Tuesday, May 31, 2011

June, 2011 Calendar at Fleet Science Center + Dads Free on Father's Day Weekend

Reuben H. Fleet Science Center RHFleet eUpdate
Your Guide to the Fleet
JUNE 2011
Reuben H. Fleet Science Center
June: Identity & Geometry Playground
"Geometry Playground" Opens June 11
Geometry Playground Throw your entire body into a whimsical exploration of math at the new "Geometry Playground" exhibition. Fun, hands-on exhibits will have you playing a goofy game of hopscotch, climbing a structure of giant multi-sided blocks, crawling through corkscrew tunnels and creating geometric works of art, all while exploring the patterns, angles, arcs and shapes that make up the most visible branch of math. More>>

Father's Day Weekend - Dads Visit for FREE! 

Father's Day Together with your Dad, check out the new exhibition "Geometry Playground" where you can challenge each other to a whacky game of hopscotch! Or put your engineering skills to the test and build something together in "Block Busters!" Dads receive free gallery admission Saturday, June 18 or Sunday, June 19 with the purchase of one full-price gallery admission ticket on the same day. You can also add on an IMAX film for just $4.50/adult and $3/child/senior. Paid admission may be Adult, Junior or Senior. No other discounts accepted. Purchase at the ticket counter. More>>

Saturday, June 18 - Sunday, June 19


"Identity: An Exhibition of You" Opens June 25

IdentityHair color, sense of humor, friends - what are we made of? Find out at the new "Identity" exhibition as you explore your unique physical, psychological and social self with a series of unique interactive experiences. Take a spin on the "Who Shares Your Skin" wheel to see who else in the world shares your skin color. Explore how smells can tell you something about yourself, or "hear" your personality in a musical art piece. These and many more hands-on experiences will be on display at the Fleet during the "Identity" run June 25 - September 25, 2011. More>>

June IMAX® Films  

June IMAX moviesVisit the Fleet to take in three exciting IMAX® films in June. Follow storm-chasing scientists and IMAX film maker Sean Casey in the action-packed and adrenaline-filled adventure TORNADO ALLEY. Meet adorable baby orangutans and elephants, and the people who care for them, in the heart-warming story BORN TO BE WILD. Join astronauts on the final mission to service the Hubble Space Telescope and glimpse unparalleled views of Earth's celestial neighborhood and extraordinary images of galaxies billions of light years away in HUBBLE. More>>

Green Day

electric car Become a green engineer at the Fleet's 4th annual family "Green Day" celebration. Design, build and take home your own solar-powered car. Learn about renewable energy and water conservation at the "So WATT" and "San Diego's Water: From Source to Tap" exhibitions. More>>

 Saturday, June 25
11:00 a.m. - 3:00 p.m.


Summer Camps Still Open for Registration  

Summer campsThere's still time to register your kids for a week, or more, of scientific exploration and hands-on fun! Half-day summer camps begin June 27 and run through August 26. Camps still open for registration include "Hobby Shop," "Rock Hounds" and more! To register, call (619) 238-1233 ext. 806 or click here. More>>

Registration Fees: $80 members; $90 non-members per week.


Family Science Saturday: "Sound Science"   

Sound Science activity Every Saturday in June, kids can blast into the Fleet's Discovery Lab to find out how sound is created and how it travels! Special activities are $2 with admission. ScholarShare College Savings Plan is a proud sponsor of Family Science Saturdays at the Fleet. More>>

Saturdays in June from 1:00 - 3:00 p.m.
Scholar Share logo


Father's Day Gift Membership - Discounted for Current Members!   

Membership faces icon

Membership makes the perfect Father's Day gift. If you are a current member, you can purchase Family memberships for only $64  ($15 off the regular price). Memberships are the perfect gift for graduation, birthdays or any occasion at all!

 

Three convenient ways to purchase a gift: 

1. In Person: any Ticket Counter cashier can help you

2. By phone: call (619) 238-1233, ext. 713, Monday - Friday during business hours
3. By mail: print out this application and mail it in

Discounted gift memberships are one more reason that the Fleet membership is a great value all year long! Not a member yet? Click here. Or call the Membership Office at (619) 238-1233, ext. 713.

