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Housing’s Market’s Inventory Issue

By on Feb 14, 2014 in Colorado, Featured, Local Talk, National, Portland, Seattle | 0 comments

The housing market’s gradual recovery continues to face one major obstacle in many local markets: Limited inventory. The same factor that has buoyed price appreciation rates for the better part of the past year is also threatening the national market’s long-term sustainability. According to the National Association of Realtors, available housing inventory was down 9.3 percent at the start of January, a rate of supply that would last fewer than five months at the current sales pace. A healthy market, by comparison, is one with a six- or seven-month supply.   Jed Smith, NAR’s managing director of quantitative research, noted that price gains in 2014 need to take on a more sustainable pace, or else the lack of available properties on the market will trigger concerns that another bubble is in the making. Prices are expected to gain at a rate of 5 percent nationally...

3 Things to Consider Before Buying a Home

By on Feb 7, 2014 in Colorado, Featured, National, Portland, Seattle | 1 comment

If you are one of the many people who is carefully considering buying a home at this point in time, you are probably getting a lot of advice from friends and family. While they may have your best interests in mind, they may not be completely aware of your needs and the current market. Here are three important questions you should ask before buying in today’s market: 1. Why am I purchasing a home? This is an important question to consider answering. Forget your financial situation for a moment. Why did you start to consider buying a home? For most people, that reason has nothing to do with your finances. A study conducted by the Joint Center for Housing Studies at Harvard University shows that there are four major reasons people purchase a home and none have anything to do with money: • A good place to raise kids and provide them with an education • A home where you and your family...

New Housing Trend: Buyers Staying Put for the Long Haul

By on Jan 12, 2014 in Colorado, Featured, Idaho, Local Talk, National, Seattle | 0 comments

Starter homes may not quite be a thing of the past, but more-and-more homeowners are opting to stay put for reasons ranging from the cost and hassle of moving to a desire to give their children a stable upbringing in a nice neighborhood. Besides the stability of child-rearing and avoiding the hassles of moving, there are other reasons more homeowners are staying the course these days. Many homeowners, whether they bought in the last few years or refinances, are locked into very favorable mortgage rates – and it’s hard to imagine they’ll stay that low forever. That means, of course, that the traditional model of trading up to a bigger home, for those with favorable mortgages, would come with additional cost beyond the purchase price. Which is another reason homeowners are tending to plant deep roots, according to research by the National Association of Realtors®. Paul Bishop, vice...

Survey:Home Ownership Extremely Important to Americans

By on Dec 4, 2013 in Colorado, Featured, Idaho, Local Talk, National, Seattle | 0 comments

Five years after the devastating housing crisis, adults still view home ownership in a positive way. A survey was taken by 1,000 adults. These were individuals from all over the country, and 88 percent believe that home ownership is very important. They believe it to be an integral part of living the American dream. However, 55 percent of individuals surveyed reported that if they couldn’t own a home they would not feel less successful. About 66 percent of adults surveyed say their opinion regarding home ownership has remained the same. Despite the fact that returning to a normalized housing market has been a slow process, the opinion of those surveyed hasn’t changed over the last five years. Studies show that renters much more likely to report an opinion change than homeowners. It’s true that the housing market took a major hit. It’s also true that over one million homes went into...

New Homebuyer? Repairs You Should Consider Now

By on Oct 30, 2013 in Colorado, Featured, Local Talk, National, Seattle | 0 comments

Whether your new purchase is brand new construction or a 20-year-old beauty, homes require constant care, even after that coat of paint. A home inspector may have cleared your home as fully operational, however, it’s time to look around and really start inspecting your appliances, plumbing and structural integrity. Waiting for a problem to arise can cost hundreds of dollars. Here are some suggestions I think you might find helpful. Appliances Run all the appliances one at a time to ensure they are in good working order. Inspect the flooring around your laundry washer to check if all the hoses connect properly to drains and outlets. Run the dishwasher with the same scrutinizing detail to ensure it works properly. Any gas appliances, including dryers and stoves, need to have firm connections to your gas outlet. Air If you haven’t started your central heat or air conditioning...

Study Shows Owning a Home is Still The American Dream

By on Oct 15, 2013 in Colorado, Featured, Idaho, Local Talk, National | 0 comments

Owning a home is still the American Dream.  Since the Great Recession of 2007, real estate professionals continue to speculate about how the housing bubble bursting will affect consumers’ consideration of homeownership as a vital aspect of the American Dream. After all, many people lost their primary investments when they found themselves out of position on primary and secondary mortgages. Others bit off more than they could chew financially by purchasing homes with the intention of “flipping” them for a profit, only to find they were saddled with one more extra property they could not sell even for the price they paid. The housing crisis left many consumers bitter and, at least temporarily, unable or hesitant to seek financing for real estate. However, a study by Harvard University’s Joint Center for Housing Studies indicates most Americans continue to prefer...