From RISMEDIA, Thursday, December 27, 2012:
“October [home] prices nationwide, including distressed sales, increased on a year-over-year basis by 6.3 percent in October 2012, the biggest increase since June 2006 and the eighth consecutive increase in home prices nationally on a year-over-year basis, according to the latest data from CoreLogic.”
Including distressed sales, in October 2012, home prices declined .2% over September 2012. “The CoreLogic Pending HPI indicates that November 2012 home prices, including distressed sales, are expected to rise by 7.1 percent on a year-over-year basis from November 2011.”
Read the whole story here.
“A penny saved is a penny earned.” This old adage is still relevant today. This article will help you save your pennies and dollars.
Many items – car tires and underwear come to mind – should always be bought new. But many of the items we use every day can and should be bought used, keeping money in your pocket while providing you with excellent service.
Yahoo! consumer affairs consultant Matt Brownell offers a list of 10 things you should consider buying used:
Video games – avid game players sometimes tire of video games quickly, making used games widely available for half or less of their list price. Weeks after a new game is issued, check Craigslist or GameStop for a cheap used version.
Cars – yes, buying a used car could mean you end up with a lemon. But new cars depreciate by thousands the minute they are driven off the lot. Have the car you want inspected by your own trusted mechanic before you buy.
Books – especially textbooks, but all books, really, become bargains when bought used. Visit used book sites online or browse in a used bookstore to find your favorites. Bonus: Used books can be cheaper than ebooks and recycling is good!
Baby furniture – Kids outgrow cribs, bassinets and changing tables long before they wear out, and you can find great bargains on like-new baby goods on Craigslist. Spring for a new mattress, but otherwise just a good cleaning and you are good to go.
Other furniture – Used bookshelves, coffee tables or any other furniture you can clean is almost always worth buying used.
Musical instruments – Save a bundle over buying new, and most musicians will say, ‘the older the better.’
Weights and other gym equipment – watch out for rust, but otherwise buy used and reap the resale value if you ever sell.
Cell phones – Refurbished cell phones and smartphones have been sent back to the factory, repaired and repackaged. They will even have warranty protection. You won’t have the latest model, but you will save big bucks.
Clothing – You may be surprised at what you can find in thrift stores – including outgrown and never-worn clothing at bargain basement prices – or less.
Kitchen goods – You can stock your kitchen with dishes, glasses, pots and pans and everything else you need at a thrift shop or by visiting Craigslist. Plug in electronics to be sure they work before buying.
From RISMedia © Copyright 2012
Florida Realtors(r) Media Release: Florida’s Housing Market Continues Upswing in November 2012
Map of Florida
ORLANDO, Fla., Dec. 20, 2012 – Closed sales, pending sales, median prices and average prices rose in Florida’s housing market in November, while the inventory of homes and condos for sale shrunk, according to the latest housing data released by Florida Realtors®.
“The sizzle is back,” said 2012 Florida Realtors President Summer Greene, describing the state of Florida’s real estate market. “With home sales strongly trending up and the supply of homes for sale drying up, the market is hot. And we expect these trends to continue into 2013 with the jobs market improving, low mortgage rates continuing and consumer confidence getting stronger.”
Statewide closed sales of existing single-family homes totaled 17,072 in November, up 24.4 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing. Closed sales typically occur 30 to 90 days after sales contracts are written.
Meanwhile, pending sales – contracts that are signed but not yet completed or closed – for existing single-family homes last month rose 45.8 percent over the previous November. The statewide median sales price for single-family existing homes in November was $150,000, up 11.2 percent from a year ago.
According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in October 2012 was $178,700, up 10.9 percent from the previous year. In California, the statewide median sales price for single-family existing homes in October was $341,370; in Massachusetts, it was $287,000; in Maryland, it was $239,802; and in New York, it was $209,000.
The median is the midpoint; half the homes sold for more, half for less. Housing industry analysts note that sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes.
