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Real Estate Problem Solving

March 17, 2009

Market conditions seem to be getting dicey to say the least. What do I see on the streets? Here’s a summary of Orlando real estate sales (from my personal observations):

  1. If you are priced at $200,000 to $250,000 you should get a buyer. Why? Because most loans being written are FHA backed and accessible.
  2. Which brings me to my second point – WE NEED RESPONSIBLE MORTGAGE LENDING TO RESUME. Not really a strange concept but banks appear to be retreating from the real estate battlefield and have gone AWOL. Without loans, you can’t sell houses – it doesn’t take a rocket scientist to figure this one out.
  3. Buyers need to realize current market conditions (buyer’s market) are not going to last FOREVER. If I had a nickel for every time I have heard someone say “I’m waiting for the bottom” then I would be Trump-style rich.
  4. High end market is seeing some backlash with the main focus being on declining home values.
  5. We need to quit giving money to AIG for bonuses to their lame executives and give it to people who want to buy a home. Did I mention that it is ridiculously difficult to get a home loan right now?
  6. Buyers are unreasonable, Sellers are frustrated and REALTORS are trying to hold it all together for the better good of the public. Really!

Will our market improve? Absolutely. When? When the banks and Congress come together to loosen the control on the mortgage loan markets.

 

 

It’s time to quit retreating and advance the cause of home ownership.

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