachella, Desert Hot Springs, Indio, Thermal and Thousand Palms, which had triple-digit sales activity in 2008 and part of 2009, saw sales contract year-over-year in April and May.
As sales there sputtered, the buying gravitated to communities of Indian Wells, Palm Desert, Palm Springs, La Quinta and Rancho Mirage.
Home sales in La Quinta are up 42 percent in April and up 22 percent in May, as is the median sales price.
The median rose 22 percent to $380,000 in April, up from $310,000 in 2009. Rancho Mirage's 65 sales drove up the median some 23 percent, as home sales prices rose to $440,000 from $355,000 in April 2009.
The Indian Wells median sales price rose 4.9 percent year-over-year in April to $524,500. And it outdid itself in May, measuring a 158 percent increase in sales and a new median of $810,000. That's up 40 percent from May 2009.
Positive indicators
Inland Empire economist John Husing said the sales increases and median price gains are positive indicators.
“May, one year ago, was the bottom of the market,'' Husing said.
Banks may be holding back supply from the foreclosure process to keep supply levels on pace to stimulate sales, he added, and advised: “Watch for slippage in sales volume.
“Still, the large increases in price shows the market really has started to recover.”
Luxury home sales activity has also picked up in a significant way from the 2009 doldrums.
Seven sales, ranging from $1.2 million to a high of $6 million, were noted in the DataQuick report for April. While April was the fourth month of solid sales in this genre, January came in like a lion with the sale of a $7.4 million home in Bighorn and two others in the range of $4.5 million and $3.1 million.
In May, the pace continued with one $7.8 million sale in Palm Desert.
Lags on market
New home construction sales is the only segment of the market that's been hurting.
Sales were off by 8.3 percent in April and May.
Altogether, less than 100 homes were sold in the median price ranges of $210,000 to $254,500.
That pace of home sales has been taking shape across California, the Building Industry Association reported. The monthly CBIA/Hanley Wood Market Intelligence report showed sales in new-home communities of 10 units or more were 32 percent below April 2009.
Foreclosure activity also continues to dog the market.
RealtyTrac has reported that foreclosure filings for May across the nation are down 3percent from April, but have not completely subsided as foreclosure filings rose 1 percent from 2009.
“Those numbers confirm a trend that overall foreclosure activity may be leveling off, as lenders work through the backlog of distressed properties,'' said James J. Saccacio, chief executive officer of RealtyTrac.
Expansion begins
Even as market distress nips at the Coachella Valley, real estate companies across the Coachella Valley are ramping up to cater to growing sales opportunities.
That's because buyers are eyeing the middle and upper level brackets.
In some places, prices are 40 percent less than they were in the real estate heyday.
Windermere Real Estate Coachella Valley in April disclosed plans to open a new office in Indio in June, as an addition to its 13 other offices in the valley.
The company added 15 new agents to its 600-member team and may soon add another office to serve the desert.
Keller Williams Realty Inc. opened a new Legacy division in La Quinta at the end of April and made its debut in May. HK Lane acquired Classic Homes Real Estate to gain market share in recent weeks, and Realty Executives Desert Cities of Palm Desert last week held a grand opening for its new Palm Springs office.
“When we look at sales in Palm Springs from January through May and match them against the same curve for 2009, the counts are up 41 percent,'' Sandahl said. “In 2009, there were 10 properties that sold above $1 million. In 2010, there's been 24: It's more than doubled.”
VIP prices
The VIP homes that have come on the block in recent months — Liberace, Anne Rice, Edra Blixseth's Porcupine Creek — have helped reinvigorate interest from afar in the Palm Springs desert resort market, real estate professionals say.
Market interest — and some celebrity home sales — hasn't gotten lost on Bjorn Ahlstrom, an international player in the economy.
Ahlstrom, who grew Volvo North America Corp. as president and CEO from a $50 million car importer in the 1970s to a $6 billion company, and kept many properties in the Palm Springs market after he retired from Volvo in 2004, just put his $1.49 million tennis estate up for sale.
“It's time,'' he said, hinging it on observations of a “shrinking” market.
Ahlstrom said he and his wife, Diane, listed their four-bedroom, four-bath home in the Movie Colony because they're spending more time at their penthouse home in Marina del Rey and would like to add a condo in Manhattan to their property portfolio.
“I believe things are turning around a little bit,'' Ahlstrom said. “We decided to list it now to test the market, if you will”
In 22 days, Sandahl said the home's had seven strong showings.
“That's distinctly different from a year-and-a-half ago,'' Ahlstrom said, when the home was listed the first time. “Nothing moved.”
Now, the buyers are even different — heading in from multiple states and two coasts.
“As prices adjust down and available supply continues to shrink, buyers see value,'' Sandahl said.
“Houses are moving.”
The median rose 22 percent to $380,000 in April, up from $310,000 in 2009. Rancho Mirage's 65 sales drove up the median some 23 percent, as home sales prices rose to $440,000 from $355,000 in April 2009.
The Indian Wells median sales price rose 4.9 percent year-over-year in April to $524,500. And it outdid itself in May, measuring a 158 percent increase in sales and a new median of $810,000. That's up 40 percent from May 2009.
