Equity and Appreciation

Financial Health and the Role of Home Ownership

The analytics of tracking home ownership and its potential to impact on our personal wealth has made tremendous improvement over the recent years.   The National Association of Realtors recently undertook a steady to review single family home prices over the last 30 years and the gains they make based on those years. They released...

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Building Permits Start Fast in 2020

In the world of housing starts, January was a very good month. Data released by government trackers indicates that more than 1.5 million building permits were issued in the first month of 2020. This is a little over 9% increase from December of 2019 totals. It goes to reason that the number of building...

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For those who were expecting a year like last the 2020 residential real estate market Demonstrated it was willing to throw some surprises their way.  Many experts suggest that the recent rate declines Could help to contribute to helping that trend continue. Zillow economist, Jeff Tucker, has said that the data he has looked at could contribute to the “most competitive home shopping season in years, as buyers are already competing over homes for sale.” Strong Start with Stable Trends Buying demand is very strong. The latest Showing Index from Showing Time reported a 20.2% year-over-year increase in purchaser traffic across the country, the sixth consecutive month of nationwide growth, and the largest increase in the history of the index. The even better news is that buyers are not just looking. The latest Existing Home Sales Report from the National Association of Realtors (NAR) showed that closed sales increased 9.6% from a year ago. This increase in overall activity has caused Zelman & Associates to increase their projection for home price appreciation in 2020 from 3.7% to 4.7%. Are we headed for another housing crash like we had last decade? Whenever price appreciation begins to accelerate, the fear of the last housing boom and bust creeps into the minds of the American population. The pain felt during the last housing crash scarred us deeply, and understandably so. The crash led us into the Great Recession of 2008. If we take a closer look, however, we can see the current situation is nothing like it was in the last decade. As an example, let’s look at price appreciation for the six years prior to the last boom (2006) and compare it to the last six years: There’s a stark difference between these two periods of time. Normal appreciation is 3.6%, so while current appreciation is higher than the historic norm, it’s certainly not accelerating beyond control as it did leading up to the housing crash. Today, the strength of the housing market is actually helping prevent a setback in the overall economy. In a recent post, Odeta Kushi, Deputy Chief Economist for First American explained: “While the housing crisis is still fresh on the minds of many, and was the catalyst of the Great Recession, the U.S. housing market has weathered all other recessions since 1980. With the exception of the Great Recession, house price appreciation hardly skipped a beat and year-over-year existing-home sales growth barely declined in all the other previous recessions in the last 40 years…In 2020, we argue the housing market is more likely poised to help stave off recession than fall victim to it.” The year has started off very nicely for the residential housing market. If you’re thinking of buying or selling, now may be the time to get together to discuss your options.

Today’s Soaring Markets vs 2008

For those who were expecting a year like last the 2020 residential real estate market demonstrated it was willing to throw some surprises their way.  Many experts suggest that the recent rate declines could help to contribute to helping that trend continue. Zillow economist, Jeff Tucker, has said that the data he has looked...

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Seniors Alternatives in Home Ownership

Seniors Considering Alternatives to Aging in Place

Is 'Aging in Place' the Right Decision for You? It is a part of human nature to become attached to the things you are most familiar with. In many cases there can be no better example  than choosing to age in place or downsize to other alternatives. The familiarity of your current home is an...

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Decline in Inventory. List you home now

If you have spent any time reviewing the current market trends in real estate for the Grays Harbor region you probably already understand the lack of new home construction has negatively impacted the number of available homes in communities throughout the area. Additionally, the already existing inventories of homes for sale continues to shrink....

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