*Reminder: always exchange your member IMAX vouchers at the Ticket Counter before you line up at the theater.


This Month's Experiment: Color Magic
June TMEWATCH THE VIDEO
INSTRUCTIONS (PDF)

Watch the Fleet's June edition of This Month's Experiment to discover the hidden colors in a marker! You won't believe your eyes as a black line explodes into a rainbow of color! DO try this at home!

 


San Diego Arts and culture
LEED certification logo
IMAX logo
Quick Links
June Events
1
The Sky Tonight Planetarium Show
1 Exploring Ethics Lecture
4 Sound Science
6 Senior Monday: "Decoding Depression"
7 Free Tuesday
11 Saturday Science Club for Girls: "Amusement Park Physics"
11 Sound Science
18
Sound Science
19 IMAX en EspaƱol: TORNADO ALLEY
25 Green Day
25 Sound Science
27
Summer Camps Begin
IMAX Films
Tornado Alley
TORNADO ALLEY

Born to be Wild
BORN TO BE WILD

HUBBLE POSTER
HUBBLE

Fridays at the Fleet
See "classic" and current IMAX films at 6, 7 & 8 p.m. every Friday night! Only $8.50 for one film and $5 for each additional film.
JUNE  SCHEDULE:
6PM:  BORN TO BE WILD
7PM:  TORNADO ALLEY
8PM:  BEARS
Enter to Win
Congratulations to Pat Graniel, winner of a family 4-pack of IMAX tickets to the new film BORN TO BE WILD.

This month, it could be YOUR turn to win! Enter to win 2 passes to visit the Mingei International Museum.

Mingei Internatinal Museum 


To enter, please complete this form by June 15, 2011.
Connect With Us

Posted via email from RealtorPeg

San Diego June, 2011 Things To Do


June 3 thru 5, Wings over Gillespie
The air show will feature many famous legendary aircraft such as the B-17 Flying Fortress and B-25 Mitchell bombers, Northrop N9M Flying Wing, and many more “Flying Museums.” Also on hand will be USN/USMC helicopters and other static displays, special military and law enforcement vehicles and equipment, a NASA display, and much more.

Time:  8:00 am - 5:00 pm
Location:  Gillespie Field (Near I-8 and Rte 67), 1960 Joe Crosson Road, El Cajon
For more information visit www.wingsovergillespie.com


June 3 thru 5, 28th Annual Temecula Valley Balloon and Wine Festival
This event includes a food court, wine tasting in the wine gardens, musical entertainment,
kids fair, arts & crafts and commercial booths.

Time:  Fri., 5:00 pm - 10:00 pm, Sat., 6:00 am - 10:00 pm, Sun., 6:00 am to 6:00 pm
Location:  Lake Skinner - Temecula Valley, 37701 Warren Rd., Winchester
For more information call 951-676-6713, or visit www.tvbwf.com


June 3 thru 5, St. Spyridon Church Greek Festival
This Annual Greek festival offers tours of the St. Spyridon Church, Greek food, and imported beer. Join in and dance Greek-style while lively Greek music plays. Games for kids & prize drawings.

Time:  Fri., 5:00 pm - 10:00 pm, Sat., 11:00 am - 10:00 pm, Sun., 11:00 am - 9:00 pm
Location:  St. Spyridon Greek Orthodox Church, 3655 Park Blvd., San Diego
For more information call 619-297-4165, or visit www.sdgreekfestival.com


June 4, 8th Annual Art Around Adams
This art and music fest will raise funds and bring awareness for the Adams Recreation Center that provides services for the community. Relax, shop, and be entertained by live music, outrageous street performers, and an array of unique art.

Time:  3:00 pm - 10:00 pm
Location:  Normal Heights & Kensington
For more information visit www.artaroundadams.org


June 4, 4th Annual Carlsbad Beach Fest 2011
Come participate in the Low Tide Beach Run Blast, the Low Tide Beach Walk, and/or the Kids One Mile Fun Run. Check out the gigantic sand sculpting by U.S. Open Champions, Archisand. There will be multiple stages with bands & other live entertainment, sports competitions and clinics in paddle board, surfing, kayaking, and more! Don’t miss the artist’s exhibits, kids sand sculpting, face painting, kite flying, celebrity appearances, food & beverage vendors, and so much more.

