This report from Rueters gives great information for home owners hoping to take advantage of low interest rates. The challenge we face in the real estate market is finding comparable sales that will hold up to the extreme underwriting scrutiny and that challenge is even moreso with a refi. At least in the appraisal related to a sale the appraiser has a target purchase price to prove or disprove. In a refinance the open ended nature often leaves the appraiser unfocused and that is where personal bias can come in.
Providing the information and atmosphere suggested in the story may make the difference.
To read this informative article by Lou Carlozo – CLICK HERE
Here at the beach we are part of such a small market it is easy to get focused on our own stats and lose track of what is going on in the "bigger picture". This article is very informative and somewhat mirrors what we are seeing locally.
The beach community of Seabrook continues to grow and thrive thanks to the thoughtful design and positive energy that the founders and home owners generate every week end. Owning at Seabrook is a "lifestyle choice" made as much on the idea of new beach urbanism as it is owning coastal real estate.
To read more about this charming village CLICK HERE
To find out about New Construction Pricing/Options, Resale Opportunities or Foreclosure/Short Sale offerings at Seabrook CLICK HERE or call me at 360-581-3399
This national report points out many things we have been seeing here in Western Washington this year. Stability is the first step for recovery and most markets are seeing a more stable real estate market on their horizons. To read the full report CLICK HERE.
More encouraging news on the recovery of our real estate markets around the country.
Bloomberg report looks favorable for continued improvement around the country for real estate values. Here on the South Beach activity in the mid-range properties ($150k to $250k) has increased noticeably. Lot pricing remains artificially depressed and represents the best investment opportunity.
Another report of improving real estate markets around the country. Great information going into what looks to be an excellent Spring & Summer at the beach!
To read the article published from RIS Media CLICK HERE
2012 looks like the year things in the world of real estate start turning around. Here on the South Beach our limited supply puts us in a market that responds very quickly and dramatically to national trends. To review the freshest information on market trends around the country
On the South Beach, comparing 1 year residential sales from April 1st, 2010 to the end of March 2011 with April 1st, 2011 until end of March 2012 the following statistics confirm the national market trend:
South Beach Residential / Condominium Unit Sales:
20% Increase in Unit Sales Volume
15% Reduction in “Days on Market”
33% Reduction in “List Price / Sale Price” Ratio (10% to 7%)
8% Reduction in Average Sales Price
This last statistic is an important indicator that while prices dropped on the average from the previous years sales, the amount was not severe and coupled with all of the other indicators showing positive trends… to me verifies that values will continue to rise and our return to a stable market is well underway. Feel free to email or call to discuss these trends ro to schedule an appointment to look at available properties in our beautiful beach community.
This report from DSNEWS is encouraging as it creates structure and a timeline in the short sale market that has prevented inventory from moving. This is a very positive sign for continuing improvement of market trends.