PROFESSIONAL REAL ESTATE VIDEO FOR YOUR LISTING
Video Packages Starting At $299
All of our video tours are shot on professional camera equipment and commercial grade software editing programs. We also use a SteadyCam stabilizer to give the viewers a sense of "floating-on-air" as they tour the home. We also add a musical background soundtrack and voiceover narration to enhance the viewer's experience and capture their attention as they tour the property.Video Packages Starting at $299
MASS EXPOSURE FOR YOUR REAL ESTATE LISTING THROUGH THE POWER OF SYNDICATION AND PROMOTION
1. Upon completing your real estate video, we start by uploading it to several video sharing sites like YouTube, MetaCafe, Yahoo, Veoh, DailyMotion etc..by utilizing a video uploader software program that automatically syndicates your Yakima real estate video to several video sharing sites.
2. Your Yakima Video Tour listing is submitted to the several Real Estate listing websites and classified ad sites that are popular resources for browsing real estate such as Trulia, Zillow, FrontDoor, Hotpads, Craigslist, Backpage, Postlets, RealBird, Local.com, Vast, Lycos, Oodle, GOOGLE BASE and many more. Many of these sites also allow video tours to be included as part of the listing.
Yakima Real Estate & Homes For Sale in HD. Watch this video example to learn how we take a cinematic approach to a real estate listing by showcasing the home's greatest features and a glimpse of it's location and surrounding neighborhood.
Here is an example of a Yakima rental apartment. In addition to real estate for sale, we can get more exposure to your rentals, rental homes, vacation rentals, cabin rentals or apartment rentals as well. We can also produce your real estate listings in Spanish.
Need video for your Yakima area lodging, resort, restaurant, hotel or motel. We can create a web promo video custom designed for your business. Check out this sample video for Whistlin Jack Lodge.
Today's Real Estate Market Video November 7, 2010
Visit our Yakima Real Estate Blog page to see previous Real Estate related videos and more. We also have a Live Updated Real Estate News Page for finding the latest Real Estate related news from various resources online.
Yakima Real Estate Market Report- Ed Butowsky, Managing Partner of Chapwood Investment Management, joins Varney & Company to discuss the real estate market and its growing crisis despite bailout plans by this administration.
Full Motion Commercial Grade Video Tours of Yakima, WA Real Estate, surrounding areas..and the Pacific Northwest with map based browsing of Real Estate Videos. We can help you sell your Yakima Homes for pennies-on-the-dollar when compared to traditional print advertisement. If you are a Realtor/Agent or a Home Owner and you are serious about getting huge exposure to your Yakima, Washington listings for sale, give us a try and watch how Real Estate Video can give you an edge over the competition.
Thursday, November 25, 2010
Realty Tours Northwest of Yakima | Yakima WA Real Estate and Homes For Sale
Sunday, November 7, 2010
2010 Home Buyer’s Trends | FavStocks
Home & Real Estate2010 Home Buyer’s Trends
By Chandler Man on 11/01/2010 – 5:15 am PDTLeave a CommentA homeowner’s personal preferences and styles is still the first choice in today’s home buying. However, excellence and high performance is the hub of the home buying process more than quantity. Bigger is not the standard now, but smaller that promises great savings. Want to sell a home? Here is what home buyers are looking for this 2010:
Open Floor Plans – Appliances, granite counter tops for kitchen, living rooms, and master bedrooms all on the first floor. Potential home owners are now becoming more economical to reduce operating cost.
Amenities – 2010 buyers prefer newly built homes that are not really as big as past buyers prefer. Energy-efficient appliances is a must in a home that is easy to organized, and economical..
Accessibility – Potential homeowners are looking for homes intended for aging like Condo units with elevators, which are more engaging than conventional walk up alternatives or single-family homes like in Yakima WA Homes where staircases and bathrooms can accommodate electric chairs and support handles.
Energy Efficiency – Potential homeowners are looking in to home functions more than ever before. According to The Builder/American Lives New-Home Shoppers Survey, today’s home buyers are eager to invest on economical yet efficient products like high-performance windows, high efficiency HVAC and insulation.
Functionality – Today’s home owners want a home where they could unwind and loosen up without going out. Literally a place where they don’t have to go out, where entertainment showplaces like custom built-in bars, theater areas, exercise rooms and guest suites invite each member to stay for a while. Because freelancing is becoming prevalent, numerous home buyers scout for home wher they could business inside their homes.
Homeownership is a sign of freedom, financial stability and independence which truly gives a sense of pride and excitement. The American dream continues as more and more people wanted to buy a home. So, if you are planning to buy a home at Yakima Washington Real Estate take note that this year’s home buying trend might go beyond your expectations. Current buyers are now careful to buy affordable homes, yet efficient and designed for function, and which is easy to maintain and manage.
Technorati Tags: home buying, Home buying trends, Yakima WA Real Estate
Tags: Efficiency, efficiency hvac, Estate, granite counter tops, Real, shoppers survey
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Yakima Rentals, Apartments and Homes for Rent - Realty Tours Northwest of Yakima | Yakima WA Real Estate and Homes For Sale
REALTY TOURS NORTHWEST provides VIDEO TOURS of Yakima homes for rent, apartments, duplexes, condominiums, homes for sale, commercial listings, vacation rentals, cabin rentals, lodging and more. Wether you are a For Sale By Owner or a Realtor.....we can gain the MOST exposure to your Yakima County and surrounding area listings! We are located in Yakima Washington and we now have some new price packages to fit your budget.
November 7, 2010 Yakima Real Estate- The crisis in the real estate market - Realty Tours Northwest of Yakima
In this Yakima Real Estate video Ed Butowsky, Managing Partner of Chapwood Investment Management, joins Varney & Company to discuss the real estate market and its growing crisis despite bailout plans by this administration.
Friday, October 29, 2010
October 29, 2010 - Yakima Real Estate Market - Realty Tours Northwest of Yakima
Ryan Raveis, Senior Vice President of William Raveis Mortgage, discusses the jumbo mortgage real estate market for 2010.
Sunday, October 24, 2010
Whistlin' Jack Lodge, Resort & Restaurant on Chinook Pass,Washington (Realty Tours Northwest of Yakima )
via sites.google.com
27 Miles east of the Chinook Pass Scenic Byway summit along WA State Route 410 sets Whistlin' Jack Lodge & Resort. Built in 1931, the original lodge that served as a waypoint for weary travelers along the route was purchased by the Williams Family in 1957 and transformed to what has become a world class tradition in mountain hospitality.
