We've been hearing for weeks that help is on the way for homeowners with problem mortgages. If your in that situation or know someone that is, hopefully this information will be helpful.
Florida CFO Sink launches ‘Florida Housing Help’ web site TALLAHASSEE, Fla. –
Nov. 10, 2008 –
To provide immediate assistance to Florida homeowners searching for federal housing assistance, Chief Financial Officer Alex Sink and her Financial Action Team (FACT Team) announced the launch of “Florida Housing Help,” a new Web feature at www.MyFloridaCFO.com. “Florida Housing Help” offers resources for homeowners, veterans, local governments and taxpayers who could potentially benefit from the recently-passed Housing and Economic Recovery Act of 2008 (HERA). “From veterans to new homeowners, millions of Floridians stand to benefit from the federal HERA legislation designed help Americans weather the current housing crisis,” says Sink, who oversees the Florida Department of Financial Services. “We launched ‘Florida Housing Help’ to help Floridians better understand the federal resources available to them. Ultimately, we hope this initiative will bring more federal dollars to our state.” HERA legislation became law in July 2008. CFO Sink created her FACT Team, made up of stakeholders and financial and housing experts, to identify the funds available to Floridians and help homeowners take advantage of these resources. Sink says that “Florida Housing Help” will be updated on an ongoing basis as additional information becomes available. For further assistance, Floridians may also contact CFO Sink’s Consumer Helpline at (877) 693-5236. ©
2008 FLORIDA ASSOCIATION OF REALTORS®
Government launches sweeping new loan aid effort
The government and the mortgage industry are launching the most sweeping effort yet to help troubled homeowners by speeding up the process for renegotiating hundreds of thousands of delinquent loans held by Fannie Mae and Freddie Mac.The Federal Housing Finance Agency, which seized control of the two mortgage finance companies in September, announced the plan along with other government and industry officials, including Hope Now, an alliance of mortgage companies organized by the Bush administration last year.“Foreclosures hurt families, their neighbors, whole communities and the overall housing market,” said James Lockhart, the housing finance agency’s director. “We need to stop this downward spiral.”The plan could have tremendous importance because Fannie Mae and Freddie Mac own or guarantee nearly 31 million U.S. mortgages, or nearly six of every 10 outstanding. Still, government officials did not have an estimate of how many people would qualify for the new program.Officials hope the new approach, which goes into effect Dec. 15., will become a model for loan servicing companies, which collect mortgage payments and distribute them to investors.
To qualify, borrowers would have to be at least three months behind on their home loans, and would need to owe 90 percent or more than the home is currently worth. Investors who do not occupy their homes would be excluded, as would borrowers who have filed for bankruptcy. Borrowers would get help in several ways: The interest rate would be reduced so that borrowers would not pay more than 38 percent of their income on housing expenses. Another option is for loans to be extended from 30 years to 40 years, and for some of the principal amount to be deferred interest-free.
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300 800-541-5019
www.RobSkeel.com
http://robskeel.com/homes_for_sale.shtml
Wednesday, November 12, 2008
Friday, October 17, 2008
Florida Keys Real Estate--This is a good time to buy!
Keys Real Estate - now is the time to buy!
The past few weeks have been very emotional for people in the stock market.
I have a question for you---which is the best investment....stock market or Keys Real Estate??
Stock Market: 39.4% drop in 10 days.
Keys Real Estate: 27% drop over 24 months.
With real estate you are still able to enjoy your property, have pride of ownership or possibly rent it to cover some of your expenses.
It appears that we have reached the bottom of the real estate market in the Keys!
During our slowest months August & September we have now seen a trend where the number of home sales per month have increased and the average sales price have went up.
Additionally the government rescue plan will take foreclosure and short sales property off the market.
So if you have been waiting for the right time to buy it is now! Cash is king, so if you've taken money out of the market you can buy your Keys dream property at a reduced price compared to a few years ago. If you wait too long, the sellers will see the market has bottomed and will start increasing their asking prices or become less flexible with their negotiating positions.
If you want a mortgage and have good credit there are a number of mortgage companies including Century Funding that can assist you.
I am available to help you find the property your looking for, just give me a call or send me an email and I'll do everything I can to locate the perfect property for you.
Rob Skeel
Realtor
Century 21 Prestige Realty
305-393-6300
800-541-5019
rob@robskeel.com
http://www.robskeel.com
The past few weeks have been very emotional for people in the stock market.
I have a question for you---which is the best investment....stock market or Keys Real Estate??
Stock Market: 39.4% drop in 10 days.
Keys Real Estate: 27% drop over 24 months.
With real estate you are still able to enjoy your property, have pride of ownership or possibly rent it to cover some of your expenses.
It appears that we have reached the bottom of the real estate market in the Keys!
During our slowest months August & September we have now seen a trend where the number of home sales per month have increased and the average sales price have went up.
Additionally the government rescue plan will take foreclosure and short sales property off the market.
So if you have been waiting for the right time to buy it is now! Cash is king, so if you've taken money out of the market you can buy your Keys dream property at a reduced price compared to a few years ago. If you wait too long, the sellers will see the market has bottomed and will start increasing their asking prices or become less flexible with their negotiating positions.
If you want a mortgage and have good credit there are a number of mortgage companies including Century Funding that can assist you.
I am available to help you find the property your looking for, just give me a call or send me an email and I'll do everything I can to locate the perfect property for you.
Rob Skeel
Realtor
Century 21 Prestige Realty
305-393-6300
800-541-5019
rob@robskeel.com
http://www.robskeel.com
Tuesday, September 30, 2008
Something for Buyers & Sellers
Autumn is a great time to buy
Great Time to Buy FloridaORLANDO, Fla. – Sept. 10, 2008 – This fall could be a particularly great time for first-time buyers or those who have been out of the market for at least three years to jump in, say a variety of real estate professionals.
Here are the reasons why:
• Property prices are probably as low as they are going to go as the market stabilizes, thanks to the government takeover of Freddie Mac and Fannie Mae.
• Interest rates are likely to decline as Freddie and Fannie get government help.
• The Federal Housing Administration recently boosted its loan limits to $729,750 in expensive areas. It’s going to take some of that back on Jan. 1, 2009, when the loan limit shrinks to $625,500.
• The FHA allows down payments of as little as 3 percent, but that will rise to 3.5 percent as of Oct. 1. People scraping dollars together for a down payment should try to set their closing for the end of this month.
• The federal tax credit recently approved will shave $7,500 off a first-time buyer’s federal tax bill due April 15. Buyers who don’t owe tax will get the money as a refund. The government’s definition of a first-time buyer is anyone who hasn’t owned a home in the last three years.
Source: The Washington Post, Elizabeth Razzi (09/07/08)© Copyright 2008 INFORMATION, INC. Bethesda
SET THE STAGE FOR A SALE
Simple fixes and staging practices can focus buyers' attention in the right places and keep them from getting sidetracked by personal items in the home. Here are some staging suggestions from Deborah Ehrlich-Layne of Tampa, Fla.-based Staging Plus, Handyman Matters, and HGTV's show, "The Stagers."
• Eliminate countertop clutter. A countertop covered with small appliances and utensils looks crowded, not spacious.•
Pack up the too-personal. Don't leave toiletries on the counter. Stash family photos.
• Be prepared for snoops. Prospective buyers pull open drawers, look in closets and peek behind the shower curtain.
• Make sure things work. Dripping faucets, burned-out light bulbs and squeaking hinges detract from the home's appeal.
• Think "white-glove clean." Mop, dust, vacuum, clean baseboards and wash windows. Make sure the house looks fresh and smells neutral.
• Make sure the front door is clean and the hardware polished. Power-wash walkways.
• Store furniture that makes rooms feel crowded.
• Show every room for the kind of room it is. Maybe you've turned your formal dining room into a home office. Get rid of the desk and computer, and bring back the dining table and chairs
.Source: The Dallas Morning News (09/05/2008)© Copyright 2008 INFORMATION, INC. Bethesda
Please contact me if your thinking of buying or selling. I'm here to assist you with your Real Estate needs
Rob Skeel
Realtor
Century 21 Prestige Realty Group
305-393-6300800-541-5019
http://www.robskeel.com/
http://robskeel.com/homes_for_sale.shtml
Great Time to Buy FloridaORLANDO, Fla. – Sept. 10, 2008 – This fall could be a particularly great time for first-time buyers or those who have been out of the market for at least three years to jump in, say a variety of real estate professionals.
