September 2015

There are 3 blog entries for September 2015.

 

 

 

What’s your home worth? Not as much as you think

This article from Florida Realtors, and again stresses the importance of a couple of things;  first, the importance of knowing the market, and doing a comparative market analysis.  Secondly, and this is a difficult issue for home sellers, is the need to emotionally detach yourself from your home.  Your home is worth what it is worth, based on the market and only the market!

FORT LAUDERDALE, Fla. – Sept. 29, 2015 – Some homes are sitting for sale longer in Broward and Palm Beach counties, and real estate agents blame the sellers.

With prices rising, more sellers seem unable to accept what their homes are really worth, agents say.

"There's a serious problem with sellers

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The real estate picture is improving nationwide.  Florida, a state which lead the nation in foreclosures and distressed properties is the most improved state in the nation.  In a city-by-city comparison, Orlando leads the nation in both a month-to-month and year-to-year comparison, and only one non-Florida city makes the top five list for either timeframe.

Florida metro comparisons

Orlando topped all city lists from Freddie Mac. Month-to-month, Orlando improved 2.6 percent, followed by Greenville, S.C. (+2.55%), Cape Coral (+2.51%), Tampa (+2.19%) and Jacksonville (+2.12%).

Year-to-year, Orlando improved 18.27 percent, followed by Cape Coral (+17.75%), Tampa (+15.99%), Palm Bay (+14.98%) and North Port (+14.77%).

"Florida

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1.) Housing is typically the one leveraged investment available.

“Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the money. As a result, homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a hefty 20 percent down payment results in a leverage factor of five so that every percentage point rise in the value of the home is a 5 percent return on their equity. With many buyers putting 10 percent or less down, their leverage factor is 10 or more.”

2.) You're paying for housing whether you own or rent.

“Homeowners pay debt service to pay down their own principal while households that rent pay down

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