What is a short sale?
by: Sroyal225

Reprint from Real Estate News & Advise

REALTOR.com Real Estate Trends for January 2012 (DATA)

As the New Year begins, key indicators suggest most of the housing market continues to be in a stabilization and recovery mode. Compared to a year ago, the total for-sale inventory is down by -23.2 % on the national level, declining in 145 of the 146 markets tracked by Realtor.com. The national median age of the inventory is down -4.8% compared to January 2011. While U.S. median list prices declined for the second month in a row, this decline appears to be largely seasonal; on a year-over-year basis, the U.S. median list price was also up 3.69% in January. Although several major markets—including Chicago, Atlanta, Detroit and Las Vegas—continue to be on a downward trend, a growing number of metropolitan areas appear to be recovering, with Florida leading the way. Recent employment gains and record-low interest rates provide additional positive signs that improvements will continue into 2012. However, the large overhang of pending foreclosure actions in states such as Florida, New Jersey and New York could easily reverse recent gains, putting the nascent recovery at risk in many areas.

National – According to real estate data released today by Realtor.com, the national inventory of for-sale single family homes, condominiums, townhouses and co-ops (SFH/CTHCOPS) declined -6.59% from December to January, and is now down -23.20% compared to a year ago. The median age of the inventory also declined on both an annual and monthly basis, and is now -4.80% below the levels observed in January 2011. However, while the median list price is up by 3.69% on an annual basis, it fell for the second month in a row, declining -1.32% between December and January. Although these declines are most likely seasonal in nature, trends in the next few months could determine the strength of the 2012 home buying season.

Local Market Variations – In the past year, a steadily increasing number of markets registered year-over-year increases in median list prices while fewer markets have experienced year-over-year list price declines. Florida markets, which were among the hardest hit at the beginning of the housing decline, continue to show recovery with large year-over-year inventory contractions and large year-over-year increases in median listing prices. However, a recent uptick in the for-sale inventories in these areas may signal that these markets are entering a new phase and that further improvements will be more muted. At the same time, median list prices in other markets that were once the epicenter of the housing boom—including Las Vegas and many parts of California—continue to lag behind the country as a whole. In addition, markets that never experienced the dramatic run-up in housing values that preceded the housing crisis—for example, Chicago and Detroit—have registered some of the largest declines in their median list prices on a year-over-year basis as the impact of a weak economy continues to take its toll.

Read more: REALTOR.com Real Estate Trends for January 2012 (DATA) | REALTOR.com® Blogs

Conditions are coming around

I just read an article in the WSJ about pricing is now cheaper than renting in 12 markets.  This is an important factor showing that the rental market has really tightened up.  On FLeming Island there were only 8 homes for rent 3-4 bedrooms in the $900 - $1100 price range and 4 of them were condo's.  I have attached the article, let m eknow what you think?

online.wsj.com

What about Condos

Condominiums are either the best piece of real estate in the world or the worst, it depends on the market.  Well they are getting just about right now for investment.  I have attached a list of some in Orange Park and Fleming Island.  There are a few in Orange Park that are selling in the $20,000's  and in that complex some rental rates are from $500 to $650.  You have to remember I do not know the condition and the condo fee is $177 but this is an investment that will cash flow now and as the market turns there is a possibility of increased values.

http://pub.realtyweb.net/link.html?udysi9z4owt,14,1

ZILLOW and TRULIA

I thought everyone knew about Zillow or Trulia and had the App!  But I have found out that is not the case.  You should know about these 2 websites and I-phone and I-pad apps even if you are not looking to buy real estate.  Basically they collect housing market data from just about every market in the US.  If you want to see what is selling in Hollywood California just type in the zip code 90210 and it will not only bring up what is on the market but will have prices, pictures and descriptions.  You can look for second homes in the mountains, on the beach or the upper East side of Manhattan.  When you have a little fun time, check out the 10,170 sf home at 1000 Elden Way in Beverly Hills for 12,950,000.

If you find yourself in a parking lot on Fleming Island or a mall in Ft Myers and have the App, you can search the homes and prices of the surrounding area.  It is a great app and website and very easy to use.  If you want to stretch even further you can download or go to Loopnet.com and do just about the same thing with commercial property.

Let me know some of the fun and unusual ones you find.

It's Halloween

Sometimes there are just some fun sites out there and the following link is to the top ten haunted houses on the market in the US.
Happy Halloween: The Top 10 Haunted Homes for Sale

I am also including a link to one of the nicest and most unique riverfront lots now available.  It is over 200 feet on the water and already landscaped.  We just reduced the price $100,000, if you know someone who is looking you might pass the link on it is truly beautiful.

http://pub.realtyweb.net/link.html?ud9961jf6sj,14,1

Have a happy and safe Halloween!

Landscaping - Really?

Great, Friday afternoon and you want to talk about landscaping?   Tomorrow is Florida - Georgia or for my North of the border friends Georgia - Florida and I know you do not want to talk about yardwork but if you are thinking about selling your home now or even next year, you need to make sure that FIRST impression is a good one.  As far as a return on the $$ invested this may be the highest.  A few flowers well placed and the yard cut and edged will make all the difference in the world.  If it gets out of hand you can expect low offers or buyers wont even stop.  I've attached a link about this and a few other tips for selling this fall!

OK so get up early, get a little exercise in the yard and then enjoy the game!

3 Tips to Sell Your Home This Fall