By John Gittelsohn
Sept. 24 (Bloomberg) -- New U.S. home sales may jump 30 percent next year, buoyed by low mortgage rates and a “greater than 50 percent probability” that Congress will extend a tax credit for first-time buyers, Goldman Sachs Group Inc. said.
New home sales in California will lead as property values rise and transactions climb to more than 525,000 nationally, analysts led by Joshua Pollard wrote in a note to investors. The firm raised its recommendation for D.R. Horton Inc., Meritage Homes Corp., Toll Brothers Inc. and M.D.C. Holdings Inc.
“Phrases like ‘the worst is well behind us’ and ‘things remain encouraging’ capture the mood of many constituents we met with on residential real estate,” Pollard said after visiting California. “The mood was much more negative on commercial real estate.”
The Mortgage Bankers Association’s index of applications to purchase or refinance a home rose 13 percent in the week ended Sept. 18. Sales of single-family new homes in July were on pace to be 433,000 this year after declining for three years, the Department of Commerce reported Aug. 26. Builders sold a record 1.28 million properties in 2005, the peak of the U.S. housing boom.
The Goldman Sachs forecast is based on the assumption Congress will extend or amend an $8,000 tax credit for first- time homebuyers that was instituted to rescue the housing market from free-fall. The credit is scheduled to expire Nov. 30.
No ‘Double-Dip’
“We give a greater than 50 percent probability of a federal tax credit extension which should allay fears of a ‘double dip’ in housing,” Pollard wrote.
Pollard added Scottsdale, Arizona-based Meritage to his “buy/attractive” list. He also rates Fort Worth-based D.R. Horton, Denver-based M.D.C. and Horsham, Pennsylvania-based Toll Brothers as “buy/attractive.
Ryland Group Inc., Hovnanian Enterprises Inc., and NVR Inc., were raised to “neutral/attractive” from “neutral.”
Meritage rose $1.29, or 6.4 percent, to $21.44 in New York Stock Exchange composite trading at 4:03 p.m. Horton fell 52 cents, or 4.2 percent, to $11.93; Toll dropped 47 cents, or 2.3 percent, to $20.21; and M.D.C. declined 96 cents, 2.6 percent to $35.62.
The 12-member Standard and Poor’s Supercomposite Homebuilding Index fell 2.8 percent. It’s up 29 percent year- to-date.
To contact the reporter on this story: John Gittelsohn in New York at johngitt@bloomberg.net.
*********************
Mobile, Alabama and the area communities of Daphne, Fairhope and Spanish Fort should have some similar good signs of improvement as we get into the second and third quarters of 2010, in the opinion of this Certified Residential Real Property Appraiser, Al Cheney, Mobile, Alabama.
Go to http://www.MobileAlabamaFHARealEstateAppraisers.com for articles, comments, opinions and other periodic information.
Wednesday, September 30, 2009
Saturday, September 19, 2009
SETTLING ESTATES HAVING REAL PROPERTY IN BALDWIN COUNTY AND MOBILE COUNTY OF ALABAMA AND THE IMPORTANCE OF APPRAISAL REPORTS
To quote an old saying, “You can’t take it with you!” Since this fact is true, a person should always consider having a Will, a Last Will and Testament, in order to lessen the complications in settling the estate for their bereaving family.
A person’s death has an affect on their family emotionally and financially as well as with any unforeseen future personal or legal issues when settling the estate. Having a Will allows the decedent, deceased person, to efficiently outline their wishes in detail and properly distributes the estate, personal property and any real property owned, at the time of their death.
Therefore, settling an estate efficiently is important and, in some cases, can be very stressful depending on its complexity and the number of heirs. As an executor, or personal representative, you have been entrusted in carrying out the decedent’s wishes as exactly outlined within the Will and as quickly as possible.
When it comes to settling an estate with real property, Al Cheney, Cheney Appraisal Services, can provide a “Certified,” detailed and timely appraisal opinion report while, at the same time, understanding the family’s bereavement and any sensitive issues associated with the decedent’s Will.
As for accountants and attorneys, they can rely on Al Cheney’s knowledge, over 30 years, in the real estate industry of the Mobile Bay Metro Area. Al Cheney always has a primary goal of providing detailed estate appraisal reports with reliable and supported derived value opinion conclusions (Fair Market Value estimates). As an Alabama Certified Residential Real Property Appraiser, Al Cheney, provides professional appraisal opinion reports which gives accountants, attorneys, and personal representatives solid facts and figures, in order to fulfill IRS and the State of Alabama requirements as well as the courts within Baldwin or Mobile County and any other local agencies.
Additionally, the date of death often differs from the date of the requested appraisal assignment. Al Cheney is familiar with the procedures and requirements necessary to perform a retroactive appraisal assignment with an effective date and a Fair Market Value opinion estimate as of the date of death.