Positive indicators
Inland Empire economist John Husing said the sales increases and median price gains are positive indicators.
“May, one year ago, was the bottom of the market,'' Husing said.
Banks may be holding back supply from the foreclosure process to keep supply levels on pace to stimulate sales, he added, and advised: “Watch for slippage in sales volume.
“Still, the large increases in price shows the market really has started to recover.”
Luxury home sales activity has also picked up in a significant way from the 2009 doldrums.
Seven sales, ranging from $1.2 million to a high of $6 million, were noted in the DataQuick report for April. While April was the fourth month of solid sales in this genre, January came in like a lion with the sale of a $7.4 million home in Bighorn and two others in the range of $4.5 million and $3.1 million.
In May, the pace continued with one $7.8 million sale in Palm Desert.
Lags on market
New home construction sales is the only segment of the market that's been hurting.
Sales were off by 8.3 percent in April and May.
Altogether, less than 100 homes were sold in the median price ranges of $210,000 to $254,500.
That pace of home sales has been taking shape across California, the Building Industry Association reported. The monthly CBIA/Hanley Wood Market Intelligence report showed sales in new-home communities of 10 units or more were 32 percent below April 2009.
Foreclosure activity also continues to dog the market.
RealtyTrac has reported that foreclosure filings for May across the nation are down 3percent from April, but have not completely subsided as foreclosure filings rose 1 percent from 2009.
Home sales and prices in the Coachella Valley rose in April and May, the latest real estate market report from MDA DataQuick shows.
This makes the seventh consecutive month of positive sales and price gains.
Economists say that's a sign the market is in a stage of recovery.
“The market is doing very well for buyers and sellers,'' said Brady Sandahl of RE/MAX Real Estate in Palm Springs.
DataQuick reported the 1,029 sales of new and existing homes in April rose 8.1 percent and the median price hit $215,000, reflecting nearly a 23 percent surge in price from 2009.
May posted 1,021 sales, recorded a 7.8 percent rise in sales and measured a $210,000 median. That median is 15.7 percent higher than in May 2009.
Since December 2009, median prices have been above $200,000 — besting the performance for most of 2009 when the median bumped along the $180,000 line.
Prices off from 2008
The April and May home sale prices still are well off the $301,000 median in April 2008 or $309,000 in May 2008 — prices hit their highest point at $410,000 in February 2006 — but the Southern California market already is at the $300,000 level.
Southern California home sales prices topped $300,000 in May for the first time in 20months, a spurt DataQuick linked to a cache of buyers capitalizing on low mortgage rates and the California home-buying tax credits that kicked in May 1.
The gains also were attributed to a shrinking stock of “ultra bargains” in the low-cost inland areas.
The DataQuick report for April and May seems to bear that out.
Hard-hit foreclosure zones of Coachella, Desert Hot Springs, Indio, Thermal and Thousand Palms, which had triple-digit sales activity in 2008 and part of 2009, saw sales contract year-over-year in April and May.
As sales there sputtered, the buying gravitated to communities of Indian Wells, Palm Desert, Palm Springs, La Quinta and Rancho Mirage.
Home sales in La Quinta are up 42 percent in April and up 22 percent in May, as is the median sales price.
The median rose 22 percent to $380,000 in April, up from $310,000 in 2009. Rancho Mirage's 65 sales drove up the median some 23 percent, as home sales prices rose to $440,000 from $355,000 in April 2009.
The Indian Wells median sales price rose 4.9 percent year-over-year in April to $524,500. And it outdid itself in May, measuring a 158 percent increase in sales and a new median of $810,000. That's up 40 percent from May 2009.
Positive indicators
Inland Empire economist John Husing said the sales increases and median price gains are positive indicators.
“May, one year ago, was the bottom of the market,'' Husing said.
Banks may be holding back supply from the foreclosure process to keep supply levels on pace to stimulate sales, he added, and advised: “Watch for slippage in sales volume.
“Still, the large increases in price shows the market really has started to recover.”
Luxury home sales activity has also picked up in a significant way from the 2009 doldrums.
Seven sales, ranging from $1.2 million to a high of $6 million, were noted in the DataQuick report for April. While April was the fourth month of solid sales in this genre, January came in like a lion with the sale of a $7.4 million home in Bighorn and two others in the range of $4.5 million and $3.1 million.
In May, the pace continued with one $7.8 million sale in Palm Desert.
Lags on market
New home construction sales is the only segment of the market that's been hurting.
Sales were off by 8.3 percent in April and May.
Altogether, less than 100 homes were sold in the median price ranges of $210,000 to $254,500.
That pace of home sales has been taking shape across California, the Building Industry Association reported. The monthly CBIA/Hanley Wood Market Intelligence report showed sales in new-home communities of 10 units or more were 32 percent below April 2009.
Foreclosure activity also continues to dog the market.
RealtyTrac has reported that foreclosure filings for May across the nation are down 3percent from April, but have not completely subsided as foreclosure filings rose 1 percent from 2009.
“Those numbers confirm a trend that overall foreclosure activity may be leveling off, as lenders work through the backlog of distressed properties,'' said James J. Saccacio, chief executive officer of RealtyTrac.