The lodge that exists today was built around the original building and relics of the old historic lodge can still be found through-out the building today, including the old original natural stone fireplace found in the Fireside Lounge.
Whistlin' Jack Lodge today is a favorite getaway for those Mount Rainier/Chinook Pass area travelers and tourists looking for a Mountain Retreat which is centrally located on the Naches River between the summit of Chinook Pass and Yakima Washington.
Accomodations at the Lodge include:
* Cabin, Cottage and Bungalow Rentals
* 8 Unit Riverside Motel
* Northwest Cuisine Riverfront Dining
* Fireside Cafe & Lounge
* Premium Yakima Valley Wines
* Live Entertainment
* Banquet Room for Weddings, Business Conferences, Seminars, Reunions
* Unique Gifts, Souvenirs & Collectables
* 24-Hour Shell Gas Station
* Grocery Store
* Cliffdell Delicatessen
* Weather Cam
* Local Chinook Pass Maps
* Hiking Trails
* Camping information
* Fishing On The Naches River
* Local Hunting Information
Visit http://www.realtytoursnorthwest.com for information about the greater Yakima Valley Area and Video Tours of Homes for sale on Chinook Pass.
October 24, 2010 Yakima Real Estate Market - Foreclosure Freeze to Lead to Another Crisis? - Realty Tours Northwest of Yakima | Yakima WA Real Estate and Homes For Sale
FBN's Charlie Gasparino on the potential long-term impact of bank's suspension of real estate foreclosures.
Saturday, October 23, 2010
October 23, 2010 Yakima Real Estate Maket- Avoid Foreclosure
via sites.google.com
The threat of foreclosure has over 1 in 5 homeowners wondering about their options and what will happen to them. In this video we provide a few examples of how you can take charge of your life and financial situation in order to avoid foreclosure.
Saturday, October 9, 2010
October 9, 2010 Today's Yakima Real Estate Market - Seattle Area Home Sales Statistics. - Realty Tours Northwest of Yakima | Yakima WA Real Estate and Homes For Sale
"This is my first video of real estate statistics for September 2010. The data is for King County, Pierce County, and Snohomish County (Greater Seattle Area) in Washington State. I plan to provide a monthly video market update, so please subscribe and visit my website at ListedByStephanie.com"
Friday, October 8, 2010
Five Tech Tools You Need to Survive in 2011 : YPN Lounge
Five Tech Tools You Need to Survive in 2011
Jonathan Osman
By Jonathan Osman
No one would have guessed that REALTORS® would look back on 2009 as “the good ole days,” but as the real estate market continues to find bottom, that’s exactly what some are doing. The reality for 2011 may be that we are all fighting for a smaller piece of the sales pie and remaining in business means implementing low-cost solutions to save money.
That being said, here are a five technology tools that brokers and agents alike should implement to help survive an uncertain 2011.
1. Cloud-based Phone Service
The telephone is still the most important tool of our business but for most brokerages, this can result in a huge monthly expense towards the bottom line. Plus, every agent walks around with a phone attached to their hip so is the expense of a phone system and monthly service even necessary?
Services like RingCentral, Grasshopper, and Phonebooth offer users a plethora of options and features usually reserved for phone systems that cost as much as a BMW 550i for less than the cost of a cell phone bill. Local number – check, 800 number – check, fax-to-email – check. “Find Me” features – check. Best of all, whether you are a solo agent, small company working from home, or a mid-sized firm with 50 agents, you can still have the big-company presence which is could help in recruiting agents to work for you.
Still need a desk phone? Thanks to the recession, many businesses are selling off their existing equipment on eBay for cheap. Search SIP Phone and you will find compatible plug-and-play phones ranging from $39 to $150 or 50 – 75 percent off what they sold for new.
For the solo agent, Google Voice can offer many of the same features as the pay-services but for free. In fact, some agents that only have a cell phone as their primary number use their Google Voice number as their business line (and there’s no mailbox to get full).
2. Certified Refurbished Computers, Printers, Copiers
I have not purchased a new computer since 2001 and no, I am not still using a Tandy. Almost a decade back, I was turned on to purchasing refurbished equipment by a tech guy and I haven’t looked back since. While some may do well with a computer and printer off the shelf from the member’s shopping club, actual business computers (which are lighter, have stronger chassis, and more resilient) are still fairly expensive to purchase new. However buying a name-brand Certified Refurbished computer from Dell, Lenovo, HP, or Apple can save you as much as 30-50 percent when compared to their new counterparts.
Many printer and copier companies have similar programs that offer savings as much as 50-75 percent over new counterparts. Best of all, most manufacturers offer extended warranties for no cost to put aside the fears the consumer is buying an inferior machine.
3. Go Paperless
It’s amazing the amount of paper that is generated in the real estate business. Some of my files are a thick as a Northern Virginia phonebook and it’s genuinely unnecessary. In this golden age of tech, going paperless (not less-paper) will save you money as well as increase your productivity. The savings comes from the cost of storage, savings on toner, paper, and related supplies.
Companies like Docusign and DotLoop offer solutions to help obtain e-signatures from clients on real estate contracts and Dropbox.com offers free to low-cost secure online storage for your files. For software to aid in the creation of PDF files, try Cute PDF Professional or Adobe Acrobat. If you can click, drag, and drop, you can go paperless. Now instead or printing, initialing, and faxing or scanning, you can simply email for authorization and then forward where necessary.
4. Google Apps for Business
Probably one of the best tools you many have never heard of is Google’s Apps for Business which includes a suite of software such like Gmail, Calendar, Docs, Sites, and more. Designed for teams and small businesses, Google uses your personal website domain to provide you email (with your domain name not gmail.com), personal and group calendars, online document creation and collaboration and more. For most users, it’s absolutely free however you can upgrade for more features if you desire.
I have been completely impressed with how well everything works given that it’s free. The calendar will sync with your smartphone automatically (no need to sync with a cable) and with the click of one button, I can see everyone on my team’s calendar at once. This makes scheduling events extremely easy. Plus, the gmail-powered email is the best web-based email as of now.
For larger teams or a corporate level, the free version gives you the ability to set up a intranet site to post documents, announcements, information, etc for your agents.
5. A Facebook and a Linkedin Account
When most people think of using social media for business, they believe they must have a fan page for their business. While a Fan Page is a great internet billboard, unless you are consistently providing something of value to your fans, don’t expect a huge following.
