Real Estate
Friday, October 1st, 2010
Someone once told me recently that ”a bank is a place that will lend you money, if you can prove that you don’t need it”.
Well, ain’t that the truth — getting a residential loan now-a-day is extremely difficult — only people with near perfect FICO scores with lots of cash down seem to qualify for loans. I don’t know why banks are worrying about making loans because they borrow from the Federal Reserve at 0.0 % and they are only paying depositors insulting interests — their loans are pure profit.
Banking has become only a one sided interest, theirs!
John Bourassa, Realtor® with RE/MAX Preferred servicing luxury homeowners in the Fort Lauderdale beach areas. Call my “Sell” phone (954) 529-5505
Tags: Broward County, Buyers and Sellers, Fort Lauderdale Luxury Homes and Condos, Fort Lauderdale Real Estate Market, International Buyers, International Real Estate, Real Estate, Southeast Florida Real Estate
Posted in Homes, Homes for Sale, Housing Market, International Buyers, Mortgage, Mortgages, Real Estate | No Comments »
Saturday, September 4th, 2010
In a “tug of war” game you need two opposite teams pulling at each end of a rope until the strongest side pulls down the entire opposite team.
Right now, Fort Lauderdale (or Southeast Florida) is witnessing a magnificent tug of war match between buyers and sellers. Both parties are pulling their end with equal force and nobody is falling down, anymore.
This is a great indication that we have reached the bottom of the real estate tumble. Prices of homes and condos have dropped significantly in the past four years down to those prices of 2002 and 2003 (depending on areas) and those sale prices have leveled off for quite a while, already. Sellers realize that they can’t let go any lower than the ground prices; that is what gives them the extra energy to pull harder of that rope.
Buyers, you know the roller coaster effetc: ater it reaches the bottom of the hill, it goes back up the next hill, again, and so on. The real estate roller coaster car is presently rifing the bottom of it’s highest hill. THAT’S WHY THIS IS THE BEST TIME TO BUY YOUR PIECE OF SUNSHINE IN FORT LAUDERDALE BECAUSE, SOON, THE CAR WILL START CLIMBING.
Tags: Fort Lauderdale Luxury Homes and Condos, International Buyers, Luxury homes and condominiums, Real Estate Agent, Southeast Florida Real Estate
Posted in Buy a House, Housing Market, International Buyers, Property Investment, Real Estate, Real Estate Agent, This and that. | No Comments »
Friday, September 3rd, 2010
If you don’t have that much space in your home or condo, then, watch this video of ingenious space-saver furniture. This is the answer.
John Bourassa, Realtor® with RE/MAX Preferred servicing Fort Lauderdale Beach. Call my “Sell” phone (954) 529-5505.
Tags: International Buyers, International Real Estate, Real Estate Agent, Southeast Florida Real Estate
Posted in Condos, Home Improvement, International Buyers, Real Estate, Real Estate Agent, This and that. | No Comments »
Wednesday, September 1st, 2010
It’s simple: It’s back to school for now but soon is Labor Day weekend – after that, buyers will start itching for buying properties while sellers will be more amicable to entertain offers within market value. Life will be good and everyone will be happy.
Posted in Real Estate | No Comments »
Monday, August 30th, 2010
A colleague of mine personally replied to my last blog post on this Inside Real Estate titled “Media Loves Drama”. His reply: “The reason home sales are down 27% is the government has imposed such strict new guidelines that fewer people can qualify for a mortgage these days…”
My response: I agree with you that, unfortunately, it is almost impossible NOW for people to get mortgages. But, the looseness and carelessness of being able to get mortgages in the late 90ies to 2007 is what put this nation and other large countries in the pickle they are in today – lenders granted shitloads of mortgages to people who didn’t qualify to even buy a bicycle on credit – and you know that.
Now, everyone feels sorry that the government intervened forcing lenders to go back to their original modi operandi and lending only to those who have a near perfect FICA score.
Let’s not forget that in the past 40 years, the American Credit Card Society of Lenders (in don’t know if there is such a recognized organization that really exists but I am naming it so for this essay) has brainwashed people with mass-media hypnosis for people to spoil themselves with the “get it now and pay for it later” propaganda thing…And retailers figured out how to sell their products on TV by making sure their goods are aired immediately before a Visa or Master Card commercial. Today, we are all addicted to “get it now” and we live way beyond our means.
I really don’t know the answer to the big picture but I think that making loans easier to get to the financially struggling class would only help selling real estate but I am afraid that it would not help the recovery of present and future mortgage delinquencies. Maybe a great part of the solution would be to rectify the credit card mayhem. Perhaps, the first step to an immediate correction to our pecuniary unbalance should be to open Betty Ford type clinics in all small, mid-size and major cities in the US and start a mass credit card detoxcication. But, the economical side-effect to that would be devastating to the other vital organ of our economy: continuous production.
Does anyone out there have the magical answer to straighten this mess? Please come forward… God are you there?
Tags: FOrt Lauderdale, Fort Lauderdale Real Estate Market, Southeast Florida Real Estate
Posted in Housing Market, Mortgage, Questions and Answers, Real Estate, Real Estate Agent, Townhomes | No Comments »
Saturday, August 28th, 2010
Yes, the media loves drama because tragic news sell newspapers. Last week the National Associaiton of Realtors® announced that July sales dropped down by 27.2%…
I think there are different ways to report facts:
- There is a huge crack on the wall but the house has a good foundation and structure. The house will be fine because the crack can easily fixed. There is nothing to worry about.