Time:  8:00 am - 3:00 pm
Location:  Carlsbad State Beaches, From Frazee Beach to Tamarack Beach
For more information visit www.carlsbadbeachfest.com


June 4 & 5, Annual Fiesta del Sol - Solana Beach
Celebrate the start of summer at this free two-day party featuring live music, an international food court, beer & wine garden, children’s activities, arts & crafts, and a “Green Alley” featuring environmentally-friendly products and services.

Time:  9:00 am - 5:00 pm
Location:  Fletcher Cove - Solana Beach
For more information call 858-755-4775, or visit www.solanabeachchamber.com


June 5, San Diego Rock n’ Roll Marathon
One of the nation’s premier marathons! Local bands on 26 stages and cheerleading groups will entertain the athletes as they travel along a scenic course through the city of San Diego. There will be a Finish Line Festival with music, food & beverages. This event is in conjunction with the “Rock n’ Roll Half Marathon”. See website for details & fees.

Time:  6:10 am - 4:00 pm
Route:  Visit website for route details.
For more information call 858-450-6510, or visit www.san-diego.competitor.com


June 10 thru July 4, San Diego County Fair
San Diego’s annual county fair boasts flower and garden shows, exhibits, art, gems & minerals, carnival rides, food booths, midway, concerts, and so much more! This year’s theme will be “Race to the Fair.”

Time:  Refer to website
Location:  Del Mar Fairgrounds, 2260 Jimmy Durante Blvd.
For more information call 858-793-5555, or visit www.delmarfairgrounds.com


June 11, Rock, Blues & BBQ Festival
The 3rd Classic Rock n’ Blues Festival is presented by the City of San Marcos. Spend a day relaxing in the park listening to the unique sounds of several great bands. Food will be sold at an onsite barbecue with partial proceeds donated to Angel’s Depot. There will be a beer garden for those 21 and over. Bring beach chairs or blankets for lawn seating.

Time:  12:00 pm - 8:00 pm
Location:  San Marcos - Walnut Grove Park, 1950 Sycamore Dr.
For more information call the Race Office 760-744-9000, or visit www.san-marcos.net


June 11, 3rd Annual Fiesta Metric Century Bicycle Ride
Participate in a recreational group ride for cyclists that begin in downtown San Diego and travels to Otay Lake. Upon returning, the cyclists can enjoy an expo with musical entertainment, shop for bike related merchandise, and have a delicious Mexican buffet. Refer to website for fees.

Time:  6:30 am - 2:00 pm
Route:  County Administration Building Parking lot at 1600 Pacific Hwy > Ash St > Harbor Dr > National City >
Chula Vista > Otay Lakes > then back to the Admin Building.
For more information visit www.shadowtour.com


June 17 & 18,  Powwow By The Sea
A traditional powwow at the beach! The 8th annual family oriented Powwow By The Sea will host
a Gourd Dance, an Iron Dancer contest, Hand Drum contest, Tiny Tot contest, and Grassdancer contest.

Time:  Fri., 11:00 am – Dusk / Sat., 11:00 am - 7:00 pm
Location:  Portwood Pier Plaza, 874 Seacoast Dr., Imperial Beach
For more information visit www.oneworldbridge.org


June 18,  Set Free North Park Outreach
Community outreach event presents a car and motorcycle show where lowriders, bombers, and choppers will be displayed. The event takes place in a family-friendly atmosphere where you can enjoy raffle drawings, activities, and inspiring music. Free event.

Time:  11:00 am - 4:00 pm
Location:  North Park Recreation Center, 4044 Idaho St.
For more information call 619-647-4344


June 18, Pet Fest & Doggie Dash
Third Avenue Village is going to the dogs! The 1-mile doggie dash helps raise money for local animal organizations, Chula Vista Animal Care Facility, and the Chula Vista Nature Center. There will also be pet-related vendors, demonstrations from the Chula Vista K-9 unit, puppy training specialists entertain and educate, pet contests, pet adoptions, spay and neutering services.

