This is our response to: How are You Prepping for the Market Shift? - An AR Challenge We specifically want to address the Ocala & Marion County Real Estate Market Shift 1. How will this shift affect buyer agents vs seller agents? Seller agents will find it harder to obtain good listings as more sell versus expire and more homeowners try selling on their own - FSBOs. We are increasing our marketing (mailings) and now being more proactive. Buyer agents will find it harder to find good listings for … (0 comments)
A few weeks ago we questioned Shiller's conservative and pessimistic forecast on real estate in: Shiller’s Bottom Line: Risk Lingers in Housing
Now newer, even more optimistic predictions further challenge Shiller's pessimism Economists revise housing figures amid optimism
So we as the question again:
"Yun says he expects total housing sales to be higher in 2013 than 2012, but he doesn’t expect the increase to be as dramatic. However, he expects price increases this year to beat 2012."
US home prices surge in January Who do you believe? Shiller … (9 comments)
real estate recovery: CoreLogic: Jan. Foreclosures Mark 15-month Decline
- 03/02/13 10:59 PM
CoreLogic: Jan. Foreclosures Mark 15-month Decline Another great sign of housing recovery! "IRVINE, Calif. – Feb. 28, 2013 – According to CoreLogic’s National Foreclosure Report released today, the U.S. had 61,000 completed foreclosures in January 2013, down from 75,000 in January 2012, for a year-over-year decrease of 17.8 percent. On a month-over-month basis, completed foreclosures rose from 56,000 in December 2012 to January’s 61,000, an increase of 10.5 percent. (Completed foreclosures averaged 21,000 per month before the recession.)"
We have been using this chart for several years in our listing presentations. It clearly shows the "bubble" our market went through before peaking at the end of 2005. The straight line represents the historical line of home appreciation over the last 60 years ~4% annually. The message to sellers being that at the current prices levels (15-20% below historical), it will take 5-15 … (4 comments)
real estate recovery: Anyone Doubt Which Way Rates Are Headed? - Revisted 3 days later!
- 02/01/13 05:49 AM
When we wrote this a few readers challenged us and quoted FED meeting minutes - we guess they did not read the analysis where FED blew it in 2007 Now this comes out: Record low mortgage rates gone for good? Original post: Anyone Doubt Which Way Rates Are Headed? Anyone Doubt Which Way Rates Are Headed?
Most of the recent Fed reports and minutes from their recent quarterly meetings have indicated they intend to hold rates near zero through 2013 and maybe 2014. They are basing that on continued weakness in the market. However, everywhere we read housing … (3 comments)
Most of the recent Fed reports and minutes from their recent quarterly meetings have indicated they intend to hold rates near zero through 2013 and maybe 2014. They are basing that on continued weakness in the market. However, everywhere we read housing is experiencing a recovery and in many locales investory is scarce.
Since housing is usually what leads us out of a recession, could the Fed be wrong?
Again?
Fed missed warning signs in 2007 as crisis gained steam
Listen to the media and you will hear that one of the reasons the housing market is not recovering is because banks are not lending. Not True! This graphic tells it all. Don't have a job? Credit less than 620? No, then banks are not going to lend. But otherwise they are lending to thousands every day!
Looking to Buy? Want to sell?
Call The Ruiz/Miller Team!
… (3 comments)
real estate recovery: Are There Still Pundits Out There Expecting Prices to Fall Further?
- 09/17/12 11:35 PM
Are There Still Pundits Out There Expecting Prices to Fall Further? We still run into the occcassional buyer who is "waiting" hoping for the prices to drop further. Or those that expect the shadow inventory to get dumped on the market. So we have compiled just this short list of articles that show the trend over the last 4-6 months. We think ii is pretty tough to ignore! Case-Shiller Shows Strong Price Gains in May CoreLogic: July home price index up 3.8% year-over-year Here’s More Evidence That Home Prices Have Hit Bottom Top real estate execs weigh in on … (0 comments)
real estate recovery: Marion County Flood Waters Are Receding!
- 09/12/12 11:14 PM
Marion County Flood Waters Are Receding! Earlier today we posted: Re-blogged by 0 agents The Flood Waters Are Receding! Now even better news, it is happening in Ocala & Marion County as well! Fewer mortgages underwater in Marion County "Following nearly two years of Marion County real estate drowning in "underwater" mortgages, the area continues to show modest improvement. During the second quarter of 2012, the percentage of Marion residential properties with mortgages that were in negative equity fell to 40.3 percent, down from 41.9 percent during the first quarter, according to CoreLogic, a California company that provides property and consumer … (6 comments)
We are all hearing about increasing sales from around the country. And in many areas that is leading to increasing prices. That in and of itself is great news. But this may be the best part of the recovering real estate market!
Report: Price Gains Shrink Pool of Underwater Borrowers "Rising home prices have pulled about 1.3 million homeowners out from underwater so far this year, according to a report released Wednesday." After all, most benefit from rising real estate sales. Those in the real estate related profession benefit. Sellers benefit as well. Buyers? Well in many cases … (2 comments)
Not according to this recent Wall Street Journal article.
Is the Real-Estate Rebound for Real? "For investors, "home" is no longer a four-letter word.
The real-estate sector, for the first time in years, is serving as a beacon of relative strength in an otherwise weak economy. Standard & Poor's on Tuesday reported that home prices in its S&P/Case-Shiller 20-city index rose 0.9% in May from the prior month, after adjusting for seasonal trends, and have risen 2.6% since bottoming in January."
"Some of the world's smartest investors, including Warren Buffett, … (8 comments)
real estate recovery: How Fast is the Market Shifting?
- 04/06/12 10:11 PM
How Fast is the Market Shifting? As Realtors we have a feel for the market on a daily basis. I started to feel a market shift about 6 months ago. I continued to feel it into the New Year. As I talked with and met agent around the County, it felt stronger almost every day.
But in the last couple weeks, I am amazed at how many consumers are telling me they sense it. This comes from buyers who are finding little or no inventory at their price point, especially first time home buyers. And now I am also … (10 comments)
03/27/2012 - Update The last two weeks seem to indicate that sooner or later rates will go up. And it looks like sooner !!
Mortgage rates up I predicted a year ago that rates will go up and was proven wrong almost every week of 2011! Now others are predicting it and have actually put some numbers on it!
How long will low mortgage rates last?
"The Federal Reserve has vowed to keep rates low through 2013 so rates likely will hang … (5 comments)
Thisarticle that just came out in the UPIsuggests an interesting phenomenon. “Some 37 percent of real estate pros now believe properties will appreciate in value, compared to just 15 percent who felt that way in the previous quarter. While 22 percent foresee a price decrease, that percentage is down from 42 percent last quarter. The remaining agents expect no change. Meanwhile, the share of polled homeowners who anticipate rising property prices rose to only 25 percent from last quarter’s 15 percent; 29 percent expect prices to decline.”
I predicted a year ago that rates will go up and was proven wrong almost every week of 2011! Now others are predicting it and have actually put some numbers on it!
How long will low mortgage rates last?
"The Federal Reserve has vowed to keep rates low through 2013 so rates likely will hang around for a few more months, at least, but whether mortgage rates will stay at the current record-lows, many experts say it’s unlikely.The 30-year fixed-rate mortgage is expected to inch up to an … (7 comments)
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2013 Ocala & Marion County Real Estate Market Shift 
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