Instead, start first by connecting with past clients as well as old and current friends. We’re in the people business so get back into relationship with people who can help build your business over the next year and more. Then make sure you take your relationship offline through coffee, tweetups, and social gathers to make something meaningful for both parties.
Facebook and Linkedin are NOT places to mindlessly post your new listings but rather to build relationships. Just as you wouldn’t take a stack of listing flyers to the Chamber of Commerce meeting, you shouldn’t plaster your wall with your latest short sale.
Both services are free but Linkedin offers a membership fee in exchange for the ability to contact users outside of your sphere of influence.
Jonathan Osman is a broker and team leader of the Charlotte House Hunter Group with Keller Williams Realty in Charlotte, N.C. Connect with Jonathan via Facebook, Linkedin, Twitter or his Web site CharlotteHouseHunter.com.
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Tags: apps, computers, Jonathan Osman, phones, social networking, tech tools, technology
Thursday, October 7, 2010
Yakima Realtors
If you are in need of a Yakima Realtor, we have provided some links to some of Yakima's top Real Estate offices. Yakima's Realtors are among some of the top realtors in our state of Washington and they are always here ready to help buyers and sellers fulfill their dreams of owning their own home or selling their home in the Yakima Valley.
Yakima Rentals, Apartments and Homes for Rent - Realty Tours Northwest of Yakima
REALTY TOURS NORTHWEST provides VIDEO TOURS of Yakima homes for rent, apartments, duplexes, condominiums, homes for sale, commercial listings, vacation rentals and more. Wether you are a For Sale By Owner or a Realtor.....we can gain the MOST exposure to your Yakima County and surrounding area listings! We are located in Yakima Washington and we now have some new price packages to fit your budget.
Whistlin' Jack Lodge, Resort & Restaurant on Chinook Pass Scenic Byway
Visit Whistlin' Jack Lodge on Chinook Pass Washington to reserve a Cabin, Cottage or Bungalow.
Whistlin' Jack Lodge was originally built in 1931. Read the full history on their website
http://www.whistlinjacklodge.com - Just 27 Miles east of the Chinook Pass Scenic Byway summit along WA State Route 410 sets Whistlin' Jack Lodge & Resort. Built in 1931, the original lodge that served as a waypoint for weary travelers along the route was purchased by the Williams Family in 1957 and transformed to what has become a world class tradition in mountain hospitality.
The lodge that exists today was built around the original building and relics of the old historic lodge can still be found through-out the building today, including the old original natural stone fireplace found in the Fireside Lounge.
Whistlin' Jack Lodge today is a favorite getaway for those Mount Rainier/Chinook Pass area travelers and tourists looking for a Mountain Retreat which is centrally located on the Naches River between the summit of Chinook Pass and Yakima Washington.
Accomodations at the Lodge include:
* Cabin, Cottage and Bungalow Rentals
* 8 Unit Riverside Motel
* Northwest Cuisine Riverfront Dining
* Fireside Cafe & Lounge
* Premium Yakima Valley Wines
* Live Entertainment
* Banquet Room for Weddings, Business Conferences, Seminars, Reunions
* Unique Gifts, Souvenirs & Collectables
* 24-Hour Shell Gas Station
* Grocery Store
* Cliffdell Delicatessen
* Local Hiking Trails
* Local Camping
* Maps of the Chinook Pass area
Visit http://www.realtytoursnorthwest.com for information about the greater Yakima Valley Area and Video Tours of Homes for sale on Chinook Pass.
Tuesday, October 5, 2010
Local agents monitoring glut of real estate-owned homes | Yakima Herald-Republic
YAKIMA, Wash. -- Residents of Selah's outlying areas often drive by the all-brick exterior home on 1100 Selah Loop Road.
For two Sundays last month, those neighbors got to look inside the 1960s-era house that piqued their curiosity.
Most were in awe at how large that home was from the inside -- it's more than 4,100 square feet with four bedrooms, a finished basement and living areas.
"It just keeps going and going," said Lanny Lowe, 57, of Selah, who toured the house Sept. 26.
The Selah home is a real estate-owned home, or REO, a foreclosed home that a bank repossesses, usually after the home fails to sell during a trustee sale.
REOs have increased in Yakima County over the past few years.
Through August, there were 213 REOs in Yakima County in 2010, according to RealtyTrac, an Irvine, Calif., firm that tracks foreclosure trends. That is fewer than the 218 REOs during the same period in 2009, but well above the 61 REOs in 2008.
Banks may do nothing with the REOs or rent them out, but eventually the homes are put on the local real estate market.
"In the last week, I've had a real influx of (REO) listings," said Phil Barnes, an agent with Creekside Realty in Yakima.
The REOs come from all price ranges, not just the inexpensive ones.
"They're all over the county," said Lynda Hopkins, an agent for Yakima's Lakemont Real Estate who markets REOs properties, including the home in Selah. "There are expensive homes people can't afford."
Overall, Yakima County's real estate market has fared better than other parts of the United States, but the local real estate industry is still paying attention to the increase in REOs.
There are different theories on the cause of the increase.
One is that federal efforts, such as loan modification programs, created a delay of some homes going into foreclosure.
But those homes eventually went into foreclosure and created an additional influx of bank repossessions in the past few months.
Another theory is that foreclosures have increased, caused by everything from bad mortgage loans to a fallout from a higher number of people out of work.
In July, about 1.3 percent of mortgages for Yakima County homes were in foreclosure, compared with 0.99 percent at the beginning of 2010 and 1.03 percent in July 2009, according to CoreLogic, a Santa Ana, Calif., firm that provides consumer and financial data.
And a greater number of those foreclosures are failing to sell on the courthouse steps, leading to more bank repossessions.
Foreclosed homes are sold every Friday morning at the Yakima County Courthouse. The sale is done by firms working on behalf of a trustee, usually a bank or a company representing the bank.
In the past, about one out of every 15 Yakima County homes auctioned off would sell, said Dennis Copeland, owner of Legal Couriers Inc., a firm that posts foreclosure notices and conducts the trustee sales at the courthouse.
These days, it's more like one out of 20 homes, he said.
"The problem that I noticed just recently is that there is a lot of (foreclosed) properties where the deed of trust is from 2007, 2008, 2009," Copeland said. "There is no equity."
