I discovered this video gem and couldn't help but share it. If only I knew about this gentleman during the run-up.
Essentially, Peter Schiff was seeing into the future as he did the whirlwind of financial talk-shows in 2006 and 2007. Not only was he right, he was EXACTLY RIGHT!
What's so comical are the "EXPERTS" who predicted 10% real estate gains, picked Merrill Lynch and Bear Stearns as best-buy stocks, and prophesied expanded wealth in the financial sectors.
http://www.liveleak.com/view?i=b0a_1232747931
So, in the future, listen to Peter Schiff!
Saturday, January 24, 2009
Wednesday, January 14, 2009
Despite the tumultuous end of the year, the real estate market in the Bay area finished slightly stronger than anticipated. Home sales ticked up and supply decreased slightly, which is the right formula for stabilization. Condos are still sluggish, with relatively undiminished supply and flat demand.
What is amazing is that Beach homes through out Pinellas County that sold in December closed at 70% of their original list price. That’s a full 1/3 discount. Other property types in and around Pinellas that sold in December averaged 82% - 85% of their original listing prices.
Distressed properties are here to stay and make up appr 1/3 of our sales. 2009 is a peak year for “Pay-Option ARMs” to reset and will cause a secondary wave of foreclosures as owners’ payments double, triple, and quadruple when the loans “re-cast” themselves.
If you absolutely need to sell, do yourself a favor and set your price AGGRESSIVELY. No matter how nice your property is, it is hard to compete with properties being sold at 10% - 25% discounts unless you are VALUE-priced. Below is a graph to showing the AVG PRICE of available vs sold homes in Tampa Bay from OCT 07 – DEC 08…on average, the SOLD PRICE has decreased appr. $5700 PER MONTH!!! Essentially, you are paying “the market” $6000 a month to sell your property.
What is amazing is that Beach homes through out Pinellas County that sold in December closed at 70% of their original list price. That’s a full 1/3 discount. Other property types in and around Pinellas that sold in December averaged 82% - 85% of their original listing prices.
Distressed properties are here to stay and make up appr 1/3 of our sales. 2009 is a peak year for “Pay-Option ARMs” to reset and will cause a secondary wave of foreclosures as owners’ payments double, triple, and quadruple when the loans “re-cast” themselves.
If you absolutely need to sell, do yourself a favor and set your price AGGRESSIVELY. No matter how nice your property is, it is hard to compete with properties being sold at 10% - 25% discounts unless you are VALUE-priced. Below is a graph to showing the AVG PRICE of available vs sold homes in Tampa Bay from OCT 07 – DEC 08…on average, the SOLD PRICE has decreased appr. $5700 PER MONTH!!! Essentially, you are paying “the market” $6000 a month to sell your property.
Monday, January 12, 2009
COLDWELL BANKER PRESENTS:
"FIRST-TIME HOMEBUYER SEMINAR"
TUESDAY JANUARY 27, 2009 at 630p
1988 Gulf-to-Bay, Clearwater, FL (across from Clearwater HS)
Are you are a first-time homebuyer looking to make your first purchase?
Are you a current renter wondering if now is the time to buy?
Are you new to the area and trying to get your bearings in our market?
If you have answered YES to any of the questions above, then you are cordially invited to attend this INFORMATION-PACKED, 100% hassle-free, 100% no-cost Homebuying seminar which will cover homebuying from A-Z! If you don't know the answers to the following questions, I would highly recommend you attend this seminar and EDUCATE YOURSELF!
1) The maximum FHA loan amount is ____ %?
2) Seller's can contribute ____ % of the purchase price towards Buyer's closing costs and prepaid items?
3) What is the only entity offering 100% mortgage loans?
4) The gov't recently approved grants in the amount of $______ for first-time homebuyers.
5) Mortgage rates, as of last week, were the lowest since 19__, when rate trends were first reported on a weekly basis?
Email,call, or text me and I will save you a seat!
"FIRST-TIME HOMEBUYER SEMINAR"
TUESDAY JANUARY 27, 2009 at 630p
1988 Gulf-to-Bay, Clearwater, FL (across from Clearwater HS)
Are you are a first-time homebuyer looking to make your first purchase?
Are you a current renter wondering if now is the time to buy?
Are you new to the area and trying to get your bearings in our market?
