|
Market Trends
Commentary Provided byBill & Nonnie McNeil dramitic fall-off in responses last two months |
|||
| Report Date | Fall 2009 | ||
| Nearest Metro Area | |||
| Buyers’ or Sellers’ Market | More sellers than buyers | ||
| Average Time on Market | More than 120 days | ||
| Market Trend | Increasing | ||
| Housing Inventory | Good supply - Some Prices | ||
| Average Home Price | $250,000 - View Graph Trend | ||
| Best Selling Price Range | |||
| Worst Selling Price Range | |||
| Compared to Last Year | Down 10-15% | ||
| Prices As % of Asking Price | 90-95% | ||
| Multiple Offers? | No | ||
| Greatest Activity | Repeat Buyers | ||
| Buyer Activity for the past 90 days in Folsom Abita Springs and Madisonville is | |||
| Seller Activity for the past 90 days in Folsom Abita Springs and Madisonville is | |||
| Is Financing Available For Qualified Buyers in Folsom Abita Springs and Madisonville? | |||
| Existing Home Prices for the past 90 days are | |||
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | |||
| Housing Hot Spots | folsom horse farms | ||
| Reason to Buy/Sell | Other | ||
| Average Sold Price | $250,000 - View Graph Trend | ||
| National Real Estate Market | |||
| National Summary: National Housing Market Recovery Near? Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there. Click here for full article... | |||
|
CONNECT WITH A LOCAL PROFESSIONAL
Bill & Nonnie McNeil
ERA Stirling Properties Mandeville, Louisiana 985-259-1706 wrmcneil@charter.net Agent Home Page
Send Me New Real Estate Listings |
Get Free Monthly Newsletter | Find Folsom Abita Springs and Madisonville Homes for Sale | | Search Folsom Abita Springs and Madisonville Real Estate | |
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Folsom Abita Springs and Madisonville Local News
News for Folsom Abita Springs and Madisonville, LA - Monday November 23rd, 2009 12:36pm
Mortgage Delinquencies Reach a Record High - NYTimes.com
€bt ~t11Uork €mts
This copy is for your personal, noncommercial use only. You can order presentation-ready
copies for distribution to your colleagues, clients or customers here or use the "Reprints" tool
that appears next to any article, Visit www.nytreprints.com for samples and additional
information. Order a reprint of this article now.
November 20, 2009
PIiUNTER·f"RIEN:JU FOR14AT
SPC IiSDR£D BY
Page 1 of 1
HAVE A
FANTASTIC
THANKSGIVIN I
U.8. Mortgage Delinquencies Reach a Record High
By DAVID STREITFELD
The number of people at least one month behind on their house payments rose to a record in the third
quarter, the Mortgage Bankers Association said Thursday.
Nearly 10 in 100 homeowners are delinquent, according to the association's data, up from about seven out of
100 in the third quarter of 2008.
These numbers do not include those who are actually in foreclosure, a figure that also rose sharply. The
combined percentage of those in foreclosure as well as delinquent is 14-41 percent, or about one in seven of
mortgage holders.
"Despite the recession ending in mid-summer, the decline in mortgage performance continues. Job losses
continue to increase and drive up delinquencies and foreclosures because mortgages are paid with paychecks,
not percentage point increases in G.D.P.," Jay Brinkmann, the association's chief economist, said in a
statement.
The data indicates that borrowers in trouble are no longer just those who took out subprime loans. Highquality
prime fixed-rate mortgages now represent the largest share of new foreclosures.
The survey is based on a sample of more than 44 million mortgage loans serviced by mortgage companies,
commercial banks, thrifts, credit unions and others. The association's records date back to 1972.
Copyright 2009 The New Yorl
http://www.nytimes.com/2009/11/20/business/20mortgage.html?J=l&hp=&pagewanted ... 11/19/2009
News for Folsom Abita Springs and Madisonville, LA - Friday November 20th, 2009 8:04am
Mortgage Delinquencies Reach a Record High - NYTimes.com
€bt ~t\11Uork €\mts
This copy is for your personal, noncommercial use only. You can order presentation-ready
copies for distribution to your colleagues, clients or customers here or use the "Reprints" tool
that appears next to any article, Visit www.nytreprints.com for samples and additional
information. Order a reprint of this article now.
November 20, 2009
PIiUNTER·f"RIEN:JU FOR14AT
SPC I\iSDR£D BY
Page 1 of 1
HAVE A
FANTASTIC
THANKSGIVIN I
U.8. Mortgage Delinquencies Reach a Record High
By DAVID STREITFELD
The number of people at least one month behind on their house payments rose to a record in the third
quarter, the Mortgage Bankers Association said Thursday.
Nearly 10 in 100 homeowners are delinquent, according to the association's data, up from about seven out of
100 in the third quarter of 2008.
These numbers do not include those who are actually in foreclosure, a figure that also rose sharply. The
combined percentage of those in foreclosure as well as delinquent is 14-41 percent, or about one in seven of
mortgage holders.
