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August 2016

Found 28 blog entries for August 2016.

I just wanted to write about how much we loved having our son, Rhett, home for the summer. It went so fast! He’s headed back to Atlanta for his junior year. I’m going to miss him, but I’m thrilled for him.

He decided to major in film. Summer in our home was an Alfred Hitchcock “Movie Marathon.”

Since it’s an election year, my husband, Bill, suggested I include the following, remarkably foresighted selections from IndieWire posted a year ago, August 13, 2015.

P.S.  Remember MadLibs? Let’s play! To make sense of the “Race for the White House,” insert the name of a candidate in each blank.

 

2016 Election Coverage: Political Commentary Ripped From Today’s Headlines disguised as reviews of: Alfred Hitchcock's Top 25 Films

“__________

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4 Stats That PROVE This Is NOT 2005 All over Again | Simplifying The Market

Recent research by the National Association of Realtors (NAR) examined certain red flags that caused the housing crisis in 2005, and then compared them to today’s real estate market. Today, we want to concentrate on four of those red flags.

  1. Price to Rent Ratio
  2. Price to Income Ratio
  3. Mortgage Transactions
  4. House Flipping

All four categories were outside historical norms in 2005. Home prices were way above normal ratios when compared to both rents and incomes at the time.

NAR explained that mortgage transactions as a percentage of all home sales were also at a higher percentage:

“Loose credit was one of the main culprits of the housing crisis. Mortgage lending expanded dramatically as unhealthy housing speculation reached its

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Real Life vs. Reality TV: 5 Myths Explained | Simplifying The Market

Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV ‘show hole’*? We’ve all been there… watching entire seasons of “Love it or List it,” “Fixer Upper,” “House Hunters,” “Flip or Flop,” “Property Brothers,” and so many more, just in one sitting.  

When you’re in the middle of your real estate themed show marathon, you might start to think that everything you see on TV must be how it works in real life, but you may need a reality check.

Reality TV Show Myths vs. Real Life:

Myth #1: Buyers look at 3 homes and make a decision to purchase one of them.

Truth: There may be buyers who fall in love and buy the first home they see, but more often than not the process of buying a home means touring

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OVERVIEW

July’s median sales price gained 3.6 percent from last year to $570,000, tying the highest July median sales price on record.  The 757 closed sales in July represented a 7.8 percent decrease versus last year. New pending sales increased by 1.3 percent overall with gains in the detached home segment but a loss in the Townhouse segment and no change in the Condo/Coop home type segment. New listing activity decreased 0.4 percent compared to last July. Based on the average sales pace over the past twelve months, the 1,263 active listings represent only 1.9 months of supply, which continues to put sellers in an advantageous position.  Half the homes sold in July were on the market for 11 days or less and the competition among buyers kept the

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How Do Rising Prices Impact Your Home Equity? | Simplifying The Market

Yesterday, we shared the results of the latest Home Price Expectation Survey by Pulsenomics. One of the big takeaways from the survey is that over the next five years, home prices will appreciate 3.5% per year on average, and cumulatively will grow by around 18%.

So what does this mean for homeowners and their equity position?

For example, let’s assume a young couple purchased and closed on a $250,000 home in January of this year. If we only look at the projected increase in the price of that home, how much equity would they earn over the next 5 years?

How Do Rising Prices Impact Your Home Equity? | Simplifying The Market

Since the experts predict that home prices will increase by 4.5% this year alone, the young homeowners will have gained over $11,000 in equity in just one year.

Over a five-year period,

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Where Are Home Prices Headed Over the Next 5 Years? | Simplifying The Market

Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.

Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

The results of their latest survey:

Home values will appreciate by 4.5% over the course of 2016, 3.6% in 2017 and about 3.2% in the next two years, and finally 2.9% in 2020 (as shown below). That means the average annual appreciation will be 3.5% over the next 5 years.

Projected Appreciation | Simplifying The Market

The prediction for cumulative

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Please stop by...OPEN 1-4pm Sunday, August 14th

5115 Cape Cod Court, Bethesda, MD 20816

Amazing location! Quiet cul-de-sac just over the DC line. Grand, updated 6 bedroom, 5.5 bath brick colonial in excellent condition with 2 car garage. 2 story foyer, curved stairway, gourmet kitchen & breakfast room with wall of windows overlooks the back yard, patio & deck. Living room with fireplace, formal dining room, large family room & office with built-in book cases. Lower level rec room, exercise room & kitchenette. Nothing else like it on the market!

Visit www.5115CapeCod.com for architectural photos and color floor plans.

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What States Give You the Most ‘Bang for Your Buck’? [INFOGRAPHIC] | Simplifying The Market

Some Highlights:

  • Thinking of moving across the country? How far will your money take you?
  • The majority of states in the Midwest and South offer a lower cost of living compared to Northeast and Western states.
  • The ‘Biggest Bang for your Buck’ comes in Mississippi where, compared to the national average, you can actually purchase $115.34 worth of goods for $100.

 

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Luxury Home Sales & the Impact of the Stock Market | Simplifying The Market

In a recent post, CoreLogic looked at the correlation between stocks and the sales of upper-end properties ($1 Million+ sales price). The report revealed:

 “The powerful ‘wealth effects’ generated by the rapid rise in equities between 2009 and 2015 drove a large rise in the sales of homes that sold for $1 million or more.

Historically, sales of homes priced $1 million or more averaged 1.2 percent of all home sales. The spread between high-end sales and equities widened during the housing bubble but then moved more closely in unison. By the time the equity markets had peaked in May 2015, the $1 million or more share of the market had nearly doubled, averaging 2.2 percent for the remainder of the year.”

This makes sense. As people see

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Real Estate Values Today Compared to Pre-2008 Peak | Simplifying The Market

This housing market has many people talking about home values; where they are and where they are headed. It’s also interesting to look back and see how home prices compare to values prior to the housing crisis.

Every quarter, Freddie Mac releases their House Price Index. The index usually provides monthly home values for:

  • the nation as a whole
  • each of the 50 states
  • 367 metropolitan statistical areas

This quarter, the report also included a look at today’s home values as compared to Pre-2008 values. Here is a graphic that breaks down the numbers on a state-by-state basis:

Real Estate Values Today Compared to Pre-2008 Peak | Simplifying The Market

 

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