Analyst: Home price declines coming, but that could be a good thing

If banks ramp up next year and begin moving backlogged foreclosure inventory onto the market, homeowners and buyers could see further home price drops and those declines could go as deep as 10% to 15%, said Lance Roberts, CEO, economist and chief strategist at Streettalk Advisors.
Yet, Roberts in his forecast for 2012 adds a bit [...] Analyst: Home price declines coming, but that could be a good thing:

Answers From a Dog Expert: Part 2 - NYTimes.com

"The second set of answers to readers’ questions to our visiting expert, William Berloni, a theatrical animal trainer and the director of animal behavior for the Humane Society of New York."
Answers From a Dog Expert: Part 2 - NYTimes.com:
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FHA says: Flip that house

Flippers, the real estate investors who buy homes on the cheap and quickly resell them at a profit, just got a reprieve from the Federal Housing Administration. *** FHA says: Flip that house:

Mortgages: Mortgages — How to Get a Rock-Bottom Rate

Rates are just about as low as they’ve ever been. But you still need to have all your ducks in a row to take full advantage. **** Mortgages: Mortgages — How to Get a Rock-Bottom Rate:

Buyers, sellers continue to butt heads on home prices

Most Americans feel now is a good time to buy a home, but those who want to sell are having difficulty finding buyers at desired prices, causing seller sentiment to fall to record lows.
The low opinion is causing a wide gap between homebuying and home selling that won't narrow for at least the next five [...]          Buyers, sellers continue to butt heads on home prices:

Training a Cat to Walk on a Leash

A growing number of animal behaviorists believe that training and walking cats is not only possible, but good for the cat. *** Training a Cat to Walk on a Leash:

On Location: In Costa Rica, a House of Palms, Tiles and Cane — On Location

Seeking local authenticity in a lush slice of Costa Rica, a Dallas couple constructed a multi-building family home. *** On Location: In Costa Rica, a House of Palms, Tiles and Cane — On Location:

South Florida Developers Poised for Birth of Casino Gambling - NYTimes.com

"MIAMI — When the Florida Legislature returns from its holiday recess, it will consider a bill to allow three Las Vegas-style casino resorts to be built in the southern part of the state. Lobbyists for the gambling industry have swarmed Tallahassee, trying to ensure that the bill passes." South Florida Developers Poised for Birth of Casino Gambling - NYTimes.com:

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Foreclosure free ride: 3 years, no payments

Delinquent borrowers facing foreclosure are learning that they can stay in their homes for years, as long as they're willing to put up a fight. Foreclosure free ride: 3 years, no payments:

7 Actions for Becoming More Like Yourself in 2012

 The way I see it, there are two reasons we women travel through life losing sight of ourselves. Our diffuse awareness and our other-focused prioritizing. We aren't likely to change, but when we get conscious and intentional, we make huge shifts in the balance of our priorities.  Read all 7 Things to do! 7 Actions for Becoming More Like Yourself in 2012:

Can Lower Interest Rate Policies Resolve The Crises? - Forbes

Can Lower Interest Rate Policies Resolve The Crises? - Forbes: "Of course, looser monetary policies of the central bank often do produce bull markets. However, that’s when the shift from tight to loose money comes. This year, we haven’t had tight money. So they are going from loose to looser money. That’s not the same thing."

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Brazil Overtakes Britain To Become World's Sixth Largest Economy

Brazil Overtakes Britain To Become World's Sixth Largest Economy: Brazil's once-robust economy slowed in the third quarter, but the country is the the world's 6th largest economy.

Big City: Did You Give the Doorman Enough?

Big City: Did You Give the Doorman Enough?: The tips given to doormen are an example of the reliance of the city’s economy on a culture of determined generosity, from the absurdities of Wall Street bonuses on down.

Logging In With a Touch or a Phrase (Anything but a Password)

Logging In With a Touch or a Phrase (Anything but a Password): Researchers are focusing on making passwords simpler, more secure, even automatic, like a device that can recognize your style of writing or keystroke.

