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Friday, March 28, 2008
The dust has settled after the news broke in mid-February about the surprising bankruptcies of two of Tamarack Resort's majority owners. Still, important questions remain: if Idaho's most prominent resort has such difficulties, what will follow? What does it all mean?
Not much, really. Idaho construction insiders insist, despite the financial problems at its most prominent resort, that the overall economy of the state has a decent shine to it, and may even be improving.
(Tamarack CEO Jean-Pierre Boespflug said the bankruptcy will have no impact on the resort's day-to-day operation. "You can continue to do business with Tamarack Resort in a complete and normal way," he said at the time of the filing.)
"Residential building has hit bottom, and we're on the ascent," said Steve Martinez, president of the Idaho Building Contractors Association. "Permits are going back up, the phone is ringing again. For months, it's been remodel orders, but now we are seeing clients. It's a little ...
| Posted by maricela at 10:14 AM |
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Wednesday, February 27, 2008
Finance costs will rise as the economy recovers, so trying to time real estate might not pay off...
| Posted by maricela at 10:17 AM |
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Wednesday, February 20, 2008
Dan Hernandez, the newly installed president of the Ada County Association of Realtors, says you have to earn the right to be a successful residential real estate agent. As a young man back in Los Angeles, Hernandez routinely stayed after hours making up to 50 cold calls a night. He also went door-to-door introducing himself to people, most of whom had no use for his services. There was time spent working the "For Sale By Owner" and expired listings markets, as well as various Internet lead generation systems. The hard work, and the law of averages, has paid off in a career dating back 14 years. Hernandez now heads an organization of some 4,000 Ada County Realtors who are struggling to weather the worst sales downturn in recent memory.
Q: Has the art of selling residential real estate changed?
A: The basic fundamentals have not changed, As I told you, I cold called, knocked on doors and worked the lead box. In my view, many agents came into the business for quick buck. And ...
| Posted by maricela at 11:22 AM |
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Thursday, December 20, 2007
The United States Senate passed a landmark FHA modernization bill (S. 2338) that could help stabilize the housing finance crisis. Because there are significant differences between the recently passed Senate legislation and the bill passed earlier this year by the House of Representatives (H.R. 1852) a conference committee with members of the House and Senate will be appointed to reconcile the differences.
Senate action on legislative overhaul of the Federal Housing Administration, was delayed nearly a month because of a hold by Tom Coburn, R-Okla. Earlier this month REALTOR® members from key states participated in a "fly-in" to directly lobby Senators and Staff members to urge action on S. 2338. REALTOR® Members from Oklahoma lobbied Senator Coburn's office to impress upon him the importance of acting on FHA Modernization. the Oklahoma Association of REALTORS® also engaged in a state-wide Call For Action and submitted letters to the editors of key newspapers i...
| Posted by maricela at 10:37 AM |
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Tuesday, December 11, 2007
Beyond the current cyclical downturn in the nation's home building industry, strong underlying demand for housing should produce a healthy resurgence in residential construction, according to a report published last month by the Harvard University Joint Center for Housing Studies.
According to the projections of the analysts who worked on the study, sustainable demand for housing is conservatively measured at 19.5 million for 2005 through 2014 - or an annual average of 1.95 million.
By 2007, yearly average projections for the period decline somewhat because of the oversupply that occurred in the market as a result of the housing boom. Analysts at Harvard calculate that the period they scrutinized may well have begun with an oversupply of 500,000 to 750,000 units, to which another 250,000 excess units were added in 2005 and 2006 as the boom began winding down.
However, even assuming that the extent of the oversupply was as large as 1 million, the economists reported that th...
| Posted by maricela at 9:49 AM |
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