In my opinion the news this week is telling us the attitude of the American consumer, and it\'s not good. Reported today in the SJR Marketplace section (11-15-08) is that retail sales fell by the largest amount on record. What grabbed my attention was the decline was greater than the decline following the attacks of 9-11-01. Are the problems the American consumer faces today greater than on...
Time to get serious about choosing our next president with the election a mere twelve days away. Who are you voting for and why? In my opinion the housing market will be impacted by the plans of who is elected. Based upon their campaign pledges, here is what to expect.
McCain promises not to raise income taxes on anyone, and has proposed corporate, and capital gains tax cuts that will help...
As you know a massive government bailout was passed with the goal of saving the economy. The Oct. 4, 2008 front page headlines in the SJR \"Bailout is coming, but will it work?\" Good question. In my opinion the headline should have been \"Bailout coming, was it necessary?\"
The bailout represents much more than the $857 billion dollars of your tax money pledged to be spent to save the...
What drives the economy? Consumer spending. Does consumer confidence affect consumer spending?
When the president of the U.S. holds a prime time speech and announces that the financial markets are on the verge of collapse that would throw the economy into deep recession, what does that do for consumer confidence?
The president has requested a $700,000,000,000 bailout of Wall Street...
Simply stated, August stunk for the local housing market in Springfield Illinois. Closed home sales down 17.5% by 73. Sales pending down 17.1% by 76. Median sale price down 1.7% by $2000. The average sale price down 2.6% by $3493.
Through the first eight months of 2008 closed sales are down 14.1% by 409. One month was up, one even, and six of the eight months sales declined.
For the year...
Friday's edition of the SJR, 7-25-08, reported the increasing unemployment numbers, the falling home prices nationally, and the June home sales for The Capital Area Association of Realtors. Not much good news to be found in those articles, because that's the way it is. A reality check if you will.
Then today the headlines on page one state gas can easily return to $4 a gallon. You can...
This is a preliminary report for home sales in one of the nations most stable real estate markets for the month of June, second quarter, and first half of 2008. The numbers will change slightly as member brokers of the Capital Area Association of Realtors have through July 3 to report sales for June. Don't expect any significant changes.
The one trend that stands out is the median sale...
The recipe for slow growth is firmly in place. Take evaporated disposable income going toward everyday necessities like food and, gas, mixed with a dash of higher unemployment, dysfunctional government, inane energy policy, high taxes, pulled pork (earmarks/farm subsidies), and you will get a heaping helping full of wait and see stew.
This is the wealthiest country on earth, and there's...
There's no question the pace of home sales has slowed from 2007. The Capital Area Association of Realtors member brokers report closed home sales year to date are down 16.6% to 1079 from 1295 last year through May 9. This does not mean the market is crashing. This is the first measurable slowdown in over a decade, however this is not a natural cyclical slowdown, it is the result of governmental...
Welcome to real time real estate. Preliminary numbers are in for the local housing market for April of 2008. As predicted here, based upon March sold pending contracts, member brokers of the Capital Area Association of Realtors MLS report closed home sales were down from April 2007.
With one business day remaining for brokers to report, the 321 closed home sales are down by 64 or by 16.6%...
