Wednesday, December 29, 2010
I have gotten a number of comments from around the country regarding the blog this week on Warren Buffet's feeling that the real estate market will turn around in 2011. I would like to share these comments from a number of discussion groups.
From Sarasota. Florida
Will the market turn around is a hard question for it is all in location. you talk to people in San Fran to boston and each market is different some grewat some not For here in Fl. the market is great and horrific depending on the area. just have to have buyers who want to buy for with interest rates the way they are it is perfect for all buyers. Each market is different is all i am saying. I am in Sarasota Fl. and our inventory has been declinng over the last 2 yrs. Pending sales and Sold are increasing every year at records paces however in Miami i hear they market is still tough and inventory there is still high. So stay in there all agents and stay positive. Do not look at this market as 1/2 empty see it as 1/2 full for it is a great time to buy if you can.
Happy New year to all
From South Florida
2010 has been a great year, real estate wise, for sharp buyers and real estate agents that worked their "niches". I had a busy year thanks to first time home buyers taking advantage of FHA mortgages and the tax credit, and the 55 plus baby boomer looking to establish full time residency and second homes in South Florida. I believe 2011 will continue to be a prosperous year for agents working the REO & short sale segment of the market. Baby Boomers will continue to migrate south, and we gratiously welcome them here in Palm Beach County! Good luck to everyone!
From the Carolinas
The pace of the last few weeks has been stronger than the previous three months here. Greenville, SC offers first class restaurants, culture, and sports for all age groups. We are seeing qualified buyers and companies from all over the eastern US and midwest, in particular, noticing our exciting area and moving here. Parents are following their adult children, who have been relocated here for careers, and settling in for retirement. And the upstate SC has one of the highest concentrations of international investment in the nation. So, yes, I see a brighter 2011!
I also work the niche market of the 50plus community in Charleston SC and my sales were up almost 400% over 2009. I already have several contracts on to be built homes for 2011 and buyers who have their homes on the market waiting to sell so they can relocate to Charleston.
2011 will be better than 2010.
I believe that the 50plus community is tired of waiting for the real estate market to come back and are making the move to where they really want to be. I am finding many of them using the Reverse Mortgage to Purchase to make up some of the difference in what they didn't gain in the house they sold.
The market has absolutely made a turn for the better! I just closed on a house yesterday. Interest rates are at an all time low! If you are in the market to buy or refinance don't miss this great aopportunity! We have lots of homes in New Canaan, and in Lower Fairfield County in contract and into closings much much better than a year ago so we are in an upward swing!
Monday, December 27, 2010
This past March, in a letter to Berkshire Hathaway shareholders, Warren Buffet predicted increased demand for real estate in 2011. At that time many were hoping the summer would bring the turnaround. “Prices will remain far below ‘bubble’ levels, of course, but for every seller or lender hurt by this there will be a buyer who benefits. Indeed, many families that couldn’t afford to buy an appropriate home a few years ago now find it well within their means.”
Monday, December 20, 2010
What are you doing this Holiday season? Both our VT headquarters and WY satellite office will be enjoying a very white Christmas this year! With more than 17" fallen in Jackson Hole in the last 48 hours, we will definitely be hitting the slopes this weekend.
HAPPY HOLIDAYS FROM EVERYONE AT CRS!
Monday, December 13, 2010
Consumers Relocation fully supports MID- the mortgage interest deduction, and we feel that its elimination will be devastating to the real estate market! Last week, the Deficit Commission Report was released, and talked about cutting the mortgage interest deduction. News reports are saying that Congress threatens to repeal or limit MID will keep potential buyers on the sidelines and further delay the housing recovery.
Call your Senator and tell them you support the interest deduction, and that even talk of changing MID harms an already fragile market.
This call to action is being spearheaded by the National Association of Realtors and is vital to our real estate industry!
Monday, November 29, 2010
Moving around the holidays is not ideal, but sometimes cannot be avoided. Some people think that the moving truck drivers work 24/7 but believe it or not, they have a life too! They are like normal people with families that would like to spend the holidays at home. However, there are some drivers that decide not to celebrate the holidays and would rather work.
