Greenspan Unconcerned About Housing

"It looks as though the worst is behind us" in terms of the effect of the housing slump on economic growth, he told financial advisers at a conference in Washington organized by Schwab Institutional, a division of Charles Schwab & Co.

Click here for the full story - washingtonpost.com

Housing: Too Much Cash Waiting for Investment for the Market to Fall Sharply

Andrew Mickey submits: Many headlines and cable news programs are touting a pending real estate bubble. Sure this helps increase their ratings, but there are too many factors in favor of real estate to worry about the naysayers.

Click here for the full story - seekingaplha.com

100 cities ranked. Despite a slowdown, some values are still out of whack. Plus: where the bargains are.

By Les Christie, CNNMoney.com staff writer July 26 2006: 5:25 PM EDT NEW YORK (CNNMoney.com) -- After years of local home markets getting more and more overvalued, the trend has reversed, according to an analyis published this week.

Each quarter, Local Market Monitor, which provides research to the real estate industry, assesses 100 markets, comparing selling prices to "equilibrium" values. Company president Ingo Winzer bases those values on local economic and population growth, construction costs, vacancy rates, household income in the area and interest rates.

The number of overpriced markets in the first quarter, defined as having a median home price more than 15 percent higher than equilibrium, fell by two to 38. In the prior quarter, the number of overvalued markets had climbed to 40 from 37.

Click here for full Story - CNNMoney.com

New game takes shape as housing market cools, opening doors for buyers

The opportunity to become a homeowner in Las Vegas has widened greatly, observers say, as investors bail out of a cooling market, leaving inventory at a record high and forcing sellers to lower prices by as much as $50,000 in some neighborhoods.
It's a new game in a changing market, and old rules no longer apply, said Jason Braford, district director for ZIP Realty in Las Vegas.
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Homes are staying on the market longer. In May, 43.1 percent of homes sold within 30 days, compared with 48.4 percent in the same month a year ago, the Greater Las Vegas Association of Realtors reported. Meanwhile, the median price increased only 3.3 percent to $310,000.

Some sellers probably are wondering whether to cut their price now or hold out for more. Some prospective buyers might be wondering whether they should take the plunge or continue to rent. They might be asking themselves, "Is it time to go for a bigger house or a smaller one?"
Don't try to predict the market, Braford said. If you're looking for a home to live in for at least five years, short-term fluctuations are not important, he said.

Click here for full Story - reviewjournal.com

Commercial Real Estate Continues Uptrend

Economy is pulling commercial real estate along with it, says Lereah.

The expanding economy is pulling commercial real estate along with it, creating strong demand for space. At the same time, institutional investors are returning to the market, according to a commercial market update and forecast presented here at the National Association of Realtors® Midyear Legislative Meetings & Trade Expo.

Click here for full story - RISMEDIA

Why The Housing Bubble Won't Burst

Veteran analyst Michael Youngblood explains his unusually optimistic take on the real estate market.

Type the words "falling housing prices" into Google and more than 8 million citations pop up. Michael Youngblood's name won't be among them...

Click here for Full Story - businessweek.com

Luxury condo projects are falling by wayside

Unlike the Kevin Costner film, "Field of Dreams," if you build a luxury high-rise condominium, the buyers don't necessarily come. Demand for posh vertical living has softened somewhat during the past six months. It has resulted in several valley-wide project cancellations...

Click here for Full Story - lvbusinesspress.com

Spring home buying season -- old rules, new tools

Here's how to put yourself in the best position as you start eyeing homes.

It's that time of year again: After the long, cold winter, when shopping for new homes grinds nearly to a halt, the warm weather brings people out and into real estate offices.

But this year, shoppers face a changed environment...

Full Story - CNNMoney.com

2005 Was a Very Good Year for Home Owners

(March 2, 2006) -- Home prices rose an average of 13 percent last year, according to a report released by the Office of Federal Housing Enterprise Oversight, the agency that manages mortgage giants Fannie Mae and Freddie Mac.The report pointed out that home prices grew far more rapidly last year than the prices of other goods and services included in the Consumer Price Index (12.95 percent vs. 4.3 percent, respectively).

Full Story - Realtor Magazine Online

LV home prices stabilizing

The Las Vegas housing market has cooled from its feverish pace over the last couple of years and most experts agree that's a good thing.
Houses that were selling at 10 percent above asking price a year ago are now being reduced and are staying on the market for nearly two months.
The median price of a new home in Las Vegas dropped to $303,751 in January from $309,900 in December, Dennis Smith of Home Builders Research reported. The price is up 7.5 percent, or $21,203, from the same month a year ago.
Excluding 795 apartment conversions, which accounted for 27.8 percent of the 2,862 recorded new home sales in January, the median price was $343,198, an 11.6 percent increase from a year ago.
See Full Story...Las Vegas Review Journal

Southern Nevada Continues to Grow

NEVADA -- Boosted by strong construction and employment numbers, Southern Nevada's leading economic indicators suggest continued expansion and prosperity into early 2007, a local economist said.

Full Story - CasinoCityTimes.com