Lenders Keeping Mortgage Rates From Going Lower?March 9, 2020Mortgage rates dropped to an all-time low last week as the benchmark 10-year U.S. Treasury note, which tends to influence the
Is Now The Right Time To Buy
Dated: June 17 2016
Hope every one has started their summer with a nice trip to the beach or a small weekend get away.
We are in a real time of crisis in the South Florida Real Estate Market...
NOT BECAUSE WE ARE IN A BUBBLE!
NOT BECAUSE THE MARKET IS GOING TO CRASH!
But because BUYERS!!! Are going nuts!! Sellers are going nuts!
Agents are going MAD!!!
There is no need in dragging along dead weight to the party folks.
Sure right now there is very limited inventory but that doesn't mean buy the next piece of crap that comes on the market. Sorry for CRAP!! But I have to say it how it is. Keep in mind. Regardless of the market..BUYERS!!!! BUYERS!!! WILL ALWAYS SET THE MARKET VALUE!! Why....because of demand...BUT Demand doesn't mean buy something because you are scared you won't find another property in the next few weeks or a year!!!
So WHY SETTLE!!! Buyers...PLEASE PLEASE PLEASE Listen up. There will be more inventory.. There will be other properties coming along.. There will be other foreclosures.... People are buying a house like it's going to be the last thing they will every do in their lives and guess what.. SELLERS are responding. SO They increase their prices...
Enough picking on the BUYERS!!!!
SO YES SELLERS!!! I'm talking to you....
If the Next agent that comes knocking at your door tells you that your price is too high or to lower your price to get the property sold..RUN!!!!.That just means you are selling at the wrong time for your own situation. Every seller has their own motives, but if you have no reason to sell...DON'T
Unless you have an extremely special property...yes yes I know all of your properties are special... but you know what I mean...like the Playboy Mansion or something... Don't just list the property for sale at a price higher than market to see if it will sell... IT WON'T .. You will probably end up selling lower than what you expected just because you kept it on the market for so long and started decreasing the price.
Just wait until the market catches up within a few thousand or thousands depending on the Value of your home. ($100 - $500k then within $5,000 to $10,000 of market value, $600k - $1mil $20 - $30k of market value and so on.)
And last...AGENTS!!! - Please stop pressuring your clients to submit offers on properties that either 1.> need too much work for someone that can't do it or doesn't have the funds to fix it 2.> Submitting offers without appraisal contingencies 3.> Submitting offers over market value 4.> SUBMITTING OFFERS TO HUD AND FANNIE MAE and having the buyer pay over appraisal!!!! 5.> Make sure to guide your client in the process not SELL THEM on the process. 6.> Do your 4 point inspections, home inspections, and wind mitigation inspections. I can go on and on....
So if you are in a situation where you need some guidance or just want to know more about financing, the market in South Florida, Foreclosures, investing..etc.. Feel free to call me or email me.. no pressure at all... Let's talk over some coffee...tea...
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