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With the end of the year quickly approaching, it is important to take a look back on news from the past year.
Please enjoy our last newsletter for the year 2010 and have a happy and safe holiday season from all of us at NorthStar Title! |
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Realtors® Reflect on 2010; Ready for 2011
2010 has been a year of real estate contrasts. While many consumers have taken advantage of historic buying opportunities and the market has seen a gradual stabilization of sales and prices, other challenges facing the nation have led some to question the value of home ownership for families, communities, and the country.
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Short Sales on the Rise
In the Cleveland metro area, short sales accounted for nearly 6 percent of all home sales in September, according to real estate research firm CoreLogic. Four years before, they were barely 2 percent of sales in the market, which includes Cuyahoga, Geauga, Lake, Lorain and Medina counties. Nationally, short sales have risen from a mere blip a few years ago to almost 8 percent of all transactions in September.
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Number of 'underwater' homeowners sinks
article from Cleveland Plain Dealer
The number of homeowners who owe more than their houses are worth fell for the third straight quarter this summer.
About 10.8 million households, or 22.5 percent of all mortgaged homes, were underwater in the July-September quarter, housing data firm CoreLogic said Monday. That's down from 23 percent, or 11 million households, in the second quarter.
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Real Estate Outlook: Builders regain optimism
article from Realty Times
Housing starts rose in December, indicating that builders may be starting to feel more optimistic about the market.
Starts rose 3.9 percent last month, this being the first rise in new-home production since August. According to data from the U.S. Commerce Department, this rise was thanks to a 7 percent gain in single-family home building.
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Here's to a joyful present, and a well remembered past.
Happy New Year from all of us at NorthStar Title! |
