Janice Strauss's Blog


Wednesday, January 25th, 2012

Homes are Made of Love and Dreams

 

t’s Not Just a House – It’s a Home

House vs Home

The real estate business is about more than houses – it’s about homes.

We at YWGC Realty think the best part of our business is helping people find the home of their dreams, whether it’s a young couple starting a family, empty nesters looking for a home that meets their changing needs, or anyone in between.

It may sound corny, but owning your own home really is the American dream. Sometimes people focus too much on home ownership as a hedge against inflation, and houses as investments or assets, like so many stocks or bonds.

We live and work in a world of numbers:  prices, interest rates, appraisals, comparables – the list is endless. In the short term, that’s what our jobs are about. but in the long term, our careers are about people – their hopes, their dreams, their families, and their homes. If we keep that in mind, we will continue to do well no matter where we are in the real estate cycle, because home ownership is the great constant in the American dream.

 

Remember that the real estate business is about more than houses – it’s about homes. At Yerman Witman Gaines & Conklin Realty we have the real estate agents with the expertise to get you into the home of your dreams.

 

 

Search Baltimore homes for sale or other Maryland real estate with ywgcrealty.com
 
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Posted by: Janice Strauss at 1:50pm  

 
Thursday, October 20th, 2011

Single Women are great buyers!!

Young, single professional woman seeking attractive home.

 

 

 

 

 

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Have women’s changing relationships with homeownership helped define who they are?  

It wasn’t that long ago when women had only a secondary role in the home.  They cooked for it.  They cleaned it.  And in some cases they ran it with an iron fist.

But they rarely purchased it.

In the 50s this type of woman was epitomized by June Cleaver, the pearl-clad TV matriarch who was a ‘housewife,’ i.e. she lived in a home that was bought and paid for by her husband.

Mary Tyler Moore represented a steep departure from that prototype.  She was a working professional woman, circa 1974, who made her own money and her own way in the world.  But she also had no husband and, therefore, no house.  When she wasn’t working in the newsroom, she lived in a rented efficiency.

By 1981, however, single women like Mary were putting their hard-earned money to good use.  They had pulled even with single men in the number of homes purchased per year.

But in the 21st Century, the tide has turned.  These days young, single professional women are realizing the American Dream more often than anyone else. 

According to the National Association of Realtors, last year single women purchased more than twice as many homes as single men bought.  In fact, single women bought one of every five homes sold, or 1.5 million homes. 

A recent article in USA Today points out that there are many demographic reasons for this change, but the biggest one seems to be a change in point of view.  Women now feel like they can acquire their own homes instead of waiting for Mr. Right to buy them one.

YWGC agent Annie Balcerzak couldn’t agree more.  “I’ve helped a lot of young, single professional women buy their homes in the last couple of years,” she said.  

Asked if she thinks it’s a trend, Balcerzak said, “I think young, professional women are savvy enough to see the opportunity.  Prices are way down from where they were just two years ago.  Interest rates are nothing short of extraordinary. Women understand that buying now means locking yourself into the investment of a lifetime.”

Balcerzak is sure she has a handle on the trend:  “Well, I’m a woman.  I’m 30.  And I just settled on my second home,” she said, with a smile.

 

 




Posted by: Janice Strauss at 11:37am  

 
Wednesday, September 21st, 2011

Housing Inventory Decline: Good News?

Housing Inventory Declines: Good News? Maybe Not.
 
Buy Home Now
 
 
Ordinarily, a decline in housing inventory would be taken as a good sign for sellers – especially given current market trends and the need to clear out excess inventory. The fact that homes listed for sale declined in August would be especially noteworthy, since housing inventory traditionally increases just before school opens.
 
So the report in Realtor.com that the pool of homes for sale nationally declined in August is good news, right? Well.. maybe not.
 
Here are the facts. Inventories declined by 1.9% from July to August, and a whopping 19% from a year ago, so that sounds good to potential sellers plagued by dropping prices. But there’s nothing to indicate that the decrease in homes listed is a result of increased sales (although short sales were up).
 
A more plausible reason for the inventory decline is that sellers are increasingly reluctant to list their homes in what they perceive to be a weak selling environment. Those who can wait, will. Plus, these numbers don’t reflect the “shadow inventory” of millions of homes in some stage of foreclosure, but not yet for sale as REOs.
 
The question is, if a lot of people who would ordinarily put their homes on the market have decided to wait on the sidelines, where is the recovery going to come from? Does the government need to take dramatic action now, just to get something started?
 
What do you think?    



Posted by: Janice Strauss at 6:57am  

 
Thursday, September 15th, 2011

Allow More Homeowners to Refinance

  

                         

 

 

In his speech to Congress last week, President Obama made a brief reference to helping “responsible” homeowners lower theirmortgage rates. He was referring to a proposal to expand HARP (Home Affordable Refinance Program) – a 2-year old program offered by Fannie Mae and Freddie Mac that has helped 838,000 homeowners to refinance at lower rates. While that sounds like a lot, it is actually far short of the program’s original target. The original HARP has been criticized for having overly strict income requirements and high fees.

 

There are two big advantages to expanding the HARP program to more homeowners quickly:

1.      It doesn’t have to be approved by Congress, although it does need the approval of the Federal Housing Finance Agency. But given the current state of Congressional relations with the administration, they’ll take the FHFA any time.

2.      The Congressional Budget Office (CBO) estimates that an expanded HARP could refinance 2.9 million mortgages without adding to taxpayer liability. That’s a lot of people who could be helped to save their homes.

 

So that’s a better HARP. Why is it potentially so important?

 

A report by CoreLogic on Tuesday showed that nearly 75% of homeowners with negative equity (“under water”) are paying higher, above-market interest on their mortgages. When you consider the fact that in Maryland alone, 23.6% of mortgages (320,881) are under water, it’s safe to assume that approximately 240,000+ of these homeowners are paying above-market interest rates.

 

If the government includes more of these homeowners in HARP, thereby allowing them to refinance at lower rates, a lot of these families would be able to avoid foreclosure and keep their homes. That means fewer foreclosures and REO’s, fewer short sales, and a healthier housing market in the near future.

 

 

There are plenty of ideas for fixing the housing market out there, but a better HARP is a great place to start – and quickly.




Posted by: Janice Strauss at 7:25am  


Janice Strauss

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Prudential Homesale YWGC Realty
1425 Clarkviews Road Suite 700
Baltimore, MD

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