Author: Gary

And So It Begins

U.S. Home Prices Fell by Record in Second Quarter – Bloomberg Home prices in the U.S. fell by a record in the second quarter as sales dropped and mortgage lenders made it tougher to get a loan. Home prices down 3.2% nationally in past year – Marketwatch U.S. home prices fell 3.2% in the second quarter compared with a year earlier, Standard & Poor’s reported Tuesday. It’s the largest decline ever in the 20-year history of the Case-Shiller home price index. Meanwhile, prices fell 3.5% in the past year in 20 major cities and 4.1% in 10 major cities. Prices fell in 15 of the 20 cities, with prices down 11% in Detroit. House prices suffer worst fall since 1987 – Reuters (Yahoo) House prices suffered their worst decline since at least 1987 in the second quarter from a year earlier as the housing downturn has deepened, according to the S&P/Case-Shiller U.S. National Home Price Index. The national index, which dates from 1987, fell 3.2 percent to 183.89 last quarter from 189.93 in the same period in 2006, S&P said in a statement. “The pullback in the U.S. residential real estate market is showing no signs of slowing down,” Robert Shiller, chief economist at MacroMarkets LLC, said in the statement. Home Prices: Steepest Drop in 20 Years – AP (Yahoo) The decline in home prices around the nation shows...

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The Top Ten Foreclosing Banks

Courtesy of State Senator Jeff Klein, 34th district. Linked from a commenter on New Jersey Real Estate Report. Here are the top 10 foreclosing banks for the last 13 months and the number of foreclosure filings they have made in NYC, Westchester and Nassau. Please note that this list only reflects the final bank to own a foreclosed loan, which is not necessarily the bank that originated the loan. Deutsche Bank 2299 Wells Fargo 1791 .U.S. Bank, N.A. 1711 HSBC 989 JP Morgan Chase 838 Bank of New York 807 Washington Mutual, Inc. 673 Fremont Investment & Loan 622 Citigroup 582 Countywide 520 For more information, check out my new REO...

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MLS Report – August 7th 2007

Entering the dog days of August, we can see that there’s been at least some motion in the Long Island real estate market. A few houses here and there have disappeared off the MLS, including more than a couple that I’ve been keeping my eye on. Of course, except for the ones I’ve actually driven by and seen a “SOLD” sign on, I have no way to know how many of the homes have actually sold and how many have just been pulled off the market by frustrated owners unable to get their price. I’ll be keeping my eye on Zillow for the updated info. Still, you have to figure that people would start buying eventually. Summer is slipping away quickly and if you want to be in a house before the kids start school, sooner or later you have to suck it up and pull the trigger, even if the price isn’t quite right. As for me, I’m still keeping my powder dry. I’ve been watching the market pretty intently for the past ten months or so and, with a couple of notable exceptions, I haven’t seen anything that really tempted me to jump in and buy. Everything is still priced too high, even the bad properties. Homes in Babylon Total: 104 Babylon School District: 54 BSD and Under 600K: 33 Condos/Coops:5 Technorati tags:...

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The Origin Of Babylon

From Newsday And Conover picked up a story: When Conklin built his house, there was a tavern nearby, but his mother objected, saying it was sinful. She went to her Bible, and picked a name she thought reflected its decadent state, and somehow it stuck. She called it “Babylon,” and Conklin told her no – it was the new...

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Whalers Cove

I am very tempted by the idea of living in a condo instead of a single family home. The prospect of not being responsible for yard work, lawn mowing and exterior maintenance is pretty appealing. Whaler’s Cove is a complex that’s right in my neighborhood. The prices are solidly in my range and there are some for sale. ML# 1956941 – $339,000 ML #1923130 – $347,000 ML #1983414 – $360,000 – Unit 17 ML #1961359 – $369,000 ML #1970446 – $369,000 – Unit 4 ML# 1984365 – $369,000 Six for sale? There aren’t all that many unit in this complex to begin with. I have to wonder what’s up here. Still, I do hope to have a look at one or more of them soon. There are some open houses this...

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