A report released by the National Association for Business Economics on Wednesday expects growth will rebound in 2nd quarter of 2009. Almost 3 ot of 4 of the 45 panelists expects the recession will end by 3rd quarter of 2009. None of the panelists expects the recission to continue past the 1st quarter of 2010. To see full report go to website below,click on road to rescue. I couldn’t agree more. In the real estate market pending sales are up 11/4% compared to 13 months ago and rose 21.3% from March. Are you sitting on the fence? Will you be looking back in a year thinking, “I should have bought while prices were low and interest rates were down.” The real estate market is all about supply and demand. As inventory drops prices will rise and interest rates will start going up. NOW IS THE TIME TO BUY!! If you are wondering what your home will bring in this market, or if you should purchase give me a call. We can sit down and discuss your individual goals and the market you are in.
As a Realtor I am tired of listening to the gloom and doom of the national media on housing issues. What is going on in Florida, California and other parts of the country does not represent the market in Washington and most of all Gig Harbor. I am pleased to give you the facts about our market. The market here is stable and is a responsible marketplace for home buyers. The foreclosure rates today are the same today as they were 10 years ago. Fewer than 1% of mortgages end in default in Washington state. As of mid-June, sub-prime, adjustable-rate loans represented 20% of loans nationally, but just 6% of home loans in Washington. Home appreciation in Washington continues to out-perform the rest of the nation with year-to-year price increases every quarter since spring of 1995. Home prices in Washington have increased an average of 8.1% since the same time last year, according to WSU Center for Real Estate Research (CRER). Why is Washington different? The home market isn’t keeping pace with the growth of the state’s population, which is continuing to increase at 1.8% per year. According to the office of Washington State’s Financial Management, Washington state’s population will increase by nearly one million over the present decade. According to the Northwest Multiple Listing Statistics the median price for active listings in the Gig Harbor area is up 4.1% over last year, the median price for pending listings are the same from last year, and the median price for closed sales is up .3%.
What does that mean to you as a homeowner? It means the real estate market is stillthriving. Sellers who are employing knowledgeable real estate agents to properly price their homes and provide state of the art marketing are selling their homes in the shortest amount of time for the most amount of money. If you want to know what your real estate would bring in today’s market, how long it will take to sell , and the type of marketingit will take to produce buyers that will pay the market price call me at (253) 861-6805 or e-mail me at Realestate@darlenecherry.com you may be surprised at what you canlearn.
Baby boomers are buying real estate in record numbers, and is one of the fastest growing markets in the real estate industry. Several reasons contribute to this trend. Boomers are buying vacation homes, the are becoming empty nesters and are selling the large family home to downsize, investors are seeking safe places to invest thier money, and the over 65 population are seeking homes to match physcial and financial changes that are occuring in their lives.Don’t call them Seniors! This population is proud to be in this catagory they are among people like Mick Jagger, Aretha Franklin, Cher. They are between the ages of 50-64 years old. They had their children in their 30′s and and the first wave of boomers watched their children graduate from college in 2000.It may surprise you to know that 70% of boomers have a bachelor’s degree or above and have an annual income between $50-75,000. They are physically fit and they are on the move.
If you are a boomer you should know that in 1988 the Federal Housing Act was amended to prohibit discrimination based upon disability or family status. The inclusion of families as a protected catagory raised issues with the operation of retirenent or adult communities, so the amendment included exemptions for housing developements that qualified as housing for persons over the age of 55. We are living longer as a population and we are healthier than ever and the needs of this generation continues to change and as the needs change so will the housing needs change. Buying real estate is still one of the best investments you can make, even with all the bad information the media is putting out about the housing market. A buyers market only means that YOU SHOULD BE BUYING! So consider your options in real estate for your future investments. If you are one of those who needs a vacation home, or need to downsize, or just want a home on one level go to my website www.darlenecherry.com and search for properties.
DARLENE CHERRY
The last three years in the real estate industry have proven to be among the busiest ever in real estate history, even in light of the more recent slowdown. Consumers are not just buying homes to live in; they are also buying homes for a host of other reasons. At the top of the list of reasons is that they want to buy real estate that they can enjoy on a part time basis. Baby Boomers are leading the way and have found their real estate portfolios getting a little bulky.
Baby Boomers are those people born after World War II between the years of 1946 and 1964. These are people who have witnessed life with more stability, at least financially, than their parents. They didn’t go through the Great Depression although they certainly have lived with the scare of communism, friends or family who have served in Vietnam or Iraq. Baby Boomers have led the market with their veracious appetite for anything real estate. So what exactly are Baby Boomers buying and what are they looking for when they make the decision to add to their real estate portfolio?
Baby Boomers were responsible for and involved in almost 40% of all real estate transactions that occurred in 2005 and 2006. Almost 40% of EVERY home bought or sold in 2005 and 2006 was done so by a Baby Boomer. This is a very impressive number and one that can not be overlooked. Baby Boomers know what they want and they are prepared to look for it and to pay for it once they find it. Baby Boomers are dominating the market
Baby Boomers are primarily attracted to two locations. They either want to be near water and recreation or they want to downsize and move into the city where they can be part of the busy bustle of a thriving city environment. They also want low maintenance. Anything waterfront, water view or lakeside is highly sought after by Baby Boomers. Downtown luxury condos are especially popular, but they better be “decked” out with all the finest finishes and amenities. Baby Boomers don’t mind paying for these amenities and they expect the best.
Baby Boomers are using real estate for recreation, wealth building, tax and estate planning. Never before has there been such a high demand and interest for real estate for the Baby Boomer.
Many consumers are extremely nervous about all the BAD PRESS the real estate market has received lately. But the savvy Baby Boomers are wiser than falling prey to media hype about the real estate markets impending doom and gloom. They know that the fundamentals of investing in real estate are sound ones and they know that their long term investment strategy is still best served with real estate investments. Baby Boomers have been around the block financially and they know a good long term safe investment when they see one. While they are watching the news and reading media publications they are paying particularly special attention not because they are worried about the market but because they are excited about the opportunities that the market will bring.
253.861.6805
realestate@darlenecherry.com
13250783
