The Buyer's Market is over.

Listing Inventory has dropped.
If your looking for your next home and see one you like you might want to go ahead and put an offer on it before you proceed looking at others. The odds are that it will have others making an offer as well. The best ones go first!

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Existing Home Sales and Prices Continue to Rise in February

Existing-Home Sales and Prices Continue to Rise in February
February existing-home sales and prices affirm a healthy recovery is underway in the housing sector, according to the National Association of REALTORS®. Sales have been above year-ago levels for 20 consecutive months, while prices show 12 consecutive months of year-over-year price increases.
February sales were at the highest level since the tax credit period of November 2009.
Lawrence Yun, NAR chief economist, says conditions for continued housing improvement are at play. “Job growth in the improving economy and pent-up demand are causing both home sales and rental leasing to rise. Though home prices are rising much faster than rents, historically low mortgage rates are still making home purchases affordable,” he says. “The only headwinds are limited housing inventory, which varies greatly around the country, and credit conditions that remain too restrictive.”
Listed inventory is 19.2 percent below a year ago when there was a 6.4-month supply.
The national median existing-home price for all housing types was $173,600 in February, up 11.6 percent from February 2012. The last time there were 12 consecutive months of year-over-year price increases was from June 2005 to May 2006. The February gain is the strongest since November 2005 when it was 12.9 percent above a year earlier.
“A strong rise in home values is contributing to housing wealth recovery, which has risen by $1.4 trillion in the past year and looks to top that increase this year,” Yun says. “The extra consumer spending arising from growth in housing wealth is expected to be $70 billion to $110 billion this year.”
Distressed homes–foreclosures and short sales–accounted for 25 percent of February sales, down from 34 percent in February 2012. Fifteen percent of February sales were foreclosures, and 10 percent were short sales. Foreclosures sold for an average discount of 18 percent below market value in February, while short sales were discounted 15 percent.
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 3.53 percent in February from 3.41 percent in January; it was 3.89 percent in February 2012.
NAR President Gary Thomas, broker-owner of Evergreen Realty in Villa Park, Calif., says interest rates remain extraordinarily low. “In the history of mortgage interest rates since 1971, the 30-year fixed rate has been below 4 percent in only 15 months, and those have all been in the past 15 months,” he says. “Even with rising home prices, affordability remains historically favorable because home prices over-corrected during the downturn. This means there is still great value for buyers in the current market.”
All-cash sales were at 32 percent of transactions in February, up from 28 percent in January; they were 33 percent in February 2012. Investors, who account for most cash sales, purchased 22 percent of homes in February, up from 19 percent in January; they were 23 percent in February 2012.
“There was an upward bump in the shares of investor and all-cash closed purchases in February. These sales result from purchase offers during the holidays when shopping activity by traditional home buyers slows, but investors, who typically pay cash, remained active,” Yun says. “This is a seasonal pattern, but we’re now seeing a general increase in buyer traffic, which is 25 percent above a year ago.”
Single-family home sales are 8.7 percent above the 4.01 million-unit pace in February 2012. The median existing single-family home price was $173,800 in February, which is 11.3 percent higher than a year ago.
In the South, existing-home sales increased 2.6 percent to an annual level of 2.01 million in February and are 14.9 percent above February 2012. The median price in the South was $150,500, up 9.3 percent from a year ago.

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Housing Continues to Gain Ground.

The economy seems to be transitioning to a slightly stronger growth path according to Fannie Mae's Economic & Strategic Research Group. Increased taxes and reduced government spending will keep growth at a subdued pace in the first half of the year before activity picks up in the second half. 

The improving performance of the housing market is expected to continue through 2013. Boosted by strengthening home prices, which may incite more potential buyers to enter the market, housing should contribute to GDP on a growing basis and help to counteract the fiscal headwinds. Other primary growth drivers will include consumer spending, manufacturing, and business capital investment. 

Our outlook is bolstered by the employment picture, which is trending better than previously reported, as well as the momentum in manufacturing and energy production. We also expect the housing recovery to broaden this year. However, the degree to which these drivers will serve to offset the headwinds from ongoing and forthcoming fiscal contraction is still to be determined.

Absolute!

Please forward this on if you are in agreement - get those "privileged so-and-so's" to live like the rest of us!!!

And when was the last time your congressman or senator asked you what you thought?

This is non-partisan... and an idea whose time may have come in order to be discussed more openly by more American voters.

