Thursday, January 22, 2015

Carpe Diem- Thought leadership & January Real Estate Newsletter from your trusted advisor

 
 
January 2015
 

Economic Growth Expected to Fuel Housing in 2015
A recent report from Kiplinger’s suggests that the economy is expected to grow by 3% or better in 2015, which would result in the best annual growth rate since 2005. A substantial factor for the growth is the forecast of continued monthly job gains in the new year. Unemployment could drop to 5.5 percent by the end of 2015, and wages are projected to increase by 3% or greater for many companies.  Economic growth, combined with low mortgage rates is likely to spur growth in the demand for real estate. 
 
A Healthier Housing Market in Chicago 
Things are looking up for Chicago as market conditions are expected to continue improving into 2015. Chicago Tribune reports that some reasons for this include fewer problem loans which lead to fewer foreclosures, affordability which peaks the interest of current renters to buy, the return of condominiums to the market, and loan incentives. 
 
Home Sell Faster in February Says National Study 
Sellers often wait until the spring season to put their house on the market, however a recent study conducted by Redfin shows that winter may actually be the most ideal time to list a home. Researchers took nationwide home listings, sales prices, and time on the market data from 2010 through October 2014 and found that February is historically the best month to list, with an average of 66 percent of homes listed during that month selling within 90 days. A couple of possible reasons for this are less competition in the market, and large corporations conducting new hires and in-company transfers early in the new year.
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good to know
 
New Year’s Resolutions…for Your Home!  
As the new year commences, many people create lists of resolutions that they would like to complete throughout the year for a fresh start. HGTV offers some resolutions to be considered for the household! Some of the suggestions they offer are to declutter your space, take proper steps to make your home more safe, and ways in which you can create a weekly system to keep your place clean. To read more details about these resolutions and more, please click here.
 
And the 2015 Pantone Color of the Year is…
Pantone has selected Marsala as their 2015 color of the year. The red wine color was selected for its gender neutral appeal, flattering appearance on numerous skin tones, and its ability to bring warmth to home interiors. To read more about Pantone’s selection, please click here.
 
Protect Your Home While Traveling 
Whether it is for business or pleasure, 2015 may have you traveling a bit more than last year. Whatever the reason may be, no one likes to worry about their home while they are away.  USA Today proposes steps you can take before you leave, while you are away, and after you are back from your destination that will help you protect your home during your trip. Some tips include installing lights and a home alarm before you leave and enlisting help from others to watch your home while you are away. To read the entire article for other tips, please click here.
 
 
Ron Goldstein
Luxury Broker Associate
RGoldstein@koenigrubloff.com
3127717190
www.chicagoluxuryrealty.com
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