Happy Halloween – Superstitions relating to buying or selling a home

Are you superstitious?

The following are superstitions relating to buying or selling a home.
1) The “Old Farmer’s Almanac” advises for good luck to bring along a new broom and salt on your first visit to your new home.
2) In the old South, porch ceilings were painted “haint blue” a soft blue green shade said to keep ghosts away.
3) Years ago it was common to place shoes or coins in a building’s foundation for good luck.
4) For a quick sale of your home, lore says to bury a statue of St. Joseph, up-side-down in the yard.

Happy Halloween!

**SOLD IN 3 WEEKS!** Lovely Lombard Cape Cod

Spend the holidays in your beautiful new home! Gorgeous kitchen includes new SS appliances, cherry finish cabinets, granite counters, tumbled back splash and ceramic floor. Lovely living room with hardwood floors. Huge master with walk-in closet. Two beautifully updated full baths. Spacious finished basement. New roof, windows and 6-panel doors. Large deck off kitchen and fully fenced yard. A gem – don’t miss it!

 

 

SOLD! In 28 days! Cute & spacious ranch in great neighborhood!

What a value! Bright and airy 3 bedroom, 2 bath ranch in a great neighborhood! Eat in kitchen with newer appliances. Newly refinished hardwood floors
throughout. Partially finished full basement. Two car garage with new door & opener. A lovely backyard with a large deck. Many updates: AC 2011, WaterHTR
2010, Electric panel 2006, Roof 2003, Furnace, W&D 2002. Great bones…don’t miss it!

IT’S TIME TO BUY A HOME!

In the past month four different respected financial resources said the same thing:

IT’S TIME TO BUY A HOME!

The four are The Wall Street Journal, Forbes Magazine, JP Morgan Market Insights and MarketWatch.com

Monday, we gave you the links to four different articles that came to the same conclusion: it’s time to buy a home. Today, we want to take a closer look at one of the sources, the JP Morgan’s Market Insights report. Right from the beginning, the paper identifies the greatest challenge in today’s housing market: consumer emotion. They attempt to overcome that emotion with logical reasons why now is the time to buy a home. They break it down to the following.

Price-to-Income Ratio

One measure of housing values is the ratio of personal income to home prices. The report explains where we are today:

“Since 1966, the median price of an existing single family home in the U.S. has varied between 150% and 251% of personal income per household. However, roughly three-quarters of the time it has been in a relatively narrow band between 185% and 230%. In September 2011, the ratio was just 153%, implying that to get back to an average price to income ratio, home prices would have to rise by about 27%.”

Current Mortgage Interest Rates 

With current 30 year mortgage rates, housing payments are at historic lows as compared to personal income.

“During the week of October 7, Freddie Mac reported that mortgage rates had fallen to an average annual level of 3.94%. Assuming the use of a fixed rate mortgage with 20% down, this would make the median mortgage payment on a single family existing home just 6.9% of per household personal income, compared with an average of 14.4% since 1966.” 

Monthly Rent vs. Monthly Mortgage Payment 

Is it less expensive to own a home or rent a home? The answer to this question helps families make the decision whether or not to buy a home. The report explains:

“By the third quarter of this year, we estimate that the implied median mortgage payment had fallen to just 78% of the median asking rent…”  

Bottom Line

The paper comes to the conclusion that now is the time to buy.

“The numbers on housing have an important message for American families today, and particularly younger families setting out on life’s great adventure: Five years ago, at the peak of the home-buying euphoria, it was emphatically a time to rent. Today, when home ownership is depreciated more than ever before, the numbers tell us it is a time to buy.”

I agree.

courtesy of the KCM blog

 

REAL ESTATE IS STILL THE BEST LONG TERM INVESTMENT

BELOW IS A STARTLING GRAPH!  IT DETAILS AN INVESTMENT FROM JANUARY 2001 TO NOVEMBER 2011. 

THIS IS THE TIME TO BUY!!
 

Return on Investment Since 2000

COURTESY OF THE KCM BLOG.

Jeanne Jordan

**SOLD IN 18 DAYS ** Stunning Ranch on huge South Villa Park Lot!

Stunning Ranch in south Villa Park

** SOLD IN 18 DAYS! ** Stunning home! Gorgeous new kitchen with granite counters, travertine floor and a breakfast nook overlooking the 300 ft lot. Hardwood floors throughout. Newly finished basement with large family room, 4th bedroom & beautiful full bath with fabulous walk-in shower. Lovely laundry room. All new windows & updated electric. 2.5 car garage. Beautiful new deck.