Good News for Housing Market

By
Real Estate Broker with www.AtHomesCharlotte.com | Savvy + Company Real Estate 228209
Good News for Housing Market

Now IS the time to BUY!Being cautiously optimistic has become the 'trend' for those of us remaining in this turbulent market.  Sometimes the news is so negative that we have to go a bit overboard to 'prove' that there really are points to be positive about in this market.  

Alas, we have some good news--in print!  In a recent article from CNBC regarding the improving U.S. housing market, key points revealed are as follows:

1.  Economists believe that the market may be in recovery mode by end of second quarter '09.
2.  30-year fixed mortgages are near historic lows that have not been seen since spring, 2003, very briefly.
3.  Even before the recent decline in mortgage rates, the NAR's housing affordability index was at a high for the year.
4.  Sales of existing homes are down sharply from their peak in 2005 however, the annualized sales rate has steadied in Q4.
5.  Inventory has decrerased from April's high of 11.2 months to 10.2 months and continues to trend downward.  


Buy Now!

Read the entire article.

Sam Zell, a real estate entrepreneur, interviewed on Squawk Box this morning, and in a recent Forbes article, says he believes that the U.S. housing recovery will begin this spring!


As well,
The Wall Street Journal's recent article, "The Future of Home Prices," touts real estate as one of America's best investments.  

Stay tuned for more forthcoming news with the recent decrease in mortgage rates.

Debe in Charlotte


About the author:

Quality Service CertifiedDebe Maxwell is a Charlotte Residential Real Estate Broker, Certified Neighborhood & Relocation Specialist, ABR & e-PRO who can assist you with the purchase and/or sale of real estate in the Charlotte NC Metro Area.  If you're relocating to or from any other area of the country, Debe connects you with any member of her team of relocation professionals in your destination or exit city of choice.  The destination service is of no cost to you!  The Maxwell House Group's quality service guarantee puts this team far ahead of the competition; providing unsurpassed customer service is their #1 priority!  Debe Maxwell -- Helen Adams Realty -- 704.491.3310

Copyright© 2008 By Debe Maxwell, All Rights Reserved...**Good News for Housing Market**

Disclaimer:  All information provided by this author is strictly an opinion, is not guaranteed, may be based on information collected from several sources, which may or may not be deemed reliable at the time of researching this article and may be time sensitive.
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Re-Bloggged 3 times:

Re-Blogged By Re-Blogged At
  1. Lauren Krady Lancaster 12/17/2008 12:25 PM
  2. Heather Goodwin 12/17/2008 07:51 PM
  3. Stanton Homes 12/18/2008 05:28 AM
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Real Estate Market Trends
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North Carolina Mecklenburg County Charlotte
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Debe Maxwell
Charlotte Homes for Sale - Charlotte Neighborhoods
www.AtHomesCharlotte.com | Savvy + Company Real Estate

Mike:  That's SO true!  The funny thing--all of these came from the media and in the interview on CNBC, many more positive comments were actually made than I wrote!  I was pleasantly surprised.

Underwater in Buckeye:  Not to sound negative but, it appears that your glass is half-empty--with your negative name and negative comments, it's no wonder that you view the market as so horrible.  Perhaps your area is different than ours?  Perhaps your attitude could be amended to stive for success and you will achieve it?

If you listened to the interview or read the articles, you would definitely NOT look at this recent news as negative.  Also, when you shave one month off of your market absorption (NOT add to it), your market is improving, not 'sucking.'

I heard speculation that our market (not the national market, OUR market) was turning downwards in early summer of '07.  I immediately ramped up my marketing and began tweaking my business model.  With each and every month, I strategize the upcoming month's plans (NOT year's) and keep statistics on a daily basis.  Perhaps that could be the reason that my NET income has more than doubled in 2008--and I still have Closings yet to go this month.  Granted, I've worked twice as hard this year and spent more money than in previous years but, I was NOT going to approach my game plan with a half-empty glass.

Had I let my attitude go in that direction, I would have simply closed up shop and gone back into nursing.  Believe me, it would have been FAR easier and MUCH less work!

Hi Dona:  Thanks and yes, success is achieved when we do what we need to do for our business.  It is my opinion that my clients (both past, current and potential) need to gain some confidence back and EVERY four years, we have this lull.  This year, obviously, has been much different and a much longer lull but, to be successful, we must overcome the negatives and focus on the positives!  Merry Christmas to you and yours too!  Here's to a wildly successful 2009!

Debe in Charlotte

December 19, 2008 09:22 PM
Ambassador
1,247,071
Debe Maxwell
Charlotte Homes for Sale - Charlotte Neighborhoods
www.AtHomesCharlotte.com | Savvy + Company Real Estate

Hi Mike:  You are realistically optimistic, aren't you?!  I tend to have to be pulled down from my positive podium at times but, I also know that negativity doesn't get you anywhere in life.  

I choose to learn the numbers, study the numbers and attack my business model WITH those numbers!  For instance--right now, I'm selling alot of investment properties--there are alot of folks that can't get mortgages out there because they have homes to sell in their exit cities.  So the rental market is strong.  I don't want to be a property manager so, I have partnered with one to assist my investor clients with managing their newly purchased properties.  My investors are not my old-style of investors either--they are primary residence owners ONLY--who are tired of the volitility in the stock market and decided to put their savings into real estate!  I have to count on my property manager partner to guide me with the rental rates so that I can assist my investor clients achieve that positive cash flow that they're looking for.

Not only is that helping the market rebound with Closings on some of these first-time sellers homes (so that they can move up and the snowball effect begins) but, they're bringing back that 'lost' consumer confidence!

Thanks for your comment, Mike!

Debe in Charlotte

 

December 19, 2008 09:32 PM
Rainmaker
629,967
Don Rogers
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes
Keller Williams Realty Chesterfield

Debe,

I am glad to hear some positive news hitting the media for a change.  I am getting excited about our local market and can hardly wait to do the year end report comparing it to 2007.  I think that we are about ready to make the turn and things are going to start looking up.

December 20, 2008 05:27 AM
Rainmaker
196,395
Kathryn Gorham
Emerald Isle NC Crystal Coast
Sun Surf Realty

Debe, Thanks for the good news. Other things I've looked at also indicate that 2009 will be the turn around year for NC. That means all those buyers waiting for the bottom it's time to step up and the rates are great too.

December 20, 2008 08:15 AM
Ambassador
1,247,071
Debe Maxwell
Charlotte Homes for Sale - Charlotte Neighborhoods
www.AtHomesCharlotte.com | Savvy + Company Real Estate

Hi Don!  That's what I'm hearing and believe me, holding onto!!  The best for you in 2009, Mr. President!

Kathryn:  You're welcome!  I feel like those buyers are already starting to step up and they are smart to do so--these interest rates aren't going to stay this low forever!

Merry ChristmasMerry Christmas

December 20, 2008 02:50 PM
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Additional Information

Author Bio: Debe Maxwell is a Certified Residential Specialist in the Charlotte Metro region with a focus on the Charlotte luxury home market. My team of agents each have their own specialty areas, a benefit to anyone buying a home in Charlotte NC.

 

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