Often banks will collect price estimates from real estate brokers or home appraisers on local homes that are several months delinquent on mortgage payments. The bank uses them to decide how to sell the homes if they go into foreclosure and are repossessed, Barnes said.
Barnes said he's doing about 10 such price estimates a week as of late, compared to just one or two a few years ago.
For him, it's another indicator of more foreclosures and more bank repossessions in the county.
REOs and other foreclosed homes made up 9.3 percent of Yakima County's real estate sales for July, well below that of the national rate of 17.9 percent, according to Seattle-based real estate firm Zillow.com.
But some believe REOs may play a bigger role in a market that is starting to see a slowdown in housing activity.
In August, residential home sales dropped by 20.9 percent in dollar volume and 23.8 percent in the number of sales from August 2009, according to Headwaters-The Source, a Selah-based firm that tracks Yakima County real estate sales.
REOs create additional competition for an already-growing inventory of homes on the market.
As of the end of June, the supply of homes on the market in Yakima County was nine months, according to the Washington Center for Real Estate Research. The supply for a balanced market is usually five to seven months.
Bank owners have no emotional attachment or financial need to price it too high, said Kenny Nelson, broker of DK Bain Real Estate Inc. in Sunnyside.
The goal for these banks is to break even, he said.
Monthly median prices for bank-owned homes sold in Yakima County so far in 2010 have ranged from $59,000 to $119,250, according to Headwaters-The Source.
That range is much less than the monthly median price of homes overall, which ranged from $145,000 to $160,000.
Another issue is a reduction in potential buyers due to the expiration of two homebuyer tax credits -- $8,000 for first-time home buyers and $6,500 for repeat home buyers.
And there are even fewer buyers for homes that are in the higher-priced ranges. Homes that cost more than $250,000 have at least a year's supply, according to the Washington Center for Real Estate Research.
The home on Selah Loop Road was initially listed at $419,000 when it was put on the market more than four months ago. It did not even sell when the listed price dropped to $279,000.
"Not everyone needs 4,100 square feet or wants to pay $500 a month in property taxes," Hopkins said.
Fannie Mae, which currently owns the home, tried another tactic Friday to get the home sold: a private auction.
There were about 20 registered bids on the home, Hopkins said.
The auction company, Williams & Williams, would not reveal the final bid, stating that the information was proprietary between the seller and the prospective buyer once the auction concluded.
Despite the increase of foreclosures and REOs in Yakima County, other markets in the country are in worse shape.
The percentage of mortgages nationwide in foreclosure during July was 3.13 percent, more than double Yakima County's rate of 1.3 percent, according to CoreLogic.
"All of their performance numbers are very low relative to the U.S., and at those rates distressed properties will not have a large impact on the market," said Sam Khater, senior economist for CoreLogic.
Local agents believe there may not be enough REOs and foreclosed homes to create huge revenue declines locally. But they're watching to see if the increase is great enough to stall sales activity growth for several years, especially if high unemployment continues to be an issue.
"This isn't going to go away any time soon," Barnes said.
For more information go to:
zillow.com
corelogic.com
realtytrac.com* Mai Hoang can be reached at 509-577-7685 or mhoang@yakimaherald.com.
October 5, 2010 Today's Yakima Real Estate Market - Pricing Your Yakima Home For The Market
In markets such as this, it is not unusual for a home to have a market value less than the amount the owner purchased it for and has spent improving or maintaining it.
Not every dollar spent improving or maintaining a home will increase its market value. Improvements such as adding additional square footage or updating a kitchen or bathroom typically have a higher rate of return. Replacing old shingles or other maintenance projects will not necessarily increase the home's market value.
If you're thinking about making improvements to your home, contact your real estate agent as he or she can help you determine what project will give you the highest rate of return. And when you're ready to sell, your REALTOR® can help you determine the market value of your home, guide you as to how to price it, market the home, and guide you through the sale process.
Monday, October 4, 2010
October 4, 2010 Today's Yakima Real Estate Market - Commercial Crisis
Further Lane Securities Sr. Managing Director David Castillo on whether the commercial real-estate market is at risk of crumbling.
Sunday, October 3, 2010
Whistlin' Jack Lodge & Resort on Chinook Pass WA Video Tour - Realty Tours Northwest of Yakima Washington
http://www.whistlinjacklodge.com - Just 27 Miles east of the Chinook Pass Scenic Byway summit along WA State Route 410 sets Whistlin' Jack Lodge & Resort. Built in 1931, the original lodge that served as a waypoint for weary travelers along the route was purchased by the Williams Family in 1957 and transformed to what has become a world class tradition in mountain hospitality.
The lodge that exists today was built around the original building and relics of the old historic lodge can still be found through-out the building today, including the old original natural stone fireplace found in the Fireside Lounge.
Whistlin' Jack Lodge today is a favorite getaway for those Mount Rainier/Chinook Pass area travelers and tourists looking for a Mountain Retreat which is centrally located on the Naches River between the summit of Chinook Pass and Yakima Washington.
Accomodations at the Lodge include:
* Cabin, Cottage and Bungalow Rentals
* 8 Unit Riverside Motel
* Northwest Cuisine Riverfront Dining
* Fireside Cafe & Lounge
* Premium Yakima Valley Wines
* Live Entertainment
* Banquet Room for Weddings, Business Conferences, Seminars, Reunions
* Unique Gifts, Souvenirs & Collectables
* 24-Hour Shell Gas Station
* Grocery Store
* Cliffdell Delicatessen
Visit http://www.realtytoursnorthwest.com for information about the greater Yakima Valley Area and Video Tours of Homes for sale on Chinook Pass.
Saturday, October 2, 2010
October 2, 2010 Today's Yakima Real Estate Market - Foreclosure Fraud - Realty Tours Northwest of Yakima | Yakima WA Real Estate and Homes For Sale
This is Rep. Alan Grayson explaining the crisis of real estate foreclosure fraud and how it links to the entire securitization chain of Wall Street.
Friday, October 1, 2010
October 1, 2010 - Today's Yakima Real Estate Market
In the current real estate market, is it a good time to downsize and sell the family home?
What is the best season to sell a home?
Is it possible to make money when selling a home to downsize to a smaller residence?
Thursday, September 30, 2010
Will Real Estate Video Help U Sell Your Yakima Home?
The preceding real estate video tour has been active for about 3 months and has received over 2000 views and can be found all over the internet, in search engines everywhere for search terms related to Chinook Pass and Yakima Washington. The numbers are staggering to say the least. The video has also been used as the feature video on several real estate classified sites as well.
