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The Real Estate Market Is Recovering

by Doug & Gwen Campbell at Sun Bay Associates

This article is from and gives a very positive outlook on real estate for the next several months.  It is well worth reading.

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March Pending Home Sales Rise, Market Recovering

Posted By susanne On April 29, 2012 @ 1:06 pm In Business Development,Business Outlook,Consumer News and Advice,Finance and Economy,Real Estate Information,Real Estate News,Real Estate Trends,Today's Marketplace,Today's Top Story,Today's Top Story - Consumer | Comments Disabled

[1]Pending home sales increased in March and are well above a year ago, another signal the housing market is recovering, according to the National Association of REALTORS®.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 4.1 percent to 101.4 in March from an upwardly revised 97.4 in February and is 12.8 percent above March 2011 when it was 89.9. The data reflects contracts but not closings.

The index is now at the highest level since April 2010 when it reached 111.3.

Lawrence Yun, NAR chief economist, said 2012 is expected to be a year of recovery for housing. “First quarter sales closings were the highest first quarter sales in five years. The latest contract signing activity suggests the second quarter will be equally good,” he says.

“The housing market has clearly turned the corner. Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses,” Yun says.

The PHSI in the Northeast slipped 0.8 percent to 78.2 in March but is 21.1 percent above March 2011. In the Midwest the index declined 0.9 percent to 93.3 but is 16.9 percent higher than a year ago. Pending home sales in the South rose 5.9 percent to an index of 114.1 in March and are 10.6 percent above March 2011. In the West the index increased 8.7 percent in March to 108.0 and is 9.0 percent above a year ago.

The National Association of REALTORS®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales; it coincides with a level that is historically healthy.

NOTE: Existing-home sales for April will be reported May 22, the next Pending Home Sales Index will be released May 30 and first quarter metro area home prices will be released May 9; release times are 10:00 a.m. EDT.

For more information, visit [2].

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A little reflection of what is really valuable.

by Doug & Gwen Campbell at Sun Bay Associates

Gwen and I are a very good team of Realtors. We are reliable, prompt, honest and all the other stuff one would expect from a really good Realtor. This weekend gave me pause to consider what is the real value of my profession and my life. For the second time in a month we attended a memorial service for a friend who was taken too early by cancer.

At the services for both of these truly gentle men, who also personified the word "gentleman", time after time friends and family members stood up to offer a few words. And time after time they talked about how much they loved their wives and their families, people told funny stories of how both men interacted with friends, and how at the end both men, knowing the end was very near, talked about how much they would miss their wives and their children.

Not once did anyone talk about how these truly wonderful, and successful men, wished they had spent more time away from their family working at their jobs.

The stories of devotion to family and sharing their time with the communities they lived in made me wonder how important is it not to be at a child's birthday party because someone really needs to see a house they truly won't buy on Saturday afternoon. Should a really successful Realtor invest a full day driving people around to look at as "many houses as I can see today" so they will know what is available. We don't often do this, since we usually can give our customers more than enough information to make informed decisions before even getting in the car. Do you do it?

How many agents give up their family time, especially on a weekend, in the hopes of getting a commission? We have set boundaries for our customers, and are thinking about re-setting them. Even a Realtor has the right to quality of life. The market isn't as bad as the media makes it out to be, people are still buying houses. Set the expectations of your customers up front and it is amazing how almost all of your customers will accept them. If someone wants you available 24/7, just maybe you don't need that particular commission check. Think about what is the real value of your profession, and your life.

I always plug in a hotlink to my website to promote a listing. For this particular message, I am simply asking you to visit our website,

Are you living to work, or are you working to live? Have a great week.

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Contact Information

Photo of Gwen and  Doug Campbell - Sun Bay Realty Group Real Estate
Gwen and Doug Campbell - Sun Bay Realty Group
at Keller Williams Realty
30522 US Hwy 19N, Suite 107
Palm Harbor FL 34684
Doug's Cell 727-741-4189
Gwen's Cell 727-741-7260
Fax: 888-447-7908