BELIEVE IT OR NOT!
NOW. . . IS THE TIME TO BUY
By Beverly Howe, REALTOR®, ABR,
GRI
The Original Florida Buyer Broker
03/09/07
One of the major reasons buyer’s can’t buy in
Florida is they haven’t sold their homes up North.
Other buyers have the money to buy, but are “sitting on the fence,”
and listening to the “media,” afraid to buy. These buyers may sit
indefinitely on the fence worrying about the possibility of spending a few
extra dollars more than the next guy might spend to have a piece of
paradise!
Some buyers are waiting "on the fence" because they have the
misconception that the price of all properties will come down dramatically.
There is a large inventory of overpriced homes on the market in Southwest
Florida. Many sellers are not going to be motivated enough to lower their
prices to reflect current real estate market prices. And they are not going
to take their homes off the market. These sellers are creating the current
appearance of the inflated inventory of homes, which makes it appear that
homes are not selling.
Smart buyers “hear opportunity knocking,” and are finding the
motivated sellers who have lowered their prices to make the sale today!
The public and many real estate agents may not realize, if they do
not listen carefully, to the disclaimers, that economist and the “media”
use limited statistical information when making their public announcements
about the real estate market. Information is broadcast or published in
generalities and is often not relevant to many States and often not
relevant on a local level in many areas.
Your local broker or agent I can provide you with up to date sales
data in Lee and Collier County, including any specific building,
neighborhood or vacant land you might have an interest in purchasing.
A few years ago when the IRS laws changed people began taking money
from their 401Ks or other retirement savings and invested in real estate.
Shortly after that, the “media” began harping “the real estate
bubbles going to burst.” Property sales began declining in areas other than
Florida.
The unusual hurricane season and Katrina created inflated insurance
rates especially in Florida. (New Laws are now requiring insurance
companies who over charged home owners to give back rebates and to lower
their rates).
The “media” fed the publics fear of hurricanes and forecasted the
next hurricane season in Florida to have even more storms than the last
season. And the “media” pronounced that the “bubble has finally burst in
Florida!”
Hurricane season last year was mild and back to normal without a
single storm in all of Southwest Florida. However, the media was successful
in using that prediction to continue to drive down real estate prices by
making people afraid to buy real estate in Florida.
Real Estate sales around the country continued to decline with the
onslaught of bad publicity this winter. The media has neglected to tell the
public the reason people have not bought this season in Florida is because
they didn’t sell their homes up North last spring and summer. I have many
prospective buyers who will be delighted to come to Florida to buy once
they can sell up North!
Escalated prices during previous years in Florida created higher
taxes. Real estate taxes in Florida are based upon property values. As the
price of a property comes down, so will the real estate taxes. Also, the
governor of Florida is now working with the legislature to find other ways
to lower property taxes in Florida.
Today’s conventional financing rates are still very low.
The media says people are “going to” default on their “sub prime”
home loans. Most of the foreclosures will be in areas where income levels
of the home owners can not realistically keep up with the increasing rate
of their adjustable rate mortgages because bad publicity has driven down
home values. Therefore, the homeowners do not have the anticipated
appreciation needed to refinance their homes today. In spite of this
hardship most people will make a genuine effort to keep their homes.
Some buyers who are “sitting on the fence,” believe that savvy
investors who bought a few years ago are all going to give up their
investment properties to foreclosure. Many of these investors’ are now
providing the annual and seasonal rentals for those people who won’t or
can’t buy. These investors still have their real estate, while other people
are throwing their money away renting.
There is a reason why real estate is called real estate and why
financial planners use the word “estate” planning. Like diamonds and gold
you can touch it! It’s a real asset.
Some banks financed large real estate developers. The developers
contracted to build homes with very low deposits from buyers who
anticipated “flipping it for a profit.” When these buyers realized they had
bought after the “new” housing market was already saturated. They simply
walked away from their deposits leaving some developers and banks with half
built homes.
For several years now, new construction bought at the initial low
offering prices by the early investors has been undercutting the builders
pricing.
The developer offering a deal that seems too good to be true may be
facing some serious financial problems.
What the “media” has not told the public is the fact that smart
buyers have been taking advantage the lower prices and this "window of
opportunity." These buyers are getting more “bang” for their buck in all
price ranges in Southwest Florida!
When you are serious about buying real estate, I am a buyer broker
who is serious about giving you “rock solid facts,” I know local market
values, and will negotiate for the best price and terms for you. As your
buyer broker, I will take care of your best interest throughout your real
estate transaction. You will be confident that you have made the very best
buying decision and that your closing details will go as smooth and worry
free as possible.
If you enjoy wonderful warm winters, sunshine, swimming, walking on
the beach, boating, fishing, golfing, strolling through galleries and
boutiques, the variety of activities for you and your family goes on and on
. . . you belong in beautiful Southwest Florida.
What are you waiting for? Call your broker today to begin the
search for your very own “peace of paradise.” Don’t miss the boat!
Beverly Howe, ABR, GRI The Original
Florida Buyer Broker
Owner - Buyer Broker - REALTOR®
broker@floridabuyerbroker.com
http://www.beverlyhowe.com
1-800-283-7393
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