The Housing and the Stock Market are on sale. Buy something.

We estimate that national home prices are 5% undervalued in the third quarter of 2013. During last decade’s housing bubble, prices were as high as 39% overvalued in 2006 Q1, then after the crash fell to 15% undervalued in 2011 Q4. One quarter ago prices looked 7% undervalued; one year ago prices looked 14% undervalued, Trulia reported.
----------------------------------------------
"Success occurs when opportunity meets preparation".--
Shared by Commercial Lending
-----------------------------------------------
Check out this graphic for demonstrating the cost of waiting to buy a home.
https://plus.google.com/111789254531478161642/posts/HsaSwZmjQvj
----------------------------------------------
"Here's the scoop on market corrections:

5% corrections happen every 49 days - we're 39 days removed from one
10% corrections happen every 161 days - we're 461 days removed from one
20% corrections happen every 635 days - we're 1,110 days removed from one

We're about 3.5% off the recent record highs right now..."
From Wes Moss on Money Matters Sunday morning on WSB.

We are overdue for a correction.  Most of the time we buy more of something when it is on sale.  But with the stock market we pull our hair, wring our hands and jump out of windows when stocks go on sale.  Therefore, rejoice when the market corrects because then you can buy more of whatever it is you have been wanting.
-------------------------------------------------------

 

REITs suffering their worst collapse since the credit crisis.

These companies own shopping malls, apartment complexes, office buildings and other forms of commercial real estate. The value of those properties — and the rental cash flow streams they throw off — was wildly inflated by the record-low rates engineered by the Fed. -- Martin Weiss in Money and Markets
--------------------------------------------------
Homebuilding activity levels depend greatly on employment growth.
Even though mortgage rates are rising, homebuilders and buyers are hopeful this will be offset by a stronger job market — more homes will sell with a better employment status because it leads to both builder and homeowner confidence, according to Nationwide's chief economist.
Multifamily also will continue to trend upward given the fact that underwriting standards are hindering buyers from being able to afford a mortgage, Berson suggested.
Nonetheless, when putting together the components of existing and new home sales, the numbers reflect a continued market uptick, meaning homebuilders are confident in the future of the housing market. -- Christina Mylinski for HousingWire
-----------------------------------------------
Housing starts soared in the month of July, rising 5.9% from June levels and jumping 20.9% from last year, government data shows.
Strength in the multifamily sector caused the sharp increase with single-family starts actually edging down a bit.
Starts on privately owned homes reached a seasonally adjusted annual rate of 896,000 in July, up from 846,000 in June and a large jump from 741,000 a year ago, the U.S. Census Bureau and Department of Housing and Urban Development reported Friday.
Single-family housing starts alone fell 2.2% from June to July, reaching a rate of 591,000 units last month – below June’s revised estimate of 604,000 single-family starts.
Multifamily is where analysts found great strength.

"The boost in starts was led by a monthly 26% jump in the volatile multifamily component after a 24.8% fall in June," Econoday analysts noted. -- Keri Anne Panchuck in HousingWire.
-------------------------------------------------
Jill Pierce is Team Leader for RealEstateAuctions.com in Georgia.