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Blog Archives

The Rilliet Report - April 2017

April 19, 2017
Sheldon Rilliet
The Rilliet Report - SheldonRilliet.com THE BUZZ   Good news is here. The stock market continues to rise, consumer confidence is up, and hiring is spurring significant interest in buying. Pending home sales posted a strong rebound per March stats. February sales roared to the highest level in nearly a year and the second highest level in more than a decade according to the National Association of Realtors. Lawrence Yun, chief economist for NAR, reports, "Buyers came back in force. The expectation from many ...

The Rilliet Report June 2016

June 15, 2016
Sheldon Rilliet
THE BUZZ Hi Home prices are continuing to rise. According to Lawrence Yun, chief economist for the National Association of Realtors, contract signings hit a 10 year high in April. The first quarter of 2016 makes the best first quarter of existing-sales since 2007. Mortgage rates, which have remained below 4% in 16 of the past 17 months, help home sales. Yun reports that inflation remains at only about 1 percent which also keeps rates down. Yet rent growth and rising gas prices could edge up inflation and push rates higher. Yun ...

The Rilliet Report May 2016

May 27, 2016
Sheldon Rilliet
THE BUZZ Hi! May 2016 looks positive for property owners. Pending home sales rose in February to their highest level in seven months, according to the National Association of Realtors. Lawrence Yun, Chief Economist for the NAR, states, "the latest data is encouraging in that a decent number of buyers signed contracts lured by lower mortgage rates and a modest uptick in inventory. Looking ahead, the key for sustained momentum is a continuous stream of listings quickly replacing what is being scooped up by a growing pool of b ...

The Rilliet Report March 2016

April 12, 2016
Sheldon Rilliet
apr.com The Rilliet Report THE BUZZ Spring is here and the prime reason for buying or selling your home is upon us. Pending sales continue to rise and buyers are serious. Is it time for a change? According to Lawrence Yun, NAR chief economist, "After some volatility this winter, the latest data is encouraging in that buyers are attracted by mortgage rates dipping to their lowest levels in nearly a year. Looking ahead, the key for sustained momentum is a continuous stream of new listings quickly replacing what's being ...

The Rilliet Report February 2016

February 25, 2016
Sheldon Rilliet
The final stats are in for 2015. December's robust market was the largest monthly increase ever recorded with total existing home sales up 14.7% from the month of November. This brought total sales for 2015 up to 7.7% above the previous year. Lawrence Yun, the National Association of Realtors's chief economist, attributes the activity to a strong year in general and also to buyer's concerns that mortgage rates will increase in 2016. Yun also reports that "in addition to insufficient supply levels of inventory moving forward, sales will be ...

The Rilliet Report January 2016

January 13, 2016
Sheldon Rilliet
Happy New Year, Real estate for 2016 is expected to be a positive force for the overall economy. In 2015, the nationwide value of all homes grew by $1.1 trillion. The 2016 estimated total nationwide is $28.5 trillion. The value of the entire housing stock nationwide grew 4.1%. However, housing value nationwide isn't distributed equally. California is home too about 12% of the U.S. population but accounts for nearly 25% of the total home value. California's market is driven by the high value metropolitan areas of San Francisco and Los ...

The Rilliet Report November

November 06, 2015
Sheldon Rilliet
THE BUZZ This fall, real estate generally adjusted to a less frenetic seller's market. Maybe after the rush of multiple offers in many areas, buyers are fatigued and need a break. There are still instances where a listing gets multiple offers, but other listings are receiving one solid offer at or close to asking price. Pending home sales lost ground in September, reaching the lowest level of the year. Lawrence Yun, the National Association of Realtors chief economist, attributes the slowdown to the lower inventory ...

The Rilliet Report September 2015

September 21, 2015
Sheldon Rilliet
THE BUZZ Hi , Summer is in full swing and our real estate market is feeling the heat. Nationally, properties are selling faster than ever. According to the National Association of Realtors, 47% of homes sold in less than a month in June and the trend continues. In hot housing markets, some homes were falling under contract in 11 days or less. Silicon Valley's real estate market is leading in quick sales. Denver homes have gone into escrow within six days, Seattle's median is nine days, Portland is 10 days, and Boston is 11 ...