Time:  Refer to website
Location:  Memorial Park Bowl, Chula Vista Third Avenue Village
For more information visit www.thirdavenuevillage.com


June 18 & 19,  Julian Gold Rush Days
Julian’s Gold Rush Days is a period of remembrance of the gold rush of 1869 that brought the town of Julian to existence. Three days of events including gold panning, living history demonstrations, gold mine tours, book signings, face painting, old fashioned games, historic skits, and more!

Time:  Refer to website
Location:  Julian, CA
For more information visit www.juliangoldrushdays.com


June 18 & 19,  Family Campout - Poway
Perfect for the first-time camper! Activities include a fun interpretive program, free pedal boating and night hikes. Families will need to bring their own camping supplies and food to barbecue. There will be grills available, but you are encouraged to bring your own. Campsite setup: 7:00 am. Costs: $52 Residents / $62 Non-Residents, up to 5 persons per family. $10 for each additional family member. No alcohol permitted.

Time:  5:00 pm - 9:00 am (overnight)
Location:  Lake Poway, 14644 Lake Poway Rd.
For more information call 858-668-4772, or visit www.poway.org


June 25, 32nd Annual Ocean Beach Street Fair & Chili Cook-off
Ocean Beach’s very own beach festival and amateur chili cook-off contest. 
Highlights include live entertainment, an artist alley, vendor booths, beachside beer garden,
Kiddie area and more. Free event.

Time: 10:00 am - 8:00 pm
Location:  Ocean Beach, Newport Avenue (4800-5000 Block & surrounding areas)
For more information call 619-224-4906, or visit www.oceanbeachsandiego.com/ob-street-fair


June 24 thru 26,  Temecula Street Painting Festival
Watch artists create colorful “street murals” on the asphalt of 6th Street in Old Town Temecula.
Plein Air artists will be painting in locations throughout Old Town on Friday and Saturday.
Street painting and live music on Saturday & Sunday. A free event.

Time:  Sat., 10:00 am - 6:00 pm / Sun., 10:00 am - 5:00 pm
Location:  Old Town Temecula
For more information call 951-506-5100, or visit www.cityoftemecula.org


courtesy of:  ivansolis.lticsd.com

Posted via email from RealtorPeg

Luxury Home Values Decline in First Quarter of 2011 Prices Fall In Los Angeles, San Diego and San Francisco

SAN FRANCISCO, May 23, 2011 (BUSINESS WIRE) -- Luxury home values dropped in Los Angeles, San Diego and San Francisco in the first quarter of 2011 compared to the fourth quarter of 2010, according to the First Republic Prestige Home Index(TM) by First Republic Bank, a leading provider of private banking, private business banking and wealth management services.

In the quarter ended March 31, 2011, the Index indicated the following: -- Los Angeles area values dipped 0.5% from the fourth quarter of 2010 and slid 0.9% from a year ago. The average luxury home in Los Angeles is now $1.96 million.

-- San Diego area values fell 4.6% from the fourth quarter and decreased 5.1% year-over-year. The average luxury home in San Diego is now $1.63 million.

-- San Francisco Bay Area values lost 4.3% from the fourth quarter and were 1.9% lower compared to a year ago. The average luxury home in San Francisco is now $2.49 million.

"Luxury home prices fell in the first quarter of 2011 in all three of California's major metropolitan centers," said Katherine August-deWilde, President and Chief Operating Officer of First Republic Bank. "The market gains of the fourth quarter of 2010 reversed in the first quarter of this year. Prices fell as sales activity declined. The combination of low interest rates and lower prices have made luxury homes in California's major metropolitan regions increasingly affordable." First Republic Bank produces the Prestige Home Index each quarter with Fiserv CSW Inc., a leading provider of automated property valuation services and home price metrics to U.S. financial institutions. Historical results of the Index, which has tracked luxury homes since 1985, are accessible at www.firstrepublic.com. First Republic Bank is an active lender in the luxury home market for both primary residences and vacation homes.

