So when your in a train tunnel and you see some light up ahead two things go through your mind " is that daylight or the light from the train" Well as it relates to real estate, according to recent Floridarealtors.org news it looks like what we are seeing is daylight.
From realtor news " ORLANDO, Fla. – Feb. 9, 2012 – Florida’s existing home and existing condo sales continued their positive trend in fourth quarter 2011, posting gains compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors®.
Existing home sales rose 7 percent in 4Q 2011 with a total of 42,038 homes changing hands statewide; during the same period the year before, a total of 39,355 homes sold, according to Florida Realtors. Statewide sales of existing condos in the fourth quarter rose 4 percent compared to the year-ago sales figure.
In the year-to-year quarterly comparison for existing condo sales, 18,558 units sold statewide in the fourth quarter compared to 17,922 units in 4Q 2010 for a 4 percent gain. The statewide existing-condo median sales price was $88,800 in the fourth quarter; a year earlier, it was $84,400 for a 5 percent increase."
WASHINGTON – Feb. 10, 2012 - Better profits are beginning to turn around at big real estate companies. Berkshire Hathaway, which owns Edina Realty, said its Home Services of America unit, which owns 22 regional real estate brokerages around the country, saw revenue rise 12 percent in the third quarter as profit doubled to $22 million. Realogy, the franchiser that owns Coldwell Banker and Century 21, also reported that third-quarter sales rose. Both said sales in the first half of the year were below 2010, and neither has released fourth-quarter results yet.
Even builders, who lost up to 90 percent of their stock market value from 2005 through last year, are feeling better. CEOs such as PulteGroup’s Richard Dugas said they expect to return to profitability this year. Attendance at the National Association of Home Builders’ annual trade show in Orlando, which Bernanke will address today, is up 10 percent this year, NAHB Chief Executive Officer Jerry Howard said."
Now I dont know what you think but IMO increased home sales, increase in prices, both real estate companies and builders are not only feeling better they are seeing improvements in their bottom lines, this is all definitely good news. News that should be celebrated because its seems we are finally turning the corner, finally seeing more positive real estate news then negative, and the positive news is getting more positive and the negative news less negative.
Add to this that Fannie Mae is allowing more online bids for homes they have in foreclosure, also many lenders are now opting to accept short sales benefiting owners over onerous foreclosures that hurt all parties more and then with the recent resolution to the robo signing foreclosure scandals we have an environment that definitely points to real, tangible improvements in the general condition of the real estate market.
Real estate is on the mend, sellers should embrace these changes and act accordingly as it relates to setting realistic pricing so that they can sell sooner rather then later so they can move on with their lives. Buyers have to understand the real deals are getting fewer and farther in between and those that are deals have multiple offers on them so, do not dawdle, know your market, know your price range, and be ready to strike fast because if you do not some one else will. Each time you let someone buy a home that had your interest you've missed an opportunity, and then to say I'll get the next one is just a way to justify your inability to decide, Yes or No. Letting an opportunity just slip away is a conscious decision to make no decision, to play it safe.