However.....does that mean that the house will certainly sell with those kind of numbers? Not necessarily. Selling a home in today's market....along with all the advanced tools at our
disposal like YouTube, Facebook, Twitter and such is only a little bit of "icing on the cake"
Location, Condition and Price are still the most important factor when it comes to getting your Real Estate sold.
The beauty behind the concept of real estate listings on video is in the concept that "people LOVE video" and a video opens the doors of a property listing.... 24-Hours-A-Day in ways that PHOTOS simply CANNOT. Therefor, any given real estate listing that has a video tour WILL receive double, triple, quadruple and often times 100X more exposure to MORE people than any other listing that DOES NOT have a video tour.
It is all about the NUMBERS.
MORE exposure = MORE buyers.
A professionally produced video tour engages the audience, and as a result...the video will end up being shared all over the world, thus it will end up being syndicated in ways that any traditional method of Real Estate Advertising will not.
Conclusion - In most cases and when done properly by a professional, a Real Estate listing that includes a video will have MORE PEOPLE seeing the inside of the home (just like being there) in 1 month....than 10 years if that same listing was on the market with traditional forms of marketing.
The math is simple.....and the future of real estate does not include print advertisement or simple photos.
I did a little research on the life- span of newspapers and telephone books and found some great articles from very reliable resources such as New York Times and CNN Money that talk about the demise of newspapers as we know them on my Yakima Real Estate Blog.
Today's Yakima Real Estate Market Pending Sales - Sept 30, 2010 - Realty Tours Northwest of Yakima | Yakima WA Real Estate and Homes For Sale
Why should I care about pending sales? What do they tell me about a real estate market. Home Encounter - Tampa's foremost real estate expert - takes 3 minutes to tell you why you should care about pending sales. We discuss what they tell you about a local real estate market and how you can make better decisions when you know about what sales are pending. Home Encounter has practices in Residential Sales, Consulting, Property Management and Investment Properties, and it cares about it's clients enough to publish these informative videos.
Wednesday, September 29, 2010
Will Real Estate Video Help U Sell Your Home? - Realty Tours Northwest of Yakima
The preceding real estate video tour has been active for about 3 months and has received over 2000 views and can be found all over the internet, in search engines everywhere for search terms related to Chinook Pass and Yakima Washington. The numbers are staggering to say the least. The video has also been used as the feature video on several real estate classified sites as well.
However.....does that mean that the house will certainly sell with those kind of numbers? Not necessarily. Selling a home in today's market....along with all the advanced tools at our
disposal like YouTube, Facebook, Twitter and such is only a little bit of "icing on the cake"
Location, Condition and Price are still the most important factor when it comes to getting your Real Estate sold.
The beauty behind the concept of real estate listings on video is in the concept that "people LOVE video" and a video opens the doors of a property listing.... 24-Hours-A-Day in ways that PHOTOS simply CANNOT. Therefor, any given real estate listing that has a video tour WILL receive double, triple, quadruple and often times 100X more exposure to MORE people than any other listing that DOES NOT have a video tour.
It is all about the NUMBERS.
MORE exposure = MORE buyers.
A professionally produced video tour engages the audience, and as a result...the video will end up being shared all over the world, thus it will end up being syndicated in ways that any traditional method of Real Estate Advertising will not.
Conclusion - In most cases and when done properly by a professional, a Real Estate listing that includes a video will have MORE PEOPLE seeing the inside of the home (just like being there) in 1 month....than 10 years if that same listing was on the market with traditional forms of marketing.
The math is simple.....and the future of real estate does not include print advertisement or simple photos.
I did a little research on the life- span of newspapers and telephone books and found some great articles from very reliable resources such as New York Times and CNN Money that talk about the demise of newspapers as we know them on my Yakima Real Estate Blog.
Today's Yakima Real Estate Market - Sept 29, 2010 - Realty Tours Northwest of Yakima
Equity Investments CEO Sam Zell discusses why he is optimistic about the current state of the real estate market.
Tuesday, September 28, 2010
Today's Yakima Real Estate Market - Sept 28, 2010 - Realty Tours Northwest of Yakima
Irv Tremblay discusses Market Tips for Agents, Buyers and Sellers (Part 2) on Ask The Expert on Newstalk Radio
Monday, September 27, 2010
Realty Tours Northwest on Facebook
via facebook.com
Follow us on Facebook to see the latest Real Estate Market trends, reports, video tours, listings and info about the Yakima Valley.
Today's Yakima Real Estate Market - September 27, 2010 - Realty Tours Northwest of Yakima | Yakima WA Real Estate and Homes For Sale
Irv Tremblay discusses Market Tips for Agents, Buyers and Sellers (Part 1) on Ask The Expert on Newstalk Radio
Sunday, September 26, 2010
Yakima, WA Real Estate & Homes for sale in HD - 170 Deer Cove Ln. Naches
By: Realty Tours Northwest of Yakima
Saturday, September 25, 2010
Today's Yakima Real Estate Market - Sept 26, 2010 - Realty Tours Northwest of Yakima
Charles Lieberman, chief investment officer at Advisors Capital Management LLC, and Demir Gjokaj, an analyst at Majestic
Research, talk about the outlook for the U.S. housing market. Lieberman and Gjokaj also discuss the U.S. economy and stocks. They talk with Roben Farzad on Bloomberg Television's "Taking Stock."
Friday, September 24, 2010
Monday, September 20, 2010
A reward for responsible homeowners - Sep. 7, 2010
A reward for responsible homeowners
By Allan Sloan, senior editor-at-largeSeptember 8, 2010: 11:33 AM ET
FORTUNE -- The government has bailed out Wall Street firms, giant banks, creditors of Fannie Mae and Freddie Mac -- and is trying to bail out people who've defaulted or are about to default on their mortgages. But let's say you're a hardworking family that has done nothing wrong except buy a home when the housing bubble was at its peak a few years ago. Your mortgage is now way underwater, but you're still making payments because you want to stay in your home -- and you're actually honorable. You're paying for everyone else's bailout, but because you have no equity in your house, you can't refinance to take advantage of the ultra-low mortgage rates that Uncle Sam's bailout strategy has produced. To use the technical term, you're being screwed.
