Tuesday, October 28, 2008

Home Sales RISE!!! (yes, you read that right...and in the MIDWEST!!)

*This is from the NAR (National Association of Realtors). Please note they speak POSITIVE of Kansas & Missouri!!! YEAH!!!*

Existing-home sales increased last month as buyers responded to improved housing affordability conditions, according to the National Association of Realtors®.

Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 5.5 percent to a seasonally adjusted annual rate of 5.18 million units in September from a level of 4.91 million in August. Home sales are 1.4 percent higher than the 5.11 million-unit pace in September 2007.

Lawrence Yun, NAR chief economist, said more markets are seeing year-over-year gains.

“The sales turnaround which began in California several months ago is broadening now to Colorado, Kansas, Minnesota, Missouri, and Rhode Island,” he says. “The South was hampered by much lower home sales in Houston in the aftermath of Hurricane Ike.”

NAR President Richard F. Gaylord says low home prices and low interest rates have helped attract buyers.

“This is the first time since November 2005 that home sales have been above year-ago levels,” Gaylord says. “Credit tightened at the end of September, but the improvement demonstrates that buyers who’ve been on the sidelines want to get into the market to make a long-term investment in their future.”

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 6.04 percent in September from 6.48 percent in August; the rate was 6.38 percent in September 2007.

Yun says there may still be market disruptions.

“The credit markets are not settled yet, although the mortgage market stabilized with the government takeover of Fannie Mae and Freddie Mac," Yun says. "Inventory remains high, and price declines are pressuring owners."

Yun says that an additional housing stimulus would stabilize prices more quickly and help bring faster stability to Wall Street.

"Removing the repayment feature on the [$7,500] first-time buyer tax credit and permanently raising loan limits would bring more buyers into the market and further reduce inventory,” Yun says.

A Closer Look at the Numbers
Total housing inventory
: at the end of September fell 1.6 percent to 4.27 million existing homes available for sale, which represents a 9.9-month supply at the current sales pace, down from a 10.6-month supply in August. This marks two consecutive monthly declines since inventories peaked in July.
National median existing-home price: $191,600 in September, for all housing types. That's down 9 percent from a year ago when the median was $210,500.

“Compared to a fairly small share of foreclosures or short sales a year ago, distressed sales are currently 35 to 40 percent of transactions," Yun says. "These are pulling the median price down because many are being sold at discounted prices. The current market is not being dominated by speculative investors. Rather, 80 percent of current buyers are purchasing a primary residence, which is a bit higher than historic norms.”

Single-family home sales: increased 6.2 percent to a seasonally adjusted annual rate of 4.62 million in September from a pace of 4.35 million in August, and are 3.8 percent above the 4.45 million-unit level a year ago. The median existing single-family home price was $190,600 in September, which is 8.6 percent below September 2007.
Existing condominium and co-op sales: were unchanged at a seasonally adjusted annual rate of 560,000 units in September, but are 15.7 percent below the 664,000-unit pace in September 2007. The median existing condo price was $199,400 in September, down 10.2 percent from a year ago.

By Region
Here's a breakdown across the country of existing-home in September:
West: sting-home sales in the West jumped 16.8 percent to an annual rate of 1.25 million in September, and are 34.4 percent higher than September 2007. Median price: $253,600, down 18.5 percent from a year ago.
Midwest: sales increased 4.4 percent to an annual pace of 1.19 million in September, but are 2.5 percent below a year ago. Median price: $152,500, which is 7.9 percent lower than September 2007.
South: sales rose 2.2 percent in September to a pace of 1.9 million but remain 7.8 percent below September 2007. Median price:$167,200, down 4.1 percent from a year ago.
Northeast: sales slipped 1.2 percent to an annual pace of 840,000 in September, and are 7.7 percent lower than a year ago. Median price: $246,800, down 5.4 percent from September 2007.

