3 of 4 Home Owners Agree Prices Going Up
May 15, 2009 by admin
Filed under Positive Real Estate
Three out of four U.S. homeowners think the worst is over in the housing market.5% in survey think worst is over in housing slump.
And half of the homeowners in Southern states – including Texas – say home prices will stabilize in their areas in the next six months, according to a new survey by Zillow.com.
Researchers for the Internet real estate marketing company quizzed almost 1,400 homeowners around the country in early April about where they thought the housing market was headed.
More related Positive News
Real Estate The New Gold?
March 23, 2009 by admin
Filed under Positive Real Estate
Financial News asks if greed is starting to take over fear in the real estate market? Gold has been going up up up because of fear. And the author believes that the tea leaves in real estate all point to the time to buy is now. Recent news certainly may indicate a bottom.
Stocks today have jumped on news that the Fed will help banks remove bad as setts from their books which should help credit to get a little looser. Last week the Government issued a better than expected housing report and last month surprised many with an increase in sales.
Something is strikingly clear and should be the mantra for anyone in real estate sales. The Fed is printing money up like a newspaper. To the tune of 3 Trillion bucks last I counted. (there is a visual for ya). With all the cash floating around we can be certain that there is a pretty good chance that we will see 70′s style inflation in a couple years. That means that the buyers who buy now where money is almost free to borrow(big if is can one qualify I know but the above news hopefully should help) and prices are super affordable will benefit the most. Because those holding real estate in the next two years might just see the most meteoric rise in home prices that we have ever experienced.
And this a recent Press Release from Move.com states that 23% of Americans plan to move soon! Has there ever been a more favorable time to buy a home in this lifetime?
The American Dream of white picket fences remains intact despite economic conditions. 23% of Americans plan to buy a home in the next five years with half of them making a move in the next two years, according to a new survey commissioned by Move, Inc., the leader in online real estate and best known for Move.com and Realtor.com.
Notable Findings:
Americans are taking action: From reducing discretionary spending to pay their rent or mortgage to working with lenders to modify their loans, Americans are focused on protecting their assets.
First time home buyers have first mover advantage: Up from 41% (according to NAR research in 2008), 53.5% of those planning to move are first time home buyers. And why not – they can get more for their dollar and take advantage of tax credits from the government. In fact, 18.1% of first time home buyers are looking to move this year to take advantage of Obama’s $8,000 tax credit.
Affordability means bigger dreams: Today’s homeowners like the idea of getting more bang for their buck. When asked about the one thing their dream home would have 38% wanted MORE… more space, more rooms, a bigger yard…
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Good News On the Housing Front
January 30, 2009 by admin
Filed under Florida, Positive Real Estate
Existing-home sales up and inventory down. Things seem to be evening out in the ole supply and demand.
~Existing-home sales jumped 6.5 percent
~Total housing inventory at the end of December fell 11.7 percent to 3.68 million existing homes available for sale, which represents a 9.3-month supply at the current sales pace, down from a ~11.2-month supply in November.
~Single-family home sales: rose 7 percent to a seasonally adjusted annual rate of 4.26 million in December from a level of 3.98 million in November.
~Existing condominium and co-op sales: increased 2.1 percent to a seasonally adjusted annual rate of 480,000 units in December from 470,000 in November.
~Homes sales in the Midwest increased 4.0 percent in December to a level of 1.04 million.
Homes Sales in the South rose 7.4 percent to an annual pace of 1.74 million in Decembe
~Homes sales in the West jumped 13.6 percent to an annual rate of 1.25 million in December and are 31.6 percent higher than a year ago.
NAR Housing wizard Yun said the market is actually “underperforming” and hurting the broader economy.
“We’ve added 25 million people to our population over the past decade and housing affordability conditions are the best we’ve seen since 1973, but household formation is much lower than expected,” he said. “Consequently, there is a pent-up demand which could be unleashed with the right stimulus, including a non-repayable home buyer tax credit. The Obama administration and Congress need to move fast to stimulate a spring sales upturn which will help to stabilize home prices and set the foundation for a sustainable economic recovery.”
This is news to get to your fence sitter buyers.
