Sales and Inventory History - Aug and Sept '06

[Smiling JOe]

Sorry for the delay on last month. See attached. Remember, these numbers are only stats. Use them with a grain of salt. If you see numbers that look way off, ask questions so that you can find out the reasons why the numbers look the way they do. For example, residential land in SoWal has a huge decrease in the price. That is directly attributed to 6 of the 15 sales (40%) being lots located north of Hwy 98, with sold prices between $71,000 on up to about $110,000. There were several sales in the $200K - $400K+ as well, but the avg price is skewed because of the cheaper sales north of Hwy 98.

Again, ask questions to find out the why behind the numbers.

 

[Smiling JOe]

more numbers

 

[SHELLY]

"With a general background of growing population and favorable affordability conditions, home sales are staying at very healthy levels," said Lereah. "As a result, we'll continue to see above-normal home price appreciation for the foreseeable future." David Lereah, Chief Economist for the National Association of Realtors...Sept 28, 2005

<Insert your own video clip of calendar with pages flying off here>

“The housing boom ended more than a year ago, but sellers are having a tough time accepting that fact, says David Lereah, chief economist at the National Association of Realtors. The result has been tumbling sales as buyers stay on the sidelines.” Sept 18 2006

 

[Bob]

thanx SJ, for doing everyone a service with this info

 

[Indigo Jill]

:clap_1: :clap_1: Thanks, SJ for taking the time to post this info! Very infomative.

 

[nmosley]

I saw this article and wondered what ya'll think about Greenspan's view on this, particularly Shelly... though I think it would be excellent if it were true I have my doubts. I do hope you are all having a great start of a new week though. Later - naj

Housing market worst may be over: Greenspan
Mon Oct 9, 2006 2:23pm ET

More Business News... Email This Article | Print This Article | Reprints [-] Text [+] WASHINGTON (Reuters) - The U.S. housing market appears to be emerging from its recent travails and the "worst may well be over," former Federal Reserve Chairman Alan Greenspan was quoted as saying on Friday.

"I suspect that we are coming to the end of this downtrend, as applications for new mortgages, the most important series, have flattened out," Greenspan said at an event in Calgary, Canada, sponsored by BMO Financial Group, according to a transcript BMO made available.

"There is a good chance of coming out of this in good shape, but average housing prices are likely to be down this year relative to 2005. I don't know, but I think the worst of this may well be over," he added.

Applications for U.S. home mortgages jumped in the latest week bolstered by increases in refinancing and new home purchases as long-term rates decreased, according to data from the Mortgage Bond Association.

 

[SHELLY]

I saw this article and wondered what ya'll think about Greenspan's view on this, particularly Shelly... though I think it would be excellent if it were true I have my doubts. I do hope you are all having a great start of a new week though. Later - naj

Shelly,

In regards to your inquiry of my recent "dovish statement" about Housing....it was only a partial quote. What I really said was, "The worst of this may well be over since I finally unloaded those five pre-construction condos in Panama City Beach on some bigger fool!" The rest of the investulators are toast!

Warmest Regards,

Your Pal, AL

 

[Bobby J]

That was funny. I don't care who you are... That was funny. I like you Shelly, I only wish I knew you. I waited the other day for coffee at Starbucks but know Shelly What up????

 

[Bob]

Shelly,

In regards to your inquiry of my recent "dovish statement" about Housing....it was only a partial quote. What I really said was, "The worst of this may well be over since I finally unloaded those five pre-construction condos in Panama City Beach on some bigger fool!" The rest of the investulators are toast!

Warmest Regards,

Your Pal, AL

Shelly, that's not Greenspan...that's Woody Allen's dad.

 

[Jellyfish]

Greenspan has a truly awful record at calling market inflection points.

In 1972, he made the call for a roaring bul market. 1973 was a chlling bear market and the whole seventies were awful for stocks. He was way too early in 1996 on the "irrational exuberance" thing. In 2000, he became a cheerleader for the "New Economy" just when exuberance had gotten truly irrational; the market has just recently recovered to those highs of 2000. More recently, he encuraged people to use ARMS just as he himself embarked on a long episode of tightening interest rates.