A week's roundup of interesting real estate numbers
First interesting number: 11.9 percent. That was the "national mover rate" in the United States last year, a record low. The Census Bureau has tracked the rate since 1948. (The actual number of people moving was 35.2 million, down 3.5 million from the year before "and the smallest number of residents to move since 1962.")
Second interesting number: 34.1 percent. That's the share of people defaulting on Fannie Mae or Freddie Mac loans in January who gave "curtailment of income" as the reason, according to the Federal Housing Finance Agency. "Excessive obligations" came in next at 19.8 percent, followed by unemployment (8.1 percent), illness (6.5 percent) and marital problems (3.5 percent). (Those were the most common reasons, but there were others.)
Third interesting number: $16.3 million. That's how much K Bank, an Owings Mills company that a number of rehabbers turned to for loans, lost during the fourth quarter. The Federal Deposit Insurance Corp. said Friday that it has required the bank to "stop issuing construction and development loans and raise more capital," Andrea K. Walker reports today.
Fourth interesting number -- OK, numbers: $360,000, $360,000 and $420,000. That's how much Scots Glen condos sold for at auction yesterday after a lender foreclosed on builder Dale Thompson, according to Realtor Pat Hiban. Hiban says on his blog:
The 420k was the former model with 4 finished levels and an elevator. The model was last listed at 740k and the other two were in the mid 600's. ...
The lots in Highland drew even more bidders. Out of the 7 lots for sale, 4 sold at prices acceptable to the bank. The sale prices on the lots were 250k,255k,290k and 295k. The other 3 got bids of 150-180k and Columbia Bank chose not to accept those. It was quite an experience and it was good to see so many serious buyers there in earnest.
At one point the auctioneer yelled out "These are going for way less than the market!!!" and the guy next to me yelled back "Your looking at the market buddy!!! This is your market, right here right now!!!"
Thanks to David Hobby for pointing out Hiban's post -- I would have missed it otherwise.
Have other interesting housing-related numbers to share? Comment away.