One of the greatest benefits I have found for having a coach is perspective. As we move through life, it easy to focus on the negative news and lose sight of the big picture. Perspective can help bring things back to reality.
My coach at www.BuffiniandCompany.com assembled this information that I would like to share with you. Hopefully it will give you perspective too!
Essential Facts for Today’s Market
More than 1000 banks closed in 1930 – three years before the FDIC was created
- Only 14 U.S. banks have been taken over in 2008
There are 76 million households in the U.S. that own their home
- 24 million of these homes are free and clear
There are 52 million homes with mortgages
- 97.2% of these are not in foreclosure
- 93.8% of these homes are current on their payments
On a sobering note:
Over 20% of homeowners with a mortgage owe more than their home is worth
40% of all foreclosures are non-owner occupied
How did we get here?
|
Decade |
Homes Sold High |
Homes Sold Average |
|
1970’s |
3.9 million |
3 million |
|
1980’s |
4 million |
3.3 million |
|
1990’s |
4.9 million |
3.9 million |
|
2000’s |
7.1 million |
5.6 million |
Resale numbers – the above does not include new home sales.
Sources: Wall Street Journal, Moody’s Economy.com, RealtyTrac, NAR, Forbes
Watching the news or reading the papers you may be led to believe that the whole nation is in foreclosure, but it is actually a single digit percentage of the homes. Unfortunately bad news is what grabs the nation’s attention even when it does not represent the whole story!
Posted By:
Tony Meier
Eastside & Seattle Realtor
425-466-1000
EastsideHomesBlog.com
EastsideHomes.com
Seattle's Eastside Real Estate Resource
tony@staging.eastsidehomes.com
