Newsletter02-2010Click on the PDF Version, it's an easier read. Lisa TaosRealEstateNews It’s a New Year! ~ February 2010 “Do business with the people who are STILL doing the business!†Lisa Davis ~ Top Producer 2009 2010 Economic Outlook - Excerpts from a Realtor Magazine Article by Robert Freedman 1/10 National Association of Realtors Chief Economist Lawrence Yun says that the lending market is opening up thanks to solid gains in the lower end of the housing market, the first-time home buyer tax credit, and the rebounding stock market. Distressed sales drove down prices nationally by 13% for the year, resulting in buyers returning to the market looking for bargains. Economic Indicators 2008 2009 2010** Inflation Rate 3.8% -0.4% 1.6% Unemployment Rate 5.8% 9.3% 9.8% Gross Domestic Product (GDP) 0.4% -2.5% 2.8% Housing Existing Home Sales Sales (in millions) 4,913 5,011 5,694 Prices $198,100 $172,600 $178,800 Change in Price -9.5% -12.9% 3.6% Housing New Home Sales Sales 485,000 397,000 549,000 Prices $232,100 $211,100 $219,900 Change in Price -6.4% -9.0% 4.2% * Estimated **Projected 2008 2009* 2010** Affordability Index (>100 is good) 135 166 147 Inventory Housing Starts 904,000 564,000 752,000 Month’s Supply (National Avg) 10.5 8.5 8.0 Mortgage delinquencies*** 7.88% 9.24% NA Mortgage Financing Federal Funds Rate 1.9% 0.2% 0.5% 30 Year Fixed Rate (Avg) 6.1% 5.2% 5.7% 1 Year Adjustable Rate (Avg) 5.2% 4.8% 5.1% *Estimated **Projected ***National Delinquency Survey data from the Mortgage Bankers Association: 2009 data is as of the 2nd quarter. NA-Not Available Three Fantastic Values Right Now! PRICE REDUCED IN WIEMER! 1970 sq.ft. 3 bdrms, 3 baths, 1.45 acres MLS 88120 $389,000! NEW PRICE, NEW CONSTRUCTION 1592 sq.ft. 2 bdrms, 2 baths, 1.5 acres MLS 86619 $365,000 DESIREABLE LOS ALTOS 2386 sq.ft. 4 bdrms, 3.5 baths MLS 86651 $607,500 |
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