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George Mills

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New Home Sales a Solid Increase

05-06-10
George Mills
How fantastic to see a solid increase in home sales and a 27 percent increase is a very good indication that it may stick around. All though the effect did not influence an increase in home values if sales continue to increase and inventory depletes we could see prices stabilize. Sales of new homes rose 27 percent in March compared to February, the U.S. Commerce Department announced Friday. It was the largest monthly increase since April 1963, when sales jumped 31.2 percent. In addition, the National Association of REALTORS® reported last week that sales of previously owned homes rose 6.8 percent. Economists attribute the figures to buyers taking advantage of the $8,000 tax credit scheduled to expire at the end of this month. “In simple terms, housing is a bargain again, and buyers are responding,” Michael D. Larson, a real estate and interest rate analyst at Weiss Research, wrote in a research note. “That is unambiguously good news for the market going forward.” http://bit.ly/aL6bol
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Is Recession ending in 2010, In North Carolina?

03-22-10
George Mills

All indications is showing that real estate is improving. I'm seeing my web site enjoying more activity, the phone is ringing and the experts seem to think the economy is going to enjoy an upswing in North Carolina. I hope this is true in other areas as it will help us all.

Is Recession ending in 2010, In North Carolina? The N.C. economy should grow 3.5 percent in 2010, the first year of growth following two years of decline. Seven of the state’s 11 economic sectors are forecast to see output increases during the year. The sectors with the strongest growth prospects are construction, with a projected real increase of 7.2 percent; services, up 7.1 percent; finance, insurance and real estate, with a gain of 5.2 percent; government, up 4.8 percent; and retail trade, with a projected real increase of 4 percent. http://bit.ly/deZ79y

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Homeowners to Sell at a Loss and get Paid!

03-09-10
George Mills
The Obama administration has been working to keep defaulting owners in their homes and now paying some of them to leave. This new program starting in April, will allow owners to sell for less than they owe and will give them cash to speed them on their way, is one of the administration’s most aggressive attempts to grapple with a problem that has defied solutions. I think there will be many loop holes to look at here. For example the home owner takes out a second loan goes on a vacation, pays off other depts and then goes to a Short Sale. http://bit.ly/aL6bol
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Foreclosures are the way!

02-16-10
George Mills
It is estimated that only 1/3 of the houses which are going to be foreclosed on in the US have occurred. That leaves 2/3 of the foreclosures yet to take place. It is doubtful whether mortgage companies will be able to accumulate a massive amount of houses; therefore, short sales will be the future market in real estate. So it would seem the Brokers that are willing to further their education will be able to serve their clients better about foreclosures.
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IS IT REALLY GETTNG BETTER?

02-01-10
George Mills
I believe these are all good signs and will be setting a good foundation for an upswing in real estate. Once unemployment starts going down we will be well on out way. The United States economy grew at its fastest pace in years at the end of 2009, even as businesses resisted hiring and continued to do more with less. In addition, the growth rate was the fastest since the third quarter of 2003, when the economy grew at a rate of 6.9 percent. Gross domestic product (G.D.P.) is equal to the market value of goods and services produced by labor and property in the United States, regardless of nationality. http://bit.ly/7dxpJX
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