Ben Franklin

BENJAMIN FRANKLIN INSPIRES BUYERS TO SUCCEED

Written by PJ Wade on Monday, 24 November 2014 1:48 pm

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thank you PJ

Everyone is in a hurry these days and real estate buyers are no exception. In their haste to get the deal done, they can undermine the success of their significant purchase and their long-term goals.

Benjamin Franklin's observation that "Haste makes waste" serves as an excellent summary for the tendency of many buyers to act too quickly and, therefore, not gain all the benefits available to them.

Haste to read listings and view properties can mean many buyers leap into the buying process before they are sure of what they want and need, and before they are aware of all their financial and real estate options;

Haste to squeeze a real estate purchase into already jam-packed schedules and smartphone-driven communication overload can add pressure that results in hastily-made, misguided and hard-to-live with decisions;

Haste to act in high-pressure and multiple-offer situations may lead buyers to jump at a property without a clear picture of what they are buying and what compromises they are making.

Slowing down the buying process once it gets started can be a challenge since real estate is all about acting on urgency. Once you view an acceptable property the question becomes, "Are you ready to make an offer or will you risk losing out?"

The key to success lies in developing "smarts" before you jump into the sales funnel and face the pressure of making an offer. Start by taking time to learn how to act in your own best interest beforeyou dig through listings, view properties, and make a choice then you'll benefit on many levels.

National Housing Outlook

NEW RESIDENTIAL CONSTRUCTION IN OCTOBER 2014
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for October 2014:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,080,000.  This is 4.8 percent (±1.3%) above the revised September rate of 1,031,000 and is 1.2 percent (±1.2%) above the October 2013 estimate of 1,067,000.
Single-family authorizations in October were at a rate of 640,000; this is 1.4 percent (±1.2%) above the revised September figure of 631,000.  Authorizations of units in buildings with five units or more were at a rate of 406,000 in October.
HOUSING STARTS Privately-owned housing starts in October were at a seasonally adjusted annual rate of 1,009,000.  This is 2.8 percent (±10.0%)* below the revised September estimate of 1,038,000, but is 7.8 percent (±8.7%)* above the October 2013 rate of 936,000.
Single-family housing starts in October were at a rate of 696,000; this is 4.2 percent (±8.8%)* above the revised September figure of 668,000.  The October rate for units in buildings with five units or more was 300,000.
HOUSING COMPLETIONS Privately-owned housing completions in October were at a seasonally adjusted annual rate of 881,000.  This is 8.8 percent (±14.7%)* below the revised September estimate of 966,000, but is 8.1 percent (±13.0%)* above the October 2013 rate of 815,000.
Single-family housing completions in October were at a rate of 585,000; this is 7.4 percent (±9.5%)* below the revised September rate of 632,000.  The October rate for units in buildings with five units or more was 289,000.
New Residential Construction data for November 2014 will be released on Tuesday, December 16, 2014, at 8:30 A.M. ES