Category: Retirement Real Estate
June 15, 2007 -- Could more bad news possibly hit the real estate market that so many active adults are studying? A quote in today's Wall Street Journal regarding homeowners who are entering the foreclosure process is typical of recent fare - "rates for the last 2 quarters are the highest in the (Mortage Bankers Association) survey's 37 year history." Other bad news items in the last few days are that the number of homes for sale keeps growing (up 5% in May), and pending sales were also down in April.
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Published on June 15, 2007
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Category: Retirement Real Estate
The April figures for sales of existing homes are in, and the news isn't so great for sellers. April sales were down 2.6%, following a March drop of 7.9% from February. According to figures from the National Association of Realtors, April sales declined 10.7% from the year ago period.
While figures on sales of active adult and retirement community homes and condominiums are hard to come by, it stands to reason that the overall market weakness is also having a negative affect on this segment. But for baby boomers considering purchasing a new home, the news is probably positive. Continued pressure on sellers and greater inventories should mean price flexibility and better selection. Is the time to buy nearing?
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Published on May 29, 2007
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Category: Retirement Real Estate
May 19, 2007 -- For baby boomers trying to figure out whether this is the time to buy into a retirement community, the recent news is balanced. There is some good news, bad news, and neutral news. On the whole it seems like this is still a buyers' market, although no one can predict if the bottom has been reached.
On the economic side:
Good news: New unemployment claims are down for the 5th straight week (Labor Department)
Not quite so good: Consumer prices and leading economic indicators from the Conference Board's April figures are down slightly
Reassuring: Federal Reserve Chairman Ben Bernanke commented on the sub-prime mortgage problem that he "does not expect significant spillovers (from it) to the rest of the economy". He was cautioning Congress not to pass legislation toughening lending laws
Disappointing: Housing starts fell to their lowest levels in 17 years, according to the New York Times
Positive: New home construction rose in April
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Published on May 18, 2007
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Category: Retirement Real Estate
April 25 - Yesterday the sales figures for existing homes were released - and the news continues to be bad for sellers. Sales in March were 8.4% below February's, and 11.3% behind the March 2006 figure. Bad weather is being blamed for at least part of the slowdown, while sub-prime mortgage problems are another likely cause. These sales totals are for all types of existing homes, including condominiums. The figures were released by the National Association of Realtors.
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Published on April 25, 2007
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