Tuesday, March 19, 2013

We Be Doing Fine...Home Valuse Up

The latest news on the improvement in both the mentality and the economics of the market.
Yes!  It does take us all feeling "more wealthy" or at least "improving financially" to have the confidence to buy big ticket items.

As you can imagine, the upswing in the auto industry over the last 18-24 months was early signs of the good feeling spreading across America.

The recent run in the Dow Jones and improving home values increase households income 1.17 Trillion.....yes Trillion with a "T"(same measure for our Government Debt...but this is a good Trillion!).    Thus, with that type of improvement, we all are bond to share a portion of this improvement.

Thus we are all HAPPY!!!


Topic Summary:
Seven years after the housing market began to collapse, rising home prices and lower inventories are providing new opportunities for would-be home sellers.  In markets that are hot, home sellers are seeing multiple offers, a phenomenon not seen in many years. With a dwindling number of homes for sale, increasing home values and an overall improved economy, this "tripleplay" may have you wondering if it's a perfect time to sell.  
First Some Stats :
Corelogic, nationwide housing industry research firm released their monthly report on March 5th. Home prices nationwide, including distressed sales, increased on a year-over-year basis by 9.7 percent in January 2013 compared to January 2012. This change represents the biggest increase since April 2006 and the 11th consecutive monthly increase in home prices nationally.  
What's For Sale?
 Adapting an economic term called supply and demand, some of the rise in home prices is based on consumers willing to pay more for the perfect home and since there are smaller numbers of homes for sale, "demand"  pushes up prices.
But All Real Estate Is Local!
There are services found on the internet that can tell you what your home value range may be but caution is advised when doing this research. No website can provide you the most accurate data so we suggest you contact your newsletter sponsor to discuss your current situation. Just simply click the email link on the left side and ask your professional for a Current Market Value analysis.  Your real estate professional has many tools that can be used to ascertain your home value by analyzing recent sales in the area and other market conditions.
 Feeling Wealthier Recently?
In a recent report published by the Federal Reserve, household wealth in the last quarter was up $1.17 trillion, mostly supported by rising home values and a booming stock market
Net worth for households I snow tracked at $66.1 trillion. This is the highest since the fourth quarter of 2007.
Household wealth is approaching its pre-recession level as the recovery in home value appreciationoffsets higher taxes enacted by Congress.  The Federal Reserve plans to keep lending rates low which will to shore up finances, giving consumers the confidence to keep buying big- ticket items including cars and homes.

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