Going Green? nah… Go Red.

Redfinnian that is. Just checking out the recent newsletter from RedFin (a real estate brokerage firm) that reviewed the recent Case Shiller index. Why does this matter? Because they report that home prices and sales are up! As Redfin wisely warns, this is not an indicator that the market is swinging back up any time soon, but it is an indicator that the market is changing. Check out Red Fin’s analysis on the Case Shiller report here.

Another interesting report this week, the White House is considering extending the federal tax credit for new home buyers. This tax credit has already helped boost sales over $1 million dollars this year. But if you would rather be safe than sorry, make sure you close on your new home by November 30th to ensure you recieve that glorious $8,000.

Final buzz for this blog comes from a Wall Street Journal blog posted today. I’ll give you a  little taste of the news from Barclays banking analyst Roger Freeman: “…we believe commercial real estate prices may have bottomed for the time being, resulting in no meaningful markdown…” If commercial real estate is going to start swinging up, the real estate market as a whole has a chance of moving positively into 2010.

Happy Friday!