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Articles Tagged "Economics"

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May
14

Video: Hope and Confidence.

 

 

May
13

A DAY TO CELEBRATE!!

In fact, is ONE Day enough??

April
29

August
21

 

Existing Home Sales Strengthen!!

https://rismedia.com/2019/08/21/existing-home-sales-strengthen-2/

July
9

Learn everything you need to know before buying a house!!

March
13

45 Times Wealthier!!

https://www.linkedin.com/feed/update/urn:li:activity:6510830762672082944/?fbclid=IwAR1HXt0cIHYXUsSez__OiqZ1ZGkSaNKrqYFq1K2vQ2fyAk7sQlMWq5ShgRg

February
14

(Click to Enjoy the Video)

October
8

A Great Time to be Selling Your Home!!

Top 10 Cities where Homes are Vanishing Fastest. 

9. Richmond, VA  (According to Realtor.com)

Median list price: $311,500
Decrease in inventory: -36.8%
Drop in square footage on the market: 4,192,000

The job market in the capital of Virginia is on a tear, and so are home prices—up 7% in August year over year, after a 9% jump the year prior. And around 1 in 3 homes in Richmond end with multiple offers.

The amount of lost inventory in Richmond is equivalent to more than eight James Monroe Buildings, the tallest building in the city. (It's a 29-story office tower with about 500,000 square feet of space.)

The housing shortage would be even lower if home builders weren't putting up new homes at a frantic pace. New construction accounts for 27.6% of homes in Richmond for August.

July
12

We're #4!! We're #4!!

https://www.richmond.com/business/local/virginia-moves-up-again-in-cnbc-rankings-of-best-states/article_c7b0eab3-beba-5bbc-bc38-2f5e693221e3.html?utm_source=RTD%20Email&utm_medium=_Breaking%20News&utm_campaign=_Breaking%20News

February
21

From US News and World Report:

https://realestate.usnews.com/real-estate/articles/why-you-should-sell-your-home-in-2018

January
3

August
24

August
17

http://rismedia.com/2017/08/16/home-prices-surge-strong-buying-season/?utm_source=newsletter&utm_medium=email&utm_campaign=eNews#close

July
25

Is 20% downpayment still a good Idea?

http://www.marketwatch.com/story/nobody-puts-20-down-on-a-house-anymore-2017-07-24

July
12

May
22

The Week Ahead: Prices Still Rising, Inventory Still Dropping

On Wednesday, at 9 a.m. EST, the Federal Housing Finance Agency (FHFA) will release its House Price Index (HPI) for March. The Index covers single-family housing, using data provided by Fannie Mae and Freddie Mac.

Previously, the FHFA reported in its February HPI that home prices rose 0.8 percent month-over-month. In the report, January's former unchanged index was revised to a 0.2 percent increase.

On a seasonally adjusted national level, prices are now nearly 10 percent higher than their March 2007 peak. Prices have seen a compound annual growth rate of 3.5 percent since 1991, 3.4 percent since 2000, and 6.2 percent since 2012.

Out of all nine census divisions, the Mountain region saw the biggest annual increase in prices, with a 9.5 percent uptick over the year. The region includes Montana, Idaho, Wyoming, Nevada, Utah, Colorado, Arizona, and New Mexico. The Pacific division—Hawaii, Alaska, Washington, Oregon, and California—saw a 7.6 percent annual rise, while the Middle Atlantic—New York, New Jersey, and Pennsylvania—saw the least year-over-year growth with just 4.6 percent.

Other Indices have been reporting similar increases, such as First American's Real House Price Index (RHPI). The RHPI revealed that home prices have dropped by 32.8 percent since the pre-recession peak, but are still at a relative high. Real house prices rose 0.7 percent between January and February. The low inventory has meant that home prices have remained high.

"The main story in most markets this spring is the lack of supply. Combined with unfaltering demand, the lack of supply continues to pressure unadjusted prices higher in one of the strongest spring sellers' markets seen in recent memory," said Mark Fleming, Chief Economist at First American.

