Comments on: Some good news http://www.realcentralva.com/2008/04/21/some-good-news/ Tracking Charlottesville's Real Estate Market since 2005 Sun, 12 Feb 2012 23:56:00 +0000 hourly 1 http://wordpress.org/?v= By: Where’s Charlottesville in the Case-Shiller index? | Real Central VA http://www.realcentralva.com/2008/04/21/some-good-news/#comment-15705 Where’s Charlottesville in the Case-Shiller index? | Real Central VA Wed, 23 Apr 2008 16:05:31 +0000 http://www.realcentralva.com/2008/04/21/some-good-news/#comment-15705 [...] Huh. Thanks to the recent commenter for this: [...] [...] Huh. Thanks to the recent commenter for this: [...]

]]> By: Declining Market--for months to come http://www.realcentralva.com/2008/04/21/some-good-news/#comment-15697 Declining Market--for months to come Wed, 23 Apr 2008 01:14:27 +0000 http://www.realcentralva.com/2008/04/21/some-good-news/#comment-15697 Nationally, 18% of current homesellers have negative equity. And today, Tuesday, there's this: 'Yale economist Robert Shiller, who developed one of the widely followed gauges of home prices, said in a speech Tuesday that home prices, which have already fallen about 15 percent from their peak in 2006, may fall further than the 30 percent drop experienced during the Great Depression of the 1930s, so far the biggest decline in home prices in the country. "Basically we are in uncharted territory," Shiller said, noting that the 85 percent rise in home prices from 1997 to 2006 after adjusting for inflation had represented the biggest housing boom in U.S. history, so the fall in prices could be just as historic.' From the AP newswire. March's existing home sales are down. And I'm part of the problem. I'm waiting to buy. Perhaps C'ville won't be quite as impacted as other areas of the county...but still, there's so much inventory, prices are headed down. Nationally, 18% of current homesellers have negative equity.

And today, Tuesday, there’s this:

‘Yale economist Robert Shiller, who developed one of the widely followed gauges of home prices, said in a speech Tuesday that home prices, which have already fallen about 15 percent from their peak in 2006, may fall further than the 30 percent drop experienced during the Great Depression of the 1930s, so far the biggest decline in home prices in the country.

“Basically we are in uncharted territory,” Shiller said, noting that the 85 percent rise in home prices from 1997 to 2006 after adjusting for inflation had represented the biggest housing boom in U.S. history, so the fall in prices could be just as historic.’

From the AP newswire.

March’s existing home sales are down. And I’m part of the problem. I’m waiting to buy.

Perhaps C’ville won’t be quite as impacted as other areas of the county…but still, there’s so much inventory, prices are headed down.

]]> By: Matt Hodges http://www.realcentralva.com/2008/04/21/some-good-news/#comment-15678 Matt Hodges Tue, 22 Apr 2008 10:48:52 +0000 http://www.realcentralva.com/2008/04/21/some-good-news/#comment-15678 When the market moves during the day, that is - bond yields shift either positive or negative by a significant amount, lenders tend to reprice. They do so for two good reasons: 1. Stay competitive in the market by reducing rates, as the other lenders are doing the same (dropping yields). 2. Protect their P&L by pushing rates up when their investors demand a higher rate of return (increasing yields). www.Bloomberg.com is an excellent site to follow the 10 year bond yields during trading hours. When the market moves during the day, that is – bond yields shift either positive or negative by a significant amount, lenders tend to reprice. They do so for two good reasons: 1. Stay competitive in the market by reducing rates, as the other lenders are doing the same (dropping yields). 2. Protect their P&L by pushing rates up when their investors demand a higher rate of return (increasing yields). http://www.Bloomberg.com is an excellent site to follow the 10 year bond yields during trading hours.

]]> By: Jim Duncan http://www.realcentralva.com/2008/04/21/some-good-news/#comment-15666 Jim Duncan Tue, 22 Apr 2008 02:20:24 +0000 http://www.realcentralva.com/2008/04/21/some-good-news/#comment-15666 It's a little thing, but it's a sign that a lender thinks that the market is improving. Of course, I posted this before I saw the new <a href="http://www.nytimes.com/2008/04/22/business/22bank.html?ex=1366516800&en=e91448a0a3739cfb&ei=5124&partner=permalink&exprod=permalink" rel="nofollow">today's write-downs</a> this morning. It’s a little thing, but it’s a sign that a lender thinks that the market is improving.

Of course, I posted this before I saw the new today’s write-downs this morning.

]]> By: Anonymous Coward http://www.realcentralva.com/2008/04/21/some-good-news/#comment-15664 Anonymous Coward Mon, 21 Apr 2008 23:26:12 +0000 http://www.realcentralva.com/2008/04/21/some-good-news/#comment-15664 Jim -- I'm sorry if I'm just missing it here, but what's the good news? Is the SunTrust memo commenting on better rates? Or better sales/more transactions? Can't tell from the memo. Jim — I’m sorry if I’m just missing it here, but what’s the good news? Is the SunTrust memo commenting on better rates? Or better sales/more transactions? Can’t tell from the memo.

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