Mar 25 2016 Rites Of Spring

Dated: 03/25/2016

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Here is another gorgeous home I have up for sale. Click on the virtual tour below to see more.

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Home buyers and sellers – and by extension – real estate professionals, should be prepared for an early ramp-up to the spring housing season.
This according to the prognostications of one Punxsutawney Phil, the groundhog who did not see his shadow Feb. 2. Legend says no shadow for Phil means an early spring.
Of course, those of us more grounded in reality know what matters more than weather is the strength of the economy and the fundamental drivers of supply and demand.

Currently, there is only a 3.9-month supply of homes available for sale nationwide. In a normal housing market, there should be a 6-month supply. In some of the hottest markets, there is only a 1-month supply, with homes selling for above asking price almost as soon as they are listed.
As such, home prices have continued to rise steadily, but driven buyers have been willing to pay a premium rather than face ever-rising rents.
The latest intelligence says prices should level off as more homes come on the market, but nothing is set in stone.
The biggest surprise for buyers has been mortgage rates – which have stayed low even after the Fed's 0.25 hike in baseline interest rates in December. This paradoxical trend should continue as long as global market turmoil fuels demand for safer-haven bond investment.
The U.S. job market is strong, with unemployment holding at 5 percent. Employers added more than 2.6 million jobs in 2015, and there are still 5.6 million jobs left unfilled. And more than 3.1 million U.S. workers quit their jobs in December.
For more proof of this early-spring thing, look no further than the predictions of Home Depot – recently announcing plans to hire 80,000 workers in 2016.
After posting record volume transactions in 2015, it hopes to ride the rising flood of new purchase mortgages and refinances.
According to the Farmer's Almanac, 2016 is the only the 14th time in the last 95 years that Phil didn't see his shadow.
Either way, spring 2016 is shaping up to be the busiest in a decade.

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Amy Laidlaw

About Me BIOGRAPHY ~Seller’s Success Story~ How my client received 23% more for his home than his anticipated list price! I suggested adding $1,700 for granite counter tops in the kitchen ....

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