Los Angeles Area Values After rising in the final two quarters of 2010, luxury home prices in Los Angeles went down in the first quarter of 2011.

However, agents said the ultra high end and beach communities were largely retaining their value. "In Los Angeles, there have been 20 closed home sales over $10 million year-to-date," said Lisa Platt of Coldwell Banker in Beverly Hills. "That was the same number as last year at this time. There are a lot of all-cash buyers. People are also trying to capitalize on lower interest rates.

Shrewd investors see this is as a good time to get into the market." Agents agreed that cash deals were on the rise. "Most of the largest transactions are all cash or almost all cash," said Bennett Carr of Sotheby's International Realty in Beverly Hills. "They are buying more house and a better house at a lower price," Carr said. "This is really a two-part market. The very best properties are holding their value very well. To the extent a property isn't the best product, prices are softening. It is also interesting to note that we are seeing more international investors than ever before." In ocean communities, quality neighborhoods were experiencing active interest among buyers. "Demand for property has outstripped the inventory, even though inventory is higher," said John Capellaro of Coldwell Banker in Manhattan Beach.

"When the right kind of property comes onto the market, there are often multiple offers." San Diego Area Values After rising in the fourth quarter of 2010, values in the San Diego area fell in the first quarter to their lowest point since the first quarter of 2004. The average price of a luxury home was then $1.63 million.

Agents in San Diego said a lack of demand was pushing prices lower. "We still have a lot of inventory in the upper prices points," said Michael Taylor of Prudential California Realty in Rancho Santa Fe. "Whenever that happens, you have downward pressure. The good news is that we're a whole lot closer to inventory equilibrium. Under $3 million, we're close to equilibrium. Above $4 million, we're still not there yet." Maxine Gellens of Prudential California Realty in La Jolla agreed. "The market over $3 million is very slow. There was only one sale in La Jolla over the past eight months. People seem to be scaling down, no matter who they are." San Francisco Bay Area Values San Francisco Bay Area values in the first quarter fell to their lowest point since the first quarter of 2004, when the average price of a luxury home was $2.39 million.

"We weren't surprised that the first quarter was sleepy," said Stephen Gomez of Gomez & Patton Real Estate in San Francisco. "First quarter sales reflected the price discounting that took place in the second half of 2010. Normally, it's a sellers' market in San Francisco, but we had a buyers' market in final two quarters of last year. Now we're starting to see the window to the buyer's market close." On the tech-heavy San Francisco Peninsula, where the economy is stronger, interest was picking up. "I see tons of buyers with money, but inventory is the issue more than anything else," said Geoffrey Nelson of McGuire Real Estate in Burlingame. "We recently had three sales over $5 million. It is probably a better market than sellers think." In the East Bay, buyers were also hesitant to make offers. "There are actually a few buyers out there, but they are unwilling to commit," said Sharon Dare of J.

Rockcliff Realtors in Danville. "That drags down prices. If someone really does want to sell a home, the price is typically lowered." About The First Republic Prestige Home Index The First Republic Prestige Home Index(TM) is the first statistical model of its kind customized to measure changes in homes valued at more than $1 million in key California urban markets. Some common features of luxury homes in the Index: 3,000 to 6,000 square feet, three to six bedrooms, and three to six bathrooms.

San Francisco Bay Area properties include a cross-section of luxury homes in Alamo, Atherton, Belvedere, Danville, Healdsburg, Hillsborough, Lafayette, Los Altos, Los Gatos, Mill Valley, Moraga, Orinda, Palo Alto, Piedmont, Portola Valley, Ross, St. Helena, San Francisco, Saratoga, Sonoma, Tiburon and Woodside.

Properties in Los Angeles represent a cross-section of luxury homes in Arcadia, Beverly Hills, Calabasas, La Canada Flintridge, Encino, Los Angeles, Malibu, Marina del Rey, North Hollywood, Pacific Palisades, Pasadena, Playa del Rey, Santa Monica, Studio City and the West Los Angeles enclaves of Bel Air, Brentwood and Westwood. San Diego properties represent a cross-section of luxury homes in Carlsbad, Coronado, Del Mar, Encinitas, La Jolla, La Mesa, Poway, Rancho Santa Fe, San Diego and Solana Beach. In producing the Index, Fiserv CSW Inc. draws upon its economic database and years of experience in tracking single-family home values; collects and cross-checks data from multiple sources; achieves a weighted balance of validation elements such as repeat sales, comparable sales, and physical home characteristics; and combines this with First Republic's extensive local market knowledge.

