2010-08-25

Home sales plunge 27 pct. to lowest in 15 years

Home sales plunge 27 pct. to lowest in 15 years

By ALAN ZIBEL and J.W. ELPHINSTONE, AP Real Estate Writers
52 mins ago

WASHINGTON – Sales of previously occupied homes plunged last month to the lowest level in 15 years, despite the lowest mortgage rates in decades and bargain prices in many areas.
July's sales fell by more than 27 percent to a seasonally adjusted annual rate of 3.83 million, the National Association of Realtors said Tuesday. It was the largest monthly drop on records dating back to 1968, and sharp declines were recorded in all regions of the country.

The plunge in home sales also magnified fears about the broader economy.
"The housing market is undermining the already faltering wider economic recovery," said Paul Dales, U.S. economist with Capital Economics. "With the increasingly inevitable double-dip in prices yet to come, things could yet get a lot worse."
Sales were particularly weak among homes in the lower- to mid-priced ranges. For example, in the Midwest, homes priced between $100,000 and $250,000 tumbled nearly 47 percent.

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The weakness follows a strong spring, when now-expired government tax credits sparked sales, especially among first-time buyers of lower-priced homes.
The tax credits caused many of those buyers to speed up their home purchases. Sales have weakened since the credits expired on April 30.

As sales have slowed, the inventory of unsold homes on the market grew to nearly 4 million in July. That's a 12.5 month supply at the current sales pace, the highest level in more than a decade. It compares with a healthy level of about six months.

One reason the market is hurting is that buyers and sellers are in a standoff over prices. Many sellers are reluctant to lower their prices. And buyers are hesitating because they think home prices haven't bottomed out.
Laurie Salaman has been trying to sell her home in New York City for a year so she can move to the suburbs. She's had no offers, even after cutting her listing price on the three-bedroom Bronx home from $475,000 to $449,900.
She notes that she has upgraded the kitchen and bathrooms, refinished the basement and put in new decks and patios. Her goal is to take about $100,000 from the sale and put it toward the purchase of the new house. She said she won't lower her price any further.

"That's my bottom price," said Salaman, 55. "If I don't get that price, then I will hold off until the market gets a little better," she said.
The housing market is also being hampered by the weakening economic recovery. Unemployment remains stuck at 9.5 percent and many potential buyers worry they might not have a job to pay the mortgage.
Prices have fallen in part because foreclosures are running about 10 times higher than before the housing bust. Though the average rate for a 30-year fixed mortgage has sunk to 4.42 percent, many people can't qualify because banks have tightened their lending standards.

Home sales picked up in the spring when the government was offering tax credits. But sales have sputtered since the tax credits expired.
The drop in July's sales was led by 35 percent plunge in the Midwest. Sales were down 30 percent in the Northeast, 25 percent in the West and 23 percent in the South.
The median sale price was $182,600, up 0.7 percent from a year ago, but down 0.2 percent from June.

2010-08-17

富邦認轉客資料予保險公司 永亨亦涉轉移客戶私隱

富邦認轉客資料予保險公司 永亨亦涉轉移客戶私隱
 (明報)2010年8月17日

【明報專訊】金融管理局    上周在沒有公布名字的情况下,透露了有6間零售銀行涉及轉移或售賣客戶資料。到了昨晚,富邦銀行    率先公開承認,曾為推廣保險產品而轉移客戶資料,但已即時停止轉移,並全面審查處理客戶資料方式。不過,聲明無交代有多少客戶受影響及接收資料的保險公司名稱。此外,本報記者獲悉,永亨正是另一家涉及轉移客戶資料的銀行,但本報未能與該行取得聯絡。

富邦無交代受影響人數

經過八達通事件後,本地銀行被揭發轉移客戶個人資料圖利。據本報記者獲悉,這6家銀行已全數停止了有關的安排,但他們向金管局    強調,事前均有徵詢律師意見,並認為在客戶同意下將其資料轉移並無法律問題,惟八達通事件反映公眾的要求更高,故涉事銀行已全面停止轉移客戶資料。

