Friday’s Mortgage News – We Told You So

Since I’m getting tired of saying that the market makes little sense, I thought today I’d let David Lereah, Chief Economist of the National Association of Realtors, say similar things.  He also has a forecast of realty activity for 2006, and it’s pretty good.

New home sales were up sharply in December.  This is a trend, now.  New homes sell.  Existing homes don’t.  This is, of course, an oversimplification, and tells us, as I mentioned earlier this week, nothing whatever about your particular house.  But in general, homebuyers are more interested in brand-new houses than in existing homes.  I cannot explain why.  Especially in Utah, I prefer homes that are 20 years old, because the trees have had time to get taller than I am.  But I am weird, and I’ve learned to accept that.  What it means is that people like me are getting better deals on the homes they want to buy, and even better deals on the new homes they are building for sale.

If you were paying attention to this space, and some of you were, you knew this last fall and are now sitting on some very solid assets.  You’re welcome, Chad.

We’ve been playing lots of chess here recently, I guess to stay sharp.  If you’d like to get in on some of the action, stop on by.  I could use some help as black dealing with the Queen’s Gambit.

The Chris Jones Group would like to make you aware of the Lehi Area Chamber of Commerce meetings the first Tuesday of every month at the Harvest Restaurant at Thanksgiving Point at noon.  Lunch and the speaker and the networking and the whole enchilada is $15.  You won’t regret it.

Since there is nothing happening this weekend, there will be no predictions.  My prediction is that nothing will happen.  See that I am right.

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