Looking at Florida’s year-to-year comparison for sales of townhome-condos, a total of 8,079 units sold statewide last month, up 18.3 percent compared to November 2011. Meanwhile, pending sales for townhome-condos in November increased 30 percent compared to the year-ago figure. The statewide median for townhome-condo properties was $112,000, up 23.1 percent over the previous year. NAR reported that the national median existing condo price in October 2012 was $177,500.
The inventory for single-family homes stood at a 5.1-months’ supply in November; inventory for townhome-condo properties was at a 5.3 months’ supply, according to Florida Realtors. Industry analysts note that a 5.5-months’ supply symbolically represents a market balanced between buyers and sellers.
“Particularly striking in this market is the degree to which prices have risen,” said Florida Realtors Chief Economist Dr. John Tuccillo. “This might be expected to be the case for median prices as investors absorb the inventory at the lower end of the market, but average prices are up dramatically as well – and that suggests we’re seeing real appreciation occur in the marketplace, another sign of how solid Florida’s real estate recovery has become.”
The interest rate for a 30-year fixed-rate mortgage averaged 3.35 percent in November 2012, down from the 3.99 percent averaged during the same month a year earlier, according to Freddie Mac.
To see the full statewide housing activity report, go to Florida Realtors Media Center at http://media.floridarealtors.org/ and look under Latest Releases, or download the November 2012 data report PDF under Market Data at: http://media.floridarealtors.org/market-data
Editor’s Note: Florida Realtors 2012 housing market data releases result from a statewide data reporting partnership between Florida Realtors Industry Data and Analysis department and new vendor partner 10K Research and Marketing. Housing sales data from the state’s local Realtor organizations is collected and organized with the goal of providing unique, localized market reports to the local Realtor boards and associations within Florida Realtors, enabling the groups and their Realtor members to serve as the definitive voice of real estate in their respective local markets. At the same time, Florida Realtors is providing comprehensive statewide housing market statistics – but this new data series only refers to statewide data and does not include metropolitan statistical areas (MSAs).
In an article by Pete Bakel for RISMedia, the writer says “Despite continued uncertainty surrounding the fiscal cliff, Americans are showing increased confidence in the housing market and the direction of the economy.” Fannie Mae believes this increased confidence in the housing market will bring about continued strength in the housing sector, and overall economic growth as a result.
Read Pete Bakel’s article for more results from Fannie Mae’s November 2012 National Housing Survey.
Naples, FL (December 14, 2012) – NABOR Market Report
Marco Island canal-front home
Inventory levels continue to decline while the overall median closed price rose 14 percent, and the overall closed sales increased 6 percent for the 12-months ending November 2012, according to a report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island).
Brenda Fioretti, Managing Broker at Prudential Florida Realty stated, “For property owners who wanted to sell but did not think the market was conducive to that outcome, the current trends and tight real estate inventory allow for the possibility that scenarios may have changed in their favor either through increased equity, improving Florida economic conditions, property values trending up, or historically low interest rates.”
The NABOR® November report provides annual comparisons of single-family home and condominium sales (via the SunshineMLS), price ranges, and geographic segmentation and includes an Overall Market summary. The NABOR® November sales statistics are presented in chart format, with these overall (single-family and condominium units) specifics:
– The overall median closed price increased 14 percent from $175,000 at the end of November 2011 to $200,000 for the 12-month period ending November 2012.
– Overall pending sales increased 6 percent from 10,057 units to 10,667 units for the 12-month period ending November 2012. Overall pending sales increased 20 percent in the $500,000 to $1 million category, from 960 units to 1,153 units, and increased 11 percent in the $1 million to $2 million category, from 429 units to 478 units, for the 12-month period ending November 2012.
– Pending sales increased 100 percent in the $2 million plus category from 16 units in November 2011 to 32 units in November 2012.
– Overall inventory decreased by 15 percent, from 7,625 listed properties in November 2011 to 6,518 in November 2012. Pending sales with contingent contracts are included in the overall inventory number.
– The average DOM (Days on the Market) increased overall from 168 days in November 2011 to 181 days in November 2012.
– Overall pending sales in the Naples coastal area increased 14 percent from 1,801 units to 2,045 units, and closed sales increased 10 percent, from 1,640 units to 1,804 units, for the 12-month period ending November 2012.