Posted via email from RealtorPeg

Monday, May 30, 2011

San Diego A Top Turnaround Town

San Diego:
San Diego
A four bedroom in sunny San Diego for $785,000. For further information: Trulia

Median home price: $385,000
1-Year change through 2010: 1.6%
Move.com, which runs the Realtor.com website, has identified the 10 top metro areas where it thinks housing markets have started down the road to recovery. Move.com, with a database of homes for sale all over the United States, looked at several factors.

One is changes in asking prices, which reveals seller confidence (or lack thereof). Then there's the time homes are sitting on market, which shows how fast homes are selling. Move.com also looked at how often prospective buyers were logging on to Realtor.com.

One example of a turnaround town is San Diego. Like the rest of the coastal California housing markets, it went through some post-bubble hard times, with high foreclosure rates and a big dip in home prices. They fell about 40% from their boom highs.

Now, with mortgage related foreclosures pretty much cleaned out of the system, the city has begun a recovery; it has been on the comeback trail for more than a year. Its prices rose 1.6% in 2010, according to Fiserv.

Move expects the recovery to strengthen. Sales have gotten brisker and inventory lasts on the market only a median of 79 days, about half the national median. Sellers have noticed the improvement and raised their asking prices 1.4% in March, compared with a month earlier.

Posted via email from RealtorPeg

Wednesday, May 25, 2011

First-Quarter Data Show Consumer Distress Beginning to Ease- Real Estate Recovery

The nonprofit counseling agency CredAbility released the results of its first-quarter Consumer Distress Index Thursday.

While the average U.S. household is still in financial distress, and has been for 10 consecutive quarters, the agency says the index has hit its highest score in two and a half years, signaling the level of distress is beginning to ease.

CredAbility’s index is a quarterly measure that tracks the financial condition of the average American. For the first three months of this year, U.S. households scored a 68.15 on the agency’s 100-point scale. That’s up from 67.2 in the fourth quarter of 2010. A score below 70 indicates a state of financial distress.

CredAbility attributed the positive movement to the fact that employment levels rose and consumers now have a better handle on managing household budgets. On the flip side, the score dropped in the housing category, reflecting minimal improvements in mortgage delinquencies.

The index measures financial health in five categories: employment, housing, credit, household budgets, and net worth. Housing is the only one of the five gauges that continues to deteriorate.

Even with housing woes weighing heavy on American’s fiscal wellbeing, CredAbility says overall, the financial picture for U.S. households improved in 2011’s first quarter.

“I believe a new trend is emerging,” said Mark Cole, COO of the Atlanta-based counseling organization. “Our index has increased by four points in the last five quarters, an indication that the average U.S. household is getting financially healthier [and] that the majority of consumers are on the right track.”

The index also measures the financial distress level of all 50 states and the District of Columbia.

Among individual states, Nevada had the lowest score at 60.8, followed by Georgia, Michigan, Florida, and Arizona – all states continuing to suffer from severe unemployment and housing problems.

CredAbility noted, however, that its latest results marked the first time in the past seven quarters that Nevada has scored above 60.

California, the nation’s most populous state, raised its score for the sixth consecutive quarter to 65.19. The state now ranks 11th among the most distressed states.

North Dakota and South Dakota continue to have the highest scores of all the states, at 82.35 and 81.23 respectively

Posted via email from RealtorPeg

Tuesday, May 24, 2011

Significant Declines Seen in Late-Stage Delinquencies and Foreclosures

Industry data released Thursday shows a sharp drop in the percentage of home loans 90 or more days past due or in foreclosure — signs of a mortgage market that is on the mend, according to officials at the Mortgage Bankers Association (MBA).

