How long will you have to wait for the market to get better before selling your home for what you owe? It may be quite a while, why not sell now and move on with the next phase in your life. Take a look at my recent email blast here: ”Full Story”
Archive for July, 2011
People have figured out how to get the US Mint to give them free vacations. Essentially, they buy $1 coins from the government using credit cards. Then, they use the money to pay off their debt. This quickly racks up frequent flyer miles or other credit card bonus points.
Is this you?? (lol) What do you think? Click here to read more about it: “Earn Frequent Flyer Miles”
Well, I hope all is good in your Homefront. Please don’t be shy if I can do anything for you or someone you know.
Have a great week ahead!
Wonderful estate home with lots of land idea for: Equestrian Estate, Motor home owner, car collector, hobbyist, builder, developer, investor, pre-retired, or retired. The estate is completely fenced with gated entry boasting a 4,500sf. Arthur Rutenberg custom estate home with screened pool, brick paver, decking and sidewalks. Includes a 5,000 sf. detached shop/garage complete with auto lift, office and 2 bathrooms-a true mechanics dream! Meticulously landscaped and maintained. Enjoy time with family and loved ones golfing on your personal driving range or caring for your horsed and animals down by the spring-fed pond. Estate is situated conveniently to I-4 with gorgeous views of Lake Tennessee. Bring your toys, RV, boat, cars and golf club. Property is zoned LR-2 which allows a residential density of 2-5 units per acre-it has outstanding opportunity for future residential development.
Compelling reasons to buy, continue to mount as real estate market activity begins to rebound during the first half of 2011. Every Buyer should consider the following points when determining when to buy:
Quality of Life-
With the heavy emphasis placed on prices during the past 5 years, buyer’s may easily forget that the primary reason for purchasing a home is because of the quality of life it can provide. As a buyer, write down the answer the following questions; “If I were to buy today, what would it mean to me?
- With the closing this month of the Fed’s stimulus spending, QE2 or quantitative-easing round 2, the likelihood of increased interest rates in the near future is high. Every buyer should consider rates over a typical 10-year period since 1965, have averaged 7.5%-8.5%. At 5% there is a substantial savings every buyer can enjoy before rates increase. It costs approximately .60 cents/month/1% interest rate increase for every $1,000.00 financed. Multiply this monthly number by the number of months you expect to own the house and the extra cost can be staggering.
Bottom of The Market May Be Near
- The 4 prime indicators to determine how close we are to the bottom of the pricing market are; Supply, Demand, Consumption (Months Supply of Homes), and Value (Price Per Square Foot). In most markets these indicators show a buyer where they may be in relation to the bottom of the market. For example, according to experts, prices have now dropped to 2002 levels in many parts of the country. Ask us for details on these indicators. You may be surprised at the story they tell.
Recaptured Value or Depreciation
- There may be a great opportunity to take advantage of additional equity based on the market trends since 2005. The response to the rapid rise in the price of homes, many market have appeared to overcorrect with values now lower than what they should be. The overcorrection can be calculated by looking at the price of a home in 2002 and compounding that price annually by the 5% appreciation level that has been typical each year in most major real estate markets.
Residential Construction Costs
- In most markets, the price of an existing home is significantly less than the cost to purchase a newly built home. The difference in costs or savings represents additional equity that a homebuyer may have when the market returns to normal and new construction activity picks up. This supports the contention that prices have likely overcorrected giving present buyers additional equity opportunities if they purchase now.
- Investors typically purchase rental units to generate income from rents payments and appreciation. If they can charge more they will. So, it’s not surprising that rates have been increasing lately, especially given the number of homeowner’s that have lost their homes to foreclosure, the number of homebuyers that can’t qualify for a home, the population increase and the lack of new construction during the past 5 years to meet grown demand. Expect future foreclosures to create even more pressure on prices. Buyers who purchase a home with a fixed-rate mortgage, can lock in the monthly payment for as long as they own the home. Compare this monthly cost to the increasing costs of rental during the coming years.
- Prices have gone down so significantly that many investors have jumped at the opportunity to purchase distressed property at rock-bottom prices. Owner-occupant buyers are now having to compete with cash investor/buyers by paying more. Expect this trend to continue and prices to stabilize or increase in many markets.
Today’s Decisions Will Be Forever
- The opportunity to get more house and the best selection, and the oppor-tunity to get the best price will be a decision that affects many homeowners for the rest of their lives. Getting more house because of low interest rates makes sense because the savings will last “forever”. Conversely, if a bigger, better home is not secured soon, the opportunity to take advantage of the more for less, may not present itself again.
Pent-Up Buyer Demand
- Most Buyers have been sitting on the fence waiting for signs that housing prices have reached the bottom. It has become a “habit” to wait, even with signs of improvement. As a buyer, it is im-portant to remember that the best buying opportunity (Price and Selection), occurs before everyone else jumps back in.
- According to the National Association of Realtors, housing affordability based on housing prices, interest rates, and median family income, is at the highest level since 1979. This means that buyers will typically be able to afford more home than any other buyers in the past 32 years.
Wonderful Windermere Modern Masterpiece. Panoramic 360 Views from every angle. $1,350,000
Click here to find similar Properties: www.YourHomeInCentralFlorida.com
Foreign Investment in Central Florida remains a huge part of the overall market. Any property owner thinking of selling their home today needs to make sure that their home has true International exposure to the large number of Foreign Buyers Purchasing in Central Florida. What this means for Buyers is that they are missing out on opportunity seen by those at a distance. Foreign investors are recognizing the true opportunity that exist in Central Florida and taking advantage. Don’t let this opportunity pass you by.
Click here to View Full Report: Foreign Buyers