News: "Savvy Buyers Know Value When They See It"

Nice read for anyone looking to buy a home... <http://realtytimes.com/rtpages/20110614_savvy.htm>

Summary:  RealtyTimes, PJ Wade, has a nice article with some advice for anyone looking to buy a home.  PJ makes the point that you should be prepared when you are off "shopping" for homes with your agent.  Be sure to ask all the questions and do not hesitate because it is the job of your agent to answer any of your questions and know all the ins and outs of the property.

News: "Economists Revise Forecasts For Real Estate Recovery"

Inman Real Estate News reports:  Our nations economists have once again "trimmed" their annual forecast for the year and now project the housing recovery to start in 2012.


Forecasts at the beginning of the year expected the recovery to come near the end of 2011, but due to a slow start the "EXPERTS" are now lowering their expectations for the recovery. While some experts think the recovery will next year, some believe that we will see large growth in 2012, compared to the past few years.  The chart below shows 5 Industry Experts forecasts for the market, provided by InMan.com. 

	2010 Starts	2011 Forecast	Gain	2012 Forecast	Gain
NAHB	585,000	597,000	2%	800,000	34%
Freddie Mac	590,000	630,000	7%	900,000	43%
Wells Fargo	590,000	620,000	5%	830,000	34%
Moody's	590,000	700,000	19%	1,000,000	49%
Global Insight	587,000	589,000	2%	838,000	42%

"Once consumer confidence comes back, there should be some movement to regain the lost household formations and delayed moves."


My Opinion:  This is good news for the industry and the entire country.  Good in the sense that there are expectations for LARGE GROWTH, which we probably will not reach, but that means there will be GROWTH.  Maybe it's just because I started working for RE/MAX in June and it the summer time tends to have an increase in home sales, but I have witnessed no shortage in buyers and sellers.  Bill and I set up and had three open houses today, 1 planned and two because people called the office and WANT to look for a new place.

*Read the full article:  <http://www.inman.com/opinion/guest-perspective/2011/06/15/economists-revise-forecasts-real-estate-recovery>

If you have any questions, i'd love to answer them:  314.706.0304, matthew.ullrich@colorado.edu

Quote of the Day

"There can't be a crisis next week. My schedule is already full"
-Henry A. Kissinger

News: "Construction Begins on Controverial Boulder Project"

Washington Elementary School.  Boulder, CO

Boulder, CO:  Boulder County Business Report, Michael Davidson, reports that construction has begun on the once controversial Washington Village project in north Boulder.  For those of you who are unaware, this project is going to be built around the historic Washington Elementary School off of Broadway and Cedar.
Washington Village is planned to be developed into 33 residence community:  "The first phase of the project consists of flats, carriage homes and six single-family homes around a planned park. It incorporates the Washington Elementary School and is designed to be a park like campus featuring shared public areas, according to the developers"(Davidson)

The development plans to keep the historical school up while tearing down the not-historical additions.  The proposed project sits on 3+acres of land and was privately bought in 2008 for $4.1 million dollars.

<http://www.bcbr.com/article.asp?id=58115>

Quote

"Avoiding danger is not safer in the long run than outright exposure. Life is either a daring adventure, or nothing."   

-Helen Keller

*I'm going to try to keep a quote of the day on the blog...hope you enjoy

Age Old Question: Rent or Own?

In these tough times in the housing market a lot of people ask the question, should I rent or own?  Even through these past few years AHS Newsletters.com gives 7 solid reasons in favor of owning a home vs renting.  Most of the reasons circulate around the fact that it is a sound investment and appreciates in value over time, but it is a pretty driving video if you are on the fence about RENTING vs OWNING.

Check it the 3minute video!  <http://www.ahsnewsletters.com/realtor/2011/february/ahs/reasonsToOwnHome.html?utm_campaign=TT_AHS_June11&utm_medium=email&utm_source=AHSemail&utm_content=shareWithClients_text>

News: For my St. Louis followers

News:  "St. Louis Sees Rise in Home Values"  For my St. Louis followers, here is some good news about your housing market.  In the last quarter St. Louis has seen a 2.2% increase in home prices, that's second in the nation behind Washington DC at 4.5%, and the third place is at a steady 1.6% growth. GO STL!

Read the article on Realtor.org...http://www.realtor.org/RMODaily.nsf/pages/News2011061301?OpenDocument