All is well in your world, I hope!
Well, this week, the numbers were posted for both New Residential Construction and Existing Home Sales.
For New Residential Construction, Building Permits and Housing Starts were up, but Housing Completions were down for the period of Feb 2011 - Mar 2011, however, from Mar 2010 - Mar 2011, all 3 components were down dramatically
In terms of Existing Home Sales, the numbers trended up from February to March, but down from March 2010 through March 2011.
"I wasn't surprised by the recent the recent increase in new home construction, and existing home sales for three reasons", says Derek Morton, of Mountain View Title and Escrow. The first reason Morton gives is that, "People that lost their home to short-sale at the beginning of the downturn, are able to begin jump back into the market place if their credit is sufficient.". Morton names the second reason in relation to "fear", saying that, "As the economy begins to improve there is less fear about losing your job, so people are more willing to purchase a home." The third reason that Morton cites is that, "The price of land has dropped to a point that builders can now begin to compete with the price of foreclosures and shortsales.
Jared Martin, who is the CEO of Keystone Funding, a mortgage company helping providing pre-approvals so potential buyers can begin the home shopping process, says he was not surprised, and that they began, "seeing an enormous number of requests starting in January. So a lot of people starting the process, just not yet pulled the trigger. I think well see an even bigger increase in April....and again in May."Similar to what Morton mentioned above, Martin says that, "Were also not seeing the same worries we saw last year about employment. Most people seem more confident now in the stability of their job"
Steven, of Sophic, Inc., is also, "not surprised" by these figures, and he says that, "More and more people are taking a serious look at traditional homes and rethinking what their home should be.
What are your thoughts...were you surprised?
REMINDER - I'm on the Radio Again !
Tomorrow (Saturday Morning), April 23rd, at 8:30AM ET
I will be interviewed live on a local Cleveland (Ohio) radio station (1330 AM WELW), and the interview will also be streamed live at http://www.welw.com/programming/webcast.html. The broadcast is on this Saturday Morning (tomorrow), April 23rd, at 8:30AM ET. I'll be discussing Rent to Own Homes, along with the pro's and con's for both the Buyer and the Seller. The program is titled, "The Home Tool Box", and I am slated for some point during the broadcast (close to the beginning), I believe. As always, be sure to listen in for some great tips, and thanks for your support !
A Safe and Happy Easter and Happy Passover to those of you observing these Holidays
Have a Great Weekend, and Happy Rent-to-Owning !
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com