In the first quarter, home prices were down 2.5%, the largest quarterly decline since late 2008. Home prices have declined 5.5% compared with the first quarter of 2010, The Federal Housing Finance Agency (FHFA), says.
This is because deeply-discounted foreclosed properties are flooding into the market, raising the inventory level.
According to FHFA, in New York State, the housing price has fallen 3.1% in the first quarter since the same time in 2010.
Obviously, we are having a hard time in New York City locally as well.
If you need to sell your house in this environment, most likely it would be very tough. You can list your house with a realtor, but it may take 8-10 months to have it sold.
However, if you really must sell very quickly, there is always a way.
For more details, please visit our website.
Thursday, May 26, 2011
Thursday, May 5, 2011
It's Official. House Prices Have Double Dipped Nationwide!!!
It's official. CNBC reported today that home prices have double dipped nationwide, now lower than their March 2009 trough, citing a new report from Clear Capital.
A surge in sales of foreclosed properties and a big push by banks to facilitate short sales would force home prices down dramatically.
Sales of bank-owned (REO) properties hit 34.5 percent of the market, according to the survey, resulting in a national price drop of 4.9 percent quarterly and 5 percent year-over-year. National home prices have fallen 11.5 percent in the past nine months, a rate not seen since 2008.
Talking about NYC (Brooklyn and Bronx), of course we have the same situation: declining housing prices.
In this downturn housing market, if you need to sell your house fast, you may have a hard time.
But there is always a way.
For more information, please visit our website.
A surge in sales of foreclosed properties and a big push by banks to facilitate short sales would force home prices down dramatically.
Sales of bank-owned (REO) properties hit 34.5 percent of the market, according to the survey, resulting in a national price drop of 4.9 percent quarterly and 5 percent year-over-year. National home prices have fallen 11.5 percent in the past nine months, a rate not seen since 2008.
Talking about NYC (Brooklyn and Bronx), of course we have the same situation: declining housing prices.
In this downturn housing market, if you need to sell your house fast, you may have a hard time.
But there is always a way.
For more information, please visit our website.
Sunday, May 1, 2011
We Buy Houses in Any Condition for $CASH in the Bronx and Brooklyn
"Can I Sell My House Fast? in this depressed market?" you may be wondering right now, if you are considering selling it.
Yes, in this market where so many foreclosures are putting down the housing prices, it may be hard to sell your house.
But there is always a way. As local investors, We Buy Houses in the Bronx and Brooklyn for $CASH. And we can close within 14 days or even less, in many instances. We can help.
If you are in some form of distress and going through a divorce, bankruptcy, job-loss or sickness or having tax / mechanics lien, facing foreclosure and relocation, being a tired landlord, please contact us. We can provide a fast solution to your real estate Challenge.
Please visit our website for more information.
Yes, in this market where so many foreclosures are putting down the housing prices, it may be hard to sell your house.
But there is always a way. As local investors, We Buy Houses in the Bronx and Brooklyn for $CASH. And we can close within 14 days or even less, in many instances. We can help.
If you are in some form of distress and going through a divorce, bankruptcy, job-loss or sickness or having tax / mechanics lien, facing foreclosure and relocation, being a tired landlord, please contact us. We can provide a fast solution to your real estate Challenge.
Please visit our website for more information.
Wednesday, April 27, 2011
Housing Prices are Still Falling - suggesting a Double-Dip in the US Housing Market
The S&P/Case-Shiller index of property values in 20 cities fell 3.3 percent in February from one year ago, the biggest year-over-year decline since November 2009, the group said Monday in New York. At 139.27, the gauge was just shy of the six-year low of 139.26 in April 2009, two months before the economic slump ended.
Values will probably keep falling as foreclosures swell the supply of unsold homes, which means the construction industry will take time to recover.
Home prices fell 0.2 percent in February from the prior month after adjusting for seasonal variations, an eighth consecutive decrease, the report from Case-Shiller showed. Fourteen of the 20 cities posted price declines in February from the previous month, led by Seattle and Miami.
Our neighborhoods in New York City, Brooklyn, Queens and the Bronx, are no exception. Due to high volumes of foreclosure properties, housing prices are still coming down.
Having said that, You Can Still SELL YOUR HOUSE FAST. For more info, please visit our website.
Values will probably keep falling as foreclosures swell the supply of unsold homes, which means the construction industry will take time to recover.
Home prices fell 0.2 percent in February from the prior month after adjusting for seasonal variations, an eighth consecutive decrease, the report from Case-Shiller showed. Fourteen of the 20 cities posted price declines in February from the previous month, led by Seattle and Miami.
