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Is The Housing Market Recovering In Lakewood?

by The Apples Team

WASHINGTON (April 26, 2012) – Pending home sales increased in March and are well above a year ago, another signal the housing market is recovering, according to the National Association of Realtors.

The Pending home sales,  a forward-looking indicator based on contract signings, rose 4.1 percent to 101.4 in March from an upwardly revised 97.4 in February and is 12.8 percent above March 2011 when it was 89.9. The data reflects contracts but not closings.

The index is now at the highest level since April 2010 when it reached 111.3.

Lawrence Yun  NAR chief economist, said 2012 is expected to be a year of recovery for housing. “First quarter sales closings were the highest first quarter sales in five years. The latest contract signing activity suggests the second quarter will be equally good,” he said.

“The housing market has clearly turned the corner. Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses,” Yun said.

The PHSI in the Northeast slipped 0.8 percent to 78.2 in March but is 21.1 percent above March 2011. In the Midwest the index declined 0.9 percent to 93.3 but is 16.9 percent higher than a year ago. Pending home sales in the South rose 5.9 percent to an index of 114.1 in March and are 10.6 percent above March 2011. In the West the index increased 8.7 percent in March to 108.0 and is 9.0 percent above a year ago.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

Lakewood Garage Sales - April and May

by The Apples Team

The rain last Friday did not deter our second round of garage sales in Lakewood.  We had a great turnout on Saturday on Hazelbrook, Graywood, Fidler, Dagwood, Premiere and Brierecrest.  We are looking forward to the next round scheduled for May 5th on Ashworth, Lakewood Ponderosas, Pearce, Lorelei, Whitewood, Coldbrook and Dunrobin.  Looking forward to seeing everyone!

Ticking Time Bomb?

by The Apples Team

Do you owe more on your home than it is worth?  Looking For an honorable solution That can help you and your credit recover? If you, or anyone you know are considering doing a short sale you will need to make a swift decision.  Many short sales are taking anywhere from 4 to 8 months to complete, so time is running out to qualify under the Mortgage Forgiveness Debt Relief Act and Debt Cancellation.   If you do not complete your short sale before January  1, 2013 you may be held responsible for the difference as taxable income. At this moment in time there no clear understanding as to whether Congress will extend this deadline or not.

Web Link To IRS: http://www.irs.gov/individuals/article/0,,id=179414,00.html

We have successfully helped short sale owners and/or buyers and we can assist you too!

Example: If you owe $400,000 on your property and it sells for $300,000, at a 28% tax rate, the settlement difference of $100,000 is $28,000 in taxes you may owe! But, if you complete your short sale prior to the expiration date you may not have to claim that $100,000 as taxable income.

A short sale is a tool which enables you to avoid foreclosure and lessen potential long term damage to your credit rating, as well as the negative tax implications you may experience on a foreclosure. Short sales are not easy, nor are they fun, but they can save sellers from      having a foreclosure on their credit record for 10 years and in many cases  allow them to  obtain a new loan in as little as 2 years.  Time is of the essence, so please  contact us  as soon as possible and let us use our considerable experience to help guide you through this      challenging process.     Perhaps you should consider a no-cost short sale.  There is no obligation.   Please call (562) 221-2794 or (562) 900-6761

 

 

It's A Great Time To Sell or Buy In Lakewood

by The Apples Team

New Prudential Real Estate Poll: Americans Increasingly Optimistic About Homeownership

Prudential Real Estate released a new national survey showing that Americans are significantly more optimistic about homeownership than they were a year ago.

According to the second-annual Prudential Real Estate Outlook Survey, a full 60 percent of Americans have favorable views toward the real estate market. That’s up 8 points since last year.

The survey shows that signs of increasing optimism are widespread:

  • With interest rates at historically low levels, 96 percent agree or somewhat agree that now is a good time to buy.

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  • A full 70 percent of respondents have some degree of confidence that property values will improve over the next two years; with an 8 point increase in those very confident or confident compared to last year.
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  • 63 percent believe that real estate is a good investment despite the recent market volatility; that’s up 11 points from last year.

The survey confirms that despite the recession, homeownership remains a central part of the American Dream. Eight in 10 respondents said homeownership is very important to them; only 15 percent said the economic downturn made homeownership less important.

 

Displaying blog entries 1-4 of 4

Contact Information

Apples Team
Berkshire Hathaway HomeServices California Properties
11409 E. Carson Street
Lakewood CA 90715
562-884-1863 / 562-221-2794
562-900-6761
Fax: 562-809-0841

Angie BRE# 01292393, Kathy BRE# 00853237, Cathy BRE# 01255708

 Berkshire Hathaway HomeServices California Properties - A member of the franchise system of BHH Affiliates, LLC