Tuesday, July 5, 2011

Celebrating America's History of Home Ownership

REALTOR® Magazine's Daily Real Estate News  |  July 4, 2011  
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Celebrating America's History of Home Ownership
The ability to buy, sell and own property has defined our nation throughout its history, and as the U.S. prepares to celebrate its 235 birthday, Americans continue to reaffirm their support of and aspirations toward home ownership.

“For over 100 years, REALTORS® have helped bring families home,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “There’s a reason why home ownership is called the American Dream – it’s part of our collective history and an essential part of building our nation’s future, as well.”

Numerous studies have shown the value Americans place in home ownership. According to the 2010 NAR Profile of Home Buyers and Sellers, first-time buyers most often cite the desire to own a home as the primary reason for their recent home purchase. Eighty-five percent of all recent home buyers consider a home purchase a solid investment, and 76 percent of them believe owning a home is as good as or better than an investment in stocks.

Earlier this week, a New York Times/CBS News poll reported that nearly nine in 10 Americans say home ownership is an important part of the American Dream. In a recent National Association of Home Builders survey, 73 percent of respondents said they believe the federal government should provide tax incentives to promote home ownership.

“Owning a home has long-standing government support in this country,” said Phipps. “Historically, lawmakers have understood the value of homeownership in fostering communities, creating social stability, and building wealth over the long term. In fact, Franklin Delano Roosevelt said, ‘A nation of home owners is unconquerable.’

“The mortgage interest deduction was introduced as part of the federal tax code nearly a century ago, and the Federal Housing Administration, Federal Home Loan Banks, and Fannie Mae were all created during the worst economic crisis our country ever faced in the Great Depression.”

Studies also demonstrate tangible social benefits to home ownership. The NAR report, Social Benefits of Homeownership and Stable Housing, showed that home owners are more active in their communities, benefit from improved education opportunities, and report higher levels of self-esteem and happiness when compared to renters. The U.S. Census Bureau reports that owners do not move as frequently as renters, providing more neighborhood stability. In turn, involvement in community quality-of-life issues helps prevent crime, improve childhood education and support neighborhood upkeep.

“As families across the country gather this weekend to celebrate our nation’s birthday, REALTORS® will continue to work to insure that this and future generations have the opportunity to pursue their dreams of owning a home,” said Phipps.

Source: NAR

Thursday, June 30, 2011

Will Rural States Lead a Housing Recovery?

REALTOR® Magazine's Daily Real Estate News | June 30, 2011

Will Rural States Lead a Housing Recovery?

A recovery in the housing market is already taking hold in several rural states, the USA Today reports.

North Dakota, South Dakota, Iowa, and Alaska weathered the collapse of the housing market better than the majority of states. These states’ economies boast some of the highest employment rates with economies that are dependent on stable industries like energy, industrial, and agricultural sectors.

Many small Midwestern states also are seeing a recovery in their housing markets, Jonathan Smoke, executive director for research for Housing IntelligencePro, told USA Today.

Here are some more signs that the rural states are leading a housing recovery:

States with the strongest rebound in non-distressed home sales: North Dakota, Iowa, and Wyoming have seen the strongest rebound in numbers of non-distressed home sales, according to a study by Housing IntelligencePro, which tracks real estate in 800 markets nationwide. Nearly every state saw sales decline from 2006 (the housing peak in most parts of the country) to March of this year, except for North Dakota. Sales there actually rose in that period.

Largest increases in price per square foot: Oklahoma and Nebraska saw the largest increases in prices per square foot for non-distressed homes. Oklahoma boasted a 17 percent increase while Nebraska saw a 12 percent jump in price per square foot, according to the Housing IntelligencePro study.

Fewest delinquent loans: Many of the rural states are also boasting the fewest delinquent loans, which usually equates to fewer foreclosures. The states with the lowest percentage of delinquent loans or those in foreclosure are Montana, Wyoming, Arkansas, South Dakota, and North Dakota, according to Lender Processing Services.

Source: “Housing Turning Around in Spots; Recovery’s Afoot in Several Rural States,” USA Today (June 30, 2011)

Wednesday, February 9, 2011

Home Show Hits the Swiftel Center February 12th & 13th!

The 21st annual Brookings Regional Builders Association Home Show comes to the Swiftel Center in Brookings, SD this Saturday and Sunday, February 12th and 13th.

The two-day event will be FREE to the public!  Come check out the great home related products and services available throughout the Brookings area and local businesses.  Representatives from the local businesses and service providers will be available in their booths with information pertaining to their products and/or services.

Looking for some home related How-to's?  Attend one of the many seminars to become more informed on a wide array of  topics.

For more information please visit the Brookings Regional Builders Association's website here

For Best Choice Real Estate and Brookings4Sale.com this is REALTOR® Justin Fjeldos saying, "See you at the Home Show!"
BEST CHOICE REAL ESTATE - (800) 788-8323