Here are the reasons why:
• Property prices are probably as low as they are going to go as the market stabilizes, thanks to the government takeover of Freddie Mac and Fannie Mae.
• Interest rates are likely to decline as Freddie and Fannie get government help.
• The Federal Housing Administration recently boosted its loan limits to $729,750 in expensive areas. It’s going to take some of that back on Jan. 1, 2009, when the loan limit shrinks to $625,500.
• The FHA allows down payments of as little as 3 percent, but that will rise to 3.5 percent as of Oct. 1. People scraping dollars together for a down payment should try to set their closing for the end of this month.
• The federal tax credit recently approved will shave $7,500 off a first-time buyer’s federal tax bill due April 15. Buyers who don’t owe tax will get the money as a refund. The government’s definition of a first-time buyer is anyone who hasn’t owned a home in the last three years.
Source: The Washington Post, Elizabeth Razzi (09/07/08)© Copyright 2008 INFORMATION, INC. Bethesda
SET THE STAGE FOR A SALE
Simple fixes and staging practices can focus buyers' attention in the right places and keep them from getting sidetracked by personal items in the home. Here are some staging suggestions from Deborah Ehrlich-Layne of Tampa, Fla.-based Staging Plus, Handyman Matters, and HGTV's show, "The Stagers."
• Eliminate countertop clutter. A countertop covered with small appliances and utensils looks crowded, not spacious.•
Pack up the too-personal. Don't leave toiletries on the counter. Stash family photos.
• Be prepared for snoops. Prospective buyers pull open drawers, look in closets and peek behind the shower curtain.
• Make sure things work. Dripping faucets, burned-out light bulbs and squeaking hinges detract from the home's appeal.
• Think "white-glove clean." Mop, dust, vacuum, clean baseboards and wash windows. Make sure the house looks fresh and smells neutral.
• Make sure the front door is clean and the hardware polished. Power-wash walkways.
• Store furniture that makes rooms feel crowded.
• Show every room for the kind of room it is. Maybe you've turned your formal dining room into a home office. Get rid of the desk and computer, and bring back the dining table and chairs
.Source: The Dallas Morning News (09/05/2008)© Copyright 2008 INFORMATION, INC. Bethesda
Please contact me if your thinking of buying or selling. I'm here to assist you with your Real Estate needs
Rob Skeel
Realtor
Century 21 Prestige Realty Group
305-393-6300800-541-5019
http://www.robskeel.com/
http://robskeel.com/homes_for_sale.shtml
Saturday, August 16, 2008
Is now the right time for you to buy your dream home in the Keys?
It is difficult with the current Real Estate market to know when to buy the home of your dreams in the Keys. Hopefully the following information will assist you with your decision making process.
If you need assistance or someone to bounce your real estate questions off, please feel free to call or email me.
INTEREST RATES
For a second straight meeting, the Federal Reserve has decided to remain on the sidelines and leave interest rates unchanged. In the opinion of many economists, that stance may prevail not only for the rest of this year but well into 2009.
HOME SALES
Florida Realtors continued to report positive signs for the state's housing sector in the second quarter of 2008. Sales of both existing single-family homes and existing condos improved in the second quarter compared to first quarter 2008, according to FAR's latest housing data. A total of 35,178 existing homes sold statewide in 2Q 2008, up 38.2 percent over 1Q 2008. Nationwide, existing home sales rose from the first quarter in 13 states, according to NAR's latest survey.
Rob Skeel
Realtor
Century 21 Prestige Realty Group
305-393-6300
800-541-5019
www.RobSkeel.com
http://robskeel.com/homes_for_sale.shtml
BLOG http://floridakeysrealestatebyrob.blogspot.com/
I really appreciate your referrals!
If you need assistance or someone to bounce your real estate questions off, please feel free to call or email me.
INTEREST RATES
For a second straight meeting, the Federal Reserve has decided to remain on the sidelines and leave interest rates unchanged. In the opinion of many economists, that stance may prevail not only for the rest of this year but well into 2009.
HOME SALES
Florida Realtors continued to report positive signs for the state's housing sector in the second quarter of 2008. Sales of both existing single-family homes and existing condos improved in the second quarter compared to first quarter 2008, according to FAR's latest housing data. A total of 35,178 existing homes sold statewide in 2Q 2008, up 38.2 percent over 1Q 2008. Nationwide, existing home sales rose from the first quarter in 13 states, according to NAR's latest survey.
Rob Skeel
Realtor
Century 21 Prestige Realty Group
305-393-6300
800-541-5019
www.RobSkeel.com
http://robskeel.com/homes_for_sale.shtml
BLOG http://floridakeysrealestatebyrob.blogspot.com/
I really appreciate your referrals!
HOME SALES
Florida Realtors continued to report positive signs for the state's housing sector in the second quarter of 2008. Sales of both existing single-family homes and existing condos improved in the second quarter compared to first quarter 2008, according to FAR's latest housing data. A total of 35,178 existing homes sold statewide in 2Q 2008, up 38.2 percent over 1Q 2008. Nationwide, existing home sales rose from the first quarter in 13 states, according to NAR's latest survey.
INTEREST RATES
For a second straight meeting, the Federal Reserve has decided to remain on the sidelines and leave interest rates unchanged. In the opinion of many economists, that stance may prevail not only for the rest of this year but well into 2009.
Florida Realtors continued to report positive signs for the state's housing sector in the second quarter of 2008. Sales of both existing single-family homes and existing condos improved in the second quarter compared to first quarter 2008, according to FAR's latest housing data. A total of 35,178 existing homes sold statewide in 2Q 2008, up 38.2 percent over 1Q 2008. Nationwide, existing home sales rose from the first quarter in 13 states, according to NAR's latest survey.
INTEREST RATES
For a second straight meeting, the Federal Reserve has decided to remain on the sidelines and leave interest rates unchanged. In the opinion of many economists, that stance may prevail not only for the rest of this year but well into 2009.
Tuesday, July 15, 2008
Thinking of selling your home?
When your thinking of putting your home on the market consider the following before you ink the contract.
HOMESELLER SAVVY
A recent home seller, Lucie Amundsen, had to sell her house when her husband was transferred to Duluth, Minn. She learned a few lessons about selling a home in a tough market and says she'd pass the following advice on to anyone else facing the same challenge:•
Make the commitment to sell. "This market eats wishy-washy sellers alive. Sellers should be prepared to let go."
Be prepared for the long haul. "Because I adore my house, I just assumed other people would, too.
Respond to the market. "Long before the 40th showing, we should have dropped the price or taken the property off the market.
"Source: Star-Tribune, Lucie B. Amundsen (06/28/2008)© Copyright 2008 INFORMATION, INC. Bethesda, MD (301) 215-4688
I can assist you selling your home. I'll provide a market analysis and provide you guidance which will help you sell your home in a difficult market.
Rob Skeel
Realtor
Century 21 Prestige Realty Group
305-393-6300
800-541-5019
www.RobSkeel.com
http://robskeel.com/homes_for_sale.shtml
HOMESELLER SAVVY
A recent home seller, Lucie Amundsen, had to sell her house when her husband was transferred to Duluth, Minn. She learned a few lessons about selling a home in a tough market and says she'd pass the following advice on to anyone else facing the same challenge:•
Make the commitment to sell. "This market eats wishy-washy sellers alive. Sellers should be prepared to let go."
Be prepared for the long haul. "Because I adore my house, I just assumed other people would, too.
Respond to the market. "Long before the 40th showing, we should have dropped the price or taken the property off the market.
"Source: Star-Tribune, Lucie B. Amundsen (06/28/2008)© Copyright 2008 INFORMATION, INC. Bethesda, MD (301) 215-4688
I can assist you selling your home. I'll provide a market analysis and provide you guidance which will help you sell your home in a difficult market.
