Wednesday, December 29, 2010
I have gotten a number of comments from around the country regarding the blog this week on Warren Buffet's feeling that the real estate market will turn around in 2011. I would like to share these comments from a number of discussion groups.
From Sarasota. Florida
Will the market turn around is a hard question for it is all in location. you talk to people in San Fran to boston and each market is different some grewat some not For here in Fl. the market is great and horrific depending on the area. just have to have buyers who want to buy for with interest rates the way they are it is perfect for all buyers. Each market is different is all i am saying. I am in Sarasota Fl. and our inventory has been declinng over the last 2 yrs. Pending sales and Sold are increasing every year at records paces however in Miami i hear they market is still tough and inventory there is still high. So stay in there all agents and stay positive. Do not look at this market as 1/2 empty see it as 1/2 full for it is a great time to buy if you can.
Happy New year to all
From South Florida
2010 has been a great year, real estate wise, for sharp buyers and real estate agents that worked their "niches". I had a busy year thanks to first time home buyers taking advantage of FHA mortgages and the tax credit, and the 55 plus baby boomer looking to establish full time residency and second homes in South Florida. I believe 2011 will continue to be a prosperous year for agents working the REO & short sale segment of the market. Baby Boomers will continue to migrate south, and we gratiously welcome them here in Palm Beach County! Good luck to everyone!
From the Carolinas
The pace of the last few weeks has been stronger than the previous three months here. Greenville, SC offers first class restaurants, culture, and sports for all age groups. We are seeing qualified buyers and companies from all over the eastern US and midwest, in particular, noticing our exciting area and moving here. Parents are following their adult children, who have been relocated here for careers, and settling in for retirement. And the upstate SC has one of the highest concentrations of international investment in the nation. So, yes, I see a brighter 2011!
I also work the niche market of the 50plus community in Charleston SC and my sales were up almost 400% over 2009. I already have several contracts on to be built homes for 2011 and buyers who have their homes on the market waiting to sell so they can relocate to Charleston.
2011 will be better than 2010.
I believe that the 50plus community is tired of waiting for the real estate market to come back and are making the move to where they really want to be. I am finding many of them using the Reverse Mortgage to Purchase to make up some of the difference in what they didn't gain in the house they sold.
The market has absolutely made a turn for the better! I just closed on a house yesterday. Interest rates are at an all time low! If you are in the market to buy or refinance don't miss this great aopportunity! We have lots of homes in New Canaan, and in Lower Fairfield County in contract and into closings much much better than a year ago so we are in an upward swing!
Monday, December 27, 2010
This past March, in a letter to Berkshire Hathaway shareholders, Warren Buffet predicted increased demand for real estate in 2011. At that time many were hoping the summer would bring the turnaround. “Prices will remain far below ‘bubble’ levels, of course, but for every seller or lender hurt by this there will be a buyer who benefits. Indeed, many families that couldn’t afford to buy an appropriate home a few years ago now find it well within their means.”
Monday, December 20, 2010
What are you doing this Holiday season? Both our VT headquarters and WY satellite office will be enjoying a very white Christmas this year! With more than 17" fallen in Jackson Hole in the last 48 hours, we will definitely be hitting the slopes this weekend.
HAPPY HOLIDAYS FROM EVERYONE AT CRS!
Monday, December 13, 2010
Consumers Relocation fully supports MID- the mortgage interest deduction, and we feel that its elimination will be devastating to the real estate market! Last week, the Deficit Commission Report was released, and talked about cutting the mortgage interest deduction. News reports are saying that Congress threatens to repeal or limit MID will keep potential buyers on the sidelines and further delay the housing recovery.
Call your Senator and tell them you support the interest deduction, and that even talk of changing MID harms an already fragile market.
This call to action is being spearheaded by the National Association of Realtors and is vital to our real estate industry!