A report from the Daily Mail. "New York City real estate developer Nir Meir and…
This Post Has 11 Comments
The first 24 minute video:
4 Buying Indicators, $260K Price Drops in Toronto, Montreal Stats, 2022 Canadian Real Estate Market
Jon Flynn Broker of Record, Flynn Real Estate Inc.
ug 9, 2022 Important!!! I finally have a Home Buying Recipe for all those wondering when is the best time to buy. I cover the Halifax, Montreal, and Toronto GTA price trends and statistics. GTA sees $260,000 price declines since February, and I share what I’m seeing in my day to day business.
The second 14 minute video:
Aug 9, 2022 Homes For Sale In Cape Coral FL? Where the housing market is headed?August 2022
Housing Prices in cape coral are dropping month after month since April. The Real estate market in Cape Coral Florida is changing monthly. Data is for single-family Cape Coral FL residences only. The average single-family home dropped by -14.5% since our Peak prices in April. Real estate Inventory levels continue to be increasing for Cape Coral FL, although inventory is increasing this month it remains well below the demand level as of now. Homes for sale in cape coral Florida are staying more time in the market and big drops in prices are happening weekly. Prices continue to drop with the new inventory hitting the market. Prices and appreciation could be in the negatives by the end of the year.
The third 3 minute video:
Aug 9, 2022 As Las Vegas new home builders back off on the number of spec homes they’re building (started without a buyer lined up) they’re starting to offload nearly completed homes for below market. In turn this brings down the value of existing nearby homes with it. They’re also upping the offered commission to buyer’s agents – as high as 4 and even 5% in some cases. That’s tough to match for private home sellers as well.
The 4th 8 minute video:
Did the San Diego housing market just crash ?
Aug 9, 2022 Did we finally hit the peak of the market in San Diego? Is it too late to sell? Do buyer’s finally have the upper hand? Big changes are afoot and you’ll want to know how to make the best of them whether buying or selling.
Chapter Topics
0:00 Change in the market
0:33 Prices dropped 15%
1:15 Home sales are stalling
1:50 Stock Market drop
2:01 Investors backing away
2:42 Seller’s in denial
3:11 More houses on market
3:33 Housing selling for less than asking price
4:36 Buyer Tips
4:55 Will there be a housing crash?
5:07 Seller Tips
The 5th 10:21 video:
6 Stats You MUST Know Before Selling In Milton This Year
Aug 10, 2022 Milton real estate update for July 2022. July has been the worst month for number of sales and also for prices so far this year.
Detached homes are down over 15% in price and freehold townhouses have dropped the most so far in Milton at over 25% in price since January.
The real estate market in Milton is tanking just like other cities in Halton.
The last 18 minute video:
Some Sellers Are In Big Trouble In Brampton, Mississauga & Durham
Team Sessa Real Estate
Aug 10, 2022
Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate Market Report for the week of July 28 – Aug 3, 2022. This video will focus specifically on Brampton, Mississauga, Ajax, Whitby, Pickering.
“Did the San Diego housing market just crash ?”
The older neighborhoods still have many these stucco 3/1 with a narrow detached garage way in the backyard, and I’m sure these recent owners are mortgaged to their eye teeth and don’t have any financial cushion; they’ll buckle, again. People with money want modern energy efficient homes with a heat pump system and a garage wide enough to park the car and open the door enough to exit without holding your breath.
4S Ranch has those homes but they come with hefty Mello-Roos and HOA fees.
And, the homes take up most (90%?) of the lot.
I’m still laughing about that one from yesterday where the 1 acre lot was valued at 3/4 million. Things don’t even grow on their own there. Insane.
1 acre lot was valued at 3/4 million
I looked at this lot years ago. It sold for $620K on 1/26/2021.
‘After report upon report on the national housing shortage, at last the tides have turned: According to last month’s data, the inventory of active listings across America increased more than 30% since 2021 — a record-high growth rate. ‘
‘That’s according to Realtor.com’s July housing market trends report, which further found that July marked the third consecutive month of unprecedented inventory growth rates. ‘
“Nationally, the inventory of homes actively for sale on a typical day in July increased by 30.7% over the past year, the largest increase in inventory in the data history and higher than last month’s growth rate of 18.7% which was itself record-breaking,” the July report notes. In terms of listing numbers, this means that potential buyers saw 176,000 more homes when searching last month than they would have in 2021.”
