Monthly Archives: April 2011

Confidence in Home Ownership Headed In Right Direction

April 25, 2011Posted by jim_gillespie in General

I’m using my iPad more and more to get my news, but I still love “old fashioned” newspapers and magazines. On one of my recent – and many – flights to visit with Coldwell Banker agents around the country, I stopped in the Hudson News at Newark Airport and picked up Money Magazine.

When I got to the back page and saw the chart, I have to tell you my smile went ear-to-ear. Consumers are showing renewed confidence in housing!

Money asked its readers, “Is this a good time to buy real estate?”

The results:
1) 48% said it was a great time to buy
2) 26% said it was an OK time to buy
3) Only 26 % thought it was probably not a good time or was a bad time to buy

As the economy continues to improve, confidence in home ownership should also rise. This survey shows that we are headed in the right direction.

Media price analysis shows that changes in home value often vary from town to town

Posted: Saturday, April 2, 2011 6:30 pm | Updated: 5:50 pm, Sun Apr 3, 2011.

Media price analysis shows that changes in home value often vary from town to town.

Realtors are fond of saying that all real estate is local, and a Press of Atlantic City analysis of home sales in the region shows that’s the case.

In 2009, individual municipal housing markets in Atlantic, Cape May, Cumberland and Ocean counties varied significantly in the shifts in their median home prices and in the number of sales.

Even similar and adjacent towns such as Linwood and Northfield, for example, saw substantial differences.

In Linwood, median prices in 2010 were up 4 percent from the year before, while the number of sales fell 11 percent. Next door in Northfield, prices were 11 percent lower, but sales increased 3 percent.

Median prices and sales were produced from analysis of state property records.

Housing Affordability Reaches 20 Year High

Housing Affordability Reaches 20 Year High
by Carla Hill

Housing affordability is higher today than it has been for decades. What does this mean for today’s buyer? It means now is the time to buy.

According to the latest National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) data, “73.9 percent of all new and existing homes sold in the fourth quarter of 2010 were affordable to families earning the national median income of $64,400.”

“Today’s report shows that housing affordability at the end of 2010 was at its highest level since we started computing the HOI,” said Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev. “However, while this is good news for consumers, both home buyers and builders continue to confront extremely tight credit conditions, and this remains a significant obstacle to many potential home sales.”

Are you looking for the best of the best when it comes to affordable markets? Indianapolis-Carmel, Indiana, is a great place to start. It was ranked as the most affordable housing market in the entire country. Ninety-three percent of homes sold in the city were affordable to households earning to area median of $68,700.

On the opposite end of the spectrum, Santa Cruz-Watsonville, CA, was ranked as the least affordable city in the country. Only 45 percent of homes were affordable to families making the median household income of $84,200.

Also near the bottom of the list, according to the NAHB, were: Ocean City, N.J; San Luis Obispo-Paso Robles, Calif.; Laredo, Texas; and Santa Barbara-Santa Maria-Goleta, Calif.

Nearly all of the lowest range major metro areas were in California, which is not surprising considering the housing bubble that formed in the early 2000s.

Published: February 23, 2011

Coldwell Banker iAd for iPad

Coldwell Banker is the first real estate company to work with Apple on an iAd