New Home Sales Dive to Record Low

[briansd1]

[quote=sdrealtor][quote=briansd1]We need to increase housing starts in order to stimulate economic growth. The resale of existing house does nothing for GDP.

But how to encourage building without price appreciation? Builders need access to cheaper land, building materials and contract labor.

Interesting predicament we’re in.[/quote]

BTW, in the typical real estate resale transaction there are about 30 to 40 people involved who are compensated in some way. Then the new homeowner will typically spend money on paint, flooring, appliances, furniture, landscaping and numerous other improvements. Saying the the resale of exisitng houses do nothing for GDP translates to not understanding what really occurs.[/quote]

Yeah, not exactly nothing…. but not a lot compared to new construction.

I guess buying and selling used stuff at the thrift store is good for the economy too.

I was talking about incremental GDP growth which is badly needed to reduce unemployment.

[SkyRanchOwner]

flu,

Yes, everyone wants to live in Santee! 😉

http://www.previewfirst.com/mls/31928

[SkyRanchOwner]

flu,

Yes, everyone wants to live in Santee! 😉

http://www.previewfirst.com/mls/31928

[SkyRanchOwner]

flu,

Yes, everyone wants to live in Santee! 😉

http://www.previewfirst.com/mls/31928

[SkyRanchOwner]

flu,

Yes, everyone wants to live in Santee! 😉

http://www.previewfirst.com/mls/31928

[SkyRanchOwner]

flu,

Yes, everyone wants to live in Santee! 😉

http://www.previewfirst.com/mls/31928

[SD Realtor]

My prognostication is that it will remain that way.

Or you can argue for the sake of being Brian and try to rationalize a scenario that it will not. We will see whose advice turns out to be more correct for the foreseeable future.

[SD Realtor]

My prognostication is that it will remain that way.

Or you can argue for the sake of being Brian and try to rationalize a scenario that it will not. We will see whose advice turns out to be more correct for the foreseeable future.

[SD Realtor]

My prognostication is that it will remain that way.

Or you can argue for the sake of being Brian and try to rationalize a scenario that it will not. We will see whose advice turns out to be more correct for the foreseeable future.

[SD Realtor]

My prognostication is that it will remain that way.

Or you can argue for the sake of being Brian and try to rationalize a scenario that it will not. We will see whose advice turns out to be more correct for the foreseeable future.

[SD Realtor]

My prognostication is that it will remain that way.

Or you can argue for the sake of being Brian and try to rationalize a scenario that it will not. We will see whose advice turns out to be more correct for the foreseeable future.

[sdrealtor]

Agreed it is a much smaller impact than new construction per house but the numbers of resales are and always will be multiples higher.

I think the 10% number is about right between both sides (buyers and sellers). Average is about 5% comissions (split between agents, brokerages, transaction coordinators, assistants etc), then 2% closing costs (1% each side for title, escrow, notary etc.), 1% lender fees then we throw in termite work, home inspections, moving companies, painters, flooring, furniture, the fedex guy, real estate transfer taxes, lawyers, guns and money…..

[sdrealtor]

Agreed it is a much smaller impact than new construction per house but the numbers of resales are and always will be multiples higher.

I think the 10% number is about right between both sides (buyers and sellers). Average is about 5% comissions (split between agents, brokerages, transaction coordinators, assistants etc), then 2% closing costs (1% each side for title, escrow, notary etc.), 1% lender fees then we throw in termite work, home inspections, moving companies, painters, flooring, furniture, the fedex guy, real estate transfer taxes, lawyers, guns and money…..

[sdrealtor]

Agreed it is a much smaller impact than new construction per house but the numbers of resales are and always will be multiples higher.

I think the 10% number is about right between both sides (buyers and sellers). Average is about 5% comissions (split between agents, brokerages, transaction coordinators, assistants etc), then 2% closing costs (1% each side for title, escrow, notary etc.), 1% lender fees then we throw in termite work, home inspections, moving companies, painters, flooring, furniture, the fedex guy, real estate transfer taxes, lawyers, guns and money…..

[sdrealtor]

Agreed it is a much smaller impact than new construction per house but the numbers of resales are and always will be multiples higher.

I think the 10% number is about right between both sides (buyers and sellers). Average is about 5% comissions (split between agents, brokerages, transaction coordinators, assistants etc), then 2% closing costs (1% each side for title, escrow, notary etc.), 1% lender fees then we throw in termite work, home inspections, moving companies, painters, flooring, furniture, the fedex guy, real estate transfer taxes, lawyers, guns and money…..

[Author]

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