Today, I received my December issue of the Texas Reator magazine. The quiz on the back page dealt with comparing today's real estate market with earlier history. I'll make the points in narrative-form to save you from taking the quiz!
1. In 2008, the national average interest rate for a 30-yr. fixed-rate mortgage loan was 6.03%. In 1981, it was 16.63%!
2. Approximately 60% of today's mortgage applications are approved. The percentage in 2003 was 79%.
3. Texas markets in January 2008 were almost the same in months of inventory, to the markets in 1998.
4. Some MLS services in Texas still print MLS books!
5. Since 1994, the number of active Texas Reators has doubled.
6. In 1994, there was one active Texas Reator for every 445 Texans. The ratio today is one Reator for every 297 Texans.
7. Motorola introduced the first portable cell phone for consumers in 1983. The cost in 2009 dollars was $8,500! It had 30 minutes of talk time.
8. Kodak introduced one of the first widely available digital cameras in 1991 that cost $20,350 in 2009 dollars. It had only 1.3 megapixels!
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The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
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Postings will relate to general home buying and selling, particularly for first time buyers, investors, estates, and flippers. Other topics are home staging, gardening, home maintenance, spotlighting neighborhoods in Houston, Green ideas and volunte
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