Margert in the News
Home prices
to fall 1% in 2012, rebound in 2013
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HOUSINGWIRE.COM
The double-dip in home prices that began two years ago continued through the
third quarter of 2011, according to the Fiserv
Case-Shiller Indexes released Monday. However, there are signs of a recovery for
2013.
The indexes projects average U.S. home prices will drop another 1% in 2012,
and that increased home sales and improved economic conditions should contribute
to a 3.8% increase in 2013.
Nationally, the indexes show home prices fell in 337 of the 380 metro areas
tracked in the third quarter from the prior quarter and year-earlier period. The
average price of a U.S. home fell to a new post-bubble low, declining 3.9% from
a year ago. Average home prices are now 33% below the 2006 peak, with broad
weakness across the U.S.
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Governor Announces Low Cost
Financing for Energy Efficient Upgrades
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Governor Andrew M. Cuomo today announced that New York consumers seeking to
make energy-efficient upgrades to their homes can now obtain low cost financing
and repay the loan on their monthly utility bill. The program, known as On-Bill
Recovery Financing, allows costs incurred by homeowners to be offset through
energy savings while reducing consumption and air pollution, making it a win-win
for New Yorkers.
On-Bill Recovery Financing was a signature part of the Governor's Power NY
Act of 2011. While the legislation originally scheduled On-Bill Recovery
Financing to begin in June 2012, the Governor in his State of the State Address
announced that the program had been accelerated to start sooner than scheduled.
"This program is a great way for New Yorkers to make their homes more
energy-efficient and more environmentally friendly in a way that doesn’t cause
financial hardship," Governor Cuomo said. "The program will also create
immediate jobs, and I hope homeowners across the state take advantage of this
opportunity."
The financing program is offered by the New York State Energy Research and
Development Authority (NYSERDA) and encourages New York homeowners and
businesses to make energy-efficiency improvements.
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Margert Community Corporation is a contractor for
NYSERDA's EmPower New York, a program that
helps low-income residents reduce their use of electricity, improve the
efficiency of their heating systems and increase the comfort of their homes.
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Mortgage Relief Programs Fall
Short
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Real-Time Advice: The government's five mortgage relief programs set out to
help 13.4 million homeowners. They actually helped 1.9 million.
In the next few months lenders will take new steps to help one million
struggling homeowners pay their mortgages. But experts say if recent history is
any guide, relief won't make it to that many doorsteps.
Over the past few years, the federal government's major mortgage relief
programs helped just a fraction of the homeowners they initially set out to
reach. The so-called Home Affordable Modification Program and the Home
Affordable Refinance Program, both introduced in 2009, have so far assisted just
20% of the homeowners government officials projected. Other programs shuttered
altogether after not gathering enough borrower or lender participation. In fact,
the U.S. government's five major programs, which were projected to assist 13.4
million homeowners, only reached 1.9 million
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US Home Prices Drop
for 6th Straight Month
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WASHINGTON (AP) -- Home prices dropped in February in most major U.S. cities
for a sixth straight month, a sign that modest sales gains haven't been enough
to boost prices.
The Standard & Poor's/Case-Shiller home-price index shows that prices dropped in
February from January in 16 of the 20 cities it tracks.
The steepest declines were in Atlanta, Chicago and Cleveland. Prices rose in
Phoenix, San Diego and Miami. They were unchanged in Dallas.
The declines partly reflect typical offseason sales. The month-to-month prices
aren't adjusted for seasonal factors.
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