It's not a buyers market unless you're buying..

According to a recent foreclosure market report, foreclosures have increased by 23 percent in national metro areas. Orlando ranks No. 13 in 2008's first quarter.Online marketplace, Realtytrac, reported 10,522 Orlando area homes were in foreclosure. That's 1 out of 81 homes
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There was an increase of over 48 percent from the 2007 fourth quarter. From one year ago, it is a 248 percent increase in foreclosures. I always remember this adage when the streets are running red with blood, buy buy buy!!! Don't forget it either.  If you ever wonder how people get wealthy or the rich get richer, it's because they understand that when everyone else is running scared the come in and scoop up deals. Then when everyone returns they sell to those who wish they would have bought.

 

 
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4 Comments on It's not a buyers market unless you're buying..

You are certainly right, Heather. I am having a difficult time understanding why more people don't realize just that. Once bitten, twice shy, I suppose. There will definitely be a lot of wealth generated during this time.

04/30/2008 07:32 AM by Chris Compton (RE/MAX Greater Atlanta)

I guess we're lucky here in Maryland, we have a low foreclosure rate, low unemployment rate and housing values are a little lower but our economy locally is still fairly strong compared to some other parts of the country that are suffering.

04/30/2008 07:38 AM by June Piper-Brandon, CRIS, ePro, Broker (Advance Realty Anne Arundel Inc.)

Heather

You are so right!  I have been saying the same thing.  Sales ARE being achieved and are actually up from in the past couple of months.  There is as always a pricing sweet spot which sells faster than others.

04/30/2008 08:08 AM by Allison Stewart REALTOR ®St. Cloud Florida (Florida Pines Realty, Inc)

I hear that from some of my clients and I remind them that its only a buyers market if they buy. Some search so long for a good deal they miss the better deal they passed on and regret it.

04/30/2008 08:30 AM by Laura Jefferson (Asset Realty)

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Real Estate Agent: Orlando & Lake Mary Real Estate Expert, Heather Joubran (RE/MAX Central Realty)
Orlando & Lake Mary Real Estate Expert, Heather Joubran
Lake Mary, FL
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RE/MAX Central Realty

Office Phone: (407) 805-0611
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Heather Joubran's blog is for those looking to gather information on Central Florida and Real Estate including areas such as Orlando, Lake Mary, Baldwin Park, Lake Nona, Longwood, Seminole County. In her blogs you will find information on how the current and local market is doing for both buyers and sellers, where to find the next deal in new construction or how to get your home sold quickly. Better yet check out her websites www.centralfloridaluxuryestates.com or www.myfirstrealestate.com

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