Commercial Real Estate Market Condition
Alexander Goldfarb, an analyst at Sandler O’Neill & Partners LP, talks with Bloomberg’s Lori Rothman about the outlook for the commercial real estate market. Goldfarb also discusses real-estate investment trusts (REIT) and the outlook for Vornado Realty Trust.
San Diego income property
Cash For Homes Cost Govt. $43k per Home!
Did you know the real cost for the government’s cash for clunkers was $24k per car? Well, for similar reasons, the current government cash for homes is really costing $43,000 per home!
Economist Ted Gayer argues the tax credit is poorly targeted, since approximately 1.9 million buyers are expected to receive the credit, but more than 85 percent of these would have bought a home without the credit. This suggests a price tax of about $15 billion – which is twice what Congress intended – for approximately 350,000 additional home sales. “At $43,000 per new home sale, this is a very expensive subsidy,” he said. Read more 
San Diego Condominium Sale Prices Drop
San Diego attached (condos) home sales for September 2009 vs September 2008. The data is for the median prices as published by the San Diego Association of Realtors. The selection of San Diego neighborhoods and production of the graph was by www.websitetrafficbuilders.com.
San Diego condominiums
San Jose real estate
September New Home Sales Fall
new home sales
The Commerce Department reported today sales fell 3.6 percent (the report reflects contracts to buy homes, not completed sales) to a seasonally adjusted annual rate of 402,000.
Here in the West the sales drop was almost 11 percent.
This is the first decline in new home sales since March. New home sales in September were off 7.8 percent from a year ago. Even with this decline, new home sales are up 22 percent from January, though down more than 70 percent from the peak in July 2005.
San Francisco real estate
San Diego September Home Sales
San Diego detached home sales for September 2009 vs September 2008. The data is for the median prices as published by the San Diego Association of Realtors. The selection of San Diego neighborhoods and production of the graph was by www.websitetrafficbuilders.com.
San Diego home sales
San Diego home sales
San Diego Home Prices – Case-Shiller Home Price Index
San Diego home prices
The good housing news was that according to the Case-Shiller home price index released today by Standard & Poor’s, U.S. homes in 20 major cities rose by 1.2% in August compared with July, the fourth monthly increase in a row. For August, prices rose in 17 of 20 cities. Only Charlotte, Cleveland and Las Vegas recorded month-to-month declines.
The bad housing news part of this report was that in the past year, prices are down 11.3% in the 20 cities. Prices in all 20 cities were lower in August 2009 than in August 2008. Read more