Inside Lending Newsletter From Kristen Zorda, Break New Ground!
QUOTE OF THE WEEK… “If you can find a path with no obstacles, it probably doesn’t lead anywhere.” –Frank A. Clark, American writer
INFO THAT HITS US WHERE WE LIVE… The path forward in the housing market has had obstacles, but they do seem to be showing up less frequently. The latest National Association of Realtors (NAR) survey reported that realtors expect home prices to keep appreciating over the next year, with the median price up 4%. The NAR’s director of regional economics and housing policy said: “A moderate increase in inventory will help to steady prices to a historically stable growth path.” He noted the median price for existing homes was 31.7% lower than for new homes in March, suggesting they’re “a bargain by historical standards.”
Fannie Mae’s May 2014 National Housing Survey came in with the news that consumers are increasingly upbeat about housing. The share of respondents who say it’s a good time to sell grew to 43%, the highest level recorded since the survey began in 2010.The share of those who say it’s a good time to buy dipped slightly but is still at 68%.Evidence of that sentiment came when the Mortgage Bankers Association reported that the seasonally adjusted purchase applications index for the week ending June 6 was up 9% from the week before. People could be noticing rates are near six-month lows.
BUSINESS TIP OF THE WEEK… In challenging times like these, an unconventional approach can make all the difference. Ignore tradition. Break new ground. Go into new areas that frighten your competition.
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