More Americans Believe Economy Headed in Right Direction

Despite continued uncertainty surrounding the fiscal cliff, Americans are showing increased confidence in the housing market and the direction of the economy. According to results from Fannie Mae’s November 2012 National Housing Survey, such improvement bodes especially well for continued strengthening in the housing sector, which in turn is likely to support overall economic growth.

“Consumer attitudes toward both the economy and the housing market continue to gather momentum, with many of our 11 key National Housing Survey indicators at or near their two-and-a-half-year highs,” says Doug Duncan, senior vice president and chief economist of Fannie Mae. “On the housing front, attitudes about the current selling environment continue to improve, with a significant increase in those saying it would be a good time to sell. This growing confidence in a housing recovery, in addition to other factors, may reinforce growing consumer optimism regarding the improving direction of the general economy. Those indicating that the economy is on the right track has risen to 44 percent while those saying it’s on the wrong track has fallen to 50 percent, the smallest gap since the survey’s inception.”

The November survey results show significant movement across many of the indicators. The share of respondents who say now is a good time to sell a home jumped 5 percentage points in November to 23 percent – the highest level since the survey began in June 2010 – narrowing the gap with those who say it is a good time to buy. The percentage of respondents who expect mortgage rates to go up increased by 4 percentage points to 41 percent. Those expecting home prices to go down within the next year also rose by 4 percentage points to 14 percent over last month, a rebound from the survey’s record low in the prior month, while the share who believe home prices will go up in the next 12 months edged up to 37 percent, tying the survey high. Of note, 51 percent of respondents now say it would be easy to get a mortgage, marking the highest rate since the survey’s inception (this survey finding is in addition to the 11 National Housing Survey indictors).

When asked about the economy, those who say it is on the wrong track dipped 6 percentage points since October and a total of 25 percentage points in the past year. Respondents expressed some improvement in the status of their current finances; however, due potentially to the looming fiscal cliff, the share who expect their personal financial situation to get worse over the next 12 months rose 5 percentage points to 18 percent – the highest level since December 2011.

Survey Highlights

Homeownership and Renting

 • Average home price change expectation held steady at 1.7 percent.

 • Fourteen percent of those surveyed say that home prices will go down in the next 12 months, a 4 percentage point increase over last month.

 • The percentage who think mortgage rates will go up continued to rise, increasing 4 percentage points in November to 41 percent.

 • Twenty-three percent of respondents say it is a good time to sell, a 5 percentage point increase over last month, and the highest level since the survey’s inception.

 • The average rental price expectation hit 4 percent in November, a 0.9 percent rise over the past two months.

 • Forty-eight percent of those surveyed say home rental prices will go up in the next 12 months, a slight decrease from last month.

 • The share of respondents who said they would buy if they were going to move held relatively steady at 67 percent.

 • Fifty-one percent of respondents now say it would be easy to get a mortgage, marking the highest rate since the survey’s inception.

The Economy and Household Finances

 • Hitting 50 percent for the first time since the survey’s inception, the percentage who think the economy is on the wrong track has declined by 25 percentage points over the past year, and by 6 percentage points from last month.

 • The percentage who expect their personal financial situation to get worse over the next 12 months rose 5 percentage points to 18 percent, the highest level since December 2011.

 • Meanwhile, 21 percent of respondents say their household income is significantly higher than it was 12 months ago.

 • Household expenses remained stable over the past month, with 56 percent responding that their household expenses stayed the same compared to 12 months ago.

 - RISMedia - http://rismedia.com –

Laurie Wall with The Wall Team with Re/Max Heritage would like to make 2 announcements and give you an update on the Tarrant County Housing Market.

To find out more about our services please go to our website or Facebook page and call us at 817-427-1200. We want to be a real estate resource for you, family or friends.

If you are considering buying a home, selling a home or both, call the experts that have over 105 years combined knowledge of this area to help you. Drop by our Colleyville office anytime.

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New-Home Building at Highest Level in 3 Years

The home-building industry continues to dig out of its slump as the pace of construction posts big jumps for single-family and multifamily houses. Builders had a level of starts in June not seen since October 2008, the Commerce Department reported Wednesday.

Housing starts in June soared 6.9 percent, reaching a seasonally adjusted annual rate of 760,000 units. Broken down, single-family home construction, which makes up the largest segment of those new housing starts, increased 4.7 percent in June. Multifamily housing starts, considered a volatile segment of the market, jumped 12.8 percent last month.

Housing starts were nearly 24 percent higher in June compared to last year at that time.

“Housing continues to be the one sector of the U.S. economy that is outperforming expectations,” Michael Gapen, an economist at Barclays, told Reuters.

Still, while housing starts posted a big leap in June, new housing permits — a gauge of future building — dropped 3.7 percent in June.

Source: “Housing Starts Are Up, but Building Permits Decline,” Reuters (July 18, 2012) - Daily Real Estate News | Thursday, July 19, 2012

Interior Repair Hot Spots Where Sellers Should Focus Their Attention

Selling a home is hardly ever free of headaches. For some just the scrubbing, sprucing and staging required to prep a home for the market can seem overwhelming, but the work doesn’t end there. It’s imperative that sellers don’t ignore necessary home repairs that a buyer’s inspector might uncover during an inspection.

