There appears to be plenty of real estate people who believe they can succeed, as last week saw more housing numbers go through the roof. Existing Home Sales were up 4.2% in May to a 5.18 million unit annual rate, up 12.9% over a year ago. The median price climbed to $208,000, up 15.4% over a year ago, while average prices are up 11.2% over last year. The months' supply dipped to 5.1, all due to the faster sales pace, as inventories were up 7,000, increasing four months in a row. And the median time on the market for all homes was 41 days, down from 72 days a year ago.
Housing Starts were up 6.8% in May. Although most of the gain came from multi-family units, single-family starts were also up for the month and are now up 16.3% versus last year. The total
The last week of June is the seasonal peak of the US Real Estate market. After June 30, both supply and demand start declining through the end of the year. The time to sell a home (as measured in Days on Market DOM) starts climbing. Prices decline alongside, until the January 7 trough and the seasonal reset for 2014.
This phenomenon isn’t always clear, since most of the headlines report transaction data from several months ago (tomorrow’s Case Shiller announcement will be data from February, March, and April. And, FWIW, it’ll show the explosive price growth we experienced in the first quarter.)
But the seasonal peak is as clear as the air atop a Colorado peak, if you look at the right data.
A lot of people are wondering how the desires of consumers are changing now that we’re coming out of the recession.
The whole second-home industry has been predicated on Baby Boomers, although the industry is now crossing the threshold from Boomer to Generation X.
Boomers are becoming grandparents, and that their motivation for buying is often for extended family. On the other hand, Generation X is simply approaching the natural point in life where a second home becomes a feasible option.
What’s interesting, is the language used by the Baby Boomers compared to Generation X. Boomers often refer to their second home as a "vacation home," while Gen X typically calls it a "second home."
This distinction is important to them because they don’t see their resort
If you glance at the hands of the Yorba Linda girls water polo players, you’ll likely spot one of the sparkly rewards from their historic season: CIF championship rings.
The players received their hard-earned jewels last month, fulfilling an annual rite of passage for CIF championship team.
When high school squads win it all, players, and coaches, often get rings. The bonding with the treasure develops quickly after that.
The Mustangs’ CIF ring, with the blue “YL” and silver stones on top, rests on the index finger. But the connection between the players and their ring runs deeper than just fun outings and shinny appearances. The journey that the ring signifies means more to the players.
In only their third varsity season and fourth as a program, Yorba
This is a
real estate newsletter. It goes without saying that there is always an
advantage to selling or buying in almost any market, depending on personal need
and motivation. But right now?? A staggering 96% of Americans currently looking
in today's market, say home ownership is "very important." It is
particularly high for women and Gen X and Gen Y. Another 74% of those polled
said, "interest rates are at historic lows and now is a great time to
buy." But let's look beyond the hype of those who are enthusiastic, to see
if there are other signs that So Cal is in an upward trend and that the
recovery is more than momentary. We don't have to look far.
The end of
April and beginning of May have given us lots of ammunition. First off,
The real estate blog Keeping Current Matters wondered about that and reported
some recent reasons from a Gallup Poll. Not all the reasons are financial. In fact,
below are the 5 most compelling reasons to buy, financial/non-financial. First
let's look at financial: 1) See owning as an investment 2) Chance to build equity
and credit 3) Smarter than renting 4) More cost effective (3% interest and
leveraging money) 5) Financial security/stability. And now, non-financial: 1)
Belief in home ownership 2) Don't want to rent 3) Better for family 4) Ability to
do what you want with the property 5) Pride of ownership. Gallup went on to
give results that 8 of 10 of all people own or plan on owning property. Here is
their own quote regarding their
The Pacific West Association charity foundation recently launched "Opening Doors for the Men and Women in Uniform". This program will provide any quallified Unnited States Aremed Forces Veteran with cash for costs not covered by a VA loan in their home buying transaction.
July 23, 2013, at Anaheim Hills Golf Course. If would like to play or help out, please let me know.
Tony Leocadio Prudential California Realty 714-673-7363 www.agentx2.com www.fullertonhomesearch.com www.youragentgreg.com www.tonyleocadio.com
Federal Reserve officials have been trying to convince investors for weeks not to overreact when the central bank starts pulling back on its $85 billion-per-month bond-buying program. An adjustment in the program won’t mean that it will end all at once, officials say, and even more importantly it won’t mean that the Fed is anywhere near raising short-term interest rates.
Investors aren’t listening.
A wide range of indicators suggest that investors are starting to think the Fed might start raising short-term interest rates — now near zero — sooner than previously thought. Until recently many market indicators suggested investors expected the first rate increases in mid-2015, but now these indicators indicate investors think it could be sooner.