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Over, Under, At - SF Home Sales: January 12 - 18, 2008
2008-01-24 21:49:21
Welcome back to the “Over, Under, At”¯ weekly feature. It’s a simple breakdown taken from MLS data that shows the number of closed sales that sold Over Asking Price, Under Asking Price or At Asking Price.
*Just a reminder that new construction sales are rarely included in this list since they don’t get posted on the MLS.
So last week, the state of the market looked bleak and sad. 29 homes sold in total. But it wasn’t a surprise since Decembers typically are quite slow. And this December was slower than it has been in several years. However, things have picked up. This week we’ve got 63 home sales. However, A LOT of sales sold UNDER asking! What does that mean? It means a lot of savvy buyers got some super sweet deals on some homes. They were out there at the right time and they got their homes at the right price. If you’re out there right now and thinking about buying a home, take a look at the signals that the market is looking A- ...
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The Fed
2008-01-22 02:31:39
– Fed lowers fed funds rate by three-quarters of percentage point.
Log on to http://money.cnn.com/bn for the latest news.
Yikes! Think they’ll do any more next week? The fact that they didn’t feel they could wait 7 days is a bit “scary.”
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Toronto’s Hot Spot
2008-01-22 02:11:30
The Toronto Real Estate Board’s market watch publication reports that the E01 real estate district is up 75 per cent in transactions last month compared to December 2006.
The Toronto Real Estate Boatd district E01 is bounded by Danforth Avenue to the north, Lake Ontario to the south, the Don Valley Parkway to the west and Coxwell Avenue to the east. “In Beaches-Riverdale, there were 63 home sales in December 2007 versus 36 in December 2006 so that’s a 75 per cent increase,” said Maureen O’Neill, board president.
This figure was primarily fuelled by the sale of semi-detached homes, which are abundant in south Riverdale and Leslieville. “Semi sales are up by 58 per cent from December 2006 to December 2007 and attached row houses more than doubled in sales,” she said.
Without a doubt, the primary reason for the explosive number of transactions in the area is due to the City of Toronto’s new land transfer tax, which comes into effect Februar ...
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Green Real Estate
2008-01-22 00:06:32
Looking for environmentally-friendly homes? What is a Green Home? These days, you don’t have to have a house sunk deep into the ground or one made from recycled tires for it to be considered ‘green.? Just some sensible touches can often make a big difference. Like using sustainable materials like bamboo or cork flooring. Or low VOC […]
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Fizber.com to Partner with Movers.com
2008-01-21 23:24:57
Real estate website Fizber.com now offers a full line of real estate services covering the complete “homeownership life cycle,” from buying and selling to packing and moving
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How Do You Find a Good School?
2008-01-21 23:13:36
Fizber.com has introduced a new Schools Search service that lets parents search for U.S. schools by city and state or zip code.
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“114 Pounds of Absolute Perserverance”¯
2008-01-21 22:35:48
What do you make of this: The New York Times reports today that a San Diego couple, the Ummels, is suing their real estate agent for allegedly failing to protect them from overpaying for a $1.2 million Carlsbad home in August 2005.
The lead plaintiff is a 60-year-old university fundraiser who describes herself as “114 pounds of absolute perseverance.”¯ She spent the past year picketing the agent’s office. With shoot-from-the-hip media-savvy, her former agent says “the lady’s a nut job.”
And of course, the suit is just the kind that drives conservatives nuts, too. Why can’t people take responsibility for their decisions?
But wait. The only problem with blaming the buyers for overpaying is that the rationale for traditional buyer agents’ fees has been to protect buyers from overpaying. As the Times observes, the Ummels’ lawsuit is new in part because the buyer agent is fairly new, too — in the last downturn, agents represented ...
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Suicide by SEO
2008-01-21 21:52:32
With some likening the MLS to a public utility and other clamouring to set the listings free, a lesson may be learned from the Yellow Pages new deal with Google.
