The New England Patriots pulled no punches in its obliteration of Tim Tebow’s Denver Broncos. A clearly superior team and quarterback were more than sufficient to advance past the Broncos, one step closer to the Super Bowl. Of course, it was something of a miracle that the Denver Broncos were even in the playoffs. How is it that a team destined to mediocrity could grab the NFL spotlight and shine as a Super Bowl contender?
Many believe that very few houses are selling and that almost no one can get a mortgage. We want to let everyone know that neither of these assumptions is true. Recently, the National Association of Realtors (NAR) released their Existing Homes Sales Report. According to the report there are, on average, 12,109 homes selling in the United States EACH and EVERY DAY! That means that approximately 12,000 houses sold yesterday, approximately 12,000 will sell today and approximately 12,000 will sell tomorrow. So the thinking that homes aren’t selling just isn’t true.
Another interesting fact in the report was that 72% of these transactions were accompanied by a mortgage. That means that approximately 8,719 people qualify for a mortgage on a daily basis in this country.
There are over 12,000 homes sold and over 8,000 mortgages granted every day. The real estate market is doing better than many believe.
Go here to read how Utah’s housing market is doing, and here to read about how home sales have increased across the country.
Thanks to our friends at KCM blog for this post.
On top of the 38% increase in existing home sales Utah enjoyed in Q3 2011 (over Q3 2010), our state’s inventory has been drastically reduced. This is supply and demand 101 folks. Supply is declining, both existing (on the market) inventory and shadow inventory (pent up foreclosures not released to market by banks) are down.
Simply stated supply is down, demand is up and home prices should follow.
By Dr. Steve Sjuggerud
Tuesday, December 6, 2011
Last night, I was out to dinner with a couple of the most successful guys I know – and they were giving me a hard time.
They were ribbing me about what Porter Stansberry calls the “Sjuggerud Advantage.”
Hey, I can take it… The Sjuggerud Advantage, as I’ll explain, is a major secret to my life’s success.
The nice part is anyone can do it… The Sjuggerud Advantage requires no special skills. Let me tell the story…
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