RE/MAX Affiliates

HOME SALES RISE 7-10% IN 2012

Marty Tauger — Wed, 18 Apr 2012 17:56:25 +0000

According to the National Association of Realtors Chief Economist Lawrence Yun, the US Housing Market will get a shot in the arm in 2012 with home sales expected to rise 7-12% from 2011.

Lawrence Yun, NAR chief economist, said we’re seeing the continuation of an uneven but higher sales pattern. “The spring home buying season looks bright because of an elevated level of contract offers so far this year,” he said. “If activity is sustained near present levels, existing-home sales will see their best performance in five years. Based on all of the factors in the current market, that’s what we’re expecting with sales rising 7 to 10 percent in 2012.”

Locally, our housing market has seen inventories cut in half and an increase in home sales of 20% for the entire RANWW MLS as of April 17th, 2012. We are seeing the market of 2007 again and it is long overdue!

Squeaky Floors

Marty Tauger — Fri, 09 Dec 2011 19:57:00 +0000

Are squeaky floors holding you back from selling your house? Do you want to avoid paying a contractor to fix them? Check out this helpful article from the Wall Street Journal.

Posted by:

The Home Team

Selling your home in the winter

Marty Tauger — Thu, 01 Dec 2011 19:54:53 +0000

I was just reading a helpful article on USA Today which offered five tips for selling your home in the winter time. Simple yet effective actions will help you to sell your home even during this slow season. From keeping up on needed maintenance, staging your home to look especially warm and inviting and keeping your sidewalk neatly shoveled, to making sure the lighting in your home makes your rooms look bright and cheery and decorating tastefully for the holidays. And nothing can beat the smell of fresh baked cookies when a potential buyer walks through your door for the first time!

Posted by:

The Home Team

Starting to Recover

Marty Tauger — Thu, 11 Aug 2011 15:37:44 +0000

A Wall Street Journal article written on August 3rd begins, ”The number of homes listed for sale declined sharply in a number of U.S. cities during the second quarter, offering glimmers of hope that some housing markets are starting to recover.” To read the full article click here.

Posted by:

The Home Team

“Real Estate Intervention”

Marty Tauger — Tue, 19 Jul 2011 17:15:19 +0000

Mike Aubrey is a real estate agent who currently has a show on HGTV called “Real Estate Intervention”. He brings sellers face-to-face with the realities of the market and, with that foundation, then proceeds to teach them how to sell in the current market. CNN recently interviewed him and what he had to say was very upbeat and whether you are trying to sell or buy you will be encouraged. To watch the interview click here.

Posted by:

The Home Team

Owning is cheaper…

Marty Tauger — Fri, 08 Jul 2011 15:20:07 +0000

On first glance it may seem that in these hard economic times it would be cheaper to rent for awhile until the market recovers but if you do the math you find that it ends up being more affordable to own than to rent. To learn more click here to read an article from Business Week written by Chris Farrell.

Posted by:

The Home Team

Still possible to sell

Marty Tauger — Tue, 28 Jun 2011 16:15:00 +0000

Though the market is tough it is not impossible to sell during these hard economic times. Working with your broker to list your house at a realistic price, marketing in creative ways and being flexible with buyers will all work to your advantage. For more tips on selling in this market check out this article written by Dave Carpenter.

Posted by:

The Home Team

The Market in May

Marty Tauger — Wed, 15 Jun 2011 15:33:13 +0000

Year to year prices in May are still 7.2 percent below those of a year ago, but they’ve virtually the same as April’s on a year to year basis. However, the number of closed transactions and price also increased from April to May.

The month-to-month findings from the May RE/MAX National Housing Report gave the international real estate franchise a reason to hope the trend will continue.

Margaret Kelly, chief executive officer of RE/MAX, said positive monthly data could signal a trend that will manifest throughout the remainder of 2011. “It’s a very good sign that prices are starting to rise on a monthly basis,” Kelly said. “This may indicate that we’ve turned the corner and are headed in a positive direction.”

RE/MAX reported the number of closed transactions in May increased 3.3 percent over April, although sales remain 13.6 percent below a year earlier. RE/MAX blamed problems getting financing, poor appraisals and unemployment seem to be the hindrances to recovery.

In May, 42 of the 53 metropolitan markets surveyed by RE/MAX experienced a monthly rise in transaction volume, with 15 markets seeing double-digit increases. Five metro areas witnessed an increase in sale volume compared to a year earlier. Phoenix sales rose 10.9 percent compared to May 2010, Miami sales increased 10.2 percent, Las Vegas sales rose 9.1percent, Tampa, Fla., increased 3.5 percent and Providence, R.I., sales climbed 1.8 percent.

The average amount of days a home spent on the market in May declined to 94 days. Time spent on the market has been consistently decreasing since the beginning of the year, RE/MAX said. The company reported a housing inventory equal to nearly 7 months supply, down from 8.5 months in May 2010.

From Real Estate Economy Watch

This blog post brought to you by

The Home Team

Double Dip in the Housing Market?

Marty Tauger — Tue, 10 May 2011 15:35:38 +0000

The recession three years ago created issues in the housing market, stock market and employment. How do these markets recover and are we in for another recession?

For a three and a half minute update on the current housing market follow this link.

Posted by: the Home Team

Market Conditions

Marty Tauger — Mon, 25 Apr 2011 16:00:08 +0000

President Obama is quoted as saying that housing is “probably the biggest drag on the economy right now” when answering a question submitted during the Facebook town hall event last week. The individual from Virginia who submitted the question asked what the President could do to “relax the policies that are disqualifying qualified home buyers from owning their first home” and “assure the low to moderate home buyers that they will have the opportunity to own their first home“. *

Alright, we’re all aware that housing is an issue in the economy at present but focusing on the problem and complaining about it won’t fix the issue. So, if the President isn’t going to do anything to fix it what can you, an American citizen, do to help? First, lets take a moment and focus on the positive elements of the current market conditions: There is good news for sellers — there are more buyers in the current market and fewer houses for sale making the chance of selling rise. There is also good news for buyers — the conditions for buying are prime, since the the people who are selling are motivated to sell and the properties values are decreased there are bargains to be found everywhere.

In an article from April 20th Dawn Wotapka from The Wall Street Journal writes, “…there’s still hope for the spring selling season if consumers jump on bargains.”

We have to keep things moving in the market in order for it to improve. We will get no where if everything sits still. So, if you’re looking to buy, by all means buy! There are opportunities all around and help waiting to be offered you in your search for a home. More buyers in this market will draw out more sellers who may have previously been discouraged from selling before. Working together we can help our economy to heal.

Posted by: The Home Team