Mortgage giant reports Q1 loss of more than $13 billion
Source: Associated Press
Fannie Mae has again asked taxpayers for more money — this time $8.4 billion — after reporting another steep loss for the first quarter. The taxpayer bill for rescuing Fannie and its sibling Freddie Mac has grown to $145 billion — and the final tally could be much higher.
The rescue of Fannie and Freddie is turning out to be one of the most expensive aftereffects of the financial meltdown, and Fannie Mae's first-quarter financial report on Monday made clear that there is no end in sight.
"The losses are not going to stop" soon, said Anthony Sanders, a finance professor at George Mason University, who warns that the housing market is likely to turn sharply downward again later this year.
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http://www.msnbc.msn.com/id/37060487/ns/business-real_estate/
Monday, May 10, 2010
Friday, May 7, 2010
U.S. Economy Added 290,000 Jobs in April
Jobless rate rises to 9.9 percent as size of labor force increased
Source: Reuters
U.S. employment grew at the fastest pace in four years in April as private sector businesses ramped up hiring, showing the labor market recovery gaining steam.
President Barack Obama called the news "very encouraging."
Employers added 290,000 jobs in April, the Labor Department said Friday, far more than analysts had expected. The department also revised figures for February and March to show 121,000 more jobs were added than previously estimated.
For the full Article, click on the following link
http://www.msnbc.msn.com/id/37014475/ns/business-stocks_and_economy/
Source: Reuters
U.S. employment grew at the fastest pace in four years in April as private sector businesses ramped up hiring, showing the labor market recovery gaining steam.
President Barack Obama called the news "very encouraging."
Employers added 290,000 jobs in April, the Labor Department said Friday, far more than analysts had expected. The department also revised figures for February and March to show 121,000 more jobs were added than previously estimated.
For the full Article, click on the following link
http://www.msnbc.msn.com/id/37014475/ns/business-stocks_and_economy/
Thursday, May 6, 2010
Tuesday, May 4, 2010
Pending Home Sales Rise 5.3% in March
Highest level since Oct. and a 21 percent rise from same month a year ago
Source: Associated Press
The number of buyers who signed contracts to purchase homes surged more than expected in March, another sign that government incentives are propelling the housing market this spring.
The National Association of Realtors said Tuesday its seasonally adjusted index of sales agreements for previously occupied homes rose 5.3 percent from a month earlier to a reading of 102.9.
It was the highest level since October and a 21 percent increase from the same month a year earlier. February's reading was revised upward slightly to 97.7. Economists surveyed by Thomson Reuters had expected the index would rise 4 percent to 101.5
For the full Article Click on this Link....
http://www.msnbc.msn.com/id/36937609/ns/business-real_estate/
Source: Associated Press
The number of buyers who signed contracts to purchase homes surged more than expected in March, another sign that government incentives are propelling the housing market this spring.
The National Association of Realtors said Tuesday its seasonally adjusted index of sales agreements for previously occupied homes rose 5.3 percent from a month earlier to a reading of 102.9.
It was the highest level since October and a 21 percent increase from the same month a year earlier. February's reading was revised upward slightly to 97.7. Economists surveyed by Thomson Reuters had expected the index would rise 4 percent to 101.5
For the full Article Click on this Link....
http://www.msnbc.msn.com/id/36937609/ns/business-real_estate/
Friday, April 23, 2010
New Home Sales See Biggest Jump in 47 Years
Sales surge 27 percent, the strongest month since July
Source: Associated Press
Sales of new homes surged 27 percent last month, bouncing off the previous month's record low and blowing past expectations as government incentives and better weather boosted sales.
The Commerce Department said Friday that new-home sales rose in March to a seasonally adjusted annual sales pace of 411,000. It was the strongest month since last July and the biggest monthly increase in 47 years.
Economists surveyed by Thomson Reuters had expected a sales pace of 330,000. February's results were revised upward to 324,000, but remained an all-time low. Sales had been especially weak over the winter, partly due to bad weather in much of the country.
For the full article, click on the link below...
http://www.msnbc.msn.com/id/36735173/ns/business-real_estate/
Source: Associated Press
Sales of new homes surged 27 percent last month, bouncing off the previous month's record low and blowing past expectations as government incentives and better weather boosted sales.
The Commerce Department said Friday that new-home sales rose in March to a seasonally adjusted annual sales pace of 411,000. It was the strongest month since last July and the biggest monthly increase in 47 years.
Economists surveyed by Thomson Reuters had expected a sales pace of 330,000. February's results were revised upward to 324,000, but remained an all-time low. Sales had been especially weak over the winter, partly due to bad weather in much of the country.
For the full article, click on the link below...
http://www.msnbc.msn.com/id/36735173/ns/business-real_estate/
Thursday, April 1, 2010
New York State Home Sales Continue to Post Gains Compared to 2009
Source: New York State Association of Realtors
The New York state housing market continued to post double-digit sales gains compared to a year ago as February 2010 sales jumped 13.2 percent compared to February 2009, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price rose by more than 12 percent compared to February 2009.
New York REALTORS sold 4,016 existing single-family homes in New York State during February 2010, a 13.2-percent increase compared to the February 2009 sales total of 3,548. February sales did lag behind the January 2010, when 4,555 homes were sold.
The February 2010 median sales price in New York State of $225,000 represents an increase of 12.5 percent compared to the February 2009 median of $199,950, but fell off by 4.3 percent from the January 2010 median of $235,000.
Click here to learn more.
The New York state housing market continued to post double-digit sales gains compared to a year ago as February 2010 sales jumped 13.2 percent compared to February 2009, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price rose by more than 12 percent compared to February 2009.
New York REALTORS sold 4,016 existing single-family homes in New York State during February 2010, a 13.2-percent increase compared to the February 2009 sales total of 3,548. February sales did lag behind the January 2010, when 4,555 homes were sold.
The February 2010 median sales price in New York State of $225,000 represents an increase of 12.5 percent compared to the February 2009 median of $199,950, but fell off by 4.3 percent from the January 2010 median of $235,000.
Click here to learn more.
Friday, February 26, 2010
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AVERAGE SALE PRICE LAST 3 YEARS
AVERAGE DAYS ON MARKET LAST 3 YEARS
UNITS SOLD LAST 3 YEARS
AVERAGE SOLD PRICE TO ASKING PRICE RATIO LAST 3 YEARS
AVERAGE SALE PRICE LAST 3 YEARS
AVERAGE DAYS ON MARKET LAST 3 YEARS
UNITS SOLD LAST 3 YEARS
AVERAGE SOLD PRICE TO ASKING PRICE RATIO LAST 3 YEARS