By now you have seen numerous news reports concerning the “Fiscal Cliff.” Many of these reports speculate that a change to the long-standing policy that allows homeowners to deduction mortgage interest payment from their income taxes could be part of a “Fiscal Cliff” deal.
NAR’s position is that the mortgage interest deduction is vital to the stability of the American housing market and economy and we will remain vigilant in opposing any future plan that modifies or excludes the deductibility of mortgage interest.
Do you know that special person who deserves to be recognized as PCAR’s REALTOR, Affiliate or Honorary Member of the Year? If so, applications are now available! Click on the link below to print out the applications. Deadline to turn in the applications is Monday, December 3rd. All applications are suggestions that go to the Board of Directors for review and selection. The winner of each award is revealed at the PCAR Installation on Thursday, January 10th at Thunder Valley.
Click here for more info…
Highest number of closed sales EVER during the month of May…
Placer County real estate agents have just sold the highest number of resale properties ever for the month of May. January, February and now May have set records in 2012 for the highest number of sold properties during those months ever. Is the market recovering?
A few more facts… the median price for resale properties in Placer County is up year-over-year for the last two years while the number of properties for sale (inventory) is down and appears to be approaching 2003 & 2004 levels. Many agents are reporting multiple offers within 48 hours of a property being listed. It is not uncommon to hear that a property had 15+ offers within 48 hours or less.
So, what do we have? In a nutshell, we have record numbers of properties being sold, median prices creeping up, inventory decreasing (some say we really only have about 1.5 months of inventory due to the way certain statuses are applied to short sales). Are we in a seller’s market? Some would certainly say ‘Yes’.
Check out the statistics for May by clicking here.
Geoffrey Poulos of Residential Brokerage in Granite Bay was installed as our 2012 President at our annual installation luncheon in January. President Poulos’ theme — “Protecting Home Ownership” — is a reminder for all of us to get involved with our local, state and national elected officials and proposed legislation in order to protect home ownership. President Poulos was “sworn-in” by Diana Bull.
Rick Bluhm was awarded with the 2011 REALTOR of the Year honors at our 2012 Installation luncheon in January. Rick has been serving the association for well over 20 years. He has served in our local government relations arena for the past 15 years. Rick works at Century 21 Select in Lincoln. Rick Bluhm is pictured with Ben Herb from Century 21 Select in Roseville.