“With inventories increasing, buyers will have more negotiating power,” Realtor’s chief economist, Danielle Hale, told Bloomberg, adding that pandemic advantages are now a thing of the past for homeowners. “The two years of a market heavily tipped in favor of sellers appears to be in the rearview mirror.”
‘Mortgage lender Celebrity Home Loans shut down its correspondent channel and laid off employees on Tuesday. Amid a market downturn, the company has decided to focus on the retail lending business.’
“As one of the few retail lenders that saw production grow from Q1 to Q2, we’ve decided to keep our focus on our greatest strength: retail lending,” David Robnett, chairman and CEO, wrote in a statement. “Unfortunately, that meant the correspondent lending channel we were beta testing came to a close yesterday, affecting 10 of our team members.”
“Buy before you sell” firm Homeward has laid off roughly 20% of its workforce, according to a letter from CEO Tim Heyl to employees sent on Wednesday. Despite recording what Heyl calls the firm’s “strongest month ever” in May and solid second quarter results, Heyl said the market shift was more sudden than anticipated, forcing the firm to make cuts.’
“Meeting the moment sometimes requires a business to evolve,” Heyl wrote. “Despite having a strong financial start to the year, we are currently staffed for more growth than we’re now forecasting. This reduction today is necessary for our future success, but that doesn’t make it easier to part with so many of our colleagues.” “We don’t know how long real estate will continue to soften, so we must plan for a less active market,” he wrote.’
“Homeward said it is offering laid off employees tenure-based severance pay and two months of COBRA health insurance benefits. In addition, the firm is offering impacted employees access to outplacement services through the company’s recruiting team and removing non-compete clauses for impacted employees.”
That’s generous of them, but the impacted who will survive likely have a college degree and other skills.
Housing….. It’s cratering.
Colorado Springs, CO Housing Prices Crater 23% YOY As Desperate Sellers Send Inventory Soaring And Prices Plunging Across Denver Area
The first 24 minute video:
4 Buying Indicators, $260K Price Drops in Toronto, Montreal Stats, 2022 Canadian Real Estate Market
Jon Flynn Broker of Record, Flynn Real Estate Inc.
ug 9, 2022 Important!!! I finally have a Home Buying Recipe for all those wondering when is the best time to buy. I cover the Halifax, Montreal, and Toronto GTA price trends and statistics. GTA sees $260,000 price declines since February, and I share what I’m seeing in my day to day business.
The second 14 minute video:
Aug 9, 2022 Homes For Sale In Cape Coral FL? Where the housing market is headed?August 2022
Housing Prices in cape coral are dropping month after month since April. The Real estate market in Cape Coral Florida is changing monthly. Data is for single-family Cape Coral FL residences only. The average single-family home dropped by -14.5% since our Peak prices in April. Real estate Inventory levels continue to be increasing for Cape Coral FL, although inventory is increasing this month it remains well below the demand level as of now. Homes for sale in cape coral Florida are staying more time in the market and big drops in prices are happening weekly. Prices continue to drop with the new inventory hitting the market. Prices and appreciation could be in the negatives by the end of the year.
The third 3 minute video:
Aug 9, 2022 As Las Vegas new home builders back off on the number of spec homes they’re building (started without a buyer lined up) they’re starting to offload nearly completed homes for below market. In turn this brings down the value of existing nearby homes with it. They’re also upping the offered commission to buyer’s agents – as high as 4 and even 5% in some cases. That’s tough to match for private home sellers as well.
The 4th 8 minute video:
Did the San Diego housing market just crash ?
Aug 9, 2022 Did we finally hit the peak of the market in San Diego? Is it too late to sell? Do buyer’s finally have the upper hand? Big changes are afoot and you’ll want to know how to make the best of them whether buying or selling.
Chapter Topics
0:00 Change in the market
0:33 Prices dropped 15%
1:15 Home sales are stalling
1:50 Stock Market drop
2:01 Investors backing away
2:42 Seller’s in denial
3:11 More houses on market
3:33 Housing selling for less than asking price
4:36 Buyer Tips
4:55 Will there be a housing crash?
