Real Estate News


To misquote Mark Twain , “There are liars, damn liars and real estate statisticians! ” I guess every person even related to real estate is awaiting the numbers due out today on January’s existing home sales from the National Association of Realtors. Analyst are predicting a slight increase over the rate of December’s numbers for previously owned homes sold. This would indicate the housing market is holding it’s own despite some concern in the sub-prime lending industry. However, even a strong showing doesn’t necessarily mean that everything is coming up roses.

Many economist say that last years numbers were increased due to a loosening of the wallet in the lending market. With investors nervous due to the risk of default in the sub-prime market, analyst are expecting the pendulum to swing the other way. So if you are using those numbers as a forecasting tool , you may want to subtract as much as 3% or more from that total! What’s a person to do ?

Put more tomatoes in the soup ! What ??? That’s right, you should be increasing the value you offer your customers !

But shouldn’t I be tightening the belt , cutting cost, preparing for the storm ??… Well I didn’t say spend more but it’s always time to spend more wisely. How are you using your current resources and time ? Still blanketing the supermarkets and community bulletin boards with your business cards and hoping someone will see you ? Nothing wrong with that but speaking of statistics , what percentage of people went to the supermarket hoping a real estate agent left a card ? ( I haven’t done the research but I’m guessing that number is pretty small.) Now by comparison, what do you think the people that went to the search engines and typed ” Homes in xyz ” were looking for ? It darn sure wasn’t bread and milk! With podcasting, video tours and other tools available from Real Estate Blog Marketing, it’s time to fish where the fish are ! Turnkey blog marketing programs are available which offer any level of hand holding . So , what are you waiting for , pass the tomatoes!

What would you do with 77 Sq Ft?  Apparently, you have enough room for a shower, hot plate, sink, and bed.  I’ve heard of location, location, location many times from realtors but how can you live full time in 77 Sq. Ft?  The place also has no heating or AC.  Sounds like a place I’d like to spend the rest of my life!

Article 

North Carolina home sales budged .3% up from the August 05 level, totalling 13,582 residential units sold. The average existing home sales price grew 1% from the previous year rising from $217,552 to $219,446 according to statistics compiled by NCAR. Year to date, 96,610 homes have been sold statewide, up 6% from the same period last year. More….

Local Market Monitor reports that Las Vegas has an average home price of $297,000. Some analysts say that homes are overpriced by 28%. Another study by National City Bank and Global Insight states homes are 42% higher than they should be based primarily on four indicators,

1. Household Population Density

2. Price-to-income-Ratio

3. Interest Rates

4. Relative Income

More…..

Mortgage foreclosures in Florida are up. According to RealtyTrac, foreclosures jumped to it’s highest level in August with 16,533 properties entering foreclosure which was 50% more than July. Broward County ranked third in the nation in homes entering foreclosure, one for every 174 households. RealtyTrac also reported that 115,292 properties nationwide entered some stage of foreclosure up 53% from the same time last year. Article…..

InvestmentRiches.com and Signil Wealth Consulting Group announced that they are hosting first Investor Summit 2007 – Real Estate Market Forecast in Las Vegas, NV, November 10-12, 2006.    The summit will guide investors toward the top real estate markets in 2007 and will offer the attendees advanced analytical techniques for statistical real estate data.   Article…..

Home ownership which peaked at 69.2% in 2004 is showing signs of slowing. The lower rates resulted in high home ownership but with interest rates rising, people are leaning toward rental units once again. Data from apartment industry research firm RealFacts show that second-quarter occupancy rates rose in 28 of the 29 Metropolitan Statistical Areas it covers, and rents increased across each of the 29 metro areas. Article