Enter Keith Gumbinger, a leading mortgage expert, with an interesting proposal for how the government can help you, help the housing market, and even help whoever owns your mortgage. Gumbinger, a vice president at the HSH Associates mortgage consulting firm, wants the federal government to issue what he calls "value gap coverage." It would reduce your interest payments, reduce your incentive to walk away from your mortgage, and show that behaving well doesn't make you a sucker.
"This is for people who are underwater on their mortgages but still current on them and have every intention of remaining so, and hope to remain in their homes for the foreseeable future," says Gumbinger. "These people are being compelled to pick up the tab for reckless borrowers and failing banks, and get absolutely no help from anywhere for themselves. How about a reward for doing the right thing for a change?"
Let me show how this would work, using HSH numbers that I've rounded for simplicity's sake. Say you bought a house for $350,000 in July 2006 -- those were the days of 100% financing, so you borrowed $350,000 on a 30-year fixed-rate mortgage at 6.8%. The house is now worth $280,000, but your mortgage balance is $334,000. The current rate for a 30-year fixed-rate loan, if you could get one, is 4.7%.
Under Gumbinger's plan, you'd get a new $280,000 mortgage at 4.7%, and the government would guarantee the other $54,000, on which you'd pay 4.7% interest to the current mortgage holder. This would reduce your payments by $6,700 a year, or roughly 25%. Your mortgage holder wouldn't have to take a write-down, because the shortfall would be guaranteed by Uncle Sam. You get lower payments, preserve your credit rating, and save your pride by not becoming a deadbeat.
The government is probably on the hook, in one way or another, for some of your shortfall now. This way everyone gets breathing space for the home market to recover. The government's exposure would shrink over time as house prices begin to rise modestly (or so we hope) and your payments gradually reduce the principal on your loan. You wouldn't have any equity in your house until its market value exceeds the loan balance plus the government's guarantee. But then again, you don't have any equity now.
Gumbinger says there are many differences between his proposal and the government's latest mortgage relief effort, including the fact that the government's requires mortgage holders to take a writedown, and his doesn't. You can find his detailed plan, with the fees he proposes to cover costs right here.
Sure, this plan isn't perfect. Among other things, we'd have to make sure people didn't immediately sell their house, stick the government with the $54,000 bill, then buy another house with a low-down-payment FHA mortgage to reduce monthly payments and have all the equity upside.
But Gumbinger's idea strikes me as a better place to start than current restructuring programs, which sound great but somehow don't seem to work out.
How much would this cost the government? Who knows? But it has to be cheaper financially and socially than leaving millions of honorable homeowners at higher risk of foreclosure and forcing them to pay above-market rates on underwater loans.
First Published: September 7, 2010: 5:49 AM ET
via money.cnn.com
Thursday, September 16, 2010
2 Brand New Real Estate Developments - Realty Tours Northwest of Yakima
Two brand new developments are coming to the internet that will benefit both Real Estate Agents and Video Tour Service Providers which will ultimately provide a means to showcase a property via a video tour and generate more viewers for the listing.1. Google has acquired Quiksee
Quiksee allows users to upload interactive photo and video tours of real-world locations with geo tagged information and place them on online maps. Once the transition takes place, Google Maps will include the videos in their Street View browsing. The enhancement to Google Maps will be a great add-on feature for real estate listings as the viewer can get a great view of the property and surrounding neighborhood as well as the ability to now watch a video of the home's interior.
2. Twitter has announced "Split Screen"
Twitter will be unveiling a new user enhancement dubbed "SplitSreen" Users will now be able to view photos and videos on Twitter without leaving the TWITTER application. The new integration will help entice users to view more videos and photos on Twitter as they won't have to leave Twitter and stay on the site longer. This too will ultimately lead to more property views for those real estate listings that include video.
Wednesday, September 15, 2010
Home Prices Just Dropped In Most States And 8 Million Foreclosures Are About To Hit The Market
The small upward correction in home prices from multiple tax credit offerings died in July. Worse yet, inventory of homes for sale as well as shadow inventory both soared. 8 million foreclosure-bound homes have yet to hit the market according to Morgan Stanley.
Home Prices Drop in 36 States
CoreLogic reports Growing Number of Declining Markets Underscore Weakness in the Housing Market without Tax-Credit Support
CoreLogic Home Price Index Remained Flat in July
SANTA ANA, Calif., September 15, 2010 – CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its Home Price Index (HPI) that showed that home prices in the U.S. remained flat in July as transaction volumes continue to decline. This was the first time in five months that no year-over-year gains were reported. According to the CoreLogic HPI, national home prices, including distressed sales showed no change in July 2010 compared to July 2009. June 2010 HPI showed a 2.4 percent* year-over-year gain compared to June 2009.
- Empire State Manufacturing Activity Flattens; Huge Divergences Appear - What Does It Mean?
- Home Prices Drop in 36 States; Beazer Warns on Orders; 8 Million Foreclosure-Bound Homes to Hit the Market; Prices to Stagnate for a Decade
- Currency Intervention Madness; Japan Intervenes to Weaken the Yen; Selected Quotes
"Although home prices were flat nationally, the majority of states experienced price declines and price declines are spreading across more geographies relative to a few months ago. Home prices fell in 36 states in July, nearly twice the number in May and the highest since last November when national home prices were declining," said Mark Fleming, chief economist for CoreLogic.
Methodology
The CoreLogic HPI incorporates more than 30 years worth of repeat sales transactions, representing more than 55 million observations sourced from CoreLogic industry-leading property information and its securities and servicing databases. The CoreLogic HPI provides a multi-tier market evaluation based on price, time between sales, property type, loan type (conforming vs. nonconforming), and distressed sales. The CoreLogic HPI is a repeat-sales index that tracks increases and decreases in sales prices for the same homes over time, which provides a more accurate "constant-quality" view of pricing trends than basing analysis on all home sales. The CoreLogic HPI provides the most comprehensive set of monthly home price indices and median sales prices available covering 6,208 ZIP codes (58 percent of total U.S. population), 572 Core Based Statistical Areas (85 percent of total U.S. population) and 1,027 counties (82 percent of total U.S. population) located in all 50 states and the District of Columbia.
CoreLogic HPI Including Distressed Sales
See the above article for additional charts
Beazer Homes Warns on Orders
The Wall Street Journal reports Beazer Homes Warns of Order Miss
Beazer Homes USA Inc. said Wednesday it might miss order expectations for its fiscal-fourth quarter, as it also cut estimates for the year's land and development spending, reflecting the sector's weakness following the expiration of home-buyer tax credits.
