It's Friday desk clearing time for this blogger. "Markets like Phoenix and Las Vegas, which…
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From the first 8 minute video:
Tired of all the NEGATIVE News re the Phoenix Housing Market? Let’s Focus on SOME GOOD NEWS!
Sep 30, 2022 Tired of all the NEGATIVE News re the Phoenix Housing Market? Let’s Focus on SOME GOOD NEWS!
It’s been a crazy week of bad news headlines when it comes to interest rates, the stock market, the real estate market and plenty of other things! But is everything as bad as it seems?
Today I take a step back from the negative news and focus on all the positive things that are happening when it comes to the Phoenix Housing Market. There really are a lot of good things to consider if you are looking to buy or rent right now. And the environment is so much better for buyers than it was over the last two years.
The second 8:24 video:
Miami Inevitable SHIFT: Prices FALLING in Miami
Sharon Colon
Premiered Sep 29, 2022 Huge headlines in Miami this month. Even though Miami sales remain higher than before the pandemic times, in August 2022 total home sales decreased 24.1% year over year.
The third 15:33 video:
Sellers Giving In..Low ball OFFERS accepted..Especially for Surrey & Langley Real Estate[MUST WATCH]
John Pinton- Vancouver Realtor
Premiered Sep 29, 2022 House prices are dropping fast folks! Real estate prices are plummeting in Surrey and Langley! HOWEVER, please note many condos are selling over asking due to low inventory. But for houses the prices continue to drop… Especially over the past few weeks here in September as sellers are finally giving in to low ball offers…asking prices that were once 1.8m have come down to 1.4m which is the average selling price now for a detached surrey or langley 4 bedroom house built in 1990-2005. Expect more great deals moving deeper into fall. It’s a great time to buy a house now since sellers are desperate…In this video I highlight how homes that were once 1.7 are now back to 1.2m!!
The fourth 12 minute video:
Are High Interest Rates Still Pounding the Average Sale Price of Homes in Portland?
Ron Milligan
Sep 30, 2022 September 30, 2022 – Here’s the latest update on the Porland Oregon real estate market.
With the 30-year still fixed pushing 7%, what’s going on with prices? How is the inventory holding up in Portland? Buyer demand? We’ve got the latest statistics!!
The fifth 8 minute video:
Mortgage Market Update: Feel The Pain
Jennifer Beeston
Sep 29, 2022
The last 13 minute video:
Trigger rate clients now facing up to 50 +Year Amortizations?! – Finance Fridays
Team Sessa Real Estate
Sep 30, 2022
Anthony Venuto
South Florida home prices fall, but key issue remains
Miami Herald|1 hour ago
Housing prices fell again last month in Miami-Dade County and dipped for the first time in months in neighboring Broward County, an uplifting sign for aspiring home buyers.
The most expensive home ever bought is a 105,000-square-foot California mansion in the hills of Bel Air whose electric bill can reach up to $50,000 a month, according to a report.
The $141 million home known as “The One,” which is considered the largest modern home in the country, would need considerable amounts of energy to cool it down during the intense heat waves that have gripped Southern California in recent weeks.
California Gov. Gavin Newsom took to Twitter earlier this month and asked residents to “save energy” while he wore a fleece coat in what appeared to be an air-conditioned room — prompting charges of hypocrisy.
“Our energy grid is being pushed to its max. The risk of outages is real. We need everyone to double down to save energy after 4 p.m. today,” Newsom said.
In March, Richard Saghian, the founder of retail company Fashion Nova, placed a $141 million bid for the home, which was approved by a US Bankruptcy Court judge. Saghian snatched up the home at half its listing price of $295 million.
So this super shanty isn’t maxed out with solar panels?
California Gov. Gavin Newsom on Friday announced that oil refineries could start selling more polluting winter-blend gasoline ahead of schedule to ease soaring fuel prices, directly contradicting his own goals for reducing climate pollutants.
The average cost of a gallon of gas was $6.30 in California on Friday, far above the national average of $3.80, according to AAA. Newsom administration officials said the difference between state prices and the national average has never been larger.
The Democratic governor also called on state lawmakers to pass a new tax on oil company profits and return the money to California taxpayers. Lawmakers don’t return to the Capitol until January, Newsom’s office provided few details on the proposal.
“They’re ripping you off,” he said of the oil industry.
As a noted economist questioned, “With 25 million excess empty and defaulted houses out there, why build more?”
The report, which breaks down starter-home prices and the required annual household incomes for 20 cities around the United States, shows that San Diegans would need to make $186,645 per year to afford one locally, priced in at $669,000.
Those figures are calculated using a 10% down payment with a 6.25% mortgage rate (good luck with that: NBC News reported Thursday that the 30-year home mortgage rate just hit 6.7%!) and a 1.72% tax rate.
These are probably, at most a 250K houses even for $hitholes like Sandigo.
Trust me, people making $186/yr aren’t buying these.
$186K/yr!!!
