Posts tagged ‘real estate industry’

January 23, 2012

Is now a good time to buy a home?

According to a report by JP Morgan thoroughly explained by KeepingCurrentMatters.com, now is the time to buy a home!

Price-to -Income Ratio
A measure of housing values is the ratio of income to home prices. “Since 1966, the median price of an existing single family home in the U.S. has varied between 150% and 251% of personal income per household. However, roughly three quarters of the time it has been in a relatively narrow band between 185% and 230%.”  Currently the ratio is only 153%.

Curent Mortgage Interest Rates
With current 30 year mortgage rates, housing prices are at historic lows as compared to income due to such low interest rates.  At a 4% interest rate:

“Assuming the use of a fixed rate mortgage with 20% down, this would make the median mortgage payment on a single family existing home just 6.9% of per household personal income, compared with an average of 14.4% since 1966.”

Monthly Rent vs . Monthly Mortgage Payment
A common question among renters, “Is it more expensive to own or rent a home?” 

“…we estimate that the implied median mortgage payment has fallen to just 78% of the median asking rent…”

Now Is The Time To Buy!
“The numbers on housing have an important message for American families today, and particularly younger families setting out on life’s great adventure: Five years ago, at the peak of the home-buying euphoria, it was emphatically a time to rent. Today, when home ownership is depreciated more than ever before, the numbers tell us it is a time to buy.”

 

September 28, 2011

A Nation’s Strong Belief in Homeownership

Brought to us by Keeping Current Matters:

September 14, 2011

One More Reason to Consider Prudential Homesale


Partnering with Platinum Group Services has provided us with the expertise necessary to guide you through a smooth and stress-free real estate transaction.

August 17, 2011

Ranked 8th Nationwide

August 9, 2011
NEWS RELEASE
 

CONTACT INFORMATION:
Doug Rebert, Managing Director
717-333-6123

PRUDENTIAL HOMESALE SERVICES GROUP
RANKED EIGHTH NATIONWIDE

Prudential Homesale Services Group was ranked as the eighth most successful Prudential broker in North America, based on the Company’s 2010 gross revenues.  

In addition, Prudential Homesale’s Manheim Township office was designated as the third most successful Prudential office in the northeast region of the United States.  Prudential Homesale’s Manheim Township office is located at 150 North Pointe Boulevard, Lancaster.

The Prudential Real Estate Network has over 1,600 franchise offices and more than 54,100 sales professionals nationwide. 

Locally, Prudential Homesale has seven locations in Lancaster County and 23 locations overall.

For more information about Prudential Homesale, please contact Doug Rebert at 717-333-6123, or go to www.prudentialhomesale.com.  

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About Prudential Homesale:  Prudential Homesale offers consumers a menu of services including realty, mortgage, settlement, insurance, warranty, relocation, builder/developer services, career services, and a complete customer care center. Information about the company can be found at http://www.PrudentialHomesale.com. Prudential Homesale is the # 1 homeseller in south central and southeastern Pennsylvania. The only regional real estate company with headquarters in the area, Prudential Homesale’s 23 offices service 11 contiguous south central and southeastern Pennsylvania counties. 

“We help people achieve their dreams” is the core purpose of its associates as they strive each day to help others achieve the American dream of homeownership. Contact Doug Rebert at 717-333-6123 or visit http://www.PrudentialHomesale.com for more information.

 

July 29, 2011

Normal Home Prices Are Stabilizing

 

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RISMEDIA, July 29, 2011—Prices of “normal” homes—those that aren’t foreclosures or short sales—are stabilizing and the numbers of future foreclosures are falling. That “sliver of good news for consumer spending” was included in CoreLogic’s July report on housing and market trends. 

In May 2011, the firm’s Home Price Index excluding distressed sales only dropped 0.4 percent from a year ago, compared to a decline of 7.4 percent for the all transactions measured by the HPI. Even while including distressed sales, the HPI increased between March and April —the first time in more than six months—and was up again between April and May.

“These increases represent the resumption of seasonality in home prices and are a positive sign for the market. When disaggregating median prices by type of sale for the first complete month of the spring home buying season, it is clear that despite the whipsaw impact of the federal homebuyer tax credit, state homebuyer tax credits and increases in FHA premiums, non-distressed median existing and new prices are back to 2009 levels,” the report said. 

Although the distressed sales share remains high, the geographical sources of distress are shifting and becoming more dispersed. As of December 2008, four of the top five largest distressed sales markets were all located in California, and the top five markets averaged a distressed sale share of 68 percent. As of April 2011, only two of the top five markets are in California and, more importantly, the top five average distressed share was 56 percent — a 12 percentage point decline relative to top markets in late 2008

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