New FHA Rules Make Life Tough For Condo Sellers
October 7, 2009
Beginning, October 1st, the FHA has instituted new rules around loans on condos. The full letter is embedded below. The new rules are pretty dramatic, particularly for new condo and vacation-unit developments seeking FHA approval. The rules require at least 50% of the units in the project to have been sold for new product, and [...]
Read More >>Fixing The Fundamental Problem
August 26, 2009
The tax credit offered earlier this year pulled homebuyers from the sidelines back into the state’s beleaguered market for new homes but they have retreated since the incentive lapsed last month.
Our homebuilders reported a significant drop in traffic last month, largely due to the state closing the window on the homebuyer tax credit,” said Robert [...]
Government Unveils Its Plan For Housing
February 18, 2009
Obama and the U.S. Treasury have revealed their housing plan, and its both extensive and wildly expensive. The government is putting aside $75B to help 9 million homeowners stay in their homes. In addition, $200 billion in losses will be absorbed at Fannie Mae and Freddie Mac.
The program requirements will be laid out in detail [...]
NAHB/Wells Fargo’s July Housing Index Numbers Eclipse June’s All-Time Low
July 29, 2008
Last month, the NAHB (National Association of Home Builders)/Wells Fargo Housing Index reached an all time low of 18. July’s numbers were released last week, and they fell a further to points to 16. Anything north of 50 is considered good; and it is very obvious we’re very far off that mark.
The outlook for the future [...]
National Association of Home Builders/Wells Fargo Sentiment Index Reaches All-Time Low
June 17, 2008
The NAHB/Wells Fargo Sentiment Index guages the market sentiment of builders of single-family homes. The index has been tracking this data for over twenty years and the data they released yesterday indicates that sentiment is at an all-time low of 18. 50 is the median number, with any number over that indicates that more builders [...]
Read More >>Wachovia Issues Report on Commercial Real Estate
June 16, 2008
Wachovia issued a report earlier this month on the state of commercial real estate. Generally speaking, they are bearish on almost all asset classes. Citing a tight lending market, oil prices, slowing demand, and other factors, the anticipation is that the run up in asset prices will continue the reverse which was initiated over the [...]
Read More >>Housing Auction Reveals Pockets of Weakness
October 14, 2007
In a two-part series of articles, the San Jose Mercury News puts on display the sheer impact the downturn in the housing market has had on some greater Bay Area neighborhoods.
The first article discussed the jitters homebuyers have after Anderson Homes, the builder of their neighborhood has decided to auction of the remaining homes in the [...]