Rob Skeel
Realtor
Century 21 Prestige Realty Group
305-393-6300
800-541-5019
www.RobSkeel.com
http://robskeel.com/homes_for_sale.shtml
Wednesday, June 25, 2008
Real Estate Information
The real estate market continues to decline according to some sources while others state the worst is behind us and we will see improvement by year end.
Who do you believe? If your buying for the future and plan to be using your home for a number of years, then the time to buy is now while the interest rates are still low. Rates have went up a half point in the last two weeks and signs are that they will move up some more. Another thing to consider is the current rate relief the government has in place may expire at year end.
Its difficult to sort out but if your planning to buy property in Paradise you should do it while inventory is high and interest rates are low.
Many realtors are telling sellers, if you don't need to sell you may want to take your property off the market. If they do it will reduce inventory and there won't be as many properties to choose from and prices should start to creep up.
I'm here to help you. So, if you want to discuss your situation or get assistance in finding the right property for you, please contact me.
Below are a couple of articles which provide information you may find helpful.
FLORIDA CONSUMER CONFIDENCE
Higher gas and food prices, continued declines in housing prices and last month's large increase in unemployment caused Florida's consumer confidence to fall six points in June to 57. The UF survey notes, however, that housing prices seem to have hit bottom in some areas of the state.
HOUSING AID
The federal mortgage rescue plan could pass the Senate as soon as today; however, President Bush is threatening a veto and Democrats are fighting each other over key details, which will probably delay any final deal until mid-July.
Articles from Florida Association of Realtors
Rob Skeel
Realtor
Century 21 Prestige Realty Group
305-393-6300800-541-5019
http://www.robskeel.com/
http://robskeel.com/homes_for_sale.shtml
BLOG http://floridakeysrealestatebyrob.blogspot.com/
Who do you believe? If your buying for the future and plan to be using your home for a number of years, then the time to buy is now while the interest rates are still low. Rates have went up a half point in the last two weeks and signs are that they will move up some more. Another thing to consider is the current rate relief the government has in place may expire at year end.
Its difficult to sort out but if your planning to buy property in Paradise you should do it while inventory is high and interest rates are low.
Many realtors are telling sellers, if you don't need to sell you may want to take your property off the market. If they do it will reduce inventory and there won't be as many properties to choose from and prices should start to creep up.
I'm here to help you. So, if you want to discuss your situation or get assistance in finding the right property for you, please contact me.
Below are a couple of articles which provide information you may find helpful.
FLORIDA CONSUMER CONFIDENCE
Higher gas and food prices, continued declines in housing prices and last month's large increase in unemployment caused Florida's consumer confidence to fall six points in June to 57. The UF survey notes, however, that housing prices seem to have hit bottom in some areas of the state.
HOUSING AID
The federal mortgage rescue plan could pass the Senate as soon as today; however, President Bush is threatening a veto and Democrats are fighting each other over key details, which will probably delay any final deal until mid-July.
Articles from Florida Association of Realtors
Rob Skeel
Realtor
Century 21 Prestige Realty Group
305-393-6300800-541-5019
http://www.robskeel.com/
http://robskeel.com/homes_for_sale.shtml
BLOG http://floridakeysrealestatebyrob.blogspot.com/
Thursday, June 12, 2008
NEW RULES FOR HOMEBUYERS
1. Gaming the market doesn't work. There's a chance that the home you buy today will be worth less next year. So instead of trying to time the market, drive a hard bargain for a home you really love.
2. Real winners get the lowest mortgage rate. Financing is getting more expensive. Celia Chen of Moody's Economy.com predicts rates will hit 7 percent in mid 2009.
3. Jumbos are a big bargain. A new law temporarily allows Freddie Mac and Fannie Mae to buy mortgages as big as $729,750, which is keeping the jumbo rates down. The deal disappears at year-end
This is the time to buy in the Florida Keys. There are plenty of homes to choose from and the mortgage rates are still low.
Please let me know what your looking for and I will do my best to find the property for you.
Rob Skeel
Realtor
Century 21 Prestige Realty Group
305-393-6300
800-541-5019
www.RobSkeel.com
http://robskeel.com/homes_for_sale.shtml
BLOG http://floridakeysrealestatebyrob.blogspot.com/
I really appreciate your referals!
2. Real winners get the lowest mortgage rate. Financing is getting more expensive. Celia Chen of Moody's Economy.com predicts rates will hit 7 percent in mid 2009.
3. Jumbos are a big bargain. A new law temporarily allows Freddie Mac and Fannie Mae to buy mortgages as big as $729,750, which is keeping the jumbo rates down. The deal disappears at year-end
This is the time to buy in the Florida Keys. There are plenty of homes to choose from and the mortgage rates are still low.
Please let me know what your looking for and I will do my best to find the property for you.
Rob Skeel
Realtor
Century 21 Prestige Realty Group
305-393-6300
800-541-5019
www.RobSkeel.com
http://robskeel.com/homes_for_sale.shtml
BLOG http://floridakeysrealestatebyrob.blogspot.com/
I really appreciate your referals!
Tuesday, June 3, 2008
Keys Information
This is the time of year in the Florida Keys to think about Mahi Mahi fishing. The reports say fishing is excellent for these delicious fish and there have been some really big ones caught. A young lady landed a 70+ pound fish a week ago and others in the 50 to 60 pound range have been seen hanging from racks on the local docks. If you don't want to spend gas dollars trolling for Mahi Mahi you can go out to one of the reefs and bring in Yellowtail Snapper and Grouper.
If fishing isn't your thing then give diving or snorkeling a try.
There is so much to do in the Keys and almost every day brings with it beautiful weather. You'll be glad you bought in Paradise.
HOME SALES
Florida Realtors reported an upswing in existing home and condo sales from March to April 2008, according to FAR's latest housing statistics. A total of 11,200 existing single-family homes sold statewide in April, a 20 percent increase over March sales activity, while statewide existing condo sales rose 21.6 percent over the same time period.
THAR' SHE BLOWS. OR NOT.
Government forecasters officially predict six to nine hurricanes in 2008, with up to five becoming major storms. However, forecasters say the chances for an above-average season are about 65 percent; the chances for a normal season about 25 percent; and the chances for a slow season about 10 percent, making the outlook sound almost like a guess. Coupled with two recent years of above-average forecasts and below-average storms, Floridians may be getting confused. Two major points must be made, however: One, it doesn't matter if there is only one major storm in 2008 should that one major storm hit your home. Two, less-than-accurate forecasts could make Floridians apathetic about hurricane preparations and forget that they live on a peninsula that sticks out into the ocean like a giant hurricane "Kick Me" sign. Every state homeowner should prepare for the worst even as they hope for the best. For more information, visit floridarealtor.org's "Hurricane Information and Resources" page at: http://www.floridarealtors.org/NewsAndEvents/Before-disaster-strikes.cfm.
When you begin thinking of buying or selling property in the Upper Keys, please give me an opportunity to work with you on your Real Estate needs. I'll get the job done hassle free.
Thanks
Rob Skeel
Realtor
Century 21 Prestige Realty Group
305-393-6300 800-541-5019
http://www.robskeel.com/
http://robskeel.com/homes_for_sale.shtml
If fishing isn't your thing then give diving or snorkeling a try.
There is so much to do in the Keys and almost every day brings with it beautiful weather. You'll be glad you bought in Paradise.
HOME SALES
Florida Realtors reported an upswing in existing home and condo sales from March to April 2008, according to FAR's latest housing statistics. A total of 11,200 existing single-family homes sold statewide in April, a 20 percent increase over March sales activity, while statewide existing condo sales rose 21.6 percent over the same time period.
THAR' SHE BLOWS. OR NOT.
Government forecasters officially predict six to nine hurricanes in 2008, with up to five becoming major storms. However, forecasters say the chances for an above-average season are about 65 percent; the chances for a normal season about 25 percent; and the chances for a slow season about 10 percent, making the outlook sound almost like a guess. Coupled with two recent years of above-average forecasts and below-average storms, Floridians may be getting confused. Two major points must be made, however: One, it doesn't matter if there is only one major storm in 2008 should that one major storm hit your home. Two, less-than-accurate forecasts could make Floridians apathetic about hurricane preparations and forget that they live on a peninsula that sticks out into the ocean like a giant hurricane "Kick Me" sign. Every state homeowner should prepare for the worst even as they hope for the best. For more information, visit floridarealtor.org's "Hurricane Information and Resources" page at: http://www.floridarealtors.org/NewsAndEvents/Before-disaster-strikes.cfm.