New home sales increase 1.6%

New home sales increase 1.6%: New single-family home sales edged up 1.6% in November when compared to the previous month, a government report said Friday.
The Commerce Department said home sales hit an annual rate of 315,000 units, up from 310,000 in October and 287,000 in November 2010.
Meanwhile, the median sales price for a new home in November hovered at $214,000, [...]

Casino fight goes local. Published in the12/23/2011edition of The Pilot

Casino fight goes local.  "John Ribeiro, head of Repeal the Casino Deal, outlined consumer protection concerns the law presents. Once established, casinos will be money lenders, on equal footing with credit unions. They will have access to gamblers' personal financial data, such as the amount of equity they have in their homes. Casino owners could use that information to target patrons who have more money to lose. Those individuals could receive free drinks or other enticements to gamble longer."

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The Most Outrageous Home Sales Of 2011

The Most Outrageous Home Sales Of 2011: From record -breaking sales to a record-breaking foreclosure, these real estate transaction were the year's most noteworthy.

Jason Alderman: Credit Card Stolen? Here's What You Do

"Despite high-profile media attention, the odds of having your credit or debit card number stolen by crooks remains at historically low levels. That said, it's always good to know what to do in case lightening does strike and someone fraudulently uses your card. Left unchecked," Credit Card Stolen? Here's What You Do:

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A Mistletoe Shortage Threatens a Holiday Kissing Tradition

A Mistletoe Shortage Threatens a Holiday Kissing Tradition: A relentless drought in Texas and adverse weather elsewhere has caused a mistletoe shortage this holiday season. But some think its day has passed anyway.

Holiday season marked by record low interest rates

Holiday season marked by record low interest rates: Mortgage rates remain near all-time lows with the 30-year, fixed-rate mortgage setting a new record with an interest rate of 3.91%, Freddie Mac said Thursday. That's down from 3.94% a week ago.
Meanwhile, the 15-year, FRM remained at 3.21%, and the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.85% this week, down from 2.86% last week.
Freddie Mac [...]

Homebuilders push stocks up 3%, Dow above 12,000

Homebuilders push stocks up 3%, Dow above 12,000: Stocks jumped Tuesday with the Dow Jones Industrial Average back above 12,000, driven in part by news of an increase in housing starts.
The Dow increased 337.32 points, or 2.87%, to close at 12,103.58. Nasdaq and the S&P 500 rose 80.59 and 35.95 points, or 3.19% and 2.98%, respectively.
Homebuilder stocks showed significant gains, including PulteGroup (PHM: [...]

Bottom Line - Housing market improves, but foreclosures spoil the party

"Five years into the worst housing depression since the 1930s, the latest monthly data from the Census Bureau indicate that the homebuilding industry is slowly coming back to life. Housing starts jumped 9.3 percent in November to an annual rate of 685,000, the highest reading in 19 months. Starts were up in the Northeast, South and West but "  Read More; Bottom Line - Housing market improves, but foreclosures spoil the party:

Florida ends foreclosure mediation program

Florida ends foreclosure mediation program: Florida Supreme Court Chief Justice Charles Canady terminated the state foreclosure mediation program Monday.
The program was established in 2009 to manage the overwhelming number of cases in state courts. Borrowers were also given a chance to sit down with mortgage servicers in order to get a modification or some other alternative to foreclosure.
The results have [...]

Housing starts climb 9.3% in November

Housing starts climb 9.3% in November: Housing starts shot higher by 9.3% in November, according to Commerce Department data, climbing to the highest level of the year.
On a seasonally adjusted basis, starts increased to 685,000 from 627,000 for October, which was revised downward 1,000.  November housing starts are up 24.3% from 551,000 a year earlier.
Analysts polled by Econoday expected housing starts [...]

Uncertainty expected to linger through 2012

Uncertainty expected to linger through 2012: Next year could bring a few bright spots for real estate investors — namely in the residential rental segment — but uncertainty is expected to reign, making next year a repeat of 2011, analysts said.
Stuart Eisenberg, national director of the real estate practice at BDO USA, predicted there would be a "lot more wait and [...]

