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It really is that simple. I see uninformed shills write that there is no shadow inventory and other nonsense that realtors tell their customers to dupe them into a false sense of security. The fact is that shadow inventory does exist. It is very large, and eventually banks are going to have to liquidate this inventory. This liquidation will be the collapse of a cartel and may not be the orderly flow they are hoping for.

As we edge closer to issuing coveted IOUs, the spin cycle is out in full force. A report was issued showing that CEOs at the 50 firms that laid off the most workers since the recession started earned an average of $12 million. I guess the recovery will depend on who you are asking.

Well, it’s that time of year again.  After this weekend of fun and relaxation for most, it will be time to think about the cooler fall and winter months ahead.  Preparing your home for the weather now is always a great idea.  Here’s a few tips you might want to consider the Autumn.
By following some [...]

Prospective buyers kept trying to beat down his prices, even after he shaved $30,000 off the initial list prices ranging from $240,000 for a one-bedroom, one-bath condominium to $475,000 for a two bedroom, 2 ½-bath townhouse. “There were no sales,” Rubin said. “Everyone wants a bargain. They read about foreclosures and think they can buy for distress prices.”

Case-Shiller is a backward looking index. The increasing number of foreclosures, the complete collapse in new home sales, a massive increase in inventory, and the end of tax credits all suggest we are near the end of the line for this bounce in home prices.

The truth is that home prices cannot rise faster than inflation unless we are inflating a bubble. The only thing surprising is that reasonable people who understand this are being heard right now. Usually, the bullshit from the NAr and the general level of kool aid intoxication in the media makes more noise.

Homebuyers’ interest in green home features increases
More than half of all home shoppers report that green home features, from energy efficient appliances to solar panels, are an important part of their purchasing decision, though only one percent of home listings market these features to buyers, according to a ZipRealty survey.  The survey revealed that 55 [...]

Most Canadians, of course, believe that they are different because they have more sound lending practices than we Americans. They may, but that doesn’t mean they don’t also have a bubble. They aren’t different, just late to the party.

The general public is waking up to the reality that the artificial bottom the government produced is not curing the housing market’s ills. It’s time to let house prices fall.

California Short Sale sellers pay attention in the upcoming days as California SB 931 is closer to becoming a reality! When Governor Schwarzenegger signs California SB 931, Californians will rejoice! This should make California Short Sale sellers breathe a little easier. California SB 931 will ban deficiency judgements for California short sale [...]

Sacramento homebuyers, if you are looking at buying an older home in the Sacramento region you may qualify for a grant from Sacramento Association of Realtors for energy efficient improvements of $2,000. This grant program was funded by a $234,000 SAR fund and is believed to be the first of its kind in California.
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Dylan Ratigan and Peter Schiff discuss the economy, stock market, and housing.

That one final, cathartic wave would be awfully painful. But, we would get through it. And, once we’ve hit bottom, there’s no where to go but up!

Don’t get too excited yet, homebuyers. There will no doubt be more Government “extend and pretend” tinkering before many of these homes actually hit the market for sale.