Tom Cofer

Open House in Michigan Township on Sunday

Tom Cofer — Mon, 08 Mar 2010 17:52:00 GMT

Michigan Township, Michigan City - We invite everyone to visit our open house at 124 Fogarty St on March 14 from 11:00 AM to 1:00 PM.

Property information

Open House in Michigan Township on Monday

Tom Cofer — Mon, 08 Mar 2010 17:52:00 GMT

Michigan Township, Michigan City - We invite everyone to visit our open house at 3049 Woodrow Ave on March 14 from 1:00 PM to 3:00 PM.

Property information

New Residentail Sales

Tom Cofer — Wed, 24 Feb 2010 18:12:00 GMT

Sales of new single family homes in January 2010 fell 11.2 percent from December 2009 and were 6.1 percent below January 2009 to 309,000.

Data supplied by the Economics and Statistics Administration

Economic Issues

Tom Cofer — Mon, 22 Feb 2010 22:33:00 GMT

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The end of the foreclosure crisis is finally in sight. For the first time in almost three years, the number of homeowners falling behind on their loans is declining.

The Federal Reserve seems likely to keep interest rates at record lows for several more months after news Friday that consumer prices excluding food and energy fell in January.

Oil prices are again flirting with $80 a barrel after a two-week rally fueled by promising economic reports and worries that troubles in Europe and the Middle East could eventually tighten supplies. An extended surge in crude prices will force gasoline and other fuels higher as well. Retail gas prices already have started to increase this week, and experts predict the national average will hit $3 a gallon this summer.

The Dow Jones industrial average rose 9.45, or 0.1 percent, to 10,402.35, its highest finish in a month. The Dow is now down only 0.25 percent for the year.

Information taken from Forbes magazine

National Unemployment

Tom Cofer — Fri, 05 Feb 2010 14:19:00 GMT

The percentage dropped, somewhat. Now, 9.7%

Healthcare costs

Tom Cofer — Tue, 02 Feb 2010 15:31:00 GMT

Doctors payments for Medicare could be cut by 21% on March 1, 2010, if Congress does not act! How do you think that might effect your care? Better review the health care issues on the AARP website.

Open House in La Porte on Sunday

Tom Cofer — Mon, 01 Feb 2010 15:12:00 GMT

La Porte, LaPorte County - We invite everyone to visit our open house at 3388 N Chianti Dr, Laporte, IN 46350 on February 7 from 1:00 PM to 3:00 PM.

Property information

Personal Income

Tom Cofer — Mon, 01 Feb 2010 15:07:00 GMT

Personal income in December 2009 increased 0.4% from November. Real personal consumption expenditures (PCE) rose 0.1% and nominal PCE increased 0.2%. Real disposable income (DPI) rose 0.3% and nominal DPI increased 0.4%. The personal savings rate as a percentage of DPI was 4.8% in December.

Data supplied by the Economic and Statistics Administration

Gross Domestic Product

Tom Cofer — Sat, 30 Jan 2010 13:51:00 GMT

Real gross domestic product (GDP) rose at an annual rate of 5.7% in the fourth quarter of 2009. This follows an increase of 2.2% in the third quarter.

Information supplied by the Economic and Statistics Administration

Mature Market Home Buyers

Tom Cofer — Fri, 29 Jan 2010 13:22:00 GMT

January 19, 2010 - A survey of consumers and builders, conducted in 2009 by the National Association of Home Builders (NAHB) and the MetLife Mature Market Institute, has yielded a new round of data revealing the housing preferences of the 55+ consumer. This analysis of data – the third in a series – compared the preferences of the 55-to-64 year old age group to those of the 65+ group.

The data uncovered a strong similarity in housing preferences between the two groups, with a few exceptions. The younger age group showed more interest in technology-heavy features, while the older group expressed a stronger preference for a single-story floor plan or one with a first-floor master bedroom, and a variety of universal design features.

One striking difference, according to John Migliaccio, director of research at MetLife’s Mature Market Institute, related to the desire for home services and community services.

"Very telling, said Migliaccio, "is that the younger group of mature consumers reported enthusiastically that they want services like home maintenance and repair as part of their next home purchase, along with services typically connected to older homeowners, such as housekeeping, onsite health care and transportation," noted Migliaccio.

According to Migliaccio, all of the aforementioned were ranked higher than the desire for organized social activities – a surprise, inasmuch as social activities and amenities have been thought to be valued quite highly by this group. This finding, he said, supports an emerging trend among builders to look for ways to partner with providers of such services to the residents of their active adult/lifestyle communities.

According to Mike McGowan, a 50+ builder from Binghamton, N.Y. and chair of NAHB’s 50+ Housing Council, "Most buyers in this market are looking for an easy-living lifestyle. They would like access to services that will free up their time from maintenance both inside and outside their homes. This data tells builders that the homes we build for older active adults will remain attractive to the consumers who will be entering that market for the foreseeable future."

Paul Emrath, NAHB’s vice president for survey and housing policy research, pointed out that the share of households that will want lower-maintenance housing is large, and growing larger as Baby Boomers age into that segment of the market. He cautioned that the current financial situation has led to sharply decreased construction of communities that serve the mature market. Without a change in the availability of capital for development and construction, there could well be a shortage of such housing when it is most needed.

Senior Real Estate Specialist

Tom Cofer — Thu, 28 Jan 2010 15:46:00 GMT

If you need help with issues pertaining to the Seniors ( over 50), please visit my Seniors page. I have set up links to other helpful websites. I will be adding new information to the site.

Home Sales

Tom Cofer — Thu, 28 Jan 2010 13:51:00 GMT

Sales of new single-family homes in December 2009 fell 7.6% from November and declined 8.6% from December 2008, to 342,000. For the full year 2009, new home sales fell 22.9% from 2008.

Data supplied by the Economics and Statistics Administration

What were they thinking?

Tom Cofer — Fri, 22 Jan 2010 15:47:00 GMT

The Supreme Court justices in a 5-4 decision, voted to allow company's, the ability to make unlimited contributions to political campaigns. They cited not to allow this would violate company's rights under the First Amendment. Chief Justice Roberts (who grew up in the Michigan City area) cast the tie breaking vote.

Census Takers needed!

Tom Cofer — Thu, 21 Jan 2010 22:13:00 GMT

Part-time work for 5-10 weeks beginning this spring. Pays $12.50/hr in our immediate area. Mileage and paid training. Learn more at http://2010.census.gov/

Reality Times "Housing Affordability" only relative

Tom Cofer — Thu, 21 Jan 2010 16:32:00 GMT

Interesting article about homeowners who are struggling but not distressed. Lower interest rates, tax credits and falling prices have not helped when it comes to buying a home for many struggling homeowners. From 2005 thru 2008 more households are spending greater than 30% of their income for housing. Costs of home ownership have risen,and with the potential of rising home prices, affordability is questionable. That's why present homeowners have not moved since the housing crisis began. Unemployment and under-employment continues to add to the insecurity of purchasing a home.