From The Desk of Chris Mygatt

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Positive Angles

I am excited to introduce a new ongoing series to my communique which I will call Positive Angles. Basically I want to help you better communicate to your clients what the real estate industry both locally and nationally are trending towards, positively. I will try to have for you monthly excerpts from various mediasn pertaining to what real estate professionals are saying to homebuyers and sellers about current market conditions. The successful brokers and sales associates are talking about the strengths that exist in the market not the negative media hype. Below are positive angles that appeared recently in the media and underscore why it is a good time to buy real estate.

Recent Quotes About the Positive Signs in the Real Estate Market

Demographics:
"You've got demographics that are overwhelming. There are 78 million baby boomers, their kids and minority home ownership has grown to about 50% from 40% in the last ten years. Interest rates are near historic lows, unemployment is under 5% and, overall, the economy is good. So, I think the long-term outlook for real estate is solid." Jim Gillespie, CNBC.com. "Coldwell Banker CEO: Now Is Best Time to Buy a House," March 27, 2007.

Homebuyer Behavior:
"It's unlikely homebuyers will be able to resist interest rates dropping another half a point, while home prices are also dropping. Also, the see-sawing stock market could be reminding home buyers of the volatility of investments. At least in a home, they won't feel the rocking motion of prices." Blanche Evans, editor, Realty Times, "Existing Home Sales Show Surprising Gain. Will It Last?" March 26, 2007.

Mortgage Rates:
"The national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 6.16 percent in the last week, down from an average of 6.29 percent in February. The 30-year fixed was 6.22 percent in January, and 6.25 percent in February 2006." Freddie Mac, Weekly Primary Mortgage Market Survey, March 22, 2007. Prices:
"Overall, home prices should rise slowly this year, and many buyers have an opportunity now that was only a dream during the five-year boom. NAR President Pat Vredevoogd Combs, Realty Times, "Existing Home Sales Show Surprising Gain. Will It Last?" March 26,2007.