The Renton Wa Realtor Blog !: May 2009

On A Monthly Basis, Home Values Look Better Than Press-Reported Annual Figures

Each month, researchers measure home values in 20 large U.S. cities, then compile their findings in a report called the Case-Shiller Index. It's a popular measurement of housing health across the country, but it's far from perfect.

As 3 examples:

1. It gives more weight to expensive homes than inexpensive ones
2. Its sample set includes just 37 states of 50 states
3. Real estate isn't a "national" market -- it's local (We preach this over and over, that is why you must contact a Renton Realtor for neighborhood info)

All that said, however, the data is still important. The Case-Shiller Index helps identify broader trends in housing and it's widely believed that the economy won't recover until the sector starts to stabilize.

We may be at that recovery point now.

Despite newspaper headlines blaring about 19 percent drops from March 2008, the month-to-month values appear to be stabilizing and the latter is the more important development. 15 of the 20 markets covered by Case-Shiller either improved, stayed flat, or declined by 0.2 percent or less.

Versus 2008, the rate of speed at which home values are falling is slowing.

Furthermore, because the Case-Shiller Index is on a 2-month delay, it doesn't account for all of this year's Spring Buyers, or first-timers taking the $8,000 first-time homebuyer tax credit.

Two months don't make a trend, but if Case-Shiller Index continues to report similar data for April and May, it could be the signal that housing finally bottomed. And a national bottom will have a direct effect on our local market.

My home website is www.RentonHomeFinder.com My twitter handle @RentonHomeFinde My facebook page is Gary McNinch on Facebook My Active Rain website is Gary McNinch Team on ActiveRain Gary McNinch Team Realtor Renton WA Real Estate Keller Williams Realty Renton WA. Call us 206-696-2329, email Gary@GaryMcNinch.com tweet us, text us, or send us a snail mail. We like to hear from our many satisfied clients.

NO YOU CAN NOT USE THE $8000 FIRST TIME BUYER TAX CREDIT FOR YOUR DOWNPAYMENT!

 

Well apparently the left hand doesn't know what the right hand is doing, read on... (sheesh the government did it again) .....

On Tuesday May 12, 2009, I posted about the HUD Secretary making the announcement that the $8000 first time home buyer tax credit could be used as a down payment.

For a little historical perspective, I spent years working in the State Government and know how politics works and usually I don't spout off about a new program until it is for sure in place. HOWEVER, I made an error. Shame on me, I figured if the HUD Secretary made an announcement he would have already checked with his Boss President Obama. I mean they sit in the same cabinet room, and the HUD Secretary along with the Treasury Secretary are supposed to be the policy makers for the President on Housing and Finance. NOT!!!!!

Apparently the Secretary jumped the gun. NO, YOU CAN NOT USE THE $8000 TAX CREDIT AS A DOWN PAYMENT. If I got your hopes up, well my error, and when I make a mistake I take responsibility. That being said, it is a great time to buy a new home. Lots of inventory, great priced properties, lowest interest rates in recent history.

So even though I made the mistake of thinking one of the TOP TEN CABINET government officials had worked out the issues and probably gotten everyone's approval BEFORE he announced the program, IT IS STILL A GREAT TIME TO BUY A RENTON HOME, LET ME SAY THIS AGAIN, IT IS STILL A GREAT TIME TO BUY A RENTON HOME. give me a call, tweet, text or even send an email.

I have several great loan officers that know the programs available to get you in a home now. And remember (unless the government changes this too?!?1!?) you have to close the purchase before December 1, 2009 to get the $8000 rebate. Call the Gary McNinch Team, Renton WA Realtor, to buy a Renton home or townhome, gary@garymcninch.com tweet me @rentonhomefinde or search the mls on my website map www.RentonHomeFinder.com Thanks, I'm done burning up and ranting about the Administration and the smoke is not coming out my ears anymore now.

Short and sweet try this one on for size. Twitter and Google on the same page. Twoozle. www.browsys.com/twoogle

My home website is www.RentonHomeFinder.com

My twitter handle (is that old cb radio talk??) @RentonHomeFinde

My facebook page is Gary McNinch on Facebook

I do all this to connect with people I enjoy, those I haven't seen in years and those I hope to meet. Any my business is to help these people buy and sell homes in Seattle and Renton. Great business to own, great way to help invest in their future, and lots of fun too.

Gary McNinch Team Realtor Renton WA Real Estate Keller Williams Realty Renton WA. Call us 206-696-2329 email easy Gary@GaryMcNinch.com tweet us, text us, or send us a snail mail. We like our clients.

Well here I am going along telling the story about our great office and how we helped a family here.  And I look up and 100 Posts and 40,000 Points on AR.  Good stuff in 3's.

Here is the great RED DAY Post about the giving hearts and muscles of the Renton Keller Williams Realtors.

Life is a gift, unwrap every day.

Today, about 25 of us from the Keller Williams office here in Renton came together to celebrate the First Annual Keller Williams RED Day. Standing for Renew Energize Donate it is the international day of service by the entire Keller Williams Realty Company, which has over 70,000 Realtors in the US and Canade. The Keller Williams motto of God, Family then Business was seen in the service that we completed today.

