A joint study by Google and the National Association of Realtors (NAR) has found that consumers’ online experiences increasingly influence their homebuying activities activity offline.
Called “The Digital house Hunt: Consumer and market Trends in Real Estate,” the report produced the following observations, among others:
- 90 percent of buyers searched online when looking for a new home;
- Real estate related searches on Google have grown Continue reading
The National Association of Realtors (NAR), a membership organization of brokers and agents that has little presence here, wants you to know how to select the right person to sell your home or represent you as a buyer.
On its Web site, the NAR headlines its advice with the hardly surprising admonition to “Hire a Real Estate Agent with the Power to Succeed.” Undermining its credibility, the organization then predictably continues:
It’s the best time to buy a home in years, but the worst time to move without a professional on the payroll.
Not everyone should own a home?
Lenders need to have strict standards?
House prices can go down as well as up?
These are not the usual positions of an organization that describes its “core mission” as Continue reading
HAVE A SAFE AND HAPPY HOLIDAY WEEK!
In a dense but revealing blog post of the National Association of Realtors (NAR), Jerome Nagy writes about the difficulty of establishing the value of a property in today’s market.
It is, he says, a common misconception that the price on which a seller and buyer agree is the value of an apartment, townhouse or single-family dwelling. He declares:
It has always been a challenge for appraisers to identify value and support their opinions of market trends where neighborhood prices are in a state of flux. Today, this challenge is more widespread than perhaps any other time in history as neighborhoods and markets that were previously declining are now stable if not recovering.
Difficulties arise when a market “bounces,” Nagy writes in his NAR blog post, going on to say that it can be impossible to Continue reading
Here’s your chance to catch up with news included to inform, enlighten and perhaps even entertain you. To read about The Big Apple, check out the other of today’s posts and look for Out and About early next week.
Pending home sales in the U.S. rose again in November, with the broad trend over the past five months indicating a gradual recovery into 2011, according to the National Association of Realtors (NAR).
The Pending Home Sales Index rose 3.5 percent to 92.2 based on contracts signed in November from 89.1 in October, the NAR said.
The index is 5.0 percent below a reading of 97.0 in November 2009. The data reflect contracts and not closings, which normally occur with a lag time of one or two months. (That’s why the NAR mis-characterizes the index as “forward looking.”) Commented NAR Chief Economist Lawrence Yun:
In addition to exceptional affordability conditions, steady improvements in the economy are helping bring buyers into the market. But further gains are needed to reach normal levels of sales activity.
If we add 2 million jobs as expected in 2011, and mortgage rates rise only moderately, we should see existing-home sales rise to a higher, sustainable volume
If, if. . . If, indeed!
Let’s hope he’s right and expect that he’s not.
I’d rather be pleasantly surprised than depressingly disappointed. Wouldn’t you?
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022
Pending home sales edged down in June, according to the National Association of Realtors (NAR), which forecast near-term sales in the U.S. notably lower than during the months that approached expiration of the homebuyer tax credit.
The Pending Home Sales Index, a forward-looking indicator, declined 2.6 percent to 75.7 based on contracts signed in June from an upwardly revised level of 77.7 in May. It was 18.6 percent below June 2009. Commented Lawrence Yun, NAR chief economist: Continue reading