August 2011

Las Vegas-area home prices rose for the first time in nine months in June, according to the widely-watched Standard & Poor’s Case-Shiller Home Price Indices released today.

Las Vegas prices rose 0.1 percent on a non-seasonally adjusted basis, which is the "headline'' basis used by S&P. But they were down 0.4 percent on a seasonally-adjusted basis, S&P said.

The non-seasonal increase compared to a decline of 0.9 percent in May.

Today’s numbers compare to a report by Las Vegas-based SalesTraq that found the median sales price of existing homes and condominiums locally was $105,000 in July, down about 1 percent from $106,000 in June.

The meager non-seasonal gain in June for Las Vegas couldn’t mask the still-depressed state of the Southern

Home Mortgage Interest Rates and Buying Power

With interest rates remaning at historic lows and the Feds promising to keep them there, the illustration below shows clearly how buying power is increased with lower interest rates.

Mahalo For Reading.

30yr 4.375% and 15yr 3.5% w/ NO Origination

It was another volatile week for mortgage rates. The primary factors influencing rates roughly offset each other, though, and mortgage rates ended the week just a little higher.

A wide range of economic news caused investors to either add or reduce risk at a rapid pace this week. News which generally encouraged increased exposure to risky assets helped stocks and hurt mortgage rates early in the week, while the opposite took place later in the week. Mixed US economic data, continued concerns about European debt, a highly anticipated speech from Fed Chief Bernanke, and uncertainty about the impact of Hurricane Irene all contributed to the daily volatility.

In Friday's speech, Fed Chief Bernanke gave no hint of

It's Aloha Friday Again: Missed the Hawaiian Slack Key Guitar Festival

Darn it! So many good festivals! Just a few weeks ago was the ukulele festival and now, although late, I just learned of the slack key guitar festival. Darn, I missed it! Both were free and held at the Kapiolani Park in Waikiki.

According to "Hawaii Magazine Online", "The Ki-hoalu Foundation describes Hawaiian slack key guitar music as “sweet and soulful,” and “drawn from the heart and soul — out through the fingers of each player.”

"Intrigued? If you’re on Oahu this weekend, check out the musical mystique for yourself at the 29th annual Hawaiian Slack Key Guitar Festival “Waikiki Style” is set for Sun., Aug. 21, noon to 6 p.m., in Kapiolani Park."

"The free fest

Dallas Business Journal - by Candace Carlisle

Dallas is ranked second in the nation for residential construction activity behind Houston in the value of privately owned housing constructed last year.

For those projects, Houston posted a collective value of $4.17 billion in 2010, according to data compiled by On Numbers, a feature of American City Business Journals, which is the parent company of the Dallas Business Journal.

Dallas put up $3.87 billion worth of new privately owned housing in 2010, according to the data.

Houston and Dallas beat out New York City, the nation's largest metropolitan area in terms of population, by constructing $3.05 billion of projects in 2010. The figures comprise central cities and their suburbs.

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Buying a Vacation Rental Home on Oahu Hawaii – Part 12

Buying a Vacation Rental Home on Oahu Hawaii – Part 12

Oahu Housing Supply Outlook for July 2011

Contents of the Housing SupplyOutlook Report include:

• PROPERTY TYPE ANALYSIS
• Inventory
• Months Supply
• Home Sales
• Pct. of Original List Price Received
• Median Sales Price
• Days on Market Until Sale

• PRICE RANGE ANALYSIS
• Inventory
• Months Supply
• Home Sales
• Pct. of oroginal List Price Received
• Days on Market Until Sale

View the Oahu Housing Supply Outlook Report for June 2011 Now.

Mahalo For Reading

It's Aloha Friday: Made in Hawaii Festival this Weekend

According to the Pacific Business News online, "The Made in Hawaii Festival, which starts Friday and runs through Sunday, is one of the year’s biggest showcases for products made by local companies."

"This year’s festival at the Neal S. Blaisdell CenterNeal S. Blaisdell CenterLatest from The Business JournalsDisney’s Aulani resort participating in May 18 job fairForfeited items to be auctioned April 30Scoops: Who’s moving, buying, opening, changing, winningFollow this company will have approximately 400 exhibitors and is expected to attract some 35,000 attendees."

"But it’s way more than just a shopper’s haven for the latest Hawaii-made coffee, chocolates, lotions, candles, koa

Washington, DC, August 18, 2011

Existing-home sales declined in July from an upwardly revised June pace but are notably higher than a year ago, according to the National Association of Realtors®. Monthly gains in the Northeast and Midwest were offset by declines in the West and South.

Total existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, fell 3.5 percent to a seasonally adjusted annual rate of 4.67 million in July from 4.84 million in June, but are 21.0 percent above the 3.86 million unit pace in July 2010, which was a cyclical low immediately following the expiration of the home buyer tax credit.

Lawrence Yun, NAR chief economist, said there is a tug and pull on the