Blogging Broker

Very interesting.
The Big Picture » Blog Archive » Your Own Private Hydrogen Power Station.

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Imagine 15 Empire State Buildings, all of them sitting empty. That real estate broker’s nightmare comes to more than 43 million sq. ft., which is how much commercial space stood vacant in Silicon Valley as of the end of the third quarter, according to CB Richard Ellis Group (CBG)
Read the entire article HERE

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There are 920 football fields of available office space in Manhattan. More than 180 major buildings totaling $12.5 billion in value — from Columbus Tower at 1775 Broadway to the office tower 400 Madison Avenue — are in trouble, meaning in many cases they face foreclosure or bankruptcy, or have had problems making mortgage payments. [...]

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Well, fecal coli in drywall can’t be good.  They will be YEARS dealing with this crap. (no pun intended)
Chinese Drywall Has Left Tens of Thousands of Homeowners Out of Options.

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According to Treasury Department figures, nearly 700,000 trial modifications under Making Home Affordable were underway by the end of November. But with fewer than 32,000 converted to permanent modifications, it means a net drop of permanent loan modifications since the Obama plan began.
Servicers, White House Point Fingers as Foreclosure Plan Fails « The Washington Independent.
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HUD has issued a mortgagee letter to lenders and underwriters explaining that effective immediately, borrowers in default on their mortgage at the time of a short sale or pre-foreclosure sale will not be eligible for a new Federal Housing Administration (FHA) -insured mortgage for three years.
Distressed Short Sellers Locked our of FHA Loans
Read the [...]

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“But while the 2010 outlook appears inviting, there’s one key catch. “You need to have a stable job,” says Mark Zandi, the chief economist of Moody’s Economy.com.”
Ya think?
Read the entire article here:
10 Things to Know About Real Estate in 2010 – Yahoo! News.

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What I find interesting is that even where home sales have increased the most  prices are DOWN significantly:
“Biggest sales gain: Sales in Boise more than doubled from a year ago. But the metro’s median home price declined versus a year ago by almost 19 percent to $137,990.”
Read more: CLICK HERE

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The housing market in Fresno is still fraught with foreclosures, posting the nation’s 15th-highest rate in the third quarter, according to RealtyTrac.com.
That means the market there is saturated with available homes, right? Not quite.
read the entire article here

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Sometimes a picture doesnt say a thousand words.

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