Last Year We Were Talking About The Complete Opposite
A report from the Dallas Morning News in Texas. “It’s still warm outside, but Texas housing market may be getting an autumn cool down. The number of Texas houses where the seller has cut the price is rising faster than the national average, according to Trulia. Dallas, Fort Worth and Houston were among the U.S. home markets that saw the largest increases in the percentage of home price mark downs in the last year, Trulia found. Almost 13 percent of currently Dallas-area home listings have been marked down, compared with about a 10.2 percent share a year ago. The share of homes marked down rose more than two percentage points in Fort Worth and almost three percentage points in Houston.”
“‘Texas markets dominated the list when it comes to the increase in percentage of listings with price reductions,’ Trulia said in the report.”
The Houston Chronicle. “Trying to get a better read on the local housing market? Take a look at how many sellers and landlords are cutting prices for one indication of how this area is struggling. About 15 percent of for-sale listings were marked down in the last year, compared with 12 percent the year earlier, a new report from Trulia shows. Among the residential leasing market, 17 percent of Houston rentals saw price cuts over the past year, compared with 8.5 percent the previous year.”
KIDY San Angelo. “San Angelo home prices are dropping, according to a report by the Texas Association of Realtors. ‘We’re down about 10 percent or so on prices, the median price right now is about $158,000,’ Max Puello, a San Angelo real estate agent, said. Puello says, the market is prime for buyers. ‘Prices are a little bit lower from their peak last year so it is a very good time to buy,’ he said.”
KSWO ABC News 7. “According to a release from the Texas Association of Realtors on Tuesday, the Odessa housing market is in a bit of a slump. But one local realtor says it’s not that bad. ‘We are level,’ said Warren Ivey, Regional VP of the Texas Association of Realtors. ‘It’s not a sellers market. But it’s not a buyers market either.’”
“Compared to this time last year, number of homes sold have decreased by just over 15 percent. The price has also decreased by just over 8 percent and the median home price sits at $165,000. But Ivey he says it’s not the end of the world, especially for a certain type of employee. ‘I’d like to also think that now that the prices are lowering compared to last year, now we might have more teachers be able to afford the housing,’ said Ivey. ‘So you might see some of our teachers before were only renting properties, it gives them an opportunity now for them to take advantage of our housing market so now they can get into some houses.’”
“Ivey admits the local market is low, compared to the state, but says there’s no need to worry, because it was just last year when we were talking about the complete opposite.”
‘Almost 13 percent of currently Dallas-area home listings have been marked down, compared with about a 10.2 percent share a year ago.’
Dallas, TX Real Estate & Homes for Sale
4,889 Homes
http://www.realtor.com/realestateandhomes-search/Dallas_TX
Dallas, TX Price Reduced Homes for Sale
1,702 Homes
http://www.realtor.com/realestateandhomes-search/Dallas_TX/show-price-reduced
Looks more like 30% to me
IS that just seasonal? If they missed the summer sale season, they drop the price?
Price reductions happen all the time, the question is how many homes have had their priced reduced, and comparing year over year is the right way to look at it.
It’s a measure of the disconnect between what sellers think their house is worth, and what buyers are willing to pay. A growing number implies that demand is falling away at current price levels, since sellers more slowing adjust their expectations.
Zillow has this data sliced and diced a number of ways on their Data website (by state, county, city, zip code, etc.).
Looking state level only, year on year, there are 25 states that have rising numbers of price reductions, and 25 that have declining % of price reductions (year on year). Nothing all that remarkable nationally. In other words, there is no overall market trend that is discernable.
But, if you pull out the City by City data, you can see some interesting things:
Only looking at the 50 largest cities,
NYC has had a 26% increase in listings with price reductions year on year.
San Jose has had a 44% increase in listings with price reductions.
SF has had a 58% increase in lisings with price reductions.
Now those increase were off of very low numbers, so NYC is now at 9%, SJ at 12.8%, and SF at 9%.
BUT, the trend is notable, and definitely worth keeping an eye on…especially if you were considering buying in any of those places.
NYC’s and SF’s number is the highest for a September reading since 2011.
Same with SJ (although 9/14 was very close).
With record high housing inventory, record low demand and record high vacancy rates nationally, what did you expect prices to do?
You can’t hide 25 million houses.
1,702 / 4,889 = 35%.
