Real estate practitioners rise in public opinion, poll finds

June 8, 2012

Finally!!

Realtors are getting a little better reputation in the public eye. Most of us work hard and care more about their clients well being than we get credit for. Im my world, its not about the money, its about doing the job right, watching out for the best interests of the client in all facets.

Anyway. read the article linked below and Im proud to be a Real Estate professional

 

Cal Williams

Century 21 Realty Services.

 

Real estate practitioners rise in public opinion, poll finds.

Advertisements

5 Hot Design Trends in New Homes

June 5, 2012

Here is an interesting blog article from Realtor Magazine.

Cost savings are a major factor , according to the National Association of Builders, in the way new homes are being designed.

 

 

5 Hot Design Trends in New Homes.


4 REASONS WHY NOW IS THE BEST TIME TO BUY REAL ESTATE

March 22, 2012

In September  1972  the Prime Rate , http://en.wikipedia.org/wiki/Prime_rate , was 8- 10% and mortgage rates were hovering around 8-10%.

In 1972-3 Nixon was facing the beginning of the Watergate scandal that would bring the president and the country to its knees. The Vietnam War raged, and global tensions were epitomized by terrorists’ murder of 11 Israeli athletes at the Olympics in Munich.  Alabama Gov. George Wallace was shot while campaigning for the presidency. Times were very challenging. I was only 6 , but i do read books.

Fast forward to 2012. Times are once again very challenging and I don’t need a book to tell me that. But when historians and writers look back at the years around 2011-2012, what will they write about?

What will these days be remembered for?

People will look back on 2011-2012 for different reasons than we look back on 1972-3.  People will look back on these years for a few reasons. We got Osama Bin Laden, the price of gas, MORTGAGE INTEREST RATES and real estate is selling for a 20% discount. I’m sure there will be other things but lets focus on REAL ESTATE.  Why is now the best time to buy?

#1   Inventory high = Prices lower.  Market time is growing longer for a sale. Fewer buyers are competing for the available properties.  Many foreclosures are hitting the market. These factors are causing downward pressure on prices NOW!.

#2 Real Estate is on sale!  Prices across the country are down roughly 15-20% across the board from only a few years ago.  This is a sale! Real estate is on sale. That has not happened in my lifetime and who knows if it will ever happen again. Take advantage of a sale on real estate NOW!

#3   Interest rates are LOW.  Mortgage rates are at historically low levels, still. Everyone knows this, and  people may be  used to hearing it. But no one really knows where rates go from here. Take advantage of what we have NOW, take advantage of the lowest rates I have ever seen.

#4   Buyers make the rules. IT’S A BUYERS MARKET. Buyers control many of the aspects of the real estate transaction right now. BUY NOW. Take advantage of the current conditions.

Remember, no one will know when the market has bottomed out and is rising until the bottom has already been hit and we are on the way up. You wont know when the market is at the lowest until we passed it.


TIPS FOR BUYING A FORECLOSURE

February 7, 2012

Visit houselogic.com for more articles like this.

Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®


National Association of Realtors posts October 2011 Housing Numbers

November 1, 2011

Housing took another hit last week with the National Association of Realtors® latest Pending Homes Sales Index report showing that contract signings fells 4.6 percent in September.

 

The silver lining? This rate is still 6.4 percent above last year at this time.

Lawrence Yun, NAR chief economist, said the housing market is being excessively constrained. “A combination of weak consumer confidence and continuing tight lending criteria held back home buyers, even though the private sector added nearly 2 million net new jobs in the past 12 months,” he said.

He continued, “America’s monetary policy is contradictory and confusing, where some consumers with the best financial capacity and top-notch credit scores pay higher mortgage interest rates,” Yun said. “The Federal Reserve evidently has been attempting to lower mortgage rates, yet more consumers are faced with taking out jumbo loans that carry higher interest rates.”

Yun says higher loan limits must be reinstated in order to start fixing this housing issue.

Regionally, the largest decline was seen in the Midwest, which feel 6.2 percent. This region, however, is still 12.3 percent higher than September 2010.

The next largest decline was in the South, which fell 5.5 percent and is just 5.0 percent above last year’s figures. The Northeast also feel nearly 5.0 percent (down 4.7) and is just 4.0 percent above last’s year sickly numbers. The smallest decline was in the West where rates declined just 2.1 percent. This region sits at 5.6 percent above September 2010.

We’ll keep you posted on the latest sales activity. For now, experts agree that reduced access to credit and a continued ailing jobs market are putting pressure on an already ailing housing market.


Why is the Real Estate market still down? Where are the Buyers? – ask the lenders.

October 14, 2011

Interest rates are at 40 – year lows  (AGAIN!) Prices are way down. There are many properties available. Real Estate is actually ON SALE! 20% OFF .

So why are the numbers so dismal and the real estate markets still slumping, to say the least

30-year mortgage rates fall below 4% for first time – Oct. 6, 2011.

One answer lies in the lenders rules for approving loans. Right now and for the past several quarters, we have had the best affordability conditions in decades for buying a home. But still existing home sales and new home sales are way down from the levels in 2005. According the NAR reserach, existing home sales dropped 3.5% in July of 2011 and pending home sales dropped by 1.3 percent.

 Lenders strict underwriting requirements are placing a huge drag on the real estate market. The average person does not have the credit score or the cash reserves required to buy. with the rates as low as they are, the lenders requirements must adjust to jump start the market. Lenders should also ease up on the credit scores required for certain loans. There has to be a happy medium between the lenders and the average person wanting to enjoy home ownership.


Do you own a John Deere Lawn tractor?

September 15, 2011

Visit houselogic.com for more articles like this.

Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®


%d bloggers like this: