Monday, January 25, 2010

Fewer Defaults: Could the Worst Be Over?

The number of consumer loans that are going bad is leveling off, reports Bank of America, Wells Fargo and other large banks, signaling that the worst could be over.

Bankers reported that credit quality is stabilizing with lending losses expected to peak this year.

But analysts warned that any new hit to the economy could reverse the trend with all aspects of the recovery dependent on an improving employment picture.

“In the second half of the year, it will be more and more important for the overall economy to improve at a faster clip,” says Anthony Polini, a banking analyst at Raymond James.

Friday, January 8, 2010

A look at what happening in the Denver 2009 real estate market

The Denver home market last year was a little bit like being the valedictorian of your class - a remedial class, that is.

Most metrics for the housing market in 2009 when compared to 2008 – from the number of homes sold, prices and dollar volume – were underwhelming, shows a report released today.

Still, Denver is a shining star compared to much of the nation, although the housing bar is pretty low elsewhere.

Indeed, he said “if there is anything sunny about 2009, which was a very challenging year, not only in Denver but all across the country, it all took place in the last quarter. We know what drove the lower-end home activity – it was people trying to get under the wire and close homes in case the tax credits went away. But in November we also started to see some improvements in the $1 million market for the first time in 20 months. We will be watching the first quarter very carefully to see if this trend continues into 2010.”

Thursday, January 7, 2010

top five sources of information for buyers were: Internet (90%), real estate agent (87%), yard signs (59%), open houses (46%) and newspaper advertisin

Lots of Useful Information Contained in 2009 Survey of Home Buyers and Homes Sellers - According to the National Association of Realtors® 2009 Profile of Home Buyers and Sellers, the top five sources of information for buyers were: Internet (90%), real estate agent (87%), yard signs (59%), open houses (46%) and newspaper advertising (40%). When asked which information sources were very useful, the top three were real estate agent (81%), Internet (77%) and yard signs (42%). 36% of buyers found the home that they ultimately purchased on the Internet; another 36% learned of that home from a real estate agent. The methods that actually work – that bring the right home in front of buyers – are among the least expensive: the Internet, working with an agent (who learns about properties through the MLS), and signs. 84% of buyers learned about their home through one of these sources. Conversely, some of the most expensive methods – newspapers, home books and magazines, and television – are among the least effective. Only 4% of buyers found their homes via these media. See the full article for more stats:

Tuesday, January 5, 2010

Redevelopments along Broadway, Denver

Lumberyards mixed-use project set to rise along South Broadway - Real estate investor Jon Cook has spent the past 40 years assembling property along South Broadway, and now he is getting ready to start an ambitious redevelopment plan. Plans for the mixed-use project include housing, office, retail and restaurant space. The project, known as The Lumberyards, would be located on several blocks west of South Broadway and West Jewell Avenue. The first eight-story building is being planned and designed. It will include an upscale restaurant at street level and residences above. Cook's properties fall in the district covered by the Evans Station Area Plan, aimed at creating a vibrant, urban neighborhood. The plan calls for redeveloping underutilized industrial areas into mixed-use transit-oriented urban centers such as the one Cook is planning.