Timing the Real Estate market is as difficult as timing the Stock market. Both are influenced by outside factors which we have no control over. The South Florida real estate rental and sales market are influenced by many factors.
Interest rates
Supply
Demand
Employment
Weather
Taxes
Insurance
World Events
Some of these factors can be semi-controlled, others cannot. We must do our best to manipulate the factors that we can control to keep the market stable.
Monday, March 12, 2007
Sunday, March 11, 2007
Florida’s Real Estate Future
I am a Realtor in Florida. I have alot of investors that I deal with. They bought property at the top. Now we are getting close to the bottom. The main problem that they face is that rental prices have not kept up with the rise in home prices. The majority of investors are losing hundreds, if not thousands of dollars a month. The question is How Long Can This Go On For.
I am starting to see investors want to get out of their properties, even if they have to take a loss. Also, there are a certain number that are willing to give them back to the banks. If these properties are sold below market value, the comps will go down, thus will housing prices.The sad part is that landlords and owners are not being realistic. They have some inflated idea of their properties value and will not lower the price. The end result is that they maintain their prices, sit ion the property and then reach a point when they are forced to unload them for less then they could have gotten.As Realtors, it is our job to educate sellers and to the market conditions. By effectively helping them market their property we will build a lasting relationship.
Larry Lang
561-385-0518
llang6@bellsouth.net
http://www.southfloridarentals-homesales.com
I am starting to see investors want to get out of their properties, even if they have to take a loss. Also, there are a certain number that are willing to give them back to the banks. If these properties are sold below market value, the comps will go down, thus will housing prices.The sad part is that landlords and owners are not being realistic. They have some inflated idea of their properties value and will not lower the price. The end result is that they maintain their prices, sit ion the property and then reach a point when they are forced to unload them for less then they could have gotten.As Realtors, it is our job to educate sellers and to the market conditions. By effectively helping them market their property we will build a lasting relationship.
Larry Lang
561-385-0518
llang6@bellsouth.net
http://www.southfloridarentals-homesales.com
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