If you have answered YES to any of the questions above, then you are cordially invited to attend this INFORMATION-PACKED, 100% hassle-free, 100% no-cost Homebuying seminar which will cover homebuying from A-Z! If you don't know the answers to the following questions, I would highly recommend you attend this seminar and EDUCATE YOURSELF!
1) The maximum FHA loan amount is ____ %?
2) Seller's can contribute ____ % of the purchase price towards Buyer's closing costs and prepaid items?
3) What is the only entity offering 100% mortgage loans?
4) The gov't recently approved grants in the amount of $______ for first-time homebuyers.
5) Mortgage rates, as of last week, were the lowest since 19__, when rate trends were first reported on a weekly basis?
Email,call, or text me and I will save you a seat!
Monday, January 05, 2009
Homeowners, it's time to take a hard look at what you are spending on utilities! Want to lower your costs and put more money in your pocket??? Here are a few ideas I have incorporated to make my home more energy-efficient (short of adding solar-panels).
1) HOME ENERGY AUDIT. Call Progress Energy RIGHT NOW to schedule your free home energy audit. It costs you NOTHING and take about 1 - 2 hours. At the conclusion, you'll get a report and a rebate for $$$ off new insulation.
2) INSULATION. If your home was built prior to the late 90's, chances are you have R-19 insulation OR LESS!! For less than a couple hundred dollars, you can get R-30 insulation blown in and then use the Progress Energy rebate to reduce that amount. Then, take the allowable deduction on your federal taxes! Just 2-3 months of savings on your power bill will pay for the cost of the insulation and then you're MAKING money!
3) Have your A/C system serviced. You wouldn't run your car without servicing it at some point during the year - why do that to your A/C. Have a pro check the pressures, measure the refrigerant level, and make sure your condensate line is clear of obstructions. You'll extend the life of the system.
4) Drain your water heater. Bet you didn't realize you could do that. If you live in Pinellas, chances are you will have sediment buildup in your water heater. There is a hose bib on the bottom with a valve. Drain the water until it runs clear at least once per year!
5) Turn down the temp on your water heater. Some water heaters are factory-set at 130+ degrees. Turn it down to 120 and you won't realize the difference, except in your bill. Also, install a timer to automatically turn it on and off during hi-use times. Why run a water heater 24 hours a day when you just need hot water for a couple of hours? You'll also extend the life of the water heater.
6) Turn up your refrigerator. The cool part should be appr 37 degrees and the freezer at 0 degrees.
7) Air leaks. Buy caulk and a caulking gun and check all your windows. Chances are you'll see some leaks. Also works well for keeping moisture out of the house.
8) Roof. If you're re-roofing, choose a lighter color OR even better, choose a metal roof. They reflect heat and have a longer life.
1) HOME ENERGY AUDIT. Call Progress Energy RIGHT NOW to schedule your free home energy audit. It costs you NOTHING and take about 1 - 2 hours. At the conclusion, you'll get a report and a rebate for $$$ off new insulation.
2) INSULATION. If your home was built prior to the late 90's, chances are you have R-19 insulation OR LESS!! For less than a couple hundred dollars, you can get R-30 insulation blown in and then use the Progress Energy rebate to reduce that amount. Then, take the allowable deduction on your federal taxes! Just 2-3 months of savings on your power bill will pay for the cost of the insulation and then you're MAKING money!
3) Have your A/C system serviced. You wouldn't run your car without servicing it at some point during the year - why do that to your A/C. Have a pro check the pressures, measure the refrigerant level, and make sure your condensate line is clear of obstructions. You'll extend the life of the system.
4) Drain your water heater. Bet you didn't realize you could do that. If you live in Pinellas, chances are you will have sediment buildup in your water heater. There is a hose bib on the bottom with a valve. Drain the water until it runs clear at least once per year!
5) Turn down the temp on your water heater. Some water heaters are factory-set at 130+ degrees. Turn it down to 120 and you won't realize the difference, except in your bill. Also, install a timer to automatically turn it on and off during hi-use times. Why run a water heater 24 hours a day when you just need hot water for a couple of hours? You'll also extend the life of the water heater.
6) Turn up your refrigerator. The cool part should be appr 37 degrees and the freezer at 0 degrees.
7) Air leaks. Buy caulk and a caulking gun and check all your windows. Chances are you'll see some leaks. Also works well for keeping moisture out of the house.
8) Roof. If you're re-roofing, choose a lighter color OR even better, choose a metal roof. They reflect heat and have a longer life.
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