February, 2020

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Manhattan Co-op Sales Fall During Federal Election Year

Miller Samuel

For the past decade, I've been observing a pullback in sales in the summer of an election year and then a release in sales after the election into the new year, no matter the party or the candidate. I was speaking about this to Sylvia Varnham O’Regan at The Real Deal Magazine , and she asked me to prove it empirically. So I did. Her article: This is how presidential elections really affect home sales lays it out for the Manhattan market.

Contracts 195
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Continued inventory shortage

Annarbor Appraisal

Washtenaw County, like much of the nation, has a continued inventory shortage. This shortage is heavily concentrated in the starter market. Comparing the same period last year to this, the number of sales and listings have dropped across the board. At this time last year, 3,609 single family houses had changed hands through the MLS in a one-year period.

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How to Build Equity in Your Home

Appraisal Partners Blog

How to Build Equity in Your Home. Published on: January 21, 2020 – By Lexi Klinkenberg. Building home equity is one of the many financial benefits to homeownership, but sometimes it’s hard to know where to start. Increasing your property value through renovations or home additions, and paying off your mortgage, seem like the most straightforward ways to build equity.

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National vs Local Trends: "Reversion to the Mean"

Town & Country Residential Appraisals

Above: 1970-2019 National median home price % increase VS. home construction % increase. There is lots of talk of national home prices increasing since 2008 and having stalled in 2018-2019 and what the possible causes could be, but what does that have to do with our local market. For years the national trend has been increasing at around 3% per year, however, very few areas in western Pennsylvania have seen this kind of return.