City Council President Sean Elo-Rivera, in a written statement, told the Union-Tribune the eviction moratorium is ending at a difficult time for San Diego renters:
“Housing is a fundamental human need and the foundation for a stable life. San Diego is in the midst of a housing affordability and related homelessness crisis. As a community, we cannot afford to have families who are making their rent payments and abiding by their leases forced out of their homes.
“Unfortunately, we are hearing that some predatory apartment owners are circling tenants like sharks wanting to evict them just so they can take advantage of the market and jack up the rent. That is all the evidence that anyone should need as to why tenant protections need to be strengthened,” he continued.
‘take advantage of the market and jack up the rent’
But it’s always been expensive in this sh$thole cuz – weather!
Prince Joachim of Denmark has once again hit out at his mother Queen Margrethe II’s decision to strip his four children of their royal titles.
As of January 1, Prince Nikolai, 23, Prince Felix, 20, Prince Henrik, 13, and Princess Athena, 10, will become Counts and Countesses, and will be known as Their Excellencies, rather than His or Her Royal Highness, it was announced on Wednesday.
Commenting on their reaction to the move to B.T., Joachim said his children ‘don’t know which leg to stand on as their identity is removed’ – and questioned ‘why must they be punished in that way?’
Let me guess: their royal stipends were either cut off or were severely reduced.
Michigan bank close to putting mortgage lending disaster behind it
American Banker|13 hours ago
After resolving a longstanding consent order from the Office of the Comptroller of the Currency and a shareholder lawsuit, Sterling Bank’s CEO — an experienced turnaround artist — says the bank is largely done fixing the fallout from its fraud-ridden Advantage Loan program.
Uncertainty in the mortgage market leads to 58 job cuts at Pinellas County bank
Business Observer|17 hours ago
The slowing housing market is beginning to cost people their jobs. BayFirst Financial has announced that it is cutting 58 jobs in its Clearwater mortgage division “due to the continuing decline in mortgage volume leading to division losses,
From the first 8 minute video:
Tired of all the NEGATIVE News re the Phoenix Housing Market? Let’s Focus on SOME GOOD NEWS!
Sep 30, 2022 Tired of all the NEGATIVE News re the Phoenix Housing Market? Let’s Focus on SOME GOOD NEWS!
It’s been a crazy week of bad news headlines when it comes to interest rates, the stock market, the real estate market and plenty of other things! But is everything as bad as it seems?
Today I take a step back from the negative news and focus on all the positive things that are happening when it comes to the Phoenix Housing Market. There really are a lot of good things to consider if you are looking to buy or rent right now. And the environment is so much better for buyers than it was over the last two years.
The second 8:24 video:
Miami Inevitable SHIFT: Prices FALLING in Miami
Sharon Colon
Premiered Sep 29, 2022 Huge headlines in Miami this month. Even though Miami sales remain higher than before the pandemic times, in August 2022 total home sales decreased 24.1% year over year.
The third 15:33 video:
Sellers Giving In..Low ball OFFERS accepted..Especially for Surrey & Langley Real Estate[MUST WATCH]
John Pinton- Vancouver Realtor
Premiered Sep 29, 2022 House prices are dropping fast folks! Real estate prices are plummeting in Surrey and Langley! HOWEVER, please note many condos are selling over asking due to low inventory. But for houses the prices continue to drop… Especially over the past few weeks here in September as sellers are finally giving in to low ball offers…asking prices that were once 1.8m have come down to 1.4m which is the average selling price now for a detached surrey or langley 4 bedroom house built in 1990-2005. Expect more great deals moving deeper into fall. It’s a great time to buy a house now since sellers are desperate…In this video I highlight how homes that were once 1.7 are now back to 1.2m!!
The fourth 12 minute video:
Are High Interest Rates Still Pounding the Average Sale Price of Homes in Portland?
Ron Milligan
Sep 30, 2022 September 30, 2022 – Here’s the latest update on the Porland Oregon real estate market.
With the 30-year still fixed pushing 7%, what’s going on with prices? How is the inventory holding up in Portland? Buyer demand? We’ve got the latest statistics!!
The fifth 8 minute video:
Mortgage Market Update: Feel The Pain
Jennifer Beeston
Sep 29, 2022
The last 13 minute video:
Trigger rate clients now facing up to 50 +Year Amortizations?! – Finance Fridays
Team Sessa Real Estate
Sep 30, 2022
Anthony Venuto
South Florida home prices fall, but key issue remains
Miami Herald|1 hour ago
Housing prices fell again last month in Miami-Dade County and dipped for the first time in months in neighboring Broward County, an uplifting sign for aspiring home buyers.
The most expensive home ever bought is a 105,000-square-foot California mansion in the hills of Bel Air whose electric bill can reach up to $50,000 a month, according to a report.
The $141 million home known as “The One,” which is considered the largest modern home in the country, would need considerable amounts of energy to cool it down during the intense heat waves that have gripped Southern California in recent weeks.
California Gov. Gavin Newsom took to Twitter earlier this month and asked residents to “save energy” while he wore a fleece coat in what appeared to be an air-conditioned room — prompting charges of hypocrisy.