April
26

On the 8th Day, God made a REALTOR(r) (By Steve Harvey)
https://www.youtube.com/watch?v=nXQusdbG4vw&sns=fb

February
21

Housing Now Biggest Item in Household Expenses

http://rismedia.com/2017/02/20/housing-costs-biggest-share-income/?utm_source=newsletter&utm_medium=email&utm_campaign=eNews#close

January
25

Real Estate in Virginia is Soaring !!

http://varbuzz.com/2017-01/news-alert-virginia-home-sales-report-shows-impressive-gains-for-2016/

 

 

September
26

Tired of RENTING?  Why not OWN?

 https://youtu.be/WahWgzckHIg

September
1

Report shows Homeowners do better than Renters:
http://www.marketwatch.com/story/heres-how-americans-are-spending-their-money-2016-08-31

 

August
2

U.S. New Home Sales Rise...

...to near 8.5-year high in June of 2016!!

July
1

June
3

Single Women Buying Homes

http://www.housingwire.com/articles/37166-single-women-make-up-second-largest-homebuyer-group?eid=311683314&bid=1421271

 

April
15

February
5

New Homes Market Growing

http://www.richmond.com/business/local/article_d3c5dd5c-9b9f-5b4b-a693-899d83df7d15.html

January
27

Home Sales Are Up 14%!!!

 

http://www.richmond.com/business/local/article_3c2cb2ce-37db-5755-98c8-4e6f8088fe94.html

January
21

January
13

Richmond is Predicted to be the 4th Hottest Real Estate Market in 2016 !!

 
http://www.richmond.com/business/local/article_55aed777-ec64-51b9-a6bd-909b319f23a1.html
December
17

National Association of REALTORS(r) Looks at 2016

http://www.realtor.com/news/trends/five-key-trends-for-2016/?identityID=563cc589da2572ef260062b8&MID=2015_12_MonthlyNewsletter&RID=3520681082&cid=eml-2015-12-MonthlyNewsletter-sub1_realestatetrends-blogs_trends

October
5

A Positive Market Outlook for the next year or more.

 

http://rismedia.com/2015-10-04/real-estate-market-to-continue-economic-expansion-through-2017/

September
18

July
29

Va. home sales record strongest second quarter in seven years - By CAROL HAZARD Richmond Times-Dispatch 

The Virginia residential real estate market saw its strongest second quarter since the 2008 recession, with sales volume reaching $10.6 billion, up 11 percent from the same period a year ago, according to a report released Tuesday by Virginia Association of Realtors.

The rise in dollar value was attributed to an increase in the number of homes sold, since the median sales... price — with half the homes selling for more and half for less — fell slightly.

The median price in Virginia was $259,990 in the second quarter, down 2.6 percent from the same period a year ago, according to the report.  The number of sales statewide in the same time period rose 9.9 percent to 31,650.  The median price rose in six of seven regions, including central Virginia, where it ticked up 5.7 percent in the second quarter to $219,000 from a year ago.

Central Virginia is made up of Richmond, the Tri-Cities and 18 surrounding counties. (The Richmond Association of Realtors reported last week that the median sales price was $223,530 for the 16-jurisdiction that makes up its Central Virginia region.)

The number of sales in the region during the quarter rose 13.9 percent from a year ago to 5,336, the Virginia Association of Realtors said. "The strength of these second-quarter results points to sustained improvement in Virginia's residential real estate market," said Deborah Baisden, president of the Virginia Association of Realtors.

July
16

Forbes Quotes LPL Research and says that Virginia is the best state in the nation to prepare for retirement.  While it is not saying it is the best place to retire, it is the best place to get to that wonderful place called Retirement.

 

July
13

One of my favorite Historical quotes about our Real Estate industry:

WHAT IS THE REAL ESTATE BOARD?

"The Real Estate Board is to the Real Estate profession what the Bar Association is to the lawyer and the Medical Association is to a doctor. It is a force for good. It is a force for the betterment of its practitioners and the public they serve. In such an association there are crystallized the rules of conduct, the guides and standards of stern discipline, which proclaim to the community the sense of integrity and the high qualities and ideals which you demand and which characterize the service of men of good will engaged in an honorable profession."

Justice Frankenthaler of the New York Supreme Court  1930's & 1940's

March
6

In spite of 2 real estate recessions in the past 25 years, where prices declined for the first time in over half a century, homeowners in America still regard owning a home as an excellent investment.  THEY ARE RIGHT!!.  Home Ownership is probably the best, most stable and most practical investment anyone will make in the course of their lifetime.

February
27

November
6

Richmond-area home prices up 3.2% in Sept. from year ago - goo.gl/alerts/nncd
#GoogleAlerts

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