Last Years Homebuyer Already Upside-Down
March 29, 2011
If you have been reading any of my articles regarding home sales over the past several months, this will not be surprise. In February 2011 Kansas home sales fell by 7.7% compared to last year according to the Kansas Association of Realtors® (KAR, 8,500+ members). Although the President of KAR makes excuses for the sales short-fall by saying "Part of the drop reflects the stronger than usual sales in February 2010 due to the
homebuyer tax credit last year, nevertheless, year-to-date sales are up 12.1 percent.' Members of my website know better, they understand what "sales" really mean to these "Masters of Spin". I guess they figure the public is to dumb to handle the truth.
Take a look at these numbers from the from both KAR and the National Association of Realtors® and see if they make sense to you. The statewide average sale price last month was $139,685, compared to $142,263 in February 2010. This represents a decrease of 1.8%. The statewide median sale price last month was $122,000 compared to $126,000 for the same period last year, this represents a decrease of 3.1%. According to the National Association of REALTORS®, the median home price in the Midwest fell 5.4% to $122,000. The national median existing home price was $156,100 which is 5.2% below last year. The median price is where half sold for more and half sold for less. Here's the weird part -all these numbers are lower than last year (2010), but somehow sales are up 12.1%. Do you get the feeling somebody is playing with the numbers or is it just me?
Lets face it, the economy was better last year than it is this year and there are no sign of any improvement in the near future. I'll bet the buyer's who believed what the real estate lobbing organizations like NAR & KAR told their sheep (member real estate agents) are disappointed now. Those sold buyers have already seen a loss in value of their home by 3.1%. It reality, over the last 12 months they have become upside down in their largest investment. Isn't that what started the entire real estate bubble in the first place?
Are you ready to start receiving the truth? Be sure and read my article next Monday when I give you my thoughts of when to buy and sell your next home. Tell all your friends to sign up for my "Free Real Estate Tips" so they don't miss out.
The term REALTOR® is a federally-registered trademark owned by the NATIONAL ASSOCIATION OF REALTORS®, and denotes membership in the non-profit Association.
248 Responses to “Last Years Homebuyer Already Upside-Down”
I'm Todd Carrison. After being a real estate broker for one of the area's largest real estate companies and closing more than 1,000 real estate transactions, I've decided to teach you what other real estate agents simply won't.
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