Over valued market?

By
Real Estate Agent with Florida Future Realty, Inc. BK3071625

So I ran across this article today:

Click to read it

Basically, they have decided what major real estate markets will see the largest decline in values. They have determined where the peaks were & have guessed on where the bottoms will be.

Guess what? Cape Coral, Florida is first on the list. I don't care. I still think now is a very good time to be buying. Read my latest news report on Cape Coral, Florida.

The reason now is great is because sellers all pretty much now know that it's a buyers market (many were in denial up until recently). A buyer can negotiate here. There is a lot of inventory now, many sellers need out, not so many buyers here right now & oh wait, everywhere you turn you hear it's NOT the bottom so sellers are freaking out here - or should be.

But if you wait until they say things should bottom out say Q2 2007, sellers have read these articles too. They are going to wait it out, because 'of course' it's the bottom and why would they sell at the bottom? So buyers will have less chance to negotiate. See my point? Why would you wait until things start going back up?

By the way, more buyers are here again. I have several pending properties right now. They are all great opportunites & were negotiated very well.

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Rainmaker
187,973
Susan Milner
Florida Future Realty, Inc. - Cape Coral, FL
Cape Coral Real Estate Broker, FloridaFutureAgents

I forgot to point out one other notable item:

We are estimated here to bottom out in Q2 2007. That's not too far away.

Look at how many areas won't see bottom until 2008, 2009 & even 2010....

Oct 13, 2006 07:15 AM #1
Rainmaker
502,971
Nima Rezvan CT Lender CT Senior Mortgage Broker
Nima Rezvan Prosper First Funding Corporation NMLS#110681 - Fairfield, CT
First Time Home Buyer Expert - CT FHA Loans - FHA

Susan,

Great site you shared yesterday, I was playing with it again today.  Everytime I do it, gives me new people.  I guess its not a site you can really count on but it was fun anyways.  Thanks Susan!!!

Oct 13, 2006 10:18 AM #2
Rainmaker
299,080
Dave Rosenmarkle
Highland Realty - Arlington, VA
32 years of providing fully satisfying service!
You know, if any of us could even come close to predicting when the market is going to bottom out, we would be able to afford have Jimmie Buffett sing at our birthday party. Have a great weekend!
Oct 13, 2006 11:31 AM #3
Rainmaker
1,142,035
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time
Hi Susan, That is interesting. Cape Coral just like Poinciana was infested with investors last year and our markets shot up drasticly. Especially vacant lots. Our lots jumped from $10,000 to $70,000 in a matter of months. Now you can't give them away! House values in Poinciana almost doubled from Jan '05 to Nov '05 now they are coming down quickly. Prices were inflated from all the south Fla. and NY "investors" and now regular homeowners are paying the price. I am very concerned about what is going to happen when all the foreclosures start. It ain't going to be pretty.
Oct 13, 2006 11:49 AM #4
Ambassador
557,018
"The Lovely Wife" (Broker Bryantnulls Wife) The One And Only TLW.
President-Tutas Towne Realty, Inc. - Kissimmee, FL

"The Lovely Susan"

I find it interesting that although these predictions are quite true and very negative. They do not stop a dynamic Realtors from having pending sales! Ditto on BB's comment. It ain't going to be pretty!

Spreading the love...Spreading the love!

TLW "The Lovely Wife"...Kum La Ka Lakka...ROAR!  

Oct 15, 2006 10:13 AM #5
Rainer
4,461
Jeffrey J. Rabedeau
Treeline Realty - Cape Coral, FL
It's true.....we are in a "down" market.  And I'm with Susan on this.  NOW is definatly the time to buy.  True investors make thier money in a "down" market.
Oct 23, 2006 07:05 AM #6
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Rainmaker
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Susan Milner

Cape Coral Real Estate Broker, FloridaFutureAgents
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