Forget about the past. It’s over and done with and no matter how much rumination you do about it, it won’t change the present.  This is the here and now.

OK, so let me take a step backward for a moment.  Let’s not totally forget about the past, just the learn and remember the lessons that it has taught us.  Now move forward!

We will most likely not see a real estate market like we’ve dealt with for the past 7 years.  With that said, real estate is and always has been cyclical.  There is an 18-year cycle to real estate, with the exception of the WWII time period.

Every depression is preceded by a boom of which real estate dominates.

So, of course, the question is when will this end?  When will housing values begin to increase?  A crystal ball is a wonderful item, but since the one I have doesn’t appear to work well….

In a perfect world…well this probably wouldn’t have happened.  What I’m trying to say is this.  There are many factors that will contribute to the when and where.  Right now with the price of oil, and therefore, gasoline being so high is a major contributing factor.  That will contribute to the lengthening of this recessionary cycle as well as some major global events.

But history indicates that a balanced market is on the horizon. We are already seeing some improvements, albeit not very dramatic or maybe even permanent.  But they are steps in the right direction.

OK, so enough doom and gloom.  The fact is that everything is relative.  Homes bought and sold in today’s market are equivalent.

Mortgage rates are still quite low.  We will not, or hopefully shouldn’t, see some of the mortgage products that were out there where we could purchase property with basically no documentation.  Unfortunately, we appear to have very short memories, so….time will tell.

Now on the bright side, unemployment is down and tourism, or at least the hotel occupancy rate, is up having hit a 3-year high.  These are some key factors in the Greater Orlando area which has a tourist economy.

The facts are that the month over month figures show that the number of sales are up as are the average and median sales prices.  Also, the inventory has been reducing and in greater numbers as each month passes.  The unfortunate item is that foreclosures and short sales still dominate the market, but this too shall change as well as we progress.

And that’s what it all comes down to – Progress – a movement toward a goal.

As always…Marc It Sold!…and have a great day!!

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Amendment 4 or the misnomer as it was known by, Hometown Democracy, if passed would have Floridians vote on every proposed change to the comprehensive plans for each city and county. Just the fact of the voting alone and the cost of such is major onus. To give you an idea of what this might entail, in the City of Orlando, there are approximately 500 changes in 2009.

A plan very similar to Amendment 4 was tried in St. Petersburg to devastating effects including continued litigation that is costing the taxpayers plenty. Even the former mayor stated that “_it resulted in confusion for the voters and a lot of extra costs_.”

I won’t deny that the premise of giving the power to the people is well intentioned, but this is why we elect our officials. Besides, Amendment 4 is poorly written in that it does not address the issues of hospitals, schools, fire & police stations as these would also have to be voted upon, delaying construction until approved at the next election.

This is in addition to the fact that Amendment 4 would cost jobs, raise taxes and further hurt Florida’s economy.

Floridians for Responsible Policy opposes Amendment 4 and feels that it will empower special interests.

Vote No on 4 is being championed by the Citizens for Lower Taxes and a Stronger Economy, Inc.

For information on Orlando real estate and Orlando homes for sale in addition to Orlando relocation contact Marc Grossman, your Greater Orlando Area Realtor @ 407-463-1034.  Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.

To learn more about Marc and the services he has to offer, visit his website.

Marc Grossman, GRI  -  http://www.OrlandoHomes-4u.com/ -  407-463-1034

You can read Marc’s other blogs Real Estate Morsels, Real Estate Off The Leash & Real Estate Cracker

Marc donates 10% of his net proceeds to Hospice of the Comforter.

Marc It Sold!

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The new bill extends the deadline until April 30, 2010 where the homebuyer will have to have a written and binding contract to close no later than July 1, 2010.

The First-time Buyer Credit stays the same in that the buyer may not have had an interest in a principal residence for 3 years prior to the purchase. The amount will also remain at $8000.

The new bill is expanded to also cover Existing Homeowners, who must have used the home sold as a principal residence for 5 consecutive years out of the previous 8 years. The amount that they would receive will be only $6500, yet this is $6500 more than has been the case.

