Hope you have a nice and relaxing Labor Day planned for today. I didn't plan on laboring today, however, I consider this a labor of love. Too corny? Please accept my apologies as it is quite early here !
A few things worth mentioning:
1. Interesting News: A good friend of mine brought the following article to my attention, titled, "No New McMansions Sold in July", which states that, "Not a single new home priced above $750,000 sold in July or June", and, "As for houses priced between $500,000 and $750,000, only 1,000 new units were sold last month. When it comes to new homes that did find buyers in July, more than 80% were priced under $300,000." Chew on those numbers....what does it mean for new homes that were built and were priced over $750,000? How about the custom builders out there who built those $1 Million or higher-priced "McMansions"? Re-read this paragraph and realize the true state of things, and how the economy appears to be hitting the higher-end consumer, who usually weather the economic storms quite well. Thanks to my friend for letting me know about this story so that I can share it with my readers.
2. General Economic News: No housing-related releases are planned for this week, however, we need to keep an eye on Obama and the next round of modifications he is planning for upside-down homes (where your mortgage is greater than the value of your home).
3. Website News: You now have the ability to delete your Ads and replace them with new ones. You would log into your account via the Control Panel, and then click "Edit Ads", and click delete.
More news to come this week!
Have a Great Labor Day, and Happy Rent-to-Owning !