MBA reported that the share of mortgages at least 90 days delinquent but not yet in foreclosure dropped from 3.9 percent in the fourth quarter of last year to 3.5 percent in the first quarter of this year. Loans in this bucket have now dropped for five straight quarters and are at their lowest level since the beginning of 2009.

At the same time, loans in foreclosure fell from 4.64 percent to 4.52, according to MBA’s first-quarter delinquency survey. Jay Brinkmann, MBA’s chief economist says it’s “one of the largest drops we have ever seen.”

The percentage of loans on which foreclosure actions were started during the first quarter fell to a two-year low of 1.08 percent, and had the second largest quarter-over-quarter drop ever recorded by MBA.

Paul Dales, senior U.S. economist for the research firm Capital Economics says since the crisis hit a decline in the foreclosure start rate has typically been explained as lenders struggling to cope with the sheer volume of defaults. But with the share of mortgages that were more than 90 days in arrears but not yet in foreclosure also falling in the first quarter, “the declines in the new foreclosure and foreclosure inventory rates appear to be genuine improvements,” he said.

Altogether, the serious delinquency rate – comprised of loans that are 90 days or more past due and those in the process of foreclosure – is down 50 basis points from the previous quarter and down 144 basis points from a year ago, MBA reported.

Brinkmann says of particular importance is that the drop in the serious delinquency rate was driven by improving numbers for loans originated between 2005 and 2007.

“These are the loans that drove the mortgage market collapse and now represent about 31 percent of loans outstanding but 65 percent of the loans seriously delinquent,” Brinkmann said.

“Given that loans originated during this period are now past the point where loans normally default, and that loans originated since then generally have better credit quality, mortgage performance should continue to improve,” according to Brinkmann.

The share of mortgages behind by just one payment during the first quarter edged up to 3.35 percent from 3.26 percent at the end of 2010.

Dales said this development is “worrying” considering the recent increases in employment, but Brinkmann stressed that short-term delinquencies remain at pre-recession levels.

The combined percentage of loans in the U.S. that were foreclosure or at least one payment past due stood at 12.31 percent as of the end of March, according to MBA’s report. Brinkmann says, however, that national statistics are “somewhat meaningless” because local market conditions determine values and peoples’ perception of conditions.

Looking at more localized state-specific data, Brinkmann points to Florida as “a problem.” Twenty-four percent of all mortgages in the country that are in foreclosure are in Florida. Brinkmann says the number of loans in foreclosure in the Sunshine State is actually larger than the total number of loans in 22 other states, illustrating the outsized impact such hard-hit states are having on the national numbers.

Five states account for over half of the loans in foreclosure in the country: Florida (24%), California (11%), Illinois (6%), New York (5%), and New Jersey (5%).

In addition, Brinkmann says the increasing divergence in market recovery attributed to differences in states’ laws should be noted.

The states with the biggest increases in the number of loans in foreclosure are Florida, New Jersey, and Illinois (all judicial states). Those with the largest decreases in loans in foreclosure were the non-judicial states of California, Arizona, and Michigan.

All of these six states had declines in loans 90 days or more past due and in the rate of new foreclosures started. But Brinkmann says what differentiates the foreclosure inventory trajectories is that the states with a judicial process increases the number of loans that sit in foreclosure for extended periods and adds to the high levels of housing inventory overhang in those states.

 

Posted via email from RealtorPeg

Monday, May 23, 2011

REOs and Short Sales Slip to 37% of April's Existing-Home Sales Volume

Sales of previously owned homes fell back 0.8 percent in April, according to a new report from the National Association of Realtors (NAR).

The share of distressed homes – bank-owned properties and pre-foreclosure short sales — also dropped last month, accounting for 37 percent of total sales volume, down from 40 percent in March and an average of 39 percent over the first quarter.

The trade group says an uneven recovery should be expected and notes that existing-home sales have risen in six of the last nine months.

The April decline brought the annual sales pace for pre-owned homes down to 5.05 million, compared to 5.09 million in March.

Existing-home sales are 12.9 percent below the 5.80 million pace recorded in April 2010, but NAR pointed out that sales surged during April and May of last year in response to the homebuyer tax credit, which skews the year-over-year comparison.