- There is a hige crack on the wall. This situation is horrible because it will inevitably expand to the foundation of the house and to the ceiling causing the fissure to spread widerer delivering unbearable stress to the roof rafters and eventually the roof will cave in and people in the house will die.
The media tends à la number 2 fashion.
OK, sales have been sparse this summer but that does not mean it’s real estate doomsday. Relax folks! Real estate will never come to a complete halt. Sales activity will pick up after the beginning of school. Considering the overall economy of the past twelve months, we’ve been having a very health sales and purchase activity this year. This summer doldrums is only part ot a natural sales cycle. IT WILL GET BETTER SOON!
If you want drama, watch soap operas! If you want accuracy, watch 60 Minutes or listen to the National Public Radio (NPR).
Tags: Fort Lauderdale Real Estate Market, International Real Estate, Luxury homes and condominiums, Real Estate, Southeast Florida Real Estate
Posted in Housing Market, Real Estate, Real Estate Agent | No Comments »
Wednesday, August 25th, 2010
The National Association of Realtors® (NAR) reported Monday that the July 2010 home sales (that includes houses, condos and townhouses) fell to 27.2 %. The media loves drama. Most reputalbe media had a field day with that NAR report by glooming their report with “This is the worse home sales decline in 15 years…. and probably caused by the termination of the stimulus package tax credit for first-time buyers at the end of April 2010″ making it sound like this is the end of the housing world.
OK. That’s reality. Get over it! This is not real estate doomsday. Here in Fort Lauderdale, Southeast Florida, yes the amount of property sales have slowed down some but there have been many, many sales in June and July. In fact, this month I am very busy working with buyers who are either making a local lateral move to larger homes or condos and snowbirds now preparing to buy something ready for the winter season.
Life may not be the best these days but life is gooood, nonetheless!
Tags: fort lauderdale real estate, International Buyers, International Real Estate, Luxury homes and condominiums, Real Estate, Southeast Florida Real Estate
Posted in Buy a House, First Time Home Buyers, Housing Market, International Buyers, Real Estate, Real Estate Agent | No Comments »
Tuesday, August 24th, 2010
If selling “for sale by owner” (commonly known as FSBO) is so easy, then, why did the Tampa Bay based FSBO dynosaur filed for bankruptcy on July 29, 2010? Sure, everyone likes to save money - paying a real estate professional broker’s fee (commission) is reprellant to sellers as it is to pay any other professional fees for services rendered (doctors, attorneys, designers, architects, etc.) but paying a professional fees has it’s advantages.
FSBO seller and buyers must realize this: “Caveat Venditor” (Seller Beware) and “Caveat Emptor” (Buyer Beware). Ther are thousands upon thousands of horror stories ever come out of do-it-yourself buying/selling properties. That’s why the FSBO approach is only taking about 10% of the real estate market share. Moreover, FSBOs are not FREE!!! Similar to Buy Owner, there are many other FSBO vendors who, for a substantial up-front fee, they will sell you a package that will guarantee a presence on local MLS and that is all. Sellers are totally on their own without any support or advise from their FSBO representants, none whatsoever. And, if a co-broker brings a bonafide buyer to the closing table, sellers have to pay at least 2.5% to 3% commission in addition to the already paid up-front contract fee. Sellers may save a few bucks but is it worth the plethora of aggravations all the way to closing?
Realtors®, on the other hand, prepare, research, work with directly with their customers, do all the legwork of showings or taking their buyers to properties but mainly, they represent their customers’ best interest throughout the entire listing to closing process. Realtors® are continuously educated, totally aware of everything related to and/or conditions affecting their neighborhood markets plus they know the laws affecting real estate (they are not attorneys). They work under reputable brokers offices and they are supervised by their immediate brokers and by their local, state and national Realtor® Associations. They inform and educate thier customers of the latest trends in the industry and they help protect their clients best interest.
Hiring a Realtor® is money well spent.
Tags: Fort Lauderdale Real Estate Market, International Buyers, International Real Estate, Real Estate, Southeast Florida Real Estate
Posted in Homes, Homes for Sale, Housing Market, International Buyers, Laws of Real Estate, Luxury Homes, MLS, Real Estate, Real Estate Agent | No Comments »
Monday, August 23rd, 2010
Do you remember when you were a child playing on the beach by the lake or on the ocean shore with your plastic pale and shovel trying to build a sand castle?
That was kid’s stuff. Now that you are an adult, confident, successful and financially secured, come down to Fort Lauderdale, FL and build the real thing. If you don’t have time to take on that project, I’ll help you find the land and the right contractor to materialize it for you; or, you can buy an already built dream castle or a luxurious condo to make an impressive statement from the fine and exclusive selection of superb residences on the beach or near it .
Call my “Sell” phone (954) 529-5505
John Bourassa, Realtor®
Tags: International Buyers, International Real Estate, Luxury homes and condominiums, Real Estate, Southeast Florida Real Estate
Posted in Buy a House, Condos, International Buyers, Luxury Homes, Mansions, Real Estate, Real Estate Agent | No Comments »
Saturday, August 21st, 2010
I must admit that real estate has dwindled down in South East Florida for the Summer and the media doesn’t seem to know what to make of the economic health of the Nation on this third quarter of 2010. It seems like everything has quieted down like we are in the eye of a storm.
Fear not ya’ll. Buyers and sellers are still on summer hiatus and soon will resume their activities. By the end of summer, things will get back to normal and there will be a surge of all sort of activities, including real estate.
Tags: International Buyers, International Real Estate, Luxury homes and condominiums, Real Estate, Southeast Florida Real Estate
Posted in Housing Market, International Buyers, Real Estate, Real Estate Agent | No Comments »
