Hi!
Richard here again.
I would like to share with everyone something you may not be used to seeing.
GOOD news!!!
Below is an article recently forwarded to me by one of the local mortgage agents. I think you will enjoy it.
What are real estate professionals saying to homebuyers and sellers about current market conditions? The successful brokers and sales associates are talking about the strengths that exist in the market — not the negative media hype. Below are positive angles that appeared recently in the media and underscore why it is a good time to buy real estate.
Recent Quotes & Excerpts about the Positive Signs in the Real Estate Market:
Realty Times: Housing Turnaround in Sight
“We're past the rock bottom of the down cycle for real estate and now we're moving into recovery mode. Sales and pending sales of homes have turned up sharply in hard-hit markets. House prices are more affordable. Consumer confidence polls show slight but noteworthy improvements in the public's outlook.
Ø Consumer sentiment is improving: A survey of 15,000 adults by Discover Financial Services recorded a significant jump in confidence between February and March. A New York Times/CBS poll of 1,000 consumers found the same.
Ø More Buyers Looking at New Homes: Members of the National Association of Home Builders reported that shoppers' visits to look at new houses for sale are "on the rise and consumer interest is increasing.” The association also announced that more than half of all U.S. households -- 55 million of them -- can now afford to buy the median priced $200,000 new home. That's up 45 percent in the past 24 months.”
-- “Real Estate Outlook: A Turnaround May Be In Sight,” by Kenneth R. Harney, Realty Times,
April 14, 2009.
International Buyers Bullish on U.S. Housing Market
According to Manfred Chemek, CCIM, CEO of Manhelm International, LLC an international real estate investment and consulting firm with offices in the United States and Europe:
Ø “I've been in Korea, China, Germany, the UK, and Russia talking to investors there, as well as the Middle East, the UAE countries, Dubai, and Abu Dhabi, places where the investors are coming into the U.S. at this current time. What I found is that those who have cash available see the U.S. as the most attractive market.
Ø Sometimes we overlook that real estate has continued to be the best investment vehicle. Real estate in the [New York metropolitan] area is doing well and that's true in other parts of the country as well. Even if you look at foreclosures, etc., almost 85% of all mortgages are being paid on time or people own their property outright. The media concentrates on the 15% and this often confuses the general public.”
-- “International Investors Bullish on America; See Opportunities in U.S. Real Estate,” by Peter L. Mosca, Realty Times, April 16, 2009.