It’s A Common Conversation
A report from WTOP. "Bright MLS reports new listings of condos and co-ops in the D.C. metro in October were up 49.2% from a year ago, a 10-year high for the second month straight. That does not mean there is…
For Owners, Just About Everything That Could Go Wrong Is Going Wrong
A report from the Review Journal in Nevada. "Las Vegas’ housing market is defying logic. It has heated up with fast sales and a monthslong streak of record prices despite the bleak economy, raising the question locals often ask: Is…
A Collection Of Cut-Price Listings Illustrates How Crazy Frenzied Markets Had Become
A report from Mortgage News Daily. "Extremely serious delinquencies, those loans 150 days or more past due, reached historically high levels in August. Corelogic said the rate of delinquencies among those loans spiked to 1.2 percent, the highest level since…
Now, There’s No One
A report from the Los Angeles Times in California. "In the 90210 ZIP Code, based on 30 sales, the median price for single-family homes in September was $4.518 million, down 27.1% year over year, according to CoreLogic." The San Diego…
The Bigger The Bubble, The Bigger The Bust
A report from the Wall Street Journal. "Mariano Rivera, the retired Major League Baseball pitcher, is listing his home in Rye, an affluent community in Westchester County, N.Y., for $3.995 million. Mr. Rivera and his wife bought the property in…
Dreams Are High, It Will Sit On The Market, And They Come To The Realization They’ve Got No Offers Or Significantly Lowballed Offers
A report from the Wall Street Journal. "Some of the most conservative real-estate funds are suffering from falling property values, putting their fund managers in a tough spot as investors look to cash out. Now that the pandemic has caused…
They’re Getting So Desperate, They’re Starting To Offer Huge Incentives To Entice Buyers To Make Offers
A report from CNBC. "'Everybody I know is leaving,' said Michael Kronenberg, who owns a downtown Manhattan apartment. 'It’s not just New Yorkers. My partners, long-time clients and investors of mine that live in Connecticut or New Jersey, they are…
Real Estate Became So Crazily Inflated That This Is The New Reality
It's Friday desk clearing time for this blogger. "A wave of foreclosures is likely coming that will hit low-income homeowners. As of August, over 10% of the eight million single-family mortgages backed by the Federal Housing Administration were delinquent by…
Inventory Has Been Growing Faster Than Sales, And Price Reductions Have Hit Very High Numbers
A report from the Los Angeles Times in California. "If you’re falling behind on rent, don’t just wait for consequences. Your landlord may be open to negotiation. 'Residents shouldn’t hesitate to reach out to their housing provider,' agreed Fred Sutton,…
Saddled With Securities That Are Akin To Museum Pieces That No One Is Interested In Buying
A report from the Sun Sentinel. "The housing market in South Florida has been booming for much of 2020 — sparked by low interest rates, high demand and low inventory — but real estate experts say they consider the trend…