Gary McNinch Realtor Renton WA Real Estate

On A Monthly Basis, Home Values Look Better Than Press-Reported Annual Figures

Each month, researchers measure home values in 20 large U.S. cities, then compile their findings in a report called the Case-Shiller Index. It's a popular measurement of housing health across the country, but it's far from perfect.

As 3 examples:

1. It gives more weight to expensive homes than inexpensive ones
2. Its sample set includes just 37 states of 50 states
3. Real estate isn't a "national" market -- it's local (We preach this over and over, that is why you must contact a Renton Realtor for neighborhood info)

All that said, however, the data is still important. The Case-Shiller Index helps identify broader trends in housing and it's widely believed that the economy won't recover until the sector starts to stabilize.

We may be at that recovery point now.

Despite newspaper headlines blaring about 19 percent drops from March 2008, the month-to-month values appear to be stabilizing and the latter is the more important development. 15 of the 20 markets covered by Case-Shiller either improved, stayed flat, or declined by 0.2 percent or less.

Versus 2008, the rate of speed at which home values are falling is slowing.

Furthermore, because the Case-Shiller Index is on a 2-month delay, it doesn't account for all of this year's Spring Buyers, or first-timers taking the $8,000 first-time homebuyer tax credit.

Two months don't make a trend, but if Case-Shiller Index continues to report similar data for April and May, it could be the signal that housing finally bottomed. And a national bottom will have a direct effect on our local market.

My home website is www.RentonHomeFinder.com My twitter handle @RentonHomeFinde My facebook page is Gary McNinch on Facebook My Active Rain website is Gary McNinch Team on ActiveRain Gary McNinch Team Realtor Renton WA Real Estate Keller Williams Realty Renton WA. Call us 206-696-2329, email Gary@GaryMcNinch.com tweet us, text us, or send us a snail mail. We like to hear from our many satisfied clients.

NO YOU CAN NOT USE THE $8000 FIRST TIME BUYER TAX CREDIT FOR YOUR DOWNPAYMENT!

 

Well apparently the left hand doesn't know what the right hand is doing, read on... (sheesh the government did it again) .....

On Tuesday May 12, 2009, I posted about the HUD Secretary making the announcement that the $8000 first time home buyer tax credit could be used as a down payment.

For a little historical perspective, I spent years working in the State Government and know how politics works and usually I don't spout off about a new program until it is for sure in place. HOWEVER, I made an error. Shame on me, I figured if the HUD Secretary made an announcement he would have already checked with his Boss President Obama. I mean they sit in the same cabinet room, and the HUD Secretary along with the Treasury Secretary are supposed to be the policy makers for the President on Housing and Finance. NOT!!!!!

Apparently the Secretary jumped the gun. NO, YOU CAN NOT USE THE $8000 TAX CREDIT AS A DOWN PAYMENT. If I got your hopes up, well my error, and when I make a mistake I take responsibility. That being said, it is a great time to buy a new home. Lots of inventory, great priced properties, lowest interest rates in recent history.

So even though I made the mistake of thinking one of the TOP TEN CABINET government officials had worked out the issues and probably gotten everyone's approval BEFORE he announced the program, IT IS STILL A GREAT TIME TO BUY A RENTON HOME, LET ME SAY THIS AGAIN, IT IS STILL A GREAT TIME TO BUY A RENTON HOME. give me a call, tweet, text or even send an email.

I have several great loan officers that know the programs available to get you in a home now. And remember (unless the government changes this too?!?1!?) you have to close the purchase before December 1, 2009 to get the $8000 rebate. Call the Gary McNinch Team, Renton WA Realtor, to buy a Renton home or townhome, gary@garymcninch.com tweet me @rentonhomefinde or search the mls on my website map www.RentonHomeFinder.com Thanks, I'm done burning up and ranting about the Administration and the smoke is not coming out my ears anymore now.

Short and sweet try this one on for size. Twitter and Google on the same page. Twoozle. www.browsys.com/twoogle

My home website is www.RentonHomeFinder.com

My twitter handle (is that old cb radio talk??) @RentonHomeFinde

My facebook page is Gary McNinch on Facebook

I do all this to connect with people I enjoy, those I haven't seen in years and those I hope to meet. Any my business is to help these people buy and sell homes in Seattle and Renton. Great business to own, great way to help invest in their future, and lots of fun too.

Gary McNinch Team Realtor Renton WA Real Estate Keller Williams Realty Renton WA. Call us 206-696-2329 email easy Gary@GaryMcNinch.com tweet us, text us, or send us a snail mail. We like our clients.

Well here I am going along telling the story about our great office and how we helped a family here. And I look up and 100 Posts and 40,000 Points on AR. Good stuff in 3's.

Here is the great RED DAY Post about the giving hearts and muscles of the Renton Keller Williams Realtors.

Life is a gift, unwrap every day.