When you begin thinking of buying or selling property in the Upper Keys, please give me an opportunity to work with you on your Real Estate needs. I'll get the job done hassle free.
Thanks
Rob Skeel
Realtor
Century 21 Prestige Realty Group
305-393-6300 800-541-5019
http://www.robskeel.com/
http://robskeel.com/homes_for_sale.shtml
Friday, May 9, 2008
Ten Helpful Hints for Sellers--From your Florida Keys Connection
Selling your house in a difficult market can be stressful, here are some ways that can help you sell your. But, remember, if you don't have it priced properly you can do all the following and more and your property may still sit as more competitvely priced houses sell.
Homes that do attract interest are priced right and show well. The grass is cut and the shrubs are manicured, rooms are free of clutter and ratty carpeting has been replaced with a neutral-color berber.
Fair warning: most of these are budget-friendly ideas, but some changes do require a little extra cash.
1. Curb appeal This is arguably the most important part of preparing your home for sale because it’s the buyer’s first impression. Your home doesn’t necessarily have to be repainted, but it should look fresh, with no cracked paint. Consider pressure-cleaning sidewalks, resealing the driveway and replacing the mailbox. Get rid of any debris, weeds and toys in the yard. Sprinkle mulch around the trees and trim the hedges so that they’re not hiding windows. Plant colorful flowers no more than 6 inches high.“Red, purple, orange. “Those colors create excitement in a buyer.
2. Kitchens and bathroomsKitchens are the No. 1 seller of homes, with bathrooms a close second. Consider replacing the kitchen counter tops if they’re old and bland. Everybody loves granite, but laminate, black Formica or four-inch tiles with grout aren’t bad alternatives and cost less. Granite 12-by-12 tiles with thin grout is another possibility, but you may have to do a lot of cutting, depending on the depth of the counter top.Here’s a good rule of thumb: If the house is listed at $500,000 or above, you probably need to spring for granite. To spruce up the bathrooms, replace the fixtures and the sliding shower door. Hang some fluffy white towels. Above all, the bathrooms must be spotless.
3. Doors The front door, if possible, should have glass side panels to allow light to shine through. Replacing the hardware with, say, antique bronze is a cost-effective way to make the door look new. Don’t forget to make sure the doorbell works. Doors inside the house should be painted and the hardware should be the same on each one. Fix any annoying squeaks. Older homes have sliding-glass doors, but there’s not much you can do with those except replace them. French doors will add value, but they’re expensive.
4. Flooring Wood is good, but make sure it’s sanded and restained. Laminate flooring also is fine, but it should be a neutral color. Shampoo the carpet so it’s free of stains and pet smells. You don’t need to buy new carpeting because the homebuyer will want to select it. But if the rug is really bad, get berber from one of the home improvement stores and install it yourself.
5. Lighting Upgrading the lighting is an inexpensive way to improve the look and mood of a house. Replace the fixtures, install dimmers and use soft-wattage light bulbs. Buy a chandelier, but nothing too ornate. Also, keep the outside lights on at night because prospective home buyers often drive through neighborhoods after dark.
6. Living room and closets A cluttered house quickly turns off buyers, so lose the knick-knacks. Make the house appear open and inviting. Pack up one-third of a closet’s contents and store the junk somewhere off site. A crowded closet tells buyers the house doesn’t have adequate storage.
7. Garage Garage organization is big business these days and the before/after photos offer dramatic contrasts. Local companies will come in and get rid of the junk, using bins, cabinets, lockers, hooks and hangers to more neatly store what’s left. The cost of organizing your garage can range from a few hundred dollars to more than $15,000. You could do much of the work yourself. For instance, if the garage floor is stained, paint it gray.
8. Patio Again, less is more. Make sure the junk is gone and that the furniture looks new. Set up the grill. Create a scene that allows potential buyers to see themselves relaxing outside and enjoying the backyard.
9. Ceilings Adding crown molding and removing popcorn ceilings are nice touches but not necessary. If you do try it, hire a professional. In most cases, however, your money would probably be better spent elsewhere.
10. Pool/spa/sprinkler system The pool and spa should have enough water. If there are leaks, or if the equipment is broken, get busy. Don’t forget about the sprinkler system. Granted, sellers don’t want to invest hundreds or thousands of dollars in fixing these items, but it will greatly improve their chances with buyers.© 2008 South Florida Sun-Sentinel, Paul Owers.
I hope one or two of these ideas help you sell your house.
If you haven't listed your property yet, please give me a call. I sell properties in Key Largo, Tavernier, Islamorada and down the Keys to Marathon. I will work closely with you to get the job done!
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300 or 800-541-5019
http://www.robskeel.com/
http://robskeel.com/homes_for_sale.shtml
Homes that do attract interest are priced right and show well. The grass is cut and the shrubs are manicured, rooms are free of clutter and ratty carpeting has been replaced with a neutral-color berber.
Fair warning: most of these are budget-friendly ideas, but some changes do require a little extra cash.
1. Curb appeal This is arguably the most important part of preparing your home for sale because it’s the buyer’s first impression. Your home doesn’t necessarily have to be repainted, but it should look fresh, with no cracked paint. Consider pressure-cleaning sidewalks, resealing the driveway and replacing the mailbox. Get rid of any debris, weeds and toys in the yard. Sprinkle mulch around the trees and trim the hedges so that they’re not hiding windows. Plant colorful flowers no more than 6 inches high.“Red, purple, orange. “Those colors create excitement in a buyer.
2. Kitchens and bathroomsKitchens are the No. 1 seller of homes, with bathrooms a close second. Consider replacing the kitchen counter tops if they’re old and bland. Everybody loves granite, but laminate, black Formica or four-inch tiles with grout aren’t bad alternatives and cost less. Granite 12-by-12 tiles with thin grout is another possibility, but you may have to do a lot of cutting, depending on the depth of the counter top.Here’s a good rule of thumb: If the house is listed at $500,000 or above, you probably need to spring for granite. To spruce up the bathrooms, replace the fixtures and the sliding shower door. Hang some fluffy white towels. Above all, the bathrooms must be spotless.
3. Doors The front door, if possible, should have glass side panels to allow light to shine through. Replacing the hardware with, say, antique bronze is a cost-effective way to make the door look new. Don’t forget to make sure the doorbell works. Doors inside the house should be painted and the hardware should be the same on each one. Fix any annoying squeaks. Older homes have sliding-glass doors, but there’s not much you can do with those except replace them. French doors will add value, but they’re expensive.
4. Flooring Wood is good, but make sure it’s sanded and restained. Laminate flooring also is fine, but it should be a neutral color. Shampoo the carpet so it’s free of stains and pet smells. You don’t need to buy new carpeting because the homebuyer will want to select it. But if the rug is really bad, get berber from one of the home improvement stores and install it yourself.
5. Lighting Upgrading the lighting is an inexpensive way to improve the look and mood of a house. Replace the fixtures, install dimmers and use soft-wattage light bulbs. Buy a chandelier, but nothing too ornate. Also, keep the outside lights on at night because prospective home buyers often drive through neighborhoods after dark.
6. Living room and closets A cluttered house quickly turns off buyers, so lose the knick-knacks. Make the house appear open and inviting. Pack up one-third of a closet’s contents and store the junk somewhere off site. A crowded closet tells buyers the house doesn’t have adequate storage.
7. Garage Garage organization is big business these days and the before/after photos offer dramatic contrasts. Local companies will come in and get rid of the junk, using bins, cabinets, lockers, hooks and hangers to more neatly store what’s left. The cost of organizing your garage can range from a few hundred dollars to more than $15,000. You could do much of the work yourself. For instance, if the garage floor is stained, paint it gray.
8. Patio Again, less is more. Make sure the junk is gone and that the furniture looks new. Set up the grill. Create a scene that allows potential buyers to see themselves relaxing outside and enjoying the backyard.
