Don't hold out for the 'perfect' home
Anecdotal evidence suggests that we're moving into a summer slowdown. It's not unusual for the home-sale market to begin to slow during July and August, when many real estate agents and buyers are on vacation -- those months, though, still tend to have higher sales than most other months. The market often picks up again after Labor Day, and October can be a good month for home sales.
A slower market shouldn't deter you from beginning or continuing your home search, as long as you have realistic expectations. Some real estate agents advise their seller clients to hold off on marketing their homes in August. This means there might be a slowdown in new inventory coming on the market and fewer new listings for you to consider.
Patience is the name of the game in today's real estate market. There are many uncertainties about where the market is heading. Many economists think we've hit bottom, price-wise. But we may not see a significant improvement in home sales for several years.
Buyers need to understand that they could see lower prices ahead, followed by improved market conditions. However, a sustainable recovery will depend on a strong local economy with sufficient job growth to fully stabilize the housing market in your area.
Your referrals are what create and maintain my business. I want to be your realtor and hope to grow our relationship into a long standing friendship. I am your guide to many useful resources so don't hesitate to call me today!
Tuesday, August 23, 2011
Tuesday, August 16, 2011
Real Estate Wealth Effect Hurts US
Falling home values have stopped homeowners from taking a family vacation this summer, completing a home improvement project or making a big purchase depressing the overwhelming majority of Americans, according to a new Housing Predictor opinion poll.
The impact of the "Wealth Effect" related to the real estate crash is being felt by homeowners, who are cutting out vacations at the beach or mountains, a trip abroad, buying a boat and other big purchases. More than 3 out of 4 homeowners are making sacrifices and it’s effecting the way they feel about themselves with more than one out of four owing more on their home than it’s valued at in the current marketplace. Home values are still declining in the majority of markets.
The HousingPredictor.com survey clearly indicates that the large majority of Americans are directly affected by the drop in home values. The foreclosure crisis is pressuring home values in all but four states. Less than one out of four surveyed said they were not impacted by declining real estate values known as the Wealth Effect.
Many areas of the U.S. have seen home values decline five years, including the hardest hit states like California, Florida, Nevada, Ohio and Michigan. But states that weren’t widely marketed ALT-A and subprime mortgages are doing much better in terms of coping with the fall-out of the crash, many of which are listed in the updated best 25 Housing Predictor market list.
Housing Predictor regularly surveys visitors to its website on important issues related to real estate to get a pulse on how consumers feel and forecasts more than 230 local housing markets in all 50 U.S. states and keeps visitors up to date on real estate news and mortgage rates.
The impact of the "Wealth Effect" related to the real estate crash is being felt by homeowners, who are cutting out vacations at the beach or mountains, a trip abroad, buying a boat and other big purchases. More than 3 out of 4 homeowners are making sacrifices and it’s effecting the way they feel about themselves with more than one out of four owing more on their home than it’s valued at in the current marketplace. Home values are still declining in the majority of markets.
The HousingPredictor.com survey clearly indicates that the large majority of Americans are directly affected by the drop in home values. The foreclosure crisis is pressuring home values in all but four states. Less than one out of four surveyed said they were not impacted by declining real estate values known as the Wealth Effect.
Many areas of the U.S. have seen home values decline five years, including the hardest hit states like California, Florida, Nevada, Ohio and Michigan. But states that weren’t widely marketed ALT-A and subprime mortgages are doing much better in terms of coping with the fall-out of the crash, many of which are listed in the updated best 25 Housing Predictor market list.
Housing Predictor regularly surveys visitors to its website on important issues related to real estate to get a pulse on how consumers feel and forecasts more than 230 local housing markets in all 50 U.S. states and keeps visitors up to date on real estate news and mortgage rates.
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