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Peace of Mind: Your Realtor Contributions

In an increasingly technological world, there are few industries that thrive on personal relationships like real estate.
The internet has torn down business model after business model, rendering them ineffectual and useless. Online giants have stormed the gates of the brick and mortar and middleman businesses alike, leaving cable tv, encyclopedias, print newspapers, and perhaps synonymous with this phenomenon, video rentals.
These days, the only time I hear someone mention the word blockbuster it is either preceded by the word summer and used in a movie context or it carries with it a connotation akin to going the way of the dodo. And the internet is responsible.

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One Hour in the Real Estate Market

We recently changed our clocks in recognition of daylight savings time. For many people, adjusting to the new schedule can be cumbersome, particularly when we spring forward because we “lose” an hour of sleep. Anyone who has had small children in their life knows the struggle this poses all too well. There are a lot of activities in a day, and an hour of displacement can throw a wrench in the works. We’re halfway through the week now, so hopefully everyone has hit a rhythm on the new schedule. Did you know how much activity takes place in the housing market across the country each day? Much like this post on an hour in the housing market, we’ll lay out some of the numbers, but this time we’ll reference the previous numbers too. If you’re an advocate for the US housing market or a homeowner, you’ll like the direct comparison… At this time …

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January 2017 Existing Home Sales at Decade High

Sales of existing homes during the month of January 2017 reached the highest point since February 2007, according to the National Association of REALTORS® (NAR). “Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, expanded 3.3 percent to a seasonally adjusted annual rate of 5.69 million in January from an upwardly revised 5.51 million in December 2016. January’s sales pace is 3.8 percent higher than a year ago (5.48 million) and surpasses November 2016 (5.60 million) as the strongest since February 2007 (5.79 million).” There is often lot of speculation and extrapolation on the numbers where the economy is concerned, and for 2017, it was off to an early start… “Combined with missed expectations for existing home sales data earlier this week, 2017 so far doesn’t seem to be shaping up to be a banner year for homebuyers.” -Svenja Gudell, Chief Economist for Zillow Even in the statement, …

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Builder Confidence Highest in 11 Years

In a recent Ask the Economist article in DSNews, Robert Dietz, Ph.D. was featured, and he discussed multiple factors contributing to builder confidence in the real estate world – and he has the data to back it up. Dietz is Chief Economist and Senior Vice President for the National Association of Home Builders (NAHB). When asked to comment on the NAHB’s housing market index reflecting an 11-year high in builder confidence, Dietz said that builders are optimistic about the prospect of less regulation after the election. “One of the key concerns is the rise in regulatory burdens that adds to the baseline cost of a home. Earlier this year, NAHB released a paper that estimated that regulatory costs associated with land development and residential construction have increased 29 percent over the last five years and make up nearly a quarter of a home’s final sales price.” While it’s really just speculation at …

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The Connection Between Home Prices & Family Wealth

Home ownership has long been associated with individual wealth. In fact, there are few endeavors an individual can undertake that have as drastic an impact on your net worth as owning real estate. In this blog post, Brandon Turner of lists four ways real estate can help you create some serious net worth.

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Existing Home Sales Reach 10-Year High

According to data provided by the National Association of REALTORS, sales of existing homes across the country have hit the highest point since 2007. In the West, Northeast, and South, this portion of the real estate market has seen month over month as well as year over year gains. This has been a trend for a while, and we’ve written about the potential bull market real estate in the past. This just solidifies the previous speculations. Key Points:  Sales of existing homes reached the highest pace in a decade at a seasonally adjusted annual rate of 5.69 million. January marked the 59th consecutive month of year-over-year price gains as the median home price rose 7.1% to $228,900. NAR’s Chief Economist, Lawrence Yun had this to say, “Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to …

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Love and Mortgage

With Valentine’s Day upon us, love is looming in the air… While Cupid’s arrow finds its mark in the hearts of couples young and old alike, it appears as though there’s another side effect that we can predict as well: buying a home. According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers,married couples once again dominated the first-time homebuyer statistics in 2016 at 58% of all buyers. It is no surprise that having two incomes to save for down payments and contribute to monthly housing costs makes buying a home more attainable. via Real Estate with Diane Castro-Perez While married couples make up nearly 60% of all first time homebuyers, single women and men also play into the mix… This is from our brief blog post at Simplifying the Market. That article ends by saying, “You may not be that much different than those who have already …

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Is the Housing Market Bullish?

  The housing market is not very different from the stock market and it also has its ups and downs. However, many people believe there is a predictable annual seasonal cycle in the housing sector, and they are not off the mark. In the coming months, as the cold weather turns warmer and the spring flowers make their first appearance, you can expect to see a “bullish” housing market characterized by a hopeful and buoyant buyer base. There is a biting lack of inventory in the market at present, leading to the slowness in the market. If you subscribe to the view that there is a discernible seasonal variation in the housing market, then you can expect to see more activity in the spring. Buyer demand is traditionally at its lowest in the winter months. This is especially true of regions that endure a severe winter season with sub-zero temperatures, …

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The Difference an hour makes in the United States Housing Market

Perhaps you already know an extra hour of sleep can make a huge difference. In the same way, an hour in the housing market makes a difference. Each hour in the United States will register sales of approximately 624 homes, 118 homes will regain positive equity, and the value of median homes will go up by $1.84. For a home seller/owner, this is clearly good news that each hour your property will regain positive equity. For home buyers, this means that the more you delay, the more the payment for your home. Since 2007, 2015 was the best year in the housing market, and the projections here are that 2016 will be even better. With the US economic growth chugging along, the rate of employment will keep increasing. That means that home buyers will have more funds coming in, and they will have the power to upgrade to a new …

House Hunting Made Easy(Er) With These Simple Tips

Purchasing the piece of real estate that is right for you will always be filled with tough decisions and compromises. You may not always get what you want or it won’t be in your price range. Don’t let it all get you down. The tips in this article can serve as a great starting guideline to help put you on the right path to purchasing the property that is right for your needs. When you are interested in buying a home you should always know your credit score. Keep on eye on your credit report so that you will know if anything unusual pops up. If something on your report wasn’t paid or there is a error, it can affect your credit score. Even the littlest thing can cost you points and you don’t want to be turned down for a loan because of 2 points. For more information, check …

With Elevated Home Prices Do We Expect a Bubble?

In the last five years, home prices across the country have been increasing by leap and bounds. According to the Economist, a 17% increase has been witnessed in the last three years alone. The rising prices have raised concern among some speculators and analysts that we might be headed for a housing bubble. “Should we then be worried of the home market crash?” the answer is no. Unlike the previous housing boom, which was encouraged by a lenient lending system, the rise in home values today is as a result of the forces of demand and supply. Simply put, there are many buyers on the market than there are sellers. According to a home sales report by the National Association of Realtors, the constrained housing supply is as a result of low inventory levels. The report indicates a four-month supply of inventory which means a less than four month period …