Aaron Roth, Sr. Move Manager for Wheaton World Wide Moving says "Many drivers want to be home for the holidays so they will plan their trip assignments to ensure they are home in time. Some drivers may finish delivering all the shipments on his truck a couple of weeks before Christmas and/or Thanksgiving, and then head home without a reload. Other drivers may ask for a reload, but limit the number of shipments being loaded so that he gets home quickly."
If you are looking to move during the holidays, the movers will factor in those days when determining a delivery spread. The movers will typically exclude holidays from the spread, but that does not mean they will not deliver on the holiday if the driver can do so. The movers plan accordingly to avoid late deliveries.
So if you are planning a move over the holidays, note that it can be done! Especially with a little flexibility! You can contact any one of our consultants at CRS for more information on moving over the holidays.
Wednesday, November 24, 2010
Wednesday, November 17, 2010
Third quarter results reported by the National Association for home prices and number of existing home sales see to send mixed signals. While is seems that prices are more stable, the number of exiting home sales have declined in some regions.
Seems that the Northeast stabilized the most in home sale prices. I know that Burlington VT, in my home state was the leader showing some appreciation. The other regions all reported a decline in home prices, although very modest in comparison to other reports over the last couple years.
In the midwest the median price dropped 3% from the third quarter of 2009. Home sales were 28.9% below a year ago in the third quarter. In the south home prices fell 1.9% and the west a very modest .4% drop. The midwest reported existing homes sales declined 16.4% over 2009 and the west slipped 20% during the quarter. Over on the year though, the drops are much less probably due to the favorable tax situation in the first part of the year which provided a stimulus for home purchases.
Although third quarter results are not where we all want them, we at CRS are optimistic in a rebound in activity in 2011 and are positioning ourselves for that.
Thursday, November 11, 2010
There is nothing worse than being cold in your home in the dead of winter! Wouldn't it be nice to save some money and make your home a more comfortable place while the snow falls? I was researching different tips on winterizing my home, as we are dealing with a lot of these issues! Leah Culler of MSN Real Estate has compiled a list of 4 winter prep essentials you shouldn't skip.
Gutters and roof
Gutters and roof
must do: clear debris from your gutters or have a professional do it. Make sure your downspouts are directing water at least 3 feet away from your home's foundation, says David Lupberger, home-improvement expert. It is also crucial to make sure that your gutters and downspouts are securely fastened to your home and that there is no blockage in the downspout. Why are gutters and downspouts important? Winter weather typically means more rain or snow which can seriously damage your home's foundation. Gutters and downspouts are there to take the water that runs off your roof and get it away from your home. Keeping them working properly will keep your foundation dry and stable and save you a lot of money and hassle.
should do: Check your roof for peeling tiles and any potential roofing issues. If you really want to be diligent, inspect your attic for mold, water stains and other signs of moisture.
must do: If you do nothing else, replace the filter.
should do: Have a professional perform an annual furnace check. Lupberger says a good furnace pro will vacuum the unit, lubricate the parts, replace your filter and check the thermostat.
must do: Walk around inside your house while the sun is out and look at the doors that lead outside. If you see daylight coming in around the door frame, that's a sign that outside air is leaking in. If you have an air leak you can buy weatherstripping at a hardware or home improvement store and create a tighter seal. If light is coming in from the bottom of the door, you can buy a door sweep to keep cold air out.
should do: Lupberger highly recommends that homeowners have a blower door test performed to determine where the house is leaking air so they can insulate and upgrade to create a tighter, more comfortable home- not to mention save some money. "Ninety percent of homes were built when energy was cheap, that means most homes are under insulated" says Lupberger.
must do: If your home has a sprinkler system, it must be winterized to prevent any freezing in the colder months, says Sam White, owner of Preferred Spinkler Service in Denver. Winterizing that system consists of shutting it off from inside the home, draining it and using compressed air to blow any remaining water out of individual sections of the system. White recommends having a professional do this.
A few other things to think about before winter hits
Fireplace and Chimney- If your home has a fireplace and you regularly have fires, it may be time to have a chimney sweep take a look. It is a good idea to have this done every two or three years.
Pipes- You can save a little money on hot water by insulating your pipes so they will hold heat longer.
Detectors- Check the batteries in your carbon-monoxide and smoke detectors and make sure the detectors are working.