News You Can Use
PRICES STABILIZE in Georgia in May
New Listings in the state of Georgia decreased 9.0 percent to 12,925 in May. Pending Sales were up 30.1 percent to 9,475. Inventory levels shrank 30.6 percent to 49,996 units. Prices were mostly stable. The Median Sales Price increased 0.9 percent to $106,382. Days on Market was down 5.6 percent to 89 days. The supply-demand balance stabilized as Months Supply of Inventory was down 41.1 percent to 6.9 months.
When monitoring residential real estate activity, it is always important to keep tabs on the overall economy and job growth. Preliminary Q1-2012 GDP growth came in at 2.2 percent which, while disappointing to some observers and slower than Q4-2011, still signals economic expansion and not contraction. Expedited bank processing and easing lending standards are also encouraging developments.
CLICK HERE to access GAR’s Monthly Housing Indicator Reports. You must be logged in to the GAR Web site to view this page.
HomeFinder.com
Offers Agent Makeover Sweepstakes
HomeFinder.com has announced its 2012Agent Makeover Sweepstakes, in which five winning real estate agents will be chosen at random to receive a comprehensive digital business and personal style makeover. Winners receive: an all-expense-paid, two-night trip to Chicago, business coaching, educational training on online marketing, a full style makeover and a professional photo shoot. All licensed real estate agents are eligible to enter the sweepstakes, which will run through August 10, 2012.
HomeFinder.com’s goal in launching this inaugural industry program is to help offset some of the difficulties the industry has faced over the past few years. In addition to the recessions’ effect on homeowners and sellers, the 500,000 U.S. real estate agents and brokers have clearly felt the severity of the housing collapse. NAR reports a 25 percent decrease in the number of members from 2007 to 2011.
Contestants may enter the contest twice: once by visiting
www.homefinder.com/agentmakeoverand once through
www.Facebook.com/homefinderdotcom. Winners will be chosen on August 15, 2012, and contacted directly.
Do You Have the Right Insurance?
It may seem like nearly everything can be insured, so knowing whether you have too much insurance — or not enough — can be difficult. Jeff Wuorio, of MSN Money, suggests simplifying this process by thinking about insuring just two things: your life and your stuff.
Life Insurance
Life insurance is important for your family if something happens to you. Funeral and burial expenses are just the beginning. Think about how much your family has to have to maintain their current standard of living. Then compare term insurance and whole life insurance policies. Your employer may offer basic insurance that you can add to over time. You should also speak to your Nationwide agent to figure out what coverage fits your situation.
Homeowners, Renters and Auto Insurance
The rationale behind carrying insurance on expensive assets is the ability to replace them if they are destroyed. If you own a home and have a mortgage, homeowners insurance is mandatory and is often built into your monthly payments. Ask your Nationwide agent about adding guaranteed replacement coverage. Also ask about flood or earthquake coverage if your home is in an area that may be affected by these events. If you rent, ask your Nationwide agent to go over the assumptions in your policy with you. As you “trade up” for nice things through the years, you may need to increase your coverage.
You are required to carry automobile insurance in most states. Liability protection is a must. If you have a motorcycle, boat, ATV or other motorized equipment, talk to your Nationwide agent about putting all of your policies together.
Save even more when you add a special discount just for being a member of the Georgia Association of REALTORS. Get a free QUOTE ONLINE or call The Mayo Agency, LLC 877.823.1070.
8 I GEORGIA REALTOR JULY I AUGUST 2012
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