Home sales up for fifth-straight month

Home sales up for fifth-straight month: November home sales in the 53 largest metro areas rose 8.1% from last year, the fifth-straight month of increases from a year earlier, according to the real estate network RE/MAX.
Sales did fall 5.7% from the previous month, following a seasonal trend. The inventory of homes on the market dropped for the 17th straight month. Inventory [...]

Home remodeling activity continues record rise: BuildFax

Home remodeling activity continues record rise: BuildFax: The BuildFax residential remodeling index reached a record high in October, extending its 23-month climb another month, as homeowners opt to stay put and remodel rather than buy a new home.
The index, which began in 2004, rose to 147.6, up 40% from 105.8 in October 2010. The index stood at 141.4 in September, which was [...]

Stern Advice: Financial predictions for 2012 | Reuters

Stern Advice: Financial predictions for 2012 | Reuters: " A lot of people are predicting more of the same for 2012: Another year of stock market volatility, high unemployment, banking industry upheaval, weak housing and more talk about Facebook, mobile commerce, 401(k) plans and taxes.

But maybe that's just because it's hard to envision change."

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10 Things Our Kids Will Never Worry About Thanks to the Information Revolution

10 Things Our Kids Will Never Worry About Thanks to the Information Revolution: You know you're getting old when you start using the same sort of "kids these days" rants with your children that your parents threw your way long ago. I caught myself doing this recently when I was lecturing my kids about how lucky they were to not have to get off their duffs every time ...

Monday Morning Cup of Coffee

Monday Morning Cup of Coffee: A look at stories across HousingWire's weekend desk, with more coverage to come on bigger issues:
House Majority Leader John Boehner, R-Ohio, said on NBC's "Meet the Press" Sunday that he opposed a bill passed by the Senate to extend the payroll tax cut through February, and would likely propose another version of the extension Monday.
The [...]

Dogs Living in New York City: City as Chew Toy

Dogs Living in New York City: City as Chew Toy: Most dog experts will tell you there are no bad apartment dogs, only bad owners. But there are ways to ensure a good fit.

Don't Be Passive About Passwords

Don't Be Passive About Passwords: Multiple methods exist for increasing security, but password protection is a good place to start.

Mortgage rates fall to record lows

Mortgage rates fall to record lows: Mortgage rates sunk to record lows again this week.

Gadgetwise Blog: Facebook's New Timeline: What Do You Want to Know?

Gadgetwise Blog: Facebook's New Timeline: What Do You Want to Know?: Some questions about Facebook's new Timeline profile pages are answered.

Getting Started: Getting Started - Not Without My Pet

Getting Started: Getting Started - Not Without My Pet: Finding a pet-friendly building sometimes requires old-fashioned shoe leather. In other words, ask around.

Median home list prices rise 4.05% over last year

Median home list prices rise 4.05% over last year: Median list prices on single-family homes, condos, town homes and co-ops rose 4.05% to $189,900 in November over a year earlier, the National Association of Realtors reported Thursday.
The final report suggests some signs of recovery and price stabilization are moving through parts of the nation's housing market. The data was provided on NAR's consumer website, [...]

Square Footage of LEED-Certified Existing Buildings Surpasses New Construction

Square Footage of LEED-Certified Existing Buildings Surpasses New Construction: Firms continue to pursue LEED and Energy Star certifications.

Bits Blog: F.A.A. Approves iPads in Cockpits, but Not for Passengers

Bits Blog: F.A.A. Approves iPads in Cockpits, but Not for Passengers: On Tuesday, the Federal Aviation Administration said that pilots on American Airlines flights would be officially allowed to use iPads instead of paper flight manuals in the cockpit, just a few feet from the most critical aviation equipment on a plane, even during takeoff and landing. You, back in Seat 32B: turn off that Kindle.

