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This free monthly newsletter, the Findoha MarketLink eLetter, brings you latest news about real estate market, expert business forecast, recommendations, company changes, global news and more. In this issue, you'll learn changes in house prices, latest acquisition news, fuel price forecast, and contractor news.

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CATCH THE MARKET

U.S house price increases continue to slow  
U.S. single-family house prices showed no gains from May to June, dragging down the annual rate of increase and signaling a deeper fall, according to an index of 10 major metropolitan areas. The composite year-over-year gain in the Standard & Poor's/Case-Shiller Home Price Index slowed to 8.2 percent in June from 9.7 percent in May. The index has shown a slow down of price gains over the past seven months and is well below its peak of 20.4 percent reached in July 2004.

US home loan demand falls 1st time in 4 weeks
U.S. mortgage applications fell for the first time in four weeks as demand for home purchase loans dropped to the lowest level in nearly three years. The index of mortgage application activity, which includes both refinancing and purchasing loans, for the week ended Aug. 25 decreased from the previous week's 561.5, to decreased 0.9 percent to 556.5, nearly 23 percent below their year-ago level.
 

Refinancing rebound - Sixth Straight Week
It is the sixth straight week that home refinancing demand rose, which primarily is a result of a recent retreat in mortgage rates. In last week of August, borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 6.39 percent, up 0.01 percentage point from the previous week when they sank to their lowest since March.

Interest rates were above year-ago levels of 5.73 percent but below a four-year high of 6.86 percent touched in June. Fixed 15-year mortgage rates averaged 6.06 percent, up from 6.04 percent the previous week. Rates on one-year adjustable-rate mortgages (ARMs) increased to 5.97 percent from 5.91 percent. The ARM share of activity increased to 26.8 percent of total applications from 26.4 percent the previous week.

The Brand New Orleans: KB Home Opens First New Residential Community Since Katrina
KB Home, a national homebuilder building houses and seeking land permits in New Orleans, announced that it has begun sales in its first residential community in New Orleans. The community called River Garden currently has one model complete and eleven more homes under construction.

Located within minutes of downtown New Orleans, the seventy-three homes will all be built in traditional New Orleans architecture. Fifty-eight of the homes will be market priced (from the $300s) and 15 of the homes will be designated "affordable" and priced by the Housing Authority of New Orleans.

This unique community offers single family and attached homes featuring 12 floor plans from 1,257 to 2,305 square feet priced from the low $300s. New homeowners will be across from a city park, have views of downtown New Orleans, and be walking distance to the Magazine Street shopping district and Warehouse and Arts district.

Four other communities are also underway in Baton Rouge, LA.

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KNOW THE LATEST


U.S. oil prices will not fall far below $70 during winter
While U.S. oil prices are down sharply from recent highs, the cost for a barrel of crude is not expected to drop much below $70 and that won't give consumers a break on heating oil prices this winter, the government's top energy forecasting agency said last week.

The federal Energy Information Administration said oil prices have recently declined because peak gasoline demand is coming to an end as the busy summer driving vacation season winds down and motor fuel inventories stay strong. However, any concerns about the adequacy of heating oil supplies this winter can keep upward pressure on crude prices and heating fuel costs.

U.S. heating oil inventories totaled 58.9 million barrels at the end of last week, the same amount as a year earlier when the United States was heading into an autumn and winter that saw temperatures far above normal. This fall and winter are forecast to be much colder.

With strong global demand for distillate fuel (diesel fuel and heating oil combined), given that diesel fuel markets in Asia and Europe are particularly robust, heating oil prices may rise to attract sufficient imports (to the United States) this winter to balance demand.

Tele Atlas Introduces Online Map Feedback Tool Tele Atlas, a leading global geographic content provider, announced it will expand its map update system with Map Insight(TM). It is an online tool that allows users of Internet, personal navigation and wireless devices and applications powered by Tele Atlas data to quickly report changes to the company. Map Insight will be made generally available during the fourth quarter of 2006.

PPG Industries Inc. acquires Spectra-Tone Paint Corp.
PPG, the Pittsburgh maker of coatings annouonced that Spectra-Tone is an architectural paint and coatings manufacturer distributing products mainly through 22 company-owned service centers in the western U.S.
PPG reached agreement to acquire Protec Pty. Ltd. of Australia, and all assets of Fortec Paints Ltd., Protec's New Zealand business. Protec makes and distibutes automotive refinish coatings, and light industrial and high performance coatings.

Plumbing Products in China to Approach 13.5 Billion Dollars in 2010
Demand for plumbing products in China is projected to increase nearly 15 percent per annum through 2010 to almost 13.5 billion dollars(8 Yuan=1 Dollar), outpacing growth in most other parts of the world. Market advances will be driven primarily by healthy gains in building construction activity as industrialization efforts continue and income levels rise. Also aiding demand growth will be continuing trends toward larger bathrooms and kitchens in residential markets and further penetration of items such as bathtubs and showers in Chinese homes. In addition, increasing demand for greater living space, further privatization of home ownership, and a rapidly expanding domestic consumer market will all contribute to plumbing product market gains.

Plumbing fixtures made of plastic materials, especially acrylic and fiberglass, will see demand value rise nearly 18 percent annually through 2009, the fastest of any material category. Gains in plastic fixture demand will benefit from the material's substitution for other materials (particularly vitreous china) and from the dominance of plastics in rapidly expanding product segments such as showersand bathtubs. Metal fixtures will also provide solid growth prospects.

Beacon Roofing Supply acquires Oklahoma-based RSM Supply
Beacon Roofing Supply, Inc. acquired Roofing & Sheet Metal Supply, Inc, a Tulsa, Oklahoma-based distributor of residential and commercial roofing products.

