Poverty Moving to Suburbs
The number of people living below the federal poverty line ($23,492 for a family of four in 2012 ) today remains at record highs. But even so, a study by the Brookings institution shows that poverty is moving from the inner cities and rural areas to the suburbs. This is a significant shift compared to 2000 when the urban poor still outnumbered suburban residents living in property. Data shows that between 2020 12, the number of people living in distressed neighborhoods increased by 5 million. Read more
The Commerce Department reported today new-home sales fell 11.5% in September to the lowest level in the last 10 months. to compound this, bad news, the report also stated thatthe August new home sales were revised down by 22,000.
Even with this drop in September new home sales, the year-over-year new home sales pace was actually up by 2%!a number of housing market insiders attribute the September drop in new home sales to the increasing home prices. In many markets home prices are far exceeding the ability for the average new home buyer to qualify for conventional mortgage. Read more
Data from really track shows that one third of US counties are less affordable today than they were in 2000! This report calculated the percentage of median income needed to make monthly payments on a median priced home in each county, as well as their historical trend in each county’s income, the price affordability percentage going back to January 2000.
There were 1200 counties analyzed in 2014 and none of them are near the danger marks reached during the housing bubble! Plus, should interest rates increase by one percentage point only 59 counties, which represent about 2% of the US population would be at or above the housing bubble levels in terms of affordability. Read more
Existing Home Sales Jump
The National Association of Realtors reported today that existing home sales increased 4.7 percent to an annual rate of 5.55 million units.
This September home resale increase was more than expected and the second highest monthly sales pace since February 2007!
Personally because of seasonal factors I would expect housing prices to remain somewhat stagnant or actually soften the little from now through the next four or five months. So, for those of you who have been thinking about buying your first home, or perhaps buying a move-up home, from now through about March is usually the best time to purchase a home. Read more
Living at Home
The study attributes this fact to tough economic conditions and increased housing cost. Older young adults age 24 through 34 typically make up approximately half of all first-time homebuyers, but they’re delayed willingness to apparently leave their parents domicile contributed to lower housing demand during the recession. Read more
Older Homes – Is one in your future?
Not only are the baby boomers entering the Social Security program at an astonishing rate, but, a new survey shows that the average age of owner occupied homes in the United States is also increasing.
The US Department of Housing and Urban Developments, American Housing Survey found that the median age of an owner-occupied home in the United States was 35 years old in 2011, up from a median home age of 23 in 1985. Read more
San Diego Real Estate Drone
This is my new real estate drone that I just purchased to replace my DJI Phantom.
Yuneec Typhoon Q500 G drone Unpacking
The Yuneec Typhoon G is the newest a series of unmanned aerial video (UAVs) developed by the Chinese company Yuneec. This new model is the first that you use your own GoPro camera. So, it is without question the best aerial photography platform for your money . . . If, and it’s a big if you already own a GoPro camera!
Personally, I’ve had about three drones prior to getting this and this is by far the best not only in construction quality but also in technology. The main reasons I purchased this model are because it allows me to use my existing Go-Pro Hero for black edition which is a forte resolution sports camera. Since I already use the Go-Pro on motorcycle rides and out with my two Airedale Terriers, it was not cost effective to get one of the drone models that had a proprietary camera on it when I already was capable of shooting in 4K with the GoPro. Read more
Home sellers looking for larger homes
A national Association of realtors survey found that almost half of the home sellers last year moved up to a larger more expensive home, and 59% of them bought a newer home also, this report showed that the typical home seller had lived in their home for nine years. Last year, up from the typical timeframe of six years in 2007. Read more
Hardwood floors remain a very popular choice among many homeowners, and with all the stains and finishes available, cleaning them is easier than ever.
Wood floors are easy to maintain — they usually require little more than sweeping with a soft-bristle broom and periodically cleaning with a reputable wood floor cleaner. Read more
Homeowner Quicktips – Dryer Safety
Cleaning lint from a clothes-dryer vent is an important maintenance step that is often neglected.
The vent pipe should be inspected and cleaned at least once a year. If allowed to accumulate, lint in the vent pipe is not only a fire hazard but can adversely affect performance of the dryer – sometimes making it difficult or impossible to get clothes completely dry. Read more