Real Estate News- RE Recovery Underway

Real Estate

INFO THAT HITS US WHERE WE LIVE… Well, we can all finally enjoy some solid signs of recovery in the housing market. Tuesday we got the news Existing Home Sales were UP 3.4% in April to a 4.62 million unit annual rate. Sales are now UP 10.0% over a year ago. The median price is UP 10.1% from a year ago and the average price is UP 7.4% for the year.

This great news was followed on Wednesday with new single-family homes sales UP 3.3% in April to a 343,000 unit annual rate and UP 9.9% over a year ago. The months’ supply of new homes dropped to 5.1, although inventories rose a bit. The median price is now UP 4.9% versus a year ago and the average price is UP 5.1% for the year. No one expects a huge increase in sales right away, but as one economist put it, “The housing recovery is definitely underway.”

Courtesy of Nicole Walker, Sterling Bank

New Listing!

Real Estate
Lovely 3BR/2.5BA home plus bonus room and office/flex space. Thoughtfully designed with extra storage throughout, large bedrooms, oversized great room, top quality finishes & extremely well maintained. Check out the hardwood floors, extensive use of tile, gas fireplace with rock surround and hearth, alder cabinetry & wood trim throughout. Excellent location in great neighborhood, fenced backyard with patio & alley access to 2 car garage. This home is sure to please!
Offered at $313,900.
Click here for more details, photos and virtual tour.

Giving Your Home The Competitive Edge

Real Estate
Be Ready Before You Put Your Home on the Market
When you are getting ready to sell your home it is extremely important to start with the right price. Then do the little thing it takes to give your house for sale that competitive edge.
I hear way to often “let’s start out at this price because we can always come down”. The truth is in this market of competing with Short sales and Bank owned properties it is more important that ever to get your home priced competitively right out of the gate.
The other big mistake that I see sellers making is not putting that edge on their home before they put it on the market for sale. The following link is an article from the National Association of Realtors House Logic site that i found interesting about getting your home ready before you list it. http://bit.ly/aNcce3

REALLY? You’d rather RENT?

Real Estate
Why Would You Rent?
With the market conditions where they are today it is a perfect storm to jump into the real estate market.
I had this article sent to me by Tony LaLonde from PrimeLending. It puts it into simple terms of what the market was like 30 years ago compared to today. The monthly cost of owning a house is less today than in 1981 and the rents are over 4 times as much.
Check out the following charts.

Real Estate Update

Real Estate

INFO THAT HITS US WHERE WE LIVE… When people tell you the housing market isn’t showing many positive signs, here are some facts that may change their minds. As of January, the National Association of Realtors (NAR) reported the housing inventory of for-sale homes has fallen to its lowest level since March 2005 — 2.3 million homes, about a six-month supply. Meanwhile, total home sales rose 13% in the last six months, according to another industry survey.

The NAR also reports that sales of second homes in 2011 shot up to their highest market share since the height of the housing boom. This includes both vacation and investment homes. A survey of real estate economists and analysts reported home prices should stabilize this year, rebound in 2013 and accelerate in 2014. Finally, Freddie Mac’s weekly survey revealed that national average mortgage rates hit new all-time lows for 15-year fixed-rate loans and were just above the record low for 30-year mortgages.

Information courtesy of Nicole Walker, Sterling Bank.