subject: Seattle Real Estate Agent [print this page] Operating income, defined as earnings available to common shareholders before gains or losses on junior subordinated debentures carried at fair value, net of tax, bargain purchase gains on acquisitions, net of tax, merger related expenses, net of tax, and goodwill impairment, was $4.7 million, or $0.04 per diluted common share for the second quarter of 2010, compared to an operating loss of $0.7 million, or $0.01 per diluted common share, for the same period in the prior year. In fact, they were essentially flat from a year earlier. Real Estate Agent Seattle
* Interest rates remain at rock bottom. A drop was expected, with tax credits expiring and the economy continuing to wallow. * Prices didn't drop. * The percentage of distressed sales also remains flat. More information regarding this measurement and reconciliation to the comparable GAAP measurement is provided under the heading Non-GAAP Financial Measures below. So was this is small dip in an otherwise gaining market? Only time will tell but many real estate agents, investors and other financial analyst attributed the trend to primarily the expiration of the federal tax credit for first time home buyers. But that will change and sooner or later even people with solid credit scores won't be able to resist if interest rates stay below 5 percent.
It is the prism of diminished expectations, which helps any real estate market analysis these days. At 32 percent of sales, the percentage was basically unchanged from May and a year earlier. It was also the second month over month decline after seeing steady gains over the last year. While that number still needs to go down for the market to look "normal," a steady stream of distressed properties into the market is better than a thundering wave.
But these days, "not dropping" is very close to "stabilizing," which is exactly what the market needs.
How was the King County Real Estate Seattle market for home sales in June? The answer will greatly depend on which indicator you are following. The unfortunate news is that pending sales actually fell over twenty percent in the month of June from the same month last year. Real Estate Agent Seattle experts quickly pointed to a variety of factors suggesting there are tough times ahead. First-time buyer activity is almost certainly going to decline in the next few months, suggesting "a big drop in sales lies up ahead," IHS Global Insight's Patrick Newport said.
In a world of diminished expectations, there were actually a few interesting nuggets in NAR's report:
The decent news is this, that home buyers closed on nearly 2,000 homes in the Seattle Real Estate Agent market for June based on the NWMLS figures.
Even the relentlessly upbeat National Association of Realtors (NAR) couldn't put a happy face on this past week's housing report, which showed a larger than expected 5 percent drop in existing home sales from May to June. today announced second quarter 2010 net earnings available to common shareholders of $3.4 million, or $0.03 per diluted common share, compared to a net loss available to common shareholders of $107.5 million, or $1.79 per diluted common share, for the same period in the prior year.
