Tony Perez

REAL ESTATE RECOVERY

Since the government said it would take over Fannie Mae and Freddie Mac, there's been an accelerating drop in mortgage rates, raising hopes that more buyers might be drawn into the housing market and hasten the recovery.

Read the full story:

http://www.floridarealtors.org/NewsAndEvents/n3-091008.cfm

GREAT TIME TO BUY

This fall could be a great time for many buyers to jump into the market thanks to tax credits, lower mortgage rates and FHA changes that, effective Jan. 1, decrease mortgage amounts and increase downpayment requirements.

Read the full story:

http://www.floridarealtors.org/NewsAndEvents/n4-091008.cfm

FORECLOSURES

The number of failing mortgages in Florida continued to rise in the second quarter, according to the latest Mortgage Bankers Association survey. In Florida, the percentage of home loans in foreclosure was higher than in any other state and almost double the national average. A small consolation: Subprime foreclosures may have hit their peak in Florida, the report says.

Read the full story:

http://www.floridarealtors.org/NewsAndEvents/n3-090808.cfm

There's two sides to every story and though it's true that more foreclosures keep coming through the flip side is that there's buyer's willing, able & ready to buy those good deals. My last 2 deals have been Bank Owned properties and they are not lasting long if they are priced right. Currently in parts of Naples, FL. the single family homes that are being snatched up are the ones priced under $100 per sq.ft. of living space or under air.

I'll keep spreading the word because there's a buyer out there for every great foreclosure that comes through and i'm going to be there to sell it. Have a great day!

FANNIE MAE AND FREDDIE MAC

What does the federal government bailout of Fannie Mae and Freddie Mac mean to home buyers and sellers? Generally, it's a good thing, and brings stability to the mortgage market. Most experts even expect mortgage rates to drop some over the short term, though qualifying for a mortgage will remain a challenge unless the feds tinker with fees or rules.

Read the full story:

http://www.floridarealtors.org/NewsAndEvents/n1-090808.cfm

Stocks mostly advanced Monday as investors rushed to lay bets on a recovery in the financial and housing sectors following the weekend announcement that the U.S. government will bail out mortgage giants Fannie Mae and Freddie Mac.

http://www.msnbc.msn.com/id/3683270/from/ET/

Look at all the action in Golden Gate City over the last couple of months especially in August 2008. These charts are from Sunshine MLS and show Single Family Homes sold, pendings, new listings & median sold price.

• As you can see SOLD listings are on the rise up 43% from July 2008
• PENDING or UNDER CONTRACT listings are up 38% from July 2008
• NEW listings are down 30% from July 2008
• MEDIAN SOLD PRICE is up 33% from July 2008

(Median means half the homes sold for more than $150,900 and half sold for less than $150,900)

These are all very good signs that the inventory is going down and people are buying up the great deals that exist out there in the market place. What happens now is that all the better looking properties get snatched up first leaving less and less great looking properties to buy.

So don't hesitate too much longer the window of oppurtunity in SWFL is now and probably won't be open for too long. History shows when there's a new president election with either party, interest rates go up and currently the rates TODAY are at 5.875% on a 30 year FIXED loan.

If you need to see if you can get pre-approved for a home loan let me know and i'll point you in the right direction, there's some great government finance programs out there for you, just take the first step and call. Thanks and have a great day...

Hello fellow Realtors, just wanted to take the time to tell you about a local/national website called i-gocity.com. The reason for letting you know is for some additional exposure that's the same reason why i joined Active Rain, to get more exposure and it worked i got my first lead today. I also got my first lead from the I-Go City website 2 weeks ago and i'm currently working with the client on purchasing a home in Naples, FL.

Anyways long story short you can sponsor a community/neighborhood similiar to Localism.com which i'm apart of as well for the neighborhood of Golden Gate Estates in Naples, FL. You might want to check it out here's the link that talks about the advertising that's available on the site. Also you can post your listings on there for FREE for 180 days but the main thing i like is that there's more for the consumer on the site than just Real Estate. Click the picture below to read the article that the Naples Daily News wrote about the site.

http://www.i-gocity.com/page.php?page=advertisers