5:07 Seller Tips
The 5th 10:21 video:
6 Stats You MUST Know Before Selling In Milton This Year
Aug 10, 2022 Milton real estate update for July 2022. July has been the worst month for number of sales and also for prices so far this year.
Detached homes are down over 15% in price and freehold townhouses have dropped the most so far in Milton at over 25% in price since January.
The real estate market in Milton is tanking just like other cities in Halton.
The last 18 minute video:
Some Sellers Are In Big Trouble In Brampton, Mississauga & Durham
Team Sessa Real Estate
Aug 10, 2022
Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate Market Report for the week of July 28 – Aug 3, 2022. This video will focus specifically on Brampton, Mississauga, Ajax, Whitby, Pickering.
“Did the San Diego housing market just crash ?”
The older neighborhoods still have many these stucco 3/1 with a narrow detached garage way in the backyard, and I’m sure these recent owners are mortgaged to their eye teeth and don’t have any financial cushion; they’ll buckle, again. People with money want modern energy efficient homes with a heat pump system and a garage wide enough to park the car and open the door enough to exit without holding your breath.
4S Ranch has those homes but they come with hefty Mello-Roos and HOA fees.
And, the homes take up most (90%?) of the lot.
I’m still laughing about that one from yesterday where the 1 acre lot was valued at 3/4 million. Things don’t even grow on their own there. Insane.
1 acre lot was valued at 3/4 million
I looked at this lot years ago. It sold for $620K on 1/26/2021.
‘After report upon report on the national housing shortage, at last the tides have turned: According to last month’s data, the inventory of active listings across America increased more than 30% since 2021 — a record-high growth rate. ‘
‘That’s according to Realtor.com’s July housing market trends report, which further found that July marked the third consecutive month of unprecedented inventory growth rates. ‘
“Nationally, the inventory of homes actively for sale on a typical day in July increased by 30.7% over the past year, the largest increase in inventory in the data history and higher than last month’s growth rate of 18.7% which was itself record-breaking,” the July report notes. In terms of listing numbers, this means that potential buyers saw 176,000 more homes when searching last month than they would have in 2021.”
“With inventories increasing, buyers will have more negotiating power,” Realtor’s chief economist, Danielle Hale, told Bloomberg, adding that pandemic advantages are now a thing of the past for homeowners. “The two years of a market heavily tipped in favor of sellers appears to be in the rearview mirror.”
https://nypost.com/2022/08/10/us-home-listings-surge-at-record-rate-as-market-cools/
‘Mortgage lender Celebrity Home Loans shut down its correspondent channel and laid off employees on Tuesday. Amid a market downturn, the company has decided to focus on the retail lending business.’
“As one of the few retail lenders that saw production grow from Q1 to Q2, we’ve decided to keep our focus on our greatest strength: retail lending,” David Robnett, chairman and CEO, wrote in a statement. “Unfortunately, that meant the correspondent lending channel we were beta testing came to a close yesterday, affecting 10 of our team members.”
https://www.housingwire.com/articles/celebrity-home-loans-exits-correspondent-channel/
“Buy before you sell” firm Homeward has laid off roughly 20% of its workforce, according to a letter from CEO Tim Heyl to employees sent on Wednesday. Despite recording what Heyl calls the firm’s “strongest month ever” in May and solid second quarter results, Heyl said the market shift was more sudden than anticipated, forcing the firm to make cuts.’
“Meeting the moment sometimes requires a business to evolve,” Heyl wrote. “Despite having a strong financial start to the year, we are currently staffed for more growth than we’re now forecasting. This reduction today is necessary for our future success, but that doesn’t make it easier to part with so many of our colleagues.” “We don’t know how long real estate will continue to soften, so we must plan for a less active market,” he wrote.’
https://www.realtrends.com/articles/homeward-lays-off-20-of-workforce/
“Homeward said it is offering laid off employees tenure-based severance pay and two months of COBRA health insurance benefits. In addition, the firm is offering impacted employees access to outplacement services through the company’s recruiting team and removing non-compete clauses for impacted employees.”
That’s generous of them, but the impacted who will survive likely have a college degree and other skills.
Housing….. It’s cratering.
Colorado Springs, CO Housing Prices Crater 23% YOY As Desperate Sellers Send Inventory Soaring And Prices Plunging Across Denver Area
https://www.movoto.com/co/80906/market-trends/