Pew Finds Real Estate Still Best Investment
April 26, 2011 by admin
Filed under Real Estate Articles
They perception is reality and Pew Research polled 2,142 adults between March 15 and March 29 that comprised 57% of current homeowners and 30% of renters.
The found several interesting results:
- (44% of individuals whose homes lost value said they expect to recoup their equity losses in three to five years.
- 81% of adults believe buying a home is the best long-term investment a person can make.
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Positive Realty News Survey Report
April 13, 2011 by admin
Filed under Real Estate Articles
The Cotton and Company sent 65,732 registrants on resort and real estate websites a survey on their home buying intent.
Total responses to date: 807 Survey sent: February 25, 2011 Click the PDF graphic to get the report.
Or visit www.TheCottonSolution.com
Background: The Cotton and Company are industry leaders the sales and marketing of residential real estate throughout the United States, Latin America and the Caribbean. Managed more than 1600 properties over the past 28 years. Provides integrated market research, analytics, marketing, web development, public relations, sales management, and customer database management services.
Some of the more salient findings:
The vacation home market has experienced a rebound in 2011, moving from 4% to 36% interest year-over-year. This is the
highest level of interest throughout the 3-year period.
• In 2010, 95% of the respondents who were no longer in the market for real estate cited economic instability as the reason for not
purchasing. In 2011, 46% of the respondents cited no desire to move, indicating a 41% drop in the response aligned with
economic conditions.
• Buyers who must sell their home prior to purchase dropped 10% year-over-year, reflecting 32% in 2011.
• Buyers who plan to purchase within 6 months saw a 21% increase from 2010. In 2011, 25% of the buyers indicate a timeline to
buy within 6 months, however, a 13% increase in the “over 2 years” category was also noted.
• Respondents remained virtually unchanged in their answer to “Have we reached the bottom of the market?” signifying continued
concern over pricing stability.
• The level of anticipated price reduction continues to show improvement in 2011, a result of significant price adjustments in the
market. In 2009, the median anticipated discount was 50%. In 2010, 30%. In 2011, this level has reduced to just 20%.
• Buyer transition indicates a continued trend toward downsizing and geographic relocation. This trend is also reflected in the
increased interest in smaller villa product type.
• 1,700 to 2,300 square feet remains the most popular residence size. However, growth occurred in the smaller home segment
with 31% of the market seeking a home between 1,000 and 1,600 square feet of space.
Mr. Cotton offers up his advice to Realtors and Mortgage pros on how to get their marketing ready to handle the realities of todays real estate market.
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Foreclosures Drop 27%
March 15, 2011 by admin
Filed under foreclosures, new homes, Real Estate Articles
Image by Getty Images via @daylife
This is the biggest drop ever in history!
Meanwhile New home sales is driving much of the current home sales and helping to end the housing slump.
“Existing home sales produce some economic activity but it pales in comparison with new home sales,” said David Crowe, the chief economist for the national Association of Home Builders. “We calculate that for every 100,000 homes built, it creates 150,000 construction jobs but another 150,000 manufacturing jobs building refrigerators, furniture and other products.”
http://money.cnn.com/2011/03/10/real_estate/february_foreclosure_realtytrac/index.htm
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Moody’s on Housing: “This is as affordable as it gets”
February 10, 2011 by admin
Filed under Real Estate Articles
Image by New America Foundation via Flickr
“Based on incomes, this is as affordable as it gets,” said Mark Zandi, chief economist at Moody’s Analytics. “If you can get a loan, these are pretty good times to buy.”
Moody’s Analytics track the ratio of median home prices to annual household incomes in 74 markets. By that measure, housing affordability at the end of September had returned to or surpassed the average reached between 1989-2003 in 47 of those markets. Most economists believe the housing boom took off in 2003.
Related articles
- U.S. Home Prices Fall to Pre-Bubble Levels (dailyfinance.com)
- Home Affordability Hits Pre-Bubble Levels (online.wsj.com)
- Why the Housing Bottom Might Be Here (money.usnews.com)
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Positive Real Estate Friday
February 4, 2011 by admin
Filed under Real Estate Articles
Image by eqqman via Flickr
San Francisco Gets it January Housing Bump
Emmet , Charlevoix counties County Up
Danville and Alamo California Off and Running in 2011
January in Cape Cod Beats 2010 Housing Numbers
Sarasota and Bradenton Florida Sees More Activity to Close out 2010
January’s most popular real estate news
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Where Home Values Will Rise in 2011
January 22, 2011 by admin
Filed under Real Estate Articles
Forbes puts out its annual home value increase list:
Southern California spots two on the list with Northern California getting 1 city.
