Oct 11 2016 19502 1

Oct 11 2016 19502 1

QUOTE OF THE WEEK... "The future ain't what it used to be."--Lawrence Peter "Yogi" Berra, American professional baseball player, manager and coach

...The future certainly isn't as upbeat as it once was, but at least housing-wise, it seems to be moving in the right direction. New data from realtor.com says that following a summer housing market that saw both high demand and rising home prices, we could experience the hottest fall sales in a decade. Their chief economist explained:"House hunters who were shut out this summer because of fierce competition could fare better this fall, with more opportunities to buy." He adds, "pent-up demand remains substantial as buyers seek to get a home under contract while rates remain so low."

A research firm projects the third quarter will be the best for mortgage lending since Q4 of2007. Going forward, a blog by the National Association of Realtors(NAR) notes that sales should heat up even more next year, reaching 6million units, up from their latest forecast of 5.8 million units for2016. This post reported that the Mortgage Bankers Association,Fannie Mae and Freddie Mac all had similar predictions. Here's the NAR's explanation: "A huge wave of Generation Y-ers [aka Millennials],who have delayed home buying, are emerging into their key buying years.They are predicted to keep home and condo sales strong well into2020, according to economists."
BUSINESS TIP OF THE WEEK...Three stress-reducing tips: 1) anticipate delays, accepting them asnormal; 2) instead of focusing on your worries, celebrate your successes; 3)under promise and over deliver.

Victor DeFrisco Headshot
Phone: 561-951-3759
Dated: October 11th 2016
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