“Our energy grid is being pushed to its max. The risk of outages is real. We need everyone to double down to save energy after 4 p.m. today,” Newsom said.
In March, Richard Saghian, the founder of retail company Fashion Nova, placed a $141 million bid for the home, which was approved by a US Bankruptcy Court judge. Saghian snatched up the home at half its listing price of $295 million.
https://nypost.com/2022/09/30/bel-air-mega-mansions-electric-bill-reaches-50k-a-month-report/
Five swimming pools!
So this super shanty isn’t maxed out with solar panels?
California Gov. Gavin Newsom on Friday announced that oil refineries could start selling more polluting winter-blend gasoline ahead of schedule to ease soaring fuel prices, directly contradicting his own goals for reducing climate pollutants.
The average cost of a gallon of gas was $6.30 in California on Friday, far above the national average of $3.80, according to AAA. Newsom administration officials said the difference between state prices and the national average has never been larger.
The Democratic governor also called on state lawmakers to pass a new tax on oil company profits and return the money to California taxpayers. Lawmakers don’t return to the Capitol until January, Newsom’s office provided few details on the proposal.
“They’re ripping you off,” he said of the oil industry.
https://www.msn.com/en-us/news/politics/newsom-relaxes-refinery-rules-as-california-gas-prices-soar/ar-AA12smgI
‘selling more polluting winter-blend gasoline’
We’re all gonna die…
‘pass a new tax’
That’ll fix it.
via GIPHY
So many reasons to not live there. Will the exodus grow?
Deerfield Beach, FL Housing Prices Crater 19% YOY As US Housing Demand Dries Up And Inventory Soars
https://www.movoto.com/deerfield-beach-fl/market-trends/
As a noted economist questioned, “With 25 million excess empty and defaulted houses out there, why build more?”
The report, which breaks down starter-home prices and the required annual household incomes for 20 cities around the United States, shows that San Diegans would need to make $186,645 per year to afford one locally, priced in at $669,000.
Those figures are calculated using a 10% down payment with a 6.25% mortgage rate (good luck with that: NBC News reported Thursday that the 30-year home mortgage rate just hit 6.7%!) and a 1.72% tax rate.
https://www.nbcsandiego.com/entertainment/the-scene/buying-starter-home-in-san-diego-you-need-to-make-187000-a-year-realtor-com/3060516/
$669,000
These are probably, at most a 250K houses even for $hitholes like Sandigo.
Trust me, people making $186/yr aren’t buying these.
$186K/yr!!!
City Council President Sean Elo-Rivera, in a written statement, told the Union-Tribune the eviction moratorium is ending at a difficult time for San Diego renters:
“Housing is a fundamental human need and the foundation for a stable life. San Diego is in the midst of a housing affordability and related homelessness crisis. As a community, we cannot afford to have families who are making their rent payments and abiding by their leases forced out of their homes.
“Unfortunately, we are hearing that some predatory apartment owners are circling tenants like sharks wanting to evict them just so they can take advantage of the market and jack up the rent. That is all the evidence that anyone should need as to why tenant protections need to be strengthened,” he continued.
https://www.msn.com/en-us/money/realestate/san-diegos-no-fault-eviction-ban-expires-allowing-landlords-to-terminate-tenancies-without-cause/ar-AA12sn8y
‘take advantage of the market and jack up the rent’
But it’s always been expensive in this sh$thole cuz – weather!
Prince Joachim of Denmark has once again hit out at his mother Queen Margrethe II’s decision to strip his four children of their royal titles.
As of January 1, Prince Nikolai, 23, Prince Felix, 20, Prince Henrik, 13, and Princess Athena, 10, will become Counts and Countesses, and will be known as Their Excellencies, rather than His or Her Royal Highness, it was announced on Wednesday.
Commenting on their reaction to the move to B.T., Joachim said his children ‘don’t know which leg to stand on as their identity is removed’ – and questioned ‘why must they be punished in that way?’
https://www.dailymail.co.uk/femail/article-11266203/Why-punished-way-asks-Prince-Joachim-Denmark.html
Let me guess: their royal stipends were either cut off or were severely reduced.
Michigan bank close to putting mortgage lending disaster behind it
American Banker|13 hours ago
After resolving a longstanding consent order from the Office of the Comptroller of the Currency and a shareholder lawsuit, Sterling Bank’s CEO — an experienced turnaround artist — says the bank is largely done fixing the fallout from its fraud-ridden Advantage Loan program.
Uncertainty in the mortgage market leads to 58 job cuts at Pinellas County bank
Business Observer|17 hours ago
The slowing housing market is beginning to cost people their jobs. BayFirst Financial has announced that it is cutting 58 jobs in its Clearwater mortgage division “due to the continuing decline in mortgage volume leading to division losses,
Frederick, MD Housing Prices Crater 26% YOYAs Rural And Appalachia Housing Prices Plummet
https://www.movoto.com/md/21704/market-trends/
As a leading economist advises, “Mortgage debt is the most toxic and damaging debt of all. Avoid it at all costs.”