Expansion begins
Even as market distress nips at the Coachella Valley, real estate companies across the Coachella Valley are ramping up to cater to growing sales opportunities.
That's because buyers are eyeing the middle and upper level brackets.
In some places, prices are 40 percent less than they were in the real estate heyday.
Windermere Real Estate Coachella Valley in April disclosed plans to open a new office in Indio in June, as an addition to its 13 other offices in the valley.
The company added 15 new agents to its 600-member team and may soon add another office to serve the desert.
Keller Williams Realty Inc. opened a new Legacy division in La Quinta at the end of April and made its debut in May. HK Lane acquired Classic Homes Real Estate to gain market share in recent weeks, and Realty Executives Desert Cities of Palm Desert last week held a grand opening for its new Palm Springs office.
“When we look at sales in Palm Springs from January through May and match them against the same curve for 2009, the counts are up 41 percent,'' Sandahl said. “In 2009, there were 10 properties that sold above $1 million. In 2010, there's been 24: It's more than doubled.”
VIP prices
The VIP homes that have come on the block in recent months — Liberace, Anne Rice, Edra Blixseth's Porcupine Creek — have helped reinvigorate interest from afar in the Palm Springs desert resort market, real estate professionals say.
Market interest — and some celebrity home sales — hasn't gotten lost on Bjorn Ahlstrom, an international player in the economy.
Ahlstrom, who grew Volvo North America Corp. as president and CEO from a $50 million car importer in the 1970s to a $6 billion company, and kept many properties in the Palm Springs market after he retired from Volvo in 2004, just put his $1.49 million tennis estate up for sale.
“It's time,'' he said, hinging it on observations of a “shrinking” market.
Ahlstrom said he and his wife, Diane, listed their four-bedroom, four-bath home in the Movie Colony because they're spending more time at their penthouse home in Marina del Rey and would like to add a condo in Manhattan to their property portfolio.
“I believe things are turning around a little bit,'' Ahlstrom said. “We decided to list it now to test the market, if you will”
In 22 days, Sandahl said the home's had seven strong showings.
“That's distinctly different from a year-and-a-half ago,'' Ahlstrom said, when the home was listed the first time. “Nothing moved.”
Now, the buyers are even different — heading in from multiple states and two coasts.
“As prices adjust down and available supply continues to shrink, buyers see value,'' Sandahl said.
“Houses are moving.”
The median rose 22 percent to $380,000 in April, up from $310,000 in 2009. Rancho Mirage's 65 sales drove up the median some 23 percent, as home sales prices rose to $440,000 from $355,000 in April 2009.
The Indian Wells median sales price rose 4.9 percent year-over-year in April to $524,500. And it outdid itself in May, measuring a 158 percent increase in sales and a new median of $810,000. That's up 40 percent from May 2009.
Positive indicators
Inland Empire economist John Husing said the sales increases and median price gains are positive indicators.
“May, one year ago, was the bottom of the market,'' Husing said.
Banks may be holding back supply from the foreclosure process to keep supply levels on pace to stimulate sales, he added, and advised: “Watch for slippage in sales volume.
“Still, the large increases in price shows the market really has started to recover.”
Luxury home sales activity has also picked up in a significant way from the 2009 doldrums.
Seven sales, ranging from $1.2 million to a high of $6 million, were noted in the DataQuick report for April. While April was the fourth month of solid sales in this genre, January came in like a lion with the sale of a $7.4 million home in Bighorn and two others in the range of $4.5 million and $3.1 million.
In May, the pace continued with one $7.8 million sale in Palm Desert.
Lags on market
New home construction sales is the only segment of the market that's been hurting.
Sales were off by 8.3 percent in April and May.
Altogether, less than 100 homes were sold in the median price ranges of $210,000 to $254,500.
That pace of home sales has been taking shape across California, the Building Industry Association reported. The monthly CBIA/Hanley Wood Market Intelligence report showed sales in new-home communities of 10 units or more were 32 percent below April 2009.
Foreclosure activity also continues to dog the market.
RealtyTrac has reported that foreclosure filings for May across the nation are down 3percent from April, but have not completely subsided as foreclosure filings rose 1 percent from 2009.
Wednesday, June 2, 2010
Wednesday, May 26, 2010
Low Mortgage Rates Point to Perfectly Sunny Summer
By Patricia Orsini
Europe just delivered the U.S. housing market a pleasant surprise for summer. Thanks to the financial chaos across the pond, experts are forecasting that mortgage rates may fall to 4.5 percent over the next few months, rather than shoot up to 6 percent, as previously predicted.
This could provide the historic opportunity many buyers have been waiting for.
The lower rates are good news for home sellers, as well. When the Obama administration's tax credit expired at the end of April, some real estate brokers were convincing sellers to reduce asking prices by $8,000 -- the same amount first-time buyers might have gotten through tax credits in the preceding months. With reduced rates, the cost of a home goes down, and sellers might be able to sell closer to their original asking price.
It's also a reversal of fortune for the more than half of all borrowers with 30-year fixed-rate mortgages of 5.75 percent or higher, who might be able to refinance their rates at more than a full percentage point. Furthermore, more people will qualify for mortgages, and others might find they qualify for a slightly larger loan.
