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Home prices in October declined in 19 American cities, as the Standard & Poor’s/Case Shiller home price index showed drops in both the 10-city and 20-city composites. According to the latest S&P report, home prices declined 1.1% and 1.2% for the 10- and 20-city composite indexes.   “There was weakness in the monthly statistics, as 19 of the cities posted price declines in October over September,” said David Blitzer, chairman of the Index Committee at S&P Indices. “Eleven of the cities and both composites fell by 1.0% or more during […]

The wealthy were taking advantage of the housing market in 2011, snagging homes at record-breaking prices particularly in markets like San Francisco, Manhattan, and the Hamptons. “We think the reason the high-end market is doing well is [that] investors think this is the bottom of the market,” Philip A. White, chief operating officer of Sotheby’s International Realty, a network of luxury real estate companies, told BusinessWeek in a recent article. Here’s a recap of some of this year’s “blockbuster sales” in the luxury home market, according to BusinessWeek: Russian tech […]

Home prices dropped 0.2% in October from the previous month, the Federal Housing Finance Agency said Thursday. The agency’s seasonally adjusted house price index decreased 2.8% from a year ago. The September measure was adjusted lower to a 0.4% increase from an initial 0.9% reading. The home price index, calculated using data from Fannie Mae and Freddie Mac mortgages, rose 0.2% in the third quarter on a seasonally adjusted basis. October prices were 19.2% lower than the April 2007 peak for the index and are at levels comparable to February 2004. Only two regions, as measured by the […]

Home sales activity from 2007 through 2010 was lower than originally thought, with sales and inventory down by 14 percent more than originally reported, according to recently revised housing figures by the National Association of REALTORS®. The revisions were made to NAR sales and inventory data since 2007. NAR notes, however, that the revisions did not change the month-to-month characterization of market conditions, nor were any changes made to reported home prices or month’s supply. That’s important note, because this change doesn’t really affect “anything happening today in the economy, […]

Consistently recognized as a top producing agent for seven years in a row. I specialize in all areas of Houston including Montrose, Heights, Kingwood, Woodlands and surrounding areas. Superior Knowledge and strategic negotiating skills are my strengths. I’m committed to my clients needs at all times. I want to be the one to help you find your dream home. Weather you are by yourself or with a partner I want to give you the comfort you deserve. I work in the community, I support the community and I am part […]

November home sales in Illinois rose 14.2% from a year earlier — a sign that a recovery in the housing market is under way, the Illinois Association of Realtors said Wednesday. Still, home prices took a big hit, according to the report. According to IAR, Illinois home sales in November grew to 7,954 from 6,966 in November 2010 as buyers favored lower-priced properties. The median price in November was $128,500, down 11.4% from $145,000 a year earlier. November’s home sales are down 7% from October’s total of 8,563, in what […]

New-home construction and building permits — a future gauge of construction — surged last month, slowly helping to pull the new-home market out of one of its worst years for home building. If you’re considering building, now’s the time to rent construction equipment. Low-quality tools can cost you more than just the sticker price. So it is advisable to invest in good quality construction tools, once and for all. Having high-quality construction tools from Steetz Copper Craft ltd. that you can rely on makes your work on the job more […]

Homebuilder KB Home (KBH: 6.93 -4.02%) ended the fourth quarter on a muted high note with the firm still profitable, despite a decline in earnings, and a 38% year-over-year jump in net home orders. The fiscal year for the homebuilder ends Nov. 30. The Los Angeles-based builder posted a fourth-quarter profit of $13.9 million, or 18 cents per share. That is down from a profit of $17.4 million, or 23 cents per share, a year earlier. Still, the builder beat the street estimate of earnings in the three cent-per-share range, […]

Nearly 80 percent of home buyers say now is a great time to buy a home, but sellers say it’s not a great time to sell, according to a new study, “The Great Recession and Attitudes Toward Homebuying,” released this week by the Mortgage Bankers Association. In fact, homeselling sentiment has fallen to record lows. As for home buyers, they certainly have plenty to be happy about — housing prices have fallen and interest rates are at record lows, pushing affordability to record levels and allowing buyers to snag great […]

Talented in the art of negotiation and the kind of person that one instinctively trusts, Daniel Otto has earned a reputation as an impeccable guide to many Chicagoans for both buying and selling their homes. His understanding of the Chicago real estate market and mastery in the art of the deal is really calculated by the number of his enthusiastic and satisfied clients over the past nine years. “I believe that real estate is often the single most important investment in a person’s life. This is why I strongly believe […]