We chose to help the Steve and Karen Morris family in the Renton Highlands. Steve retired from the military and became a KW Renton agent several years. He was stricken with a MS like disease, which has caused him to have problems with his balance and lack of strength and energy. Steve was unable to continue his real estate business has been unable to work for the past couple of years. Steve and his family (4 kids) have decided to move to a different part of the state where they could be more self sufficient and the cost of housing was much lower.

The Keller Williams Renton office came together to do yard work, help pack household items and transport several loads to a mini storage plus clean and get the home prepared for sale. With over 25 of us enjoying the camaraderie of hard labor away from the office, we visited, helped out and had a great day. Of course being busy Realtors, the cell phones were ringing on and off as we worked. Business continued on, Two short sales were approved, a couple new listings went on the market, one referral from across the state was received, and several closings happened as we worked along side the Morris family in the Highlands. The best part of the day for me was to see the care that was shared with Steve. It was a nice reunion for several folks to catch up with him too.

After a contractor replaces the roof, does some minor interior repair, puts in some new carpet, we will put the home on the market, probably in a couple of weeks. And we're gonna donate the seller side of the commission to the family too.

Yes today lots of folks in our office were RED - Renewed (seeing old friends), Energized (working together), Donate (yes, time, energy, labor and love). Enjoy the photos (Steve is in the chair in front and his kids are standing around him). Steve has had help from his church ( the God part), Family (today we were in RED) and business (yep we are blessed by the give first then receive philosophy). I think is says that in the "Book" and I don't mean the MREA book or the Shift book this time. Tonight I'm tired and really happy too.

KW Cares is our charity, and quietly we donate to a lot of worthy causes. Today we showed that "KW Cares" for a wonderful Renton family. And as our humble friend Steve said, "you guys are so wonderful". Thanks to everybody who helped, lots of hands make for short work and the Renton office proved it again.

A great post from my friend and cohort Rene Fabre, marketing genius from Ticor Title and Escrow.    He is discussing why we must be part of the online community.   This is why I tell my home sellers that it is so important to use a Realtor that is at the front of the tech wave.  Must be all over online to find the buyers.  And Rene sums it up best:

     "When we take our conversation online, participate in online communities and share our story, we create opportunities for relatedness and exchange. If we do it right we attract those that may need our services. Ultimately they will choose (or not) to enter our lives in the physical world. If we serve them well, bring value, and they like what they see... they may just sit down at the table and sign the papers. That's how we get paid. Believe me, I know that."  

The best part of my Renton Real Estate business is meeting people face to face and helping them find just the right new home or helping them sell for the most money with the least hassle.  We bring value and we really enjoy people. And we value our long term relationships with our satisfied friends (clients)

Donovan’s remarks came in an address to several thousand Realtors® gathered this morning at The Real Estate Summit: Advancing the U.S. Economy, a special daylong session at the Realtors® Midyear Legislative Meetings & Trade Expo here.

Secretary Donovan said that important changes, which the National Association of Realtors® has been calling for, will help consumers purchase a home. “We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a downpayment,” Donovan said. According to Donovan, the FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.

      this story is long and good ....  read the rest here

Call us, tweet @RentonHomeFinde    email me at Gary@GaryMcNinch.com  or www.RentonHomeFinder.com 

I just can't say it enough, now is the time.

 

Pending Home Sales Rise In March -- Another Sign That Housing Is Recovering

For the second consecutive month, the number of homes under contract to sell increased -- further evidence that housing markets may have already bottomed.

As reported by NAR, the Pending Home Sales Index rose by 3-plus percent last month.

A "pending" home is one that's under contract but has yet to close. This is one reason why the Pending Home Sales Index is an imperfect statistic.

Just because a home is under contract doesn't mean it will actually sell. A lot can go wrong between the date of agreement and the date of closing. Transactions fall apart due to inspections, poor agents, financing issues and we make sure that doesn't happen to our clients. But, when the number of pending contracts rises, we can infer that buy-side demand for homes is strong.

The number of homes under contract is being influenced by a combination of historically low mortgage rates, relatively inexpensive homes, and various tax credits for certain homebuyers, such as the new tax credit for Washington State home buyers. Overall, it's spurring demand and that's part of what's captured by the Pending Home Sales Index.

So long as the demand for homes outpaces its supply, home prices are expected to rise. We are close to balanced here in the Renton housing market, with a mix of equity resales, preforeclosure homes and bank owned properties available. So pricing to sell is critical and buyers have to realize that now is a great time to buy a home. Call, email or tweet the Gary McNinch Team Renton Realtors and we will help you get the loan process going and find you a great new home.

How to fix the current economic problem...(seriously) This will work. And it's so darn simple... Dear Mr. President:

Please find below my suggestion for fixing America 's economy.

Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan.

You can call it the Patriotic Retirement Plan:

There are about 40 million people over 50 in the work force.

Pay them $1 million apiece severance for early retirement with the following stipulations:

1) They MUST retire. Forty million job openings - Unemployment fixed.

2) They MUST buy a new American CAR. Forty million cars ordered - Auto Industry fixed.

3) They MUST either buy a house or pay off their mortgage - Housing Crisis fixed.

It can't get any easier than that! If more money is needed, have all members of Congress and their constituents pay their taxes...

This plan is courtesy of my friend Lee Duncan from Renton. And like Lee I am over 50 so I REALLY LIKE THIS PLAN! I could retire (again) and buy a new Ford and pay off my Mortgage AND buy a new Renton house. But I would miss helping all my good clients buy and sell Renton houses.

SO, What do you think?