Still, Lawrence Yun, NAR’s chief economist, says the market is underperforming.

“Given the great affordability conditions, job creation, and pent-up demand, home sales should be stronger,” he said.

Realtors in the field say April’s existing-home sales numbers are being impacted by appraisal issues.

A parallel NAR practitioner survey shows 11 percent of Realtors report a contract was cancelled last month because the appraisal came in below the price negotiated between buyer and seller. Ten percent had a contract delayed and 14 percent said a contract was renegotiated to a lower sales price as a result of a low appraisal.

“[E]xisting guidelines from Freddie Mac and Fannie Mae must be fully implemented so all appraisals are done by valuators with local expertise,” said Ron Phipps, president of NAR.

Yun says tight credit is also restraining the market. “Although sales are clearly up from the cyclical lows of last summer, home sales are being held back 15 to 20 percent due to the very restrictive loan underwriting standards,” he said.

According to NAR’s latest report, all-cash transactions stood at 31 percent in April, down from a record level of 35 percent in March. They were 26 percent in March 2010. Investors account for the bulk of cash purchases.

The trade group’s study shows that the national median existing-home price for all housing types was $163,700 in April, up from $159,600 in March – likely the result of fewer distressed property transactions.

“Home values, despite month-to-month volatility, have been remarkably stable in the range of $160,000 to $170,000 for the past three years,” Yun said. “Stable home prices in turn will steadily lower loan default rates, including strategic defaults.”

Total housing inventory at the end of April increased 9.9 percent to 3.87 million existing homes available for sale, which represents a 9.2-month supply at the current sales pace. That’s up from an 8.3-month supply in March.

 

Posted via email from RealtorPeg

Unbelievable Cat-friendly House Design from Japan

I think I’m going to have a heart attack, this is the coolest thing I have ever seen! As you may be aware, the Japanese treat their pets like children, and since they are also masters of good design, it’s no surprise that some Japanese housing builders are now designing homes with special features for pets. These amazing images are from Asahi Kasei’s Plus-Nyan house. Obviously a great deal of research went into the design of these beautiful spaces, from the perspective of both the cats and the homeowners.

Features include open air cat walks, climbing steps, nooks throughout the house for cat hide-outs, cat doors in every door, extra space in the bathroom designed especially for a litter box, an enclosed deck area, and special fences to prevent cats from escaping.

They have even gone so far as to use pet-friendly construction materials that resist scratching and are easy to clean.

Thank you to Sachie at My Cat Goma for finding this and for translating the Japanese descriptions for us!

I want to live in Japan!

courtesy of:  http://www.moderncat.net

Posted via email from RealtorPeg

Another Amazing Cat-friendly House Design from Japan

The Cats' House

I definitely need to live in Japan. Perhaps you remember the unbelievable cat-friendly house from Japan that I posted last year. Well, here is another one that may be even more incredible. The Cats’ House designed by Japanese architecture firm Fauna +DeSIGN was built for the owners 16 cats (and 5 canines). It has every kind of climbing and perching structure a feline family could ever dream of, all integrated beautifully into a modern interior.

The Cats' House

There appears to be great attention to detail throughout the house. Notice the rounded corners on the climbing shelves. Much safer for cats than sharp pointed corners.

The Cats' House

There are even access areas for humans to make it easier to clean the upper perching areas.

The Cats' House

Lots of natural light gives the space a wonderful open feel. This handsome silver tabby is certainly enjoying himself!

The Cats' House

Catwalks and shelves galore along with secret tunnels and passageways just for cats.

The Cats' House

The Cats' House

This giant floor-to-ceiling sisal-wrapped scratching and climbing post has got to by my favorite feature.

The Cats' House

This amazing house was recently filmed for an upcoming show on Animal Planet. There are many more photos at www.catshouse.jp as well as some videos of the cats enjoying their home.

Thank goodness that Goma’s mom Sachie understands Japanese, because she keeps finding these incredible things! Thanks, Sachie!

courtesy of:  http://www.moderncat.net

Posted via email from RealtorPeg