I think when a so called Real Estate expert starts to talk, someone should tape their month.
I have already heard a couple of news casts talk about "another Real Estate Bubble."
Yes prices have gone up since last year, Yes there have been more sales since last year.
Here are the real facts. Here in Florida in January, February, and March, we have Snow Birds from all over the U.S. and Canada and other parts of the world looking to buy a winter home here. They sign purchase contracts during those months. Therefore sales "closings" or as some of my Boston friends call it "Pass Papers" during April and May showing an increase in Real Estate sales for those two months. So lets wait and see what happens in June and July.
Now I know coming from the North East myself, the spring and summer months will pick up with single family homes. Still this dose not mean a another Real Estate Bubble. So lets wait and see what happens in June and July.
Now back in 06, 07, if you tuned into a news show such as CNBC, all you hear was the Real Estate Bubble, when would the crash come? It made me sick.
While listing and selling back then, I remember a place where I sold over $2,000,000 in condos. During that time there was consistently 40 + condos for sale listed on MLS every month for over 2 years. Some stayed on MLS for over a year.
I had many listings there. When I asked why are you selling, I had a verity of answers. Take the money and run, going to make money and live with my kids, and some even said I don't know, everybody else is selling.
Panic then, no panic now. That same condo complex has as of today 12 on the market for sale.
Inventory is low, prices are low and mortgage rates are low. A great time to buy your new home here is South Florida.
Wednesday, June 5, 2013
Tuesday, April 16, 2013
For most people, Owning a new home is still the American Dream. As everyone knows the last several years made it a nightmare.and for most impossible to achieve.
The Real Estate bubble which as far I am concerned was caused by greed, by banks and developers who built homes like there was no tomorrow.
Some people blamed it on the buyers. This is true if you where one of those who sat on lines even before the ground was broke to buy up a condo or house with the intention of flipping and make what you may have though a fortune.
But as we all know that did not happen for the majority. Most fell into foreclose and short sales. Real Estate bubble bursts.
I do believe most buyers where just full filling their American Dream, to own their own home.
That brings us to the Real Estate market today.
Inventory is a little low which causes home prices to rise. Keep in mind there are a lot of homes the banks are holding back on foreclosing so the market won't truly collapse. This is good. They where the partial cause of the problems we now have so they are now getting a little smarter.
This is a great time to buy a new home. Prices are low and mortgage rates are low. If you have the down payment and can afford a new home now is the time to buy. Let me caution you on one thing, when it comes to mortgages. To me you should only get a fixed rate mortgage. I know the banks and mortgage companies will show you the low payments you will have in an adjustable rate mortgage.
But in 5 or 7 years no one knows where that rate may be. If it goes up you may not be a financial position to pay your new higher mortgage.
I hope this information was helpful.
For more information on buying or selling a home in the Delray Beach...Boca Raton...Highland Beach areas please e-mail me at josephlaviola@msn.com
Joe LaViola
Lang Realty Inc.
900 East Atlantic Ave
Delray Beach, Fl. 33483
The Real Estate bubble which as far I am concerned was caused by greed, by banks and developers who built homes like there was no tomorrow.
Some people blamed it on the buyers. This is true if you where one of those who sat on lines even before the ground was broke to buy up a condo or house with the intention of flipping and make what you may have though a fortune.
But as we all know that did not happen for the majority. Most fell into foreclose and short sales. Real Estate bubble bursts.
I do believe most buyers where just full filling their American Dream, to own their own home.
That brings us to the Real Estate market today.
Inventory is a little low which causes home prices to rise. Keep in mind there are a lot of homes the banks are holding back on foreclosing so the market won't truly collapse. This is good. They where the partial cause of the problems we now have so they are now getting a little smarter.
This is a great time to buy a new home. Prices are low and mortgage rates are low. If you have the down payment and can afford a new home now is the time to buy. Let me caution you on one thing, when it comes to mortgages. To me you should only get a fixed rate mortgage. I know the banks and mortgage companies will show you the low payments you will have in an adjustable rate mortgage.
But in 5 or 7 years no one knows where that rate may be. If it goes up you may not be a financial position to pay your new higher mortgage.
I hope this information was helpful.
For more information on buying or selling a home in the Delray Beach...Boca Raton...Highland Beach areas please e-mail me at josephlaviola@msn.com
Joe LaViola
Lang Realty Inc.
900 East Atlantic Ave
Delray Beach, Fl. 33483
Saturday, April 13, 2013
Tropic Isle Delray Beach Florida
Beautiful Tropic Isle in Delray Beach, Florida
Offering Single Family Homes on the Intracoastal Waterway and homes on deep water canals.
No fixed bridges and easy access to the Atlantic Ocean.
Homes with 3, 4 and up to 7 bedrooms. All the comforts you desire for that great Florida Lifestyle. Come and have fun in the Sun.
Call Joe LaViola for showings in the great community. No HOA
561-251-1011
Lang Realty
900 East Atlantic Ave
Delray Beach, Florida 33483
Delray Beach, Florida 33483
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