Signs of Real Estate Market Bottom

The big question everyone is asking these days is "When will the bottom of the real estate market occur?" The bottom of the market may be closer than you might think.

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"Get Back in the Saddle, Get Back in the Game"

Grant Simon, nationally known motivational speaker and owner of First Florida Mortgage in Orlando was guest speaker at the monthly career building session of Amerivest Realty of Central Florida in Winter Park. Mr. Simon’s one hour, humor based approach to building your business, talked about today’s exciting opportunity for buyers to purchase a home and for agents to be aware of those opportunities and take advantage of it while they last. Mr. Simon compares today’s buyer’s market to the day after “Black Monday” back in the 80’s when stock prices sharply fell on Monday, and how most investors back then failed to seize the opportunity to buy those low priced stocks on the days following. His comparison to today’s real estate buying opportunity is no different as long as buyers understand that real estate should be viewed as a long term investment and only a part of their overall investment portfolio. It should also be something the buyer can afford. Monthly payment should equal around ¼ of monthly gross, and home price should be around 3 years of pay.
Getting back in the saddle and back in the game is the approach agents should take to become the experts in their field by choosing a niche price point, knowing what is available in that price range, in the area they choose to market. This makes them the preferred experts for today’s serious buyer.
All indications show that the market in Central Florida has begun the turn around so agents who are serious about their Real Estate careers should be willing to
“Get Back in the Saddle, Get Back in the Game”.

The Market Seems to be Making the Right Moves!

The Orlando Real Estate market is in the beginning stages of its long awaited turn for the better so says the ORRA (Orlando Regional Realtor Association). In their latest issue of ORRA News that say. “Orlando’s housing marketing upheld its annual tradition in February with a month-to-month increase that heralds the start of the spring selling season. The 922 sales that took place in February 2008 are a 13.4 percent increase over January 2008’s 813 sales; however, sales in February 2008 are down by 40.17 percent when compared to February 2007.” Although this is only a slight rise over the previous month, local economists look at this as a positive trend for the future. The two main reasons for these positive numbers are the available homes and affordable interest rates. Another key factor that will play into future sales is Freddie Mac’s decision to raise limits on FHA loans in the Central Florida region to $353,750 from the previous max of $257,450. This adds almost 5,000 more homes to the possible list of FHA buyers.
Mark Eller Broker/Owner announces other news at Amerivest Realty of Central Florida:
Mr. Bruce Tannenbaum has moved into his new position of Director of Operations for the company.
A couple of new faces around Amerivest Realty of Central Florida these days include:
Debra Fisher formerly with Keller Williams
Dyana Dumar formerly with Re-Max
Big News from our friends at Amerivest Realty, Naples: Mr. David Cole Amerivest Realty’s Director of Business Development was named NABOR (Naples Area Board of Realtors) agent of the year. David’s leadership within the real estate community for several years has earned him this most distinguished award. Congratulations David from all of us here in Central Florida.