As the Market Turns

I often receive questions from friends, family, acquaintances, dogs, cats (not really the last two) about the real estate market.  Many have been listening to the news that Real Estate has "tanked", the market is bad, every other house is in foreclosure. . .

It's important to understand that the news media wants to make money, and the only money they can make comes from "bad news", frightening reports, and vitrial seasoned with garbage to scare the average person to make them continue to watch the news.  (you know ratings and stuff like that). 

Real Estate is actually not in bad shape.  Yes, there were some banks and mortgage companies that loaned money in a "predatory" fashion meaning that they gave loans to people who could neither afford, nor maintain payments on a home.  These banks were able to sell their "bad" loans to other banks so they could borrow more money to make more "bad" loans. 

To make things worse, appraisers hired by these banks were incited to bring up home values to cover cash closings that customers couldn't afford either.  The result, homes valued way over the price they should have held.

Currently, the real estate market has adjusted in many local markets - and understanding that real estate is local is critical to both buyers and sellers.  Our local market has a great amount of inventory, but we have less than we've had in the past.  Homes are moving, sales are happening and when the market does what it always does (real estate always increases in value in the long run), many people will have missed an opportunity to buy in what is known as a "buyers market". 

Flagler County, Florida has a great selection of properties in many great areas for many tastes.  Saying "Now is the time to Buy" is an understatement.  With the stock market in trouble and interest rates for savings at an all time low, owning property is a great way to get a return on your investment capital.  Why not talk to your financial advisor and then give me a call for some great deals while they last!

Jolita