Tuesday, April 17, 2012

Appraising in Hardin County

Wow, I just finished doing some digging on the immediate area around Pine Valley Golf Course in Etown, and I was surprised at the amount of inventory. I know the numbers are a little hard to read, but there is over 55 months of inventory on the market.  This is partly due to the lack of sales activity coupled with a large increase in listings.  Search results are based off all closed sales and active listings within the past year that are within 1 mile search radius of the 2500 block of Chatsworth Dr according to HKAR MLS.

Sunday, April 15, 2012

Appraising and jobs

I always like to hear stories about  jobs being added to the economy even if they don't say what types of jobs they are.  In the past month, I have noticed an increase in real estate purchases on the appraising side of the house.  Click on the following link to get the rest of the story, and see how well Kentucky is doing in the jobs market.  


Saturday, April 7, 2012

Central Section Ranger Derby

Reaching out and having fun, it's something each of us should partake of.  This year, BVS had the opportunity to co-sponsor the Central Section Ranger Derby for the Royal Rangers.  Royal Rangers is a mentoring ministry for young men to be developed into Christlike servant-leaders.  This was there first race, but it was planned and executed very well.  We had good food, entertainment, awesome video/audio, lots of trophies, and most importantly, very close racing.  The track record at one point was decided by less than 2 one-thousands of a second, but ultimately was reset at a whopping 202MPH.

With the help of BVS, the Central Section was able to purchase a 32' aluminum track from Micro Wizard.  This track was problem free and very fast.  There were cars that ran 11MPH faster on the aluminum track when compared to the racing at last month's Derby in Louisville.  The Central Section will be hosting another Ranger Derby later this November at Heartland Christian Center in Vine Grove, Kentucky, and they hope to expand on their success by increasing the number of participants by at least two fold.   See ya at the races!

Wednesday, April 4, 2012

Market Update

I want to thank Josh Hay for sending me these updates, and I also want to wish him well on his new position at Wells Fargo.  
I have been hearing from several sources such as Trulia.com, LinkedIn, and Bank of America that they are predicting the start of the housing recovery this year.  Some of these sources may want to be considered with a grain of salt, but local stats are looking promising.  Last year's 1st quarter in Hardin Co. saw 197 sales with a median sale price of $140,500.  This year's 1st quarter has produced 192 sales, and their median sale price is $142,250.  Although gas prices, inflation, and interest rates may start to climb, these are all indicators of a recovering market.  

Mortgage bond prices finished the week higher helping mortgage interest rates improve. Rates were negative Monday morning but got a boost later that day as Italian Prime Minister Monti suggested that Spain may soon become the epicenter of the European debt crisis. This reignited the flight to quality buying of US debt as fears grow that Italy and Spain will need a bailout like Greece. Unfortunately for Europe, the economies of Italy and Spain are considerably larger than Greece. Rates were helped later in the week when the durable goods orders data came in weaker than expected and weekly jobless claims were higher than expected. Mortgage interest rates finished the week better by about 1/4 to 3/8 of a discount point.
Date and Time
ISM IndexMonday,
April 2,
10:00 am, et
52.8Important. A measure of manufacturer sentiment. Weakness may lead to lower mortgage rates.
Construction SpendingMonday,
April 2,
10:00 am, et
Up 0.2%Low importance. An indication of economic strength. Significant weakness may lead to lower rates.
Factory OrdersTuesday,
April 3,
10:00 am, et
Up 0.1%Important. A measure of manufacturing sector strength. Weakness may lead to lower rates.
Fed MinutesTuesday,
April 3,
2:00 pm, et
NoneImportant. Details of the last Fed meeting will be thoroughly analyzed.
ADP EmploymentWednesday,
April 4,
8:30 am, et
225kImportant. An indication of employment. Weakness may bring lower rates.
Weekly Jobless ClaimsThursday,
April 5,
8:30 am, et
355kImportant. An indication of employment. Higher claims may result in lower rates.
April 6,
8:30 am, et
Payrolls +210k
Very important. An increase in unemployment or weakness in payrolls may bring lower rates.
Consumer CreditFriday,
April 6,
3:00 pm, et
$12bLow importance. A significantly large increase may lead to lower mortgage interest rates.
The ADP employment report is a measure of employment derived from data of roughly 500,000 US businesses. The survey focuses on the private sector of the economy. In contrast, the Bureau of Labor Statistics releases the regular employment report which includes both private and government employment statistics.
The ADP employment report has gained more prominence lately in that it is delivered prior to the Friday employment report. This gives analysts an improved forecast heading into the payrolls component of the employment report later in the week.
The Fed is usually focused on keeping inflation in check. Tightening employment conditions can result in wage inflation. The ADP report provides solid data on these conditions. Despite this, the data still can diverge from the regular employment report. The employment report is derived from a household survey and an establishment survey. These surveys often differ from one another and from the ADP employment report in that they are based on different data sets. There are no guarantees that the most important employment report the first Friday of each month will mirror the ADP report released 2 days prior. With this in mind floating into the data is always very risky. Now is a great time to take advantage of mortgage interest rates at these historically favorable levels to avoid future market volatility.
RATE LINK is provided by Market Information for Mortgage Professionals. Copyright 2012. All Rights Reserved. Mortgage Market Information Services, Inc. The information contained herein is believed to be accurate, however no representation or warranties are written or implied.
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1. blog.movers.com

Monday, April 2, 2012

Edge Ranking

I've been taking an online course over the past several weeks concerning Facebook marketing.  One of the more interesting areas is something called EdgeRanking.  Have you ever wondered why pages you like don't show up in your news feed?  EdgeRanking is process that Facebook takes in prioritizing the posts in your news feed.  Who better to explain this than Facebook guru, Mari Smith.  Click on the following link to enjoy this awesome article, and I hope you have an good week.