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Spring Housing Sales were brisk, but the season too short, say local Realtors in California.

Now that Memorial Day has passed, and graduations are finishing up, we are entering the doldrums of Summer, which while not as seasonally depressed for real estate sales as the winter months, is still not on par with the selling and buying flurry we have just come out of. I recently found an excellent article on the housing market, the continued economic stagnation (Read Triple-Dip Recession) and the long lasting effects our high unemployment, massive debt, deflated home values and underwater mortgages is having on the American Family and the American Marriage.
I have reposted this article from DivorceRate2011.com, and believe you will find some of it if not all very interesting:
"With the seasonal high in the real estate market coming to an end, and the economy no better that it was a year ago for most Americans, the flurry of divorce filings that were funded by the cash proceeds of couples who sold their homes and are buying their way out of a bad marriage is coming to a end for 2011.
Real Estate sales peak in the spring, and then taper off with Graduations, Memorial Day trips and as the Summer drags on and people become focused on vacations, home improvement and the numerous distractions of the long hot summer days. And there has been a long pent up desire for couples to get divorced, fueled by the increase in financial pressures on marriages in this economy, the now "triple dip" Recession! With so many American's under such heavy financial burden and debt, the stress of keeping a marriage and family together is more than most can handle. The problem is that it is this same financial stress that is killing the marriage that is keeping the couples from filing for a divorce. Simply put - they cannot afford the divorce lawyers, attorneys and the two households. Hell, most can't afford the one miserable household they are in!
After surviving a lackluster Holiday season, there was much anticipation and media supporting the current political agenda that recovery was solid and financial miracles were about to occur. And we all know that has not happened. The Real Estate market is still miserably slow, with inventory levels quoted by industry "Outsiders" as hovering around the 9 month levels (That means that the number of homes offered for sale, with the current rate of sale, would take about 9 months to sell them all). The healthy figure used for comparison is around 6 months inventory. Sadly, these latest figures DO NOT ACCOUNT for the SHADOW INVENTORY, such as pending foreclosures, short sales, REO's and other "Off the books" real estate that is just sitting in inventory, not being actively marketed or listed, and waiting for the bull-dozer of the Miraculous Recovery we have all been promised by Obama!
In reality, there are at least 36 months of housing inventory and the buyers are few and far between. In fact, within the next 12 months, over 50% of all home sales in America will be short sales. And according to Core Logic, that projection may be conservative in some states. Some of the worst hit states will suffer even more, with over half of all home sales in Michigan (62.8%), Nevada (60.3%), and Arizona (51.5%) being distressed sales - Foreclosures, Short Sales or REO's.
Rounding out the top 10 states for distressed home sales were California, Utah, Idaho, Georgia, Florida, Colorado, and Hawaii.
So how does the real estate market effect the divorce rate? Simple. Divorce filings were up with the housing market, because couples were able to remove one of the factors keeping them from filing for divorce - their home and or mortgage. IF, upon selling their home, a married couple was able to realize a profit, an abnormally high percentage of them are using part of those proceeds to file for divorce.
And now that the seasonally adjusted REAL ESTATE SELLING AND BUYING high months are behind us, we are seeing divorce filings taper off. But make no mistake, the demand is still there, simmering just below the flotsam of financial decay and lost consumer confidence that has a stranglehold on American families, doubting that there is any real recovery coming anytime soon.
Spring Housing Sales were brisk, but the season too short, say local Realtors in California.
Now that Memorial Day has passed, and graduations are finishing up, we are entering the doldrums of Summer, which while not as seasonally depressed for real estate sales as the winter months, is still not on par with the [...]
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Recovery in the housing market continues to stumble along like a drunken sailer despite efforts of local and national media trying to sell a jaded American public on the “recovery”. Clearly, if you own a home… you know that the value of your asset has not made any magic increase in almost 7 years. [...]
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As predicted, the increase in short sales and foreclosures is bringing to the market a new wave of home deals for the buyers ready and willing to have the patience to see the process through to the end. And with no end in sight to the record unemployment nor to the kind of long term [...]
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This is my favorite time of year to live in this part of California, and Emerald Hills is but one example of just how magnificent the spring time can be. Everything is green! When you live in Emerald Hills, there is a sense of community and all of our neighbors seem to realize the benefits [...]
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According to a recent article in the Wall Street Journal,
“Sales of existing homes fell a third time in a row during February, but the decline was less than expected, spurring hope for a turnaround in the spring.
Home resales dropped 0.6%, to a 5.02-million annual rate from an unadjusted 5.05 million in [...]
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We all know what happened in 2006 as the economy felt the beginnings of the collapse of the real estate market. That slow spiral of death into oblivion that has landed us here in 2010 with little to show for the lesson learned is rather disturbing to say the least.
So now what?
Well, consider [...]
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Well, it was just a matter of time, but for now the sellers are back in the drivers seat, so to speak!
The simple law of supply and demand is at work again, only this time it is Bay Area Home Buyers who are paying the price for waiting. With mortgage rates on the move [...]
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Well, in spite of all the bad press and economic issues that plague California, the housing market appears to be moving into its best quarter in well over a year. The National Association of Realtors recently posted this excerpt -
“Strong gains in existing-home sales were the predominant pattern in most states during the fourth [...]
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Would you change your buying intentions this spring if rates went up to 6%?
That’s the question Realtors are asking their fence-sitting clients this week as word hit the markets that there is a rate increase heading our way. With the Spring selling/buying season upon us, everyone is anxious to get homes listed, and start [...]
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Coming into the best selling season of the year, and inventory is way down. Buyers beware that this will result in multiple offers and price wars as more buyers enter the Spring Buying season. This is great for sellers though as demand will drive prices higher. If you are thinking of selling your home, now [...]
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