Friday, February 26, 2010

Housing-price recovery hits new milestone

by J. Craig Anderson - Feb. 25, 2010
The Arizona Republic


The Valley's epic home-price slide reached another recovery milestone in January, the first month in nearly three years with a single-digit annual rate of decline, according to preliminary data from Arizona State University's Repeat Sales Index.

ASU professor Karl Guntermann said January's year-over-year decline of 9 percent continues a stabilizing trend that has been consistent for several months.

The rate was 17 percent in November, and preliminary figures indicate a 13 percent rate of decline in December, according to Guntermann.

"The slowdown in the rate of decline has been accelerating for several months," he said. "If the present trend continues, prices will level off later this spring."

An index of zero percent would mean home prices were roughly the same as they were a year earlier, Guntermann said.

That point appears to have been reached for foreclosed-home sales, based on preliminary data. Guntermann said November's annual rate of decline for foreclosed homes was 9 percent, and preliminary data show it falling to 2 percent in December and zero percent in January.

The index measures differences in the average price of selected homes that have sold multiple times. Its purpose is to provide the most accurate reflection possible of the actual market, and it is the same methodology used for the nationally popular S&P/Case-Shiller Home Price Index.

The median sale price for foreclosures continued on a steady decline that barely has budged in more than a year.

The overall median price for non-foreclosure sales in January was $155,000, compared with $160,000 in December and $166,000 in November.

The index does not correlate exactly with year-over-year price changes, Guntermann said, because there is a sort of reverse momentum built into the calculation that lowers the index if it's on the rise, and raises it if it's on the decline.

It has been dropping for a record 33 months since home prices peaked in mid-2006.

Still, Guntermann said that is likely to change within the next few months as prices bottom out and remain static or recover slightly.

Preliminary data show the median home price in January was $125,000, down from $133,000 in December and $135,000 in November.

Wednesday, February 03, 2010

Stocks rally on housing data

Pending home sales rise. D.R. Horton posts its 1st profit in nearly 3 years. UPS sees shipments picking up in 2010.
by Elizabeth Strott on Tuesday, February 2, 2010

A better-than-expected report on pending home sales and strong results from homebuilder D.R. Horton (DHI) helped ease concerns about the housing market and lift stocks today.

The National Association of Realtors' index of pending home sales rose 1% in December after tumbling 16.4% in November. Pending sales reflect deals that have been signed but not completed. Sales were up 10.9% from the same month a year ago. The index has risen for nine out of the past 10 months as buyers work to take advantage of homebuyer tax credits extended by the government to prop up the market.

At the close, the Dow Jones Industrial Average ($INDU) was up 111 points to 10,20297. The Nasdaq Composite Index ($COMPX) had gained 19 points to 2,190, and the Standard & Poor's 500 Index ($INX) had added 14 points to 1,103.

Crude oil soared today on an improving economic outlook, rising $2.76 a barrel, or 3.7%, to $77.19. Gold continued its ascent, rising $10.50 to $1,115 an ounce. The yield on the benchmark 10-year Treasury ticked down 2 basis points to 3.63%.

D.R. Horton swings to profit

D.R. Horton's shares were up $1.27, or 10.7%, to $13.18 after the the nation's second-biggest homebuildler posted its first quarterly profit in nearly three years.

The Fort Worth, Texas, company said it swung to a profit of $192 million, a huge improvement from the net loss of $62.6 million it posted in the same quarter a year ago.

The stock was up $1.38, or 11.6%, to $13.29.

UPS sales slip, but Dow's revenue rises


Shares of United Parcel Service (UPS), the world's biggest package-delivery company, rose on an optimistic forecast for this year. The Atlanta company, a bellwether of consumer spending and business activity, forecast gains in package volume, pricing and profit for 2010.

"The numbers for Q4 were a little bit better than what they had previously guided, but the guidance for 2010 looks really good," Arthur Hatfield, a transportation analyst at investment bank Morgan Keegan, said in an interview on CNBC. "Overall, it looks like things are going to get a little better throughout 2010."

Dow Chemical (DOW) earned $87 million, or 8 cents per share, in the fourth quarter, a turnaround from a loss of $1.55 billion, or $1.68 per share, in the same period of 2008. Excluding special items, earnings were 18 cents a share, beating the Street by 7 cents.

Sales at Dow Chemical rose 15% to $12.5 billion, thanks in part to sustained growth in emerging regions. The company cautioned that growth in the United States and Europe will continue to lag amid high unemployment. Dow shares were off 76 cents, or 2.7 3%, to $27.87.