Yellow Pages contemplating suicide by SEO
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Tomorrow’s Going to Be Ugly on Wall Street - Any Bets?
2008-01-21 18:12:53
So much for containment and things getting better. We’re starting to see how contained this debt issue really is - and the answer is not at all.
I don’t know if you’re as fascinated at the global falling dominoes that are the world’s financial markets as I am; but you should be as it usually portends bad things. Just tonight we’ve seen the major indexes in Hong Kong lose over 10% of it’s value, India lost 11%+ and all trading was halted, the Nikkei lost 4.4%, Taiwan 6.5%. To boot the latest Dow futures market portends a loss of somewhere in the 400 - 500 point range.
So we know it’s going to be ugly and violent. Investors are spurning earnings reports and balance sheets and ratings agencies. It is nearly a complete lack of confidence in the US financial system. Investors simply cannot be sure which way is up and that is causing these major, major drops.
I’m taking bets on the market tomorrow. I’ll paypal the winner $5 to the ...
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Downtown Columbus Loft For Rent
2008-01-21 10:18:33
Sixty Spring #107 - $845/month - 598 Sq Ft - 1BR, 1 Bath - Garage Parking!
Contact Me for a Showing
See All Available Units
Industrial & Modern Living in Central Downtown
Granite Counters
Concrete & Tile Floors
Stainless Steel Appliances
Washer & Dryer Included
Pets OK
Superb Central Downtown Location
Concierge Service
Gas, Internet and Cable Included in Rent
Rooftop Deck
Secure Garage Parking
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Worst celebrity neighbors of 2007?? and a few of the best
2008-01-21 03:34:05
Ever wonder what it would be like to have a famous neighbor? Harris Interactive® recently conducted a survey on behalf of Zillow to find out who you thought were the worst neighbors of 2007, and who would be the best neighbor in the coming year. With the whirlwind year Brittney Spears had it’s no wonder 21% […]
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A Look at the Top Searches of 2007
2008-01-21 02:00:53
OK, so we all know what people are really searching for most of the time. But if you filter out the perennial favorites (most of which are NSFW), then you can have a look at the most popular, up-and-coming search terms of 2007. In case you missed these earlier, here are the lists of top […]
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Foreign Aid for Toronto
2008-01-20 04:39:21
Why hasn’t Toronto’s housing market tanked like London’s or New York’s? Just take a look at who’s buying.
Watching the global real estate market from Toronto these days can make you feel a little like Nero with his fiddle. As the sub-prime meltdown spreads from city to city, expensive condos from London to New York now sit on the market for months at a time.
Meanwhile, Toronto assumes the mantle of condo capital of North America. We are the only major English-speaking city in our hemisphere to have plowed right through the 2007 crisis without so much as a blip. Everybody’s wondering why we’re weathering the storm so well (and just how long that will last). Sherry Cooper, the renowned BMO economics guru, says we shouldn’t look to our local population for the explanation. “The number of units sold,” she says, “particularly at the affluent level, is growing by far more than the number of high-end domestic households.&rdquo ...
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Understanding Wall Street (Mortgage) Losses
2008-01-19 19:29:33
Understanding Wall Street (Mortgage) Losses
We’ve all been reading about the massive losses at most all the major Wall Street investment banks and commercial banks, but let’s understand how most of these losses are generated.
Merrill Lynch has written off around $22.4 billion in mortgage related losses (so far). Anyone who has dealt with Merrill Lynch’s mortgage division, Merrill Lynch Credit Corporation (”MLCC”¯) understands that MLCC was one of the most conservative mortgage lenders on Main Street. MLCC was a joint venture between Merrill Lynch and PHH Mortgage, another lender I’ve always respected. The only loans they originated were full doc, high FICO, low LTV, high asset borrowers.
The Merrill mortgage bankers were the something that we could all strive for in our professional lives. I had lunch with Larry Washington, the President of MLCC who told me that one of the reasons MLCC was so conservative was that “you’ll never get h ...
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