|
|
Excerpt from the National Association of REALTORS Cheif Ecomomist interview. full article
Yun: It’s all a matter of perspective. Home sales do continue to be soft. We’re predicting existing-home sales to be down 7 percent year-over-year at the end of 2007, but that’s coming off a five-year boom. We’re forecasting a sales level near what we had in 2002, a very good year, and a level that’s far closer to normal than what we’ve been seeing over the past four years.
At the same time, price appreciation is holding up better than media reports would have us believe. In data we collected this fall, two-thirds of markets reported positive price growth in the third quarter, up from half of all markets in the second quarter. In markets where prices continue to be down, the declines are minimal, 1 percent to 2 percent. Only a very few markets are seeing declines higher than 5 percent.
RM: Why the dramatically different picture than what some analysts are seeing?
Yun: In some ways we’re tracking different things. We use MLS data, so our figures are as timely as possible and are more representative of markets. Shiller uses county records and mortgage data from the secondary market. These sources lag further than ours and they capture a disproportionate percentage of higher-priced homes. full article
|
|
|
St. Louis Market Watch
Newly listed properties and properties back on the market…..1,911*
Expired listings, price adjustments, and removed listings…..3,985*
Closed sales, under contract firm and contingent…..1,821*
Current properties for sale…..30,159*
*Numbers obtained through the Mid America Regional Information Systems MLS and represent activity for the past 7 days.
|
|
$$$
|
Know Your Zone
You know how much you want your monthly payment to be. Calculate the price and find your comfort zone...
|
 |
Easy Search! Expert, REALTORS shop from home. Tired of visiting site after site and property after property. Get one link to all of the listed properties that match your criteria today. In fact you will be among the first to know about new listings, price changes and more. Your inbox will allow you to shop the MLS, save the property you like and discard the property you don't.
It's fast, easy and FREE. Sign-up now.
|
 |
The Long View
by Lawrence Yun, Vice President, NAR Research
Because of the power of leveraging, $10,000 used for a down payment on a typically priced home in the United States at a typical appreciation rate of 5 percent will return $110,000 after 10 years. The same $10,000 invested in the stock market appreciating 10 percent annually will result in $23,600. No wonder the data from the Federal Reserve show consistent results year-after-year of the staggering difference in net worth between homeowners and renters. A typical homeowner had $184,400 in net worth versus only $4,000 for a typical renter. Read the full article here.
|
 |
Buyer Specialist Services are almost always provided for FREE at Expert, REALTORS. One of our experienced Buyer Specialists will take you through the buying process and help you find your dream home at no cost to you. Contact us for more details. |
| ABOUT US |
Expert, REALTORS operates in the entire St. Louis metro area. Our experienced field agents live in the communities where they work and each participates in ongoing training. Our CEO and Broker is Jim Hurley a 20 year real estate veteran who is committed to the real estate industry. Jim is Chairman of Ethics and Professional Standards at the St. Louis Association of REALTORS, a Director at both the local and state levels and serves on the local contract and forms committee. |
|
Sincerely,
Natalie Barber
Expert Realtors
St. Louis, MO
Phone: 314-373-4244
http://www.findingstlouishomes.com/
Manage Your Newsletter Subscription:
[SUBSCRIPTIONS]
|