Tuesday, February 02, 2010

Historical Phoenix, AZ Homes Information and Links to Free MLS Searches: Mayor Phil Gordon to Discuss Historic Carbon Emission Reduction and Utility Preservation from Certified Emerald Green Phoenix Residence

Historical Phoenix, AZ Homes Information and Links to Free MLS Searches: Mayor Phil Gordon to Discuss Historic Carbon Emission Reduction and Utility Preservation from Certified Emerald Green Phoenix Residence

Monday, February 01, 2010

Mayor Phil Gordon to Discuss Historic Carbon Emission Reduction and Utility Preservation from Certified Emerald Green Phoenix Residence

- - FOR IMMEDIATE RELEASE - -

Mayor Gordon is committed to making Phoenix the first carbon neutral and sustainable city in America, and will discuss details of his plan during an open house event at a recently renovated Certified Emerald Green home in downtown Phoenix. Certification is by the National Association of Home Builders (NAHB.) Renovations improved the energy efficiency and reduced water use resulting in a 74-percent reduction in carbon emissions, a 60-percent reduction in annual electrical costs, and a 72-percent reduction in annual water costs.

Phoenix, Arizona (GreenStreet Development and DPR Realty, LLC) February 01, 2010 – Phoenix Mayor Phil Gordon will discuss the impact of carbon emission reduction realized through energy efficient renovations and neighborhood revitalization on Thursday, February 18th at 7:00 pm. The press conference and industry professional open house will take place at 1818 W. Turney Avenue in Phoenix, a very affordable single-family home which recently achieved the Emerald Green Certification.

This home is one of only two in the nation that have achieved the highest Green certification possible through the National Association of Home Builders (NAHB). Mayor Gordon says, "Phoenix has made significant strides toward reaching our goal of being the most sustainable city in America. This project is an incredible example of how we are truly building a Green Phoenix.”

Global Impact Begins with Local Solutions
While the U-S government and global leaders struggle to pass comprehensive climate and clean energy legislation inherited from previous administrations, Mayor Gordon is an advocate and proactive in his strong support of Green Home remodeling by Philip Beere, Founder of GreenStreet Development, who begun a series of Certified Green Home remodels along downtown Phoenix’s light rail.

In remodeling the 1818 W. Turney Avenue home, Green Street reduced the Home Energy Rating, a measure of the home's energy use, from 284 to 76. A Home Energy Rating compares a home to a specific benchmark, and the more energy efficient a home, the closer its rating is to 0.

The home's renovations also reduced its carbon footprint by 74- percent, its water usage by 72-percent and its electrical use by 60- percent.

According to the U-S Green Building Council (USGBC), “Single-family homes in the U.S. alone account for 21-percent of carbon emissions, 53-percent of U.S. electricity consumption, and 20-percent of water consumption.” Beere says, “If just a fraction of homes were remodeled to the NAHB standards, the U.S. would significantly reduce reliance on petroleum and save millions of gallons of water annually. This local Phoenix home is an example of how to begin.”

The GreenStreet remodel at 1818 W. Turney Ave. represents our commitment to improve Phoenix neighborhoods one home at a time and continue to reduce water and energy consumption of older houses. This is our effort to reduce carbon emissions and improve communities.”

Former NFL player and partner of GreenStreet Development, Don Odegard says, “GreenStreet remodels represent a manifestation of our values. We will never make top dollar on our investments. However, what we are doing has so much more value on a personal level. 1818 W. Turney Ave. represents our commitment to our values.”

Beere has teamed with local Realtor Laura Boyajian of DPR Realty, LLC to help promote awareness and education to industry professionals in the Phoenix market with the intention of raising awareness nationwide. Boyajian says, “It’s unprecedented. Green does not have to be more expensive. It is so exciting to help people save monthly and live healthier while also doing my part to help the environment. I’m seeing a strong increase in Buyers who are becoming more interested in purchasing green homes by utilizing Energy Efficient Mortgages (EEM’s) and tax breaks, especially in these challenging economic times.”

In an effort to influence policy and promote similar projects, Green Street also conducts monthly educational sessions for municipalities, contractors, builders, architects, and other green building advocates. Additional information about NAHBGreen and National Green Building certification is available at www.nahbgreen.org GreenStreet, www.greenstreetdev.com

About Laura B. DPR Realty, LLC and Philip Beere, GreenStreet Development: Laura Boyajian is a licensed Realtor with DPR Realty, LLC specializing in Historic Phoenix Homes and Green Homes. GreenStreet Development Founder, Philip Beere is recognized by The Phoenix Business Journal as one of the Valley’s Green Pioneers and is a champion of sustainability and an expert in green remodeling.

Contact:
Laura Boyajian, Licensed Realtor Representing Green Street Development
DPR Realty, LLC (602) 400-0008
http://www.HistoricCentralPhoenix.com

Philip Beere, Founder of GreenStreet Development
(602) 312-8376
http://www.greenstreetdev.com


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