Posted in Market Stats, Real Estate News, Selling Info, tagged Housing Market Changes Five Years, Housing Market Changes Ten Years, RE MAX, RE MAX Allegiance, RE/MAX, RE/MAX Allegiance on July 31, 2009 | 1 Comment »
The following is a handy chart to show, perhaps, to prospective buyers who believe that purchasing a home is not a great long term investment. Even after the worst housing market ever, check out the gains over five or ten years.
The report is available in pdf here: Top 100 Housing Markets Changes.
source: Washington Business Journal
Posted in Winners, tagged Kiplinger Best Cities, RE MAX, RE MAX Allegiance, RE/MAX, RE/MAX Allegiance on July 30, 2009 | Leave a Comment »
Kiplinger recently published its2009 Best Cities List, which (this year) focuses on places that have stable employment plus the talent to create new, well-paying positions. Washington, D.C. ranked number 3 overall. Check out the entire list here.
Posted in Positive Economic News, Real Estate News, tagged Good, Good Economic News, Housing Market, Positive Economic News, RE MAX, RE MAX Allegiance, RE/MAX, RE/MAX Allegiance on July 28, 2009 | Leave a Comment »
U.S. single-family home prices rose in May from April, the first monthly increase in nearly three years, suggesting prices may be stabilizing, according to Standard & Poor’s/Case Shiller home price indexes Tuesday.
The annual rate of decline for the 10- and 20-city indexes improved for the fourth straight month, though prices have still tumbled by more than 32 percent from the peaks in the second quarter of 2006.
The index of 20 metropolitan areas rose 0.5 percent in May from April, after a 0.6 percent decline the month before, in contrast with the 0.5 percent drop forecast by economists in a Reuters poll.
The May monthly rise resulted in an annual downturn of 17.1 percent, although this was the fourth straight month that the rate of decline slowed. This follows a 16-month string of record annual declines starting in October 2007 and ending in January.
Maureen Maitland, S&P vice president of Index Services told CNBC Tuesday that the numbers do show a slight improvement in the housing market but there is still a ways to go.
“We are seeing some good numbers in sales and some recovery in housing, but home prices are still lagging and people don’t expect a full recovery until 2010,” said Maitland.
S&P said its index of 10 metropolitan areas rose 0.4 percent in May after a 0.7 percent drop in April, for an 16.8 percent year-over-year drop.
“To put it in perspective, this is the first time we have seen broad increases in home prices in 34 months,” David M. Blitzer, chairman of the index committee at S&P, said in a statement. “This could be an indication that home price declines are finally stabilizing”.
The 10 and 20-city indexes reported positive returns for the first time since summer of 2006.
“With the numbers we’ve seen on home sales starting to firm and now home prices stabilizing, we’re getting more evidence that the housing market may have hit bottom,” said Gary Thayer, senior economist at Wells Fargo Advisors in St. Louis, Missouri.
Posted in Positive Economic News, Real Estate News, tagged Housing Shortage Coming, New Home Sales, RE MAX, RE MAX Allegiance, RE/MAX, RE/MAX Allegiance on July 27, 2009 | Leave a Comment »
The mainstream media is finally beginning to catch on to what we’ve noticed for weeks: The housing market is coming back.
Yesterday’s unexpected news that new home sales jumped 11% in June, its highest gain since 2000, prompted the media to realize the worst may be over. The Associated Press was quoted as saying:
The report is another encouraging sign that the beleaguered housing sector is finally coming back to life. Last Thursday, the National Association of Realtors reported that home resales posted a monthly increase of 3.6 percent in June.
Additionally, the number of new homes available fell to the lowest level since 1998. I am predicting a housing shortgage within a few years.
Posted in Positive Economic News, Real Estate News, Selling Info, tagged Federal Housing Finance Agency, Home Prices, Housing Market, RE MAX, RE MAX Allegiance, RE/MAX, RE/MAX Allegiance, US Home Prices on July 27, 2009 | Leave a Comment »
Another reason for your buyers to get off the fence:
Average U.S. home prices have started to rise, according to a monthly report from the Federal Housing Finance Agency.
FHFA says U.S. home prices rose 0.9 percent from April to May. The biggest gains were in the battered Pacific region, where average prices were up 2.7 percent from the previous month.
