Seize The Market!

Today’s News Synopsis:

As more buyers are seizing control of the market, so are more home-sellers decreasing their prices.  The Commerce Department reported an 11.2% decrease in housing starts in December.  So what exactly is that one thing you need to check before buying a home if you want to save A LOT of money?

In The News:

Wall Street Journal “U.S. Housing Starts End 2018 on Soft Note” (2-26-2019)

“U.S. housing starts tumbled in December, capping a weak year for construction of new single-family homes due to factors such as rising construction material
and labor costs.”

Redfin – “More Home-Sellers are Dropping Their Prices Than in Previous Winters as Buyers Seize More Control of the Market” (2-26-2019)

“Price drops are a highly cyclical measure, typically peaking late in the year and falling dramatically to start each new year, and this year is no different.”

Zillow – “New York, Florida Lead Zillow’s List of Buyer-Friendly Markets” (2-26-2019)

“Home shopping season is almost here, and prospective buyers in Florida and the New York metro area can expect more favorable conditions than those in most other major markets, a new Zillow® analysis reveals.”

MarketWatch “Americans could save $700 million by checking one thing before buying a home” (2-26-2019)

“Studying list prices or putting in a lower bid on a house will certainly save you money, but Americans could save even more money by shopping around for a better mortgage rate.”

Forbes “Telecommuting’s Growing Popularity Boosts Home Office Appeal” (2-26-2019)

“Studying list prices or putting in a lower bid on a house will certainly save you money, but Americans could save even more money by shopping around for a better mortgage rate.”

Money Talks News “9 Ways to Save Big on Renting Your Next Home” (2-26-2019)

“It’s no secret that rents are high in many areas of the country. In recent years, high demand for rental properties — even among baby boomers — has driven up the costs.”

Chicago Tribune – “Downsizing the American Dream: Developers shrink square footage and prices as young buyers enter market” (2-26-2019)

“Crystal Reed and Shayla Williams knew they wanted to buy a home — they just didn’t know whether they could afford one.”

 

California Real Estate Investor Events

Bruce Norris will be giving his latest Real Estate Market Update with MVP on Thursday, February 28.

Bruce Norris will be presenting 10 Decisions to Make Before The Next Downturn with OC FIBI on Tuesday, March 5.

Bruce Norris will be giving his latest Real Estate Market Update with IVAR on Wednesday, March 6.

 

Looking Back:

35% of U.S. homebuyers were bidding sight unseen.  The Commerce Department reported 7.8% decrease in new home sales for the second month in a row.  Realtor.com released their latest research on the hot spots to live for millennials, Gen-Xers, and baby boomers.

 

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