Here are some facts, predictions and bits of information I have stumbled across the past couple of days while catching up on my reading. You may or may not find them interesting but you just might be surprised.
The National Association of Realtors (NAR) predicts existing home sales of 5.02 million in 2008, 5.32 million in 2009 and 6.2 million in 2010. (Optimism, I love it! All I want is 53 of those closings next year.)
Texas is one of the major states still posting home price increases. (Does buy low and sell high ring a bell?)
U.S. foreclosures are up 27% YTD in 2008 while Texas is down 18% YTD 2008. (Our foreclosure boom is over if it ever got here.)
NAR predicts 30-year fixed rate mortgages to average 6.2% in the fourth quarter of 2008, rise to 6.5% during the second half of 2009 and average 6.7% in 2010. (Get those credit scores up and buy now.)
Zillow.com accuracy statement indicates that its' median error for Galveston County was 20.9%! That's huge and over $40,000 on a $200,000 home. (Would you use a surgeon whose error rate was that high?)
Texas properties posted for foreclosure in the first half of 2008 were down 17.7% from the same period in 2007. (Please stop asking me to find that foreclosure you can get for half of list price and sell within 30 days for triple what you paid for it.)
Prime and subprime ARM mortgages represent about 20% of all mortgages but 60% of all foreclosures. (Knowing our government they probably commissioned a $10,000,000 study to figure this out.)
The average homeowner can save $180 per year with a programmable thermostat. (Another item for the honey-do list.)
In CNBC's rankings of states' economies Texas came in first. (And Texas Tech will be first in next weeks coaches poll.)
Ron, Good stuff. Please go look at mine and let me know what you think.
Let's hope Texas Tech is not first next week! LOL... You pointed out a lot of good information - I have seen the same and have been telling everyone that we (Texas) have not been affected like those in the West and Eastern States - we're still alive and kicking in Texas.
Hello Ron,
Great information. Thanks for sharing. Hope all is going well for you and the rest of the folks in Conroe.
Ron
I will agree with the Texas Tech prediction !! LOL
Some of these other stats may be a little off when you look closely at Texas overall...but regardless we do have it pretty goodand have alot to be grateful for.