The Rilliet Report - July 2015

July 02, 2015
Sheldon Rilliet
THE BUZZ Hi [[autoname]], Summer is here and real estate is on the rise. According to the National Association of Realtors, the Pending Home Sales Index is at its highest level in over nine years, since April of 2006. Will this demand continue through the summer? According to First American Title's Chief Economist, Mark Fleming, the market continues to underperform in terms of market capacity. He cites affordability and economic uncertainty as the reasons for reduced demand: "True market values are beginning to meet or exceed the ...

The Rilliet Report - June 2015

June 10, 2015
Sheldon Rilliet
The first three months of 2015 began a new trend. The activity of buyer foot traffic was stronger than expected. Usually, spring is the buying season, but times may be changing. Pending home sales rose in April for the fourth straight month and reached their highest level in nine years, according to the National Association of Realtors (NAR). Then April marked a decline in existing-home sales nationwide. Lawrence Yun, NAR Chief Economist, expects a rebound in sales into the summer months. Such gains will depend on a boost in inventory, ...

The Rilliet Report April 2015

April 14, 2015
Sheldon Rilliet
THE BUZZ We are heading into the spring buying season. With the wind of February and March at our backs and pushing the market upwards, I am expecting strong sales in the months ahead. Pending sales are at the highest level since June of 2013 in the West and Midwest. The Northeast and South have experienced small declines. Lawrence Yun, the Chief Economist for the National Association of Realtors, says, "Pending sales are showing solid gains. A steadily improving labor market, mortgage rates hovering around 4% and the likelihood of ...

The Rilliet Report Jan 2015

January 06, 2015
Sheldon Rilliet
January is a time to look back and look forward. As I reflect on real estate in 2014, I can say that it was a good year. Home prices remained steady with a 2.1% increase nationwide. Demand outpaced supply in most neighborhoods. Still, home sales were down about 3% from the year before. So let's look forward. Could 2015 be a great year? Lawrence Yun, Chief Economist for the National Association of Realtors, predicts that 2015 will be positive due to many factors: the economy is growing, interest rates remain low, consumer confidence ...

Proof that NOW is a Good Time to Sell

November 24, 2014
Most homeowners believe that the winter is not a good time to sell. This belief is based on the fact that historically the number of buyers decreases in the winter and then increases dramatically during the spring buying market. Though this is still true, there is an interesting pattern developing over the last few months. The number of prospective purchasers actively looking at a home (foot traffic) has remained strong going into the fall. As a matter of fact, the foot traffic far exceeds the numbers reported for the same months ...

Freddy Mac Rates

March 25, 2014
Sheldon Rilliet

The Rilliet Report March 2014

March 14, 2014
Sheldon Rilliet
THE BUZZ The spring buying season has begun. A variety of signs point to the underlying strength that should support real estate sales gains in the upcoming months of March through June. Lawrence Yun, Chief Economist of the National Association of Realtors, notes that although the severe winter conditions in much of the country held sales down in December and some of January, "job growth and pent-up demand are positive factors." A surprisingly strong pace of new-home sales last month has boosted hopes. Sales of new homes rebounded ...

Exquisite Living Winter 2014

February 13, 2014
Sheldon Rilliet

The Top 10 Overlooked Questions when Buying a Home

February 13, 2014
Sheldon Rilliet

The Rilliet Report February 2014

February 13, 2014
Sheldon Rilliet
THE BUZZ Reflection is important in real estate. The years of 2008-2012 marked a downswing and a time of indecision. Buyers were scarce and prices fell. The economy offered no confidence. Mortgage restrictions negatively affected sales. It was a buyer's market. Then an upswing began in 2012. By spring of 2013, we were in a seller's market. Multiple offers were commonplace. Inventory flew off the market. All-cash buyers had the advantage. By the last quarter of 2013, we moved from a seller's market to a balance market, with ...

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