Real Estate Information

From the DSNEWS.com

Article by: Carrie Bay on 10/12/2010

Economists Say Home Prices Have Already Hit Bottom

Home prices in the United States found their floor during the early part of 2010 and are expected to begin trending upward next year, according to a panel of elite economists surveyed by the National Association for Business Economics (NABE) for its October 2010 Outlook.

“The housing recovery is intact, but tepid overall. Home prices have hit bottom,” NABE stated in its report outlining the survey results.

The panel anticipated a 1.5 percent drop in residential home values this year, and that decline has already been registered through the first half of 2010, NABE explained.

The group of economists is projecting gains in home prices of 1.2 percent over the course of 2011, but they warn that the modest increase will not keep up with the broader measures of inflation.

NABE panelists expect any evidence of price weakness post-tax incentive to be temporary. Their assessments of the importance of the government’s recent stimulus measures in the form of tax breaks for homebuyers vary widely. Nearly one-third feel that a persistent relapse will follow the incentives’ expiration, while the remaining two-thirds believe an underlying recovery is in place.

When it comes to the distressed side of the business, it’s become clear that the nation’s high level of unemployment is now one of the primary triggers of default among struggling homeowners. Getting more people back to work is key to a recovery in housing and getting a handle on still-rising delinquency numbers. But NABE’s panel warns that labor market conditions will be slow to improve.

The economists are forecasting monthly payroll gains to average 150,000 or less until the latter half of 2011, at which time gains will improve to a range of 170,000 to 175,000. The unemployment rate is expected to persist at over 9.5 percent through midyear 2011, before easing only slightly to 9.2 percent by the end of next year.

“This will mark the worst post-recession job recovery on record,” NABE said.

NABE panelists trimmed their projections on overall economic growth. Those projections now remain sub-par through year-end, the organization explained.

“This summer’s slowdown has exposed the economy’s sensitivity to wealth losses, the unwinding of debt, and the reductions in economic stimulus,” said Richard Wobbekind, NABE president-elect and associate dean of the Leeds School of Business at the University of Colorado-Boulder. “Confidence in the expansion’s durability is intact, but recent economic weakness has prompted many panelists to scale back expectations for the year ahead.”

The October 2010 NABE Outlook presents the consensus of macroeconomic forecasts from a panel of 46 professional analysts. The group included economists from such firms as Moody’s Analytics, the PMI Group, Fannie Mae, and Goldman Sachs.

 Wow! I just returned to work from the Five Star Conference in Dallas, Texas. It was packed with great information about foreclosure properties. I heard some great speakers. Dave Liniger, the founder and owner of RE/MAX, gave us some information about the coming wave of new foreclosure listings that will be on the market in the next few months. He explained that when the sub prime mortgages adjust to principal and interest loans, the payments will drive many to foreclosure. The payments will go from a $700 payment to a $1,200 payment and many will lose their homes. Dave introduced our keynote lunch speaker Former First Lady, Laura W. Bush. She was a fantastic speaker. Updating us on the Bush family and her life. Laura Bush is a true southern lady. I also heard Joe Theismann and Roger Staubach. Theismann was the best speaker. I was fortunate to be invited to the Fannie Mae Training. It was very informative. Fannie Mae wants their Foreclosure homes to look as good as a regular sale and they are willing to paint, carpet and landscape the REO homes. The weather was beautiful and there were over 5,000 agents attending. I had a great time and am happy to be back home in Murphy NC working to sell these foreclosure homes.

 