The income limits have risen to $125K for a single person & $225K for a married couple. These are up from $75K and $150K, respectively.

There previous was no cost limit for the purchase price of the home, but this will now be limited to a $800K home.

There is also an Anti-fraud Rule that was attached to the bill and rightly so. Now the purchaser will have to attach documentation to their tax return.

This is very good news & well needed for the real estate recovery as well as that of the economy.

Till next time…Marc It Sold!

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According to a city official that I spoke with he stated that we should not pay more since property values have gone down in the past year. This may be so in some instances, but not all.

With everything that has been going on for the past two years and the expected shortfalls, why did the city build an amphitheater? Was this a necessity, other than for more religious concerts? Seriously, have we forgotten about the separation of church and state?

There are 2 more meeting scheduled for September, the next being on the 16^th. If you have an issue with this rate hike (oh I’m sorry, rollback) than you need to have your voice heard. Anyway, just my .02.

Till next time…Marc It Sold!

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The Florida Homebuyer Opportunity Program’s (FLHOP) $8,000 tax credit is a bridge loan (short-term loan) administered by the state’s local State Housing Initiatives Partnership (SHIP) program.

Florida’s lawmakers are offering this loan to first-time homebuyers eligible for the federal government’s $8,000 tax credit utilizing current programs. But unfortunately, the rules for the SHIP and FLHOP programs differ and this is making for some issues. Because of such, some of the state’s local SHIP offices may not be ready come the first week of Aug., the likely kick off date due to collections.

The legislation does not stipulate an education requirement as there are currently with other SHIP programs, but the primary lender may require such.

In some instances these monies can be used as part of the required downpayment, but “those who access through any other FHA-approved lender must (as with any standard FHA loan), provide the 3.5% themselves.”

At this point, the best thing for you to do is to contact your local SHIP office.

Till next time….Marc It Sold!

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The following are the market sales statistics for Winter Park, Seminole and Orange Counties, Florida for May 2009.  Winter Park is made up of the zip codes of 32789 & 32792.  For purposes of this analysis we are only splitting the data according to single-family homes vs, condominiums, townhomes and villas.

A couple of definitions are in order. The median sales price means that 50% of the homes sold for more and 50% of the homes sold for less during a certain period of time – in other words, it’s the midpoint of sale prices. So basically what this means, is that the median sales price is showing market activity in that it’s specifically indicating which price range is more active.

The average sales price, as opposed to the median sales price, is the total volume of sold properties divided by the number of properties sold.

The sales to list price ratio is just that, you’re dividing the average sales price by the average list price and coming up with a percentage that tells you how much of the list price the average homes sold for.

There needs to be a disclaimer here.  These stats are only as good as telling us what it being purchased and happening at a certain period in time.  Also, it needs to be fully understood that not only is real estate local, but it is hyper-local.  What this means is that the trends that we hear about are overall.  Let’s put it this way, what’s happening in one neighborhood, may not be realized in the neighborhood next door.

Additionally, these are only monthly statistics and to get a better scope of what is happening, you need to look at a longer period of time. More high-end homes might be sold in one month as opposed to another. By looking at a longer period, you will get a better overall picture. It is all relative and this has to be understood when utilizing these stats.

Single-Family Homes

47 homes sold during the month of May.

The average sales price is $334,891 with 191 days on the market.

The median sales price is $197,000.

The sales to list price ratio is 93%.

The most expensive home sold for $2,137,500 in Osceola Shores after 528 days on the market.

The least expensive home sold for $40,000 in Windward Square after 582 days on the market.

The average sales price for the same period a year earlier was $564,626 with 140 days on the market and on 40 sales, an increase of 18%.

The month to month changes show an increase in the average sales price of 8% and a decrease in the median sales price of 9%. There was also an increase in sales volume of 18% with no change in the sales to list price ratio.

Condos, Townhomes & Villas

21 homes sold

The average sales price was $183,545 with 182 days on the market.

The median sales price was $156,000.

The sales to list price ratio is 96%.

The most expensive condo sold for $230,000 in Townhomes at Harper Place and was on the market 200 days.

The least expensive sold for $38,000 in Wrenwood Condo after 103 days on the market.

