For
the week of April 23, 2012 – Vol. 10, Issue 17
QUOTE OF THE WEEK..."A
great pleasure in life is doing what people say you cannot do."
--Walter Bagehot, English businessman, essayist and journalist
INFO THAT HITS US WHERE WE LIVE... People say home building
can't recover any time soon. Yet the signs continue to mount that a
recovery is underway. Off 5.8% for March, Housing Starts are up
10.3% from a year ago, to a 654,000 unit annual rate. The
monthly drop came from volatile multi-family starts, while
single-family units were down only 0.2%. And the number of homes
under construction was up for the seventh month in a
row! Even Building
Permits are up
30.1% versus a year ago. It's early in the home building
recovery, but some are saying we could get to 1.5 million units by
2016.
More signs the housing market
is recovering slowly but surely came with March Existing Home Sales. Although off
2.6% for the month, at 4.48 million units, they're up 5.2% over a year
ago. In addition, the median price rose in March to $163,800
and is up 2.5% over a year ago, while the months' supply of inventory
stayed at 6.3. Frankly, no one
expects a big bump in home sales soon, but the market is definitely
beginning to heal, as it's obviously a great time to buy.
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When dealing with your home financing, I not only work with one of your largest
personal financial investments; I also handle one of your biggest dreams. As your
mortgage planning specialist, I will give you my best consistently. My team specializes
in renovation financing both for the purchasing of a home or for renovating a home you
already own. In fact, Renovation Loans are all we do. Renovation loans allow you to
purchase or refinance and renovate the home in one seamless transaction.
With over 13 years experience working with only Renovation Loans you can trust myself
and the rest of the St Louis Renovation Team to help guide you from application to
project completion.
Tony Collins
Renovation Specialist
Office: 314-288-2462
Office: 866-997-0358
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A word from Provident: The housing market is getting ready to rebound.
If you are looking to invest in real estate, now would be the time to
start. If being a landlord isn't for you, contact us. We are ready to manage your units professionally and competently.
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