Archive for September, 2009

The Value of Homeownership

Monday, September 21st, 2009

Homeownership may be the most important asset-building strategy for individuals. The value of homeownership gives homeowners a feeling of control, a greater sense of security and stability.

Homeownership is typically given a lot of importance and homeowners are generally allowed to do whatever they wish in their homes. Homeowners have the right to make choices and decisions regarding changes to their homes that renters may not be able to make.

Homeownership is a financial goal most families share. There are significant community benefits to homeownership as well. Owning a home gives residents a stake in the community and a sense of “rootedness” in their neighborhoods. Enjoying the privacy that a home brings, making long lasting friendships with neighbors and best of all taking pride in your home. The pride you’ll feel in owning and improving your home is an emotional value that cannot be expressed in dollars and cents. The value of homeownership has been thought to pro-mote thrift, stability, and neighborliness.

Homeownership is thought to be an important element in achieving personal fulfillment. When asked to define the good life, polls have shown that many Americans value owning a home over such factors as an automobile, a happy marriage, an interesting or high-paying job, and good health. The value of homeownership is credited with increasing self-esteem, life satisfaction, and an overall feeling of worth. Owning a home embodies the promise of individual independence but there are also many responsibilities that come with owning a home. The value of homeownership has been thought to pro-mote thrift, stability, and neighborliness.

If you are looking to buy your own home in Bullhead City, Fort Mohave, Mohave Valley Arizona areas, these are some points to consider when seeing the value of homeownership. Allow me, your Real Estate agent, Michael Fahey to help you see the value of homeownership.

Median Sales Prices on the Rise

Tuesday, September 8th, 2009

Wow! August single family home sales in Bullhead City, Fort Mohave and Mohave Valley leaped in front and took the lead reporting a record of 99 sales. As I mentioned in my February update, I felt all real estate market indications were showing that we would finish strong in sales for 2009. This is definitely true as of the end of July 2009 we have enjoyed 656 single family homes sales. Contrast this number with the 645 sales we saw in all of 2008. With 268 single family homes pending/under contract and 4 month remaining in the year, I believe we could see more than 900 sales for 2009.
Foreclosures continue to lead the pack and making up of 61% the sales for the month. Short sales accounted for 7% of the sales. On a positive note of the “regular home sellers” Country Ranch Realty successfully sold 33% of that market. We definitely have the strategies to help our home sellers get their property sold.
Perhaps some of the best news is that for the first time in 2 months we saw the median sales price increase. August median sales price was $136,000 up from July of $130,000. The average sales price jumped to $151,557 in August over $137,712 in July.
The American Recovery and Reinvestment Act of 2009, which has provided an $8,000 tax credit for first time homebuyers who purchase their primary residence is coming to an end. Unless the government extends this Act, buyers must close escrow prior to November 30, 2009.
Considering purchasing real estate in the Bullhead City, Fort Mohave or Mohave Valley Arizona? Give us a call and let us help you achieve your real estate goals.