HAPPY JULY 4th!

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This Post is from the BiggerPockets Real Estate Blog. Copyright © 2008 BiggerPockets, Inc. All Rights Reserved.

HAPPY JULY 4th!

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Happy 4th of July

Enjoy the day and think about how blessed you are to live in this great country!Start of the Peachtree City, GA 4th of July ParadeOther Posts You May Be Interested In:Housing Starts Will Collapse in 3rd Quarter 2007Zillow Changing How Real Estate Transactions Are ReportedMarket Slowdown Causing Steep Slowdown in Real Estate AgentsReal Estate Appraisals [...]

Read The Full Article:
http://feeds.feedburner.com/~r/TheRealEstateBloggers/~3/326726008/

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Blimey! UK home prices to fall by 33%

video details and more



(and for those of you keeping score at home, add in inflation and that 33% turns into 50% pretty quick)

Read The Full Article:
http://housingpanic.blogspot.com/2008/07/blimey-uk-home-prices-to-fall-by-33.html

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At the WaPo, a deconstruction of the news

It isn’t often that you see one of the major media deconstructing the news, but Dana Milbank at the Washington Post fisks assistant Treasury secretary’s Phillip Swagel’s recent news conference discussing a dismal jobs report.From the story:Think you’re worried about the economy? Phillip Swagel is a wreck …Yesterday’s report that 62,000 jobs were lost brought [...]

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http://feeds.feedburner.com/~r/HousingWire/~3/326643073/

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U.S. Invasion: U.K. Home Prices June 2008

The two most prominent and long running monthly U.K. housing price indices continue to register accelerating year-over-year declines, the largest seen in at least 15 years.

The ?Nationwide? series, which reported data through June, indicated that U.K. home prices declined 6.3% on a year-over-year basis while the ?Halifax? series, which reported data through May indicated that U.K. home prices declined 6.41% on a year-over-year basis.

Both indices are similar to our own S&P/Case-Shiller data series in that they both implement a methodology that seeks to standardize the quality homes included as source data and track the price changes occurring between sales instead of simply tracking the distorted average or median sales price.

The following charts (click for larger) show the price movement since 1991 to each index.

Notice that annual price appreciation peaked in 2003 and continued to weaken consistently until early 2008 when it actually devolved into annual depreciation.




Read The Full Article:
http://paper-money.blogspot.com/2008/07/us-invasion-uk-home-prices-june-2008.html

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The Arlington Artifice: May 2008

This recurring monthly post tracks the latest results of the housing market seen in Arlington Massachusetts.

I choose Arlington as a result of the Boston Globe?s recently published and absurdly anecdotal and ludicrous farce about the town?s ?hot? housing market.

The ridiculous tone and outright mishandling of the housing data by the Boston Globe ?reporter? would almost be comical if it weren?t for the fact that the Globe?s editor, Martin Baron, ALSO blundered seriously when he responded to my email about the discrepancies.

Baron attempted to justify the articles contents and in so doing, he disclosed his disgracefully poor and obviously unsophisticated abilities with even the most basic economic data.

The May results again confirm that Arlington is by no means a ?stand out? amongst its neighboring towns as Baron suggested in his email and, in fact, is following along on a path wholly consistent with the trend seen in the county, state, region and nation.

Why would an editor of a nationally recognized newspaper think that a single town would continue to function as an isolated bubble amongst a backdrop of the most significant nationwide housing recession since the Great Depression?

As I have shown in my prior posts, this data when charted and compared to other towns in the region proves there are absolutely no grounds to call Arlington?s market exceptional.

The most notable feature of the May results is unquestionably the low number of home sales with only 83 sales for the entire year to date, the lowest readings since the recessionary period of 1991.

Another important point to remember is that when sales decline dramatically the median selling price can jump wildly up or down since the small number of sales provides a small set with which to determine the ?middle? selling price.

The following chart (click for much larger version) shows a history of Arlington?s May median sales price since 1988 along with the annual outcome.

Regular readers will notice that the ?year-to-date? median selling price, a more accurate median indicator, has continued to decline as the number of home sales have slowly accumulated and now stands at $503,000.

My expectation is for the median selling price to be well below $470,000 by the end of the year.

The next chart (click for much larger version) shows that home sales in Arlington have been essentially flat during the last 15 years, a result that is generally to be expected when looking only at the sales of one town in isolation. That being said though, Arlington has seen only 83 home sales this year, the lowest result on record since 1991.

The final chart shows how the year-to-date median sales price and combined sale count for Arlington, Bedford, Belmont, Cambridge and Lexington has changed since 1988. Notice again that because of the low sales count the current median price data is very volatile jumping radically up or down for each of town.

In review, the data shows that there is nothing exceptional about Arlington?s housing market proving clearly that the claims made in the Boston Globe article and later endorsed by its editor Martin Baron were entirely erroneous.

Read The Full Article:
http://paper-money.blogspot.com/2008/07/arlington-artifice-may-2008.html

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Las Vegas 4th of July Fireworks And Independence
Day Patriotic Events

Las Vegas 4th of July Fireworks Special Events8th Annual 4th of July 5K Blast & 1 Mile WalkThe Las Vegas Running Team presents this annual event at Bunker Family Park.  Race starts at 7 AM on July 4.  There will be prizes, awards, music, cash drawings, food and fun!Clark County Pools and Water Parks Fourth [...] Tags: Las Vegas News, las vegas 4th of july fireworks, las vegas independence day, las vegas 4th of july, 4th of july in las vegas, las vegas event

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Declutter Your Los Angeles Home

The more I advise my clients to declutter their homes prior to ?going to market?, the more disgusted I become with my own mess. I have been on a mission to get rid of ?stuff?. In my closet, were thousands of dollars (yes, thousands of dollars) worth of St. John Knits, which I have not worn in years ? YEARS! I finally donated them to the Glendale YWCA and I felt good about it. Women in need (typically abused) come to the YW and get their life back in order; perhaps they will wear my clothes on a job ...

Read The Full Article:
http://los-angeles-real-estate-blog.com/2008/07/04/2008074declutteryourhome.aspx

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