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Finally, Some Good News About The Real Estate Market

I just read an article put out by the Florida Association of Realtors. Finally some good press about the real estate market. Can the local news do a story with some positives about the market to give the people the confidence they need to start buying again? I have found so many good buys out in our market and people are hesitant to buy. "Buyers now have an overwhelming advantage given the wide selection of homes available in many markets," says Lawrence Yun, NAR senior economist.

Here are some highlights from the article about our improving real estate market:

Home prices are expected to recover in 2008 with existing-home sales picking up late this year and new-home sales rising early next year, according to the latest forecast by the National Association of Realtors® (NAR).

"Markets that sharply reduce new construction in 2007 will generally experience respectable price increases in 2008," Yun said. "Local conditions vary considerably, but with historically low mortgage interest rates this summer and sustained job gains, it could be a good time for first-time buyers with a long-term view to test the housing waters."

I wish I could communicate better to my clients the opportunity they are facing right now. There are some desperate sellers out there in the greater Daytona Beach area that need to sell. That equals opportunity for a great buy. Mortgage rates are still very appealing. Take advantage of these opportunities before the market picks back up.

Investing 101; buy low and sell high. Prices have come down. I have seen homes selling for less than people paid two years ago when the market was at an all time high. Their loss is your gain. There are many opportunities to get properties below market and appraised values. Follow the advice of your local real estate agent and act now.

It's a good life,

Ian Anderson - Ormond Beach Real Estate

http://LivinByTheBeach.com

Posted by Ian Anderson - Ormond Beach Florida Real Estate on 07/12/2007 02:18 PM

Comments (5)

florida real estate, ormond beach real estate, daytona beach real estate, nation association of realtors, economy, ian anderson

5 Comments on Finally, Some Good News About The Real Estate Market

and if we get a better tax bill to vote on in January's election, then we can see affordability restored

despite the cons, the pros of buying right now are huge

but negative news gets more play in the media and also the masses

07/12/2007 02:22 PM

by Boca Raton & Lake Worth Florida Real Estate Broker

Great news and great blog, thank you for the update.

07/12/2007 11:43 PM

by Joy Goushaw Southwest Florida Real Estate (Sandals Realty)

I agree with you completely. I am so tired of listening to local news and national news spouting how "horrible" the real estate market is. And I agree here in Florida, it's a great time to be a buyer. My sellers are "yelling" but I believe it's just an adjustment, and it's good to see that FAR is speaking out that things will improve. I met with a client that was contemplating putting his home on the market, and I was honest. He does "have to sell" and will wait until the market improves. 2007 has put the brakes on the get rich when "flipping" and if we can weather the change 2008 will be a great year again. Thanks for the post!.

I am never to busy for any referral you have headed to Gainesville. I would like to add you as an associate for my referrals in your area.

07/14/2007 07:41 PM

by Christine Bohn, ABR, e-Pro, GRI~Gainesville, FL Realtor® (RE/MAX Professionals, Inc.)

The market has adjusted and I think, like those who commented before me, for the better! We do need to get back to the "real market". Wasn't it odd that just anyone could take the course and presto, sell houses? The education and skills needed to sustain your business are now, again, necessary. Nothing will help you more, right now, than education. I try to shut the news off, as much as possible. Bad news sells, good news is a secret. Be the best you can and spread the good secret. The market is good right now!

07/16/2007 10:25 AM

by Frances C. Rokicki, Broker~Mentor (Fran Rokicki Realty, LLC)

Ian,

You are right about that. Your blog could be about the Vegas market as well. The atmosphere here is very similar to the one over there. Yes, it really is a buyer's market here, too, and there are great opportunities for anyone wishing to purchase a home.

07/16/2007 04:10 PM

by Esko Kiuru - Las Vegas NV Mortgage Consultant (Sinifox Financial)

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