Real Estate Information

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

           Congress has just come up with 1 Billion to help unemployed, behind in mortgage, home owners.   This assistance also includes people that have medical problems.  Under this provision home owners that are at least 3 months behind in their mortgage payments can get up to a $50,000 loan to pay their mortgage.

          These loans will be made available through The U.S. Department of Housing and Urban Development on October 1, 2010.

           This assistance should be able to help many families in the Truckee, Lake Tahoe region since local funds for this purpose are vary scarce or, non existant.

Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

alltruckeehomes.com

     Both sellers' asking prices and inventory levels of residential properties rose slightly during the second quarter of this year, according to a market gauge developed by Altos Research that tracks such statistics in 10 major cities.

    Altos' 10-city composite includes Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco, and Washington, D.C.
 
     The composite of home prices essentially flat lined between May and June. However May had marked the first time in nine months that Altos' index posted a month-over-month increase as most of the major cities broke free of the downward spiral, and it helped to push the second quarter reading up 0.2 percent.

alltruckeehomes.com

       Builder confidence in the market for newly built, single-family homes declined for a second consecutive month in July to its lowest level since April of 2009, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The HMI fell two points from a downwardly revised number in the previous month to 14 for July.

           
 
      Regionally, the HMI results were mixed in July. The Northeast, which has a smaller survey sample and therefore is prone to greater monthly volatility, posted a seven-point increase to 23 this month, while the Midwest posted a one-point improvement to 15. The South and West each posted five-point declines to 14 and 9, respectively

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

Across the U.S., home prices posted 5.2% quarter-over-quarter gains, placing prices firmly 8.8% above levels experienced one year ago, according to Clear Capital's Home Data Index™ (HDI) Market Report.  Regionally, the Midwest and South saw the largest quarterly price growth, while the West and Northeast show more stable quarterly gains. 
 

    Home price gains across the United States were helped largely by the quarterly jump in prices by the top 15 highest performing major markets. Quarterly prices for the group are up an average 12.6%, while yearly price gains are up 17.1%.
 
     Home prices in the Los Angeles MSA rebounded 13.2% from its market bottom one year ago. While this surpassed the 8.8% gains seen nationally for the same period, conditions varied widely.

    As a whole, the REO saturation rate was reduced to 24.6 percent, a decline of 3.2 percentage points from what was reported last month.

Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

alltruckeehomes.com

     Housing-related loan delinquencies improved across the board in the first quarter of 2010, the American Bankers Association (ABA) recently reported.  According to ABA's first quarter Consumer Credit Delinquency Bulletin, home equity delinquencies fell for the first time in two years to 4.12 percent of all accounts, down from 4.32 percent the previous quarter. During the same period, home equity lines of credit delinquencies fell to 1.81 percent from 2.04 percent, and property improvement loan delinquencies fell to 1.4 from 1.63 percent.

Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

alltruckeehomes.com

     While borrowers with "super prime" credit scores accounted for just 5 percent of the mortgage delinquencies, about 28 percent of their defaults were calculated and strategic.  This relatively small actual number is nevertheless causing the credit industry to look at new ways to evaluate walk-away risk even among the very creditworthy.

    Credit bureau Experian reports that borrowers in California, Florida, and other hard-hit states are more likely to walk away than people living in states with more stable markets. Also, residents of states where lenders have no recourse are more likely to toss in the towel.

People with small amounts of negative equity also are more likely to stay and pay.

Don Schaller

Broker Owner

Schaller Family Realtorrs

Dickson Realty Truckee

alltruckeehomes.com