Last month, Beazer reported that its fiscal third-quarter loss was little changed because of a prior-year gain, while it reported a 73% surge in closings as buyers raced to qualify for the tax credit. Orders fell 33%.
Inventory Soars
Bloomberg reports U.S. Home Prices Face Three-Year Drop as Supply Gains
The slide in U.S. home prices may have another three years to go as sellers add as many as 12 million more properties to the market.
Shadow inventory -- the supply of homes in default or foreclosure that may be offered for sale -- is preventing prices from bottoming after a 28 percent plunge from 2006, according to analysts from Moody’s Analytics Inc., Fannie Mae, Morgan Stanley and Barclays Plc. Those properties are in addition to houses that are vacant or that may soon be put on the market by owners.
“Whether it’s the sidelined, shadow or current inventory, the issue is there’s more supply than demand,” said Oliver Chang, a U.S. housing strategist with Morgan Stanley in San Francisco. “Once you reach a bottom, it will take three or four years for prices to begin to rise 1 or 2 percent a year.”
Sales of new and existing homes fell to the lowest levels on record in July as a federal tax credit for buyers expired and U.S.
Rising supply threatens to undermine government efforts to boost the housing market as homebuyers wait for better deals. Further price declines are necessary for a sustainable rebound as a stimulus-driven recovery falters, said Joshua Shapiro, chief U.S. economist of Maria Fiorini Ramirez Inc., a New York economic forecasting firm
There were 4 million homes listed with brokers for sale as of July. It would take a record 12.5 months for those properties to be sold at that month’s sales pace, according to the Chicago-based Realtors group [National Association of Realtors].
“The best thing that could happen is for prices to get to a level that clears the market,” said Shapiro, who predicts prices may fall another 10 percent to 15 percent. “Right now, buyers know it hasn’t hit bottom, so they’re sitting on the sidelines.”
About 2 million houses will be seized by lenders by the end of next year, according to Mark Zandi, chief economist of Moody’s Analytics in West Chester, Pennsylvania. He estimates prices will drop 5 percent by 2013.
Douglas Duncan, chief economist for Washington-based Fannie Mae, said in a Bloomberg Radio interview last week that 7 million U.S. homes are vacant or in the foreclosure process. Morgan Stanley’s Chang said the number of bank-owned and foreclosure-bound homes that have yet to hit the market is closer to 8 million.
Defaulted mortgages as of July took an average 469 days to reach foreclosure, up from 319 days in January 2009. That’s an indication lenders -- with the help of the government loan modification programs -- are delaying resolutions and preventing the market from flooding with distressed properties, said Herb Blecher, senior vice president for analytics at LPS.
“The efforts to date have been worthwhile,” Blecher said in a telephone interview from Denver. “They both helped borrowers stay in their homes and kept that supply of distressed properties on the market somewhat limited.”
I disagree with Herb Blecher. I see little advantage stretching this mess out for a decade, and that is what the government seems hell-bent on doing. Everyone wants the government to "do something". Unfortunately tax credits stimulated the production of new homes, ultimately adding to inventory. Prices need to fall to levels where there is genuine demand.
The short-term rise in the Case-Shiller home price index and the CoreLogic HPI was a mirage that will soon vanish in the reality of an inventory of 8 million homes that must eventually hit the market.
Lost Decade
About 2 million houses will be seized by lenders by the end of next year, according to Mark Zandi, chief economist of Moody’s Analytics in West Chester, Pennsylvania. He estimates prices will drop 5 percent by 2013.
After reaching bottom, prices will gain at the historic annual pace of 3 percent, requiring more than 10 years to return to their peak, he said.
Home Price Pressures
We are going to have structurally high unemployment for a decade.
The debt deflation unwind may take another 5 years or longer.
Downward pressures on wages still exist.
Credit conditions reached a secular peak of absurdity that will not occur again for multiple decades.
Retiring boomers hoping to downsize lifestyle will add to supply of upper end homes.
Student debt will inhibit family formation for years to come. Please see How Student Debt Wrecks Marriages, Inhibits Family Formation, and Delays the Housing Recovery for details.
Last Bubble Not Reblown
After the bottom is found, remember the axiom: the last bubble is not reblown for decades. Look at the Nasdaq, still off more than 50% from a decade ago.
The odds home prices return to their peak in 10 years is close to zero. Houses in bubble areas may never return to peak levels in existing owner's lifetimes. Zandi is way overoptimistic in his assessment of 3% annual appreciation after the bottom is found.
Price Stagnation
I expect small nominal increases after housing bottoms, but negative appreciation in real terms as inflation picks up in the second half of the decade. Yes, deflation will eventually end. Alternatively the US goes in and out of deflation for a decade (depending on how much the Fed and Congress acts to prevent a much needed bottom). Either way, look for price stagnation in one form or another.
Thus, if you have come to the conclusion there is no good reason to hold on to a deeply underwater home, nor any reason to rush into a home purchase at this time, you have reached the right conclusions.
Hyperinflation? Please be serious.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post ListMike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.
Home Prices Just Dropped In Most States And 8 Million Foreclosures Are About To Hit The Market
The small upward correction in home prices from multiple tax credit offerings died in July. Worse yet, inventory of homes for sale as well as shadow inventory both soared. 8 million foreclosure-bound homes have yet to hit the market according to Morgan Stanley.
Home Prices Drop in 36 States
CoreLogic reports Growing Number of Declining Markets Underscore Weakness in the Housing Market without Tax-Credit Support
CoreLogic Home Price Index Remained Flat in July
SANTA ANA, Calif., September 15, 2010 – CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its Home Price Index (HPI) that showed that home prices in the U.S. remained flat in July as transaction volumes continue to decline. This was the first time in five months that no year-over-year gains were reported. According to the CoreLogic HPI, national home prices, including distressed sales showed no change in July 2010 compared to July 2009. June 2010 HPI showed a 2.4 percent* year-over-year gain compared to June 2009.
- Empire State Manufacturing Activity Flattens; Huge Divergences Appear - What Does It Mean?
- Home Prices Drop in 36 States; Beazer Warns on Orders; 8 Million Foreclosure-Bound Homes to Hit the Market; Prices to Stagnate for a Decade
- Currency Intervention Madness; Japan Intervenes to Weaken the Yen; Selected Quotes
"Although home prices were flat nationally, the majority of states experienced price declines and price declines are spreading across more geographies relative to a few months ago. Home prices fell in 36 states in July, nearly twice the number in May and the highest since last November when national home prices were declining," said Mark Fleming, chief economist for CoreLogic.
