Friday Facts April 13, 2012

FRIDAY FACTS

April 13, 2012

 

FROM RIS MEDIA:

  • Economists at the University of California, Los Angeles, feel that the unseasonably warm weather gave the economy a false lift in January and February and growth is expected to cool for the rest of the year.  Although GDP grew at 3% annual rate in the first quarter of 2011, they estimate that the first quarter of 2012 will come in at 2% and remain there for the rest of the year.

 

FROM THINK BIG WORK SMALL:

  • Nationally, on all our equity, we are $4 trillion underwater.  The average home LTV in the United States is now 94.3%.  We are a marginal correction away from having the average homeowner underwater.  Appraisers and underwriters have been put in a position not to allow appreciation.

 

FROM CNN MONEY:

  • Housing prices have hit a 10 year low.  Nationally, homes sold in January lost.8% of value compared with December, and prices were down 3.8% from a year ago.  Prices have fallen 34.4% from the peak in July of 2006.

 

 

FROM INTERO REAL ESTATE SERVICES – THE LUXURY INSIDER:

  • The top 250 agents in the U.S. sold over $15 billion in 2011.
  • The top agent (from New York) sold $279,841,487
  • Agent #250 sold $35,000,000
  • 60% (150) sold in California or New York
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