Furthermore, contracting an appraisal assignment with Al Cheney is a fiduciary relationship ensuring the fullest degree of discretion, confidentiality binding, as outlined within the Uniform Standards of Professional Appraisal Practice (USPAP) under the ethics provision.
In conclusion, many times, people do not fully appreciate their need in having detailed real estate appraisal opinion reports which supports the facts and figures. Settling an estate efficiently, properly and timely are paramount when completing and submitting the necessary documents, including all real property appraisal reports, to the IRS, Baldwin or Mobile County courts, and other revenue authorities. Having “Certified,” detailed and professional appraisal opinion reports with supporting local marketplace information demonstrates credence and should facilitate the legal process when settling estates. Al Cheney, Cheney Appraisal Services, is ready to assist accountants, attorneys and individuals requiring estate appraisal value opinion reports!
________________________________________
Albert Marshall Cheney, Cheney Appraisal Services, Mobile, Alabama,
is ready to assist you with all your estate appraisal report requirements!
Call (251) 533-2424 today!
If you require additional estate research material, Al Cheney has provided these web links for further consideration:
Wednesday, September 2, 2009
"Spanish Fort, Alabama Is On The Move According to Certified Residential FHA Appraisers!"
Spanish Fort, Alabama continues to grow with new residential developments while maintaining its historic Southern charm. Its local people bustle from place to place, store to store, and eager to share a story, or two.
Spanish Fort is growing towards future prominence as "the major" town within Baldwin County, part of the Eastern Shore, and located only minutes from downtown Mobile by traveling west on I-10, across the "Bay-Way."
Spanish Fort has several newer residential developments, such as, "Garrison Ridge," about two years old. Most of the homes within "Garrison Ridge" have gross living areas between 3,213 square feet and 3,703 square feet, three bathrooms and four bedrooms according to online records. Building lots within this development will primarily range from $62,500 to $69,900.
"Garrison Ridge" is located about 1/2 mile north of U. S. Highway 31 and along the western side of Highway 225, near Spanish Fort's town center. "Garrison Ridge" sits on an area which once was the center of the Union lines during the Battle of Spanish Fort and one of the final battles of the American Civil War in the Spring of 1865. Before the development could begin, a team of archaeologists from the University of South Alabama spent time salvaging for information from the 57+- acre site.
The Certified Residential FHA Appraisers within Baldwin County also suggest checking into these other Spanish Fort subdivisions: Bromley Oaks, Cambron, Churchill, Delta Woods, The Hammock At Blakeley, Saluda Ridge, Spanish Fort Estates, Stillwater, Stonebrook, Tanager, Westminster Gates, Whisper Woods, and Wilkins Creek Estates.
If you require more information about Certified Residential and FHA Appraisal Reports within Spanish Fort and other communities (Daphne, Fairhope, Malbis, Montrose, Point Clear, etc.) within Baldwin County, Alabama, please contact Al Cheney at (251) 533-2424 or write to Cheney Appraisal Services, Post Office Box 7907, Spanish Fort, Alabama 36577-7907.
Also, click on this web site link, http://www.MobileAlabamaFHARealEstateAppraisers.com, for other articles and informative topics about our Mobile Bay Metro Area.
Spanish Fort is growing towards future prominence as "the major" town within Baldwin County, part of the Eastern Shore, and located only minutes from downtown Mobile by traveling west on I-10, across the "Bay-Way."
Spanish Fort has several newer residential developments, such as, "Garrison Ridge," about two years old. Most of the homes within "Garrison Ridge" have gross living areas between 3,213 square feet and 3,703 square feet, three bathrooms and four bedrooms according to online records. Building lots within this development will primarily range from $62,500 to $69,900.
"Garrison Ridge" is located about 1/2 mile north of U. S. Highway 31 and along the western side of Highway 225, near Spanish Fort's town center. "Garrison Ridge" sits on an area which once was the center of the Union lines during the Battle of Spanish Fort and one of the final battles of the American Civil War in the Spring of 1865. Before the development could begin, a team of archaeologists from the University of South Alabama spent time salvaging for information from the 57+- acre site.
The Certified Residential FHA Appraisers within Baldwin County also suggest checking into these other Spanish Fort subdivisions: Bromley Oaks, Cambron, Churchill, Delta Woods, The Hammock At Blakeley, Saluda Ridge, Spanish Fort Estates, Stillwater, Stonebrook, Tanager, Westminster Gates, Whisper Woods, and Wilkins Creek Estates.
If you require more information about Certified Residential and FHA Appraisal Reports within Spanish Fort and other communities (Daphne, Fairhope, Malbis, Montrose, Point Clear, etc.) within Baldwin County, Alabama, please contact Al Cheney at (251) 533-2424 or write to Cheney Appraisal Services, Post Office Box 7907, Spanish Fort, Alabama 36577-7907.
Also, click on this web site link, http://www.MobileAlabamaFHARealEstateAppraisers.com, for other articles and informative topics about our Mobile Bay Metro Area.
Subscribe to:
Posts (Atom)
