Saratoga Springs – Info That Hits Us Where We Live
QUOTE OF THE WEEK… “Put a grain of boldness into everything you do.”–Baltasar Gracian (1601–1658), Spanish writer and philosopher
INFO THAT HITS US WHERE WE LIVE… The U.S. real estate market is certainly putting some boldness into its recovery, as indicated by recent reports. February Existing Home Sales shot up 10.2% from a year ago, the fastest sales pace since the homebuyer tax credit boost in November 2009. The median existing home price is UP 11.6% versus a year ago and has now posted year-over-year increases 12 months in a row! And the FHFA index of prices for homes financed with conforming mortgages is UP 6.5% the past year.
Home builders are showing some boldness too, as February Housing Starts came close to a 5-year high, at a 917,000 annual rate, 27.7% higher than a year ago. Building permits were UP 4.6% in February, to a 946,000 yearly pace. But builders aren’t celebrating just yet. The National Association of Home Builders chairman explained, “… (builders’) enthusiasm is being tempered by frustrating bottlenecks in the supply chain for developed lots, along with rising costs for building materials and labor.” Hopefully, these issues will dissipate.
BUSINESS TIP OF THE WEEK… Don’t let your biases get in the way of hearing what others are telling you. Resist the impulse to defend or explain yourself, or offer a quick fix. You come up with better solutions when you don’t pre-judge the other person’s needs.
648 Plank Rd. Suite 203
Clifton Park NY 12065
Orson B.Klender, Associate Broker
Keller Williams Realty Saratoga Springs
38 High Rock Ave, Saratoga Springs, NY 12866
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Cell: 1 (518) 588-2319 ~ Fax: 1(866) 588-6066