9. Ceilings Adding crown molding and removing popcorn ceilings are nice touches but not necessary. If you do try it, hire a professional. In most cases, however, your money would probably be better spent elsewhere.
10. Pool/spa/sprinkler system The pool and spa should have enough water. If there are leaks, or if the equipment is broken, get busy. Don’t forget about the sprinkler system. Granted, sellers don’t want to invest hundreds or thousands of dollars in fixing these items, but it will greatly improve their chances with buyers.© 2008 South Florida Sun-Sentinel, Paul Owers.
I hope one or two of these ideas help you sell your house.
If you haven't listed your property yet, please give me a call. I sell properties in Key Largo, Tavernier, Islamorada and down the Keys to Marathon. I will work closely with you to get the job done!
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300 or 800-541-5019
http://www.robskeel.com/
http://robskeel.com/homes_for_sale.shtml
Thursday, April 24, 2008
Good information whether your Buying or Selling
This is a very difficult time for people thinking of buying or selling real estate but the following articles may give you some help deciding what to do.
POLL-Most Americans think it’s a good time to buy a homeWASHINGTON – April 18, 2008
–
A new Reuters/Zogby poll finds that more than half (54 percent) of Americans now think it’s a good time to buy a home. While consumers still view the economy with a wary eye, confidence also improved in April, rebounding to 95.5 percent from a low of 87.7 in March.“Despite months of negative economic news, the overall mood of Americans is showing some signs of improvement – even though most still believe the U.S. is in the midst of a recession,” the poll says. The Reuters/Zogby Index includes 10 poll questions that gauge perception of the state of the country and the economy.Nearly three in four Americans (71 percent) believe the U.S. economy is currently in a recession, a slight decrease from 74 percent who said the same last month.
This month’s survey also finds fewer Americans give their personal financial situation a negative rating (47 percent), compared 54 percent who said the same in March. Slightly more than half (53 percent) rate their personal financial situation as excellent or good, compared to 46 percent last month who felt the same.
Why selling now makes sense BOSTON – April 17, 2008 –
Homeowners reluctant to sell because prices have fallen should do the math and realize that the market downturn could work in their favor, say real estate practitioners in hard-hit, but still pricey Boston.
Their reasoning may work in many other parts of the country as well.“People are finding houses at prices they thought they’d never see again,” says David W. O’Neil of Century 21 Spindler & O’Neil Associates in suburban Boston.O’Neil points out to potential sellers that if the house a buyer covets used to be $500,000 but its price has fallen 20 percent to $400,000, it is a deal, even if the buyer’s own home also has lost 20 percent of its value.In general, the toughest sell is people who bought about four years ago at the height of the market, says Zur Attias of The Attias Group at Barrett & Co. in Concord, Mass. But even for these homeowners, selling now may make sense as long as they can at least break even.
He argues that almost everyone forgoes something, and probably several things, that he or she wanted when buying a house. For instance, the home may be in the right school district but on a busy street. Or it may in a great neighborhood, but it’s a Cape, not a Colonial. These are things Attias calls “unchangeables.
”He says it’s a good time to sell if a seller can get rid of the most negative unchangeables in his current home and replace them with better unchangeables in a new home. Once the market really turns around, the growth will be bigger in the better house, he predicts.
Source: The Boston Globe, Vanessa Parks and Jonathan Wiggs (04/13/2008)
Please let me know if I can help you to sell your property or find a new home. I'm here to assist you and make the process as smooth as possible.
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300
800-541-5019
www.RobSkeel.com
http://robskeel.com/homes_for_sale.shtml
POLL-Most Americans think it’s a good time to buy a homeWASHINGTON – April 18, 2008
–
A new Reuters/Zogby poll finds that more than half (54 percent) of Americans now think it’s a good time to buy a home. While consumers still view the economy with a wary eye, confidence also improved in April, rebounding to 95.5 percent from a low of 87.7 in March.“Despite months of negative economic news, the overall mood of Americans is showing some signs of improvement – even though most still believe the U.S. is in the midst of a recession,” the poll says. The Reuters/Zogby Index includes 10 poll questions that gauge perception of the state of the country and the economy.Nearly three in four Americans (71 percent) believe the U.S. economy is currently in a recession, a slight decrease from 74 percent who said the same last month.
This month’s survey also finds fewer Americans give their personal financial situation a negative rating (47 percent), compared 54 percent who said the same in March. Slightly more than half (53 percent) rate their personal financial situation as excellent or good, compared to 46 percent last month who felt the same.
Why selling now makes sense BOSTON – April 17, 2008 –
Homeowners reluctant to sell because prices have fallen should do the math and realize that the market downturn could work in their favor, say real estate practitioners in hard-hit, but still pricey Boston.
Their reasoning may work in many other parts of the country as well.“People are finding houses at prices they thought they’d never see again,” says David W. O’Neil of Century 21 Spindler & O’Neil Associates in suburban Boston.O’Neil points out to potential sellers that if the house a buyer covets used to be $500,000 but its price has fallen 20 percent to $400,000, it is a deal, even if the buyer’s own home also has lost 20 percent of its value.In general, the toughest sell is people who bought about four years ago at the height of the market, says Zur Attias of The Attias Group at Barrett & Co. in Concord, Mass. But even for these homeowners, selling now may make sense as long as they can at least break even.
He argues that almost everyone forgoes something, and probably several things, that he or she wanted when buying a house. For instance, the home may be in the right school district but on a busy street. Or it may in a great neighborhood, but it’s a Cape, not a Colonial. These are things Attias calls “unchangeables.
”He says it’s a good time to sell if a seller can get rid of the most negative unchangeables in his current home and replace them with better unchangeables in a new home. Once the market really turns around, the growth will be bigger in the better house, he predicts.
Source: The Boston Globe, Vanessa Parks and Jonathan Wiggs (04/13/2008)
Please let me know if I can help you to sell your property or find a new home. I'm here to assist you and make the process as smooth as possible.
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300
800-541-5019
www.RobSkeel.com
http://robskeel.com/homes_for_sale.shtml
Thursday, April 3, 2008
Upper Keys Update
There has been plenty of potential buyers in the Upper Keys looking at properties the past few months. Many are just tire kickers and some are throwing out ridiculiously low offers but sales are happening.
In the last month there have been 10 closed sales and another 6 pending sales of water front properties. The average asking price runs from $590,000 to$4,900,000.
As I've said before there is plenty of great properties on the market and sellers are ready to consider good offers.
Mortgage rates are under 6% for conventional 30 year loans. If you have good credit you can find the home of your dream at a good price with a low mortgage interest rate. Waiting too long can hurt you, prices may start to go up and interest rates may not be as favorable. So if your planning on buying your "Dream Home" in Paradise, now is a great time to do it!
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300 800-541-5019
www.RobSkeel.com
http://robskeel.com/homes_for_sale.shtml
In the last month there have been 10 closed sales and another 6 pending sales of water front properties. The average asking price runs from $590,000 to$4,900,000.
As I've said before there is plenty of great properties on the market and sellers are ready to consider good offers.
Mortgage rates are under 6% for conventional 30 year loans. If you have good credit you can find the home of your dream at a good price with a low mortgage interest rate. Waiting too long can hurt you, prices may start to go up and interest rates may not be as favorable. So if your planning on buying your "Dream Home" in Paradise, now is a great time to do it!
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300 800-541-5019
www.RobSkeel.com
http://robskeel.com/homes_for_sale.shtml
Tuesday, March 18, 2008
STUDY SAYS: MILD HOUSING RECOVERY ON THE WAY
If you've been ready to buy but have waited for some positive signal, hopefully this will help.
It looks like the housing market may have hit bottom, setting the stage for a mild housing recovery to begin prior to year-end 2008, according to a new study by SMR Research Corp. The market's recovery is likely to be gradual, with house prices merely firming up or increasing slightly, rather than returning to the strong growth seen from 2002 to mid-2006, the firm said. An SMR study was among the first to declare (in 2002) that a housing price bubble existed, defined as prices rising faster than consumer incomes. In a 2004 study, SMR forecast that a "perfect storm" in credit quality would cause an explosion in foreclosures within two years. SMR specializes in mortgage and home equity loan industry research. "Our prior forecasts were accurate but widely disbelieved when issued," says SMR President Stuart A. Feldstein. "We similarly expect a skeptical reaction now to a recovery forecast, which is not the common view. But the numbers are what they are." The new recovery forecast was published within SMR's annual spring study. "Homes are now affordable again," Feldstein says. "Consumer psychology is the biggest remaining hurdle to recovery."
