Home Sales Show Growth

Still on the fence? Waiting to see if you can time the bottom? What else keeps you from making the smartest and wisest investment of your lifetime? Make sure you don’t fall asleep at the wheel while you’re waiting for the bottom to appear. Seattle has been ranked as one of the “least-riskiest” cities for Home Buyers according to HomeSmartreports.com. That ‘s GREAT news considering that there are only a handful of cities, if even that, throughout the county that have been immune from price declines. So what has kept the housing prices from falling at the same rate, here in King County, as they have throughout the rest of the country? A strong economy supported by several Fortune 500 companies -despite the current layoffs, one of the most educated populations in the country, the location and the exquisite amenities that Washington has to offer – you can go hiking in the morning, boating in the afternoon and skiing in the evening.

With nearly two decades of continuous growth we are certainly entitled to a small slowdown. We haven’t had home prices fall in King County since 1991, that’s nearly twenty years of continuous growth. The median price for a single-family home is still up more than fifty percent since 2002. Just like stocks and bonds, life itself, or any other investment you are going to have your ups and downs. One thing is for certain stocks haven’t had a continuous run with no declines for twenty years. You have to be willing to take the good with the bad and look at the big picture. Invest with a strategy don’t just hop into it trying to keep up with the Jones’. Real Estate, for most people, until recently has been looked at as a long term investment, something that grows over time. I was always told that life is a marathon not a sprint and that too much of anything is never a good thing.

According to the National Association of Realtors, sales of previously owned homes throughout the US increased 6.5 percent to a 4.74 million unit annual rate in December. Economists expected a 4.40 million unit pace. The inventory of existing homes on the market for sell fell 11.7 percent to 3.68 million units from 4.16 million in November, translating into 9.3 months of supply at December’s sales price. The supply stood at 11.2 months worth in November. Which is exceptional news considering that December is one of, if not, the slowest month for single-family home sales. Chief economists for the NAR, Lawrence Yun said that, “the higher monthly sales gain and falling inventory are steps in the right direction.”

Due to creative financing, speculators, Flippers and GREED we have found ourselves caught in the perfect storm and now we have to hold tight. Realize that there is light is in front of us we just have to keep pressing forward. There is always a silver lining in every dark cloud you just have to find it. For the investor with a vision, a game plan, capital or the right financing, and guts now is the perfect time to add to the Real Estate Portfolio.

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