Real Estate Prices
Real estate horror stories - Dec. 2, 2002 Enter Ticker Symbol Search CNN/Money Autos Real Estate Money's Best Home Markets & Stocks News Jobs & Economy World Biz Technology Commentary Personal Finance College Credit and Debt Insurance Interest Rates Retirement Tax Center Ask the Expert Five Tips The Good Life Millionaire in the Making Money 101 Moneyville Retirement Planner Savings Calculator Asset Allocator Mutual Funds Money Magazine Video CNN TV Fortune 500 Best Employers Money 101 Portfolio Calculators Real-time Quotes Last 5 Quotes SPONSORED BY include virtual="/fn_adspaces/markets-stocks/last_five_quotes/sponsor.88x31.ad" -- CNN/Money Email newsletters RSS Mobile news Money archives Buy story reprints Find a Mortgage SPECIAL OFFER Personal Finance Your Home Real estate horror stories There's never been a national bust but keep an eye on your backyard. December 2, 2002: 11:57 AM EST By Leslie Haggin Geary, CNN/Money Staff Writer New York (CNN/Money) - During the past three years, real estate has been a shelter in the storm. Since 2001, home prices have gained about 6.3 percent annually, according to the National Association of Realtors . And in dozens of hot markets , from San Francisco to Providence, RI to Topeka, KS, homeowners have seen double-digit price increases over the past year. Next to the seeming flimsiness of stocks, real estate looks rock solid. For the past 40 years, home sales prices have outpaced inflation by one or two percentage points per year, and there has never been a national decline in real estate values. But that's just part of the picture. When you drill down to local markets, instead of steady rises, you may find vertiginous spikes followed by stomach-churching drops. What's more, when busts hit, it can take years -- maybe even a decade -- for individuals who bought at the top of the market to recoup their investment. To see how grim it can get, we looked at annual sales figures for 138 metro areas across the country during the past three decades to spot where local bubbles burst, what drove prices into the cellar and how long it took for property owners to recoup their money. Here are some of the factors that can kill a real estate boom. Population shifts It's obvious. Jobs equal workers. Without work, residents leave, and home sales dry up. Consider the case of southern California. Once home to a thriving defense industry, military cutbacks hit the region especially hard in the early 1990s. Some 1 million individuals left the area, according to Ingo Winzer, president of The Local Market Monitor , a real estate consulting firm that tracks housing prices nationwide. In Los Angeles, home prices shed 21 percent of their value between 1989 and 1996, with the typical house selling for $172,900. (The peak was $214,800 in 1989 following a five year, 77-percent jump.) An exodus can hit smaller communities, too. Syracuse, NY once boasted 250,000 residents back in the 1950s, when it was a thriving industrial city. No longer. Many of those jobs are gone and Syracuse lost a full 10 percent of those inhabitants from 1990 to 2000, when its population dropped to 147,000 residents. Home prices, not surprisingly, fell too. Half of all property owners in the county who sold homes in 1997, for example, sold at a loss. Vacant buildings were not uncommon. (At one point, there were more than 1,000 empty dwellings.) Local recessions Ask housing experts about local busts and one of the first places they'll mention is Houston, TX. When the oil market was kicked in the teeth back in the mid-1980s, home prices in this city tumbled fast. In just three years, from 1985 to 1988, the typical home price dropped by 21 percent -- or from $78,600 to $61,800. Related Stories • Did you pay too much for your house? • Real estate or stocks? • Milking the bubble • Rev up your resale value "Prices fell so much that people owed more on than their mortgages than their homes were worth," said David Weil, an economics professor at Brown University. " They'd drive to the bank and drop off their keys to their homes and just leave." Houston isn't the only city where home prices have fallen when the local economy languishes badly. Take the stock market crash of 1987, which hit New York City's financial industry hard. Prices peaked at $183,000 in 1988, and anyone who bought then had to wait until after 1997 to get to even money. Another victim? Hartford, CT. From 1984 to 1988, the typical home price soared 92 percent to $167,600 from $87,400. Then the insurance industry started laying off or moving out. Hartford's population growth slowed to zero. And home prices starting falling. In fact it wasn't until last year that someone who bought at the 1988 price would have made their money back. Fast run-ups in housing values Are markets that have soared quickly especially prone to a bust? That's a question no doubt troubling many homeowners. But the answer isn't simple. Certainly, there have been plenty of hot markets that suddenly turned sour. Consider Honolulu, Hawaii, for example. Back in 1995, the average tab for a house in this community hit a record $360,000 -- a whopping 122 percent increase from the decade before. Then suddenly, prices began to drop. By 1999, a $360,000 island retreat was being unloaded for $290,000, a 19 percent discount, according to NAR. Prices started to finally rise in 2000, but anyone who bought at the island's real estate peak