The average sales price a year earlier was $151,443 with 136 days on the market on 12 sales, an increase of 33%.

The month to month changes show a decrease in the average sales price of 46% and a decrease in the median sales price of 47%. These decreases are somewhat equivalent to the previous month’s increases. Yet, there was a decrease in sales volume of 24% with a 2% decrease in the sales to list price ratio.

For information on Winter Park and Seminole and Orange County real estate and Winter Park and Seminole and Orange County homes for sale in addition to Winter Park and Seminole and Orange County relocation contact Marc Grossman, your Winter Park and Seminole and Orange County Realtor @ 407-463-1034.  Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.

To learn more about Marc and the services he has to offer, visit his website.

Marc Grossman, GRI  -  http://www.OrlandoHomes-4u.com/ -  407-463-1034

You can read Marc’s other blogs Real Estate Morsels, Real Estate Off The Leash & Real Estate Cracker

Marc donates 10% of his net proceeds to Hospice of the Comforter.

Marc It Sold!

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This is surely a win-win situation for all. It will definitely help many of those who are limited in purchasing a home because of the lack of an adequate downpayment. Hopefully, this will also further spur on what I’m seeing as an improving economy and especially consumer confidence.

All of the details have not been worked out, but I would suggest that you contact your local housing authority as quickly as possible. Theoretically, this will help over 3000 first time homebuyers. Now to the federal guidelines for the First-Time Homebuyer Tax Credit:

• To qualify, the home must be your principal residence (therefore, neither vacation homes nor rental properties)

• purchased prior to December 9, 2009.

• To be considered a first-time homebuyer, you may not have owned a home for the three years prior to the date you closed on this home.

• The home must cost at least $80,000 to receive the full tax credit, otherwise the credit will be prorated to 10% of the purchase price.

• To qualify for the full tax credit, your Adjusted Gross Income (according to your 1040 Form Tax Return) must be below $75K for single individuals and $150K for married couples. Reduced amounts are available above those limits, but are phased out at $95K for singles & $170K for couples.

• There is only one restriction and that is that you can not sell the home for three years otherwise you will have to repay the tax credit.

Happy House Hunting!!

Till next time….Marc It Sold!

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The following are the market sales statistics for Longwood, Seminole County, Florida for February 2009.  Longwood is made up of the zip codes of 32779 & 32750.  For purposes of this analysis we are only splitting the data according to single-family homes vs, condominiums, townhomes and villas.

A couple of definitions are in order. The median sales price means that 50% of the homes sold for more and 50% of the homes sold for less during a certain period of time – in other words, it’s the midpoint of sale prices. So basically what this means, is that the median sales price is showing market activity in that it’s specifically indicating which price range is more active.

The average sales price, as opposed to the median sales price, is the total volume of sold properties divided by the number of properties sold.

The sales to list price ratio is just that, you’re dividing the average sales price by the average list price and coming up with a percentage that tells you how much of the list price the average homes sold for.

There needs to be a disclaimer here.  These stats are only as good as telling us what it being purchased and happening at a certain period in time.  Also, it needs to be fully understood that not only is real estate local, but it is hyper-local.  What this means is that the trends that we hear about are overall.  Let’s put it this way, what’s happening in one neighborhood, may not be realized in the neighborhood next door.

Additionally, these are only monthly statistics and to get a better scope of what is happening, you need to look at a longer period of time. More high-end homes might be sold in one month as opposed to another. By looking at a longer period, you will get a better overall picture. It is all relative and this has to be understood when utilizing these stats.

Single-Family Homes

27 homes sold during the month of February.

The average sales price is $334,601 with 157 days on the market.

The median sales price is $247,200.

The sales to list price ratio is 93%.

The most expensive home sold for $1.315M in Alaqua Lakes and was on the market 114 days..

The least expensive home sold for $110,000 in Longdale after 149 days on the market.

The average sales price for the same period a year earlier was $324,011 with 164 days on the market and a sales to list price ratio of 94% on 22 sales, a decrease of 23%.

