Your REALTOR:
Bonnie Fagoh
January 2005
Buyin' or Sellin'....Call Bonnie Helen! (Fagoh)(813) 390-7606
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Housing Is The New Economy Outpacing the flaccid, once technology-driven stock sector as an investment tool, the more potent housing market has hammered home its position as a cornerstone of the economy's foundation -- and it appears to have much more staying power. Consumer spending, as everyone knows, is the real petrol that powers the economic engine and housing wealth is proving to be a stouter grade of fuel than stock market investments. Housing and all its related transactions -- purchasing, furnishing, maintaining, improving and investments -- accounted for 23.1 percent of Gross
Mortgage Rates U.S. averages as of December 29, 2004:30 yr. fixed: 5.81%15 yr. fixed: 5.23%1 yr. adj: 4.19%30 yr. jumbo: 6.98%-->
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Domestic Product in 2003 and over the past 50 years that figure has been as high as 25 percent. Consumers spend about five-and-a-half cents out of every dollar increase in
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Wondering What Your Home Is Worth?Let me show you.
Why Broker Advice Will Become More Valuable One of the great assumptions made by many in real estate is that prices are like the morning sun, they'll always rise. You see this premise repeatedly and with some logic: Figures from the National Association of Realtors show that cash prices paid for existing homes have risen every year since 1968. However, before getting giddy about such results it's good to remember several points: While real estate prices may have risen in cash terms, they may not have risen as fast as inflation for a given year. This means the value of real estate, as measured in terms of what the dollar can buy, actually declined in some years. Although prices nationwide may have risen generally, that does not mean prices in every state, city, hamlet, and burg also rose. In those cases where values have fallen, declines are also understated because they do not reflect the reduced buying power of dollars eroded by inflation.
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U.S. Home Value Appreciation Rate Breaks Record America's home value appreciation rate is hot, hot, hot -- hotter than any time in nearly three decades, according to the latest federal statistical study. Though most housing and mortgage market economists had forecast a steady slowing of appreciation rates for 2004, home values have instead accelerated. The home price inflation rate hit a 25-year high of 12.97 percent in the third quarter of 2004, measured against the third quarter of 2003. But 12.97 percent barely hints at how torrid the housing inflation rate really is, said the Office of Federal Housing Enterprise Oversight (OFHEO), the agency that tracks home price movements in more than 250 metropolitan and rural markets. OFHEO's database sample comprises over 28.8 million repeat sales and refinancings on existing single-family properties spread across the country. Since the houses were all financed or refinanced through Fannie Mae or Freddie Mac, OFHEO has direct access to the properties' selling prices and appraisals. The annualized quarterly rate for the country as a whole during the third quarter was 18.48 percent -- also the highest recorded by the Home Price Index in its 29 years of existence.
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Electronic Payments, Benefits Increase The number of electronic payments has surpassed the number of check payments for the first time in the nation and consumers -- along with trees -- are reaping benefits. The Federal Reserve says electronic payment transactions totaled 44.5 billion in 2003. The number of checks paid totaled 36.7 million. In 2000, the last time the Fed checked the numbers, checks were ahead totaling 41.9 billion, compared to 30.6 billion for electronic payments. The "2004 Federal Reserve Payments Study" also found: Check payments, at $39.3 trillion, remained the leader in dollar amounts. Electronic payments equaled $27.4 trillion in 2003, but that's due to change in a few years.
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Daily News and Advice -->Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
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Bonnie Fagoh E-mail: bonniefagoh@century21beggins.comWeb: http://WWW.TAMPACOASTALHOMES.COM Cell: 813-390-7606
Century 21 Beggins Enterprises813-390-7606 6542 U. S. Hwy. 41 N.Apollo Beach, FL 33572
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