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Friday, February 28, 2014

Existing-Home Sales Drop in January While Prices Continue to Grow

Existing-Home Sales

Data


The Existing-Home Sales data measures sales and prices of existing single-family homes for the nation overall, and gives breakdowns for the West, Midwest, South, and Northeast regions of the country. These figures include condos and co-ops, in addition to single-family homes.

Latest News

WASHINGTON (February 21, 2014) Existing-home sales fell in January to the lowest level in a year-and-a-half, but ongoing inventory shortages continue to lift prices in much of the U.S.
Read the full news release
View supplemental market data (Excel: 29KB) Summary of December 2013 Existing Home Sales Statistics (PDF: 398 KB)

Wednesday, February 19, 2014

Lenders Rush to Unload REOs, As Home Prices Rebound

BANKS  UNLOAD REOs

The recovery in home prices this year is prompting banks to sell off their REO inventory at a brisker pace. Sales of bank-owned homes made up 10 percent of residential sales in November, the third consecutive month for increases in REO sales, RealtyTrac reports. 

"Lenders are taking advantage of this environment to unload more of their bank-owned inventory and in-foreclosure inventory at the foreclosure auction," says RealtyTrac's Daren Blomquist. "But as the backlog of distressed inventory available dries up in many of the markets with the most efficient foreclosure processes — namely California, Arizona, and Nevada, with Georgia not far behind — overall sales volume is declining and will continue to do so until more nondistressed sellers enter the market."

Rick Sharga, executive vice president at Auction.com, says his company is “seeing more properties sold at trustee sales, and we are seeing more properties that are coming from servicers priced to sell at trustee sales.” 
Previously, mortgage servicers would put foreclosed homes up for sale at the full value of the loan, CNBC reports. However, those homes would often land back at the bank as investors sought larger discounts. “Ironically, as prices are rising, servicers are discounting the homes more,” CNBC reports.

Source: “Sales of bank-owned homes surge,” CNBC (Dec. 20, 2013)
Daily Real Estate News | Thursday, December 26, 2013 

Saturday, February 15, 2014

Monday February 17th, 2014 - President's Day

George Washington was the first president of the United States of America. His first term as president was from 1789 to 1793 and his second term from 1793 to 1797. Before he became president, he played important roles in the military, leading the American Continental Army to victory over the British in 1783. Washington is often seen as the father of the United States and is probably the best known American politician ever.
The likeness and name of George Washington can still be seen in many places in the United States. There is the portrait of him and three other American presidents carved into Mount Rushmore National Memorial in South Dakota. His image is also used on the one-dollar bill and the quarter-dollar coin. The capital of the United States, Washington D.C., Washington State and at least three universities are named after him.
Washington's Birthday was first celebrated as a holiday in the District of Columbia in 1880. It was made a federal holiday in 1885. The holiday was originally held on the anniversary of George Washington's birth, on February 22. In 1971, this holiday was moved to the third Monday in February.
This holiday is legally designated as "Washington’s Birthday". Though other institutions such as state and local governments and private businesses may use other names, it is the federal government’s policy to always refer to holidays by the names designated in the law.

Tuesday, February 4, 2014

Weekly Events in Salt Lake City and Beyond...



Weekly Event Update
February 4, 2014

EVENT SPOTLIGHT:
 
Cirque Ziva: Golden Dragon Acrobats
February 6-8, 2014
De Jong Concert Hall - Provo

Cirque Ziva Golden Dragon Acrobats

Cirque Ziva, a technically innovative, beautiful new show from the artistic director of the Golden Dragon Acrobats, features a large, athletic cast and spectacular scenic and lighting elements. With superb artistic merit, high production values, and a solid commitment to cultural exchange, Cirque Ziva demonstrates why the Golden Dragon Acrobats have been recognized as the preeminent Chinese acrobatic company touring the United States.


 



FEATURED EVENTS:
 
Robert Burns Celebration: Moab Music Festival
February 8, 2014
Grand Center - Moab
 
Robert Burns Celebration
 
Christopher Layer and Kate MacLeod will host The 10th Annual Robert Burns Celebration with the Moab Community Dance Band. The sounds of the Scottish Great Highland Pipes, songs, poetry and the aroma of steaming haggis fill "The Great Hall" to celebrate the life and works of poet Robert "Rabbie" Burns. The event is free but donations are accepted at the door. Proceeds benefit the Moab Music Festival Educational Outreach Fund.
 

 
Olympic Inspiration Day
February 8, 2014
Discovery Gateway - Salt Lake City
 
Discovery Gateway's Olympic Inspiration Day
 
Celebrate the start of the 2014 Winter Olympics and be inspired by local Olympic athletes during a meet and greet at the museum featuring, Paralympian Medalist Muffy Davis, Olympic Gold Medalist freestyle skier Nikki Stone, three-time Olympic freestyle skier Tracy Evans and bobsled Silver Medalist and head of the Utah Olympic Park's G-Force program Valerie Fleming. Create Olympic torches, mascot puppets and logos for helmets and skis, then get moving and complete a kid-sized, Olympic-themed obstacle course and receive your own medal!
 


 
Jazz Reach Presents Metta Quintet
February 10, 2014
Cache Valley Center for the Arts - Logan
 
Jazz Reach presents Metta Quintet


A cohesive, tight-knit unit featuring some of today's most esteemed, creative artists, Metta Quintet is fueled by a collective, open-minded musical curiosity and dedicated to exploring new artistic territory while maintaining a passionate commitment to arts education, fostering new audiences and nurturing young talent.