- San Jose
Average Home Price: $511,186
12-Month Forecast: 3% increase
Three-Year Annualized Forecast: 2% increase - Santa Ana
Average Home Price: $449,396
12-Month Forecast: 3% increase
Three-Year Annualized Forecast: 2% increase - Bethesda MD
Average Home Price: $384,775
12-Month Forecast: 2% increase
Three-Year Annualized Forecast: 2% increase - Pittsurgh, PA
Average Home Price: $384,775
12-Month Forecast: 2% increase
Three-Year Annualized Forecast: 2% increase - San Diego, CA
- Image via Wikipedia
Average Home Price: $336,679
12-Month Forecast: 2% increase
Three-Year Annualized Forecast: 2% increase - Oklahoma City
Average Home Price: $156,948
12-Month Forecast: 1% increase
Three-Year Annualized Forecast: 6% increase - Washington DC
Average Home Price: $325,014
12-Month Forecast: 1% increase
Three-Year Annualized Forecast: 6% increase - Austin Texas
Average Home Price: $325,014
12-Month Forecast: 1% increase
Three-Year Annualized Forecast: 6% increase - Chattanooga, Tenn.
Average Home Price: $172.948
12-Month Forecast: 1% increase
Three-Year Annualized Forecast: 2% increase - Boston
Average Home Price: $326,031
12-Month Forecast: 1% increase
Three-Year Annualized Forecast: 2% increase
“The big difference between Florida and Southern California … is people are moving into Southern California, but they’re not moving to Florida,” asserts Winzer. “It was speculative retirement and vacation condos–things that were bought by people not living there and now not moving there, wanting to sell their empty condos because they can’t rent them out.”
http://www.forbes.com/2011/01/21/cities-home-values-prices-real-estate-personal-finance.html?boxes=Homepagelighttop
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Home Market Heats Up in 2011
January 18, 2011 by admin
Filed under Real Estate Articles
Housing to heat up with inventory scarcity?
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Trulia Sees Positivity in Real Estate
January 13, 2011 by admin
Filed under Positive Real Estate, Real Estate Articles
* Consumer inquiries to real estate agents are up 54%
* Visits to the website and via mobile have grown by 66%
* Property views have grown by more than 50%
* Mobile traffic is up more than 400%
* On average, Trulia consumers view more than 2.2M properties per day which equates to more than 90,000 properties views per hour.
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Ending the Year Positively
December 30, 2010 by admin
Filed under Positive Real Estate, Real Estate Articles
- Image via Wikipedia
Housing starts will probably reach a three-year high of 739,000 in 2010, creating about 500,000 jobs and helping trim the unemployment rate to 9.1 percent, said David Crowe, chief economist for the National Association of Home Builders, in an interview with Bloomberg.
“This is an ugly economic cycle,” he said. “We need job creation to get people comfortable with buying a home. If they do that, we’ll create jobs that will reinforce that home buying and fuel additional job growth.”
The CEO of luxury home builder Toll Brothers is optimistic. “The recovery is here to stay,” said Douglas Yearley. “I think 2011 will be an improving year, but I think 2012 will be a big year for us.”
At Fortune.com Billionaire Warren Buffet is among those who believe this is a sign the slump is about to end. Buffet writes: “Prices will remain far below ‘bubble’ levels, of course, but for every seller (or lender) hurt by this there will be a buyer who benefits.”
Pending home sales rose again in November, with the broad trend over the past five months indicating a gradual recovery into 2011, according to the NATIONAL ASSOCIATION OF REALTORS ® .
The Pending Home Sales Index, a forward-looking indicator, rose 3.5 percent to 92.2 based on contracts signed in November from a downwardly revised 89.1 in October. The index is 5.0 percent below a reading of 97.0 in November 2009. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.
Lawrence Yun, NAR chief economist, said historically high housing affordability is boosting sales activity. “In addition to exceptional affordability conditions, steady improvements in the economy are helping bring buyers into the market,” he said. “But further gains are needed to reach normal levels of sales activity.”
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Fannie Mae Bullish Forecast
December 28, 2010 by admin
Filed under Positive Real Estate, Real Estate Articles
- Image via Wikipedia
“Despite rising mortgage rates, our forecast for home sales is stronger than the previous forecast, given our brighter economic growth and labor market outlook,” said Fannie Mae Chief Economist Doug Duncan. “We expect modest increases in home sales, despite recent interest rate rises, due in part to modest additional declines in home prices, and we expect people to take advantage of affordability as their employment and income outlook brightens.”
December 2010 Economic Outlook
Duncan says more positives than negatives for first time in a long time. Consumer spending is up. Improved demand for goods and services.
