Twin Cities’ housing slide continues
Please click onto the COMMENTS for the story.
posted by Bob at Tuesday, July 06, 2010
Custom Search
Tuesday, July 06, 2010
A DEMOCRACY TOWN HALL HOME
Do you have a topic you want to discuss at the Town Hall? Email your request to A_Democracy@yahoo.com
“A DEMOCRACY” Disclaimer- While the administrators and moderators of this forum will attempt to remove or edit any generally objectionable material as quickly as possible, it is impossible to review every message. Therefore you acknowledge that all posts made to this forum express the views and opinions of the author and not the administrators, moderators (except for posts by these people) and hence will not be held liable.
You agree not to post any abusive, obscene, vulgar, slanderous, hateful, threatening, sexually-oriented or any other material that may violate any applicable laws. Doing so may lead to you being immediately and permanently banned
THE ROOF GUYS
Mickey's Diner 1950 7th Street West, St Paul, MN
(651) 698-8387
AX-MAN SURPLUS
1639 University Ave.
St. Paul, MN 55104
Tel:(651)646-8653
LANDLORD.COM LINK HERE
SHHHH! While we listen to words of wisdom from a wise man.
Conscience is the light of the Soul that burns within the chambers of our psychological heart. It is as real as life is. It raises the voice in protest whenever anything is thought of or done contrary to the righteousness. Conscience is a form of truth that has been transferred through our genetic stock in the form of the knowledge of our own acts and feelings as right or wrong. A virtuous and courageous person can alone use the instrument of conscience. He or she can alone hear the inner voice of the soul clearly. In a wicked person this faculty is absent. The sensitive nature of his / her conscience has been destroyed by sin or corruption. Hence he or she is unable to discriminate right from wrong. Those who are leading organizations, business enterprises, institutions and governments should develop this virtue of the ability to use their own conscience. This wisdom of using the clean conscience will enable them to enjoy the freedom.
Dr APJ Kalam, President of India given during the inauguration of the seminar on “THE EFFECTS OF CORRUPTION ON GOOD GOVERNANCE AND HUMAN RIGHTS
Previous Posts
- 15 escape injury after roof collapses in St. Paul
- Code dispute turns ugly
- SINS OF THE STATE
- Gloria Bogen for Ramsey County Judge
- Tom Emmers for Governor
- Leslie Davis for Governor
- Dakota County / Judicial, council choices on ballot
- Obama Health Care, 3.8% sales tax on the sale of a...
- From all of us at A Democracy Town Hall have a hap...
- Minnesota's Fascist PIGS arresting citizens for debt
5 Comments:
July 2, 2010 4:35 PM CDT
Twin Cities’ housing slide continues
by Scott Carlson Staff Writer
The big weekly tumble continues.
Pending home sales in the Twin Cities area are down 44.2 percent compared with the same period a year ago, according to the Minneapolis Area Association of Realtors (MAAR) in its latest market-activity report.
The association said there were 645pending home sales for the week of June 19 following the slight gains seen the prior week to 674 pending sales.
Nevertheless, the latest weekly sales number is “anemic compared to last year at this time, when the market posted 1,156 signed contracts,” the association noted. That marked the sixth consecutive week of year-over-year declines exceeding 30 percent, the trade group noted.
MAAR also noted that new home listings are also down from a year ago, falling 8.4 percent from a year ago to 1,712 for the most recent reporting week.
Any sort of "return to normalcy" is going to take some time, the association said.
“The Twin Cities housing market continues to adjust to a world without a fancy tax credit,” the association said. It was referring to the federal tax incentive program for first time and repeat home buyers that ended April 30.
While the median home price for the Twin Cities metro area rose 6.1percent in May to $175,000, the fifth straight monthly year-over-year increase, pending sales were down nearly 25 percent for the same time period.
Given the recent weekly trend, “June’s (housing) numbers will probably be lower than last year’s.” predicted Aaron Dickinson, a broker associate at Edina Realty. “The big question is how long will it (the sales slump) last? It is hard to know whether or not if this is what we should expect for the rest of the year or if this is a blip on the radar.”
Dickinson said realtors will have a better idea of where the housing industry is headed by the end of the summer, typically the busiest selling season of the year.
Too much code enforcement. Why buy a house to have a target on your back?
This city will not function until the two party systym is abolished !!!!!!!!!!!!!!!!!
I left my comment at Finance and Commerce.
I am certain that the foreclosure crisis has something to do with this. Because most people are upside down on their mortgages (they owe more than the home is worth), now is not a good time to sell. In addition to that, they would have to price their home too low, because they would be competing with homeowners that have agreed to a short sale, rather than let the investor foreclose on their home.
In addition to that, the banks are finally getting it together in terms of the process and turn times for homeowners that have applied for a mortgage modification.
As more mortgages are modified, the amount of listings will go down, as fewer people will have to do a short sale. When we get past the foreclosure crisis, the market will gradually return.
Post a Comment
<< Home