In his own words

Lawrence Yun who is the chief economist for the National Association of Realtors made a great presentation at the FAR winter meetings. He described how we got there and how and when we might get out of it. If you have time, click on the link and listen for yourself. There is some good news after all!
http://floridarealtors.org/LegislativeCenter/Research/index.cfm

The December state of Real Estate

Florida's existing home sales rose 27 percent in December, making it the fourth consecutive month that sales activity demonstrated gains in the year-to-year comparison, according to FAR. Statewide sales of existing condos increased 12 percent last month; and December sales of both existing homes and condos were higher than November's statewide figures. Meanwhile, NAR reports that existing-home sales - all housing types - rose 6.5 percent in December compared to November's pace. Is this the turnaround we have been waiting for?

Alter Mortgages?

Most congressional Democrats support a proposal that would give bankruptcy judges the power to alter mortgage terms for primary residences, saying it may the quickest way to halt the housing market's collapse. But lenders and other groups are fighting the bill, saying it's bad public policy that could result in higher interest and bigger downpayments for new homebuyers.

A New Year... a New Venture

It certainly was a busy holiday season as far as my own personal career. I have switched Real Estate offices and I am now with Watson Realty Corp in Palm Coast. Here at Watson Realty, I have access to a lot more information and the company also has the biggest market share in Palm Coast as far as Palm Coast/Flagler Real Estate Listings as well as Palm Coast/Flagler Real Estate Sales. Since joining Watson Realty, I have now launched a new program. Soon to be in full swing it will be "Tenant Placement". Falling house prices and a slow market are forcing more homeowners to consider renting their current properties when it's time to buy a new home, so why not get involved in helping both the homeowner as well as the tenant? You can contact me for any additional information on how the program works. My new numbers are as follows: Direct line to my office is 386.246.9239, our toll free number is 800.922.4313 ext.2339. My cell phone and email address is still the same. Stay tuned for more information as it becomes available.

Economic Bailout

An effort by NAR to spur home sales through a mortgage-interest rate buydown appears to be gaining traction, according to reports in major news media like the Washington Post and The Wall Street Journal. "Treasury officials told the Realtors that the [buydown] plan could be a more effective way to help homeowners than focusing solely on borrowers struggling to meet their monthly payments," the Washington Post story says, referring to a November meeting between NAR and Treasury officials.
The interest rates have dropped to where it is very lucrative to purchase a home here in Palm Coast, FL. The prices in Palm Coast and Flagler County are stilll at an affordable rate.

Zillow.com suvey

America is in one of the worst housing crisis in history, yet 49% of U.S. homeowners believe their home's value has increased or stayed the same over the past year, according to Zillow's Q3 Homeowner Confidence Survey.
In reality, 74% percent of homes have lost value in the past 12 months, according to preliminary findings in Zillow's Q3 Real Estate Market Reports, which will be released Nov. 12.

Other findings from the survey:
Supporters of Republican presidential nominee John McCain have more confidence about their homes' values than supporters of Democratic nominee Barack Obama.

Fewer people expect to buy or sell a home in the near future:

Three percent plan to sell their home in the next six months, down from 5 percent last quarter.

Three percent plan to buy a home, down from 4 percent in the second quarter.

Is this the end of the tunnel for Palm Coast?

According to http://eppraisal.com/ Palm Coast is ranked 31st out of 188 Metropolitan Areas throughout the country with an 8% increase in the median price for the average home in the city.

Median price for homes in Palm Coast is $175,000.