Short sales are up in Orlando, breathing some life into market

Short sales are up in Orlando, breathing some life into market: November short-sale transactions in Orlando increased 39.4% over last year, buoying the median home sales price in the market by 9.52%, the Orlando Regional Realtor Association said Wednesday.
The median Orlando home sales price last month was $115,000. In the short-sales segment, the median selling price jumped 7.1% from last year, with the average short sale [...]

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Foreign homebuyers clicking on depressed US housing markets

Foreign homebuyers clicking on depressed US housing markets: Foreigners looking to purchase homes in the U.S. are increasing their online search activity for bargains, as sliding home prices continue to attract investors from around the globe — especially Canada.
Florida properties remained the lead attraction for foreign investment in the third quarter, followed by Arizona, Nevada and California, according to traffic on the website [...]

Existing home sales to be revised lower

Existing home sales to be revised lower: If you thought the U.S. housing market couldn't get much worse, think again.

Mortgage applications shoot up 4.1% on refinancing surge, low rates

Mortgage applications shoot up 4.1% on refinancing surge, low rates: Mortgage applications filed in the United States shot up 4.1% last week as refinancing volumes surged on record low interest rates for the year.
The Mortgage Bankers Association released its Market Composite Index – a matrix that measures loan application volume – Wednesday morning, showing an uptick in refinancing activity. The index rose 4.1% on a [...]

Retirement Planning In A Changing World

Retirement Planning In A Changing World: Retiring at the age of 65 is quickly becoming a thing of the past. So, what is happening to make this change?

Five New Management Metrics You Need To Know

Five New Management Metrics You Need To Know: After years of leading teams and watching some of the best startup CEOs in the world, I've learned that the most important metrics are often ones you never read about on the income statement or in the financial press.

Rent a time-share and stay for less

Rent a time-share and stay for less: Vacationing with your kids? Cut your costs by renting a time-share instead of hotel rooms. You'll save money on lodging -- and spend less on meals by cooking in.

Is Coral Gables still experiencing a Buyers’ Market? Inventory at a 5 year LOW!

Is Coral Gables still experiencing a Buyers’ Market? Inventory at a 5 year LOW!:
The terms Buyers’ and Sellers’ Markets come from the number of homes on the market versus how quickly they are being absorbed. If the number of homes on the market would sell out (assuming no new ones came on to the market), in three months or less, you have a Sellers’ Market (home inventory is low, homes are in hot demand and selling quickly). If the inventory of homes on the market is over six months, you have a Buyers’ Market. The number of available homes is plentiful and buyers have a large inventory to select from.
Since the beginning of 2011, Coral Gables has seen a steady decrease of homes on the market, and we are right at the tipping point of reaching a Neutral or Stable Market. A stable market normally doesn’t last very long, but during that time, neither Sellers nor Buyers have a strong advantage over the other.
What does this mean to BUYERS?

• Fewer homes to choose from
• More competition from other Buyers
• “Low Ball” offers aren’t going to fly very far
• Keep a sharp eye on the listings for new and reduced properties and don’t wait too long to make an offer
• Know the inventory and market so as soon as a new property comes on the market that meets your criteria, be ready to act
• Interest rates are still low, take advantage of that and the market before the pendulum swings into a Sellers’ Market

What does this mean to Sellers?

• It’s a great time to list, you have far less competition from other Sellers
• While we are not in a Seller’s Market, we are in one much more favorable for Sellers than we have seen in the previous five years
• You still need to be priced right, presented well and marketed properly
• If you have been waiting to list until the market stabilizes, now is the time

Miami Real Estate Buyers – Listen up!

Miami Real Estate Buyers – Listen up!:

If you are a Miami Beach home buyer you know you can be picky, you can demand more and you have every right to be a pain, since this is YOUR market. If you have been looking for a while, you may find the search frustrating and never ending and may even wonder if you will ever buy a property.

With the daily gloom of the media, you may have a tendency to forget what your goal is. You may even start doubting what it is that you really want. So here’s what Rick and I recommend. (Yeah, we’re giving you homework, but you will thank us for it….or not)

Sit down either by yourself or with your significant other and write a list. Write down what it is that you want (not taking price into consideration yet). Number of bedrooms and baths, single-family or condo, square footage, location, size of property, layout, close to a particular school, gated neighborhood, remodeled or not, preferred finishes, charm/no charm, modern or traditional, pool/no pool. Brainstorm away until you have everything down on paper.