"The lower the rate, the more affordable the mortgage payment; it's a great buying opportunity," Melissa Cohn, president of mortgage broker Manhattan Mortgage Co., in New York City, told HousingWatch.
Speaking from her office Monday afternoon, Cohn added, "We are definitely busy. People want to take advantage of this opportunity. I've been in business for 25 years; in terms of fixed rates, this is the lowest I have seen."
Mortgage rates declined this week, upending predictions that rates already had hit rock-bottom and would be increasing again as the Federal Reserve's mortgage-securities purchase program ended. The reason: Investors from around the world who are finding refuge in U.S. Treasury bonds.
Amid concerns about the global economy, America is looking like a safe bet in terms of investment. The rates on the bonds decrease when there is more investment; when Treasury bonds drop, so do mortgage rates.
This wasn't something people were predicting a month ago, when projections were for interest rates to go up, says Manhattan Mortgage's Cohn. On Monday, the average rate for a 30-year, fixed-rate loan was 4.87 percent.
In late March, according to Freddie Mac, the average 30-year mortgage rate was 4.9 percent. By the week of April 8, the rate had gone up to 5.21 percent, then dropped slightly in the following weeks.
The rush to qualify for the tax credit made April a big one for home sales -- existing home sales were up 7.6 percent from March. But there still are plenty for sale. At the end of April, there was an 8.4-month supply of homes nationwide.
Not everyone believes the lower rates will boost the number of home sales. Unemployment remains high, and qualifying for a mortgage is not as easy as it once was.
Nevertheless, the low rates and large number of homes for sale scream opportunity for buyers. But they need to act quickly, says Cohn. While the Wall Street Journal reported that industry-watchers are saying rates could go as low as 4.5 percent this summer, Cohn says no one knows how this is going to play out.
"The mortgage rates are based on the economy, and the economy is volatile right now," she says. "When we start seeing positive signs in Europe, the rates will start going up again."
Cohn's advice: Stay on top of the news. "If the markets are volatile, the rates can change more than once a day.
"Before they head north," she says, "take advantage of the volatility."
Europe just delivered the U.S. housing market a pleasant surprise for summer. Thanks to the financial chaos across the pond, experts are forecasting that mortgage rates may fall to 4.5 percent over the next few months, rather than shoot up to 6 percent, as previously predicted.
This could provide the historic opportunity many buyers have been waiting for.
The lower rates are good news for home sellers, as well. When the Obama administration's tax credit expired at the end of April, some real estate brokers were convincing sellers to reduce asking prices by $8,000 -- the same amount first-time buyers might have gotten through tax credits in the preceding months. With reduced rates, the cost of a home goes down, and sellers might be able to sell closer to their original asking price.
It's also a reversal of fortune for the more than half of all borrowers with 30-year fixed-rate mortgages of 5.75 percent or higher, who might be able to refinance their rates at more than a full percentage point. Furthermore, more people will qualify for mortgages, and others might find they qualify for a slightly larger loan.
"The lower the rate, the more affordable the mortgage payment; it's a great buying opportunity," Melissa Cohn, president of mortgage broker Manhattan Mortgage Co., in New York City, told HousingWatch.
Speaking from her office Monday afternoon, Cohn added, "We are definitely busy. People want to take advantage of this opportunity. I've been in business for 25 years; in terms of fixed rates, this is the lowest I have seen."
Mortgage rates declined this week, upending predictions that rates already had hit rock-bottom and would be increasing again as the Federal Reserve's mortgage-securities purchase program ended. The reason: Investors from around the world who are finding refuge in U.S. Treasury bonds.
Amid concerns about the global economy, America is looking like a safe bet in terms of investment. The rates on the bonds decrease when there is more investment; when Treasury bonds drop, so do mortgage rates.
This wasn't something people were predicting a month ago, when projections were for interest rates to go up, says Manhattan Mortgage's Cohn. On Monday, the average rate for a 30-year, fixed-rate loan was 4.87 percent.
In late March, according to Freddie Mac, the average 30-year mortgage rate was 4.9 percent. By the week of April 8, the rate had gone up to 5.21 percent, then dropped slightly in the following weeks.
The rush to qualify for the tax credit made April a big one for home sales -- existing home sales were up 7.6 percent from March. But there still are plenty for sale. At the end of April, there was an 8.4-month supply of homes nationwide.
Not everyone believes the lower rates will boost the number of home sales. Unemployment remains high, and qualifying for a mortgage is not as easy as it once was.
Nevertheless, the low rates and large number of homes for sale scream opportunity for buyers. But they need to act quickly, says Cohn. While the Wall Street Journal reported that industry-watchers are saying rates could go as low as 4.5 percent this summer, Cohn says no one knows how this is going to play out.
"The mortgage rates are based on the economy, and the economy is volatile right now," she says. "When we start seeing positive signs in Europe, the rates will start going up again."
Cohn's advice: Stay on top of the news. "If the markets are volatile, the rates can change more than once a day.
"Before they head north," she says, "take advantage of the volatility."
