Posts Tagged ‘Fort Gordon’

Existing Home Sales Report

Wednesday, July 22nd, 2015

Existing-home sales increased in June to their highest pace in over eight years, while the cumulative effect of rising demand and limited supply helped push the national median sales price to an all-time high, according to the National Association of Realtors®. All major regions experienced sales gains in June and have now risen above year-over-year levels for six consecutive months.

Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 3.2 percent to a seasonally adjusted annual rate of 5.49 million in June from a downwardly revised 5.32 million in May. Sales are now at their highest pace since February 2007 (5.79 million), have increased year-over-year for nine consecutive months and are 9.6 percent above a year ago (5.01 million).

Lawrence Yun, NAR chief economist, says backed by June’s solid gain in closings, this year’s spring buying season has been the strongest since the downturn. “Buyers have come back in force, leading to the strongest past two months in sales since early 2007,” he said. “This wave of demand is being fueled by a year-plus of steady job growth and an improving economy that’s giving more households the financial wherewithal and incentive to buy.”

Adds Yun, “June sales were also likely propelled by the spring’s initial phase of rising mortgage rates, which usually prods some prospective buyers to buy now rather than wait until later when borrowing costs could be higher.”

The median existing-home price2 for all housing types in June was $236,400, which is 6.5 percent above June 2014 and surpasses the peak median sales price set in July 2006 ($230,400). June’s price increase also marks the 40th consecutive month of year-over-year gains.

Total housing inventory3 at the end of June inched 0.9 percent to 2.30 million existing homes available for sale, and is 0.4 percent higher than a year ago (2.29 million). Unsold inventory is at a 5.0-month supply at the current sales pace, down from 5.1 months in May.

“Limited inventory amidst strong demand continues to push home prices higher, leading to declining affordability for prospective buyers,” said Yun. “Local officials in recent years have rightly authorized permits for new apartment construction, but more needs to be done for condominiums and single-family homes.”

The percent share of first-time buyers fell to 30 percent in June from 32 percent in May, but remained at or above 30 percent for the fourth consecutive month. A year ago, first-time buyers represented 28 percent of all buyers.

According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage rose in June to 3.98 from 3.84 percent in May, but remained just below 4.00 percent for the seventh straight month.

Properties typically stayed on the market for 34 days in June, down from May (40 days) and the shortest time since NAR began tracking in May 2011. Short sales were on the market the longest at a median of 129 days in June, while foreclosures sold in 39 days and non-distressed homes took 33 days. Forty-seven percent of homes sold in June were on the market for less than a month — the highest percentage since June 2013 (also 47 percent).

NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark., says Realtors® are reporting drastic imbalances of supply in relation to demand in many metro areas — especially in the West. “The demand for buying has really heated up this summer, leading to multiple bidders and homes selling at or above asking price4,” he said. “Furthermore, tight inventory conditions are being exacerbated by the fact that some homeowners are hesitant to sell because they’re not optimistic they’ll have adequate time to find an affordable property to move into.”

Matching the lowest share since December 2009, all-cash sales were 22 percent of transactions in June, down from 24 percent in May and 32 percent a year ago. Individual investors, who account for many cash sales, purchased 12 percent of homes in June (14 percent in May) — the lowest since August 2014 (also 12 percent) and down from 16 percent in June 2014. Sixty-six percent of investors paid cash in June.

Single-family home sales increased 2.8 percent to a seasonally adjusted annual rate of 4.84 million in June from 4.71 million in May, and are now 9.8 percent above the 4.41 million pace a year ago. The median existing single-family home price was $237,700 in June, up 6.6 percent from June 2014 and surpassing the peak median sales price set in July 2006 ($230,900).

Existing-home sales in the South increased 2.3 percent to an annual rate of 2.20 million in June, and are 7.3 percent above June 2014. The median price in the South was $205,000, up 7.2 percent from a year ago.

Pending Home Sales Highest in 9 years

Friday, May 29th, 2015

Pending Home sales soared for the 4th straight month and reached their highest level in nine years, according to the National Association of Realtors®. Led by the Northeast and Midwest, all four major regions saw increases in April.

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, increased 3.4 percent to 112.4 in April from a slight upward revision of 108.7 in March and is now 14.0 percent above April 2014 (98.6) — the largest annual increase since September 2012 (15.1 percent). The index has now increased year-over-year for eight consecutive months and is at its highest level since May 2006 (112.5).

Lawrence Yun, NAR chief economist, says the steady gains in contract activity each month this year highlight the fact that buyer demand is strong. “Realtors® are saying foot traffic1 remains elevated this spring despite limited — and in some cases severe — inventory shortages in many metro areas,” he said. “Homeowners looking to sell this spring appear to be in the driver’s seat, as there are more buyers competing for a limited number of homes available for sale.”

