New Home Spell

New home construction sales dip, still up overall

Unemployment continues as homeowners are increasingly upside down in their homes or simply struggling because of underemployment or unemployment, while builders continue to struggle with obtaining financing to build more inventory. These two things have hampered the sector but do not necessarily spell eternal doom for builders.

This week, we reported that existing home sales dropped 3.8% in May, performing more poorly than had been anticipated. Sales for May appear to have dropped across the board, not just for new home sales.

Congress is unlikely to issue another tax credit incentive any time soon especially in light of the news in April that tax fraud pertaining to the home buyer credits surpassed half a billion dollars . The incentive was a legitimate boost for new home sales and existing home sales, but critics note that it was a short and false boom. Current sales are more indicative of the economy than prior to the tax credit expiration.

Government intervention is not likely the reason home builders will ultimately recover, it will be twofold- first, lenders loosening the chokehold they have on construction loans, even if slightly, and secondly, first time buyers and foreclosed homeowners exiting the rental market over the next few years. We don’t anticipate a rush on new homes nor a boom, but an eternal bust is not the future of the new home sector.

AgentGenius Editor-in-Chief: Lani, named one of Real Estate’s 100 Most Influencial, as well as 12 Most Influencial Women in Real Estate, is a business writer hailing from the great state of Texas in the city of Austin. As a digital native, Lani is immersed not only in advanced technologies and new media, but is also a stats nerd often burried in piles of reports. Lani is a proven leader, thoughtful speaker, and vested partner at AGBeat. You’ll often find her on Facebook and Twitter, so feel free to reach out and get to know her.

Will Pottermore keep Harry Potter fans under J.K. Rowling's spell ...

, Harry Potter fans all around the world logged onto YouTube for the long-awaited announcement by J.K. Rowling herself about what exactly Pottermore is.  After the countdown had ended, a video was revealed that showed the author talking about the website.  Her video was still a bit vague, but talked about an interactive website where fans could come together and virtually go through Harry’s life at Hogwarts.

Rowling stated of Pottermore, “I wanted to give something back to the fans that have followed Harry so devotedly over the years, and to bring the stories to a new digital generation. I hope fans and those new to Harry will have as much fun helping to shape Pottermore as I have. Just as I have contributed to the website, everyone else will be able to join in by submitting their own comments, drawings and other content in a safe and friendly environment – Pottermore has been designed as a place to share the stories with your friends as you journey through the site.”

An official press release went into further detail about the site. “In the new website, the storyline will be brought to life with sumptuous newly-commissioned illustrations and interactive ‘Moments’ through which you can navigate… On entering, you choose a magic username and begin your experience. As you move through the chapters, you can read and share exclusive writing from J.K. Rowling, and, just as Harry joins Hogwarts, so can you. You visit Diagon Alley, get sorted into a house, cast spells and mix potions to help your house compete for the House Cup.”

Many fans were thrilled about the news.  J.K. Rowling has said for years that she had exclusive background content on many side characters, and Pottermore will be the place she can reveal it all.  However, not everyone is so excited.  The writer of harrypotterreviews, also the owner of the extremely popular Twitter @hpotterquotes, smashed the grand announcement.  “We had to wait for an announcement that wasn’t even live, simply a two-minute pre-recorded video in which JK Rowling barely clarifies what this website is about.  It’ll be some sort of social network with an online store, with fan fictions and a small encyclopedia, along with never-before-seen games and new magical experiences. Not only did they have all the fans restlessly waiting for what they believed was a launch, but now we have to wait until October… Moreover, Pottermore is not a great website for fans. It is clearly a publicity stunt (that is way too interactive) in order to introduce the Ebooks into the mass market, something that is completely new to the Harry Potter publishers.

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