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The tsunami of foreclosures is coming - 05/21/09 01:39 PM
Our bank foreclosure specialists had to attend a day-long meeting here in Palm Beach County, Florida yesterday. They have said that, due to moratoriums on foreclosures the past month or two, they've been a little shower than they were. They were told yesterday that the wave of foreclosures heading their way any minute now is unbelievably large. Get out your real estate life rafts! (2 comments)
Love today's drop in inventory statistics - 05/18/09 04:32 PM
I run some statistics each Monday. One of them is the inventory of housing units (all types - but they are mostly single family) in the Intracoastal section of West Palm Beach, Florida, Palm Beach County, south of Okeechobee Blvd. down to the town of Lake Worth and east of I-95. This morning's total came at 435. I flipped back through my chart to this time last year and the number was ..... 538. That's a 19+% drop. "They" said we had a 5 year supply of inventory - and this would reduce it to four years - but there is (2 comments)
Movement in my market!!! - 05/12/09 10:10 AM
South Florida, West Palm Beach .....most of 2007 I played with my cooking recipes .... most of 2008 I lived off rentals and withdrew from savings, withdrew, withdrew.... There were NO files in the "pending" section of my file drawer. Any agent who said (s)he was doing well was lying. Suddenly I have two of my listings under contract, two buyer sales awaiting closing, another good offer coming in on another listing, and a rental listing almost rented. How wonderful!
The under $100,000 market in West Palm Beach, Florida - 05/10/09 12:35 PM
I've mentioned before that when any house under $100,000 comes up in my immediate area, I immediately go and see it - that way I can find the diamonds in the mess of the foreclosures and short sales to recommend quickly to buyers. I've been doing this for one month - and taking stock today, I learn that HALF of what's out there has already gone under contract. The greatest percentage of those under contract are at the lower end of that group, but boy do they disappear quickly. You need a score card these days to keep tabs! (1 comments)
Are YOU on the FHA Watch List????? What IS that?!? - 05/08/09 07:08 PM
I have a listing. Selling agent has an FHA buyer. Contract signed. All okay. Loan in process. I get an e-mail....... ....from the loan processor to the selling agent who forwarded to ME ---- they want a copy of MY driver's license so that they can ascertain that I AM NOT ON THE FHA WATCH LIST! The WHAT? 17 years in the business. Hadn't done FHA deals in years. Remember that I thought it unusual (but not much brain thought beyond that) that agents had to sign the FHA addendum to the contract...... WELL! Yes, I had to produce my driver's (2 comments)
The climb out of the real estate slump - 05/07/09 08:36 AM
This morning's Palm Beach Post released sales figures for Palm Beach County, Florida as being up 134% in the past month (from March 2009 to April 2009). A lot of this increase can be attributed to bank-owned properties and short sales - but first time homebuyers are taking advantage of the well priced inventory. So: sales up, inventory dropping ..... those who say the market will still go lower here will shortly be saying that they SHOULD HAVE BOUGHT! (3 comments)
Postive thinking - 05/05/09 08:24 PM
It's hard to focus on the positive things that happened during the day. EVERYTHING can't be negative. If we focus on the negative, we defeat our own stamina. Trust me, there IS something positive in every day. Take a deep breath; it will come to you. Capture that postive and tuck it into bed with you! (1 comments)
It's all about the CONTACTS you make - 05/03/09 11:22 AM
My broker is fond of saying that Real Estate is a contact sport - you've got to make contact(s). How right she is. And there are the old common denominators for contact: post cards to past clients, wearing your office name badge, being involved in your church/community/schools. But here's a tip that's working very well for me: I'm writing a column for my local newspaper - a series of things Sellers can do to increase their chances of selling their home. You don't need to be a superior wordsmith - the newspaper folks will edit your material anyway. But newspapers are trying to (11 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.