didn't recoup their money until this year. Hawaii's housing woes were tipped off by several factors, not the least of which was the decline in the Japanese economy, which squelched real-estate investment in Hawaii. Honolulu was also in trouble in part because few fundamentals, other than investment dollars -- were pushing the market. In fact, during the boom years, the island's population was climbing at a 1 percent rate, too low to justify the massive run-up in housing values. Bottom line: it's important to look at what drives housing spikes before you assume there will be a catastrophe, said Winzer. Rising interest rates "People tell you that housing never goes down, but that's just not true -- you try to sell a house when interest rates have gone up," said Stephen Cauley, associate director of the Ziman Center for Real Estate, Anderson School at UCLA . To illustrate his point, Cauley points to the early 1980's, when double-digit interest rates were being used to fight inflation. That made the cost of borrowing money for a home almost prohibitively expensive. "It was horrendous for the housing market," said Cauley. "There were no transactions." By 1982, the number of existing home sales had slid to 1.92 million, the lowest number on record, according to NAR. Many markets -- notably Detroit, Providence, Chicago and Philadelphia -- saw home prices stay flat or fall between 1979 and 1982. These days, of course, high interest rates seem a distant threat, though they are beginning to creep up. Current mortgage rates are hovering just above 6 percent for a fixed, 30-year loan. But even if rates go up a full percentage point, rates are still low, said Cauley. How will all this play out? If history is any guide, there won't be one big pop, the kind that usually come with stock-market crashes. But that doesn't make it any less painful. --* Disclaimer Selling? Buying? Click to compare top local real estate agents More on YOUR HOME • Your Home: Bracing for higher rates • Refinancing demand lags again • A rose is (not) a rose TODAY'S TOP STORIES • Most overvalued housing markets • Risks to the economy in 2006 • Which was the worst ad of all in 2005? CNN Money contact us | subscribe to Money magazine advertising -- | site map | glossary | RSS | press room OTHER NEWS: CNN | SI | Fortune | Business 2.0 | Time © 2005 Cable News Network LP, LLLP. A Time Warner Company ALL RIGHTS RESERVED. Terms under which this service is provided to you. privacy policy Reprints of site stories are available.
Real Estate Agent
Prudential Northeast Properties - A Maine Real Estate Agent | Buying, Selling, Residential Homes, Commercial Properties Residential Property Commercial Property Land Multi-Family Rentals Find a Professional Contact Us Relocation Services Buying and Selling Tips Request for Info Careers in Real Estate Community Consumer Information Home Bangor Office 160 Broadway (Main Office) Bangor, Maine 04401 (207) 942-8261 (tel) (207) 942-9544 (fax) Ellsworth Office 105 High Street Ellsworth, Maine 04605 (207) 667-4604 (207) 667-4719 (fax) Searsport Office 185 West Main Street Searsport, Maine 04974 (207) 548-2280 (207) 548-0246 (fax) Camden Office 23 Main Street Camden, Maine 04843 (207) 236-4393 (207) 236-4314 (fax) Newport Office 158 Main Street Newport, Maine 04953 (207) 368-4400 (207) 478-4361(fax) Northeast Harbor Office 12 Summit Road Northeast Harbor, Maine 04662 (207) 276-5108 (207) 276-5091 (fax) Dexter Office 24 Main Street Dexter, Maine 04953 (207) 924-3300 (207) 924-6700 (fax) Prudential Northeast Properties is a Maine real estate company serving all of Eastern, Central, Coastal, and Downeast Maine. We can help you with: Buying or Selling a Home Real Estate Investment Commercial Properties Mortgage Finance Appraisal Services New Home Construction Why Choose Prudential? Our commitment to serving the needs of our clients with uncompromising professionalism, caring and integrity sets our company apart from other firms. Experienced, knowledgeable real estate brokers combined with our "one stop shop" approach to real estate allows us to provide you with superior service and products. We have been in business since 1903, and our affiliation with Prudential Real Estate enhances our network capacity and provides access to the best tools and programs available. With our world wide reach and state of the art technology and services we simply have more to offer you. Whether you're interested in buying or selling a home in Maine, or seeking resort, vacation and retirement living opportunities in Maine, we offer you a wide range of information designed to help you make the right decision concerning this substantial investment. If you're thinking about relocating, be sure to explore "relocation services " to make yours an easy move. We invite you to become one of our valued clients today - Welcome. OR Property Type Residential Commercial Land Multi Family City/Town OR MLS Number | Residential Property | Commercial Property | Land | Multi-Family | Rentals | Find a Professional | Contact Us | Relocation Services | Buying and Selling Tips | Request for Info | Careers in Real Estate | Community | Consumer Information | Home | 1998 - 2005 Prudential Northeast Properties. An independently owned and operated member of The Prudential Real Estate Affiliates, Inc. is a service mark of The Prudential Insurance Company of America. Equal Housing Opportunity. Equal Opportunity Employer.