"The Constitution is not an instrument for the government to restrain the people; it is an instrument for the people to restrain the government - lest it come to dominate our lives and interests". - Patrick Henry -

The 26th amendment (granting the right to vote for 18 year-olds) took only 3 months & 8 days to be ratified! Why? Simple! The people demanded it. That was in 1971... before computers, before e-mail, before cell phones, etc.

Of all the amendments to the Constitution, seven (7) took 1 year or less to become the law of the land... all because of public pressure.

I'm asking each addressee to forward this email to a minimum of twenty people on their address list; in turn ask each of those to do likewise.

Congressional Reform Act of 2011

1. No Tenure / No Pension. A Congressman collects a salary while in office and receives no pay when they are out of office.

2. Congress (past, present & future) participates in Social Security. All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system, and Congress participates with the American people. It may not be used for any other purpose.

3. Congress can purchase their own retirement plan, just as all Americans do.

4. Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.

5. Congress loses their current health care system and participates in the same health care system as the American people.

6. Congress must equally abide by all laws they impose on the American people.

7. All contracts with past and present Congressmen are void effective 1/1/12. The American people did not make this contract with Congressmen. Congressmen made all these contracts for themselves. Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, so ours should serve their term(s), then go home and back to work.

If each person contacts a minimum of twenty people then it will only take three days for most people (in the U.S.) to receive the message. Maybe it is time.

THIS IS HOW YOU FIX CONGRESS!!!

If you agree with the above, pass it on. If not, just delete.

You are one of my 20+. Please keep it going.

Change begins with you.

.

"Live as though everything is a miracle..."

Thank you,
Bruce Weaver
Realtor, GRI
RE/MAX Classic
Phone:
205-352-4229
Fax:
866-822-3730

Real Estate Advisor: May

----- Forwarded message -----
From: "Bruce Weaver" <a55023@real-estate-mail.net>
Date: Mon, Apr 25, 2011 11:05 am
Subject: Real Estate Advisor: May
To: "b weaver" <pellcity@gmail.com>

