December 2011 Newsletter

5 Reasons the Holidays are a Great Time to Sell

By Louie Ortiz

1.    Most areas are in a declining market – In a declining market, a home owner will typically get a better sales price now rather than waiting until after the holidays or even spring.

2.    There is less competition – Many homeowners take their homes off the market for the holidays. As a home seller, this means there is less competition. Generally more homes come back on the market after the holidays, which means increased competition for the seller.

3.    More serious buyers shop for homes during the holidays – The buyers that take the time to look for homes are usually more serious. Some may be relocation buyers that need a home before the end of the year. Some investors may also want to close before the end of the year for tax reasons.

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Homeownership Rate Rises After Two Years of Decline

By Krista Franks

After falling to a 13-year low during the second quarter, the homeownership rate posted a highly unexpected rise in the third quarter, according to a Census Bureau report released Wednesday.

With foreclosures forcing homeowners out of their homes and buyers waiting on the sidelines as home values declined, the homeownership rate has been on the decline for quite some time. In fact, according to Bloomberg, the third quarter rise is the first in two years.
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Housing to gradually improve in 2012, NAR economist says

By Kerry Curry

Gradual improvement in the housing market is expected next year, with existing-home sales edging up 4% to 5% and new home sales getting an even bigger boost off this year's record lows, the chief economist of the nation's largest real estate group said Friday.

 "Tight mortgage credit conditions have been holding back homebuyers all year, and consumer confidence has been shaky recently," Lawrence Yun, chief economist of the National Association of Realtors, said. "Nonetheless, there is a sizeable pent-up demand based on population growth, employment levels and a doubling-up phenomenon that can’t continue indefinitely."
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