Laura W. Bush

Former first lady Laura W. Bush is actively involved in issues of national and global concern with a particular emphasis on education, health care, and human rights. As first lady, she made a historic trip to Afghanistan in 2005 and witnessed firsthand the progress achieved by the Afghan people after the fall of the Taliban regime. A former teacher and librarian, Bush convened a Summit on Early Childhood Cognitive Development in 2001, providing a forum for prominent scholars and educators to share research on the best ways parents and caregivers can prepare children for lifelong learning. As the leader of former President George W. Bush's Helping America's Youth initiative, she has listened closely to the concerns of young people, parents, and community leaders throughout the country. In September 2001, Bush joined the Library of Congress to launch the first National Book Festival, and in 2006, she hosted leaders from around the world for the White House Conference on Advancing Global Literacy. She is also an advocate for women’s health and has been an active participant in campaigns to raise awareness of breast cancer and heart disease. In addition, Bush, a hiking and camping enthusiast and strong supporter of our national parks, has spotlighted the glories and needs of the parks through her many visits as first lady. Bush holds a Bachelor of Science in education from Southern Methodist University and a master’s degree in library science from the University of Texas. She previously taught in public schools in Dallas, Houston, and Austin and worked as a public school librarian. Her memoir, Spoken From the Heart, is a New York Times number-one best seller.
Tuesday, September 21, 2010 || 12:00 PM

   

Roger Staubach

Football Legend and Chairman and CEO/President of the Staubach Company
Heisman Trophy owl winner, Super BMVP, and Pro Football Hall of Famer Roger Staubach played his entire 11 years of professional football with the Dallas Cowboys, leading the team to four Super Bowls and achieving victories in Super Bowls VI and XII. In 1977, he entered the commercial real estate industry, forming the Staubach Company. Over the years, he expanded services to meet clients’ ever-changing requirements and grew his company to 1,600 employees serving 3,000-plus clients from 70 North American offices. In July 2008, the Staubach Company merged with Jones Lang LaSalle, where Staubach now serves as executive chairman, Americas.
Monday, September 20, 2010 || 12:00 PM

 

 

 

Joe Theismann

Football Legend, TV and Radio Host, and NFL Network Analyst

 

Entrepreneur and former Washington Redskins star quarterback Joe Theismann hosts The Joe Theismann Radio Show on ESPN 980 in Washington, D.C. The 12-year NFL veteran also serves as an analyst for Playbook, a show airing on the NFL Network. In April 1988, Theismann joined ESPN after spending two seasons as an NFL analyst for CBS Sports. Touting an illustrious football career that spanned 163 consecutive games from 1974–1985, he holds Redskins’ records for passing yardage (25,206), completions (2,044), and attempts (3,602). A two-time Pro Bowl selection, Theismann led Washington to a 27-17 victory over the Miami Dolphins in Super Bowl XVII.
Monday, September 20, 2010 || 5:15 PM
Alumni Networking Reunion* || 6:00 PM–8:00 PM *For Alumni that registered by June 15 only

 

Chris Wallace

Veteran Journalist and Host of FOX News Sunday
Chris Wallace is the host of FOX News Sunday with Chris Wallace (FNS), FOX Broadcasting Company’s Sunday morning public affairs program. He also contributes to the network’s political and election news coverage. As host of FNS, Wallace has secured interviews with many leading newsmakers, including all the leading contenders for the 2008 Presidential campaign, top national and international figures, and his controversial interview with former President Bill Clinton. During his career, Wallace has won every major award for broadcast journalism, including the Dupont-Columbia Award, three Emmy Awards, the George Foster Peabody award, and the George Polk Award

 

 

 

 

 

 

 

 

Click here to see more information about the conference: http://www.fivestarconference.com/fsc/index.php

Randy Dockery in the NEWS

This was taken from Page 8A in The Cherokee Scout Newspaper

on Wednesday, September 15, 2010

Dockery earns designation

Murphy - Randy Dockery of RE/MAX Mountain Properties has earned the prestigious certified distressed property expert designation, having completed extensive training in foreclosure avoidance and short sales.

Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property, Dockery said. With plummeting property values, this can save many people foreclosure and bankruptcy. More lenders are willing to consider short sales because they are much less costly than foreclosures.

In western North Carolina, more than 30 percent of homes are in danger of foreclosing. It is happening in all price ranges - even high-priced homes are not not immune, Dockery said.

"This CDPE designation has been invalualbe as I work with sellers and lenders on complicated short sales, " Dockery said. "It is so rewarding to be able to help sellers save their homes from foreclosure."

Alex Charfen, founder of the Distressed Property Institute of Boca Raton, FLa., said Realtors such as Dockery with the certified distressed property expert designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. These experts also may better understand market conditions and can help sellers through the emotional experience.