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QUOTE OF THE WEEK... "If you could kick the person in the pants
responsible for most of your trouble, you wouldn't sit for a month."
--Theodore Roosevelt, 26th President of the United States
INFO THAT HITS US WHERE WE LIVE... Many homeowners are missing out on the opportunities in today's housing market but, as TR noted, it's actually their own fault. Fannie Mae's National Housing Survey (NHS) found that as many as 15 million homeowners underestimate the equity they have in their homes, so they're reluctant to consider buying another one. Such borrowers underestimate how large a down payment their home equity could provide, their chances of qualifying for a mortgage, and therefore their opportunities to sell their current property and buy a different one. These perceptions are especially surprising since home values have risen about 20% from 2011 to 2014!
Further evidence of that price appreciation came with the latest home price index from a major real estate tech and data firm. They reported that home prices across the country in June were up 1.7% for the month, and up 6.5% annually, which made 40 straight months of yearly gains. Price gains are moderating, as these data mavens are forecasting a 0.5% price increase from June to July and a 4.2% annual hop from June 2015 to June 2016. The "Advance Read of July Trends" from realtor.com reports the median list price is up 7% year-over-year, but days on the market increased to 69. Their chief economist said this "suggests the market is finding more of a balance, but demand is still strong."
BUSINESS TIP OF THE WEEK... If you want to be innovative, stop doing things the way everyone has always done them. Take all you know and turn it upside down. Approach a challenge with no constraints.
INFO THAT HITS US WHERE WE LIVE... Many homeowners are missing out on the opportunities in today's housing market but, as TR noted, it's actually their own fault. Fannie Mae's National Housing Survey (NHS) found that as many as 15 million homeowners underestimate the equity they have in their homes, so they're reluctant to consider buying another one. Such borrowers underestimate how large a down payment their home equity could provide, their chances of qualifying for a mortgage, and therefore their opportunities to sell their current property and buy a different one. These perceptions are especially surprising since home values have risen about 20% from 2011 to 2014!
Further evidence of that price appreciation came with the latest home price index from a major real estate tech and data firm. They reported that home prices across the country in June were up 1.7% for the month, and up 6.5% annually, which made 40 straight months of yearly gains. Price gains are moderating, as these data mavens are forecasting a 0.5% price increase from June to July and a 4.2% annual hop from June 2015 to June 2016. The "Advance Read of July Trends" from realtor.com reports the median list price is up 7% year-over-year, but days on the market increased to 69. Their chief economist said this "suggests the market is finding more of a balance, but demand is still strong."
BUSINESS TIP OF THE WEEK... If you want to be innovative, stop doing things the way everyone has always done them. Take all you know and turn it upside down. Approach a challenge with no constraints.
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