The Deflationary Crisis And Its Affect On The Housing Market
“If the government used home prices in the CPI reading, you’d see the biggest deflation since the ’30s”
Cramer predicts another 10% to 15% decline nationwide, and 40% to 50% peak to trough declines in bubble markets. He calls the Fed “reckless” and actually goes further and says that the Fed is a “radical right wing” organization.
What does this mean for those in the real estate business and for those in the market for a new home.
Well, that depends upon who you talk to. Real estate agents who primarily “list” homes and do little else are in for a tough time in the near future if Cramer’s predictions hold true. Accordingly so will the seller clientele of these so called “listing agents”.
If prices continue to trend downward as Cramer and other economists feel is likely, it will become increasing hard for listers to actually sell homes. If the market continues to decline as Cramer says and it drops an additional 20% or more, you are going to find sellers wiped out and in order for them to sell they may have to bring large sums of cash to the closing table. Read more
Homebuying Bullies Beating Up On Desperate Sellers
We all know that it’s a buyer’s market out there right now, but have the tables turned so much that buyers are taking it to a whole new level? We are seeing buyers turning into veritable schoolyard bullies by taking advantage of their leverage by demanding everything from major home repairs, to cash concessions, to the payment of HOA dues and more from sellers.
Does Searching For A Bargain On Your Next Home Purchase Make You A Bottom-Fisher?
So…it seems that foreclosures and shorts sales along with other distressed properties seem to be driving the market here in the Fort Lauderdale real estate area. Likely if you are searching for a home in the Fort Lauderdale area you are more often than not looking for the best deal that you can find…right? So does that make you a bottom-fisher?
The Top 10 Reasons You’re Not Getting Any Offers On Your Fort Lauderdale Real Estate Home
Have you asked yourself why you’re not getting any offers on your Fort Lauderdale real estate home or condo? Well the answer is really pretty simple. Either you as the Seller are not doing what your agent advised you to do, or your agent either does not know what to do in order to get your home sold. I don’t like to mince words. I like the direct route. It may not be popular, but it’s the truth.
40% Or More Of Homes Sold Are Foreclosures Or Distressed Properties!
These so-called distressed sales helped depress home values across the country, feeding into a downdraft that is making it increasingly difficult for many Americans to sell their homes for more than they paid. This “upside-down” phenomenon is being felt by many homeowners who now find that because of declining values their homes are now worth a lot less than they owe on them.
Nationally, prices of previously owned homes were 7.1 percent lower in July than a year earlier, the NAR reported on Monday, with the median value falling to $212,400, from $215,100 in June.
And there were signs that prices would continue to spiral downward for months to come. The number of homes and apartments for sale jumped 3.9 percent in July, adding to the supply glut that has bedeviled the housing market for months.
“It’s cold comfort to know that the banks are succeeding on selling their houses at prices that are pretty breathtaking,†Read more
Hurricane Gustav: Hey Fort Lauderdale, We Go Again!
Tropical Storm
Fort Lauderdale Homes : Absorption Rate Indicates 23 Months Of Inventory
If you are looking to buy a home in the Fort Lauderdale real estate market or if you are looking to sell a Fort Lauderdale home, there is a key stat that either party should avail themselves of. That stat is called the “absorption rate”.
Tropical Storm Fay To Impact Fort Lauderdale Real Estate Market
Residents in the Fort Lauderdale real estate market and those looking to close on a purchase in the next few days are going to have to keep a close eye on Tropical Storm Fay. Currently just a tropical storm, Fay is forecast to emerge over the open waters of the after passing Cuba and has the potential of strengthening into a hurricane. Read more
Homebuyers Don’t Need The Fort Lauderdale MLS
Fort Lauderdale real estate buyers don’t need the Fort Lauderdale MLS. The MLS is an outdated tool that those looking for homes in Fort Lauderdale can’t access anyway. So why would any prospective home buyer be worried about the MLS?
Do You Know What The Closing Costs Will Be Associated With The Purchase Of Your New Home?
Closing costs are those fees and expenses associated with the final transaction (the closing) when you buy or sell a home. Some of the expenses are allocated to the buyer and some are allocated to the seller. All of the expenses must be signed off on and approved as evidenced by both parties signatures on the HUD-1 Settlement sheet. Also called the HUD Statement or the Net Sheet.