"Despite the recession ending in mid-summer, the decline in mortgage performance continues. Job losses
continue to increase and drive up delinquencies and foreclosures because mortgages are paid with paychecks,
not percentage point increases in G.D.P.," Jay Brinkmann, the association's chief economist, said in a
statement.
The data indicates that borrowers in trouble are no longer just those who took out subprime loans. Highquality
prime fixed-rate mortgages now represent the largest share of new foreclosures.
The survey is based on a sample of more than 44 million mortgage loans serviced by mortgage companies,
commercial banks, thrifts, credit unions and others. The association's records date back to 1972.
Copyright 2009 The New Yorl
http://www.nytimes.com/2009/11/20/business/20mortgage.html?J=l&hp=&pagewanted ... 11/19/2009
News for Folsom Abita Springs and Madisonville, LA - Thursday November 19th, 2009 11:06am
NOVEMBER 2009
We at STEDF wish you and your family a Happy Thanksgiving!
New Initiative at Stennis Enhances Corridor Appeal
The I-10 Technology Corridor will soon have another attraction, as the INIFINITY Science Center is beginning the bid process to construct a science and visitors center outside NASA's Stennis facility in Hancock, County, Mississippi. Read more
Northrup Grumman Opens New High-Tech Facility
Northrop Grumman's has opened its new 20,000-square-foot facility in Slidell, combining that office and its Stennis Space Center operations in a $4 million campus. Read more
--------------------------------------------------------------------------------
INCENTIVE CORNER
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Enterprise Zone Program - State Incentive
Provides a $2,500 tax credit for each certified net new job created, 4% sales/use tax rebate on capital expenditures or income and franchise tax credits up to 1.5% of investment. Read more
--------------------------------------------------------------------------------
STEDF PUBLICATIONS & RESOURCES
--------------------------------------------------------------------------------
St. Tammany Parish Quarterly Economic Trends Report
The St. Tammany Parish Economic Trends Report is a presentation of quarterly economic data accompanied by a brief discussion of data... Read more
St. Tammany Parish Economic Growth Index
The St. Tammany Parish Economic Growth Index is a measure of economic expansion comparing changes in five economic components over time. Read more
St. Tammany Parish Ten-Year Economic Summary
The St. Tammany Parish Ten-Year Economic Summary provides a comprehensive long-term look at changes in the parish's economic trends. Read more
Available Resources
STEDF has partnered with various organizations to offer a varitey of services to assist the business community. Read more
STEDF | DEMOGRAPHICS | INCENTIVES | FINANCING | ABOUT STEDF | WHY ST. TAMMANY
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News for Folsom Abita Springs and Madisonville, LA - Wednesday November 18th, 2009 12:49pm
THE WALL STREET JOURNAL.
WSJ
NOVEMBER 18,2009, 1121 A.M. ET
Housing Starts Unexpectedly Fall
By JEFF BA TEA
WASHINGTON - Home construction fell sharply in October, an unexpected drop that erased months of gains as uncertainty over renewal of a tax
credit for home buyers increased builders' caution.
Meanwhile, U.S. consumer prices continued to rise at a moderate pace in October, indicating that a slow economic recovery is keeping inflation
contained.
Housing starts decreased 10.6% to a seasonally adjusted 529,000 annual rate compared to the prior month, the Commerce Department said
Wednesday.
The report also said building permits slipped. Both single-family groundbreaking.s and apartment construction tumbled.
Economists surveyed by DowJones Newswires forecast a 1.7%increase in October housing starts, to an annual rate of 600,000. The 10.6% fall carrie.
construction to the lowest point in six months.
The surprise decline came as an $8,000 tax credit for first-time buyers approached a Nov. 30 expiration. This month, Congress approved the relief
through April, ending months of speculation whether the incentive would be extended.
The housing sector is struggling out of the long slump that followed its big boom earlier in the decade. Year over year, housing starts in the U.S. last
month were 30.7% lower than the pace of construction in October 2008. September groundbreaking.s rose by 1.9%to 592,000, adjusted from an
originally reported 0.5% increase to 593,000.
The big fall in October starts marks a setback in the housing sector's recovery. New-home sales hit bottom in January but are up 22% since, the latest
government data show. Buyers surfaced amid an improving economy and a big government tax incentive. With the sales increase, inventories of unso
homes have gone down, leading some builders to resume construction.
As sales rise, builders have been reporting favorable results. Luxury-home developer Toll Brothers lnc.'s said last week that inked contracts for its fisc
fourth quarter rose 42% from a year earlier. The U.S. stock market is way up since March, restoring some wealth to those who might want to buy a
more expensive house.
Nevertheless, Wednesday's data said building permits in October fell 4.0% to a 552,000 annual rate. Economists had expected permits to rise by 0.99
to a rate of 580,000. September permits decreased 0.9% to 575,000. Building permits are a sign of future construction.
Single-family housing starts in October compared to the prior month dropped 6.8% to 476,000.
Apartment construction -- housing with two or more units -- fell 34.6% to 53,000. Within that multi-family category, groundbreakings of homes with
five or more units were 33.3% lower.
Regionally, housing starts fell 9.6% in the South, 18.8%in the Northeast, 10.6% in the Midwest, and 8.5% in the West.
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