© 2008 FLORIDA ASSOCIATION OF REALTORS
I'm here to assist you when your ready to buy. Please let me know what your looking for and I will do my best to find the right property and negotiate the best price for you.
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300--800-541-5019
www.RobSkeel.com
http://robskeel.com/homes_for_sale.shtml
It looks like the housing market may have hit bottom, setting the stage for a mild housing recovery to begin prior to year-end 2008, according to a new study by SMR Research Corp. The market's recovery is likely to be gradual, with house prices merely firming up or increasing slightly, rather than returning to the strong growth seen from 2002 to mid-2006, the firm said. An SMR study was among the first to declare (in 2002) that a housing price bubble existed, defined as prices rising faster than consumer incomes. In a 2004 study, SMR forecast that a "perfect storm" in credit quality would cause an explosion in foreclosures within two years. SMR specializes in mortgage and home equity loan industry research. "Our prior forecasts were accurate but widely disbelieved when issued," says SMR President Stuart A. Feldstein. "We similarly expect a skeptical reaction now to a recovery forecast, which is not the common view. But the numbers are what they are." The new recovery forecast was published within SMR's annual spring study. "Homes are now affordable again," Feldstein says. "Consumer psychology is the biggest remaining hurdle to recovery."
© 2008 FLORIDA ASSOCIATION OF REALTORS
I'm here to assist you when your ready to buy. Please let me know what your looking for and I will do my best to find the right property and negotiate the best price for you.
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300--800-541-5019
www.RobSkeel.com
http://robskeel.com/homes_for_sale.shtml
Monday, March 3, 2008
Real Estate" Food For Thought" for buyers or sellers
If your thinking of buying or selling the following information should assist you with your decision.
1. All I read about in the papers are how real estate prices are falling. Why would I want to buy now when I’ll be able to get a better deal later on?
Answer: It’s true that real estate prices have declined slightly nationwide in the last couple of months, but that’s after an increase of some 88 percent in the last 10 years. In fact, according to the NATIONAL ASSOCIATION OF REALTORS®, 2007 is the fifth best year in the history of real estate in the United States.
Historically, housing prices have risen about 6 percent a year, according to NAR.
Still, it wouldn’t hurt to wait a while, would it?
Answer: One big reason to buy now is that interest rates are still near historic lows. But if oil prices and other rising costs push up inflation, as some economists think they will, interest rates will probably go up, too. That can make your monthly mortgage payment higher and affect how much home you could buy.
Another reason that it’s a great time to buy is that there’s a big inventory of houses to chose from right now. A couple of years ago, when the market was overheated,buyers would just buy the first thing they saw because they were so afraid of not getting any home at all. Now you have the option of more time and a bigger choice so you’ll get the best home for you. And because of the large inventory, you’re in a better position to negotiate a price discount with the seller than you will be when the market begins to strengthen.
Sources Dan Gooder Richard, owner of Gooder Group, a marketing company in Fairfax, Va.; Chris Heller, a salesperson at Keller Williams Realty in Encinitas, Calif.
2. Prices are falling. It’s just not a good time to sell.
Yes, but that was after an increase of some 88 percent in the last 10 years, so you’re still way ahead.” .”“If you don’t have to sell, of course, you have the option to wait, but because of the high inventory of homes, it may be a couple of years for prices to start going up again.
If you’re going to be a buyer, it’s a great time to sell because you’ll make up on the buying side what you don’t get on the selling side. In addition, interest rates are still near historic lows, which may not be the case too much longer, so more buyers will be able to afford your home.
No matter what the market, it takes the same three things to sell — presentation, promotion, and price. Just price your house right against your local competition, and you’ll be able to sell it in a reasonable amount of time.
Sources: Emmanuel Fonte, a sales associate at John L. Scott Real Estate in Bellevue, Wash.; Chris Heller, a salesperson at Keller Williams Realty in Encinitas, Calif.; Dan Gooder Richard, owner of Gooder Group, a marketing company in Fairfax, Va.
If you'd like additional information please contact me. As always, I'm here to assist you in your home purchase, tell me what your seeking and I'll do my best to find it for you.
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300--800-541-5019
http://www.robskeel.com/
http://robskeel.com/homes_for_sale.shtml
1. All I read about in the papers are how real estate prices are falling. Why would I want to buy now when I’ll be able to get a better deal later on?
Answer: It’s true that real estate prices have declined slightly nationwide in the last couple of months, but that’s after an increase of some 88 percent in the last 10 years. In fact, according to the NATIONAL ASSOCIATION OF REALTORS®, 2007 is the fifth best year in the history of real estate in the United States.
Historically, housing prices have risen about 6 percent a year, according to NAR.
Still, it wouldn’t hurt to wait a while, would it?
Answer: One big reason to buy now is that interest rates are still near historic lows. But if oil prices and other rising costs push up inflation, as some economists think they will, interest rates will probably go up, too. That can make your monthly mortgage payment higher and affect how much home you could buy.
Another reason that it’s a great time to buy is that there’s a big inventory of houses to chose from right now. A couple of years ago, when the market was overheated,buyers would just buy the first thing they saw because they were so afraid of not getting any home at all. Now you have the option of more time and a bigger choice so you’ll get the best home for you. And because of the large inventory, you’re in a better position to negotiate a price discount with the seller than you will be when the market begins to strengthen.
Sources Dan Gooder Richard, owner of Gooder Group, a marketing company in Fairfax, Va.; Chris Heller, a salesperson at Keller Williams Realty in Encinitas, Calif.
2. Prices are falling. It’s just not a good time to sell.
Yes, but that was after an increase of some 88 percent in the last 10 years, so you’re still way ahead.” .”“If you don’t have to sell, of course, you have the option to wait, but because of the high inventory of homes, it may be a couple of years for prices to start going up again.
If you’re going to be a buyer, it’s a great time to sell because you’ll make up on the buying side what you don’t get on the selling side. In addition, interest rates are still near historic lows, which may not be the case too much longer, so more buyers will be able to afford your home.
No matter what the market, it takes the same three things to sell — presentation, promotion, and price. Just price your house right against your local competition, and you’ll be able to sell it in a reasonable amount of time.
Sources: Emmanuel Fonte, a sales associate at John L. Scott Real Estate in Bellevue, Wash.; Chris Heller, a salesperson at Keller Williams Realty in Encinitas, Calif.; Dan Gooder Richard, owner of Gooder Group, a marketing company in Fairfax, Va.
If you'd like additional information please contact me. As always, I'm here to assist you in your home purchase, tell me what your seeking and I'll do my best to find it for you.
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300--800-541-5019
http://www.robskeel.com/
http://robskeel.com/homes_for_sale.shtml
Friday, February 22, 2008
Information to consider if your almost ready to buy a home
For those of you thinking of buying a home but unsure of whether or not this is the time to do it the following information from the Florida Association of Realtors may offer some help.
Nobody is buying homes anymore.
”Nationally, 2007 was the fifth-best year of sales in U.S. history, according to Lawrence Yun, senior economist, National Association of Realtors® (NAR). “Now that mortgage conditions have improved, some postponed activity should turn up in existing-home sales over the next couple of months, and I expect sales at fairly stable to slightly higher levels,” he says. NAR statistics indicate existing-home sales for 2007 will probably total 5.66 million, rising to 5.70 million this year and 5.91 million in 2009. In Florida, approximately 160,000 existing homes and condominiums were purchased during the first 11 months of 2007, according to FAR statistics. That’s a decrease from the market’s peak in 2004-05, but still a healthy level of activity
“Home prices will only go lower.
