From our family to yours, Merry Christmas everyone!
For those who’d like some data to share over the holiday table, let’s compare two months’ worth of sales to help smooth out the extremes.
Here are the combined November and December NSDCC detached-home sales:
Once this month closes out, we should hit around 400 sales too, which is incredible, considering how much higher prices are today. The cost-per-sf and the median sales price are both 4% higher than in 2013.
Today’s GDP report should make a few people giddy, but this guy is way ahead:
Next year is going to be a great one for real estate, two pros in the sector told CNBC on Monday.
For broker Fred Glick, it’s all about jobs, oil prices and interest rates, which translate into more money in consumers’ pockets and more confidence.
“This is all going to turn around to a happiness. I call it the axis of housing happiness in that you have jobs, you have low oil prices and you have low interest rates,” Glick told “Closing Bell.”
“This is great, I love it here.”
From March, 1970, with Leon Russell on keyboards:
Everyone believes that the best time to sell your house is springtime.
But we threw out all the standard beliefs once the government stepped in and screwed up all the natural market forces. Looked how it turned out this year.
If it weren’t for a blip that caused the June’s average cost-per-sf to be three percent higher than in October, the April-through-July stretch would have been the worst of the year:
Volatility is higher too. Look at how the cost-per-sf was bouncing around this year, compared to the previous years. Thankfully, mortgage rates have had the biggest impact, and today they are in the threes:
In the summer of 2013, rates jumped 1/2% on a rumor – there is enough instability worldwide that it wouldn’t take much for rates to jump again.
Sellers should consider getting their house on the market sooner, not later.
Get Good Help, and get it done – January will be great!
The average LP-per-sf is lower this week than the same week last year in every category below. The average DOM and average SF are worse too. Anyone who lists their home for sale this week has to be motivated – keep an eye out!
The UNDER-$800,000 Market:
Doesn’t there have to be a segment of baby boomers who are looking for adventure, and want to head out on the highway? If so, will the warmer-climate San Diego be a net gainer, or loser? If there is a senior exodus to free up money and lifestyle, it would make sense that the more-expensive areas like Southern California would see more seniors leaving.
From the nytimes.com:
When is a house your safe haven and when is it standing in the way of richer life experiences? That’s the question more and more retirees are asking these days.
Take Barbara and Mike West and Joseph and Phyllis Applebaum, retirees and longtime Maryland residents.
After years of analyzing their financial situation, the Wests decided to put the mortgage-free suburban house they had owned for 26 years on the market. They wanted to avoid the mid-Atlantic winters and considered moving to Hawaii, where they had lived while Mr. West was in the U.S. Navy.
But they decided it was too remote. They also ruled out San Diego, Savannah, Ga., and Charleston, S.C. Florida, they decided, was a possibility.
They considered renting their Maryland house out for part of the year, yet the idea of storing some of their household goods and someone else sleeping in their bed changed their minds.
Of the decision to sell a mortgage-free home, Barbara West, 63, said it would give them a chance to dream and to explore. Besides, “It’s a lot of money locked up in the house,” said Ms. West, who retired from her job as a lobbyist two years ago. “It’s a nice side benefit. It will free up money. We’ll have more flexibility. We’re kind of looking at it as an adventure.”
Read full article here:
I get more optimistic every day about next year’s market.
Here’s why, plus a few other ramblings:
(before version above)
Buying a fixer and doing a remodel is a viable alternative for those frustrated with trying to find a ready-made, suitable house: