There up! Could this be the long waited change?  The interest rates dropping have created an incredible jump in the affordability index.  I believe that there is a pent up demand.  We just need to hear good news for the would be buyers to feel good about their decision to buy a home.

It is a long trek for those who bought at the peak.  It will take years before they recover their lost equity.  Home ownership should not be look at as some short term investment.  It is a place for you to live and raise a family.  It is a quality of life issue.  The fact is that they will recover their equity given enough time.

Unemployment hovering at 10% is the real issue with housing.  Our population is still growing.  Additional housing units are not being built at the rated needed to keep up with population growth.  This will create a shortage in the near future.

NAR raised its Housing Affordability Index to 178 in 2010 and 166 in 2012.  An index of 100 means that a family earning the medium income has enough income to qualify for a mortgage loan on a medium priced home.  So, having an index over 100 means that a family has more than enough income to qualify.

Interesting times in Webster, Mass.

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Posted by Webster, Ma Conrad Allen, Realtor on 09/03/2010 07:48 AM   Comments (5)  
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5 Comments on Pending home sales in July

SEP
03
2010
563,969 Points 17 Featured Posts Called Shot Master

I just blogged about August stats in Jacksonville Beach, FL this morning and sales are up almost 30% year to year, prices have dropped on the low end, but were almost double on the high end, and days on market were flat...all good news!
7:50am • #1
147,546 Points 6 Featured Posts Attended Rain Camp Called Shot Master

We just need to the media to pick up on the positive news and publicize that for a change of pace.
7:53am • #2
107,945 Points 3 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

It has been my perception as well.  5 offers in one day today.  Phone was ringing off the hook.  Lets get that to the media.
9:56pm • #3
2 Featured Posts Attended Rain Camp

4 Buyers (3 referrals, 1 call)....in 2 DAYS!!! Now that is what I am talking about!!!!!!!! Thanks for Sharing Conrad, Jen...
10:14pm • #4
SEP
04
2010
649,820 Points 69 Featured Posts Outside Blog Attended Rain Camp

Love to hear the news about buyers and sales.  I had three offers on a 3 family in Webster.  We are doing the home inspection Monday morning.  Stay strong and you will survive.  We have gone from black to gray.  The sky's will open soon.  Those left standing will prosper.
7:20am • #5


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