2009 Year-end press conference<br />Northern Virginia Association of Realtors®<br />
Susan Mekenney<br />2009 Chairman of the Board<br />
Home Buyer Tax Credit<br />Tax Credit Extended to April 30, 2010<br />1.8 million Families Used Tax Credit<br />Estimated ...
National Factors<br />Unemployment Appears to Be Slowing<br />Low Borrowing Rates Continue<br />Trial Loan Modifications B...
Renewed Job Growth Slows<br />
Today’s Realities<br />Home Prices Stabilizing<br />&lt; $500k Homes Sell Quickly, Multiple Offers<br />Loan Defaults Cont...
3 Factors Sustaining Foreclosures<br />Ongoing Resets of Payment Terms<br />Loss of Borrower Income<br />Depressed Home Va...
Unemployment  (October 2009)<br />Virginia rate: 		6.6 % <br />National rate:  	         10.2 %<br />Northern VA rate:  	4...
Price Stabilization & Recovery<br />
Sold Listings (NVAR Region)Nov. 2006 – Nov. 2009<br />
Home Sales 1999-2009<br />
Home Sales 2007-2009<br />
Avg. Sales Price (NVAR Region)<br />Nov. 2006 – Nov. 2009<br />
What It All Means<br />Higher Absorption Rates Compared to 2008<br />Slow, Steady Improvement Throughout 2010<br />Tax Cre...
Where Are We Going?<br />
OPTIMISM IN THE MARKET<br />Better Mortgages<br />Home Values Stabilize<br />Value-Priced Inventory<br />Strong Local Fund...
NVAR.com Market Statistics<br />
NVAR.com Helps Catch Thieves<br />
Thank You<br />Spring Forecast – March 25, 2010<br />Economic Summit – September 2010<br />
Upcoming SlideShare
Loading in …5
×

Annual Press Conference - NVAR Presentation

737 views

Published on

Presentation by the Northern Virginia Association of Realtors at the Annual Press Conference - held at the National Press Club in Washington DC on December 15, 2009.

Published in: Real Estate, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
737
On SlideShare
0
From Embeds
0
Number of Embeds
7
Actions
Shares
0
Downloads
0
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Annual Press Conference - NVAR Presentation

  1. 1. 2009 Year-end press conference<br />Northern Virginia Association of Realtors®<br />
  2. 2. Susan Mekenney<br />2009 Chairman of the Board<br />
  3. 3. Home Buyer Tax Credit<br />Tax Credit Extended to April 30, 2010<br />1.8 million Families Used Tax Credit<br />Estimated Additional 2.6 million thru April<br />
  4. 4. National Factors<br />Unemployment Appears to Be Slowing<br />Low Borrowing Rates Continue<br />Trial Loan Modifications Being Considered<br />
  5. 5. Renewed Job Growth Slows<br />
  6. 6. Today’s Realities<br />Home Prices Stabilizing<br />&lt; $500k Homes Sell Quickly, Multiple Offers<br />Loan Defaults Continue Affecting Region<br />
  7. 7. 3 Factors Sustaining Foreclosures<br />Ongoing Resets of Payment Terms<br />Loss of Borrower Income<br />Depressed Home Values<br />
  8. 8. Unemployment (October 2009)<br />Virginia rate: 6.6 % <br />National rate: 10.2 %<br />Northern VA rate: 4.7 % <br />
  9. 9. Price Stabilization & Recovery<br />
  10. 10. Sold Listings (NVAR Region)Nov. 2006 – Nov. 2009<br />
  11. 11. Home Sales 1999-2009<br />
  12. 12. Home Sales 2007-2009<br />
  13. 13. Avg. Sales Price (NVAR Region)<br />Nov. 2006 – Nov. 2009<br />
  14. 14. What It All Means<br />Higher Absorption Rates Compared to 2008<br />Slow, Steady Improvement Throughout 2010<br />Tax Credit Will Launch Spring 2010 Market<br />
  15. 15. Where Are We Going?<br />
  16. 16. OPTIMISM IN THE MARKET<br />Better Mortgages<br />Home Values Stabilize<br />Value-Priced Inventory<br />Strong Local Fundamentals<br />Rail to Dulles<br />Low Interest Rates Predicted<br />Breathing New Life into the Economy<br />
  17. 17. NVAR.com Market Statistics<br />
  18. 18. NVAR.com Helps Catch Thieves<br />
  19. 19. Thank You<br />Spring Forecast – March 25, 2010<br />Economic Summit – September 2010<br />

×