December 2012

 

Happy New Year!

I hope that the end of the year finds you and your families well, and that the new year brings health and prosperity.  Here are a few trivia questions to see if you were paying attention during 2012!  For answers, visit my website at http://www.mikebeckerhomes.com/home/trivia-quiz-answers

 

 

1.     What member of the royal family won an Olympic medal in the London 2012 games?

a.     Prince William

b.     Prince Harry

c.      Zara Phillips

2.     Barack Obama was re-elected as the 44^th President of the US.  How many presidential elections has the US held in its history?

a.     51

b.     53

c.      57

3.     What is the Chinese Zodiac symbol for those born in the year 2012?

a.     Dragon

b.     Rabbit

c.      Dog

4.     How many medals did Olympic runner Usain Bolt win?

a.     2

b.     3

c.      4

5.     What was the top grossing movie of 2012?

a.     The Hunger Games

b.     The Avengers

c.      The Dark Knight Rises

6.     What country won the most Olympic medals in the London games?

a.     US

b.     Great Britain

c.      China

7.     Where did Hurricane Sandy hit in the US?

a.     New York

b.     Connecticut

c.      New Jersey

 

Area Home Sales Statistics for Northern Kentucky and Greater Cincinnati

If you would like more information about sales in your specific community, send me an email at mikebeckerhomes@fuse.net and let me know how I can help you.

Northern Kentucky

It’s become clear in 2012 that housing is in recovery mode. This rebound has occurred by a combination of record low mortgage rates, improvements in the job market and a reduction in distressed homes coming on the market. In addition, smaller inventories are slowly stabilizing home prices in Northern Kentucky and across the U.S. Consumer confidence is returning and

housing is more affordable than ever.

 

Affordable home prices and historically low interest rates have renewed consumer confidence in home ownership, locally. For the month of November 2012, the Northern Kentucky Association

of REALTORS® reports that home sales have increased for 17 months over the same month of the previous year. November’s home sales (391) rose 5.4% over November, 2011 (371) sales.

Through November, local home sales rose nearly 15% over the same period of 2011, an encouraging improvement.

	November 2011	November 2012	% change
Residences sold	371	391	5.39%
Average price	$154,371	$138,903	-10.02%
Median Price	$127,000	$115,000	-9.45%
Average days on market	90	98
	Year to Date 2011	Year to Date 2012	% change
Residences sold	3,963	4,556	14.96%
Average price	$147,671	$144,707	-2.01%
Median Price	$127,000	$126,500	-0.39%
Average days on market	99	95

Cincinnati

	November 2011	November 2012	% change
Residences sold	1246	1551	24.5%
Average price	$147,271	$154,077	4.6%
Median Price	120,000	121,900	1.6%
Average days on market	83	79
	Year to Date 2011	Year To Date 2012	% change
Residences sold	15,583	17,638	13.2%
Average price	$152,278	$156,640	2.9%
Median Price	$119,000	$124,000	4.2%
Average days on market	84	80

 

 

Fiscal Cliff and Housing

As of the writing of this newsletter, no budget deal has been reached to avert the Fiscal Cliff.  Many reports speculate that a change to the long-standing policy that allows homeowners to deduction mortgage interest payment from their income taxes could be part of a “Fiscal Cliff” deal. The National Association of Realtors’ position is that the mortgage interest deduction is vital to the stability of the American housing market and economy and we will remain vigilant in opposing any future plan that modifies or excludes the deductibility of mortgage interest.  Please contact your legislators and tell them to maintain the mortgage interest deduction.

 

 

 

 

13 Reasons to Look Forward to 2013

 

When we look back on 2012 a long time from now, it may be viewed as the first year of the recovery, the year in which real estate reversed its course and moved in a more positive direction.

 

With that in mind, here are 13 reasons — courtesy of REALTOR® Magazine’s online news — why real estate pros can look forward to next year:

 

1. There’s greater optimism about increasing home values.

 

2. More new households are forming.

 

3. Home shoppers are feeling a greater sense of urgency.

 

4. Home ownership remains a goal of members of the Millennial generation.

 

5. Foreclosure starts are falling to pre-housing-bust levels.

 

6. Interest rates should remain low through next year’s selling season.

 

7. Loan demand for home purchases is climbing.

 

8. More Americans say it’s a good time to sell.

 

9. The number of improving housing markets is going up.

 

10. Job creation is expected to provide a much-needed boost to the commercial sector.

 

11. Housing starts are picking up as builder confidence increases.

 

12. As housing values rise and equity returns, fewer home owners are underwater.

 

13. Real estate is contributing to an overall economic recovery.

 

That’s not to say there aren’t challenges. Lending remains tight, there’s a large foreclosure backlog, and regulatory challenges and the fiscal cliff loom ahead. But on balance, real estate appears to have a bright future in 2013.

 

Source:  http://speakingofrealestate.blogs.realtor.org/2012/12/19/13-reasons-to-look-forward-to-2013/?om_rid=AADNEU&om_mid=_BQ3cyTB8v9TvUt&om_ntype=RMODaily

 

5 Reasons to Buy a Home Now Instead of the Spring

Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now.  Read more.