When I think of April, I think of Spring, Easter, warm weather, pretty much anything but new homes.  The housing industry thinks new homes are worthy of their own month for a couple of good reasons.  There is a huge link between new home building and the health of the US economy.  Historically, 17% of the Gross Domestic Product is tied to the new jobs and income, purchase of goods and services, and revenue for local governments generated by new residential construction.  The employment effects are 50% in construction and 50% in other industries.  The income earned is spent and recycled in the local economy.  The bottom line is new homes strengthen the economy year round.  I guess they can have April too.

Read more on the impact of new housing on the economy here:  http://rismedia.com/2011-04-06/new-homes-strengthen-economy-year-round/

Marc

Marc Austin Highfill
Exit First Realty
Office:  804-527-3948
Cell:  804-840-9824
Email:  marc@marcshomes.com
Visit our website to find out more about my 99 Day Guarantee at www.ExitFirstGuarantee.info

I'm always looking for encouragement that the economy is improving.   Since I have a college age son who will be working this summer, this article seems like another indication that things are looking up.  CNN says that there will be more jobs for seasonal workers this summer.  While there will be fierce competition, the hourly positions will pay better than last year.  If there is a need for more workers, there must be more demand for products and services and people must be spending more money.  All sounds good for the economy to me.

Read the article here:  http://money.cnn.com/2011/03/24/pf/summer_jobs_outlook/index.htm?iid=HLM

Marc

Marc Austin Highfill
Exit First Realty
Office:  804-527-3948
Cell:  804-840-9824
Email:  marc@marcshomes.com
Visit our website to find out more about my 99 Day Guarantee at www.ExitFirstGuarantee.info

Investment Opportunities Not Going Away

A recent CNNMoney article entitled, "Foreclosures Make Up 26% of Home Sales" states that even though home prices are down, sales are up and deals are getting done.  That is because 26% of all homes sold last year were foreclosures or short sales.  Bargain hunters are buying and holding properties.  They buy at a good price and then rent it out.  These investment opportunities are not going away.  Nearly 30% of mortgage borrowers are underwater on their loans.  These owners are vulnerable to foreclosure so the number of distressed properties that will go on the market in the next year or two will probably remain high.  Read the entire article at this link.

In a somewhat contradictory article, CNN Money also reports that the number of foreclosure notices filed in February 2011 dropped 14% compared to a month earlier and 27% compared with a year ago according to RealtyTrac.  This could be an artificial drop as some mortgage servicers have slowed their foreclosures as they wait to see how settlement talks surrounding the robo-signing mess play out.  The good news out of this is that even if the decline is artificial, new home builders will find it easier to compete in the market.  New home builders have had trouble competing with the low prices on repossessed homes.  Home building contributes significantly to the overall economy more so than the sale of existing homes.  Read more here and make up your own mind of where it is all headed.

Marc

Marc Austin Highfill
Exit First Realty
Office:  804-527-3948
Cell:  804-840-9824
Email:  marc@marcshomes.com
Visit our website to find out more about my 99 Day Guarantee at www.ExitFirstGuarantee.info

Warren Buffet recently published his annual shareholder newsletter and it makes interesting reading for anyone in business.  I know you might not be concerned with the stock of Berkshire Hathaway, but you'd be foolish to overlook his annual letter.  The reason is because he shares insights, mistakes made and lessons learned on running various businesses.  Plus he is just one successful dude.  Skim the letter here and see what you can learn from one of the richest men in the world.

Marc

Marc Austin Highfill
Exit First Realty
Office:  804-527-3948
Cell:  804-840-9824
Email:  marc@marcshomes.com
Visit our website to find out more about my 99 Day Guarantee at www.ExitFirstGuarantee.info

I just saw this article in the Wall Street Journal that predicts that the 2011 housing crash may be ending. It lays out the economic signs that a bottom is close and suggests a "buy and hold" strategy to ride out the prolonged recovery.

Read it here: http://online.wsj.com/article/SB10001424052748703796504576168822497423738.html?mod=googlenews_wsj

Marc Austin Highfill

Exit First Realty
Office: 804-527-EXIT
Cell:  804-840-9824
Email: marc@marcshomes.com
Visit our website at www.marcshomes.com to find out more information about our 99 Day Selling Guarantee

We all know about basic household carcinogens - aerosols, fertilizers, and cleaning chemicals.  But did you know that other common household products may also contain cancer causing agents?  Yahoo Green! lists some of the items in your home that you may have never suspected could cause you harm.

http://shine.yahoo.com/event/green/8-known-carcinogens-to-remove-from-your-house-2452966

Marc
Marc Austin Highfill
Exit First Realty
Office: (8 04) 527-3948
Cell: (804) 840-9824
Email me: marc@marcshomes.net
*To learn more about my 99 Day Guarantee, visit: www.ExitFirstGuarantee.info

You may have heard about this by now, but two major lenders have dropped their additional overlay requirements on FICO scores.  Overlay requirements are more strigent qualification requirements that lenders sometimes impose in addition to FHA requirements.  This is great news for first time home buyers who usually struggle with down payments and lower credit scores.  Read more here:

http://www.inman.com/buyers-sellers/columnists/kenharney/ficos-and-fha-2-big-lenders-loosen

Marc

Marc Austin Highfill
Exit First Realty
Office:  804-527-EXIT
Cell:  804-840-9824
Email:  marc@marcshomes.com
Visit our website at www.marcshomes.com to find out more information about our 99 Day Selling Guarantee

If you start to follow my blog, you will soon learn that I am a die hard Green Bay Packers fan.  As you can guess, I've been flying high since Sunday's victory.  I came across this comparison of Steeler real estate to Green Bay real estate and couldn't help but wonder if there was karma in play on Sunday.  Looks like the Steelers have been enjoying their previous success to excess and may have lost their focus.  Click here to see how they live.

  Super Bowl XLV: Where Roethlisberger, Rodgers and Coaches Live

Marc

Marc Austin Highfill
Exit First Realty
Office:  804-527-EXIT
Cell:  804-840-9824
Email:  marc@marcshomes.com
Visit our website at www.marcshomes.com to find out more information about our 99 Day Selling Guarantee

Marketwatch.com ran a story comparing real estate to other investments, such as the stock market. Here's a quote from the story:

"...with home sales starting to improve, and with prices now possibly forming a bottom, real estate could well be the asset class that represents the best low-risk buying opportunity out there today. "

This is an excellent article and is a must read. You'll find it at this link.

Marc

Marc Austin Highfill
Exit First Realty
Office:  804-527-3948
Cell:  804-840-9824
Email:  marc@marcshomes.com
Visit our website to learn how I will sell your house in 99 Days - Guaranteed

One of my New Years resolutions was to use social media to stay connected with my clients.  So far, I'm keeping it up.  But I definitely will make sure I filter my posts and keep it all professional after reading this article.  The bottom line is that anything you put out on Facebook, Twitter or a blog is public information and can be used for good or bad by the reader.  Think before you type.  You'll see why after reading this article.

8 Shocking and (Hilarious) Social Media Gaffes

Marc

Marc Austin Highfill
Exit First Realty
Office:  804-527-EXIT
Cell:  804-840-9824
Email:  marc@marcshomes.com
Visit our website at www.marcshomes.com to find out more information about our 99 Day Selling Guarantee