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Real Estate Market Update
- 1. The “Real State” of Real Estate Presented by: YOUR NAME HERE
- 2. The Value of Home Ownership
- 4. Facts about Home Ownership Over the past 42 years, home values have risen an average of 5.5 percent annually
- 14. Home Mortgage Options Ask a REALTOR ® for Help
- 16. Opportunities Extensive inventories mean more choices for buyers
- 20. QUESTIONS? Call or email us at: YOUR INFO HERE Get Help from a REALTOR ®
- 21. The “Real State” of Real Estate Work with a REALTOR® to navigate today’s market Brought to you by YOUR NAME HERE
Notas del editor
- In early September, Time Magazine’s cover story was the most high profile coverage yet of the housing industry, going so far as to question the value of homeownership. While other commentators in the media (like the Washington Post and Forbes.com) had posted similar stories, this was the most prevalent and far-reaching. In synopsis, the Time story took aim at the financial benefits of homeownership-deflating their value in the light of the recent downturn in the market, foreclosures, etc. It also critiqued the social benefits of homeownership – saying these were overblown and on par with statistics of car ownership. The following presentation will address each of these areas with facts, including a local picture of the market in Chester County and specifically Tredyffrin and Easttown.
- There is no doubt that while impacted by the recent downturn in the market, homeownership remains an excellent long-term investment. READ OFF STATISTICS. NOTE-this is the 2007 survey results – the latest available from this triennial survey, the 2010 survey results will be available in early 2012. As these statistics demonstrate, owning a home is one of the best ways to build long-term wealth, providing both equity and tax benefits over time. It is important to note that not everyone is in a financial position to own a home, that is why we only promote responsible and sustainable homeownership.
- While housing can be cyclical in a short time frame, when looking at the bigger picture, there is true value in owning a home. Nationally, home values have risen an average of 5.5% annually over the past 41 years. So while prices may not be as good as they were in 2008, they’re still stronger than they were in 2004 and before. Plus given the leverage in purchasing a home, the average return on a 5% down payment over 10 years is usually 3 to 5 times greater than stock market returns.
- Beyond the financial benefit, there is a strong social benefit to owning a home and it being the aspiration of many. Put simply, homeownership strengthens communities. How? They are more stable – Give Statistic They are more engaged – Give Statistic They are more involved – homeowners are 26% more likely to work with others to solve a community problem. Areas with high homeownership rates also correlate to areas with less crime and children more likely to achieve a higher level of education.
- Beyond the financial benefit, there is a strong social benefit to owning a home and it being the aspiration of many. Put simply, homeownership strengthens communities. How? They are more stable – Give Statistic They are more engaged – Give Statistic They are more involved – homeowners are 26% more likely to work with others to solve a community problem. Areas with high homeownership rates also correlate to areas with less crime and children more likely to achieve a higher level of education.
- A 2011 survey conducted by Harris Interactive on behalf of NAR showed overwhelming support for homeownership from both current homeowners and renters. The survey also shows that homeowners don’t show any regret for owning, despite the challenging economy (93% would buy again). And the majority renters (63%) aspire to buy a home in the near future; among this group are 18-25 yr olds who have the highest aspiration.
- ADDRESS BULLET POINTS Homeownership is an excellent long-term investment Note that a seven year comparison was given as that traditionally, most homeowners spend 7 to 10 years in their home. The local market has held up in value considerably compared to other parts of the country
- Homeownership is an excellent long-term investment Note that a seven year comparison was given as that traditionally, most homeowners spend 7 to 10 years in their home. The local market has held up in value considerably compared to other parts of the country
- Homeownership is an excellent long-term investment Note that a seven year comparison was given as that traditionally, most homeowners spend 7 to 10 years in their home. The local market has held up in value considerably compared to other parts of the country
- Local economic conditions include relative unemployment in the county, historically low interest rates and price moderation/negotiating ability. The “compelling housing affordability” sentiment is from National Association of REALTORS chief economist Lawrence Yun and his national projections. Locally, we haven’t varied too differently in market performance and the same projections should hold true.
- Now that we’ve looked at the benefits of homeownership and market conditions, we want to make sure that there is no misconceptions about the availability of mortgages.
- Add that there is concern that credit requirements have become too stringent, something that is being addressed by NAR with the largest mortgage brokers. FHA financing has jumped throughout all the counties over the past 3 years.
- REALTORS have an understanding of the mortgage process and can steer you in the right direction.
- You can run through these last slides as they summarize and tie together information provided earlier in the presentation.
- Consumers can get good buys and find the house of their dreams
- At some point in the near future, these rates will go up. Also a good opportunity for investors.
- While home prices haven’t come down to 2003 levels, they are more comparable to 2005/2006 levels. Plus, buyers, on average, are paying 91% to 92% of the original sale price according to TREND statistics.
- In closing, convey to your audience/client why home ownership is an important component of our society and why there is a reason it is seen as the American Dream for many.