Lake Tahoe and Truckee Real Estate - Sierra-Tahoe Realty, Scott Kennedy » Market Reports

JPMorgan’s Frank Bisignano Calls a Bottom in Housing

Scott Kennedy — Fri, 17 Feb 2012 15:59:25 +0000

CNBC’s Mary Thompson interviews Frank Bisignano, JP Morgan’s Chief Administrative Officer. Mr. Bisignano was hired by CEO Jamie Dimon to fix JP Morgan’s mortgage business.

To view the interview click ‘>’ below:

For a link to the story click here.

CNBC: Truckee / Lake Tahoe Real Estate on the Rise!

Scott Kennedy — Fri, 06 Jan 2012 02:06:17 +0000

A CNBC segment with Jane Wells - ski areas in the Truckee / Lake Tahoe real estate market coming back – to view the video click here.

U.S. Home Prices Set to Climb, Donovan Says

Scott Kennedy — Mon, 04 Jul 2011 23:12:05 +0000

Housing and Urban Development Secretary Shaun Donovan was interviewed on CNN yesterday and said: “It’s very unlikely that we will see a significant further decline. The real question is when will we start to see sustainable increases. Some think it will be as early as the end of this summer or this fall.”

To read the complete news article click here.

Forbes Magazine Article – Real Estate: It’s Time to Buy Again.

Scott Kennedy — Thu, 14 Apr 2011 00:38:10 +0000

“Forget stocks. Don’t bet on gold. After four years of plunging home prices, the most attractive asset class in America is housing.”

To view the March 28, 2011 Forbes Magazine article click here.

Market for Vacation Homes on the Rise

Scott Kennedy — Tue, 11 Jan 2011 15:25:37 +0000

Vacation communities across the United States are showing big signs of a rebounding real estate market, reporting soaring sales at levels that have not been been seen since the days of the housing boom, The Wall Street Journal reports.

The increase has been driven by deep discounts and cash purchases, analysts say.

“We haven’t felt energy like this in a long time. Buyers sense that they’ve been on the sidelines long enough,” says Ned Monell, a real estate professional with Sotheby’s International Realty in Palm Beach, Fla. Palm Beach posted a nearly 40 percent annual increase and a 54 percent increase in homes under contract.

The following is a sampling of vacation-home communities that saw an increase last year (percentage is the increase in home sales from 2009 to 2010):

- Barnstable County, Cape Cod, Mass.: 9 percent
- Hilton Head, S.C.: 13.6 percent
- Mercer Island, Wash. (waterfront): 181.8 percent
- Palm Beach, Fla.: 39.3 percent

An update on vacation-home real estate property rebounding in the Truckee / Lake Tahoe communities will be posted soon.

Source: “Market for Vacation Homes Is On the Rise,” The Wall Street Journal (Jan. 10, 2011)

10 Best Places for Condo Deals

Scott Kennedy — Thu, 06 Aug 2009 03:26:56 +0000

Daily Real Estate News | August 5, 2009 |

10 Best Places for Condo Deals
Thanks to a huge inventory, many condominiums are bargains these days.

Forbes magazine took a look at the nationwide condo market to determine where the best deals could be found. Because financing can be hard to get, prices on luxury models have fallen the most.

The magazine suggested that the best deals come from paying cash or at least putting down enough cash so the property can be purchased with a federally-backed loan.

It also suggested that buyers bid low. Since these properties are moving so slowly, even a lowball offer might be accepted.

Here are the top 10 best places for condominium deals and their ZIP codes, as determined by Forbes:

1. Olympic Village (Squaw Valley), Calif., 96146
2. Tahoe City, Calif., 96145
3. Terra Linda, Calif., 94903
4. Fisher Island, Fla., 33109
5. Dallas, 75205
6. Malibu, Calif., 90265
7. Bal Harbour Fla., 33154
8. Key Biscayne, Fla., 33149
9. Lake Forest, Ill., 60045
10. New York (Upper West Side), 10069

Source: Forbes, Matthew Woolsey (07/29/2009)