Marlene Hasz\’s Blog

Here’s a few excerpts from an interesting article out of today’s Rocky Mountain News  regarding our economic recovery.   But keep in mind that interest rates are still at a historic low which makes it a great time to buy…The Denver Post by Aldo Svaldi…One investment offical sees a “square root” slog with the U.S. for years.   William Greiner, President of Scout Investment Advisors sees a shift to a “W” shaped double dipped rebound  followed by an extended period of below-average growth.   He said that monetary and fiscal policies globally remain supportive enough to avoid another recession.   An aging and less productive population and the heavy credit burden that remains from yesterday’s consumption, however will drag on the U.S. economy for years to come, he predicts.   Two percent  real GDP growth will keep pace with U.S. population growth of  0.89 percent a year.   But it won’t leave much to form capital, fund research and development, and improve living  standards.   Since  World War II, the country has grown fast enough to double living standards every 29 years–translating into bigger homes, more cars and consumer goods, and more trips and meals out than previous generations enjoyed.   My kids may  see a higher standard of living, but it  probably won’t be like the difference I saw from my parents, Greiner said.    

Last year at this time, the 30-year fixed rate mortgage averaged 6.09 percent. This week the the fixed rate mortgage averaged 5.04 percent. The 15- year fixed rate mortgage this week averaged 4.46 percent. This is the lowest 15-year fixed  rate mortgage  since it’s tracking in 1991.

 Marlene

Forbes Magazine Real Estate:   10 Best Cities for a Housing Recovery

1. Miami-Ft Lauderdale, Fla.   2. Lincoln, Neb.   3.   Colorado Springs. Colo.   4.   Salem, Ore.   5. San luis Obispo, Calif.   6.   Brementon, Wash.   7.   Denver, Colo.   8.   Redding Calif.   9.   Santa Barbara, Calif.   10.   San Jose, Calif.    

Good News, Colorado has two cities on the list.   Now is a great time to become a home owner, prices are  low, tax credits available, inventory up, especially in the move up catagory.  

Marlene

Forbes Magazine Real Estate:   10 Best Cities for a Housing Recovery

1. Miami-Ft Lauderdale, Fla.   2. Lincoln, Neb.   3.   Colorado Springs. Colo.   4.   Salem, Ore.   5. San luis Obispo, Calif.   6.   Brementon, Wash.   7.   Denver, Colo.   8.   Redding Calif.   9.   Santa Barbara, Calif.   10.   San Jose, Calif.    

Good News, Colorado has two cities on the list.   Now is a great time to become a home owner, prices are  low, tax credits available, inventory up, especially in the move up catagory.  

Growing up in the fifties, we were fascinated with the future.   I recall the “The Home of Tomorrow.”    Homes were spacious, light, bright with cook-top built in. Imagine that, but the reality was that new homes were less than 1,000 square feet, one bath, maybe a one car garage and few frills.  

So here we are in the future once imagined. No robot vacuuming the floor, SUVs bigger than the 1960 Lincoln Continental Mark V, and our homes are called “McMansions”, swelling from 950 square feet to about 2,400.   Many homes are 6,000 square feet and up.

The ultimate status symbol,  but a symbol of excess and an enormous carbon footprint.   Most homes built in the last 20 years are bigger than they really need to be. They consume too many resources to create materials, the building process has too much negative impact on the surrounding environment, they require too much energy to occupy and do not guarantee happiness.  

There is already a shift away from building single family suburban homes in favor of multifamily housing. A big effort to create more pedestrial friendly communities. Marlene

More is Less!   The average sales price for a single-family homes smaller than 910 sq ft increased 14% in May-August compared with the same period a year ago.   The average price for homes larger than 2,875 sq ft declined by the same amount.   Smaller houses got beaten up up hard by the foreclosure boom, but are now rebounding. First time buyers are competing with investors and competing with themselves for remodeled properties.   High-end neighborhoods and expensive homes are still seeing declining prices.   Certainly now is a great time to MOVE UP.   Marlene Hasz

There are lots of homes to choose from now. A large supply of homes favors buyers, sellers may consider concessions.   $8,000 tax credit for first time buyers, must close by November 30, 2009.   Home prices have dropped making most properties more affordable.   Interest rates are low, albeit qualifying is more difficult.

There is lots of high-end inventory available.   If you have been considering a move up, now is the time.   Check out the inventory, it is astounding.   Fix and Flips are difficult to find, this inventory has  greatly diminished.  

It’s easy to check available property on my Wed Site www.marlenehasz.com.   It has access to MLS, IDX, and many other sites.  

I continue to believe that land, or real property is the best and soundest investment anyone can  make.  

Marlene

Denver is still up  over the national rate of  negative equity yet  Colorado’s market is still projected to recover sooner than the rest of the country. Homebuilders have seen a jump in  sales this August which they haven’t seen since June of 2008!   What information would you like to see in my blog?   Do you have questions about the market etc?   Contact me with question, for information.   Marlene Hasz