The following is an article by Stephanie Singer we thought we would share with our friends.
NAR Campagin Relates Real Facts About Real Esate
The National Association of Realtors® is reaching out to consumers with facts about homeownership and the value of real estate as a long term investment. Would-be homeowners who are uncertain about their home buying plans can learn more about the options available to them and the long term benefits of owning a home through a new advertising campaign that will provide current, relevant housing data to help make informed decisions about buying a home.
Over the past 30 years, the median price of existing homes has increased an average of more than 6 percent every year, and home values nearly double every 10 years, according to historical data from NAR’s existing home sales series. A federal reserve study has shown that the average homeowner’s net worth is 46 times the net worth of the average renter. Despite this and other research, some potential homebuyers are being kept on the sidelines as they react to the national media reports about the housing market.
“Nobody buys a home in the national real estate market,” said NAR President Dick Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif. “All real estate markets are local, and buyers and sellers who are thinking about making a move should consult with Realtor® in their local market to learn about conditions in a specific area. It’s also advisable to look beyond the immediate horizon- real estate has proven itself to be a good long-term investment and a safe, secure way to build long-term wealth.”
According to NAR’s most recent forecast, existing-home sales are likely to total 5.66 million in 2007, the fifth highest on record, rising to 5.70 million in 2008 and 5.91 million in 2009. Existing-home prices are likely to be down 1.9 percent to a median of $217,600 for all of 2007 which is good news for buyers; prices are expected to hold steady in 2008, and then rise 3.1 percent in 2009 to $224,400.
The campaign includes a new Web site, www.HousingMarketFacts.com, which provides more information about the benefits and value of owning a home, identifies current public policy issues of importance to consumers in the real estate transaction and allows visitors to link directly to www.RALTOR.com to find a Realtor®.
The ads are part of NAR’s Public Awareness Campaign. For more than a decade, the Public Awareness Campaign has helped millions of consumers realize the value of using a Realtor to help them buy or sell real estate, and is now educating consumers about the value of housing as a long-term investment. In 2008, campaign ads will be broadcast nationwide from January through November and will air more than 10,000 times on national TV and radio outlets. Local and state Realtor® associations are encouraged to coordinate with the campaign in their markets with local radio, TV and print buys. To learn more about the Public Awareness Campaign, visit www.realtor.org/awarenesscampaign.com.
John Veytia
Keller Williams® Realty
32351 Coast Highway
Laguna Beach, CA 92651
Phone: (949) 415-0111
Toll Free: (800) 564-6112
Email: john@veytiagroup.com
