The good news is ... inventory levels in South Florida continue to decline from a high of 41,196 (October 2007) to 38,360 today (a decline of 6%). Also, we have gone from a 4+ year supply of homes to a 2 year supply of homes. These are all solid indications that we are approaching the bottom of the housing crisis.
Unfortunately the decline of inventory is not due to increased sales. The decline is because home owners are taking their homes off the market ... 26,641 listings have expired this year.
Additionally, the foreclosure rate continues to skyrocket ... 25% of all properties for sale in South Florida are either bank owned or in pre-foreclosure. The bank owned properties will continue to dominate pricing for 2 more years ... some segments locally have seen a 26 -- 29% drop THIS YEAR.
If you need to sell your home or know of someone that needs to sell their home, please call me immediately. I and my team have set lofty goals this year and we need YOUR help.
If you, or anyone you know, has ever thought about investing in real estate, this is the time!!!!
Regardless of when the market turns around, in 10 years you will look like a genius.
Oceanfront home? Investment Properties? Condos on the water? This is the time to buy.
WE can help you or recommend a top agent anywhere in the country.
Nicholas Goglucci, PA., CRS
Certified Residential Specialist
Certified Luxury Home Marketing Specialist
e-Pro Agent
Re/Max In Motion
Direct: 954-650-7800
Fax: 954-903-4348
www.GoglucciTeam.com
The good news is ... inventory levels in South Florida continue to decline from a high of 41,196 (October 2007) to 38,360 today (a decline of 6%). Also, we have gone from a 4+ year supply of homes to a 2 year supply of homes. These are all solid indications that we are approaching the bottom of the housing crisis.
Unfortunately the decline of inventory is not due to increased sales. The decline is because home owners are taking their homes off the market ... 26,641 listings have expired this year.
Additionally, the foreclosure rate continues to skyrocket ... 25% of all properties for sale in South Florida are either bank owned or in pre-foreclosure. The bank owned properties will continue to dominate pricing for 2 more years ... some segments locally have seen a 26 -- 29% drop THIS YEAR.
If you need to sell your home or know of someone that needs to sell their home, please call me immediately. I and my team have set lofty goals this year and we need YOUR help.
If you, or anyone you know, has ever thought about investing in real estate, this is the time!!!!
Regardless of when the market turns around, in 10 years you will look like a genius.
Oceanfront home? Investment Properties? Condos on the water? This is the time to buy.
WE can help you or recommend a top agent anywhere in the country.
Nicholas Goglucci, PA., CRS
Certified Residential Specialist
Certified Luxury Home Marketing Specialist
e-Pro Agent
Re/Max In Motion
Direct: 954-650-7800
Fax: 954-903-4348
www.GoglucciTeam.com
The National Association of Realtors has agreed to change its policies on Internet home-sale listings to settle a long legal battle with federal regulators who have accused the group of anti-competitive behavior that harms consumers.
The settlement, which awaits court approval, would resolve a 2005 Justice Department lawsuit that accused the association of undermining newer, lower-priced rivals by hampering their ability to post home-sale listings online. The Realtors association, which did not admit liability or wrongdoing and faces no fines, agreed not to treat Internet-based brokerages differently than traditional ones.
says the Washington Post May 28, 2008
It's a win for consumers because it's going to eliminate impediments to competition caused by the policies [the Realtors group] had in place, which we were ready to prove would have locked in an outmoded way of doing business," said Deborah A. Garza, deputy assistant attorney general in the Justice Department's antitrust division.
Mike Cowie, an antitrust lawyer at the firm Howrey who was not involved in the case, said the settlement probably will not force commissions down immediately, "but it should contribute to downward price pressures on commissions."
Really, how many listings are on the MLS in any one community? It is mind blowing to conceive the amount of condos and single family homes currently on the market.
The Department of Justice seems convinced that the settlement between the National Association of Realtors would help consumers sell their homes quicker and with a savings of commissions.
Consumers know better than that. If it were that easy just to put a property on the MLS and sell that property without the expertise and marketing ability of a listing agent, then strike one up for our Juctice Department.
Maybe the Justice Department should sell real estate now. It seems they know real estate better than the National Association of Realtors.
Frankly, real estate as we know it has change, not for the consumer. Real estate has now understood the need for competent real estate brokerages and listing agents who know marketing like never before.
Realtors are now needed more than ever because the need for consumers to sell the property has never been greater.
Never before in the history of the MLS has more listings been available and listings staying on the market is at an all time high.
Consumers now understand the need for an expert who reall y does sell real estate.
Call your local expert, you will be delighted to know that more sales in real estate have been through Realtors and not through For Sale By Owners.
If you want to sell your property for the highest price and in the least amount of time, with the least amount of hassle call a realtor who is experienced in your community.
For expert advice and expert service please call Nicholas Goglucci, PA. 954-650-7800
Nicholas Goglucci,PA.
Re/Max In Motion
954-650-7800
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