Even small problems can result in buyer requests for repair or replacement credits that can drastically reduce the final sale price, and drastically reduce a seller’s satisfaction with the overall transaction.

Prepare your soon-to-be seller clients ahead of time with our free handout designed to help them focus on the interior hot spots that they can’t afford to overlook. The time and money spent addressing these issues ahead of time can add up to thousands that won’t be chopped off their sale price once a buyer’s inspector makes the rounds.

http://pro.truliablog.com/sellers/interior-repair-hot-spots-where-sellers-should-focus-their-attention/

It’s important to keep fresh content on your website at all times.

Jay Young takes new photos of North East Tarrant County’s Top Producer Laurie Wall

Mary Ruth’s YouTube Video was recently Featured under

“Network Videos” in the RE/MAX Texas Newsletter. 

Thank you RE/MAX of Texas!

How Reading Books Will Impact Your Future?

 Laurie Wall of The Wall Team with Re/Max Heritage II says aside from the “Bible”, her favorite book would have to be "The Go Giver". She has just finished reading "Delivering Happiness" which she states is also a great read. Several of her other favorites are "Goals", “Good to Great", “7 Habits of Highly Effective People” and “Love Is A Choice”. These books have helped Laurie & Larry tremendously with their vision for their lives and business. Laurie added that her 2 favorite novels are “Redeeming Love” and “Severe Mercy”. Laurie & Larry both love reading books because it changes their perspective and enlarges their thinking.

Someone once told Laurie many years ago, "Where you will be in your life in the next 5 years will be greatly affected by the people you meet and the books you read”. This has proven true for her life. The books she has chosen to read have shown her new principles and ideas of what is possible. Reading about what other people have done is very inspiring and challenging to her. Laurie adds that Reading keeps your mind growing and expanding. “Whatever you fill your mind with is what you will become”.  

The Residential Real Estate Market is Really Heating Up!

Today is May 8^th and we already have 23 contracts (properties) scheduled to close this month. We have taken 20 new listings this May and most of our properties are receiving multiple offers on them. We listed a House last Friday and by Sunday had 3 offers on it. If you are thinking about listing your house or know of someone that is considering listing please don’t hesitate to call us today 817-427-1200

 Fran Fischer is our Closing Manager and Irene Mochulsky is our Listing Manager on The Wall Team with RE/MAX Heritage.

The Reasons Your House Isn’t Selling

and What You Can Do about It.

Selling a home can be a daunting undertaking, and while you may be helpless to control the state of the market or the number of prospective buyers in your price range, here are a few ways to be proactive against some of sellers’ most common pitfalls:

Problem: Competition. Are there too many homes for sale in your price range? If there are too many options open to buyers in your market, you may not see as many showings as you’d like.

What You Can Do: Unfortunately, the state of the market in your neighborhood or town is pretty much beyond your control. You’ll need to think about how you can make your home a more attractive sale, either by lowering your price or providing attractive terms of sale.

Problem: Your asking price is too high. It’s stating the obvious, but if your asking price is too high, you’ll price yourself right out of a lot of potential showings. Further, even if you do manage to land a buyer at your price, his or her financing is more likely to fall through during the sale if the house will not appraise.

What You Can Do: Working with a Wall Team real estate agent to come up with a fair asking price is vitally important. Make sure you are educated about the market you’re selling in, and price your home accordingly. Ask yourself whether you’d rather net a little less than you had hoped – or not be able to sell at all.

Problem: Your home lacks curb appeal. The condition of your home inside and out is critically important to making a sale. If your home doesn’t show well, a potential buyer is going to head elsewhere. Most buyers are looking for a house they can move into without a ton of small repairs and cleanup.

What You Can Do: You’ve been meaning to fix that leaky faucet or repaint the fence in the front yard, so now is the time to do it! Of course, this should have been done when you decided to sell, but it’s never too late… De-clutter your rooms and store all personal effects. Consider investing in some new curtains, bath towels and throw rugs. To make sure that you nail that crucial curb appeal, spruce up your yard with new plantings, trim hedges and weed flowerbeds, and keep the lawn short and neat. Those minor repairs that you have been living with will add up in the eyes of a prospective buyer.

Problem: Location. Everyone’s heard that old maxim that real estate is all about “location, location, location!” But what do you do if you’re trying to sell a home on a busy street, or too close to a major highway?

What You Can Do: There are actually a few things you can do to increase your chances of a sale. If your home is on a busier street, highlight any benefits on the flip side—maybe your backyard is fenced in, your taxes are low or you can walk to a school nearby. Make sure you pay extra attention to those highlights. If you are in an area where your home is very close to a major highway, consider some type of privacy hedge or fencing. If you have older windows consider replacing them – the benefit will be two fold, you will have new windows as a selling feature and those new windows will provide a little more sound buffering inside the home. Last, consider selling at a time when the foliage is in full bloom to help naturally block sound or visual effects from nearby highways.

Source: Susanne Consumer News and Advice Home, Real Estate News