”The housing market is not having a “going out of business” sale. While some sellers are cutting their prices, others are not. In fact, FAR statistics show just a 5 percent statewide decline in home prices and a 3 percent decrease in condo prices over the past year. Historically, a rapid jump in home prices has been followed by a period of stability, not decline. “In Florida, residential prices shoot up quickly and then stabilize,” says economist Hank Fishkind, Ph.D. of Fishkind & Associates, Inc., Orlando. “Even when there is excess supply, prices don’t tend to come down.” (http://media.floridarealtors.org/statistics/statisticsfull.htm)
“Historically, home values don’t rise.
”Think back to what your parents paid for their homes, and it’s clear that residential values have increased substantially over the years. Nationally, home prices rose 88 percent from 1995 to 2005. “Historically, home prices rise 1.5 to 2 percentage points faster than the rate of inflation, says David Lereah, NAR’s former chief economist. In Florida, the median sales price for existing single-family homes in November 2007 was $215,800 – a 52.5 percent increase over the five-year-period since November 2002, according to FAR records. (http://www.realtor.org/home_buyers_and_sellers/buy_now_talking_points.html)
I hope these articles assist you in your decision making process. As always, when you need assistance in finding the home of your dreams, please let me know and I'll do the searching for you and will work to find the home your seeking.
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300
http://www.robskeel.com/http://robskeel.com/homes_for_sale.shtml
Nobody is buying homes anymore.
”Nationally, 2007 was the fifth-best year of sales in U.S. history, according to Lawrence Yun, senior economist, National Association of Realtors® (NAR). “Now that mortgage conditions have improved, some postponed activity should turn up in existing-home sales over the next couple of months, and I expect sales at fairly stable to slightly higher levels,” he says. NAR statistics indicate existing-home sales for 2007 will probably total 5.66 million, rising to 5.70 million this year and 5.91 million in 2009. In Florida, approximately 160,000 existing homes and condominiums were purchased during the first 11 months of 2007, according to FAR statistics. That’s a decrease from the market’s peak in 2004-05, but still a healthy level of activity
“Home prices will only go lower.
”The housing market is not having a “going out of business” sale. While some sellers are cutting their prices, others are not. In fact, FAR statistics show just a 5 percent statewide decline in home prices and a 3 percent decrease in condo prices over the past year. Historically, a rapid jump in home prices has been followed by a period of stability, not decline. “In Florida, residential prices shoot up quickly and then stabilize,” says economist Hank Fishkind, Ph.D. of Fishkind & Associates, Inc., Orlando. “Even when there is excess supply, prices don’t tend to come down.” (http://media.floridarealtors.org/statistics/statisticsfull.htm)
“Historically, home values don’t rise.
”Think back to what your parents paid for their homes, and it’s clear that residential values have increased substantially over the years. Nationally, home prices rose 88 percent from 1995 to 2005. “Historically, home prices rise 1.5 to 2 percentage points faster than the rate of inflation, says David Lereah, NAR’s former chief economist. In Florida, the median sales price for existing single-family homes in November 2007 was $215,800 – a 52.5 percent increase over the five-year-period since November 2002, according to FAR records. (http://www.realtor.org/home_buyers_and_sellers/buy_now_talking_points.html)
I hope these articles assist you in your decision making process. As always, when you need assistance in finding the home of your dreams, please let me know and I'll do the searching for you and will work to find the home your seeking.
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300
http://www.robskeel.com/http://robskeel.com/homes_for_sale.shtml
Thursday, February 7, 2008
Some good real estate news
There has been some good news that should help people thinking about purchasing Florida Keys real estate in 2008. The following are two article recaps about mortgages and real estate tax changes that will help you buy that home in Paradise.
Proposed mortgage plan could aid marketsWASHINGTON – Jan. 25, 2008
– A component of the government’s tentative economic stimulus package announced Thursday would give an immediate lift to buyers and sellers in higher-priced housing markets.The package agreed upon by Democratic and Republican members of the House would allow government-sponsored Fannie Mae and Freddie Mac to buy mortgages up to 75 percent more expensive than the current $417,000 limit. The Senate and White House still must sign off on the proposed stimulus plan, which also includes tax rebates for Americans.Raising the limit on so-called conforming loans will allow a larger pool of borrowers to find lower rates when buying a new home or refinancing an existing mortgage.“It’s good for homebuyers who have prime credit, have some money to put down and can meet tougher underwriting standards that are in place now,” said Guy Cecala, publisher of Inside Mortgage Finance, a trade publication.
"Yes on Amendment 1" passed for the following reasons:
• People who have felt trapped in their homes – unable to size up or scale down – can now afford to sell.• Keeps Save Our Homes while cutting taxes and expanding the homestead exemption for the first time since 1980. Caps non-homestead property assessments at 10 percent annually.
There are currently plenty of homes for sale at very good prices with motivated sellers.
Please let me know what your looking for and I will help you find just the right property.
Look forward to hearing from you. As always, I appreciate your feedback.
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300 or 800-541-5019
http://www.robskeel.com/
http://robskeel.com/homes_for_sale.shtml
Proposed mortgage plan could aid marketsWASHINGTON – Jan. 25, 2008
– A component of the government’s tentative economic stimulus package announced Thursday would give an immediate lift to buyers and sellers in higher-priced housing markets.The package agreed upon by Democratic and Republican members of the House would allow government-sponsored Fannie Mae and Freddie Mac to buy mortgages up to 75 percent more expensive than the current $417,000 limit. The Senate and White House still must sign off on the proposed stimulus plan, which also includes tax rebates for Americans.Raising the limit on so-called conforming loans will allow a larger pool of borrowers to find lower rates when buying a new home or refinancing an existing mortgage.“It’s good for homebuyers who have prime credit, have some money to put down and can meet tougher underwriting standards that are in place now,” said Guy Cecala, publisher of Inside Mortgage Finance, a trade publication.
"Yes on Amendment 1" passed for the following reasons:
• People who have felt trapped in their homes – unable to size up or scale down – can now afford to sell.• Keeps Save Our Homes while cutting taxes and expanding the homestead exemption for the first time since 1980. Caps non-homestead property assessments at 10 percent annually.
There are currently plenty of homes for sale at very good prices with motivated sellers.
Please let me know what your looking for and I will help you find just the right property.
Look forward to hearing from you. As always, I appreciate your feedback.
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300 or 800-541-5019
http://www.robskeel.com/
http://robskeel.com/homes_for_sale.shtml
Wednesday, January 23, 2008
Study concludes global warming diminishing Hurricane Activety
Interesting findings about Hurricane activety.
Global warming causing fewer hurricanes, study showsMIAMI – Jan. 23, 2008 – Intensifying one of the hottest debates in science, a new report concludes that global warming actually is diminishing the number of hurricanes that strike Florida and the rest of the United States – and the phenomenon is likely to continue.The study, produced by two respected South Florida researchers, found that the planet’s oceans have been warming for more than a century. No surprise there, but this may be:Those warmer oceans are producing stronger crosswinds that tend to suppress the development and growth of hurricanes, according to the scientists.“We found a gentle decrease in the trend of U.S. landfalling hurricanes as global oceans warmed up,” said Chunzai Wang, an oceanographer and climate scientist at the National Oceanic and Atmospheric Administration’s research facility on Virginia Key.Some previous studies found that global warming was increasing the number and intensity of hurricanes, a conclusion that supported the conventional wisdom that warmer seas automatically turbocharge hurricane development.This latest study, conducted by Wang and Sang-Ki Lee of the University of Miami, will be published Wednesday in the journal Geophysical Research Letters. Like all reports accepted by reputable scientific journals, it was scrutinized and reviewed by experts in the field.Though it is still early in the process, the study raises questions about how the insurance industry, which sets rates based on risk models, will respond to reports that appear to contradict each other.Many other studies have used computerized statistical models to predict the future consequences of global warming, but Wang and Lee conducted a rigorous “observational” examination of records reaching back to 1854.They found that nearly every ocean on Earth has warmed since then, producing a variety of effects including stronger crosswinds, a phenomenon called wind shear.When they matched those findings with records of hurricanes that have struck the United States, they discovered a correlation that illustrates the danger of making assumptions about the climate and challenges some previous findings and predictions.“The increased wind shear coincides with a weak but consistent downward trend in U.S. landfalling hurricanes, a reliable measure of hurricanes over the long term,” the report found.Interestingly, the researchers found that warmer temperatures in the tropical Atlantic decrease wind shear, while warmer temperatures in the tropical Pacific and Indian oceans increase shear – but the winds produced over the Pacific and Indian oceans are most important.“Warmings in the tropical Pacific and Indian oceans win the competition and produce increased wind shear, which reduces U.S. landfalling hurricanes,” the report concludes.The study represents another salvo in the war between two camps of hurricane researchers.Both groups agree that global warming is occurring, but they differ sharply about what effect – if any – it’s having on hurricane development.One side says that hurricanes are forming more frequently than they did a century or more ago, maybe even twice as often, and are growing more powerful, largely as a result of warmer oceans.The other side acknowledges a decades-long upswing in hurricane activity. But those researchers say that when you smooth out the peaks and valleys (and account for numerous storms that could not be detected before satellites and hurricane hunter flights), hurricanes are forming at about the same rate – or possibly less frequently – than in the past.“This study is one more piece of evidence countering the exaggerated claims by a small group of scientists that warming trends in tropical oceans have been contributing to major increases in hurricane activity,” said Stanley Goldenberg, a NOAA researcher who has been skeptical of previous reports of a link between global warming and more hurricanes.Wang said additional study is required before firm predictions can be issued, but he believes global warming will not enhance the number and intensity of hurricanes that strike the United States in the foreseeable future.“I think the three oceans will continue to warm up, but the net effect will be to increase shear over the Atlantic Ocean,” he said.On the Net: NOAA on the new study:
I'd like to hear your views on this subject if you have an opinion.