Something about the new Realtor math doesn’t compute.
‘About 15 percent of for-sale listings were marked down in the last year, compared with 12 percent the year earlier, a new report from Trulia shows. Among the residential leasing market, 17 percent of Houston rentals saw price cuts over the past year, compared with 8.5 percent the previous year.’
Houston, TX Real Estate & Homes for Sale
15,154 Homes
http://www.realtor.com/realestateandhomes-search/Houston_TX
Houston, TX Price Reduced Homes for Sale
5,240 Homes
http://www.realtor.com/realestateandhomes-search/Houston_TX/show-price-reduced
5,240 / 15,154 = 35%.
That 35% reduction rate is popular these days in Texas.
Translation: Over one in three homes currently for sale have had price reductions.
Odessa, TX Real Estate & Homes for Sale
887 Homes
http://www.realtor.com/realestateandhomes-search/Odessa_TX
Odessa, TX Price Reduced Homes for Sale
286 Homes
http://www.realtor.com/realestateandhomes-search/Odessa_TX/show-price-reduced
Chosen at random:
3901 Oporto St Odessa, TX 79765 $389,000
Price cut: -$26,000 (10/29)
15 days on Zillow
10/29/16 Price change $389,000 -6.3%
10/18/16 Listed for sale $415,000
http://www.zillow.com/homedetails/3901-Oporto-St-Odessa-TX-79765/119630346_zpid/
http://www.zillow.com/odessa-tx/foreclosures/
Odessa TX Foreclosures
54 homes
Here’s one on the same street:
4005 Oporto St, Odessa, TX 79765
3 beds 2 baths 1,773 sqft
Auction
from: $213,257
‘Investor opportunity! This property was recently foreclosed by a bank or financial institution and is now available to purchase online at Auction.com ending 11-07-2016.’
11/01/16 Price change $213,257+216% $120 Auction.com
09/21/16 Listed for sale $67,500 $38 Auction.com
‘We are level,’ said Warren Ivey…”
“Compared to this time last year, number of homes sold have decreased by just over 15 percent. The price has also decreased by just over 8 percent”
So Mr. Warren; which of your statements is true?
For the record, no one wants socialized med. We all want affordable HEALTH INSURANCE.
12 years ago, the World Health Organization released the World Health Report 2000. Inside the report there was an ambitious task — to rank the world’s best healthcare systems.
The results became notorious — the US healthcare system came in 15th in overall performance, and first in overall expenditure per capita. That result meant that its overall ranking was 37th.
u work almost 4x as many hours today vs the 1950s to pay for health care
answer? the gov got in in the 60’s
like college
housing
like anything gov touches
What country has the “no gov” option? How is that working out? Fantasy Island maybe?
Healthcare also changed dramatically. In the 1950’s, if you had bad knees or a bad hip, you were given cortisone shots and when those stopped working you were given a walking stick. Now you get those joints replaced.
I doubt many would be too happy if we went back to 1950’s healthcare. It was pretty much the stone age back then. A nephew was born with a bad heart. Surgeons were able to repair it, had he been born in the 1950’s he would have been a goner.
There is a reason why it was a lot cheaper. The new tech is new, first of all, which means that $0 was spent on it back then because it didn’t exist. And because of its complexity, it’s expensive.
In the 50 a car had a carborator
Hours worked is the parity measure
“Healthcare also changed dramatically.”
+1 Indeed, good reply.
What would we do without know it alls telling us what we-all want.
The results became notorious — the US healthcare system came in 15th in overall performance, and first in overall expenditure per capita. That result meant that its overall ranking was 37th.
And that was long before Obamacare. We were outranked by just about every other first world country, all of which had socialized healthcare.
Are you smarter than MC?
Mark Cuban: “When it’s all said and done, I’d rather lose every penny than have Trump as president because I care more about the future of my family, my children than I do about my pocketbook,” he said. “And so if it means we play to empty arenas, I’m down with that.”
That guy’s an idiot.
I’ll tell you what, if Trump wins Yellen can keep her job and Clinton won’t go to jail.
I lied; lock her up!