Adds Yun, “As a result, home prices are up and accelerating in many markets.”

Following April’s decline in existing-home sales, Yun expects a rebound heading into the summer, but the likelihood of meaningful gains will depend on a much-needed boost in inventory and evidence of moderating price growth now that interest rates have started to rise.

“The housing market can handle interest rates well above 4 percent as long as inventory improves to slow price growth and underwriting standards ease to normal levels so that qualified buyers — especially first-time buyers — are able to obtain a mortgage.”

Pending home sales in the South rose 2.3 percent to an index of 129.4 in April and are 14.8 percent above last April. The index in the West inched 0.1 percent in April to 103.8, and is 16.4 percent above a year ago.

Total existing-home sales in 2015 are forecast to be around 5.24 million, an increase of 6.1 percent from 2014. The national median existing-home price for all of this year is expected to increase around 6.7 percent. In 2014, existing-home sales declined 2.9 percent and prices rose 5.7 percent.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

Video Home Report

Tuesday, May 26th, 2015

Video Home Report

Thursday, April 30th, 2015

Springtime in Augusta Georgia

Monday, April 6th, 2015

Spring has officially begun, Masters week is underway in Augusta Georgia.

The first “Augusta National Invitational” Tournament, as the Masters was originally known, began on March 22, 1934, and was won by Horton Smith. The present name was adopted in 1939.

Initially the Augusta National Invitational field was composed of Bobby Jones’ close associates. Jones had petitioned the USGA to hold the U.S. Open at Augusta but the USGA denied the petition, noting that the hot Georgia summers would create difficult playing conditions.[10]

Gene Sarazen hit the “shot heard ’round the world” in 1935, holing a shot from the fairway on the par 5 15th for a double eagle. This tied Sarazen with Craig Wood, and in the ensuing 36-hole playoff Sarazen was the victor by five strokes. The tournament was not played from 1943 to 1945, due to World War II. To assist the war effort, cattle and turkeys were raised on the Augusta National grounds.

In addition to a cash prize, the winner of the tournament is presented with a distinctive green jacket, formally awarded since 1949, and informally acquired by the champions for many years before that. The green sport coat is the official attire worn by members of Augusta National while on the club grounds; each Masters winner becomes an honorary member of the club. The recipient of the green jacket has it presented to him inside the Butler Cabin soon after the end of the tournament, and the presentation is then repeated outside near the 18th green in front of the spectators. Winners keep their jacket for the first year after their first victory, then return it to the club to wear whenever they visit. The tradition began in 1949, when Sam Snead won his first of three Masters titles.

The green jacket is only allowed to be removed from Augusta National by the reigning champion, after which it must remain at the club. Exceptions to this rule include Gary Player, who in his joy of winning mistakenly took his jacket home to South Africa after his 1961 victory (although he has always followed the spirit of the rule and has never worn the jacket); Seve Ballesteros who, in an interview with Peter Alliss from his home in Pedreña, showed one of his two green jackets in his trophy room; and Henry Picard, whose jacket was removed from the club before the tradition was well established, remained in his closet for a number of years, and is now on display at Canterbury Golf Club in Beachwood, Ohio, where he was the club professional for many years.

By tradition, the winner of the previous year’s Masters Tournament puts the jacket on the current winner at the end of the tournament. In 1966, Jack Nicklaus became the first player to win in consecutive years and he donned the jacket himself.[15] When Nick Faldo (in 1990) and Tiger Woods (in 2002) repeated as champions, the chairman of Augusta National put the jacket on them.

There are several awards presented to players who perform exceptional feats during the tournament. The player who has the daily lowest score receives a crystal vase, while players who score a hole-in-one or a double eagle win a large crystal bowl. For each eagle a player makes he receives a pair of crystal goblets. The winner of the par 3 competition, which is played the day before the tournament begins, wins a crystal bowl.

In addition to the green jacket, winners of the tournament receive a gold medal. They have their names engraved on the actual silver Masters trophy, introduced in 1961, which depicts the clubhouse. This trophy remains at Augusta National; since 1993 winners have received a sterling silver replica. The runner-up receives a silver medal, introduced in 1951. Beginning in 1978, a silver salver was added as an award for the runner-up.

In 1952 the Masters began presenting an award, known as the Silver Cup, to the lowest scoring amateur to make the cut. In 1954 they began presenting an amateur silver medal to the low amateur runner-up.

Enjoy this years tournament its always comes down to the back nine, check out the official Masters site for updates

thanks to wikipedia for the information in this article