Sunday, December 26, 2010

Home Inventory Dwindles Into The New Year

Existing Home Supply (Nov 2009 - Nov 2010)Existing Home Sales jumped another 6 percent in November, the report's third month of improvement since bottoming in July.
According to the National Association of REALTORS®, a quarter-million more existing homes were sold during the annual period ending in November as compared to October.  An "existing home" is a home that cannot be considered new construction.
Additionally, the national housing supply dropped by a full month. At the current pace of existing home sales, the complete stock of homes for sale will be exhausted in 9.5 months.
November's strong housing data is yet another signal to buyers in Palmyra that the housing market's foundation has been rebuilt, and that a rebound is imminent.  It's helped that there are great "deals" on which for buyers to pounce.
In November, short sales and foreclosures accounted for one-third of all existing homes sold, and carried an average price discount of 10 percent and 15 percent, respectively, as compared to non-distressed sales.
Repeat buyers continue to power the market, too, representing more than half of all home buyers.

  • First-time buyers : 32% of all buyers
  • Investors : 19% of all buyers
  • Repeat buyers : 51% of all buyers
This breakdown suggests that housing has regained its footing. First-time buyers can't support a market long-term like repeat buyers can and, as compared to 12 months ago, the percentage of repeat buyers is now up 14 points.
Home buyers take note. Raw sales volume is rising and available inventory is dropping. Basic supply-and-demand tells us that this will lead home prices higher. Furthermore, mortgage rates are rising quickly, increasing the cost of homeownership.
If buying a home is a part of your plan for 2011, consider accelerating your purchase time frame. Existing homes account for more than 80% of homes sold nationwide. If the market keeps improving like this, your home affordability will worsen.
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Friday, December 24, 2010

Happy Holidays with a Song!

Its Holiday Time for everyone - and for the holiday here is a little piece of animation from years gone by to make you smile. May this holiday season bring happiness to you and your family!

Wednesday, December 22, 2010

Toys Come to Life

OK, this is my last toy video for the week , but I needed to post this. I'm not sure if it was a creative commercial, a great example of creative advertising for its time or a scary prehistoric version of "Toy Story"- You decide...

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Monday, December 20, 2010

More Silly Toys

I really enjoy sharing silly videos - and with the holidays upon us, toys are right at the top of my mind - so here's another toy that belies the idea that children had complex toys 50 years ago... My favorite part - the look on the boy's face!

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Sunday, December 19, 2010

Silly Toys or Silly Kids?

Last night I was shopping for toys for toys for the little kids in my family. I saw the traditional board games and toys, and action figures but l;ots of involved toys with electronics and lights and intellectual engagement with small special purpose computers. Then today, browsing on my computer, I came across this old TV commercial from (I guess) the early 60's - and it just makes me wonder what would happen if you showed up on Christmas morning with one of these as a gift.

Consumer Alert: The jingle is really catchy, and I'm not responsible if it gets in your head and stays there :-)

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