Archive for the 'Uncategorized' Category

Umbrellas distributed at 4th of July weekend

Friday, June 14th, 2013

Housing Recovery

Friday, May 24th, 2013

Town & Country has been predicting on the US housing recovery and reporting on the steady improvements in the Hamptons and North Fork markets for quite some time. In fact, in our blog www.TownandCountry.com/blog, we went so far as to say the housing market will be the major contributor to our economic stimulus which will result in the next accelerating market. Nationally, new home sales hit record prices, both the average price as well as the median price, in April as per the Commerce department. Furthermore, builders reported selling 454,000 new homes whcih is a 29% increase from April 2013 and only 100,000 less than the peak in 2006. You don't need a crystal ball to see the future of home sales. Are you in?

Housing Will Save Us!

Wednesday, November 21st, 2012

So many economists point their fingers at the housing market and cast blame for the entire Great Recession.  While the housing bubble may have been a significant contributor, run away government spending, irrational lending practices and collapsing global economies weighed heavily. 

 

But now there’s one shining star in the sky as we look over the edge of that Fiscal Cliff – it’s housing!

 

Housing may actually be the savior the U.S. economy needs so badly.  Homes sold create jobs, pump money into their local economies, and, most importantly, fosters a sense of the American Dream – home ownership – a major for “feel good”!

 

Bottom Line All Measurable Housing Statistics Are Up:

-       new home sales up

-       existing home sales up

-       construction up

 

All unsustainable measures, and all economy stimulators…

Housing Starts for a 4 Year High

Tuesday, November 20th, 2012

The United States Commerce Department released its report as housing starts yesterday. United States Housing starts rose to the highest level in more than 4 years since July 2008! The level, 894,000 units or a 3.6% increase.

 

The housing market recovery has a clear and deep foundation with increased statistics in Home Sales, construction in inventory – all of which indicate prices have nowhere but up to go…the inquiring question is – at what rate ? – stay tuned to this blog for the market pulse.

Existing Homes for Sale

Monday, November 19th, 2012

We all have read the reports confirming the upcoming housing market. But did you know the inventory on existing homes for sale across the country is 22% lower than just a year ago at 2.1 million according to the National Association of Realtors. According to N.A.R., this is largely due to a drop in forclosure & distressed homes. This dynamic has changes homebuilder sentiment to 46:100. A year ago that index was 19.

 

Regionally, we are seeing considerable increase in activity as buyers realize inventory is dropping, demand increasing and historically low interest rates… waiting will only cost more in the future.

PROUD TO DONATE

Monday, November 5th, 2012

Town & Country is proud to donate a portion of every rental commission from today throughout 2013 to the American Red Cross and The Group for the East End,a not-for-profit regional charity that protects and restores the environment right here on eastern Long Island with a focus on our valued waterways.
To assist our friends and families throughout the New York area, Town & Country is collecting clothing and soft goods to be donated to those in need.
B & N Moving & Storage has generously offered to deliver these collections directly to the Breezy Point Firehouse.
We invite you join us in our endeavor by visiting any Town & Country once with cleaned clothing bagged and marked in sizes on or before Friday, November 23.

Town & Country at a World Wide real estate fair in Beijing China!

Friday, November 2nd, 2012

Join us in congratulating our North Fork colleague James Gao, who is representing Town & Country at a World Wide real estate fair in Beijing China!
As we all know our economy is a global one and future buyers from Asia & Europe, are looking to purchase in our area.
This direct marketing with an Associate who speaks the language positions T&C as the leader once again!

EXISTING HOME SALES CONTINUE THEIR ASCEND

Tuesday, October 23rd, 2012

The National Association of Realtors reported on Friday that existing home sales in the U.S. were selling at a seasonally adjusted annual rate of 4.75 million units in September, or 11% more than in September of 2011. This was the 15th straight month of year over year gains in home sales.
The bitter sweet news of course is less inventory with 2.32 million homes listing this September – a 20% drop from last September’s inventory level and down 3.3% from the prior month. The last time inventory was this low was 2005.. that’s right—2005 was the top of the market for home sales!
Bittersweet… yes, as we have discussed so many times before, when the scales of supply & demand shift like this, it is a precursor to price increases. Sweet for the seller, bitter for the buyer who was trying to time the market… yes, we’re off the bottom!
The Mortgage Bankers Association released a report last week stating a 12% year over year increase in mortgage applications.
It’s like a perfect storm… historically low mortgage rates, lowest inventory levels since 2005, prices on the rise, rents on the rise… what could any buyer be waiting for?
Maybe a handwritten invitation? How about a text or email instead?

MORE GOOD NEWS FOR US HOUSING MARKET

Friday, October 19th, 2012

The Commerce Department confirmed what those of us in the real estate industry have been experiencing for months. The September figures are in and U.S. home construction rose 15% to a seasonally adjusted 872,000. Construction of single family homes also rose 11% to the fastest rate in FOUR YEARS! Projections for future housing starts jumped 12% via applications for building permits to an annual rate of 894,000…  also the highest since July of 2008.
Nationally, the construction rate increased 38% year over year.  The low point was 478,000 in the middle of the great recession – April 2009; and the height of 2 million in 2007 before the world changed.
Different regions of the country fared differently with the Northeast lagging though the recovery is fully established.  Keep in mind new home sales only account for approximately 20% of all home sales.
Best of all though, according to the National Association of Home Builders, each new home built, generates about $90,000 in tax revenues and creates approximately 3 JOBS and isn’t job creation the most important economic stimulator!

HAVE YOU READ THE NEWS???

Sunday, May 27th, 2012

Unless you live under a gigantic rock, you've had to notice the press Real Estate has had recently. We have been BLOGGING and discussing how our little microcosm of the world has enjoyed a healthy uptick since this past winter. More inquiries, more appointments, more showings, more sales! Some said it was a mild winter, some said it was the interest rates, some said it was the stock market…I believe it was not only all of the above, but also the fact that we're off the bottom! You can only stand on the sideline so long, before you just have to jump in…and that's exactly what happened. It's actually been 7 years since the height of the market – over all sales activity – That's a long correctionary market.

HEADLINES NOW READ:
Money.CNN.com–5/22/12– Homes Sales Surge in April, Up 10%…that was a year over year statistic on new home sales
ABC News.go.com–5/22/12-Home Sales Jump 3.4% in April…that was compared to the prior month for existing home sales
NYTimes.com – 5/22/12-New Home Sales Climb in April…similar coverage to CNN
Newsday.com-5/24/12-East Hampton Home Sales Boost Green Fund..the Peconic Bay Regional Community Preservation Fund collected $6.1M in April 2012 22% more than 2011.

The reports just keep coming. Finally, the media has stopped it's Real Estate bashing, and guess what…that's right, buyers began feeling more comfortable with their decision to buy! Sometimes all it takes is reassurance to move a market-confidence the world isn't going to crack open and suck us all in. Enjoy the healthy market conditions!