Friday, May 21, 2010
Housing Bounce Starts in 2011, Says Index of Top Experts
If you're keeping track of all the real estate surveys out there, add this one to your list: MacroMarkets, the research firm founded by housing sage Robert Shiller, has started releasing a monthly "home expectations survey" that asks a hundred of the country's top housing analysts to forecast prices five years out.
And guess what? May's consensus predicts national home prices, as measured by the benchmark S&P/Case-Shiller Index, to start recovering next year. That might seem optimistic, as the index has been sinking steadily over the past three years, with only one uptick posted so far (in February's data, the latest available).
After a fat zero predicted for this year's price gain, the survey sees 2 percent growth next year, a pace which adds up to a cumulative 12.36 percent by the end of 2014. The range of predictions for 2014 runs from a depressing -17.99 percent to a giddy +36.74 percent.
"This is not necessarily a resounding indicator of a raging bull market, but it's a more optimistic projection than we would have seen ... six months ago," says Terry Loebs, MacroMarkets managing director and co-developer of the survey.
But do these numbers mean anything?
As Henry Blodget pointed out on Business Insider: "the vast majority of the analysts in the survey didn't see a crash coming (ever) in 2007." He adds that such a speedy recovery within five years of a bust would be unusual. "Usually after a bubble bursts, prices fall way below trend for a while. If this forecast is right, they won't even have fallen back to trend, let alone below it," he writes.
Loebs counters that old rules don't apply. "We are in uncharted territory," he says. "We're coming off of a historic bubble and an historic series of government programs to support the housing market."
And of course, everyone has a good reason for their forecast.
The Wall Street Journal's James Hagerty spoke to economists on either end of the scale. Gary Shilling, who runs a firm that offers economic advice to"'leading corporations" and institutional investors, offered the most bearish prediction: He is concerned about oversupply of inventory, including those from looming foreclosures (read: shadow inventory). On the other side, James LaVorgna, a Deutsche Bank economist whose prediction was the most bullish, argued that a job market rebound would spark enough demand.
My view: MacroMarket's survey is worth tracking, even if just as an indicator of sentiment. The firm created the influential S&P/Case-Shiller Index and its co-founder, Robert Shiller, is the same Yale economist who warned about the housing bubble long before it was fashionable.
Hopefully this survey will make it easier to spot the Shillers of the next housing bubble. (Pun fully intended.)
by Dalia Fahmy
And guess what? May's consensus predicts national home prices, as measured by the benchmark S&P/Case-Shiller Index, to start recovering next year. That might seem optimistic, as the index has been sinking steadily over the past three years, with only one uptick posted so far (in February's data, the latest available).
After a fat zero predicted for this year's price gain, the survey sees 2 percent growth next year, a pace which adds up to a cumulative 12.36 percent by the end of 2014. The range of predictions for 2014 runs from a depressing -17.99 percent to a giddy +36.74 percent.
"This is not necessarily a resounding indicator of a raging bull market, but it's a more optimistic projection than we would have seen ... six months ago," says Terry Loebs, MacroMarkets managing director and co-developer of the survey.
But do these numbers mean anything?
As Henry Blodget pointed out on Business Insider: "the vast majority of the analysts in the survey didn't see a crash coming (ever) in 2007." He adds that such a speedy recovery within five years of a bust would be unusual. "Usually after a bubble bursts, prices fall way below trend for a while. If this forecast is right, they won't even have fallen back to trend, let alone below it," he writes.
Loebs counters that old rules don't apply. "We are in uncharted territory," he says. "We're coming off of a historic bubble and an historic series of government programs to support the housing market."
And of course, everyone has a good reason for their forecast.
The Wall Street Journal's James Hagerty spoke to economists on either end of the scale. Gary Shilling, who runs a firm that offers economic advice to"'leading corporations" and institutional investors, offered the most bearish prediction: He is concerned about oversupply of inventory, including those from looming foreclosures (read: shadow inventory). On the other side, James LaVorgna, a Deutsche Bank economist whose prediction was the most bullish, argued that a job market rebound would spark enough demand.
My view: MacroMarket's survey is worth tracking, even if just as an indicator of sentiment. The firm created the influential S&P/Case-Shiller Index and its co-founder, Robert Shiller, is the same Yale economist who warned about the housing bubble long before it was fashionable.
Hopefully this survey will make it easier to spot the Shillers of the next housing bubble. (Pun fully intended.)
by Dalia Fahmy
Monday, April 19, 2010
Thinking About Refinancing? You May Want to Get Off the Fence!
By JENNIFER OLDHAM
With mortgage rates bouncing around like a child's plastic yo-yo, pulled down by government intervention in the housing market and yanked back up again by a strengthening economy, experts say now is the moment for homeowners to refinance.
Home Description: Select One Single Family Multi-Family Condominium Townhouse Mobile Home Manufactured Home Your Credit Profile: Select One Excellent Good Fair Needs Improvement Poor Advertisement Homeowners have been spoiled over the last decade with historically low mortgage rates. But that's about to change, now that the market is believed to be bottoming out.
"We're probably at the trough, or not far from the trough, in terms of rates," says Sam Khater, a senior economist with First American CoreLogic. "Any time rates are in the 5% range they are very low relative to history. We forget that the longer-term average for a 30-year fixed is 7%."
