Pending Home Sales Fall 7.7 Percent

rccasipit 04:40:48 PM Feb 03 2009

Time for the government to scrutinize the funds that they give to the banks. I know a friend that he was diligently working a plan with the lender so he can stay with his house. Lender wouldn't negotiate because they got the funds from the bailout and eventually they will get the property too. My friend will be evicted soon and nothing happened. Even with this type of economy we're facing, banks are still arrogant. Its better that the bailout will be given to the public and let the public settle their own debts.

AJGORM 02:56:27 PM Feb 03 2009

Most homes have plummeted as much as 50 % in price. To buy and rent out the cost to maintain and rent out to renters that have a job to pay a rent you probably wont break even..So unless we get some asset protection ( loan gurantees from our gov ) on assets that dont hold their value ( houses)then we are dead in the water..If we improve what we have making America the best place to live then we hold values with lower rates where they are ..World wide housing is over priced again this will continue to be cyclical of up and downward price trends..most likely we will bounce back up to reclaim the equity lost after paying off these toxic loans then we can spend more equity and flip more homes...If you plan to buy and own and live in now is a good time to buy at rock bottom 180 k tops medium price. Then we should see more sales plus the jobs package maybe some hope soon..

Kamdajani 02:25:05 PM Feb 03 2009

COOKED MEDIA PAID BY WALL STREET CROOKS HOME PRICES PLUNGED THEY DID NOT SAY THAT FURTHER FORD SALES PLUNGED DOW CHEMICALS LOST 2 BILLION MOTOROLA 1 BILLION PNC FINANCIAL BILLIONS UPS WARNS OF NEGATIVE EARNINGS AND THE LIST GOES ON MAKE SENSE FOR WALL STREET CROOKS TO COOK THE DOW FIGURES WHAT A SCAM HOW DISGUSTING BUT EVEN SO THE DOW NEXT STOP 6000

RgKarasiewicz 01:21:36 PM Feb 03 2009

If the Washington politicians keep insisting that good paying manufacturing jobs in the United States is a relic of a gone age, they're only deluding themselves into thinking that a meaningful recovery is on the horizon. If they continue with this stance, it will take a good many years for not only the new and existing housing prices to bottom out but the Depression to end as well. So-called "Globalization" and "Information Age" that were coined by the politicians are nothing more than euphemisms for exploitation and wanton greed.

Fopdaddy1 12:14:42 PM Feb 03 2009

more self serving lies

Adinnova 12:04:34 PM Feb 03 2009

Even purchases of marked down and foreclosed homes is good news. That inventory has to be absorbed before new construction can start again. Inventory figures are the best indicator of where the market is. With 6 months or less of inventory, construction will boom.

Bech5514 12:03:59 PM Feb 03 2009

Pending is not sold. How many of these contracts went into default last year? More than went to closing. Typical realtor fluff and deceipt.

GaryRJAS 12:01:06 PM Feb 03 2009

Blah blah blah, the numbers show an improvement. Buy buy buy

Shelleyxjr22 11:58:40 AM Feb 03 2009

Its ain't a done deal until closing is over. Meantime, David is right. Between the final mortgage approval and home inspection. A lot can go wrong to kill a deal, even at the time of closing. So, as for the NAR report. I don't quite believe the accuracy and numbers. I for one know quite a few people in the Real Estate business, from Florida to Chicago. And from what I'm being told. Its not all that great. If you depend on financially surviving, just on sales commission's.

Terriecro 11:52:33 AM Feb 03 2009

Pending homes sales increase means more homes under contract without contingency. And it is not a deal until the bank funds it. There have been quite a few deals that have gone bad at the closing table as the bank recinds the financing and has the right to do so. The buyers determine the value of real estate...A property is only worth what a buyer is willing to pay for it....It was the unbridled greed of the speculators that drove up the prices in the market with the hope to get rich from a "real estate trade"...and they are learning now..you cant click a button and sell it like a stock. It never ceases to amaze me the level of ignorance of people who claim to "know" things...