POWER BROKER REPORT… BACK FROM THE BRINK

According to the very encouraging results of RISMedia’s 22nd Annual Power Broker Survey, more than 1,200 real estate firms weighed in on their success in 2009, reporting a total $585,508,645,713 in sales volume. Although this total sales volume is down by more than $163 billion over 2008, overall transactions for 2009 have increased by more than 100,000.  RisMedia is a leader in real estate information systems.

Rismedia also reports that with the advent of higher consumer spending and healthier stock markets, which many Americans feel is evidence that we are out of recession, many people are returning to their old habits of spending.  Their research points to most Americans not changing much after a recession, and likely therefore to end up where they once were.  With shoppers returning, stores have stopped heavily discounting. 

BOCA MUSEUM OF ART PRESENTS ELVIS AT 21 PHOTO EXHIBIT

Going back in time to 1956, struggling photographer Alfred Wertheimer was assigned to take photos of a newly signed young singer from Memphis, TN named Elvis Presley. 

The Boca Museum of Art is featuring these photos which remain among the very best candid images of the young man who became the King of Rock’N Roll.  The traveling Smithsonian exhibit, Elvis at 21, opens Tuesday. 

Wertheimer says that Elvis told him, “I don’t just sing with my voice, I sing with my whole body.”  He also commented that Elvis let him get within 3-4 feet of himself, became totally absorbed in what he was doing, and this enabled Wertheimer to get wonderful candid shots, the only ones that exist today.

 LIFE IN WISCONSIN as painted by ROBERT DUNCAN

 While this is NOT typical Florida life, I think you will enjoy watching this power point show.  If download does not work, click view.  Sit back and enjoy the sights and sounds.

	RobertDuncan'spaintings.pps 5149K   View   Download

South Florida Business Journal: EXISTING HOME, CONDO SALES RISE-in 2010 homes and condos are unlikely to be as cheap to buy or as cheap to finance.

The latest monthly Standard & Poor's/Case-Shiller home price index came in higher last week. Prices were up in 12 of the 20 major markets that Case Shiller monitors.   Home price indexes increased nationwide in August, including in South Florida where an S&P Case-Shiller report released today showed a 1.1 percent step up.  The index does include all single family homes sold, which may account for any difference between it and National Association of Realtor figures released last week that showed a small dip in local median home prices. The NAR looks at MLS listings only.

The Commerce Department released parallel findings last week - that consumers are finally beginning to loosen up on spending, and are making purchases they deferred during the scary months of 2009.   If that rate of expansion in consumption continues, not only will it begin to whittle away at the unemployment rate, but also stimulate the entire US economy, since consumer spending accounts for 70 percent of the national gross domestic product or GDP.  The housing and mortgage sectors could also begin to show some of that confidence and willingness to spend.

Home sales are expected spike upwards in the coming several months as the two federal housing tax credits head for expiration.  Mortgage Bankers Association reported last week that applications for new loans to buy houses - a bellwether indicator - jumped by seven percent and now stand at their highest level in six months.