If you are making a purchasing decision with a significant other, we recommend that you consolidate your lists and come to a consensus on what is most important. Then go ahead and organize those items in order of significance – please realize that it is almost impossible to find the perfect home with everything you want and it is essential to be flexible and let some of those “wants” go.

After you are done with the “real estate wants list”, go back to your Realtor and discuss price – this will most likely be the only factor that has remained constant since you began, and you may notice that you will be able to afford more items on that list than when you began (so the search time is not all that bad).

Review Miami Beach homes on the market that you have seen and make sure you are not discarding any good opportunities because you were not as “open minded”. Go back and look at them again and make sure you are not missing a great deal that could turn out to be your dream home.

I will repeat again and again that buying real estate is an emotional process and looking at properties for an extended period of time can be draining and frustrating. By studying your needs and indentifying your goals, you may find yourself with a different outlook and willing to make a decision (even if the decision is to stop looking).

We work with real estate buyers on a daily basis that confuse wants with needs. This simple exercise helps them clear up their goals and look at properties with a different mindset. Remember that your Miami Beach Realtor is there to help you with your decision (even if it means knocking sense into you!)

If the exercise doesn’t work – call us and we’ll make you a mojito to make up for your troubles!

Fourth Quarter 2011 Real Estate Investment Outlook

Fourth Quarter 2011 Real Estate Investment Outlook:

N.F.L. Fast Forward: Quarterbacks Bear Down on Marino’s 1984 Record

N.F.L. Fast Forward: Quarterbacks Bear Down on Marino’s 1984 Record: Four quarterbacks are challenging Dan Marino’s single-season passing record of 5,084 yards, which says as much about his 1984 season as it does about the current N.F.L.

Surging student loan debt threatens homeownership

Surging student loan debt threatens homeownership: College graduates may not be able get onto the property ladder as soon as they'd like due to the costs associated with funding higher education.
According to Rick Palacios, a senior research analyst at John Burns Real Estate Consulting, student loan debt now totals $865 billion, which is an average of $25,000 per student.
"Student loans are [...]

Monday Morning Cup of Coffee

Monday Morning Cup of Coffee: A look at stories across HousingWire's weekend desk, with more coverage to come on bigger issues:
Senate Democrats and House Republicans proposed a plan to pay for the proposed payroll tax-cut extension. The plan boosts the "guarantee" fees that Fannie Mae and Freddie Mac charge lenders. The government-sponsored enterprises use the fees to cover defaults of [...]

7 Reasons Big-Company Executives Fail in a Startup

7 Reasons Big-Company Executives Fail in a Startup: Mid-level or even top executives who "grew up" in large companies often look with envy at startups, and dream of how easy it must be running a small organization, where you can see the whole picture and it appears you have total control. In reality, very few executives or professional stars from large corporations thrive ...

More parents helping kids buy homes

More parents helping kids buy homes: Hey, baby boomers! Pondering what gift to get your kid who's all grown up? For many of your peers, the answer is a house.

BofA developing foreclosure rental programs to deal with distressed properties

BofA developing foreclosure rental programs to deal with distressed properties: Bank of America (BAC: 5.72 +2.33%) is looking at a new program to rent a home back to the borrower after foreclosure.
"There are programs that we are quite interested in," said Ron Sturzenegger, who leads the bank's legacy asset servicing division, in an interview with HousingWire. "We are talking with investors that would come in [...]

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JPMorgan warns home prices face another 5% decline

JPMorgan warns home prices face another 5% decline: Existing home sales could tick up in 2012, leading to the sale of 5.5 million units, but price declines are still expected for the next few months.
JPMorgan Chase (JPM: 33.05 +2.58%) made that conclusion in its latest North America securitized products research report. Analysts forecast home prices could fall another 5% between Sept.30 and [...]

