Real Estate Information Archive

      Nationwide housing starts inched up 1.7 percent to a seasonally adjusted annual rate of 546,000 units in July from a downwardly revised figure in the previous month, according to U.S. Commerce Department figures released today. The gain occurred entirely on the multi-family side, with single-family housing production falling 4.2 percent to 432,000 units.

       The entire 1.7 percent gain in housing production this July was due to a 32.6 percent jump on the more volatile multi-family side, which brought that sector back closer to trend at an 114,000-unit rate following a major dip in the previous month. Meanwhile, single-family housing production declined 4.2 percent to a seasonally adjusted annual rate of 432,000 units, its lowest mark since May of 2009. 

Don Schaller
Broker/Owner
Schaller Family Realtors
Dickson Realty, Truckee
alltruckeehomes.com

     Many Americans do still maintain a core belief in the inherent value of owning a home. 72 percent of American adults still believe home ownership is part of their personal American dream.  While this is a decline from 77 percent of adults six months ago, the result shows that the American Dream of home ownership is still alive, according to Trulia.com and its recent American Dream survey on attitudes toward home ownership.

     With housing recovering slowly, most economists predicted in a recent survey that it would take at least five years for average home prices to climb back to the levels they commanded in 2006. This year, some hard-hit areas may see another dip, but properties values will most likely rise.                  

    "Softness in the summer months will be followed by firming conditions and momentum as the year unfolds and the economy strengthens," says Robert Denk, an economist for the National Association of Home Builders.

     However, analysts at Moody's Analytics say that the possibility of double-dip recession and another 20 percent decline in home prices has risen to about 25 percent.

Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

alltruckeehomes.com

          The next one is considered without much substance.   The Fed is advertising that if someone’s home is 25% below the homes initial value and it is a Fannie Mae or, Freddie Mac loan the lender is required to re make a loan for a 25% reduction in the original value.

  Most professional people looking at this program think that lenders can’t be forced to make a loan by reducing the home value by 25%.  Could it be that the politicians in Washington are trying to garner points even if their bills are not founded on sound judgments, as a forerunner to a tough presidential election?

           I don’t know about you but, I’m getting tired of ill thought out ideas that are costing a lot of money that we and our grandchildren will be saddled with for generations.

 Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

Alltruckeehomes.com

It strikes me that we have a very tenuous grip on this thing called life.  One never really knows when the last embrace of a loved one may be the last one we give or receive.  The one enduring value we human beings understand, whether we be Arabic, French, German or, Chinese, is LOVE.  It radiates from us through our eyes and the energy that we give to our fellow human beings.  No language is necessary. 

          I encourage us all to remember our tenuous grip on this thing called life, as time is never negotiable, and to take the time to look into the eyes of our mates and friends, often, and say from the heart, I love you.  Namaste

Don Schaller

alltruckeehomes.com

     Construction spending in the U.S. unexpectedly increased in June, boosted by gains in government programs that made up for declines in private residential and commercial projects.  The 0.1 percent increase in outlays followed a revised 1 percent drop in May that was larger than previously estimated, figures from the Commerce Department showed today in Washington. Homebuilding and sales are falling after the expiration of a government tax credit that boosted builder sentiment and brought starts to the highest level in more than a year in April. Demand will now depend on the state of the labor market and foreclosures.
 
Economists forecast construction spending would decline 0.5 percent, according to the median of 52 projections in a Bloomberg News survey. Estimates ranged from a drop of 2.1 percent to a 0.5 percent gain. Construction spending decreased 7.9 percent in the 12 months ended in June.

According to major home pricing sources, home pricing nation wide are gathering strength.  no big surges but, at least prices are showing strength in the last 2 quarters.  It is one thing to show movement nation wide but, we here on the firing line have seen strength in our personal businesses  in our Lake Tahoe, Truckee communities.

Data through May 2010, released by Standard & Poor's for its S&P/Case-Shiller Home Price Indices show that the annual growth rates in 15 of the 20 MSAs and the 10- and 20-City Composites improved in May compared to those reported for April 2010.
 
The 10-City Composite is up 5.4% and the 20-City Composite is up 4.6% from where they were in May 2009. While 19 MSAs and both Composites reported positive monthly changes in May over April, only 12 of the MSAs and the two Composites saw better month-over-month growth rates in May than those reported in April.
 
While still positive, Boston, Charlotte, Cleveland, Dallas and Denver reported weaker annual growth rates compared to their reports from last month. Seven of the 20 MSAs are still reporting negative annual growth rates with May's data.

Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

alltruckeehomes.com

Some thoughts on why Tahoe Donner is such a great buy in the Truckee area. Your comments are always appreciated.

Kane Schaller
kane@schallers.net
530-550-5009

   Fannie Mae says it will cover the closing costs on purchases of its REO homes.  From now until May 1, people purchasing a home through HomePath, Fannie Mae's REO disposition operation, will receive up to 3.5 percent of the final sales price, which can be applied toward closing costs or used to purchase appliances for their new home. At the end of September, Fannie Mae had 72,275 REO properties on its books, marking a 7 percent increase year-over-year.
  

YOU TAKE THE FAMILY SKIING.   The Schaller's  take care of the business.   truckeehomefinder.com

Take a tour of Stockholm Way, it is a great listing at $975,000:

3832 square feet, Built in 2002, 4 bedroom, 3.5 bath, oversized 2 car garage and 360 degree views

Kane Schaller