It’s hard out for Hillry pimps out there.
not an easy choice: http://www.businessinsider.com/seth-meyers-how-do-you-choose-donald-trump-hillary-clinton-2016-11
I love the claims from all of the non-attorneys out there suggesting “overwhelming evidence” to lock her up. If it was so obvious, so overwhelming and so air tight conclusive then she would be in jail by now. Oh yeah, I forgot the obvious rebuttal to this statement - the whole country is weak, corrupt and totally beholding to the sinister choke hold of the Clinton Cartel that only a game show host can lead us to the promised land.
Mike, is that you? Shouldnt you be stuffing ballot boxes or something?
Nah, not Mike—this one reads slightly different in tone; the SPLC must have rotated someone new over to cover this blog.
Agreed, Mike was low energy. No stamina! Not sure where he got the mighty from, false advertising. Maybe needs to get marketing tips from Carlos Danger.
My guess is that it’s the old Measton. Didn’t measton live close by Lexington KY?
Hey Donk.
‘lead us to the promised land’
Very adult. Here’s something to think about: if you or I were in this email situation, there would be a federal grand jury decide if an indictment would be brought. All the ordinary rules don’t apply to the Clinton’s. Like when she gave testimony to the FBI, but not under oath. Everybody else had to be put under oath, just not her.
the military is going w Johnson, the military industrial complex is w trumpf
Bush and Cheney did not testify under oath to the 9/11 comm.,,insisted on testifying together and not separate.
Like when she gave testimony to the FBI, but not under oath.
Her lawyers know that a substantial fraction of folks go down, not for their original crimes, but for lying about them under oath to the FBI; it’s much easier to prove the lies than it is to gather compelling evidence of many crimes.
‘Bush and…’
Now that the Bush/Clinton crime families have joined forces for this election, we can stop accepting their past crimes as excuses for more criminality.
Ben Jones: if you or I were in this email situation, there would be a federal grand jury decide if an indictment would be brought. All the ordinary rules don’t apply to the Clinton’s
“Laws are spider-webs, which catch the little flies, but cannot hold the big ones.” — Anacharsis
Trump would be great for the military industrial complex, with big government deficits to finance a military expansion.
Are you smarter than MC?
Yes and more handsome, too.
Next question?
You bank account disagrees.
Well yahoo wasn’t available when I was ready to sell my crap.
That’s the only difference.
Really, that’s it? lola!
Yep. That’s it!
Why do you worship shysters like MC and Hillry?
HRC is a war-monger, neo-con.
“if it means we play to empty arenas”
Oh no, not that!
I had to look up who Cuban is. Never heard of him.
If only Hannity spoke of Cuban.
Who is Hannity?
He’d rather impoverish himself? Talk about hyperbole. The future of his children rides a lot more on his wealth than on who is elected president, by several orders of magnitude, and he knows it. This guy lives in a 24,000 square foot house!
And the fact that Cuban’s opinion — on anything — is covered by the media is entirely dependent upon his wealth, including his ownership of a professional sports franchise. Does he know that? Plenty of people less smart than he is do.
‘Texas markets dominated the list when it comes to the increase in percentage of listings with price reductions’
The Dallas UHS tell us they’ve got 2 months of inventory and prices are going through the roof. So why would I cut my price if it’s going to sell in 60 days? Heck in 6 months I could get even more, right?
What are you afraid of?
Trump Wants Former Goldman Partner And Soros Employee To Serve As Treasury Secretary
What about the swamp? Could Trump just be telling the minions what they want to hear? I sure dont like his tax cut for the rich and more trickle down, we have been on that drug for 30+ yrs.
What swamp? There’s no swamp. LOL
Vote Hillry twice and be happy.
you are wrong. there is a smelly swamp.
there is a smelly swamp.
then vote trump.
“Could Trump just be telling…”
Of course. That’s why the establishment picked him as the new crown prince and water carrier!
Saw a condo for a low low price come up for sale last night. Dont care, but I know the place because family has stayed there whilst visiting. Probably sell for 30K. At the peak it sold for 150K! I’ve seen worse in this complex, but the weird thing was the property was assessed at 300K! Ouch, gotta be fun paying those taxes.
Wouldn’t the assessment change if there was a sale at $30K?
You really don’t know much about public union goons - do you?
In my neck of the woods there is a website provided by the county to challenge assessments. I have successfully challenged mine on more than one occasion. You provide the comps, which are easy to find on zillow.
Also, when I lived in San Diego county, you could challenge an assessment. A lot of people did after prices tumbled in the mid 90’s. It was more involved, as an appraisal was required.
