Good news out of Washington:"Jan. 27, 2011 – PENDING HOME SALES IMPROVED FURTHER IN DECEMBER marking the 5th gain in the past six months, according to the National Association of Realtors® (NAR). The Pending Home Sales Index, a forward-looking indicator, increased 2 percent to 93.7 based on contracts signed in December from a downwardly revised 91.9 in November. The index is 4.2 percent below the 97.8 mark in December 2009. The data reflects contracts, not closings, which normally occur with a lag time of one or two months."
“In the past two years, homebuyers have been very successful, with super-low loan default rates, partly because of stable home prices. That trend is likely to continue in 2011.” Yun said. “The latest pending sales gain suggests activity is very close to a sustainable, healthy volume of a mid-5 million total annual home sales.” Pending home sales in the South jumped 11.5 percent to an index of 101.9 and are 1.7 percent above December 2009."
Buyers, the question for you, "Do I pay $300,000, 4.5% interest, at $1520 per month now, or wait a couple of months to get a great deal at $280,000, 5.5% interest, at $1590 (that's $70 more per month)? Buyers, pick up the phone and call me, quickly! Plus, to my awesome current and future sellers, same goes for you!
On a personal note, Ron and I managed to escape last week to Miami to enjoy the ING Miami Marathon (26.2 run for him, 5K for me). From there we continued on to Key West for a couple of days (and we still managed to close 4 properties in January)!
If any of you have always wanted to "experience" Miami and Key West but haven't made it there yet, make sure it's on your bucket list. My only suggestion is lose 10 pounds before you visit or bring your stretchy pants because the food is incredible! Here's to a terrific week for everyone!Your Realtor For Life,
Karen
Karen Branham, CRS
Broker Associate, SRES, SFR, e-Pro
Short Sales & Foreclosures
Coldwell Banker United Realtors
Cell: 850-832-8626 Email: karen@karenbranham.com
