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HomeRun Homes is a centralized marketplace which helps people Find or Sell a Rent to Own Home, both Nationwide and Globally to the thriving Rent to Own Market. http://www.lease2buy.com
Showing posts with label Georgia. Show all posts
Showing posts with label Georgia. Show all posts

April 27, 2011

Confusion Stemming From New Residential Sales Figures

Good Morning,

   Happy mid-week to everyone.

   This past Monday, the figures were released for New Residential Sales for March, and the numbers showed us better than an 11% surge from February, but almost a 22% drop from March of 2010.

   Do these numbers confuse you? If so, you're not alone.

   Katie Severance of RE/MAX Village Square, thinks that the sales figures are, "confusing to both buyers and sellers who are trying to gauge where the market is.". She adds that, "on the one hand, they reflect that home prices have continued to fall. But, on the other hand, they show that the "pace' of home sales is actually up."

   Severance says that, "What they actually reflect are two things", which she says, "All sales figures are spotty depending on the region. Whether numbers are slightly up or down, we continue to "skip along the bottom and if we are not yet at the bottom, we're not too far off." The second item piece is that, as she says, "The pace of sales are up because sellers are pricing more realistically and motivated buyers know that mortgage interest rates will climb and that waiting for prices to fall lower may just offset the rise in interest rates - making the timing of their purchase a 'wash'. If they wait too long, interest rates will climb high enough where - at a certain point - they can actually afford less house than they can today."

   "While the increase in March, from February, is nice, it is still well below last year", says L Lane Bailey of Diamond Dwellings Realty, and adds that, "Last year was somewhat of a bump because of tax incentives in the market, but the real bump in closed sales wasn't until closer to the May/June time frame last year. Before we can call an end to the housing slump, we need to see a few months of strong sales strung together."

   Bailey says that their market area, which is Gwinnett County, Georgia, is, "seeing some pockets and price ranges that are reasonably strong, but others are still lagging." Bailey says that, "Luxury housing is still quite weak, with most of the sales prices considerably lower than a couple of years ago, and down 25% from what they might have fetched even a year ago."

   Alexis A. Moore, Vice President of Town Center Realty Group, says that, "Borrowers still find it difficult to obtain loans and sellers are still faced with difficult times when selling their homes. Those of us in the real estate industry know that working in this climate and closing a deal is no piece of cake", and adds that, ""The market is still very soft at least here in Northern California"

   "With the low rates, first time home-buyers can have a heyday in the market. Investors are also snapping up rental properties at very favorable prices. Some homes are selling at a 40% discount compared to recent tax appraisals.", says Bailey. Moore says that, "Any positive change is a good one and I always try to stay positive finding new ways to work with my buyers and sellers."

   What are your thoughts on the New Residential Sales figures?

Have a Great Week, and Happy Rent-to-Owning !
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com

January 24, 2011

Running Out of Homebuyers? Are We Really?

Hi Everyone,

   Welcome back and hope you had a great weekend. This is a pretty big week, with four major housing indicators that are due to be released, which are as follows:

* 1/25 (Tuesday) 9:00 AM: S&P/Case-Shiller Home Prices
* 1/25 (Tuesday) 10:00 AM: FHFA Monthly House Price Index
* 1/26 (Wednesday) 10:00 AM: New Residential Sales
* 1/27 (Thursday) 10:00 AM: Pending Home Sales Index

   We'd like to thank everyone for their fantastic feedback regarding our Blog Post from Friday January 21st, titled, "A Funny Thing Happened on The Way to a Real Estate Deal". As we have mentioned to several of you, we will be planning a new edition of that story line with all new "Funny Real Estate Stories" (we are accepting submissions via E-mail)

   I came across a very interesting story to share with you, and the title really grabbed my attention; "The Eight States Running Out of Homebuyers". In this 24/7 Wall St article (written by Douglas A. McIntyre, Michael B. Sauter and Charles B. Stockdale), the authors state that, "The devastation in some regions will never be repaired.", and they point to population desertion, jobless rates, and the eventual possibility that, "Some homes will be torn down in these pockets of high foreclosures in the hopes that reducing supplies will boost prices."

   The states listed in this article were Michigan, Nevada, Arizona, California, Illinois, Georgia, Oregon, and Florida, and in the article, the full breakdown of each state along with the sources for the data are provided.

   This is indeed a very frightening and an eye-opening story. It is also a sad story to hear of towns literally "dying".

   Do you live in any of the states mentioned? If so, what is your take on this story? We'd love to hear an inside scoop from Realtors, investors, homeowners, and home buyers.

Have a Great Week, and Happy Rent-to-Owning !
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com

TAGS: #homeprices #realestate #realtor