home equity options line
Countrywide - Home Equity Loans home equity home owners guide home loan glossary equity credit line process home ownership tips your credit report home equity options line of credit options quick approval options rates & costs home equity calculator loan advisor apply now call us: 1-800-825-4549 1-800-825-4549 contact us | site map | log in CFC home | about us | investor relations | business partners -- Learn: How much you can borrow. The difference between a Home Equity Loan and a Home Equity Line of Credit. The benefits of applying for a Home Equity Loan. Shop: Our rates for a Countrywide Home Equity Loan. Apply: Online now Homeowner Guide Learn about the process for getting a home equity line of credit. Plus, pick up valuable home ownership tips you can use right now. Home Equity Options Get help selecting the right line of credit for you, and discover ways we can speed up the approval process. Rates & Costs Find Today's Rate for our home equity program and learn your options on closing costs. Home Equity Calculator See how large a line of credit you can afford and your home equity will support. Loan Advisor Use this simple tool to find the best home equity loan or credit line for you. See The Benefits of Applying Online See a preview of our online application process where qualified borrowers can get an UpFront approval in minutes. Apply Now Jump start the loan process by taking a few minutes to submit your application online. Easy, Really. Home Equity Line of Credit ("HELOC") or Home Equity Loan A home equity line of credit is a lot like a credit card. You can continuously use it up to your credit limit. One of the best parts of a home equity line of credit is that the interest rate is typically lower than a credit card and the interest paid can be tax deductible (consult your tax advisor about your personal situation). Most home equity loans are simply second mortgages. They have fixed rates with longer terms over a fixed period of time. These loans are amortized - your monthly payment is applied to principal and interest. You receive the amount of money you borrow in one lump sum. For this reason, home equity loans can be ideal for longer-term financial goals. back to top Benefits of Applying for a Home Equity Line of Credit or a Home Equity Loan Home equity lines of credit or home equity loans, you've probably heard about using these types of home equity financing products to meet your financial goals. You can tap into your home's equity and use the money to consolidate your debts*, finance your remodeling projects, pay your children's tuition, buy a new car or a boat, or even take your dream vacation. Tapping into the equity built in your home is a wise choice that allows you to take advantage of lower interest rates. Furthermore, some of Countrywide's line of credit options do not even require an appraisal of your house. Interest on both a home equity loan and line of credit may be deductible (consult your tax advisor about your personal situation). back to top service guarantees | why choose Countrywide? | loan status | find a branch | current customers | home loans | log in loans en espaol | Countrywide's Full Spectrum Lending Division | we house america | banking | insurance | investments your accounts | contact us | site map | careers | about us | investor relations | privacy & security | licenses & registrations Equal Housing Lender. © 2005 Countrywide Home Loans, Inc. Trade/service marks are the property of Countrywide Financial Corp., and/or its subsidiaries. *UpFront Approval is subject to satisfactory appraisal and title review and no change in financial condition. If the rate is not locked or rate protection expires, any rate increase may lower the loan amount for which the borrower has pre-qualified. Some products may not be available in all states. Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation. State Licensing . Privacy & Security.
