Are we at the bottom?

In my opinion, we are definitely at the bottom, if we haven't already passed it.

I do believe that from January through March of this year was the time to snatch up all the best deals. A floor has now been set and we are establishing a base in some communities.

However, rock bottom prices + rock bottom interest rates = great opportunity and lots of pending sales.

This is a great time for an investor paying with all cash. It's also a great time for a growing family, or perhaps even a good time for empty-nesters to downsize.

If I'm not mistaken, portability is still available. Not too mention that the government is giving an $8,000 dollar credit! Also FHA loans only require 3.5% down. That's a lot less than the traditional 20%, which nobody has anyway.

The only problem is that most of the good stuff, (foreclosures) are already gone. In Broward county alone, the foreclosure listings are down 50%, from over 1,000 single family homes in February to just over 500 today.

The good news?

A local asset manager tell me that there is a Tsunami of foreclosures on the way, which means we will probably be at the bottom for a little while longer. And besides, there are still some great deals out there.

Also, don't be afraid to go after a short-sale if you like it, just be prepared to wait for an answer and even increase your offer. Remember that base I mentioned earlier? Don't be surprised if you get into a bidding war with another buyer.

Also, just like in any other real estate deal, time is of the essence. The good one's go first. You should be prepared to strike while the iron is hot!

That's it for "Today in real Estate" Thank you for reading my first ever online blog. Check us out on the web at the websites listed below, and please remember, I'm a real estate broker, my wife is a real estate attorney, and together we own a title company. "We Work Together To Serve You Better"


http://www.a1realtygroup.net/

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