Updated: Tuesday, July 08, 2008
American Dream Deferred
Call it the American Dream Deferred. Home prices are down, but not enough to offset shrinking incomes, higher interest rates, tight credit and the economic pressures of fuel and food costs.
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Realty Viewpoint: Housing Price Declines Flatten
It looks like the beginning of the end to one of the worst housing markets ever. Although inventories are still rising, home prices declined only half a percent, and only eight-tenths of a percent for the past three months, according to the Real-Time Housing Market Report, published by Altos Research.
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Dump Your Slump
Even top producing agents have slow days 8230; or weeks or months. Maybe the economy is slow or its that time of year. Perhaps you feel as though you have been saddled with some poor prospects or that you are just another victim of the mortgage meltdown.
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Washington Report: Nationwide Registration?
With the Senate poised to pass major housing legislation this week -- even as early as tomorrow -- critics are taking a harder look at some of the bills lesser-known provisions. Though its details have gotten almost no media coverage, the legislation would create a vast new nationwide system of licensing and registration.
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Interest Rate Update
Todays Interest Rates from Realty Times are based on a 30 year amortization rate, with good credit and no origination fees. Early indications are that investors are again betting on Wall Street, pulling money out of mortgage bonds and into the stock market.
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Realty Viewpoint: Discount Broker Leaves Sellers Stranded
Rumors were flying last week that Iggys House, a discount broker is out of business. If theyre not, they sure are acting like it. Iggys House was an IPO-bound company founded by former Wall Street hotshots who based their business model on cutting real estate commissions to zero to put sellers homes into multiple listing services. Which just goes to show -- you get what you pay for.
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Many Metros to See No Job Growth as Mortgage Crisis Worsens
Builders, plan accordingly. A new economic report during the U.S. Conference of Mayors Annual Meeting in Miami reveals that U.S. economic growth for 2008 has weakened considerably, while unemployment and consumer prices have risen sharply. According to the report, a sustained recovery is not expected until mid-2009 at the earliest.
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Defining Your Service Standards
By delivering excellent service on a consistent and ongoing basis, your current client relationships will spawn repeat business and referrals that draw new clients into your business.
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Real Estate Outlook: Resales Up, Rate Dip
Definite signs of improvement continue to pop up in real estate around the country. Condo sales also jumped five and a half percent nationwide. Sales of existing homes were up even in some of the hardest hit local markets.
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