Real Estate Advisor: May 2011 Getting Through the Big Move Cut Back - Moving can be a difficult task. Don't make it more work than necessary by moving furniture, clothing, art or other belongings that you don't actually want or need anymore. Look for opportunities to de-clutter your life and get rid of excess possessions. Hand it Down: Tell your friends and family you're paring down possessions. You'll feel better, and it'll be easier giving up that expensive couch or antique bureau if you know your best friend will make good use of it. Yard Sale: The tried and true yard sale can help you can get rid of things you don't use and avoid paying to move them. As a bonus, you'll make some extra cash that you can spend on new things in your next home. Donate: Consider donating unwanted or unsold items to charity. Many charitable causes have free pickup services for donations that make giving your unwanted furniture and items as easy as picking up the phone and scheduling a pickup time. Packing- The thought of organizing and packing up a house's worth of clothing, kitchenware, and other items can be daunting to say the least. Even if you are using professional movers, you likely will want to pack and organize certain items yourself. By having a packing strategy, you can make it through the first stage of the move with your sanity intact and avoid last minute panic as the moving trucks pull up. Inventory: Taking a rough inventory of your stuff will give you a general idea of how many moving boxes you will need. If you will be using a moving company, it's not a bad idea to make a written or photographic inventory to make sure you don't lose anything during the move. Box Right: Make use of suitcases and plastic storage tubs you already own before searching out moving boxes. You can re-use old cardboard moving boxes, but make sure the cardboard is still in good shape rather than risk damaging any of your items. Purchase frame boxes to protect your pictures and mirrors. Other Supplies: Purchase high-quality packing tape and plenty of bubble wrap to help safeguard your belongings during the move. Specialty packing paper or packing fill can be used for box fill instead of newspaper to remove the risk of scratching fragile items. If you will be moving on your own, you should rent furniture pads, straps and furniture dollies from the rental truck company. Have a Packing Plan: Begin by packing the items you use least often. Pack one room at a time, making sure to clearly label the contents and which room they are intended for. You can also use a numbering or color coded system to help indicate which boxes have the most frequently used items. Pack Smart: Large boxes should be filled with lighter items such as clothing. Save heavy items like books and dishes for smaller boxes that for easy lifting. Make sure each box is packed full, but also check the weight of packed boxes before sealing. "Essentials" Box: Pack one box to keep close at hand (i.e., not buried in the back of the moving truck). The idea is to have easy access to items you may need during the move or immediately after your arrival at the new home. ID Your wallet, checkbook and/or ATM card Bottled water Toothbrush, toothpaste and soap Any prescription medications Aspirin Snacks that don't require refrigeration or cooking (granola bars, nuts, bread, PB, etc) Paper cups, paper plates and plastic utensils Towels Sheets Scissors and tape Closing documents if you're buying a new home Important files Medical records Pet food and pet littler, if applicable Before Moving Day - Keep People Updated: Contact or visit your local Post Office to obtain a Change of Address form. You can also obtain this form online at http://www.usps.com. Give a change of address to the following: Banks, schools, friends & family, insurance companies, doctors and specialists, cell phone providers, credit card companies and magazine and newspaper subscriptions. Clean in Waves: Trying to clean your whole house at once (either before or after moving day) can be an overwhelming prospect. Instead, begin cleaning any rooms in your house that have been emptied such as closets, basements or attics. Get Help- One of the most important moving tips: you don't have to do it alone. Move with the Pros: A professional moving company can take the care of all the hard work, leaving you to kick back and supervise. If you feel like avoiding the packing stage as well, most companies will pack your items for an additional fee. Prices and reliability can vary widely between companies, so compare quotes from at least three local companies before choosing a moving company. Don't rely on over-the-phone price quotes from the moving company you select: make sure the moving company comes to your home to accurately assess the space and approximate weight of your shipment. Make sure to check their history with the Better Business Bureau or American Moving & Storage Association. Moving Consultant: If the mere sight of a cardboard box leaves you feeling overwhelmed, consider hiring someone to handle the nitty-gritty of your move. These consultants are the relocation industry's answer to wedding planners and travel agents -- they can arrange for movers, pack your stuff, switch over your utilities, and transfer school and medical records. If you can swing the price tag, or if your company is covering relocation costs, a consultant can make your move relatively stress-free. Portable storage: Companies like PODS, U Haul and 1-800-PACKRAT will deliver a portable storage unit right outside your door. Before making the call, make sure you have enough parking on your property to accommodate the size of the temporary storage unit. Fill the storage space at your own pace. When you're finally ready to move, give the service a call and they will deliver the storage pod to your new home. Portable storage units still force you to do all the work, but they are a low cost solution and can serve as an alternative if there is a gap between the time you need to leave your old home and can access the new property. Rental trucks: Renting a box truck can be a cost-effective alternative to hiring a moving company -- as long as you plan ahead. A 10-foot moving truck will generally hold an apartment's worth of stuff; while a 24-foot truck can accommodate a three-bedroom house. It's best to choose a larger truck; you won't have to cram items into a smaller space, and for cross-town moves you will avoid wasting time on multiple trips. Read the fine print about mileage allowances and fuel surcharges, and make sure you know the rules regarding when and where you can return the truck. Depending on the size of the truck and length of the move, you may consider adding supplemental insurance through the rental company in the event of dings or dents to the truck. Friends and family: Free labor is great, but you'll likely still need to rent a moving truck (unless everyone in your family has a super duty pickup). Make sure you have every possible detail taken care of before your volunteer labor force shows up; the last thing you want is to leave your friends and family waiting while you pack the last boxes or run to go pick up the rental truck. Ask friends and family to help with packing and loading to a reasonable degree, and expect to return the favor when it's their turn to move. And common courtesy calls for you to provide lunch and refreshments for your friendly work crew. After the Truck is Loaded - Once you have everything packed away into the trucks, you'll want to pass through your house and check off a few final items before getting on to your new home. Damage Control: Check for any damages to walls, doors or frames caused by furniture being moved. The last hassle you need is to lose part of your security deposit or have any issues with the homebuyers because your furniture dinged a door frame or left a scratch in the wall. Leave Behinds: Re-check the house for anything you might have accidently forgotten. Look through the attic all closets, the garage, any crawl spaces, the medicine cabinet, and the drawer under your oven. Back To Top Bruce Weaver Phone Number: Direct: 205-965-6761 Business: 205-352-4229 Toll-Free: 877-829-7653 Office: 205-408-1306 Email Address pellcity@gmail.com Web Site www.bweaver.remax-alabama.com Mobile Search bweaver.m.remax-alabama.com Mailing Address RE/MAX Classic 6801 Cahaba Valley Road, Suite 210 Birmingham AL 35242

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