Archive for the ‘market facts’ Category

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Real Estate Ruins –

April 21, 2011

 

Real Estate in Ruins

As I was driving through a luxurious Orlando neighborhood recently, I noticed a number of homes that were obviously in foreclosure. The signs were everywhere including the overgrown lawns, the newspapers piled in the driveway and the general look of decay.

It dawned on me that without proper love and care – the earth has a way of reclaiming what it once lost. The house was covered in vines which were starting to smother the home. It was at once appalling and then again, mesmerizing. I guess the old adage “it’s not nice to fool “Mother Nature” really can come true. You can lay down all the bricks and mortar that you need to make a mansion or a modest home but left untended, Mother Nature is going to take it back and do so with a vengeance.

So goes the state of real estate. Real estate in the US is in ruins! No one is tending the real estate market and no banks, politicians or even news anchors seem to be alarmed. Banks have just disclosed that they wrote one-third (1/3) fewer loans the first quarter of this year than in the past. That is an ASTOUNDING fact. While is sounds wonderful to have a 4.45% interest rate, it is meaningless if no bank is giving out loans. It’s catastrophic. Right now we live in a world full of smoke and mirrors. It’s all fake advertising. It’s all for naught.

Banks are getting richer and bank CEO’s are reaping huge profits but not on real estate. Our country must stand up for a call to action for loans to be written to credit-worthy customers. We are in the weeds and we are going to be in a hole so deep it will take decade(s) to recovery.

As real estate goes – so goes the economy. As an example, I had a client with a two-year old foreclosure BUT $100,000 down payment on a $200,000 house and I could NOT get him a loan. Why? Because the lenders said his foreclosure had to be past three years. 50% down is almost unheard of and yet we could not get this buyer a loan.

PLEASE, please won’t someone get serious about the condition of our economy and realize that without loans and without buyers – we have no real estate? The effect is deep and sinks to the core of all business. No real estate builders, no real estate materials (bricks, shingles, asphalt, etc.), no handymen, no appliances, no furniture…I could go on and on. The lack of sales is affecting everyone and it is affecting you whether you understand this or not.

Let’s get back to business. Let’s sell some homes. Won’t someone make a stand?

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Real Estate Mind Games

August 21, 2010

 

Success seems to be connected with action. Successful people keep moving. They make mistakes, but they don’t quit.” Conrad Hilton

 

Real estate today is moving and changing in new directions. To be a winner in today’s real estate world, you have to put the past behind you and move toward the future. You have to be an agent that wants to win and then sets out to figure out what it will take to make transactions matter.

It’s all a mind game and you must have a winning mindset. If you don’t – you are doomed to fail.

I am constantly reminded how tough our economic climate is and how bad home prices have fallen. But I am also reminded that we are not the only generation to have financial challenges. Many of our grandparents and parents suffered greatly during the “great depression” and they think we are all being a wee bit dramatic. I know it is tough out there but I also know that opportunities exist to those who don’t give up and keep moving toward a goal.

Will real estate ever be the same? No. But how can we expect it to remain the same? It’s changed for good and I don’t think that is all bad news. It’s just our reality and it is time we deal with it. I heard today that nearly a quarter of Americans think their home is going to fall in value this year and yet I also heard that nearly a quarter of Americans are going to put their homes on the market the first sign of change.

Be the change – start thinking about winning in a hard market. What have we got to lose because our days are full of opportunities! Keep a positive mindset and be prepared to WIN. I believe it for you.

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Where is Real Estate Going?

March 25, 2008

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What is going on in real estate in Orlando? I must get asked this question about a hundred times per day. I’m beginning to think I need to whip on my swami turban and cart around my “8” ball and start coming up with some snappy retorts. Where is it going? Well I think it’s going UP! Lord knows…we have been down long enough and it can’t go any lower. Good people are walking away from their homes and facing foreclosure, bad people are walking away from their homes and facing foreclosure, smart people are walking away from their homes and facing foreclosure…it’s an epidemic. Good news is that for most epidemics, there is a cure. It’s just sometimes the cure is as bad as the disease. Will we see many more months of price declines, will we see more foreclosures, and will we see more rentals? What will we see? I wish I knew. But this I do know…it WILL rebound. The market will turn. Real estate is a life force and you can not stop it. Everyone STILL wants to own a home. Many people are returning to the thought process that it’s actually a HOME and not JUST an investment. Everything points to the good. The paper (and this is totally shocking) actually reported some positive news about real estate and the fact that it looks like the bottom has hit. Heck, even Donald Trump is buying, buying and buying real estate. Why not? It’s a great time to buy. What is going on in real estate? It’s all a gamble but it has ALWAYS been a gamble. But one thing I know. It’s worth owning a home and it’s still the greatest job on the planet. I love real estate!

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Buyer’s Market?

March 17, 2008

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ARE THESE THE DOGS DAYS OF REAL ESTATE? On the contrary, it’s A GREAT TIME to buy a home. Why…because buyers hold a lot of power right now and if used properly today’s buyer can become very successful at buying a home at the most opportune time in over a decade. Like it or not, buyers have a big advantage in this market because sellers are now more willing to negotiate. There are also more homes for sale on the market and the lenders are begging for qualified buyers. Buyers rule the world. However, buyers need to be careful. Why? Because things are getting a little ugly in the real estate industry and EVERY BUYER seems to think that all Sellers are DESPERATE for an offer, any offer. I have lost track of how many transactions have not only come in $5,000 under listing price but sometimes almost $500,000 under list price. Buyers need to understand that not EVERY SALE IS A SHORT SALE and not every SELLER is in panic mode. But what you do have…Sellers willing to make some good “deals” out there and you are missing the action. Why are buyers hesitant? I have no idea. I do know this…if buyers wait around for the PERFECT time to buy a home they will miss their chance. He who hesitates… So think about it, go out and look. Find a good REALTOR and get an offer in on the home of your dreams. It’s still a good buy, but even better, it’s good to come home each and every night to your “OWN” place and have a little slice of heaven here on earth.

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It’s About Time

January 21, 2008
News

The National Association of Realtors has FINALLY decided to come out and combat the negative publicity about the media’s coverage of the housing market. I feel that for too long the media has distorted the news about housing and no one has really tried to fight the press. People believe what they read and it is wrong!

According to an article written by Blanche Evans with Realty Times, the National Association of Realtors (NAR) has a new website that is designed to provide valuable information to the buyers and sellers of real estate. I can only hope that the general public will learn of this campaign to educate the mis-informed public through this webiste. I commend NAR for stepping up and making a strong statement in behalf of the housing industry.

The website can be found at www.housingmarketfacts.com

Good news, indeed!