I know that none of you men need reminding but.........Valentine's Day is February 14th, next Thursday!
I believe this year is off to a good real estate start! We've had more activity in the first two months of 2008 than we did in the last 4-5 months of 2007!!!
I believe we have 9 residential properties under contract right now and several offers are being thrown around this weekend.
I am sure I am like many of you----chomping at the bit to buy something.....there are some exceptional deals out there----however, I own too much real estate now and can't really buy anything else unless I sell something first! It is definitely a vicious circle!
Last year we sold pretty much exclusively to "end users". Buyers who are going to use the property for the next 15 years! Even if their property value has lowered a bit since they purchased it certainly will appreciate greatly in the next 15 years.
I continually repeat myself when I say......real estate is a great long term investment.......you can pretty much count on better than the average CD rate appreciation----long term.
If you are an "end-user" I truly believe you can't go wrong purchasing now. I've got some great deals----call me!
The "flipping" is practically over although you may still be able to find a property at such a good price that it is still possible. You just have to be brave enough to make those low offers!
There have been some investors getting back into the game in our area. As you recall, this is why the market sky rocketed so quickly last time. We are no where near that right now, but be careful, if you wait until the investors are back in full force, you will be too late!
Foreclosures and short sales: We now have 21 foreclosures, short sales, or estate sales in the Beaches to Port St. Joe area that I am aware of. There are probably a few more.
1 of those just closed in the last few days---more than $50K off the asking price.
4 more of those are under contract.
5 of those are gulf front properties--------if you are looking for a gulf front deal....here they are....give me a call!!!!!!
I've got some customers who are looking ONLY at foreclosures. I think this is a mistake, especially since they are end-users! I think there are equally good deals out there that aren't foreclosures, you just have to be willing to make the offer of what you think that property is worth. If the seller doesn't take it and you can't reach an agreement, simply move on!
The media has us in a recession. Its amazing the power the media has! I've talked to several service related people lately and they say the opposite---they are busy and have a good feeling about this year!!! I've also talked to several contractors who service commercial developments and they say the same thing, just as busy as ever!!!
I think Americans should "tighten up" their purse strings and save more anyway, perhaps we should continue to believe we are all doomed and maybe that would get many of you (not me, I don't use credit cards!) to stop using your credit cards!
Bush has passed a "stimulus" package to get people to start spending more. Perhaps instead of saying spending more, we should say "investing wisely". I think that is where we go wrong, lets not just push haphazard, frivolous spending, but let's encourage people to invest---whether it be in real estate, or a savings account!
Well, I pray everyone has a wonderful weekend and upcoming week.
Remember to count your blessings and kiss your loved ones!
Please feel free to call or email me anytime.
Thank you for your continued business!