Homeownership – the road to wealth

As a broker, my job is to list and sell homes, so of course, I'm going to tell you that you should invest in real estate if you want to build long term and lasting wealth.  

We all know that the housing market took a big hit in late 2008-2009 and the recovery has been slow.  Although things are looking better with rising prices and a lack of inventory, causing cases of multiple offers, values have not skyrocketed like they did in the period between 2005-and mid 2008.

Some pundits have insisted that perhaps housing is not the best investment vehicle for long term wealth acquisition.  A recent KCM blog offers a little insight on this question.  Please click here to read the article. 

All in all, it appears that home ownership is still the single smartest and safest way to build long term wealth.

When you're looking to buy or sell a property, please give me a call.  I always contribute a portion of my commissions to the Wenatchee Valley Humane Society.  With your help we can put some deserving dogs and cats into new homes too!

Jerry

Posted on October 14, 2013 at 11:49 am
Jerry Paine | Category: Real Estate Happenings, Wenatchee Properties Blog, Wenatchee Real Estate | Tagged , , , , ,

2013. A good year to sell? Part 3

People often ask me if now is a good time to sell.  The answer is really dependant on personal circumstances, but for the most part right now is the best time to sell that I've seen in the past 5 years.  

In the previous two post, I covered the aspects of the shrinking existing inventory and pent up buyer demand is actually spilling over and creating a lack of existing homes on the market.  

Today we'll talk a little about a recent KCM blog that outlined why new construction homes will be your new competition.  Please see the article here.

Here are a few points from the recent article:

 

BUILDING PERMITS

  • Single-family authorizations in February were at a rate of 600,000.
  • This is 25.5% above February 2012.

HOUSING UNDER CONSTRUCTION

  • Single-family housing starts in February were at a rate of 618,000.
  • This is 18.5% above February 2012.

HOUSING COMPLETIONS

  • Single-family housing completions in February were at a rate of 574,000.
  • This is 32.9% above February 2012.

As we mentioned, new construction can be strong competition to a seller of an existing home. It may make sense to list your home before this new inventory makes its way to market.  Give me a call to see if selling now makes sense for you.  Thank you, Jerry

Posted on April 26, 2013 at 11:01 am
Jerry Paine | Category: Wenatchee Properties Blog | Tagged , , , , , ,

April 2013 Real Estate Snap Shot Report

Last week I was interviewed by KPQ radio for the business beat talking about the health of the real estate industry in the Wenatchee Valley.  Pacific Appraisal Associates prepares and publishes a monthly snap shot report showing how the market is compared to the same month in the previous year.  

This report shows a vast improvement in the local housing market.  See the most recent Snap Shot Report here.

The number of homes sold and the actual dollar volume has increased significantly when compared to April 2012.  It also shows that the number of new listings is decreasing and that will eventually lead to a slow down of sales.  

In another post, I've been talking about the lack of inventory nationwide and how 2013 will be a great year to try to sell your home.  Low interest rates and low inventory equate to the best seller's market that we've seen for several years.  Don't miss your chance if you're thinking about selling – now is a great time.

When you're ready to sell your property give me a call and lets talk about how my experience and marketing plan can help you achieve your real estate goals.

Jerry Paine 

Posted on April 22, 2013 at 11:04 am
Jerry Paine | Category: Real Estate Happenings, Wenatchee Properties Blog | Tagged , , , , , , ,

2013. A good year to sell? Part 1

More and more, I'm seeing articles from a variety of news and real estate sites that say this year will be a good year to sell your home.  In most parts of the county, inventory levels are shrinking and demand is increasing.  This is leading to some speculation that a new construction boom is right around the corner.  

A recent 3 part article from the KCM Blog deals with the perceived demand, shortage of inventory and the inevitable building boom that will take place.  Read part one here.

 

When selling anything, owners can only hope there is a strong demand for that which they are selling. The great news for today’s home sellers is that the current housing market is experiencing a stronger demand than we have seen in some time. The  spring housing market of 2013 is projected to be one of the best in years.

If you've been thinking about selling, there may not be a better time to do it.  Inventory levels are low and selling now puts you in the best position to capture the buyer before they have new construction choices to consider.

Give me a call to discuss the best way to market your home and help you achieve your real estate goals.

Jerry Paine

Wenatchee Properties.

Posted on April 13, 2013 at 3:00 pm
Jerry Paine | Category: Wenatchee Properties Blog | Tagged , , , ,

Pending Sales Slip Due To Low Inventory

It's an exciting time in real estate! According to the National Association of Realtors, sales in February were up the second highest they've been in the last three years. But the problem is finding inventory. As the economy recovers, buyers are snapping up inventory and according to NAR chief economist Lawrence Yun, that limited inventory is holding back the market in many areas.

According to Yun, the sure fire way to alleviate this shortage is to build new homes. 

"Only new home construction can genuinely help relieve the inventory shortage, and housing starts need to rise at least 50 percent from current levels," he said. "Most local home builders are small businesses and simply don't have access to capital on Wall Street. Clearer regulatory rules, applied to construction loans for smaller community banks and credit unions, could bring many small-sized builders back into the market."

That could bode very well for our local market indeed. 

Check out the full article on the NAR website here and watch this video commentary from Mr. Yun about supply constraints slowing pending sales in the Western market. 

 

Posted on April 11, 2013 at 12:43 pm
Jerry Paine | Category: Real Estate Happenings, Wenatchee Properties Blog | Tagged , , ,