Posts tagged ‘real estate market’

August 27, 2013

INFOGRAPHIC – Confidence in the Market Jumps Sharply

Confidence in the real estate market is on the rise, and millennials still believe in the American Dream. However, there is a knowledge gap that calls for advice and guidance from real estate professionals. Consumers have their eyes on interest rates.

Prudential Real Estate Q2 2013 Consumer Outlook Survey Infographic

Prudential Real Estate, an HSF Affiliates LLC company, and Prudential Homesale Services Group released results of their second quarter Consumer Outlook Survey indicating that millennials are increasingly optimistic about residential real estate. A full 80% of respondents ages 25-34 said their perception of the housing market is “favorable” or “somewhat favorable,” representing a 9 percentage point increase from the Q1 study.

Among all respondents, the national survey also found that confidence in real estate and home values jumped sharply, reaching 83% vs. 77% in Q1 study and 73% at year-end. Confidence is highest in both South and West regions at 84%.

“Young Americans, like the majority of survey participants, are feeling much better about homeownership,” said Earl Lee, chief executive officer of HSF Affiliates LLC and president of Prudential Real Estate. “People are looking optimistically at housing for all right reasons – a place to feel secure, build a future and raise a family.”

Among all respondents, 70% said that finding the right home and community is crucial to family happiness. Millennials were even more emphatic about the emotional side of homeownership: 93% favor a home for “more space for my family,” while only 75% view it as “financial security to borrow against.”

“Consumers are mindful of the challenges faced during the real estate downturn,” added Earl Lee, CEO of HSF Affiliates LLC and president of Prudential Real Estate. “Though homeownership makes a solid, long-term investment, a home should never be considered a siding-clad ATM.”

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Mortgage and Rate Watch
On securing a mortgage loan, consumer sentiment continues reflecting the challenges people face through strict underwriting guidelines and credit-score requirements:
•    57% of respondents said securing a mortgage is more difficult than it ever was prior to the market crisis.
•    Nearly 40% said lenders are “overly cautious” when it comes to mortgage financing.
•    Anxiety and fear of losing a real estate opportunity are respondents’ main emotional challenges in seeking home financing.
•    With rates rising recently, 71% said they are encouraged to buy a home now rather than later. It is worth noting that 78% of respondents indicated that homeownership is valuable regardless of shifting rates.

While 65% of respondents said they watch rates closely, there is confusion about recent rate trends. Among those who claim to watch rates closely, 43% believe that rates are holding steady or falling, though rates have risen so far this summer.

The knowledge gap calls for advice and guidance from real estate professionals to help people make the best choices. Of survey respondents, 63% indicated that a good agent can help them make the right choices about the type of home and community they want. And having a trusted source of information and guidance is important to 64%.

“Our survey shows that Americans who are looking to find and purchase a home remain positive about their prospects, and they’re looking to the guidance of quality real estate agents to navigate the entire process,” said Stephen Phillips, chief operating officer for HSF Affiliates LLC. “Home buyers are more informed than ever with their Internet searches and ongoing research; however, there’s a critical need to transform that information into analysis and advice that helps consumers make the best home-buying and selling decisions.”

The full survey details are available upon request. An infographic illustrating survey findings can be seen above.

Prudential Real Estate Outlook Survey Methodology
Interviews with 2,600 Americans who are “in the market” to buy or sell a home were conducted online by Edelman Berland in June-July 2013, Respondents are aged 25-64 with a household income of at least $50,000, and either recently bought/sold a home or are considering buying/selling a home. The margin of error is ± 2.0% for all respondents.

April 15, 2013

Q1 Consumer Outlook Survey (Infographic)

Consumer confidence in real estate and home prices reaches a year-long high. Buyers and sellers are motivated entering the spring buying season.

q1-info-graphic2013

Want more information on today’s real estate market? Contact a Prudential Homesale Real Estate Agent today.

February 25, 2013

The State of Real Estate

Homeownership is important and attitudes are positive, however, with the lingering crisis and trouble qualifying for a mortgage, we now find guidance is more important than ever.

Prudential Real Estate Outlook Survey Infographic-final-large-web

January 3, 2013

Real Estate Resolutions…

new-yearHave you made your New Year’s Resolution? Most folks want to improve themselves and find ways to make their day-to-day personal or work life better. Real estate resolutions are right up there with weight-loss, a dream vacation, to stop smoking, etc. But there is much more to a real estate resolution than deciding to buy or sell a home. If a real estate resolution is on your list, be sure you have considered these “micro-resolutions” as well.

BUYERS:

  • Find a Real Estate Agent Now – Engaging a Realtor early in the process will allow you to get to know each other and determine your goals. REALTORS® will advise you and make valuable recommendations, such as reputable lenders, problem areas during a showing, questions to ask the home inspector, etc.
  • Save Down Payment Money – Today, there are numerous loan options available to homebuyers, with different down payment criteria. Consider meeting with a lender to discuss these options in advance and determine how much you should start putting aside.
  • Pay-Off / Clean-up your Debt – This is a top goal for most folks today, even if not considering a real estate purchase. Again, you should consider meeting with a professional for guidance on this task. They can help you identify your credit issues and come up with a plan to correct them before you are ready to buy. Keep in mind, it could take as much as six months to clean up your credit.
  • Boost your Credit Score – Along those same lines as above, you should pull your own credit report (annualcreditreport.com) to see where you stand versus where you should be. Review for any discrepancies or errors and take care of them as soon as possible.
  • Start Early – Going to open houses is an easy way to see what is on the real estate market. But, you should begin doing your homework even before this step. Familiarize yourself with the current housing market, understand home values, and determine the home prices by neighborhood. Going to open houses is a good second step and a great way to meet your future real estate agent

SELLERS:

  • Find a Real Estate Agent Now – A Realtor doesn’t just show and sell homes, they can be a valuable adviser on issues that arise before settlement. Your agent can help you get your home ready to sell, decide on the best asking price, market your home effectively, and negotiate on your behalf; their knowledge will save you time and money. Ask family, friends, or neighbors, for a good recommendation.
  • Think of your Home as a Product – Buyers will compare your home and your list price to other competing properties. A home that is priced correctly and shows well, will sell the fastest. Your Realtor can help you determine the best listing price for your home, while you work on getting it in the best shape to show! A home that shows well is clean, clutter-free and as up-to-date as possible. Your Realtor can also help you determine which home “projects” will be the most practical and bring you the best return on your investment.
  • Plan your Strategy and Timing – Uprooting from a home is not easy. One of the big stresses can be planning to sell your home at the same time you try to buy another. There are lots of things to consider in this situation; must you sell before you buy? Will you be able to sell at a price that will give you enough return? It’s a lot to think about and plan for; it helps to have a strategy in place well before you take action. A knowledgeable real estate agent in Maryland or Pennsylvania can help you establish your plan.
  • Save Down Payment Money – See above, the same holds true for sellers who will also be purchasing a home
  • Pay-Off / Clean-up your Debt – See above, the same holds true for sellers who will also be purchasing a home

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Give each of your resolutions some thought and proper planning now
to help insure that you stick with them during the upcoming year and see them through to the end.

We wish you much happiness and success in 2013.

November 2, 2011

Overcome Your Fears of Buying A Home

Do you have doubts and concerns about buying a home? 
Listen to the podcast below about Overcoming Fear and
learn how to take advantage of today’s market!

 
Overcoming Fear

 

 

 

 

For more information visit www.PrudentialHomesale.com

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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