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300
800-541-5019
Global warming causing fewer hurricanes, study showsMIAMI – Jan. 23, 2008 – Intensifying one of the hottest debates in science, a new report concludes that global warming actually is diminishing the number of hurricanes that strike Florida and the rest of the United States – and the phenomenon is likely to continue.The study, produced by two respected South Florida researchers, found that the planet’s oceans have been warming for more than a century. No surprise there, but this may be:Those warmer oceans are producing stronger crosswinds that tend to suppress the development and growth of hurricanes, according to the scientists.“We found a gentle decrease in the trend of U.S. landfalling hurricanes as global oceans warmed up,” said Chunzai Wang, an oceanographer and climate scientist at the National Oceanic and Atmospheric Administration’s research facility on Virginia Key.Some previous studies found that global warming was increasing the number and intensity of hurricanes, a conclusion that supported the conventional wisdom that warmer seas automatically turbocharge hurricane development.This latest study, conducted by Wang and Sang-Ki Lee of the University of Miami, will be published Wednesday in the journal Geophysical Research Letters. Like all reports accepted by reputable scientific journals, it was scrutinized and reviewed by experts in the field.Though it is still early in the process, the study raises questions about how the insurance industry, which sets rates based on risk models, will respond to reports that appear to contradict each other.Many other studies have used computerized statistical models to predict the future consequences of global warming, but Wang and Lee conducted a rigorous “observational” examination of records reaching back to 1854.They found that nearly every ocean on Earth has warmed since then, producing a variety of effects including stronger crosswinds, a phenomenon called wind shear.When they matched those findings with records of hurricanes that have struck the United States, they discovered a correlation that illustrates the danger of making assumptions about the climate and challenges some previous findings and predictions.“The increased wind shear coincides with a weak but consistent downward trend in U.S. landfalling hurricanes, a reliable measure of hurricanes over the long term,” the report found.Interestingly, the researchers found that warmer temperatures in the tropical Atlantic decrease wind shear, while warmer temperatures in the tropical Pacific and Indian oceans increase shear – but the winds produced over the Pacific and Indian oceans are most important.“Warmings in the tropical Pacific and Indian oceans win the competition and produce increased wind shear, which reduces U.S. landfalling hurricanes,” the report concludes.The study represents another salvo in the war between two camps of hurricane researchers.Both groups agree that global warming is occurring, but they differ sharply about what effect – if any – it’s having on hurricane development.One side says that hurricanes are forming more frequently than they did a century or more ago, maybe even twice as often, and are growing more powerful, largely as a result of warmer oceans.The other side acknowledges a decades-long upswing in hurricane activity. But those researchers say that when you smooth out the peaks and valleys (and account for numerous storms that could not be detected before satellites and hurricane hunter flights), hurricanes are forming at about the same rate – or possibly less frequently – than in the past.“This study is one more piece of evidence countering the exaggerated claims by a small group of scientists that warming trends in tropical oceans have been contributing to major increases in hurricane activity,” said Stanley Goldenberg, a NOAA researcher who has been skeptical of previous reports of a link between global warming and more hurricanes.Wang said additional study is required before firm predictions can be issued, but he believes global warming will not enhance the number and intensity of hurricanes that strike the United States in the foreseeable future.“I think the three oceans will continue to warm up, but the net effect will be to increase shear over the Atlantic Ocean,” he said.On the Net: NOAA on the new study:
I'd like to hear your views on this subject if you have an opinion.
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300
800-541-5019
Wednesday, January 9, 2008
Signs of Florida Keys real estate rebound appear late 2007
This information was in the newspaper the other day:
Single family waterfront homes have strongly bucked the downward trend. Sales prices average +32% more than non- waterfront with many more sales.
Overall home inventory continues to decline with fewer listed homes for sale during the last six months of '07.
Owners accepted 17.5% less than asked during that period.
Inventory decline combined with lower prices could soon begin a year-long real estate rebound.
I'll also through in low interest rates and the fact that if you have good credit history you can obtain a decent rate and terms without too much hassle.
As always if your planning to purchase property in the Keys please contact me and I'll do my best to assist you.
I welcome your comments and thoughts, please give me feedback of what you think about the potential real estate market turnaround.
Single family waterfront homes have strongly bucked the downward trend. Sales prices average +32% more than non- waterfront with many more sales.
Overall home inventory continues to decline with fewer listed homes for sale during the last six months of '07.
Owners accepted 17.5% less than asked during that period.
Inventory decline combined with lower prices could soon begin a year-long real estate rebound.
I'll also through in low interest rates and the fact that if you have good credit history you can obtain a decent rate and terms without too much hassle.
As always if your planning to purchase property in the Keys please contact me and I'll do my best to assist you.
I welcome your comments and thoughts, please give me feedback of what you think about the potential real estate market turnaround.
Rob Skeel Realtor
Centuny 21 Prestige Realty Group
305-393-6300
http://robskeel.com/homes_for_sale.shtml
Friday, January 4, 2008
Welcome to 2008
The holidays are now behind us and we've moved in to 2008.
I hope you all had a great holiday season and that you have a super New Year.
Winter has finally come to the Keys and south Florida, we've had three days of what we consider cold weather and the temperature is now rising. The one good thing about the colder weather is that you get to wear some different clothing for a few days.
The snow birds have arrived and traffic has picked up. There are more buyers driving around and inquiring about various properties. It appears that the condo market is beginning to improve with 7 pending sales currently in the Upper Keys. There hasn't been that many at one time in all of 2007 and this is before our primary selling season has begun.
As always, if your coming down for a visit and are considering purchasing a home in paradise, please let me know and I'll do my best to help you find just the right property.
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300
http://www.robskeel.com/
http://robskeel.com/homes_for_sale.shtm
lBLOG http://floridakeysrealestatebyrob.blogspot.com/
I hope you all had a great holiday season and that you have a super New Year.
Winter has finally come to the Keys and south Florida, we've had three days of what we consider cold weather and the temperature is now rising. The one good thing about the colder weather is that you get to wear some different clothing for a few days.
The snow birds have arrived and traffic has picked up. There are more buyers driving around and inquiring about various properties. It appears that the condo market is beginning to improve with 7 pending sales currently in the Upper Keys. There hasn't been that many at one time in all of 2007 and this is before our primary selling season has begun.
As always, if your coming down for a visit and are considering purchasing a home in paradise, please let me know and I'll do my best to help you find just the right property.
Rob Skeel Realtor
Century 21 Prestige Realty Group
305-393-6300
http://www.robskeel.com/
http://robskeel.com/homes_for_sale.shtm
lBLOG http://floridakeysrealestatebyrob.blogspot.com/
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