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Blog Archives: January 2013 — December 2013

The Rilliet Report September 2013

September 23, 2013
Sheldon Rilliet
THE BUZZ The market is still positive. The National Association of Realtors projects home sales to increase 10-11% for all of 2013, totaling about 5.1 million sales. The last three month average for pending sales is higher than any time since 2006. That said, for the second consecutive month, home sales are down. This is due to higher mortgage interest rates that are giving pause to consumers, according to Lawrence Yun, NAR Chief Economist. Yun points out that there is an uneven pattern around the country. "The higher mortgage ...

The Rilliet Report August 2013

August 20, 2013
Sheldon Rilliet
THE BUZZ Hi [[autoname]], Existing home prices are being driven up by pent-up demand and favorable affordability conditions. For the seventh straight month, the median price has shown double-digit, year-over-year increases according to the National Association of Realtors®. While we are seeing fewer offers than earlier this year, multiple offers on competitively priced homes are still very common. It is important to note, however, that mortgage rates are rising. According to Freddie Mac, 30-year conventional fixed-rate mortgage rose ...

The Rilliet Report July 2013

July 24, 2013
Sheldon Rilliet
The Buzz The current trend in real estate is for sustainable growth. The issue is pent-up demand with buyer traffic nationwide at 29% above a year ago. The most recent stats released on June 30th from the National Association of Realtors report that existing home sales continue to rise by double-digit rates from a year ago. Lawrence Yun, NAR chief economist, says that the recovery is strengthening. Expect limited housing supplies for the balance of this year. There has been a very slight rise in inventory (3.3%) but strong buyer activity ...

The Rilliet Report 2013

June 18, 2013
Sheldon Rilliet
The real estate market is strong with existing home sales continuing to rise in value. In 41 states, prices were higher last month than at the same time a year ago. Price gains were largest in the West, with Nevada, Arizona, California and Idaho each seeing gains exceeding 15%, according to the Federal Housing Finance Agency (FHFA). Tight inventory and strict mortgage lending standards are still issues. Historically, April tends to be the month with the highest inventory available each year. This April was no different, with more ...

One Cool Thing First Time Buyers

May 21, 2013
Sheldon Rilliet

The Financial Perks of Home Ownership

May 06, 2013
Sheldon Rilliet

The Rilliet Report May 2013

May 01, 2013
Sheldon Rilliet
THE BUZZ The housing market continues to improve, increasing 8% to a seasonally adjusted annual rate of 4.98 million in February. According to Lawrence Yun of the National Association of Realtors, sales of existing homes increased 10.2% in February 2013 from February 2012. Sales of homes valued at over $500,000 are up over 20%. Inventories are up too, increasing 10% from January. Still, inventory is 19% lower than a year ago. Builders need to build 50% more homes to meet housing demands, but they are still facing stringent ...

Spring Cleaning and Helpful Information

May 01, 2013
Sheldon Rilliet
    With spring just around the corner, it's time to get started on some of those household chores that you may have neglected in the winter months. Here are a few simple steps you can take to have your home functioning efficiently and safely this spring. read more...

The Rilliet Report March 2013

March 17, 2013
Sheldon Rilliet
THE BUZZ March 20th marks the first day of spring this year. And this spring is not only the start of the hottest real estate season, but may also very well mark a transition to a "seller’s market" for the first time in quite a few years. According to Lawrence Yun, National Association of Realtors’ chief economist, "Buyer traffic is continuing to pick up, while seller traffic is holding steady. In fact, buyer traffic is 40% above a year ago, so there is plenty of demand but insufficient inventory to improve sales more strongly. We ...

The Rilliet Report February 2013

February 06, 2013
Sheldon Rilliet
THE BUZZ With inventory low during the past few months, we’ve seen a rise in prices in many areas as buyers are eager to get into the market before the spring buying season gets under way. Lawrence Yun, chief economist of the National Association of Realtors, says, “Momentum continues to build in the housing market. With lower rental vacancy rates and rising rents, combined with still historically favorable affordability conditions, more people are buying homes.” In 72% of the top 50 U.S. cities, declining values have made it cheaper ...

The Rilliet Report January 2013

January 15, 2013
Sheldon Rilliet
Looking back on 2012, the real estate market showed significant positive changes. Real estate home listing service, Zillow, reports that housing values rose 6% last year, posting the first gain in six years, and home values increased more than $1.3 trillion to $23.7 trillion. Zillow predicts continued growth in 2013. Compare this to 2008, when homes lost more than $3.2 trillion in value, and you can see why there’s reason to be optimistic about the New Year. Limited inventory has helped push up prices. Inventories in November of 2 ...

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