稱為擴客戶保險產品選擇

富邦銀行表示,轉移資料是銀行與保險公司為擴闊客戶保險產品選擇而達成的協議,現已停止所有為推廣目的而向有關保險公司轉移客戶資料,並全面停止過往與保險公司之間的推廣服務協定,但外判的失卡服務熱線仍有繼續轉移客戶資料,現與私隱專員合作以協助調查。

為解答市民疑問,富邦銀行設立熱線電話回應查詢,號碼是2806 5038。不過,有關保險公司名稱及受影響客戶人數的查詢,富邦銀行於截稿前未有回覆。

私隱署另兩投訴不涉金管局

另外,個人資料私隱專員公署    上周表示,涉及資料轉移的銀行有8間,與金管局公布的6間有出入。據了解,兩家機構核對後,發現公署有誤,因一宗涉及的機構不是金管局監管的機構或銀行,另一宗則是投訴銀行聘請街外的市場調查員做客戶問卷調查,與轉售客戶私隱情况無關。因此,金管局認定,涉及轉移客戶資料的銀行至今仍然只有6間。

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炒家千八萬 狂掃50車位 轉移陣地 避開新9招

炒家千八萬 狂掃50車位 轉移陣地 避開新9招
 (明報)2010年8月17日

【明報專訊】上周五政府突然出招為樓市降溫,措施明顯針對近月交投熾烈的住宅市場。出招後首個周末日,住宅樓市交投果然明顯大跌,但另一邊廂,部分投資者面對低息環境,在資金缺乏出路下,索性將資金轉戰未受措施影響的車位市場。市場消息指,數名本地投資者自組炒家財團,在政府出招之後,斥約1800萬元大手向會德豐地產(0049),掃入逾50個九龍塘又一居車位,以每個約30多萬元,月租約1800元計算,扣除投資成本,淨租金回報約5厘半。

會德豐地產近年一直放售數百個又一居車位,每個車位介乎約32萬至36萬元不等。業內人士指,有實力車位投資者一般毋須貸款,或按揭成數較低,主要由於車位按揭市場較住宅小,按息高於住宅,一般為最優惠利率減1.75厘,按揭成數亦低至僅約5成,還款年期亦僅介乎約10至15年不等。若以32萬元車位、按息3.25厘、5成按揭及分15年攤還,每月供款約1124元,扣除管理費、差餉及律師費等投資成本,以每月1800元租金計算,淨租金回報約5厘半。

淨租金回報約5厘半

不過,據區內代理表示,由於又一居車位供應較多,租金一直未有明顯上升,亦缺乏二手市場。區內其他大型屋苑,包括九龍塘畢架山一號及何文田君頤峰等,由於車位供應有限,無論車位市值及租金均較高,前者現時每個市值約120萬元,月租約4300至4500元;後者現時每個市值約110萬元,月租亦約4000元。

事實上,由於市區市位的新增供應不多,投資回報穩定,吸引投資者,今年以來車位成交持續上升(見圖)。另一方面,在環保大潮流之下,未來車位供應有下降趨勢,近年政府開始在地契上入手,若果住宅項目興建細單位為主,如實用面積約500方呎,或要5至7伙才可以興建一個車位,視乎區域而定,早年並沒有這類規定,只要屬合理數量便可獲批,反映政府有意限制車位數量。

荃灣工廈轉手賺1200萬

另外,工廈亦成為資金投資對象,消息指荃灣沙咀道榮亞工業大廈地下A、B及C室、合共約14027呎的地廠,早前已成交;土地註冊處資料顯示,上述物業於2007年12月,由康景亞太有限公司以3100萬元購入,該公司董事為梁紹鴻(大鴻輝主席),上月中以4330萬元售予天國恩業有限公司,成交呎價3087元,帳面賺價1230萬元。該地廠估計現時月租亦介乎18萬至20萬元,即平均呎租介乎12.8至14.2元,租金回報率介乎5至6厘。

(明報記者陳天賜、鄧雅各報道)

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