2013 Orlando Real Estate Crystal Ball…January 7, 2013
Some of my friends like to come up with a “word” for the year. Well in real estate – my word of the year for 2013 would be “tough”.
I know that REALTORS are supposed to be overly optimistic and happy and positive and to be honest, I am all of that. But it is still going to be a tough year.
Why? Well that’s a good question with many answers.
How can it NOT be a tough year when everyone’s paycheck is smaller due to recent tax increases? Remember that promise to not tax the middle class? Have you looked at your paycheck yet? You been scammed and Congress and the President took out more payroll taxes! Frankly, I am shocked that no one is making a stink about this. I’m beginning to worry we are a nation of sheep following blindly behind a group of crazy people.
Secondly, there is so much manipulation of the job market. Our job growth is seriously underscored and it is a lot worse than most people realize. Ask your neighbor? You probably know at least ONE person who is not working at this time.
Finally, credit will be an issue. I could write a book about the inability for the credit agencies to fix their inaccuracies but I could add to that book about the mortgage lending business consolidating to provide you with fewer alternatives for mortgage loans.
Know who will be buying in 2013? Investors and cash buyers (which are basically one and the same). They are snapping up property at amazing rates.
Orlando real estate will sell and homes will turn over but to whom? It’s going to be an interesting 2013.
I hope it’s not too tough.