I was asked about the market during the last (significant) recession of 1982 and this is what I remember most… …that there was very little debt, a lot of the real estate was paid for, so to get it sold, we used the contract for deed instrument most of the time and with amazing results….
Real Estate and the Average American. Most of the people in America are average working folks with families, jobs, houses and payments. We have tuition payments, car payments, utility bills, medical bills, mortgages and more…basically 8 days of payments on a weekly paycheck. So for most Americans, this is normal. The one thing that Amercians…
I read the Alexandria paper this week and it said that home sales were up statewide up over 5% this year from last year. So I thought that I’d better check the local data. My findings are still very similar to earlier first quarter reports. Closed sales in Douglas County from January 1st to May…
In looking at the data this moring for inventory, I find that last year on this date, we had 318 residential listings in Douglas County. This year now, we have 295. Maybe, just maybe, we will start to see some let up on the supply side. In lakehomes, we had 234 listings on this date…
MinnesotasHomeownershipRateSoars From a report in 2000, it showed that Minnesota had one of the highest in the nation for homeownership. Source: Minnesota Association of Realtors, Minnesota Planning Offices
WhyHomeSalesWillRiseThisYear I retrieved this article from the National Association of Realtors magazine. Read this story… ~More Jobs ~Rising Stock Market Wealth ~Rising Apartment Rents ~Continuing High Affordability Conditions ~Home Values at Historically Justifiable Levels ~Investors Looking to Hedge Against Inflation ~Foreigners Buying U.S. Homes on the Cheap …there’s more in the article Source: National Association…
ExistingHomeSales.April2011The April report showed a dip from March of about 40,000 units. The news media just pounces on this stuff. What they don’t tell you is the 2009 and 2010 sales years both had TAX CREDITS fueling the sales data. In 2011, NO TAX CREDITS and the sales are above what they were last year….
Doing the lakehome sales closed data for the year, I find the following information to share… Closed lakehomes for Douglas County from the 1st of each respective year to May 20th of each respective year shows the following data: 2011: 15 Closed Lakehome Sales 2010: 26 Closed Lakehome Sales 2009: 15 Closed Lakehome Sales 2008:…
According to the Multiple Listing Service this morning, sales are hangin in there. Looking at data going back a few years (recession era), this is a real market…no government induced tax credits! Here is the data for sales closed in the Greater Alexandria Area Association of Realtors Multiple Listing Service in Douglas County… 77 Closed…
Death of McMansionPulled this article from Slate. Dated May 11th, 2011, this is one man’s opinion about the future of housing…you might want to consider his thoughts. I tend to run a close parallel with this thinking for the moment. We won’t know the answer to all of this for about 5 years from now….
