With the housing market bottoming in 2012, economists and other experts are becoming increasingly optimistic about the U.S. housing market in 2013.
From John Burns Real Estate Consulting: “Assuming our leaders in DC come to some sort of agreement that keeps the economy growing and interest rates low, which seems like the most reasonable assumption, here is what will happen,”
- Investors: Investors and, yes, even flippers will continue to grow in numbers as they realize housing is the best risk-adjusted return on their money.
- Boomerang buyers: Foreclosed homeowners, who are currently renting homes, will come back in droves. In Phoenix, they are paying $1,300 in rent for a home whose mortgage payment would be $1,000. That situation is not sustainable. The Federal Housing Administration and Department of Veterans Affairs have low down payment programs with insurance premiums that push rates near 5.0%. Those payments are still very affordable.
- Entry-level buyers: First-time homeowners, who have been sitting on the sidelines waiting for a sign of the bottom, will hear about price increases in their desired neighborhood and rush to become homeowners.
- Move-down buyers: Empty nesters and retirees, who have plenty of equity in their existing home, will buy a home that is more suitable to their current lifestyle, which may or may not include adult children as well as their aging parents.
- Moveup buyers: The price appreciation that occurred in the last year has already lifted 1 million underwater homeowners above water with future price appreciation to lift them even more.
All good signs.
Read more: http://www.businessinsider.com/john-burns-2013-housing-market-outlook-2012-12#ixzz2GpNRVWEJ
From CNN Money
The long-battered housing market is finally starting to get back on its feet. But some experts believe it could soon become another housing boom.
Signs of recovery have been evident in the recent pick ups in home prices, home sales and construction. Foreclosures are also down and the Federal Reserve has acted to push mortgage rates near record lows.
But while many economists believe this emerging housing recovery will produce only slow and modest improvement in home prices, construction and jobs, others believe the rebound will be much stronger.
Barclays Capital put out a report recently forecasting that home prices, which fell by more than a third after the housing bubble burst in 2007, could be back to peak levels as soon as 2015.
“In our view, the housing market had undergone a dramatic over-correction during the prior five years, resulting in pent-up demand for housing purchases that would spark a rapid rise in housing starts,” said Stephen Kim, an analyst with Barclays, in a note to clients.
In addition to what Kim sees as a big rebound in building, he’s bullish on home prices, expecting rises of 5% to 7.5% a year.
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Reinhart South helped “Stuff the Bus” for Toys for Tots. We collected nearly 100 toys per hour!! Thank you to Jaimie Parker and Sarah Kovalak for organizing this amazing event!
The Charles Reinhart Company is proud to participate in gathering food for Washtenaw County’s Food Gatherers! A total of 980 pounds of food was donated!
By now you’ve probably noticed that Pinterest has introduced business accounts. Not much is new, but now there’s an easier transition if you’re a business versus an individual person. It doesn’t look as if there are any added SEO or analytics at this point, but in my opinion, it’s definitely a step in the right direction for this popular social media platform.
In terms of business, imagine the more businesses that join Pinterest and how large this community will grow and be willing and able to share your content. This will be a huge source of reach and growth for businesses alike. Think of it as a vision board for potential clients, not just yourself.
There are new terms of service too so make sure to check those out if you’re thinking of starting a business page or converting from a personal account.
Pinterest also gives a handy list of best practices to consider when you convert to your business page:
- Verifying your website
- Creating inspiring boards
- Sharing your business values (what you care about)
- Highlighting specials
- Celebrating seasons and holidays
- Adding a personal touch
- Take the time to write a good description
- Link to useful webpages
- Collaborate with other pinners (perhaps someone in your community or on your team)
- Ask questions
- Promote your pins on other social media sites
- Add the Pinterest follow and share button
- Create Pinterest tabs on other social media sites
Like any personal Pinterest account, businesses have access to the newly released secret boards. The possibilities are endless – get creative with it. Don’t forget to check out the Goodies section too. The Board Widget looks like an awesome feature you can put up on your website.
As for Inman News and Inman Next, we’ve converted to the business format so check us out, follow the boards you’re interested in and share with your fellow Pinners. We’re always pinning new content, our webinars and special eye-candy for Real Estate Connect in New York City. Join us, won’t you?
Saturday, December 1st – 10am to 5pm
Reinhart South will have an empty AATA bus at the Toys R Us parking lot at Arborland. Our goal is to fill the bus with new, unwrapped toys. All of the toys donated will go to local children in need in Washtenaw County. In association with Toys for Tots!