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Top 5 Most Affordable U.S. Markets

Elliott Robinson — Wed, 24 Feb 2010 16:00:07 +0000

How affordable or unaffordable is it to buy a home? Well, it depends heavily on the part of the country where the buyer chooses to live.

Earning the U.S. median income of $64,000 a year is enough to allow buyers to purchase 70.8 percent of all homes sold in the country during the last three months of 2009, according to a joint report from the National Association of Home Builders and Wells Fargo.

But some parts of the country are a lot more affordable than others. Here are five major housing markets that housing analysts judge to be the most affordable major markets in the country.
· Indianapolis
· Detroit
· Dayton, Ohio
· Youngstown, Ohio
· Akron, Ohio

Source: CNNMoney.com, Les Christie (02/17/2010)

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Elliott Robinson, JD – Associate Broker
Keller Williams Realty Metro Atlanta
315 West Ponce de Leon Ave., Ste. 100
Decatur, GA 30030
(404) 431-2117
Web: www.elliottyouragent.com
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Construction Up Along With Builder Confidence

Elliott Robinson — Sun, 21 Feb 2010 16:00:25 +0000

Construction of new homes rose to an annual rate of 591,000 in January, up 2.8 percent from December when the revised rate was 575,000, the Commerce Department announced Wednesday.

Meanwhile, the monthly home builder confidence scale rose two points in February to 17.

The National Association of Home Builders Chair Bob Jones said, “Builders are slightly more optimistic that the housing recovery is finally beginning to take root.”

Builder confidence was highest in the Northeast and the South, weaker in the West and lowest in the Midwest.

Source: The Wall Street Journal, Meena Thiruvengadam (02/16/2010) and CNN, Blake Ellis (02/17/2010)

Housing Components Don’t Last Forever

Elliott Robinson — Tue, 26 Jan 2010 16:00:34 +0000

Many aspects of a home last little more than a decade. Home buyers should be especially vigilant about inspecting these household components because they have a relatively short lifespan, says the National Association of Home Builders.
•   Aluminum roof coating: 3-7 years
•   Enameled steel sinks: 5-7 years
•   Security systems: 5-10 years
•   Carpet: 8-10 years
•   Smoke detectors: fewer than 10 years
•   Faucets: 10-15 years
•   Garage door openers:10-15 years
•   Air conditioners: 10-15 years
•   Asphalt: 12-15 years
•   Termite-proofing during construction: 12 years
Source: Bankrate.com, Marcie Geffner (01/22/2010)

Housing Economists: Sales Are on the Rise

Elliott Robinson — Fri, 22 Jan 2010 16:38:35 +0000

The housing recovery should gain moment in 2010, but the improvement will still be slow, according to a panel of economists speaking at the International Builders Show in Las Vegas.

“It won’t be a strong recovery, but it will be a recovery,” said David Crowe, chief economist for the National Association of Home Builders.

Crowe forecast that sales of new homes will rise by about 33 percent while resales will go up 7 percent. He expects prices to remain stable in most areas, but some cities may see some slight declines.

“I believe we’ve seen the worst of the house price declines … The stage is set for the consumer to return,” Crowe said.

Source: Associated Press, Alex Veiga (01/19/2010)

Older Buyers Look for Easy-Care Homes

Elliott Robinson — Fri, 22 Jan 2010 13:50:41 +0000

A survey showed three key differences between the concerns of 55- to 64-year-old homeowners compared to those of homeowners 65 and older:

•   Younger homeowners were more interested in technology
•   Older homeowners had a strong preference for a single-story floor plan or at least one with a first-floor master
•   Younger homeowners were more eager for home maintenance and repair services, vs. older homeowners, who were more focused on healthcare and transportation

The survey conducted by the National Association of Home Builders and the MetLife Mature Market Institute showed that both age groups want easy access to services that free up their time and help them live in a secure environment.

Growth in housing for older people has slowed as a result of the overall slowdown in new home construction. This is likely to cause a shortage just as this housing is most in demand, points out Paul Emrath, vice president for housing policy research for the home builders.

Source: National Association of Home Builders and the MetLife Mature Market Institute (01/19/2010)