Talking to many customers and attorneys here in South Florida and New York I hear the same thing over and over.  Loan modifications are not being given.  It seems that in most cases after jumping through hoops to satisfy the bank with their requests that the answer to the homeowner is just about always no.  Now I'm sure there are many people who just don't qualify but I wonder how many mods really could be done if the banks had a reason to do them? Probably alot. 

This is important because foreclosures destroy families and neighborhoods and anything that can be done to stop them is worth doing. There has to be some way to get the banks excited about doing loan modifications for the people who qualify for them.

There are many obstacles to getting a piece of property sold these days. Such things as low appraisals, tight money and nervous buyers. These things tend to slow everything down and cause alot of stress for the sellers and all involved in the deal.

The bottom line is that properties are selling everyday and with the correct frame of mind most things can be worked out.  If the seller wants to sell and the buyer wants to buy everything is possible.

Ask the buyer who closed on a great deal yesterday or the seller who just closed for a fair price today and they will tell you that the market is what it is and we got the most out of it as we could!

Properties are changing hands everyday and inventory is decreasing across Palm Beach County, Florida.  The low prices and low interest rates continue to drive the market.  When properties are priced correctly they are selling.  Things should pick up even more now that people from other parts of the country are arriving here for a nice winter.  Below are the numbers for Palm Beach County for the month of October, 2009.

Total Properties Available  22,428

Total Properties Pending   2,750

Total Properties Sold   1,698

What a great day today in Boca Raton, Florida.  We had a little cold front blow in to cool us off and the weather could not be better!  73 degrees and sunny with low humidity.  No wonder so many people make their second home here.  Why fight the winter?  Boca Raton is true paradise.  Below is the average temperature and rainfall for Boca.

Month                   Temperature                     Rainfall/Inches

January                     75                                         2.5

February                  76                                        2.9

March                        78                                           2.9

April                          84                                          2.9

May                            86                                           6.7

June                          88                                          8.0

July                             91                                          6.0

August                      91                                        6.6

September                90                                      7.3

October                      86                                       7.6

November                  81                                       3.5

December                   77                                      2.3

Happy Veterans Day to all the veterans who have served us and given up a part or all of their lives for all of us. There will be a concert tonight in observance of Veterans Day at the Mizner Park Amphitheater in downtown Boca Raton at 7pm. Say thank you to a veteran today.

The tax credit which has been really working well has officially been extended to April 30, 2010.  It also has been extended to all homeowners.  Homeowners who are not first time buyers but have lived in their home for 5 out of the last 8 years are eligible for a tax credit of $6,500. The income requirements have also changed.  Now you can received the credit as long as you make under $125k if you are single and under $225k for married couples.

Many times when I go on a listing appointment I hear the property owner tell me that they need a certain amount of money for their property because they need the proceeds for their next home or some other endeavor. Regardless what the market will bear they feel strongly about receiving a set amount of money. They somehow feel that they will somehow get it because their home is extra special.

Though their home may be very special to them its the market that will set the price for it.  Regardless of how much money we need, like any other commodity such as gasoline, oil, or even lobster, the market will set the price.

When you sell a stock that is trading for $100 per share you couldn't call your stockbroker and tell him to sell yours for $150 per share because you need the money.  Selling real estate is the same way.

In this market you must list your property right to sell it fast. Below are some tips on how to list your property right so you are not watching every property in the neighborhood sell except yours.

1. Hire a good hard working Realtor.

2. Price it correctly regardless of how much it hurts.

4. Use a complete marketing system.  Print, Internet, Word of Mouth, etc.

5. Superior Photography.

6. Professional Vitual Tour.

7. Never, ever miss a showing.

The luxury single family home market continues to be busy as buyers are getting some great deals especially on the water.  The condo market over $1,000,000 continues to be slow  though there is activity. People don't necessarily have to buy a condo right now in that price range for a second residence. Unlike the homes where in most cases it will be their primary residence.  As we enter the high season everything should get busier. Below are the numbers for all properties in Boca Raton priced over $1,000,000 for October 2009.

Luxury Single Family Homes

Total Properties Available  513

Price Range    $1,000,000  -  $24,900,000

Total Properties Pending  13

Total Properties Sold  15

Price Range   $2,813,000 - $1,116,500

Average Price Per Sq. Ft.  $331

Luxury Condominiums

Total Properties Available  101

Price Range  $1,000,000  -  $7,250,000

Total Properties Pending  1

Total Properties Sold  1

Boca Raton is a great place to be for Halloween.  The children will be out trick or treating in a nice safe environment and the weather will be perfect as always.  There are many activities to do around town or you can just go to the mall and spend some time in there which is great if you have small children.  Have a nice and safe Halloween.