The facts of residential real estate have remained consistent in 2017. In year-over-year comparisons, the number of homes for sale has been fewer in most locales, and homes have been selling in fewer days for higher prices. This hasn’t always been true, but it has been a common enough storyline to make it an overarching trend for the year.
New Listings were down 17.4 percent for single family homes but increased 6.3 percent for Condo/TIC/Coop properties. Pending Sales decreased 6.7 percent for single family homes and 14.4 percent for Condo/TIC/Coop properties.
The Median Sales Price was up 10.9 percent to $1,500,000 for single family homes and 17.0 percent to $1,237,500 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 33.3 percent for single family units and 16.0 percent for Condo/TIC/Coop units.
New tax legislation could have ramifications on housing. The White House believes that the tax reform bill will have a small impact on home prices, lowering them by less than 4 percent, and could conceivably boost homeownership. The National Association of REALTORS® has stated that eliminating the mortgage interest deduction could hurt housing, as the doubled standard deduction would reduce the desire to take out a mortgage and itemize the interest associated with it, thus reducing demand. This is a developing story.
Click here for full report: SFAR_MarketFocus_2017-Nov
This life will go by fast.
Don’t fight with people, don’t criticize your body so much, don’t complain so much.
Don’t lose sleep over your bills. Look for the person that makes you happy. If you make a mistake, let it go and keep seeking your happiness.
Never stop being a good parent. Don’t worry so much about buying luxuries and comforts for your home, and don’t kill yourself trying to leave an inheritance for your family. Those benefits should be earned by each person, so don’t dedicate yourself to accumulating money.
Enjoy, travel, enjoy your journeys, see new places, give yourself the pleasures you deserve. Allow dogs to get closer. Don’t put away the fine glassware. Utilize the new dinnerware; don’t save your favorite perfume, use it to go out with yourself; wear out your favorite sport shoes; repeat your favorite clothes.
So what? That’s not bad. Why not now? Why not pray now instead of waiting until before you sleep? Why not call now? Why not forgive now? We wait so long for Christmas; for Friday; for Reunions; for another year; for when I have money; for love to come; when everything is perfect…look…
Everything perfect doesn’t exist. Human beings can’t accomplish this because it simply was not intended to be completed here. Here is an opportunity to learn.
So take this challenge that is life and do it now…love more, forgive more, embrace more, love more intensely and leave the rest in God’s hands. Amen.
These four older ladies who lived in Naples, Italy, usually sat outside together near the church and chatted about when they were younger.
One month ago they pooled their money together and bought a laptop.
Never having been to, but having heard all about Florida, they just happened to click on St. Augustine, Florida.
They read all about the Fountain of Youth, claimed by the Spaniards when they arrived there.
They collected up all they had left and sent for four bottles of the water.
As soon as it arrived, they drank as directed.
The rest of this story will make you a believer, because here they are today…
No. This is TRUE! Really!
Would we lie to you?
We have a limited supply of this water available at an incredibly low price of just $199.95 a bottle Plus S & H and a separate fee.
Seriously. Hurry before the inventory runs out!
Make checks payable to: Republican National Committee.
You can trust us: You know we would NEVER lie to you, especially about your healthcare or your taxes.
A young man named Ron received a parrot as a gift. The parrot had a bad attitude and an even worse vocabulary.
Every word out of the bird’s mouth was rude, obnoxious and laced with profanity.
Ron tried and tried to change the bird’s attitude by consistently saying only polite words, playing soft music and anything else he could think of to ‘clean up’ the bird’s vocabulary.
Finally, Ron was fed up and he yelled at the parrot. The parrot yelled back. Ron shook the parrot and the parrot got angrier and even more rude. Ron, in desperation, threw up his hand, grabbed the bird and put him in the freezer. For a few minutes the parrot squawked and kicked and screamed.
Then suddenly there was total quiet. Not a peep was heard for over a minute.
Fearing that he’d hurt the parrot, Ron quickly opened the door to the freezer.. The parrot calmly stepped out onto Ron’s outstretched arms and said “I believe I may have offended you with my rude language and actions. I’m sincerely remorseful for my inappropriate transgressions and I fully intend to do everything I can to correct my rude and unforgivable behavior.
Ron was stunned at the change in the bird’s attitude.
As he was about to ask the parrot what had made such a dramatic change in his behavior, the bird spoke-up, very softly.
“May I ask what the turkey did?”
For residential real estate in 2017, the news has continued to provide a relative sense of calm for both buyers and sellers. The national unemployment rate registered in at 4.1 percent for October 2017, which means that joblessness has not been this low in the U.S. since December 2000. Another positive, mortgage rates have held steady at or near 3.9 percent. Historically, the average rate has been around 6.0 percent. These factors help to keep the pool of potential buyers full, even during the so-called off-season of home sales.
New Listings were down 0.5 percent for single family homes and 2.3 percent for Condo/TIC/Coop properties. Pending Sales increased 12.2 percent for single family homes and 32.1 percent for Condo/TIC/Coop properties.
The Median Sales Price was up 13.4 percent to $1,588,000 for single family homes and 0.2 percent to $1,140,000 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 29.6 percent for single family units and 28.6 percent for Condo/TIC/Coop units.
Although inventory levels are low in many markets, there has largely been enough listing and building activity, or at least conversation about future activity, to maintain a positive attitude about the prospects of buying or selling a home. Low affordability has started to become a recent topic of conversation and is worth watching. But with a healthy economy, level of demand and national unemployment rate, sellers are going to continue to see strong prices for their homes.
For full report, click here: SFAR_MarketFocus_2017-Oct