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Showing posts from March 11, 2007

Friends don't let friends buy without a REALTOR

I'm amazed that NAR (National Association of Realtors) doesn't spend some of those bazillion dollars to educate the public. I still don't think that people understand that when they buy a house, they need to have a REALTOR representing them. NOT THE REALTOR ON THE SIGN. They need their OWN REALTOR representing their interests, not the sellers. It doesn't cost the buyer ANYTHING to have a REALTOR representing them. The seller pays the REALTOR commissions, not the buyer. When the listing agent sells the home, the REALTOR becomes a "Transaction Broker". This means that the REALTOR represents both sides equally and owes both sides certain duties. I've closed several times (okay, twice) and represented both sides. It's a whole different ballgame. The transaction happened without a hitch and everyone was represented fairly, honestly and with due diligence. I think I am going to specialize in Buyer Agency representation. I have some buyer clients that I'm

A Little Gator Told Me Prices Have Bottomed Out....

Here's what the Gator said: A University of Florida study suggests the state's single-family residential housing market has bottomed out. "If you're thinking of buying a house, there's probably not much to be gained by holding out at this point," said Wayne Archer, director of UF's Bergstrom Center for Real Estate Studies. "It doesn't look like prices are going to fall anymore." The quarterly survey of real estate industry professionals completed in January shows the share of respondents observing a drop in single-family housing prices has dipped, while a growing number find prices staying even with inflation. "We see that as a benchmark," Archer said. "When prices maintain the same level as inflation, then we're probably in some kind of equilibrium. It indicates the market is stabilizing." The exception is condominiums, which Archer said are overbuilt and prone to speculative and naïve investors. But the overall news

Official Washington, DC forecast-take with a grain of salt

Home sales forecast brighter in ‘07 WASHINGTON – March 12, 2007 – Anyone selling a home in the past year has likely suffered through some pretty stormy markets, but economists say a break in the clouds may be on the way. That’s because since the highly anticipated “real estate bubble” began deflating in mid-2005, has been losing air for the past year and a half and may finally be out of air. And while some markets suffered through some deep slumps, forecasters are now predicting the worst may be over. “It appears we are getting very close to bottom,” says David Lereah, chief economist for the National Association of Realtors. Lereah is one of several economists who agree that sales data show the national existing home sales market is on the verge of regaining ground. “Sales have hovered for the last four months, scratching bottom and then coming up, scratching bottom and coming up again. We are comfortable this is now the bottom,” he says. But before you put away that umbrella, it migh

Jacksonville Beach Buyers Agent Update

After further review, it appears that the downward spiral continues in the beaches real estate pricing. I continue to see prices dropping at an alarming rate. This is truly a buyers market! I think that the downward trend will probably continue through the Spring buying months. I am waiting and watching for a leveling off, but so far, there's no evidence of that. Now is the time to buy a house at the beach. Interest rates are very low right now and there are lots of houses on the market. Call me today for some detailed information on any home you're interested in looking at. As your agent, I will: Assure that you see all the properties in the area that meet your criteria. Not just those listed on the local MLS, but also many un-listed properties that I find through my local contacts and affiliations. Guide you through the entire process, from finding homes to look at, to getting the best financing. Make sure you don't pay too much for your new home. As a real estate expert