FL Market Out of Control!

News from Florida Assoc of Realtors is a mixed bag, to say the least! Sales are way up--with prices WAY down. At least some of the inventory is "going away". There have been lots of sales because of all of the foreclosed properties and short sales. That's okay if you're a buyer....not so good if you're trying to sell your home right now. It's all about PRICE in this market. If you're a seller, you're competing with dirt cheap houses all around you. Now, more than ever, if your home isn't priced right, it's not going to sell. Pure and simple. Here's a little bit of what the experts have to say about this crazy market...





...“Many people are looking at today’s market and seeing opportunities to find the home or business they’ve always wanted,” said 2009 FAR President Cynthia Shelton. “With a range of available housing options, historically low mortgage interest rates and affordable prices, buyers who may have been hesitant before should take a closer look at the current opportunities for homeownership. As real estate professionals who know all aspects of their local market conditions, Florida Realtors are here to help counsel consumers making sound long-term decisions for their homes and their businesses.”

..."NAR’s latest housing outlook shows that home prices continue to fall, but also notes a trend of increasing sales activity in the Florida, California, Arizona and Nevada markets. “It appears some buyers are taking advantage of much lower home prices,” said NAR Chief Economist Lawrence Yun. “The higher monthly sales gain and falling inventory are steps in the right direction, but buyers will continue to have an edge over sellers for the foreseeable future.”

TRANSLATION: Buyers market! Are you thinking of buying a home? Do you know you can get up to $35,000 in firt time buyer assistance? Do you know that you get a $8000 Tax Credit if you buy in 2009? Good grief! What are you waiting for???

Call me today and let's get out there and find YOU a bargain!

Jacksonville, FL PreForeclosed Homes

The Mortgage Bankers Association reported that nearly 3 million homeowners were behind on their mortgages at the end of last year. An additional 1-million-plus borrowers were at risk of imminent foreclosure. Wow! As if that's not bad enough, a lot of the borrowers are finding out that they're so upset down, they just mail in the keys! Don't leave your house without a fight! The lenders can't help you, they can't work with you, they can't do a thing except foreclose if you mail in your keys and walk away from your house. Do NOT use this crazy option if you're upside down. Lenders are working harder to help you keep your home. FHA has programs to help with the ARM loans out there right now. The lenders are working with home owners after recieving pressure from the Feds to help them. Hundreds of thousands of distressed homeowners are reaching out for help. The Homeownership Preservation Foundation, part of the Hope Now Alliance, fields more than 4,000 calls daily to its toll-free hotline (888-995-HOPE).

Before you give up and mail your keys to your lender and move out--call me. I'll be happy to tell you what your house value might be based on recent sells and overall market activity. Don't give up yet! I'll try to help.