The month to month changes show an increase in the average sales price of 22% and an increase in the median sales price of 9.3%. There was an increase in sales volume of 80% with a 4% increase in the sales to list price ratio. Except for 2 homes that sold for over $1M, the rest sold for $550K and under.

Condos, Townhomes & Villas

4 homes sold

The average sales price is $95,750 with 165 days on the market.

The median sales price is $61,250.

The sales to list price ratio is 97%.

The more expensive townhome sold for $212,000 in The Springs and was on the market 323 days.

The less expensive sold for $48,500 in Clubside at Sabal Point a Condominium after 21 days on the market.

The average sales price a year earlier was $264,000 with 359 days on the market and a sales to list price ratio of 94% on 2 sales, an increase of 200%.

The month to month changes show a decrease in the average sales price of 41%. There was an increase in sales volume of 200% with a 7% increase in the sales to list price ratio.

For information on Longwood and Seminole County real estate and Longwood and Seminole County homes for sale in addition to Longwood and Seminole County relocation contact Marc Grossman, your Longwood and Seminole County Realtor @ 407-463-1034.  Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.

To learn more about Marc and the services he has to offer, visit his website.

Marc Grossman, GRI  -  http://www.OrlandoHomes-4u.com/ -  407-463-1034

You can read Marc’s other blogs Real Estate Morsels, Real Estate Off The Leash & Real Estate Cracker

Marc donates 10% of his net proceeds to Hospice of the Comforter.

Marc It Sold!

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With that said, I’m quite disturbed with the notion of our ending a 27 year moratorium on offshore drilling that was actually signed by Pres. Bush’s father and he is currently asking for congress to end. But before we go on with this part of the tale, let’s look at the implications of Offshore Drilling.

Gas prices are high and it’s affecting all of us. Unfortunately, those with less income are affected the most. But the fact of the matter is that gas prices are high and will remain so for a very long time. That’s just a simple fact. Even with Saudi Arabia stepping up their production, it will have little effect on the price of crude oil in the overall scheme of things.

For arguments sake, let’s say that we allow offshore drilling. Actually, let’s stop for one second for a further explanation, we are not just talking about offshore drilling, but that of also drilling in the wilderness. OK, with that said, if we were to drill, it would take 7-10 years before we’d see any results. On top of that the oil that can be uncovered will most likely not have much effect on prices anyway.

Now granted, we do have a major stockpile of crude. So much so, that at today’s consumption it would last us 2½ years. Maybe the government should consider tapping into that as opposed to our environment? Just a thought! I’m not suggesting depleting all of the reserves, but…

The purpose here is not to sway anyone from one party to another. It is not intended to be a political debate. It seems the two prospective presidential candidates are both on opposite sides of this issue. Sen. McCain is following in the President’s footsteps.

What really bugs the bejesus (see I said a nicer word that I really would have liked to say) out of me, is that I hear the Governor of Florida, Charlie Crist, doing a complete turnaround in an apparent political pandering to Sen. McCain because he’s looking for a place on his ticket or in his cabinet. Oh yes another, our illustrious Senator, Mel Martinez, has also supposedly changed his mind and is backing the removal of this moratorium. But we won’t go into his background and his abysmal stay at HUD.

It appears that a good part of this election will be putting the fear in people, just as we’ve seen in previous ones where they utilized so-called ‘terrorism.’ We know that a good part of that turned out to be a bunch of bunk, but by then it was too late. I hope again that history won’t be repeating itself as it so often has.

In his Gettysburg Address, President Lincoln stated that we will have a “government of the people, by the people, for the people.” The sad thing is that in this day and age we need to change the word ‘people’ to ‘big business’ and the saying will have a more accurate meaning. It doesn’t matter how this drilling will affect the general population. That’s of little or no consequence. Is it any surprise that we’re consistently widening the wealth disparity gap in this country?

Enough, let’s get back to the original premise here. The possible harm and destruction to the environment is too great a price to pay. We need to seek other alternatives and learn to wean ourselves off of petroleum based products. I am more concerned about global warming and the impact of fossil fuel on our lives and environment.

