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subject: How The Tides Have Changed In The 180 Market ! [print this page]

The housing market is significantly different

than it was a year ago. No longer can a seller

drop a sign in the yard and have multiple, above asking-

price offers before they get back to their

door. The number of homes on the market in

central Florida has gone from around 3,200 last

summer to about 19,000 today.

It seems that buyers have realized this, but many sellers are

ignoring the change and are trying to pretend

they are still in the other market. (Good news

for sellers that have a good agent advising them

because they will have an edge over the

competition.) The big winner though? Buyers.

Buyers have infinitely more negotiating power

than they did 12 months ago and are seeing

sellers willing to come down as much as 5-10%

on their asking prices whereas last August the

number may have been 1%... or even higher than

asking price! Because of this phenomenon, we

are actually seeing a reduction in the values of

homes as well.

With appreciation having been

rampant over the last two to three years, sellers

are still in a pretty good position, but buyers are

finally getting a break. If you are buying, you

needn't worry about the long time prospects of

your new investment, however. The pulse of

Florida real estate over the next twenty years is

quite strong. Why? The baby boomers just

turned 60, and most of them are not moving to

Wisconsin when they retire. (No offense

Wisconsin.) We are just experiencing a minor

correction in the market. For example, take the

home that I now have for sale. I would have

been better off if I had sold it in late 2005, but I

didnt.

Where the market is now, is kind of like someone

playing with a yo-yo while walking up a flight of

stairs. The trend is upward, but the correction

has given buyers a chance to get a deal... for now.

Looking deeper at my home, I have it for sale for

almost $10,000 less than it has been appraised for.

Why? Competition and good Realtor advice.

(Emphasis on good.) Trina Willhoit (407-808-

4586) also has a home for sale on my same street

in Lake Mary. She is representing her seller quite

well by creating an environment where the buyer

gets a fair deal while diligently representing her

seller... a rare broker indeed! (I hate to turn this

into a sales pitch for my house, but my loyal

readers would be disappointed if I didn't at least

mention it. If you want more info on my house,

contact this months Tried-N-True agent.) I

digress. Forgive me?

For more insight on

current loan programs

and which may be right

for you,

by: shaikh munaf

welcome to loan (http://www.yloan.com/)