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US real estate inventory is at a record low, prices at a record high

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From White Picket to Upcycled Pallet Fences: Millennials and Housing

From White Picket to Upcycled Pallet Fences: Millennials and HousingPosted: 20 Nov 2013 04:00 AM PSTWe are happy to have Jim Haney as our guest blogger today! Jim is a finance writer, working to ensure greater public understanding of the ins and outs of the housing industry. – The KCM CrewCritiques and defenses about Millennials abound. However, I think an overlooked aspect of the kerfuffle over Generation Y is the question "Why?" Although it is great to spur the generation on to great heights, it is crucial we understand some of the hurdles they are facing, economically and socially in order to anticipate how the market will have to change and adjust to accommodate a new generation's capabilities and values.Educational Debt & CreditNo big newsflash here: millennials are facing unprecedented levels of debt, between the various recessions, housing bubbles, and explosion of educational debt. New legislation in the works is attempting to help set up a more stable higher…

MONOGRAM COMPANIES AND TOM CHAMBERS PROPERTIES PURCHASE YOUNG'S FARM:

We all have fond memories of Young's farm and growing up in The rual Prescott area....but change is change if not good. The farm couldn't support itself and like all things this too must change...here is an artivcal I found interesting. -Prescot Real Estate News

Mixed-use community will honor Dewey-Humboldt’s rural character and Young’s Farm heritage

Scottsdale, Ariz., -- Jan. 23, 2006 – Monogram Companies, an experienced developer with a history of building appropriately scaled neighborhoods that enhance existing communities, and Tom Chambers Properties Inc., announced today the purchase of Young’s Farm. The planning process is underway; however the Young family will continue to operate the farm through 2006. The appropriately scaled, low-density residential and commercial village will include retailers such as a bank, grocery store, restaurant and the farmers’ market to provide services to the people of Dewey-Humboldt and visitors.

Monogram specializes in creating communities tha…

Home Sales Stats Just Released

Sales of previously owned homes in America fell less than expected in August, as prices fell from a year earlier, the National Association of Realtors said yesterday.

(note Silver Lining: Most economists agree that this gives the Federal Reserve even more reasons to halt any future increases and consider a reversal of the consecutive rate hikes we have all felt).

The median price of a home was $225,000 in August, compared with a revised $230,000 in July. Last month's price was 1.7% below a year earlier, making it the first year-to-year median price decline since April 1995. Some predict as the inventory of homes gets smaller prices may hold stable or even get stronger

Economists claimed that this correction was overdue and that many consumers wishing to sell their homes want to get the most out of their appreciation. Thus they are demanding unrealistic prices for their homes. In many parts of the country home values increased 50% over the last two years.

NAR Chief Economist David Lere…

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