Is the county assessor really that on the ball where you live, Blue, that they would do this automatically? In my limited experience, you would typically have to appeal to get the assessment re-evaluated based upon the sale price. Last time I did that, the head of the committee was a neighbor in the same subdivision hoping that his house was worth more, not that his assessment would go down.
Yeah, actually. When I bought a house here in 2001, they changed the assessment (up) to exactly what I paid for it. A mistake on my part for including some things in the price that were not “house”. When I bought again a few years ago the assessment was lowered, at the issuance of COO, to what I paid for it plus what the lady knew I had done to improve. She asked me a few questions about the inside and I found her to be fair. She already knew that I had put a new roof on.
NY keeps statistics on what houses are assessed for vs what they sell for. In most of the local districts it is within a few percent. If they want more money, the jack the rates. Our local rate was lowered a tad this year.
Some states like NM can me 10 yrs behind in assessments. My first home there was taxed as raw land for years, before they caught up.
My county now doesn’t even consider your home’s condition any longer - they rely upon comparable sales in the neighborhood. Anything to get the values up.
I think Millennials refuse to buy a home as there is no job security these days. One must stay loose especially in tech. They also refuse to spend their life in traffic.
My Millenial friends just don’t like to be tied down. One friend has moved from DC to Colorado to Chicago, and is thinking of a new place in two years. The days of growing up where you were conceived are long gone.
That’s nothing new. Everyone who lives in the US has a heritage of moving when someplace else looks better.
As I predicted yesterday on this blog, cubs would win and they did. Dont follow sports, but I have been aware of the scams long enough to figure out that its rigged in the big series as to who goes to the finals and sometimes but not always who wins. The riggers make insane amounts of money off of it, and they like to sometimes lay down some symbolism - remember the s&p 500 closing at 911 on 9/11 a few years after 2001? Yeah, little things like that to show their control. Anyway, cubs winning indicates the bear market is starting in earnest, and the once in a century event probably also portends a trump win, but less sure on that. Read more weirdness at the vigilant citizen for the symbolic programming they do. If the rumors of child trafficking by people connected to the clinton foundation are true, understanding this stuff will be even more relevant
http://vigilantcitizen.com/
and don’t forget area 51 has been busy of late and my friend in the office just turned 51…ef’n spooky!
Don’t forget the one about the KGB working with Trump to steal the election and Clinton’s precious bodily fluids.
General Jack D. Ripper: Mandrake, do you recall what Clemenceau once said about war?
Group Capt. Lionel Mandrake: No, I don’t think I do, sir, no.
General Jack D. Ripper: He said war was too important to be left to the generals. When he said that, 50 years ago, he might have been right. But today, war is too important to be left to politicians. They have neither the time, the training, nor the inclination for strategic thought. I can no longer sit back and allow Communist infiltration, Communist indoctrination, Communist subversion and the international Communist conspiracy to sap and impurify all of our precious bodily fluids.
http://www.imdb.com/title/tt0057012/quotes
Strangelove= top ten
Youre going to need a new attitude with all the truth bombs dropping like a pedo on the board of the clinton global initiative:
https://en.wikipedia.org/wiki/Brock_Pierce
https://medium.com/@cuttlefish_btc/brock-pierce-timeline-a230ad1ecdc5#.x99ju9lea
HRC is a warmonger. I am not a supporter.
<iI am not a supporter.
Just a paid volunteer?
yep
finally some truth from those lying mouth.
god exists afterall.
Riggers move heavy things with little effort. We all have the opportunity to experience this next week. Make the effort.
Scanned the news. Obama making a speech in NC. Saying Trump is going to support the Klan once he is President. The future of the world is at stake.
I find this kind of dishonest behavior on the part of our President of eight years disgusting. It is a rotten basket of fruit in DC. I will be glad to see the trash taken out. If it doesn’t happen next week, it’s still coming. Best used by date is long past and that doesn’t take care of itself.
Not hyperbole, the future of HIS world is at stake. He was looking to do the same thing with his foundation post presidency.
Who would Jesus vote for?
Hillry. Vote twice for hillry is all jesus says these days.
That’s a hoot. Lola invoking Jesus.
Piss ant. Just looking for a rise.
Well….. it is Lola we’re talking about.
