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- News from the Appraisal Institute Northern California Chapter Annual Spring Conference
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Monthly Archives: April 2011
According to FNC’s Residential Price Index, home prices continue to fall in double digits below the levels seen a year ago in Phoenix (15.7%), Atlanta (14.1%), Orlando (13.5%), Sacramento (11.3%), Portland (11.2%), Las Vegas (11%), Charlotte (11%), and Chicago (10.3%), followed by high single-digit declines in Tampa (9.8%), St. Louis (9.4%), Minneapolis (8.1%), San Antonio (7.7 %), and Miami (7.1%). In particular, the steady declines in recent months in St… Continue reading
A while back, I had an opportunity to speak to a college class about what it was like to be a project manager. They had been studying different aspects of project management all semester, and I was the final guest speaker brought in to discuss the real-world applications.
I spent the first 15 minutes discussing resource management, software development life cycles, and documentation. I stressed the importance of managing… Continue reading
On Thursday, server problems at Amazon’s EC2 data hosting center left thousands of buzzworthy websites (HootSuite, Quora, and Foursquare, to name the buzziest) crippled or out of commission completely. Said Computerworld:
For a company that’s known as the dominant player in the cloud market, Amazon’s troubles on Thursday means a black eye for the company and for the cloud in general.
The incident is unlikely to cause… Continue reading
Last month FNC, Inc. released the industry’s first market value-based foreclosure price discount data on single-family homes. Now a distressed property’s foreclosure sale price can be compared to its underlying market value, what it would have sold for if it weren’t in the foreclosure pipeline. FNC’s estimation of a property’s underlying market value is based on the FNC Residential Price Index™, the industry’s leading hedonic price index. In a report this week… Continue reading
February Single-Family Home Prices Decline 0.7 Percent
RPI Indicates Better-than-Expected February Seasonality in Price Declines
Oxford, Miss. (Apr. 21, 2011) – FNC announced Thursday that U.S. home prices weakened only slightly in February—a better-than-expected price seasonality.
Based on the latest data on non-distressed home sales (existing and new homes), FNC’s Residential Price Index™1 (RPI) indicated that home prices in February declined 0.7% from January, or 5.3% from a… Continue reading
The National Association of Realtors led the housing news today with its release of existing home sales data for March. For the media, the difference wasn’t in numbers, but in attitude. Here’s how it was reported:
WALL STREET JOURNAL, cautiously: “Housing Starts Remain Subdued,” and they report: “Home building rebounded a bit in March from a winter slump, but construction remains near historically low levels heading into the crucial… Continue reading
FNC, Inc. released yesterday its latest quarterly update of foreclosure price discounts. The study highlighted several important characteristics of foreclosure sales that may provide insight into the severity of market distress through the current housing cycle.
- Compared to states where power-of-sale provisions in mortgages allow lenders to foreclose on properties in the event of borrower default, foreclosed homes in judicial-foreclosure states are sold at additional 10%
Volatile markets, domestic and international monetary policy, changing regulations and politics, rapidly updating technology, and shifting global resources: The list of items impacting our software systems is constantly growing. Within the housing markets we’ve lived through a plethora of these changes, let alone the adoption of software to begin with.
Like business practices and products, software continues to adapt. This is true for software serving a market, a company… Continue reading
Bloomberg commented today that housing prices in Beijing are up as much as 800% over the past eight years. Prices for traditional Chinese art (18th century) rose 300% from 2009-2010 bouncing China right over the U.S. as the world’s biggest fine-art auction market, just as China fed an insatiable demand for fine wines—the most sought-after bottles rose 261% in China the last six years. Chinese cemetery spaces rose 200% last year supporting… Continue reading