Week in Review/TAXES How does your state compare?

 

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I offer my opponents a bargain: if they will stop telling lies about us,

I will stop telling the truth about them.

 

SEE IT ALL:   Facts & Figures 2016 How Does Your State Compare

 

Volume 22, Number 8 Economic Highlights for the Week Ending February 26, 2016
MONDAY, February 22nd
The S&P/Case-Shiller 20-city home price index rose 0.8% in December from November on a seasonally adjusted basis and is now up5.7% from December 2014 on an annual basis. House prices continue to rise at a sustainable pace that slowed marginally in December. All 20 cities tracked by this index showed annual price gains. The strongest house price appreciation was in Portland at 11.4%, San Francisco at 10.3% and Denver with 10.2%. S&P Dow Jones Indices reports ?Continued increases in prices of existing homes, as shown in the S&P/Case-Shiller Home Price Indices, should encourage further activity in new construction. Total housing starts have stayed above an annual rate of one million starts per year since last March and single family home have been higher than 700,000 units at annual rates since June. Housing investment continues its positive contribution to GDP growth.?
TUESDAY, February 23rd
The Conference Board?s consumer confidence index slipped to 92.2 in February from a downwardly revised reading of 97.8 in January. Both sub-components, the present situation index and the expectations index, were lower on the month however; the present situation index remains well above 100 suggesting the economy will continue to expand at a moderate pace in the near term. Consumers lowered assessments of the labor market as well. Fewer consumers indicated ?jobs are plentiful? and more consumers indicated that ?jobs are hard to get.? Rattled by financial market turmoil recently, consumers? short-term outlook grew more pessimistic this month.
Existing home sales edged higher in January, gaining 0.4% to an annualized pace of 5.47 million. Existing home sales are now 11.0% higher than their January 2015 level. Regionally, sales were mixed with modest monthly gains in the Northeast and Midwest and modest monthly declines in the South and the West. The inventory of homes available for sale increased 3.4% on the month to 1.82 million which represents a 4.0 month-supply at the current sales pace. Such low inventory levels pushed prices higher. The median price for an existing home was up 8.2% in January from January one year ago to $213,800. Overall, existing-home sales are trending upward and are now above their pre-housing bubble average, pointing toward a continued housing market expansion.
WEDNESDAY, February 24th
The MBA mortgage applications index fell 4.3% for the week ending February 19. The decline was led by a 7.7% drop in the refinance index last week; the purchase index gained 2.2%. Boosted by lower interest rates, purchase applications for home mortgages have been very strong this year, up 27% so far. Refinancing applications have also been very strong despite the decline last week. Contract mortgage rates moved higher last week with the 30-year fixed rate up 2 bps to 3.85%.
New home sales declined 9.2% in January to an annualized pace of 494k, after a gain of 8.2% in December to an annual rate of 544k. New home sales came in below expectations last month, are trending lower and are now 5.2% below January 2015. Regionally, new home sales were modestly higher in the Northeast and South; the Midwest fell moderately while an outsized 32.1% decline in the West led the overall drop. The inventory of new homes available for sale increased to 238k in January which represents a 5.8 month?s supply at the current sales pace. Still, inventories remain at historically low levels. Median new home prices moved lower in January from January one year ago with the median price for a new home down 4.5% on the year to $278,800. Despite the pullback last month, the outlook remains positive for continued expansion in both new construction activity and new home sales going forward.
THURSDAY, February 25th
Jobless claims rose 10k to 272k for the week ending February 20. Despite the gain, initial claims remain historically low so the February employment report should make a good showing in the coming week.
FRIDAY, February 26th
Stock Market Close for the Week
Index Latest A Week Ago Change
DJIA 16639.97 16391.99 +247.98 or +1.51%
NASDAQ 4590.47 4504.43 +86.04 or +1.91%
WEEK IN ADVANCE
February employment should be in excess of 200k with a continued low unemployment rate. Incoming data will also inform on housing, manufacturing and services. Even good data prints may not thoroughly quell current concerns about first quarter economic growth.
Key Interest Rates Latest 6 Mos Ago 1 Yr Ago
Prime Rate 3.50 3.25 3.25
Fed Discount 1.00 0.75 0.75
Fed Funds 0.40 0.15 0.12
11th District COF 0.655 0.659 0.692
10-Year Note 1.76 2.14 2.01
30-Year Treasury Bond 2.64 2.87 2.61
30-Yr Fixed (FHLMC) 3.62 3.84 3.80
15-Yr Fixed (FHLMC) 2.93 3.06 3.07
6-Mo Libor (FNMA) 0.86025 0.48990 0.35740
Sources: IBC’ s Money Fund Report; Bank Rate Monitor; Federal Home Loan Bank of San Francisco
SEE IT ALL:

 Facts & Figures 2016 How Does Your State Compare

 

 

 

FROM ME:

Phoenix Commercial Real Estate and Investment Real Estate: investors and Owner / Users need to really know the market today before making a move in Commercial Properties or Investment Properties in Phoenix / Tucson / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land in Phoenix / Tucson / Arizona.  Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties.

I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group.  I also sold  hundreds millions of dollars’ worth of  Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with  brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also international.  Click here to find out what is a CCIM:  https://en.wikipedia.org/wiki/CCIM

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I am actively looking to build relationships with Real Estate Investors and Owner  Users  for  Retail / Industrial / Office / Multifamily and Land  in  Phoenix  –  Scottsdale   –  Tucson   –  Arizona

http://walter-unger.com/?p=15472

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Click here to find Reasons to Consider me for Commercial Referrals

http://walter-unger.com/?p=15010

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Click here to View My Listings and Profile

http://www.loopnet.com/profile/14101172900/Walter-Unger-CCIM/Listings/

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Click here to find out what is a CCIM:

https://en.wikipedia.org/wiki/CCIM

5

Click here to view my website:

http://walter-unger.com/

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Interactive Map Of All 10+ Unit Apartment Listings in Metro Phoenix

http://www.easymapmaker.com/map/28cb3b8b3206c377a6f282d980dc7974

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Click here:

3rd QTR 2015  GREATER PHOENIX APARTMENT OWNER’S NEWSLETTER  Kasten Long Commercial Grpup.

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Click here: No Slowdown in New Construction in Q3 – Apartments

http://walter-unger.com/?p=15073

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Click her to join my mailing list :      

http://visitor.r20.constantcontact.com/manage/optin?v=001l2E62PqC4Z3sggwR_1M9aUmjrzvHWmSVEfy9MrVW6ULRJR3XWD1R_98ZLV5AVRdcHcxwR32LZvKqcYEkVDBKEwAuD87hIYmDX8GpVxXVwjc%3D

Walter Unger CCIM –  walterunger@ccim.net   – 1-520-975-5207  –  http://walter-unger.com

2016 Official Arizona Visitors Guide

Visit Arizona

WHY PHOENIX ARIZONA : ???     

 check it out

http://walter-unger.com/?p=13391                     

 

1

Timeline of Phoenix, Arizona history

 

http://en.wikipedia.org/wiki/Timeline_of_Phoenix,_Arizona_history

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Phoenix, Arizona

 

http://en.wikipedia.org/wiki/Phoenix,_Arizona

 

3

Facts of Arizona – year 1848 to 2013

http://walter-unger.com/?p=9507

4.

Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.

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walterunger@ccim.net 1-520-975-5207

Check out my professional profile and connect with me on LinkedIn.

http://lnkd.in/bezpJ8t

Follow me on Facebook:

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Follow me on Twitter:

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Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages.  The interactive map  shows the location of each community (10+ units) and each location is color coded by the size (number of total units). 

Click here for Map of Apartments for Sale (10+units)

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Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years.  If you have any questions about Commercial / Investment Properties in Phoenix or Commercial /  Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us. 

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Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207

 

www.Walter-Unger.com

 

Walter Unger CCIM

Senior Associate Broker 

Kasten Long Commercial Group

2821 E. Camelback Rd. Suite 600

Phoenix , AZ 85016

Direct:    520-975-5207   

Fax:       602-865-7461

walterunger@ccim.net

www.Walter-Unger.com    

www.KLCommercialGroup.com

View My Listings and Profile

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What is a CCIM?

Reasons to Consider me for Commercial Referrals

 

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Delivering the New Standard of Excellence in Commercial Real Estate 

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The information in this blog-newsletter is for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.