Homeowners With Adjustable-Rate Mortgages
Among the homeowners who should seriously consider refinancing now are folks who are in the unusual situation of holding an exotic adjustable-rate mortgage or ARM, that is currently clocking in at rates as low as 3%. Another group who should act now: homeowners with option ARMS that are due to adjust in the next two years, says Greg McBride, a senior financial analyst at Bankrate.com. While refinancing now might seem counterintuitive, it can help these homeowners from adjusting to much higher rates next year.
Compare Rates in Your Area
Select Your State Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming "Doing that for many borrowers will mean trading away a very low rate for a higher rate right now," McBride says. "A lot of people, they will say 'Wait a minute, why trade in a rate at 3.5% for one at 5.5%?' Well, you're trading away a 3.5% to lock in at a 5.5%, so you're 3.5% doesn't turn into a 7.5% a few years from now--which is very possible."
It's difficult to say how many borrowers have adjustable-rate mortgages like these, although statistics show that the dollar amount of these loans that are scheduled to reset over the next few years is as high as $20 billion a month, says McBride.
Some buyers understand the high stakes in the mortgage interest rate guessing game. David Shaw, the chief executive officer of Quantum Health, recently refinanced the interest-only mortgage on his three-bedroom, two-bath, 1,577-square-foot home near Venice Beach. Calif. to avoid paying higher rates when it adjusted a few years from now.
"I had a five-year-interest-only" loan, Shaw says, "and thought that since rates are very low now, but would be going up soon, I'd be better off with a 30-year fixed. I got it at 4.75%."
Like Shaw, many folks are already looking to cash in on historic low rates, with mortgage purchase applications increasing last month to their highest level since last Halloween. Many homebuyers are rushing to close loans before the expiration of the government's homebuyer tax credit program this month.
But what the government giveth it also taketh away. As rates ticked upward in early April, the federal government ended a program to buy loans from mortgage giants Freddie Mac and Fannie Mae, according to a weekly survey by the Mortgage Bankers Association. This massive infusion of cash into the market helped drive rates to their lowest level in three decades. Now that the cash is drying up rates are expected to rise.
Homeowners with Underwater Loans
Another group that should refinance sooner rather than later are homeowners with "underwater" mortgages that owe more on the loan than the home is worth.
Ideal candidates for refinancing are those who plan to stay in their homes for at least two to four years and who have "reasonable equity" of around 10%, together with an interest rate north of 6.6%, said Keith Gumbinger, a vice president at HSH Associates.
An expansion of the federal government's Home Affordable Modification Program announced last month allows investors to refinance these borrowers into loans backed by the Federal Housing Administration. There are several steps homeowners should take if they're considering refinancing. If prices in your area have already tumbled and there's more than a six-month supply of homes on the market, analysts say it's not worth waiting for even lower rates because lagging values are likely to drive down your equity further.
Bankrate.com offers a search engine to uncover the lowest interest rates in your area and what terms are required to qualify. The web site also has calculators that allow homeowners to figure out how making the change from an adjustable to a fixed-rate mortgage would impact their monthly payment.
Even those who are underwater--and there are many, with one in four of the nation's homeowners currently owing more on their home than it's worth--may qualify for a refinancing by taking advantage of the federal government's loan modification program. To find out if you may qualify, visit http://makinghomeaffordable.gov/eligibility.html.
Why it's Time to Refinance Now
Many homeowners have already jumped on the refinancing bandwagon. Over three million of them took advantage of federal programs--and the lowest average annual mortgage rates since reliable tracking began in 1971— in 2009. Borrowers who have refinanced have typically saved $108 a month in mortgage payments, according to a report by First American CoreLogic.
Kevin Wolf, the public relations rep says he didn't start the refinancing process sooner because he was concerned his home would appraise for less last year and he wanted to wait to finalize this year's taxes. He hopes to save at least $500 a month on his mortgage—which will come in handy with two kids in school starting this fall.
"Priority number one is to lower monthly payments," Wolf said. "With rates low and likely to climb, I figure now is the time to re-fi."
With mortgage rates bouncing around like a child's plastic yo-yo, pulled down by government intervention in the housing market and yanked back up again by a strengthening economy, experts say now is the moment for homeowners to refinance.
Home Description: Select One Single Family Multi-Family Condominium Townhouse Mobile Home Manufactured Home Your Credit Profile: Select One Excellent Good Fair Needs Improvement Poor Advertisement Homeowners have been spoiled over the last decade with historically low mortgage rates. But that's about to change, now that the market is believed to be bottoming out.
"We're probably at the trough, or not far from the trough, in terms of rates," says Sam Khater, a senior economist with First American CoreLogic. "Any time rates are in the 5% range they are very low relative to history. We forget that the longer-term average for a 30-year fixed is 7%."
Homeowners With Adjustable-Rate Mortgages
Among the homeowners who should seriously consider refinancing now are folks who are in the unusual situation of holding an exotic adjustable-rate mortgage or ARM, that is currently clocking in at rates as low as 3%. Another group who should act now: homeowners with option ARMS that are due to adjust in the next two years, says Greg McBride, a senior financial analyst at Bankrate.com. While refinancing now might seem counterintuitive, it can help these homeowners from adjusting to much higher rates next year.