RSM Supply is a successful and well-established distributor of roofing products and presents Beacon with the opportunity to enter the growing Northwest Arkansas market and add to its existing locations in Oklahoma, Missouri, and Arkansas.

Goodyear Launches Fuel-Efficient Truck Tire Lines Goodyear Tire is launching a fuel-efficient tire line for long-haul trucks. The Akron, Ohio, tire manufacturer announced the tires will feature the company's new Fuel Max Technology, and will have new steer, drive and trailer tires and retreads for trucking fleets and owner-operators. Goodyear indicated an 18-wheeler with tires featuring Fuel Max Technology can achieve up to 4% improved fuel econ.

With the heavy duty truck and equipment market demanding better performance, reliability and safety, manufacturers are turning to advanced electronics and controls to meet these goals. Advanced sensor systems such as tire pressure, enable fleet managers to lengthen the life of their truck tires, reducing one of the most expensive maintenance activities of running a fleet. Safety critical and productivity systems such as breaking and lift systems can be monitored automatically with pressure sensors, reducing the risk of failure and costly equipment downtime. Sensors also allow remote monitoring and regulation of critical engine controls and diagnostics.

American Electric Power to build $1.3 bln plant in Arkansas
American Electric Power Co. Inc. announced it will build a baseload power plant at Hempstead County near Texarkana, Arkansas, with goal of meeting the long-term generation demands of its customers. The proposed 600 megawatt, coal-fueled plant will create 1,000 to 1,400 construction jobs and bring about 110 permanent jobs to the area. The plant is expected to be operational by the summer of 2011, the company noted in a statement.

BlueLinx Acquires Hardwood Lumber Distributor Austin Hardwoods
BlueLinx Holdings Inc. announced that it acquired Austin Hardwoods, a privately held hardwood lumber distributor based in Austin, Texas. The acquisition will be expanding BlueLinx' presence in the Southwest and is expected to enhance the company's ability to service industrial customers in certain local markets.

Austin Hardwoods distributes high-quality hardwood boards, veneers and plywood to a variety of customer segments including cabinet makers, millwork companies and furniture makers. BlueLinx is not acquiring any of Austin Hardwoods' franchised locations. .

CME lumber lower early amid slow housing sector
Lumber futures on the Chicago Mercantile Exchange were lower earlier in the last two weeks, weighed by a slowdown in the housing sector, market makers and traders indicated. Gains in the cash lumber market did not support futures, that cash trades were for small amounts. September lumber was down $6.20 at $275.10 per thousand board feet. November was off $3.90 at $276.20.

The increased likelihood of a U.S./Canada trade deal did little to entice buyers into the market.

Cooling Economy Tightens Rental Market
The rental market is tight as a result of rising interest rates discouraging renters from becoming homeowners. With rental prices reaching incredible highs, homeownership is actually a smarter option particularly with the help of the recent federal rate pause and indicators of future economic activity suggesting a cooling but not plunging economy.

Cash-out refinancing in 2nd quarter highest in 16 years
The percentage of U.S. consumers taking cash out of home equity rose in the second quarter to the highest in 16 years, Freddie Mac indicated. In that period, 88 percent of Freddie Mac-owned loans that were refinanced resulted in new mortgages with loan amounts at least 5 percent higher than the original balances, according to the quarterly refinance review. This is up from a revised 86 percent in the first quarter and is the highest since the second quarter of 1990, the second-largest U.S. home funding.

Borrowers are reacting to incentives to cash out home equity through refinancing, and responding to incentives to change their mortgage as they reach an interest rate adjustment level.

Significant Energy Savings Achieved Through Scheduling Software
Dean Evans & Associates announced the successful integration of the Event Management System (EMS) facility and resource scheduling program with the heating and cooling system at a church campus in Texas via AEFMG's new ThermoNightHawk (TNH) interface. The interface uses room occupancy information from EMS to control thermostats throughout a facility, automatically bringing a room to the desired temperature prior to a scheduled meeting or event and then shifting to a more energy-efficient temperature setting when the room has been vacated. Energy consumption figures at the Texas site show savings of up to 22% in a 70,000 square foot facility.

Investors pile into Japan, euro zone debt
Overseas investors have been buying Japanese government bonds at close to the heaviest rate in a decade over the past month and have also aggressively pumped money into the euro zone government debt market.

Institutional investor buying of U.S. Treasuries, meanwhile, has been more moderate but still above the 10-year average. Combined with moves by investors into developed equity markets, the bond-buying showed investors had become increasingly cautious.

U.S. manufacturing to grow faster
U.S. manufacturing will likely grow faster this year than was previously expected, then slow sharply next year to a rate closer to the country's overall economic growth. U.S. factory output will increase a 4.3% to 5.1% this year and then slow to 2.4% next year, while real gross domestic product will grow 2.7% to 3.4% this year and 1.7% to 2.4% next year.

U.S. manufacturing has been helped by its concentration in capital goods and electronics sectors, which have done relatively well this year. In the longer run, growth of factory output will likely slow in response to broader economic drags including the lagged effect of higher interest rates, sharply higher energy prices and slower employment growth, according to the forecast.

SecureUSA's New EPA Friendly Electric Bollard Advances Anti-Terrorism Security
The new rising bollard incorporates an electric design and newer technology. SecureUSA developed the new electric bollard in response to concerns with the industry's outdated hydraulic bollards..The new electric bollard features a smoother and quieter operation, longer cycle life, traffic data and analysis capabilities, system diagnostics, onboard alert system and complete programmable operation.

The electric bollard provides a high level of physical security as well as its technological advancements. The electric bollard is capable of stopping a 15,000 lb. vehicle traveling at 30 mph.

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Ed
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Findoha.com