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