Our neighborhoods in New York City, Brooklyn, Queens and the Bronx, are no exception. Due to high volumes of foreclosure properties, housing prices are still coming down.
Having said that, You Can Still SELL YOUR HOUSE FAST. For more info, please visit our website.
Saturday, April 16, 2011
Banks' Earnings Reports Show the Gloomy Housing Market will Continue...
This past week, JP Morgan Chase and Bank of America released their 1st quarter earning reports.
It turned out that their Mortgage Loan Divisions are dragging down their net earnings.
With the U.S. housing market showing no signs of a hitting a bottom and foreclosures continuing to mount, the outlook for financial companies is cloudy at best.
No bank better exemplifies this problem than Bank of America, which missed analyst expectations on Friday when it announced $2.39 billion loss in its home loan business.
Therefore this past week alone, the shares of Bank of America plunged by almost 5 percent.
Considering the above, this gloomy housing market may continue for a while, at least till the end of the year.
The local NYC areas including Brooklyn, Queens and the Bronx would follow suit. Therefore, the princes are more than likely to keep falling. Therefore selling a house will probably become much harder, going forward.
But if you find yourself in a situation where you need to sell your house right away, there is still a way.
It turned out that their Mortgage Loan Divisions are dragging down their net earnings.
With the U.S. housing market showing no signs of a hitting a bottom and foreclosures continuing to mount, the outlook for financial companies is cloudy at best.
No bank better exemplifies this problem than Bank of America, which missed analyst expectations on Friday when it announced $2.39 billion loss in its home loan business.
Therefore this past week alone, the shares of Bank of America plunged by almost 5 percent.
Considering the above, this gloomy housing market may continue for a while, at least till the end of the year.
The local NYC areas including Brooklyn, Queens and the Bronx would follow suit. Therefore, the princes are more than likely to keep falling. Therefore selling a house will probably become much harder, going forward.
But if you find yourself in a situation where you need to sell your house right away, there is still a way.
Thursday, April 14, 2011
MBA Data Suggests the Housing Market is Heading for a Double-Dip
MBA, the Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 6.7 percent in the week ended April 8. It was the third week of declines in a row and applications were at their lowest level since the week of January 21.
Historically speaking, March, April and May are the spring home purchasing season, when the sales of the houses pick up strongly in the US.
Having said that, this MBA data shows no signs of strength. Rather, it is at the weakest level since January. This suggests that we may be heading for a double-dip recession in the US housing market, economists predict.
Considering the above, if you are trying to sell your house now or in the near future, you'd probably have a very hard time.
However, there is ALWAYS a way to SELL YOUR HOUSE FAST in Any Condition. Especially, in Brooklyn NY or the surrounding areas including the Bronx and Queens.
For more info, please visit our tutorial website.
Wednesday, April 6, 2011
Home Builder's Struggle Continues, signaling a Delayed US Housing Recovery !!!
KB Home, the fifth-largest U.S. homebuilder, reported today a wider quarterly loss and said net orders fell by a third, indicating that a recovery in the housing sector remains elusive five years into the housing meltdown.
The company posted a net loss of $114.5 million for the three months that ended Feb. 28. Compared with a net loss of $54.7 million, a year earlier, the loss more than doubled from last year.
KB Home revenue totaled $196.9 million, down 25% from $264 million a year earlier. Home deliveries in the quarter plunged 28% to 949.
KB Home's results echo the comments made by rival Lennar Corp , which posted lower revenue and orders last week.
Lennar, the third-largest homebuilder, had warned that the important spring selling season was not shaping up into a recovery from the housing slump.
This doesn't bode well for the local Brooklyn Housing Market that has been depressed for a quite while.
If you, however, find yourself in a situation where you need to sell your house right away, please visit our website for more info.
The company posted a net loss of $114.5 million for the three months that ended Feb. 28. Compared with a net loss of $54.7 million, a year earlier, the loss more than doubled from last year.
KB Home revenue totaled $196.9 million, down 25% from $264 million a year earlier. Home deliveries in the quarter plunged 28% to 949.
KB Home's results echo the comments made by rival Lennar Corp , which posted lower revenue and orders last week.
Lennar, the third-largest homebuilder, had warned that the important spring selling season was not shaping up into a recovery from the housing slump.
This doesn't bode well for the local Brooklyn Housing Market that has been depressed for a quite while.
If you, however, find yourself in a situation where you need to sell your house right away, please visit our website for more info.
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