Methodology
The CoreLogic HPI incorporates more than 30 years worth of repeat sales transactions, representing more than 55 million observations sourced from CoreLogic industry-leading property information and its securities and servicing databases. The CoreLogic HPI provides a multi-tier market evaluation based on price, time between sales, property type, loan type (conforming vs. nonconforming), and distressed sales. The CoreLogic HPI is a repeat-sales index that tracks increases and decreases in sales prices for the same homes over time, which provides a more accurate "constant-quality" view of pricing trends than basing analysis on all home sales. The CoreLogic HPI provides the most comprehensive set of monthly home price indices and median sales prices available covering 6,208 ZIP codes (58 percent of total U.S. population), 572 Core Based Statistical Areas (85 percent of total U.S. population) and 1,027 counties (82 percent of total U.S. population) located in all 50 states and the District of Columbia.
CoreLogic HPI Including Distressed Sales
See the above article for additional charts
Beazer Homes Warns on Orders
The Wall Street Journal reports Beazer Homes Warns of Order Miss
Beazer Homes USA Inc. said Wednesday it might miss order expectations for its fiscal-fourth quarter, as it also cut estimates for the year's land and development spending, reflecting the sector's weakness following the expiration of home-buyer tax credits.
Last month, Beazer reported that its fiscal third-quarter loss was little changed because of a prior-year gain, while it reported a 73% surge in closings as buyers raced to qualify for the tax credit. Orders fell 33%.
Inventory Soars
Bloomberg reports U.S. Home Prices Face Three-Year Drop as Supply Gains
The slide in U.S. home prices may have another three years to go as sellers add as many as 12 million more properties to the market.
Shadow inventory -- the supply of homes in default or foreclosure that may be offered for sale -- is preventing prices from bottoming after a 28 percent plunge from 2006, according to analysts from Moody’s Analytics Inc., Fannie Mae, Morgan Stanley and Barclays Plc. Those properties are in addition to houses that are vacant or that may soon be put on the market by owners.
“Whether it’s the sidelined, shadow or current inventory, the issue is there’s more supply than demand,” said Oliver Chang, a U.S. housing strategist with Morgan Stanley in San Francisco. “Once you reach a bottom, it will take three or four years for prices to begin to rise 1 or 2 percent a year.”
Sales of new and existing homes fell to the lowest levels on record in July as a federal tax credit for buyers expired and U.S.
Rising supply threatens to undermine government efforts to boost the housing market as homebuyers wait for better deals. Further price declines are necessary for a sustainable rebound as a stimulus-driven recovery falters, said Joshua Shapiro, chief U.S. economist of Maria Fiorini Ramirez Inc., a New York economic forecasting firm
There were 4 million homes listed with brokers for sale as of July. It would take a record 12.5 months for those properties to be sold at that month’s sales pace, according to the Chicago-based Realtors group [National Association of Realtors].
“The best thing that could happen is for prices to get to a level that clears the market,” said Shapiro, who predicts prices may fall another 10 percent to 15 percent. “Right now, buyers know it hasn’t hit bottom, so they’re sitting on the sidelines.”
About 2 million houses will be seized by lenders by the end of next year, according to Mark Zandi, chief economist of Moody’s Analytics in West Chester, Pennsylvania. He estimates prices will drop 5 percent by 2013.
Douglas Duncan, chief economist for Washington-based Fannie Mae, said in a Bloomberg Radio interview last week that 7 million U.S. homes are vacant or in the foreclosure process. Morgan Stanley’s Chang said the number of bank-owned and foreclosure-bound homes that have yet to hit the market is closer to 8 million.
Defaulted mortgages as of July took an average 469 days to reach foreclosure, up from 319 days in January 2009. That’s an indication lenders -- with the help of the government loan modification programs -- are delaying resolutions and preventing the market from flooding with distressed properties, said Herb Blecher, senior vice president for analytics at LPS.
“The efforts to date have been worthwhile,” Blecher said in a telephone interview from Denver. “They both helped borrowers stay in their homes and kept that supply of distressed properties on the market somewhat limited.”
I disagree with Herb Blecher. I see little advantage stretching this mess out for a decade, and that is what the government seems hell-bent on doing. Everyone wants the government to "do something". Unfortunately tax credits stimulated the production of new homes, ultimately adding to inventory. Prices need to fall to levels where there is genuine demand.
The short-term rise in the Case-Shiller home price index and the CoreLogic HPI was a mirage that will soon vanish in the reality of an inventory of 8 million homes that must eventually hit the market.
Lost Decade
About 2 million houses will be seized by lenders by the end of next year, according to Mark Zandi, chief economist of Moody’s Analytics in West Chester, Pennsylvania. He estimates prices will drop 5 percent by 2013.
After reaching bottom, prices will gain at the historic annual pace of 3 percent, requiring more than 10 years to return to their peak, he said.
Home Price Pressures
We are going to have structurally high unemployment for a decade.
The debt deflation unwind may take another 5 years or longer.
Downward pressures on wages still exist.
Credit conditions reached a secular peak of absurdity that will not occur again for multiple decades.
Retiring boomers hoping to downsize lifestyle will add to supply of upper end homes.
Student debt will inhibit family formation for years to come. Please see How Student Debt Wrecks Marriages, Inhibits Family Formation, and Delays the Housing Recovery for details.
Last Bubble Not Reblown
After the bottom is found, remember the axiom: the last bubble is not reblown for decades. Look at the Nasdaq, still off more than 50% from a decade ago.
The odds home prices return to their peak in 10 years is close to zero. Houses in bubble areas may never return to peak levels in existing owner's lifetimes. Zandi is way overoptimistic in his assessment of 3% annual appreciation after the bottom is found.
Price Stagnation
I expect small nominal increases after housing bottoms, but negative appreciation in real terms as inflation picks up in the second half of the decade. Yes, deflation will eventually end. Alternatively the US goes in and out of deflation for a decade (depending on how much the Fed and Congress acts to prevent a much needed bottom). Either way, look for price stagnation in one form or another.
Thus, if you have come to the conclusion there is no good reason to hold on to a deeply underwater home, nor any reason to rush into a home purchase at this time, you have reached the right conclusions.
Hyperinflation? Please be serious.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post ListMike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.
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