First time home buyer or Investor ALERT! This home has been remodeled and is very affordable! Perfect layout maximizes the square footage. Huge windows in living room look out onto the bountiful front yard. With a great sized garage for storage, highly functional utility room, and BRAND NEW appliances, this home is just waiting for the perfect buyer. Located in a well established neighborhood walking distance from the schools. Come take a look today! Call Danielle anytime for a showing at 360-483-6490
Washington, DC, April 20, 2011
Sales of existing-home sales rose in March, continuing an uneven recovery that began after sales bottomed last July, according to the National Association of Realtors®.
Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 3.7 percent to a seasonally adjusted annual rate of 5.10 million in March from an upwardly revised 4.92 million in February, but are 6.3 percent below the 5.44 million pace in March 2010. Sales were at elevated levels from March through June of 2010 in response to the home buyer tax credit.
NAR’s housing affordability index shows the typical monthly mortgage principal and interest payment for the purchase of a median-priced existing home is only 13 percent of gross household income, the lowest since records began in 1970.
On April 9th between 10 and 11am, I will be on the Real Estate Radio talking with Mike Kent about the upcoming Nationwide Open House weekend. This weekend is occuring June 4th and 5th across the entire nation. It will be by far the BEST weekend to have your house open for prospective buyers if you are selling your home, and the BEST weekend to house hunt if you are searching. There will be hundreds, if not thousands of open houses to view during this weekend. Keep your eyes and ears open for more information to come!
A lot of home buying activity is due to the affordability now out there. The National Association of Home Builders (NAHB) and a major bank reported their index shows home affordability in Q4 of 2010 at its highest level in 20 years. Their measure found that 73.9% of the new and existing homes sold in Q4 were affordable to families making the national median income of $64,400.
~Courtest of Liz Standow
Couple this with the unheard of interest rates we are still seeing today and you have a perfect combination to buy your first, second, or even third home. Just in the last 2 months, the market has sped up considerably with buyers beating the pavement and homes pending left and right. Don’t miss your opportunity, call me today to get started! 360-483-6490
New home sales are forecast to come back more briskly, up 17.7% in 2011, following their 15.5% drop in 2010. The 2012 projection is for a strong 51.1% sales gain, to 565,000 homes. The median price for new homes, which gained 2.2% last year, should go up another 1.8% in 2011, to $224,700, then 1.9% in 2012, to $229,000. The NAR’s chief economist says this rebound in home sales does depend on an improvement in the jobs market. Affordability also matters and in Q4 of 2010 housing was the most affordable on record, according to NAR numbers going back to 1971. The NAR feels the current situation of low home prices along with low interest rates should continue.