Author Archives: Jack Pearce

About Jack Pearce

Broker/Owner RE/MAX Valley Real Estate, Boardman, Ohio

FHFA House Price Index Up 0.8 Percent in July

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FHFA House Price Index Up 0.8 Percent in July 

Federal Housing Finance Agency’s monthly House Price Index shows nearly all census divisions with INCREASES in July — but DECREASES year over year.

U.S. house prices rose 0.8 percent on a seasonally adjusted basis from June to July, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.9 percent increase in June was revised to a 0.7 percent increase. For the 12 months ending in July, U.S. prices fell 3.3 percent. The U.S. index is 18.4 percent below its April 2007 peak and roughly the same as the March 2004 index level.

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Fixed-Rate Mortgages Cling To Record Lows

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A sluggish economy and investor concerns over the European debt markets left mortgage rates largely unchanged the week ending September 22, 2011.

Interest RatesFreddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®) the week ending September 22, 2011, showing fixed-rate mortgages changing little amid sluggish economic, mixed housing data, and ongoing concerns over the European debt markets. The 30-year fixed remained unchanged at 4.09 percent, while the 15-year fixed dropped a single basis point to 3.29 percent, marking a new record low.

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TCB: U.S. Leading Economic Index Inches Up

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The leading indicators point to rising risks and volatility; concerns increase about the health of the expansion.

The Conference Board Leading Economic Index® (LEI) for the U.S. increased 0.3 percent in August to 116.2 (2004 = 100), following a 0.6 percent increase in July and a 0.3 percent increase in June.

“The August increase in the U.S. LEI was driven by components measuring financial and monetary conditions which offset substantially weaker components measuring expectations,” said Ataman Ozyildirim, economist at The Conference Board. “The growth trend in the LEI has moderated and positive and negative contributors to the index have been roughly balanced. The leading indicators point to rising risks and volatility, and increasing concerns about the health of the expansion.”

“There is growing risk that sustained weak confidence could put downward pressure on demand and business activity, causing the economy to potentially dip into recession,” said Ken Goldstein, economist at The Conference Board. While the chance of that happening remains below 50-50, the odds have certainly increased in recent months.”

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More Good News: Positive Architecture Billings Index

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AIA reports Architecture Billings Index Turns Positive after Four Straight Monthly Declines; Strong level of inquiries for new projects.

Today brings the second bit of positive news for construction sector recovery in as many days. Architecture Billings Index (ABI) is a leading economic indicator that provides a glimpse into the future of construction spending activity:

On the heels of a period of weakness in design activity, the Architecture Billings Index (ABI) took a sudden upturn in August. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending.

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Survey: Housing Outlook Still Dimming

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Five years after the market peak home prices expected to increase an average of just  1.1% over next five years according to latest MacroMarkets survey.

Fortune Teller PredictionMacroMarkets LLC announced the results of the September 2011 Home Price Expectations Survey, compiled from 111 responses of a diverse group of economists, real estate experts, investment and market strategists. The survey is based upon the projected path of the S&P/Case-Shiller U.S. National Home Price Index over the coming five years.

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ODNR: Explore the Outdoors Fall Color Photography Contest

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The Fall Color Photography contest begins September 21 and ends October 26 .

Fall Pond

Explore the Outdoors, an Ohio Department of Natural Resources (ODNR) program, presents the 2011 Fall Color Photography Contest for Ohio students, grades 3-8.  The contest begins on September 21st and ends October 26th, 2011.

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ODNR: 2011 Fall Foliage Update #1

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Ohio Department of Natural Resources (ODNR) Fall Foliage Color Update #1 for September 21, 2011. Choose from six fall foliage events.

Ohio Fall Foliage

As the calendar ushers in autumn this Friday, Ohio’s woodlands and landscapes are still predominantly green; but with the continued good weather the fall color season should be great, according to the Ohio Department of Natural Resources (ODNR).

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Cops Probe Missing Austintown Copper

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Detectives working leads on copper thefts from Austintown homes.

Published Vindicator: Wed, September 21, 2011

Detectives are working several leads on nearly two-dozen copper thefts from homes in the township. Capt. Bryan Kloss said since Aug. 25, a total of 22 copper thefts were reported, six just this past weekend.

“We had a few before that, but then they really started hitting us hard,” he said.

Kloss said detectives are following up on several leads, and he said it’s possible the thefts are connected.

“We don’t know if it’s one person or a group of people,” he said. “There is a good possibility they could be connected, but right now we don’t know.”

Those responsible are targeting vacant homes, ones with for-sale signs or high grass, Kloss said. Recent break-ins have occurred on Notre Dame Avenue, Burkey and Lake roads and Norquest and Placid boulevards. He said officers patrolling those areas haven’t come across anyone suspicious or out of place, and neighbors said they haven’t noticed anything out of the ordinary.

“We encourage neighbors to give us a call if they see or hear anything strange,” Kloss said. “Even if they can’t pinpoint what it is, if they hear anything at all, call.”

Contact the Austintown Police Dept., Detective Div. here.

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Existing-Home Sales Stronger In August Than Expected

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Existing-home sales defy market predictions of little or no gain and increase nearly eight percent annually in August.

Existing Home SalesNational Association of Realtors® reports that, unlike new home sales that dropped 5.8 percent in August, existing-home sales increased for the same period, even though plagued with the same ongoing tight credit and appraisal problems as new home sales, including the regional disruptions created by Hurricane Irene.

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Phantom Fright Nights At Kennywood Park

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Phantom Fright Nights Return for Tenth Terrorific Season. There’s haunted houses, then there’s Kennywood. Few Can compare.

kennywood-phantom-fright-nightKennywood Park Phantom Fright Nights are back for its 10th straight blood-curdling season beginning Friday, September 30, 2011 — and will be open for your screaming pleasure every Friday and Saturday night thereafter through the Halloween season ending Saturday, October 29, 2011. One Sunday, October 9 is an added bonus. Operation times are from 7:00 p.m. to 1:00 a.m. in all cases.

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