Good News- Nation Home Prices Have Risen over Last Years Figures.

By
Real Estate Agent with Keller Williams Realty CalBRE #01492138

REAL ESTATE ROAD TO RECOVERY!

Inventory Rate

Kristin Hamilton Sells Redlands CA

Home Price

The supply of homes measured in months on the market at their current pace was up during June compared to May. This is keeping with inventory levels typically rise during the summer months. Month's supply remained 24% below the peak of 12.5 months in July 2010 and 14% above April of 2010 when the home buyer tax credit was in full swing.
 
Kristin Hamilton Sells Inland Empire CA 
 
For the first time in a year, home prices are up year-over-year and month-over-month. This marks only the fourth time that prices have increased since June 2006. Home prices rebounded 8.9% in June with median home prices rising to $184,300. This is 0.8% above the year-ago level. Median home prices remain close to 2003-2004 levels. The combination of low prices and historically low interest rates means that home affordability is extremely favorable.
 
Mortgage Rates
 
Economic improvement typically spurs rising interest rates in order to rein in inflation. Although inflation has been a source of recent concern, the Fed appears confident it will remain in check for the near term. Meanwhile, buyers continue to benefit from historically favorable buying conditions, and sellers are encouraged by increased market stability.
 
Kristin Hamilton Sells Redlands CA
Debt Ceiling Deal
 
After a drawn-out debate between the House and the Senate, Democrats and Republicans; Congress and the President reached a deal on August 2, 2011, to raise the debt ceiling. Because of the decision and the additional borrowed funds, the United States is safe from defaulting on its debt and will be able to pay its bills. The deal includes the following:

Immediately cuts spending by $917 billion and raises the debt ceiling by $400 billion. It will raise the ceiling by another $500 billion in February, providing funds through early 2013.

Creates a joint committee of twelve members from the House and Senate that will make recommendations for $1.5 trillion in deficit reduction measures, and if the plan is rejected by Congress, several automatic spending cuts will take effect.

Requires Congress to vote on adding a balanced budget amendment to the constitution, which would mandate that future spending cannot exceed revenues. If it passes, the debt ceiling can be raised by $1.5 trillion. If not, then it can only be raised by $1.2 trillion.

Lack of concrete details about how the deficit will be reduced sets the stage for continued political debate in the coming months and years. And with the U.S. securities AAA rating being threatened with a downgrade, the credit agencies will watch carefully to ensure Congress takes action to steer the country in a financially solvent direction. A downgrade would result in higher interest rates, making it more expensive for consumers and the government to borrow money.

Bottom line: crisis averted-it's business as usual for now, but this is not the last to be heard regarding U.S. deficit and debt levels. Some reports indicate that this may change the game in Congress from "spend, spend, spend" to "cut, cut, cut."
Kristin Hamilton Sells Redlands CA
****It seems like we are truly on the Real Estatge Road to Recovery.
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Peter Pfann @ 1 Percent Realty Victoria, and Pay-Less For Victoria Real Estate Results!
1 PERCENT REALTY, Victoria BC www.1percentrealtyvictoria.com - Victoria, BC
Talk To Peter 250-213-9490 www.pay-lessrealty.com

HI Kristin,

Very well put together all the key elements for people to be assured that making a moving decision at this time is a safe and sound decision, (as long as they contact Kristin in Redlands off course)

August 12, 2011 01:08 PM #1
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Kristin Hamilton
Keller Williams Realty - Redlands, CA
(909) 557-6966, CDPE, SFR, CHS-Redlands/Loma Linda

I thought this info was sooooooo important to publish to the public and well as all the real estate professionals.

August 12, 2011 01:46 PM #2
Rainmaker
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Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.com 305-931-6931

Yes, great post. And we can say in Miami, Florida prices on condos have risen over past year too!

August 13, 2011 12:39 AM #3
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Kristin Hamilton
Keller Williams Realty - Redlands, CA
(909) 557-6966, CDPE, SFR, CHS-Redlands/Loma Linda

Hi Evelina, Thanks for stopping and I am so glad the condos are up in Florida. Probably as so many want to buy vacation properties there. I would like one there myself. Condos in CA seem to be way down but I am being positive they will go up soon.

August 13, 2011 12:48 AM #4
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Robert (Vegas Bob) Swetz
REALTY ONE GROUP - LAS VEGAS, NEVADA 702.443.7156 - Las Vegas, NV
Commercial & Residential Real Estate Agent

Hello Kristin and this is very interesting and thanks for the information!

VB ;o)

August 13, 2011 01:18 PM #5
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Kristin Hamilton
Keller Williams Realty - Redlands, CA
(909) 557-6966, CDPE, SFR, CHS-Redlands/Loma Linda

Thanks Robert for your kind comments. I am amazed that you are almost at 1,000,000 points. I will be following your progress.

PS I love your picture; you and the Las Vegas sign.

August 13, 2011 02:15 PM #6
Rainmaker
952,112
Kathy Clulow
RE/MAX All-Stars Realty Inc. Brokerage - Uxbridge, ON
CNE - ASP - SRES .... Uxbridge Ontario Real Estate

Kristen - It certainly is refreshing to see some good news here ..... I now look forward each day to reading the good news I see coming out of the rain lately. Make It A Great Day

August 14, 2011 08:58 AM #7
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Kristin Hamilton
Keller Williams Realty - Redlands, CA
(909) 557-6966, CDPE, SFR, CHS-Redlands/Loma Linda

Yes and this Saturday I heard sales had improved in July. This is also good news. I hope or nation's economy is turning around and improving month to month!

August 14, 2011 09:45 AM #8
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