Federal
“Revisions and volatility of the monthly index make it hard to draw any conclusions, but the seasonally-adjusted Home Price Index for the first five months of this year is up 0.3 percent or 0.7 percent on an annualized basis,” FHFA Director James Lockhart said in a statement.
FHFA’s monthly and quarterly Home Price Index is based on conforming mortgages that are purchased or backed by Freddie Mac and Fannie Mae.
from The Washington Business Journal
Posted in RE/MAX News, tagged CBS Chicago, Ed Curran, RE MAX, RE MAX Allegiance, RE/MAX, RE/MAX Allegiance on July 26, 2009 | Leave a Comment »
It’s no secret that the RE/MAX Balloon is the most recognizable symbol in real estate. Apparently, it’s a hit on weather reports, too. On July 3, Chicagoans got an eyeful of the RE/MAX Hot Air Balloon in the skies and on TV when CBS-TV meteorologist Ed Curran took a ride in the balloon. He delivered the morning weather report live from the balloon, which was filmed by the CBS2 helicopter crew as it glided in the Chicago skies.
Watch video of the RE/MAX Balloon ride (scroll down to the blog entry dated July 3, “Pure Flight”).
RE/MAX of Northern Illinois arranged the flight as part of the Lisle Eyes to the Skies Festival in Lisle, Ill. The RE/MAX Balloon was seen by thousands of festivalgoers during the July Fourth weekend. In addition to sending the flight footage and posts to Curran’s Twitter and Facebook networks, the balloon was also covered on the morning news.
Posted in Real Estate News, tagged Fannie Mae Loan Limits, FHA Loan Limits, Freddie Mac Loan Limits, RE MAX, RE MAX Allegiance, RE/MAX, RE/MAX Allegiance on July 25, 2009 | Leave a Comment »
A spending bill approved by the House Appropriations Committee would extend the temporary $729,750 loan limits for Fannie Mae, Freddie Mac and the Federal Housing Administration in high-cost housing markets through September 2010.
A nice start to something that should be made permanent.
Posted in Real Estate News, tagged America's Top States for Businesses, CNBC, RE MAX, RE MAX Allegiance, RE/MAX, RE/MAX Allegiance on July 24, 2009 | Leave a Comment »
Have a client wanting to open a business and live close to it? The chart at the end of the post should help them decide where to relocate. CNBC has ranked Virginia the Number One State for Business:
Virginia reclaims the title of America’s Top State for Business this year, squeezing past last year’s Top State, Texas, by a nose—just four points. Texas is still a business powerhouse—the Lone Star State still has the top Economy in the nation despite the falling price of oil, and its Transportation and Infrastructure remain second to none. But Virginia, always a solid performer across the board, managed just enough improvement in the right areas—like Economy (7 vs. 17 last year)–to regain the title it won in 2007.
Maryland ranked 27th. DC was snubbed, presumably because it is not a state.
See the entire list here.
Posted in RE/MAX News, Real Estate News, tagged RE MAX, RE MAX Allegiance, RE MAX Health Plus, RE/MAX, RE/MAX Allegiance, RE/MAX Health Plus, Realtor Health Insurance on July 22, 2009 | Leave a Comment »
Posted in Positive Economic News, Real Estate News, tagged Good Economic News, Marc Roth, Now Is a Perfect Time to Buy, Positive Economic News, RE MAX, RE MAX Allegiance, RE/MAX, RE/MAX Allegiance on July 20, 2009 | Leave a Comment »
Don’t forget to remind potential buyers of something that is obvious to real estate professionals: Now is the time to buy, but that opportunity may be slipping away.
For people who have a job and money, a dream house is within reach, writes Marc Roth, founder of Home Warranty of America and a columnist for BusinessWeek.
He points out that mortgage rates remain low, prices are still at historic lows, and the government is offering incentives for first-time homebuyers.
He also adds that the inventory of homes to buy is still large, but it is shrinking. According to the NATIONAL ASSOCIATION OF REALTORS®, the housing inventory peaked in November 2008 at an 11-month supply. At the end of May 2009, it had fallen to a 9.6-month supply.
Roth says anyone who dallies will miss a good opportunity to buy a first home at a terrific price or go shopping for a move-up property that is a great buy. Source:
BusinessWeek.com, Marc Roth (11/17/2009)