Compare Rates in Your Area
Select Your State Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming "Doing that for many borrowers will mean trading away a very low rate for a higher rate right now," McBride says. "A lot of people, they will say 'Wait a minute, why trade in a rate at 3.5% for one at 5.5%?' Well, you're trading away a 3.5% to lock in at a 5.5%, so you're 3.5% doesn't turn into a 7.5% a few years from now--which is very possible."
It's difficult to say how many borrowers have adjustable-rate mortgages like these, although statistics show that the dollar amount of these loans that are scheduled to reset over the next few years is as high as $20 billion a month, says McBride.
Some buyers understand the high stakes in the mortgage interest rate guessing game. David Shaw, the chief executive officer of Quantum Health, recently refinanced the interest-only mortgage on his three-bedroom, two-bath, 1,577-square-foot home near Venice Beach. Calif. to avoid paying higher rates when it adjusted a few years from now.
"I had a five-year-interest-only" loan, Shaw says, "and thought that since rates are very low now, but would be going up soon, I'd be better off with a 30-year fixed. I got it at 4.75%."
Like Shaw, many folks are already looking to cash in on historic low rates, with mortgage purchase applications increasing last month to their highest level since last Halloween. Many homebuyers are rushing to close loans before the expiration of the government's homebuyer tax credit program this month.
But what the government giveth it also taketh away. As rates ticked upward in early April, the federal government ended a program to buy loans from mortgage giants Freddie Mac and Fannie Mae, according to a weekly survey by the Mortgage Bankers Association. This massive infusion of cash into the market helped drive rates to their lowest level in three decades. Now that the cash is drying up rates are expected to rise.
Homeowners with Underwater Loans
Another group that should refinance sooner rather than later are homeowners with "underwater" mortgages that owe more on the loan than the home is worth.
Ideal candidates for refinancing are those who plan to stay in their homes for at least two to four years and who have "reasonable equity" of around 10%, together with an interest rate north of 6.6%, said Keith Gumbinger, a vice president at HSH Associates.
An expansion of the federal government's Home Affordable Modification Program announced last month allows investors to refinance these borrowers into loans backed by the Federal Housing Administration. There are several steps homeowners should take if they're considering refinancing. If prices in your area have already tumbled and there's more than a six-month supply of homes on the market, analysts say it's not worth waiting for even lower rates because lagging values are likely to drive down your equity further.
Bankrate.com offers a search engine to uncover the lowest interest rates in your area and what terms are required to qualify. The web site also has calculators that allow homeowners to figure out how making the change from an adjustable to a fixed-rate mortgage would impact their monthly payment.
Even those who are underwater--and there are many, with one in four of the nation's homeowners currently owing more on their home than it's worth--may qualify for a refinancing by taking advantage of the federal government's loan modification program. To find out if you may qualify, visit http://makinghomeaffordable.gov/eligibility.html.
Why it's Time to Refinance Now
Many homeowners have already jumped on the refinancing bandwagon. Over three million of them took advantage of federal programs--and the lowest average annual mortgage rates since reliable tracking began in 1971— in 2009. Borrowers who have refinanced have typically saved $108 a month in mortgage payments, according to a report by First American CoreLogic.
Kevin Wolf, the public relations rep says he didn't start the refinancing process sooner because he was concerned his home would appraise for less last year and he wanted to wait to finalize this year's taxes. He hopes to save at least $500 a month on his mortgage—which will come in handy with two kids in school starting this fall.
"Priority number one is to lower monthly payments," Wolf said. "With rates low and likely to climb, I figure now is the time to re-fi."
Tuesday, April 13, 2010
Wednesday, April 7, 2010
Julien Duret, Mystery Man Who Helped Rescue Bridget Sheridan from New York's East River, Is Found in France - AOL News
Who said the French don't like the Americans? Great story & a great samaritan!
Julien Duret, Mystery Man Who Helped Rescue Bridget Sheridan from New York's East River, Is Found in France - AOL News
Julien Duret, Mystery Man Who Helped Rescue Bridget Sheridan from New York's East River, Is Found in France - AOL News
Friday, April 2, 2010
Monday, March 29, 2010
Wednesday, March 24, 2010
Some dollar store stars that last for years
If you haven't been, then please go! Please pass this on to your clients that buy rental properties & need to fill them up with everything! It's a great place for cleaning products to housewares! Take a look for yourself!
Some dollar store stars that last for years
Some dollar store stars that last for years
Thursday, March 11, 2010
Tuesday, March 9, 2010
Monday, March 8, 2010
Friday, March 5, 2010
Wednesday, March 3, 2010
aolhealth Tweets
Important info for Men & Women. Some supplements are uneccessary and some are essential to take everyday. Please take a minute to read. You will be doing yourself a favor!
aolhealth Tweets
aolhealth Tweets
Monday, March 1, 2010
It's All a SCAM, BEWARE, Please!
Here are the most frequent scamming targets – eBay is No. 1. And below are some classic schemes that just keeping on working for the crooks who rely on them:
Money from Nigeria (or Cleveland): Unless you really do have an aunt in Nigeria, chances are the attorney trying to reach you and give you millions is a crook. "Nigeria is a lawless place and these Nigerians are seriously bad people," Yoder says. They are members of organized crime groups that have been running these scams for years, and even though the whole concept has become a joke, they still keep making money.
Stuck in a foreign country and needing help. These crooks break into your Facebook or Twitter account, impersonate a friend of yours and ask for money. Yoder says, "It's very convincing."
Orders to update your bank, Paypal or eBay account. Look hard at the address this kind of appeal is coming from. The first thing to the right of www. should be the name of the legitimate financial company you do business with. If it's not, hit delete as quickly as possible. "Particularly indicative of evil is a numerical address," Yoder says.
Requests to change your password: Whether they come from Facebook, MySpace, a bank or even your company's IT department, be suspicious.
Requests to open an attachment. Even if it is someone you know, this could be trouble, especially if the attachment ends in .exe or .pif
How to stop phishermen from catching
Money from Nigeria (or Cleveland): Unless you really do have an aunt in Nigeria, chances are the attorney trying to reach you and give you millions is a crook. "Nigeria is a lawless place and these Nigerians are seriously bad people," Yoder says. They are members of organized crime groups that have been running these scams for years, and even though the whole concept has become a joke, they still keep making money.
Stuck in a foreign country and needing help. These crooks break into your Facebook or Twitter account, impersonate a friend of yours and ask for money. Yoder says, "It's very convincing."
Orders to update your bank, Paypal or eBay account. Look hard at the address this kind of appeal is coming from. The first thing to the right of www. should be the name of the legitimate financial company you do business with. If it's not, hit delete as quickly as possible. "Particularly indicative of evil is a numerical address," Yoder says.
Requests to change your password: Whether they come from Facebook, MySpace, a bank or even your company's IT department, be suspicious.
Requests to open an attachment. Even if it is someone you know, this could be trouble, especially if the attachment ends in .exe or .pif
How to stop phishermen from catching
Wednesday, February 24, 2010
Thursday, February 18, 2010
Wednesday, February 17, 2010
Slashfood Tweets
Slashfood Tweets
Sore Throat Soother!
Check this out for a sore throat! It works for me. I have bronchitis & nothing better than this easy to make soothing beverage to drink hot or cold!
Sore Throat Soother!
Check this out for a sore throat! It works for me. I have bronchitis & nothing better than this easy to make soothing beverage to drink hot or cold!
Thursday, February 11, 2010
DROP IN FORECLOSURES IN THE LAST MONTH!
Foreclosure activity in Riverside County showed a double-digit percentage drop last month as fewer properties received filings from lenders, a real estate tracking firm reported today.
A total 6,991 mortgage default notices, auction sale notices and bank repossessions were recorded in Riverside County in January -- a 14 percent drop from December and a 29 percent decrease from a year ago, according to Irvine- based RealtyTrac.
With 1 in 110 households in default last month, the county had the fifth-highest foreclosure rate in the state, down from the third-highest in December, figures showed.
Stanislaus County was No. 1, followed by San Joaquin County at No. 2 and San Bernardino County at No. 3, just ahead of Merced County, according to data.
RealtyTrac CEO James J. Saccacio said the dip in foreclosures was similar to what occurred last winter.
"If history repeats itself, we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans, where neither existing loan modification programs or the new short sale and deed-in-lieu of foreclosure alternatives work," he said.
Nationally, California ranked No. 3 in foreclosure activity in January, recording 71,817 filings -- 1 for every 187 households -- down 11 percent from December and 6 percent from a year ago, according to RealtyTrac.
Nevada was No. 1, with 1 in 95 households in default, followed by Arizona with 1 in 129, data showed.
In Riverside County, notices of default, generally the first stage in the foreclosure process, sank by the widest margin of all categories, with 2,185 filings in January compared to 2,770 in December, according to figures.
****This article was from the February 11th issue of The Desert Sun.
A total 6,991 mortgage default notices, auction sale notices and bank repossessions were recorded in Riverside County in January -- a 14 percent drop from December and a 29 percent decrease from a year ago, according to Irvine- based RealtyTrac.
With 1 in 110 households in default last month, the county had the fifth-highest foreclosure rate in the state, down from the third-highest in December, figures showed.
Stanislaus County was No. 1, followed by San Joaquin County at No. 2 and San Bernardino County at No. 3, just ahead of Merced County, according to data.
RealtyTrac CEO James J. Saccacio said the dip in foreclosures was similar to what occurred last winter.
"If history repeats itself, we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans, where neither existing loan modification programs or the new short sale and deed-in-lieu of foreclosure alternatives work," he said.
Nationally, California ranked No. 3 in foreclosure activity in January, recording 71,817 filings -- 1 for every 187 households -- down 11 percent from December and 6 percent from a year ago, according to RealtyTrac.
Nevada was No. 1, with 1 in 95 households in default, followed by Arizona with 1 in 129, data showed.
In Riverside County, notices of default, generally the first stage in the foreclosure process, sank by the widest margin of all categories, with 2,185 filings in January compared to 2,770 in December, according to figures.
****This article was from the February 11th issue of The Desert Sun.
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