I was graciously invited by my good friend, Toni Brattin, who is an active member of the local association.  A delicious lunch was served to a large group of women and important information regarding the disease was reported by local and national staff members of the association.   Lark Dale

Below is an excerpt from the presentation.  The statistics are shocking.  Thank God for the many volunteers, research scientists and ordinary citizens that are working so hard to raise the needed funds to continue the fight against such a horrible disease.

Currently there are more than 5 million people with Alzheimer’s disease in the United States and 35 million worldwide. These numbers are expected to skyrocket to as many as 16 million and 115 

million people respectively by mid-century. The potential of earlier diagnosis and the development of better treatments may significantly change the experience of Alzheimer’s for millions of people. In the meantime, the cost of care will rise exponentially for society. These factors will provide unprecedented challenges and opportunities to the Association over the coming years.

The Alzheimer’s Association is the leader across Alzheimer’s advocacy, research and support. To enhance and strengthen this global leadership position as well as expand the depth, breadth and pace of the Alzheimer’s movement, we must do more. From fiscal year 2012 through 2014, this strategic plan aims to aggressively advance the mission of the Alzheimer’s Association.

This collaboratively developed plan is the strategic plan for all parts of the Alzheimer’s Association and includes the overarching Association-wide strategic objectives and priority activities on which each part of the organization and its staff will be monitored and measured during the years of the plan. Annual operating and business plans for the national organization and chapters will be developed on the basis of this Association-wide strategic plan, with options for each part of the organization to go above and beyond the plan with customized and innovative initiatives and tactics

Note: All references to Alzheimer’s disease include related disorders.

We have many years of experiencing the ups and downs of the real estate climate and we have some ideas about why the listing inventory is so low.

1. With the low interest rates many owners have chosen to refinance and stay put.

2. The upcoming Presidential election causes people to pause and evaluate not only the national and global economic situation but, how the outcome will impact their own financial security. (We are lucky to live in Oklahoma where our economy is stronger than most)!

3. And an obvious result is that good homes, priced right, sell fast.

What does this mean for you as a home seller?   It’s a great time to sell! 

If you want to sell your home, this is a great time.  Call us today! 

We are at your service!

Barb & Lark

The following is from Realtor.org

Mortgage rates will be starting to rise from this week on. From the 3.9 to 4.0 percent average rate in the past five months on a 30-year fixed mortgage, the new rates will soon be in the range of 4.3 to 4.6 percent. Usually the initial phase of rising rates can quicken the decision to sign on the dotted line as consumers do not want to face even higher mortgage rates later on. However, a prolonged increase will shrink the pool of eligible home buyers.

Here are some raw statistics to contend with. Let’s say a person is committed to paying at most $1,000 per month in principal and interest to be comfortably within this person’s budget. A mortgage calculator will spit out that at a 3.9 percent rate (last week’s rate), this homebuyer will be able to take out $212,000 in mortgage amount. At 4.5 percent (near future rate), the figure drops to $198,000, or the equivalent to a drop of 7 percent in purchasing power. The homebuyer therefore has to shoot for lower price points.

Another way to view the impact of rising rates is to compute the income required to get the $212,000 in mortgage funds as in the above example. At 3.9 percent, the income would have to be $4,000 per month, assuming that this particular person only feels comfortable with a mortgage payment taking up 25 percent of his or her income. At 4.5 percent, the mortgage payment to buy that same home would be $1,074 per month and the corresponding monthly income requirement would be $4,296. Now, how many people have a monthly income between $4,000 and $4,296 or on an annual basis between $48,000 and $51,552? According to the Census income distribution table, 2.9 percent of the population is between these two incomes. This income gap also represents how many people would have qualified to buy this particular example home before and after the mortgage rate change.

Simply put, if mortgage rates rise to around 4.5 percent in the upcoming weeks from the previous 3.9 percent, then home sales are expected to be impacted by 3 percent. If the 30-year fixed mortgage rate rises to 5 percent then the impact is closer to 6 percent.

This illustration is what economists call a static analysis. It assumes that other variables are not changing. In the real world, the confluence of factors makes the data analysis less clean. The 3 percent impact may not be meaningful if, say, job gains pick up steam or mortgage underwriting standards become less restrictive. Then there are the cash buyers, making up about one-third of all buyers in the past year, who would care squat about rate changes. Still, it is worth keeping in mind that rising rates will put some drag on the broader housing market recovery.

Lawrence Yun, Chief Economist

Lawrence Yun is Chief Economist and Senior Vice President of Research at NAR. He directs research activity for the association and regularly provides commentary on real estate market trends for its 1 million REALTOR® members.

Market trends right now show we have the lowest number of listings on the market in years! What that means to buyers is that sellers could start to hold firm on their asking prices! It’s a matter of supply and demand. The more demand (buyers) and less supply (listings) the more the market tips toward, or, in favor of the sellers.

Typically, more homes come available in the spring and summer months. That may happen or many homeowners may opt to refinance and stay in their current homes. This will also affect the number of future listings!

If you are considering purchasing a home, get off the couch and start the process. You will negotiate a better deal now than waiting for more competition!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.