Terry Clar -Nothnagle Realtors

Terry Clar -Nothnagle Realtors - When you work with me (buyers & sellers), you receive my personal professional service and you are not delegated to assistants or sub-agents.

03/11/2015

What to Expect from Real Estate in 2015:
11. Right now geopolitical factors outside the U.S. are helping keep mortgage interest rates down at home. Weakness in China and Europe have led to higher than normal interest in the dollar, adding that concerns over the Russia-Ukraine situation as well as with Iran and nuclear diplomacy are pushing the yield on the dollar. Before 2008, the 36-year average mortgage interest rate was 9.2%, and never below 5.8%. And though the Fed has already scaled back it’s buying of mortgage-backed securities–which could affect interest rates, mortgage rates remain very low compared to historical rates.

03/09/2015

What to Expect from Real Estate in 2015:
10. This year the housing market will be driven more by underlying economic fundamentals–job growth, incomes, household formation–than by macro-economic factors such as national price crashes. Mortgage interest rates and price recovery have driven the housing market nationally for a long time now, but these factors are not nearly as important as local economies.

03/07/2015

What to Expect from Real Estate 2015:
9. Foreclosures will match pre-recession levels. November 2014 indicated that foreclosures were down 17.2% from the year before. The majority come from homes that have long been in the foreclosure process, with just a few newer properties in the mix.

03/05/2015

What to Expect from 2015:
8. Where builders were building fewer, more expensive homes, there will be a shift to cheaper homes to more effectively compete. The trend—driven in part by a limited supply of land during the recovery–has left a price gap between more expensive new homes and less expensive existing homes, keeping new home sales around or lower than the 450,000 per year mark since the recession. “In 2015 builders will try to push above that ceiling on new home sales and to do so will have to build smaller, cheaper homes.

03/03/2015

What to Expect from Real Estate in 2015:
7. Multi-family housing will continue to be hot in 2015 to serve the rental market and existing home sales will be up by 8% as more people put their homes on the market. New construction starts and sales were only half their normal level in 2014 and will again be suppressed as the inventory for previously owned homes increases.

03/01/2015

What to Expect from Real Estate in 2015:
6. Rent prices will continue to rise. While the 25 to 34 year old Millennials are renting for demographic reasons mentioned above and a lack of a down payment, an expected 3.5% and continuing rise in rental costs, compared to a fixed mortgage payment and more stable housing market, will encourage renters to buy vs rent.

02/27/2015

What to Expect from Real Estate in 2015:
5. Millennials will overtake Gen X as homebuyers. By the end of 2015, Millennials (those under 35 years old) will become the largest group of homebuyers in the US. While 31% of Gen X say they want homeownership, 42% of Millennials feel the same. The only reason we have yet to see a surge is that younger Americans have delayed getting married and having children.

02/25/2015

What to expect from Real Estate in 2015:
4. Interest rates according to the Mortgage Banker’s Association are expected to rise to 5% by the end of 2015.

02/23/2015

What to Expect in Real Estate 2015:
3. The home-buying process should get a little less hectic. More inventories will continue to come online, putting the competitive pressure on sellers for a change. This more balanced market will be smoother sailing for everyone, both for buyers in search of a competitive advantage, and for sellers who turn around and become buyers themselves who in the past two years struggled with low inventory, tight credit, bidding wars and intense competition from investors and all-cash buyers.

02/21/2015

I'm sharing "What to expect in Real Estate 2015":

2. Affordability will worsen. Even though prices won’t rise as fast as last year, they will probably rise faster than incomes with an expected decrease by 5% to 10%.

02/19/2015

I'm sharing "What to expect in Real Estate 2015":

1. Price growth decelerated for nine straight months from Jan. to Sept. 2014. Compare December’s 2013 10.8% year-over-year price growth with September’s 4.8% year-over-year change. Easing housing inventory levels and the exit of investors from the market will continue to put the brakes on home price escalation. Predict an annual gain of between 4% and 5%.

Caldwell-Cook 1957 Ranch. Solid as a rock with hardwoods. December 2014 Hi Eff Furnace, Spacious Lot, everything in goo...
02/12/2015

Caldwell-Cook 1957 Ranch. Solid as a rock with hardwoods. December 2014 Hi Eff Furnace, Spacious Lot, everything in good condition. High and Dry Basement that could easily be finished. All Replacement Windows. Close to 390. Easy show.This is an estate. http://www.1magellan.com/listing?id=346

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Rochester, NY
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