Tag: recovery

Home Values Bouncing Back

Written by: Samantha Guarderas

     Although the country has been seeing the damage from the plunge in our home values, the housing recovery has been able to slowly tick upward, in spite of the lack of job growth. Zillow recently announced on their real estate market report that, “home values increased 2.1% from the first to the second quarter of 2012 to $149,300.” The home price in 20 major markets rose 1.3% in April, making it the first monthly increase in over six months. This not only represents the turn around for the housing market but also, national home values have consistently risen for the fourth consecutive month, according to Forbes. This stability in the increase of home values hopefully represents future progression. Zillow estimates that the housing market will continue this road to recovery at a slow pace over the next year.

     The cities that are speculated to bring in above average gains over the next year are those that have endured a lot of loss such as Phoenix, Las Vegas and cities in Florida. There is assumption that if home prices continue to increase in these cities, many new homes will be put on the market. This would be a result of homeowners who have delayed putting their homes on the market in hopes of values to recuperate. This sudden rise in listings could even out the prices for some time in home value.

     Statistically, we cannot ignore the fact that home values are on the rise and investment opportunities continue to flourish. We have seen a common theme of consistency in 2012. Why not invest? Eklipse Real Estate is offering the perfect investment opportunity through a 6-unit condo building located in the heart of Venice.

Phillip Braunstein is the listing agent.

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Recovery & the Housing Market 2012

Written by: Samantha Guarderas

With recent findings we have the upmost hope for the housing market as 2012 nears its way to the end of a year that can only be synonymous with the word recovery.  The housing market for the remainder of 2012 is estimated to progress according to The San Francisco Chronicle, as home sales are escalating pointing towards recovery. Two major things to pay attention to are both pre-existing homes and new homes.

Previously owned home sales have jumped from 3.39 million in 2010 to an expected 4.55 million by the end of 2012. This jump in pre-existing home sales is significant in housing upturn considering approximately 93% of the market in the United States consists of older homes. This is a positive start to the turnaround of the market and sparks optimism for the future of the housing market.

New homes are seeing a leap in numbers as well.  May saw an increase of 7.9% in authorization of new construction making it the highest it has been since 2008. These numbers exceeded estimations made by analysts and has become a pleasant surprise, contributing to a promising future.

The latest facts have one thing in common and that’s increase. Increase is key in fueling the housing market and allowing it to flourish to its highest ability. With 2012 halfway over, there is plenty of time for this increase to further exceed expectations and continue to add to the recovery process.