I have great concern that a major mistake will be made by opening up our shorelines and wilderness to the drilling for oil. The impact to our environment and lives can be more costly than the price of fuel itself. This is not something that should be taken lightly. Granted, neither should what we are paying for the price of fuel, but this type of consumption has been the American Way. Seriously, did we, as an overall society, learn a lesson from the embargos of the 70’s? Obviously not!

We need to wake up, if we haven’t already. The ‘Me’ society is over with. This idea of conspicuous consumption needs to be reigned in. What kind of legacy are we going to leave to our children? Yes, we as a society have progressed so very much, but at what cost? Enough already, or there won’t be any roses to smell!

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The rewards that we acquire are bringing all of these individual facets together successfully for all of those involved. To me that is the rush that I get out of my vocation.

Are there some aspects of real estate sales that I am not wholly in love with – absolutely. Are there some tasks that I’d rather not do, or at least to a lesser extent than others – for sure. But as with anything else it is the total package.

It’s what we bring to the business of real estate that will determine where we are going and how we will get there. For some, it may just happen. But there isn’t enough longevity to that – waiting for things to just happen. It’s what we bring in and of ourselves that will determine our longevity and profitability in this business.

OK, so I’ve written four paragraphs here and while most of this is just philosophical, I’ve not given you anything solid to grasp. A lot of things are intrinsic and not tangible. You can’t touch someone’s attitude, yet you may be able to feel it, be it their aura, etc.

It’s like the old story, and I just found out that Abraham Lincoln stated this, but “you can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time.” It’s just not going to happen, no matter how good of an actor that you think you are.

We’ve talked so much about developing a business plan and many do not do this even in their heads. I think that part of that problem, procrastination, whatever, is that too many feel this to be a daunting task. It doesn’t have to be. Yes, it should hold several components, but it doesn’t necessarily have to be a dollars and figures spreadsheet. Some do like taking it to that extent. Some of us are the engineers.

Let me just state that there is no right or wrong, I am only espousing my feelings about such.

I think we need to be introspective. Some like doing this more often than others. Some like to do this on an ongoing basis, while others may only do this occasionally. You have to know where you’ve been to possibly understand where you are going. You have to have learned the lessons of the past, otherwise all is for naught. You will only be repeating the same things over and over and unfortunately in many instances be expecting different returns. Chances of that happening are basically slim to nil. You’d only be kidding yourself and unfortunately this is done only too often by many.

The energies that you exude and surround yourself with will either make or break you. Some will unfortunately think that I’m just blowing this out my rear. But think of it, what do you want others to see and feel? What do you want to evince?

We talk and hear people say about all the negativities in the world and our businesses at present. And if you feel this way, then that is what people will see coming from you. How about all of the positives? There are pros and cons with almost everything. It is how you wish to look at it. Is the so to speak glass half full or half empty? These are your choices. Many will say that the industry is in turmoil and will be for years, our society is in turmoil. But homes are being sold every day. Where do you fit in with this picture? Where do you want to fit in with this picture?

It all comes down to choices and which road we wish to take. I guess that I’ve used several adages here, but they do show a point hopefully.

We all have issues. Sometimes we all have doubts. But it’s up to you if you wish to befall into the crevice. Do you have a plan or something to utilize when you are feeling down or unsure? Or do you just fall into it and let it envelope you and just wait for it to pass?

It comes down to do you wish to take action or react to something. You will definitely get different results by both of these. An action is something that thought has been given to, whereas a reaction is something that is automatic.

Maybe I should retitle this post to read “A Philosophical Discourse – Where do you stand?” I enjoy writing and sometimes it helps me. I enjoy sharing my feelings and personal insights. But as I previously stated there is no wrong or right, it is just a matter of what works for YOU!

Till next time - Marc It Sold!

For information on Central Florida and Orlando real estate and Central Florida and Orlando homes for sale in addition to Central Florida and Orlando relocation contact Marc Grossman, your Central Florida Realtor @ 407-463-1034. Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.

To learn more about Marc and the services he has to offer, visit his profile & website.

Marc Grossman, GRI – http://www.OrlandoHomes-4u.com/ – 407-463-1034

Marc donates 10% of his net proceeds to Hospice of the Comforter.

Marc It Sold!

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