News from the Hintz-Rice Team:
Traverse City Realtor, Susan Hintz and Al Rice of the Hintz-Rice Team recently received individual awards at the annual Traverse City Association of Realtors (TAAR) Awards Banquet held at Crystal Mountain Resort.
Susan Hintz, 2007 Rookie of the Year
Al Rice – 2007 Humanitarian of the Year
National Market Trends
According to the National Association of Realtors®, home sales declined in December by 2.2 percent. Twenty-two percent lower than the same time last year.
Lawrence Yun, NAR chief economist, said the market is experiencing uncharacteristic weakness. “Home sales remain weak despite improved affordability conditions in many parts of the country, but we could get a quick boost to the market if loan limits are raised in combination with the bold cut in the Fed funds rate,” he said. “Home prices are lower, mortgage interest rates continue to decline and incomes are higher, but many potential buyers are delaying a purchase.”
The total homes for sale fell 7.4 percent by the end of December which is encouraging, but buyers still have a clear advantage over sellers in many markets.
Susan Hintz and Al Rice
Grand Traverse Real Estate