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Retiree havens go on sale

Retiree havens go on sale: Even if you're a decade or more away from quitting time, you may be thinking about buying a retirement home right now.

Zillow sponsors Home Price Expectation Survey

Zillow sponsors Home Price Expectation Survey: Real estate information provider Zillow (Z: 24.80 +0.81%) recently partnered with research firm Pulsenomics to exclusively sponsor the latter's quarterly Home Price Expectation Survey.
The survey, which was first published in May 2010, will be renamed the Zillow Home Price Expectations Survey in its December 2011 edition.
The survey is a quarterly report based on the views [...]

The "E-Mail Effect" - And Its Impact

The "E-Mail Effect" - And Its Impact: The subject is old, but this is possibly a new or at least a different perspective on it. The issue is what I call the e-mail effect.It relates to the words you use or the reaction you elicit when e-mailing on a sensitive (or even a not-so-sensitive) subject.Here is an example ...

Eight Secrets To Getting More Done In 2012

Eight Secrets To Getting More Done In 2012: Work smarter, not harder. Here's how.

Anatomy Of A Credit Score

Anatomy Of A Credit Score: What?s in a credit score? You probably know that your credit score helps determine whether you get approved for a loan or credit cards, and at what rates you qualify. The better your credit score, the better your chances of getting credit with favorable terms. But the elements that factor into your score may seem ...

Euro Crisis Will Only Get Worse And Do Serious Damage To Investors

Euro Crisis Will Only Get Worse And Do Serious Damage To Investors: Eventually the markets will be so tired of false, ineffective promises that the markets will conclude that Eurozone leaders have no credibility and will reject the Euro currency.

Mortgage rates dip below 4% — again

Mortgage rates dip below 4% — again: Fixed-rate mortgages rates were largely unchanged and near record lows, according to Freddie Mac and Bankrate mortgage surveys.
The 30-year fixed dipped to 3.99% for the week ending Dec. 8 with an average 0.7 point, and at 3.27%, the 15-year, fixed-rate mortgage with an average 0.8 point, was just slightly above its all-time low of 3.26%, [...]

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NY Fed: House flippers contributed to bust and boom

NY Fed: House flippers contributed to bust and boom: Four years after the housing bust, researchers at the Federal Reserve Bank of New York are putting some of the blame on real estate speculators, saying they played a key role in blowing up the housing bubble that eventually popped, causing home prices to tumble nationwide.
In a report titled "Flip This House: Investor Speculation and [...]

If You Won The Lottery Tomorrow, What Would You Do? Bank <b>...</b>: Compare online banks, major banks, regional banks and credit unions to see which one offers the highest interest rate. Your money will grow faster that way. Now is the time to settle that retirement account once and for all. Maybe you never ...

Distressed subprime loans tumble in Southeast, Federal Reserve report shows: The percentage of distressed first-lien subprime loans among residential borrowers in the states that make up the sixth district of the Federal Reserve fell in the third quarter from a year earlier, according to the Federal Reserve Bank of Atlanta.
The district consists of Alabama, Florida, Georgia, Louisiana, Mississippi and Tennessee.
The percentage of loans that were [...]

Citigroup to cut 4,500 jobs, take $400 million charge

Citigroup to cut 4,500 jobs, take $400 million charge: Citigroup Inc. will eliminate roughly 4,500 jobs over the next few quarters, or about 1.6% of its work force, as volatile financial markets and new regulations crimp profits.
Vikram Pandit, Citigroup's chief executive, disclosed the move on Tuesday afternoon at a Goldman Sachs investor conference in New York. Mr. Pandit said Citigroup would take a [...]

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Florida Realtors see mini-recovery in the Sunshine State

Florida Realtors see mini-recovery in the Sunshine State: Heading into 2012, Florida Realtors say the Sunshine State is already in a mini-recovery with sales trending up and inventories starting to fall.
The association of state real estate agents concluded during its 2012 Real Estate Economic Forecast Conference Tuesday in Orlando that Midwesterners wanting homes in Florida will be able to find deals throughout next [...]