Home Mortgage Disclosure Act
FFIEC Home Mortgage Disclosure Act --- ABOUT HMDA: HOW TO FILE: PUBLIC DATA: REPORTING RESOURCES: SEARCH SITE INDEX PDF HELP CONTACT US PRIVACY POLICY QUICK LINKS Rate Spread Calc Geocoding System FAQs Data Order Form Aggregate Report Disclosure Report National Aggregate Census Reports CRA Suppl Reg C Amend. Welcome to the FFIEC's Home Mortgage Disclosure Act (HMDA) web site. Information is organized into four categories: About HMDA Learn about the history and regulation behind HMDA How to File Find file specifications, software and various resources for reporting HMDA data Public Data Access on-line reports and ordering information for HMDA public data Reporting Resources Quick reference to reporting resources and assistance. WHAT'S NEW The 2006 HMDA Data Entry Software is available. Asset threshold increase for CY2006. FAQs updated with Type of Purchaser. FFIEC issues additional guidance on HMDA reporting . FAQs updated with Temporary Financing. 2006 Edits and File Specs are available. Corrections for 2004 HMDA Aggregrate and Disclosure data are available. Press Release announces the availability of 2004 HMDA data. -MUST READ. Data Collection Procedure Change -MUST READ. 2005 Census Data Geocoding System is now updated with 2005 census information. The 2000 CRA/HMDA Reporter is now available. This newsletter provides information on various topics to assist in the collection and reporting of CRA and HMDA data. It's a MUST READ! -- An August 8, 2000 Press Release announces the availablility of data about 1999 mortgage lending activity, National Aggregates , MSA Aggregate and Disclosure Reports . --
Colorado Real Estate Center
Centers of Excellence Search Leeds Site CU Web Site CU People Burridge Center for Securities Analysis and Valuation Business and Society Business Research Division Center for Business Integration Center for Sustainable Tourism Deming Center for Entrepreneurship Real Estate Center Undergraduate Program MBA Degree Options Full Time MBA Evening MBA MS in Accounting Ph.D. Program Executive Development News & Events Alumni Network Career Lifelong Learning Supporting Leeds Contact Us Faculty Directory Faculty Profiles Research Centers Research Highlights Business Library Academic Departments Conferences About Employers Undergraduate Graduate Alumni Hire a Leeds Graduate Executive Development Consulting & Research Supporting Leeds Leeds Commitments Course Directory Resources Clubs & Organizations Events Degree Requirements Leeds In Boulder Why Leeds? Leeds Programs Admissions Diversity Centers of Excellence Business & Society Directions/Visit Spotlight CU Real Estate Council 2006 Annual Conference on March 1, 2006 - CU Real Estate Council 2006 Annual Conference on March 1, 2006 Leeds MBA Students Win $50,000 in National Design Competition - A five-student UC team, including three Leeds MBA students, won $50,000 in a national urban design competition held in Salt Lake City on April 1. The CU team defeated 71 student teams from universities throughout North America, including Harvard, Columbia and the University of Texas at Austin. 2006 Smart Growth Conference, January 26-28, 2006 - A national, multi-disciplinary smart growth conference presented by the Local Government Commission (LGC) and The Pennsylvania State University. Real Estate Center Welcomes New Assistant Professor, Liang Peng - Real Estate Center Upcoming Events No Upcoming Events View All Events Burridge Center for Securities Analysis and Valuation Business and Society Business Research Division Center for Business Integration Center for Sustainable Tourism Deming Center for Entrepreneurship Real Estate Center Learn More About the Center Student Resources General Resources Publications Real Estate Center CU Real Estate Center The University of Colorado Real Estate Center is a high-caliber academic real estate program for graduate and undergraduate students attending the Leeds School of Business. With the active participation of the CU Real Estate Council, the program offers coursework, internships, networking and job placement assistance. The program began with the development of the CU Real Estate Council in 1990. This group of industry professionals (many of whom are CU alumni) desired a stronger relationship with CU. In 1996, the CU Real Estate Center was formed with the assistance of the Council, University of Colorado Leeds School of Business, and the University of Colorado Foundation. The Center is involved in many activities that impact the University and the community at large. Recent Center activities include: Creation of an endowed chair in Global Real Estate Capital Markets Formation of the Growth Management Alliance, serving to educate and involve Council members in critical growth management issues affecting Colorado Involvement in campus and external University real estate issues Involvement in community land use issues, providing research, advice and facilitation to private and public organizations Working with ULI, NAIOP, CREW, and other industry organizations to provide opportunities for our students and to educate and inform Coloradans about current real estate issues Learn More About the Center Mission Statement Location Conferences and Events Board of Governors Real Estate Council Growth Management Alliance Student Resources MBA Curriculum Undergraduate Curriculum Internship and Job Opportunities General Resources Real Estate Web Links Publications Tracks Newsletter Contact Information CU Real Estate Center Leeds School of Business, Room 251 Phone: (303) 492-3643 Fax: (303) 492-5507 Mailing Address: CU Real Estate Center Leeds School of Business University of Colorado at Boulder 419 UCB Boulder, Colorado 80309-0419 >> Directions to the Center Hours of Operation Monday through Friday 8:00 a.m. - 5:00 p.m. Centers of Excellence >> Real Estate Center Home | Contact Us | Apply | About Leeds | Search | Press Room | Employment | Site Map | Internal Resources Leeds School of Business, Bldg #4, UCB 419, Boulder, Colorado 80309-0419 © 2004 Regents of the University of Colorado.