Wednesday, October 22, 2008

Cool Quotes to get you thinking, making you laugh...and just enjoy!

It seems every where you look there is a quote for something. I was in a training class last week and in our "success tracker" each section has it's own quote...and they are all great. My friend Ashley always has quotes at the bottom of her emails...and they are always great. So I thought I'd just share a few recent ones. If you have some you like, pass them along!

  • "Sometimes the best things are right in front of you, it just takes some time to see them." - Gladys Knight
  • "Sometimes in the einds of change we find out true direction" - Unknown
  • "80% of the consequences flow from 20% of the causes. 80% of the results come from 20% of the effort and time." - Pareto's Law
  • "A schedule defends from chaos and whim" - Annie Dillard
  • "What we fear doing most is usually what we most need to do" - Timothy Ferris
  • "There is no such thing as a "self-made" man. We are made up of thousands of others." - George Burton Adams
  • "Relationships are all there is. Everything in the universe only exists because it is in relationship to everything else. Nothing exists in isolation." - Margaret Wheatley
  • "The more we care for the happiness of others, the greater our own sense of well-being becomes." - Dalai Lama
  • "The system is the solution" - AT&T
  • "Just set it and forget it!" - Ron Popeil
  • "I not only use all the brains that I have, but all that I can borrow." - Woodrow Wilson
  • "Adults are always asking kids what they want to be when they grow up because they are looking for ideas!" - Paula Poundstone

Monday, October 20, 2008

Chiefs Game ....cheerleaders

Can you believe I've gone to TWO professional football games THIS season?? I'd only been to one in my life before this year! Crazy.

The Chiefs were having their first ever Chief's Cheerleaders reunion day. As many of you know, my friend Ashley has been a cheerleader on many professional teams. She is currently a Brigades Cheerleader but has done the Spurs, Mavericks and the Chiefs. She's very talented. Before meeting her I definitely believed the "stereotypes" of the "typical" cheerleader...but she has proven them wrong. I see how hard she practices for each performance. And let me tell ya, after going to her Brigade tryouts a few weeks ago...those are some fast moves!!

So, they decide to have this reunion. VERY unimpressive if you ask me. The girls are asked (via email) to come back. They must by their own ticket, if they'd like a "reunion shirt" they must pay for that, they have a tailgating tent but there is NOTHING at it (they could bring their own food and drinks), they go on the field before the game to take a picture (they are suppose to get this...we shall see) and they are suppose to mention that the girls are their during half time (which didn't happen). We left at the begining of the 4th quarter, so maybe they mentioned it after we left....but I doubt it. I think if you are going to have a reunion and try to get people to come, maybe you should actually ACT like you appreciate the hard work they did. The least they could have had was some food at the tent and acknowledgement of their existance.

....maybe next year.

Monday, October 6, 2008

Change is a good thing....

Well, as many of you know by now I have made a change! After 6 years with Reece & Nichols I have decided to switch to Re/Max State Line. I have nothing bad to say about Reece & Nichols - it's a great company. They have many tools for both clients and agents. But, I needed a change. I was in a rut and needed something to jump start me. I believe this change to Re/Max is just what I need. I went with a fellow co-worker, which has been a good thing. For those of you who (had the unfortunately "pleasure") were around me last week...It was a HARD week. I didn't realize how much stuff needed to be switched over and changed. Though, it gave me a good excuse/reason to contact all my friends, family & clients!!! I think I'm finally "back to normal" and ready to head feet first into things! There are a ton of things to learn and I'm excited about that. I believe Re/Max will prove to have just as many tools and resources as available at R&N (and probably most big R.E. companies for that matter).

I appreciate everyone's well wishes! I am excited for this new opportunity and can't wait to help you as a Re/Max agent!!! Don't forget to continue giving out my information to everyone you know...I LOVE referrals. If you need additional business cards, please let me know! And you can always call or email me! My new email is: jodi@jodidanziger.com

Thanks again for your continued support!