Reflecting On 2011 Real Estate Market in Truckee CA & North Lake Tahoe
Are you curious how the Truckee CA real estate market has weathered in 2011? As the economic tides ebb and flow, here are the numbers comparing 2010 to 2011, showing the market activity in specific areas in or around Truckee and North Lake Tahoe.
Unemployment Hits 3 year Low, An Article by Truckee CA Mortgage Consultants OMG
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“Workin’ nine to five. What a way to make a livin.’” Dolly Parton. And with last week’s Jobs Report showing that unemployment has reached three-year lows, that’s something more people have been able to do lately. Read on to learn more about what’s happening in the labor market…and with home loan rates.
On Friday, the Labor Department reported that 200,000 jobs were created in December, with 212,000 private job gains offsetting modest losses in government jobs. Adding to the positive spin of the report was the Unemployment Rate falling to 8.5% from a previously reported and upwardly revised 8.7% reading.
While people being removed from the labor force are skewing this unemployment number to some degree, it’s important to note that the U-6 unemployment rate dropped a few ticks as well, to 15.2%. This number includes ALL unemployed individuals, including those “marginally attached” to the labor force, who are either ‘discouraged’ and haven’t sought work recently, as well as those folks working part-time who really desire full-time jobs.
Overall the Jobs Report was a modestly positive reading on the labor market. We still have 5.6 million people unemployed for 27 weeks or more, and that number is little changed this month. But the big takeaway today is that the trend is improving.
The other big takeaway is that bad news out of Europe helped balance out the good Jobs news here at home…allowing Bonds and home loan rates to recover from their initial negative reaction to the Labor Department’s report. The Euro is continuing to be weighed down by rising concern on member countries’ ability to get their deficits in order and their debt in manageable position.
The bottom line is that the problems in the Eurozone are vast, complicated, and without easy solutions…so it will take a very long time for clear resolution. And during times of global uncertainty, money will flow into the relative safe haven of the US Dollar and US Bonds – including Mortgage Bonds, which home loan rates are tied to. This means that home loan rates should continue in their sideways trend and remain near historic lows, making now a great time to purchase or refinance a home.
Truckee CA Real Estate Market Update – Glenshire, December 2011
As the economy fluctuates, so does our local Truckee Ca real estate market. Stay ahead of the curve by knowing what is selling in your neighborhood or potential neighborhood. Below, please find a chart comparing July – December 2010 to July – December 2011, as well as the details for what has sold in Truckee CA Real Estate, specifically the Glenshire area. Contact Carmen Carr today for an in depth evaluation of our real estate market in Truckee CA.
Real Estate Market Statistics for Tahoe Donner CA – December 2011
As the economy fluctuates, so does our local Tahoe Donner real estate market. Stay ahead of the curve by knowing what is selling in your neighborhood or potential neighborhood. Below, please find a chart comparing July – December 2010 to July – December 2011, as well as the details for what has sold in Tahoe Donner CA Real Estate. Contact Carmen Carr today for an in depth evaluation of our real estate market in Truckee CA.
News Flash- Pending Home Sales Jump
Pending home sales rose 7.3% in November to the highest level in 19 months, according to an industry trade group. The National Association of Realtors said its pending sales index rose to 100.1 in November from a revised 93.3 in October, and it’s now 5.9% above its year-ago level. “Housing affordability conditions are at a record high and there is a pent-up demand from buyers who’ve been on the sidelines, but contract failures have been running unusually high,” said Lawrence Yun, NAR’s chief economist. “Some of the increase in pending home sales appears to be from buyers recommitting after an initial contract ran into problems, often with the mortgage.” By region, pending home sales rose 14.9% in the West, 8.1% in the Northeast, 4.3% in the South and 3.3% in the Midwest. An index reading of 100 is equal to the average level of contract activity during 2001. A sale is listed as pending when the contract has been signed but the transaction has not closed. Not all contracts lead to closings
