March 2012

Found 24 blog entries for March 2012.

HOMEOWNERSHIP: REPORTS OF ITS DEATH ARE EXAGGERATED

This headline was posted by the KCM Crew, authors of a blog for a real estate website called, “Keeping Current
Matters.” It’s a great name for a blog, because in real estate, keeping current does indeed... matter.

The above mentioned article randomly addresses the many negative articles regarding real estate, many of which
have been published in local southern California papers.  This newsletter, although not political, strongly
disagrees with scare tactics and negative ploys designed solely to sell papers. 

Local papers would have you believe that the sky is, in fact, falling; real estate will never recover and will
never be the same.   Hardly. In fact, pick up a copy of the recently released Fannie

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Matthew and Carina Hensley offered $10,000 more than the asking price for a three-bedroom house in suburban Seattle, then lost out to one of seven other bidders.

 

Bidding wars, absent from most parts of the U.S. residential market since its peak in 2006, are erupting from Seattle and Silicon Valley to Miami and Washington, D.C. The inventory of homes hovers close to a six-year low, while an increase in jobs and record affordability are tempting more buyers. The number of contracts to buy previously owned homes jumped 14 percent in February from a year earlier, the National Association of Realtors reported yesterday.

“We understand there is going to be fierce competition in the offers made for your house but Carina and I both felt very strong about

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Matthew and Carina Hensley offered $10,000 more than the asking price for a three-bedroom house in suburban Seattle, then lost out to one of seven other bidders.

Their $270,000 proposal last month came with a family portrait and a letter introducing the couple, their eight-month- old daughter, Harper, and their desire to build a family in the Renton, Washington, house with a yard backing onto a woody grove.

Bidding wars, absent from most parts of the U.S. residential market since its peak in 2006, are erupting from Seattle and Silicon Valley to Miami and Washington, D.C. The inventory of homes hovers close to a six-year low, while an increase in jobs and record affordability are tempting more buyers. The number of contracts to buy previously owned

Read Full Post »

Matthew and Carina Hensley offered $10,000 more than the asking price for a three-bedroom house in suburban Seattle, then lost out to one of seven other bidders.

Their $270,000 proposal last month came with a family portrait and a letter introducing the couple, their eight-month- old daughter, Harper, and their desire to build a family in the Renton, Washington, house with a yard backing onto a woody grove.

Bidding wars, absent from most parts of the U.S. residential market since its peak in 2006, are erupting from Seattle and Silicon Valley to Miami and Washington, D.C. The inventory of homes hovers close to a six-year low, while an increase in jobs and record affordability are tempting more buyers. The number of contracts to buy previously owned

Read Full Post »

Matthew and Carina Hensley offered $10,000 more than the asking price for a three-bedroom house in suburban Seattle, then lost out to one of seven other bidders.

Their $270,000 proposal last month came with a family portrait and a letter introducing the couple, their eight-month- old daughter, Harper, and their desire to build a family in the Renton, Washington, house with a yard backing onto a woody grove.

Bidding wars, absent from most parts of the U.S. residential market since its peak in 2006, are erupting from Seattle and Silicon Valley to Miami and Washington, D.C. The inventory of homes hovers close to a six-year low, while an increase in jobs and record affordability are tempting more buyers. The number of contracts to buy previously owned

Read Full Post »

Matthew and Carina Hensley offered $10,000 more than the asking price for a three-bedroom house in suburban Seattle, then lost out to one of seven other bidders.

Their $270,000 proposal last month came with a family portrait and a letter introducing the couple, their eight-month- old daughter, Harper, and their desire to build a family in the Renton, Washington, house with a yard backing onto a woody grove.

Bidding wars, absent from most parts of the U.S. residential market since its peak in 2006, are erupting from Seattle and Silicon Valley to Miami and Washington, D.C. The inventory of homes hovers close to a six-year low, while an increase in jobs and record affordability are tempting more buyers. The number of contracts to buy previously owned

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The Challenge of Buying in Today’s Market

Inventory is low
            Available homes is at the lowest point in over 6 years
            Was 15 month supply in 2007 (Buyers Market)
            Now 1.7 month supply in 2012 (Sellers Market)

Demand is high
            Highest level of sales since 2006
            Multiple Offers

Appraisals are conservative
            Low comps due to distress sales
            Banks lending conservatively

Multiple Offers are Common
            Buyers underestimate the market
            Investors are buying all the properties they can

 

What you need to know:
You will be…

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Economic Indicators Show Uptick
By Tiffany Hsu
RISMEDIA, Monday, March 26, 2012— (MCT)—Does the economic recovery actually have legs? Long ones, according to the Conference Board, whose index of leading economic indicators (including jobless claims) continued to perk up in February in the biggest increase in nearly a year.

The index, which includes improving measures such as income and sales, was up 0.7 percent last month to 95.5 after rising 0.2 percent in January and 0.5 percent in December. That’s the most substantial advance in 11 months and the highest point since June 2008.

Fueling the uptick: a promising jobs market, with the unemployment rate at a three-year low and first-time claims for jobless benefits falling last week to a four-year
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The Challenge of Buying in Today’s Market

Inventory is low
            Available homes is at the lowest point in over 6 years
            Was 15 month supply in 2007 (Buyers Market)
            Now 1.7 month supply in 2012 (Sellers Market)

Demand is high
            Highest level of sales since 2006
            Multiple Offers

Appraisals are conservative
            Low comps due to distress sales
            Banks lending conservatively

Multiple Offers are Common
            Buyers underestimate the market
            Investors are buying all the properties they can

 

What you need to know:
You will be competing against other Buyers
You might need to pay above “appraised value”
You will most likely be buying a home “as is”
You’ll need

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Orange County’s housing market speed — by one measure — quickened 8.2% in the past two weeks and sped up 48.8% in a year.

The latest Orange County home inventory report from Steve Thomas and ReportsOnHousing.com — data as of March 15 includes these thoughts …

Here’s the big secret: the housing market is literally on fire and homes are flying off the market. Further, the housing inventory is running on empty; the foreclosure and short sale distressed inventory is at a low not seen since they started flooding the market back in 2007; and, the last time demand was this hot in the month of March, it was the tail end of the housing bubble, 2005. Why is the housing market such a big secret? All of the major housing indices are based upon closed sales.

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