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Daily Real Estate News | Wednesday, December 12, 2012  

The housing market is changing, creating a “new playing field for home owners, who are finally able to sell, as well as would-be buyers who've been delaying a purchase in anticipation that prices would keep falling,” Money Magazine reports. 

Mortgages for home purchases are expected to soar 55 percent in 2013, according to forecasts by the Mortgage Bankers Association. 

“The days of buyers sticking it to sellers are over," says Tracie Peay, a Salt Lake City real estate practitioner.

Still, home sellers should keep their expectations in line: Price increases are to be modest and gradual. Fiserv forecasts home prices will rise 3.3…

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In Chandler, the median sold price for Single Family Detached real estate for November was $210,000, representing a decrease of 4.5% compared to last month and an increase of 24.3% from Nov 2011. The average days on market for units sold in November was 56 days, 39% below the 5-year November average of 92 days. There was an 8.4% month over month decrease in new contract activity with 428 new contracts; a 3.9% month over month decrease in all Pendings (new contracts + contracts carried over from October) to 754; and a 1.3% increase in supply to 622 active units.

This activity resulted in a contract ratio of 1.21 pendings per active listing, down from 1.28 in October and an increase from 0.68 in November 2011. The contract ratio is 137% higher than the…

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In Gilbert, AZ, the median sold price for Single Family Detached real estate for October 2012 was $215,000, representing a decrease of 0.5% compared to last month and an increase of 36.9% from Oct 2011. The average days on market for units sold in October was 57 days, 38% below the 5-year October average of 92 days. There was a 5.6% month over month increase in new contract activity with 491 New Contracts; a 0.5% month over month decrease in all pendings (new contracts + contracts carried over from September) to 883; and a 5.2% increase in supply to 549 active units.

This Gilbert houseing activity resulted in a Contract Ratio of 1.61 pendings per active listing, down from 1.70 in September and an increase from 0.76 in October 2011. The contract ratio is…

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We generally think of the holiday season as causing explosions of bad (if sweet) sweaters, creating waistline expansion and snowballing into bank account shrinkage. But there are loads of less obvious implications of the holidays - both good and bad - in every area of life.
For example, I recently read that household energy use spikes almost 39 percent in December (bad), due to holiday lighting (good) and baking (good) and all the extra time we run the furnace for our holiday guests (good). Depression and alcohol use go up, but so does charitable giving. Stress goes up, but so do acts of kindness.

What if we applied that same, balanced eye to understanding the effects the holidays are likely to have on your local real estate…

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High demand, low inventory sparking multiple offers, market momentum

KIRKLAND, Wash. (Dec. 5, 2012) – Real estate brokers expected some seasonal slowing during November, but last month’s falloff was less than what some industry veterans anticipated. Members of Northwest Multiple Listing Service reported 6,522 pending sales last month -- the highest total for November in six years.

"The market is done with needed correction," declared one broker.

New figures from the MLS show last month’s pending sales rose 6.9 percent compared to a year ago, and was the best November for mutually accepted offers since 2006 when members tallied 7,022 pending transactions. As expected, the volume dropped from October’s total of 8,312…

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Metro Phoenix’s median real estate price climbed 5 percent in October after four months of remaining flat. The region’s median price of an existing house reached $157,000 in October, up from $150,000 during the previous few months, according to Arizona State University’s W.P. Carey School of Business.  “The summer lull ended, and we had an influx of snowbirds and other buyers,” Mike Orr, director of Real Estate Theory for the business school, said in the report. Metro Phoenix’s median home price is up 34 percent from a year earlier.  An increase in sales in October pushed home prices higher.  “We’re seeing about 5 percent more sales activity this October than last October,” Orr said. The price and sales increases occurred as the supply of homes for sale…

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  • They expect about 987 elementary-aged students (full-time equivalents) in the current Grand Ridge attendance area next school year. Even with the 10 additional portable classrooms on site now, this exceeds possible housing at Grand Ridge.
  • To balance enrollment, all full-day and half-day kindergartners will be housed at Challenger and Endeavour Elementary beginning next fall. We will group neighborhood areas together evenly among both schools after kindergarten enrollment numbers are confirmed in March.
  • The change in the boundary will move 175 students in newly developed or soon-to-be developed areas in the Issaquah Highlands (see map) to Clark Elementary, which has capacity to house the students and will soon have a brand new building.
  • …

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Daily Real Estate News | Tuesday, November 27, 2012  

The Wall Street Journal recently cited five significant factors behind the rise in home prices, as numerous markets see significant year-over-year gains. The big price drives are: 

1. The rise in housing affordability - which is drawing more buyers out into the market who are looking to cash in on low mortgage rates and fallen home prices compared to a few years ago.

2. The rise in household formation - which is expected to hit 1 million new households this year. That is up from an average of 570,000 over the last five years, according to data by Bank of America Merrill Lynch.

3. The rise in rents -…

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Buying and selling a business demands a level of expertise that seasoned Business Brokers can offer.  The intricate details of a sale can cause a transaction to fall through if you’re not experienced in all phases of the process, even if you’re a savvy business owner.

There are over 28,800,000 businesses in the US today with 40% of business owners expected to list their businesses for sale within the next three years.  Below are some interesting statics.

We can help you minimize your risk through our experience, expertise and vast attention to detail.

 Only about 20 to 35 percent of private companies manage to find a buyer.          The reasons cited:

  • Sellers did not have all the information that prospective buyers needed in order to make a…

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Daily Real Estate News | Monday, November 26, 2012  

Mortgage rates continue to fall, with fixed-rate mortgage rates reaching new record lows last week for the second consecutive week, Freddie Mac reports in its weekly mortgage market survey. 

"Fixed mortgage rates continued to ease somewhat this week to record lows and should help the ongoing housing recovery,” said Frank Nothaft, Freddie Mac’s chief economist. 

Here’s a closer look at mortgage averages for the week ending early due to the…

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