FORECAST OF 2010 FLORIDA REAL ESTATE BUSINESS I AM IN THE PROCESS OF REVIEWING LOTS OF PREDICTIONS BY FINANCIAL ANALYSTS & REAL ESTATE MOGULS, MOST OF WHOM SEEM TO AGREE ON ALL OF THESE POINTS. I LOVE THE IDEA OF LOTS OF PEOPLE AGREEING, DON'T YOU?
1. INTEREST RATES WILL BEGIN TO RISE AGAIN IN MID 2010. 2. MORE & MORE BUYERS WILL BE LOOKING TO GOVERNMENT LOANS LIKE VA & FHA. NEITHER REQUIRES A GOOD CREDIT SCORE, FHA LOANS, LOW DOWN PAYMENT, VA LOANS, ZERO DOWN. VA LOAN IS ASSUMABLE FOR A 30 YEAR LIFE OF THE LOAN. WHO CARES? IN 5 YEARS ANYONE WHO HAS AN ASSUMABLE VA LOAN WILL BE ABLE TO SELL THAT PROPERTY FOR TOP DOLLAR BECAUSE OF THE LOW INTEREST RATE THEY WILL BE ABLE TO PASS ON TO THEIR BUYER. THINK TO THE FUTURE. 3. 2010 FLORIDA REAL ESTATE TRANSACTIONS WILL CONTINUE AT A HIGH LEVEL BUT STILL INCLUDING LOTS OF SHORT SALES & FORECLOSURES. DO YOU KNOW THAT ONLY 13% OF THE SHORT SALES EVER CLOSE???? 4. PRESIDENT OBAMA SIGNED A BILL PROVIDING A TAX CREDIT OF UP TO $8000 TO FIRST TIME HOME BUYERS, GOOD THRU APRIL 30TH 2010. 5. THERE IS ANOTHER $6500 TAX CREDIT TO CURRENT HOME OWNERS PURCHASING A NEW OR PRE-EXISTING HOME BEFORE APRIL 30TH 2010. IF YOU WANT THIS KICK BACK BUY NOW, IT PROBABLY WON'T BE RENEWED. 6. FLORIDA CONTINUES TO BE A DESTINATION MARKET WHICH WILL IMPROVE GRADUALLY, WHICH POINTS TO RISING FUTURE PRICES. 7. THE AMOUNT OF PROPERTY FOR SALE HERE IS SHRINKING FROM CAPE CANAVERAL THRU MELBOUREN BEACH, "THERE IS ONLY SO MUCH WATERFRONT PROPERTY". 8. 85% OF TODAYS BUYERS FIND THEIR PROPERTY ON THE INTERNET, MY LISTINGS ARE ON 32 WEBSITES INCLUDING YOU TUBE & FACE BOOK. 9. IF YOUR THINKING OF BUYING OR SELLING, DO IT NOW BECAUSE THIS REAL ESTATE CYCLE OF LOW INTEREST RATES AND LOW HOME PRICES MAY NOT COME AROUND AGAIN FOR 15 TO 20 YEARS?
MAY YOUR 2010 BE FILLED WITH SUCCESSFUL REAL ESTATE TRANSACTIONS ALL OF WHICH WERE HANDLED BY MARY G.
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