S&P 500 longest losing streak in 8 years…
This is it. Hillry is done. FBI, Stocks & Wikileaks….and No Nuclear option….It’s more than clear that her masters have abandoned her.
Is the gradually sliding stock market trying to price in a Trump win?
While the Lynch Justice Department is in “see no evil” mode regarding DNC and Clinton corruption, it’s good to know that Comey’s willingness to whitewash Crooked Hillary’s lawbreaking is not shared by FBI agents writ large, who have a universal antipathy toward the Clintons and their years of escaping accountability for their crimes and influence peddling.
https://www.theguardian.com/us-news/2016/nov/03/fbi-leaks-hillary-clinton-james-comey-donald-trump
What, do those FBI agents think the law should apply to everyone or something?
Hope n’ change comes to NYC. We will not have affordable housing until we end the Fed, end QE-to-Infinity, and get true price discovery.
http://www.zerohedge.com/news/2016-11-03/nyc-homelessness-surges-highest-levels-great-depression
As I predicted, taxpayers are fleeing municipalities run by corrupt, incompetent members of a certain political party characterized by patronage, graft, and maladministration.
http://www.zerohedge.com/news/2016-11-03/americans-fleeing-expensive-over-taxed-metro-areas-pursuit-affordability
We will not be able to embark on more neocon wars until our military has been further feminized and socially engineered. Forward!
http://usdefensewatch.com/2016/11/ash-carters-force-of-the-future-fatsoes-druggies-trannies-and-trendies/
Wikileaks has revealed the ugly truth the MSM won’t touch: the Democrats are run by and for corrupt and venal oligarchs.
http://www.investors.com/politics/editorials/wikileaks-reveals-the-billionaire-progressives-that-run-the-democratic-party/?ref=yfp
The French voted for globalists and open borders. Now they are reaping what they voted. Crooked Hillary supporters, take note.
http://www.breitbart.com/london/2016/11/03/paris-streets-turned-warzone-violent-migrants/
Anti-Trump, anti-BREXIT protesters can only muster a dozen future cat ladies in the entire city of London.
http://www.breitbart.com/london/2016/11/03/globalist-avaaz-attracts-dozen-supporters-anti-brexit-anti-trump-london-protest/
Meanwhile, the next Lehman moment slouches closer.
http://wolfstreet.com/2016/11/03/banco-popular-spain-becomes-penny-stock-crushed-european-banks/
To the fitness buffs in here, riddle me this. If Hillary’s deleted 33,000 e-mails were mostly about yoga classes, as she claims, why is it that she approaches each stair-step clinging to a handler’s arm like she’s climbing Mount Everest?
It takes a village to keep Hillary upright.
https://onsizzle.com/i/it-takes-a-village-to-keep-hillary-upright-hopen-change-2370478
I’ve done yoga from time to time and I can’t recall sending a single e-mail about it, other than to recommend a particular studio to a co-worker. Ms. Clinton doesn’t seem like the yoga type to me. Chelsea, yes. I can see Bill Clinton doing it for the ogling opportunities.
The Founding Fathers built in checks and balances to help preserve the Republic, but over the past several decades almost all of our institutions and the media have been captured by globalist oligarchs bent on pushing their own neoliberal agenda. But while the Justice Department hasn’t managed to send a single banker to prison for causing the 2008 financial crash, and is in cahoots with the DNC, at least some FBI agents appear to have enough professional integrity to feel moral outrage at seeing the Clintons’ decades of corruption and influence-peddling going unpunished. Maybe there is hope after all that some semblance of “rule of law” can be restored, even for the corrupt and venal .1% embodied by Crooked Hillary.
http://www.businessinsider.com/hillary-clinton-fbi-trump-2016-11
That’s the problem with cops. Some of them are ideological.
Hehehe….
https://onsizzle.com/i/oo-sprint-lte-84-1-51-pm-813-701-2117-hi-its-3594559
Bernie Sanders was always the controlled opposition, and a sellout.
http://www.businessinsider.com/bernie-sanders-raleigh-north-carolina-hillary-clinton-pharrell-2016-11
http://www.cbsnews.com/news/fbi-finds-emails-related-to-hillary-clintons-state-department-tenure/
Due to extreme carelessness, state department e-mails ended up on a laptop in the possession of a pedophile.
Where is HRC planning to keep the nuclear codes? In the cookie jar on top of her refrigerator?