Hi All,
I can't believe the number of people coming to Sunday open houses at homes for sale in the last couple of weeks! Last week I had a condo in the El Conquistador area open and had 12 parties, which I thought was a lot. Then today I had a villa in Terra Ceia Country Club open and gosh, I lost track, but I think it must have been well over 20 parties. I ran out of flyers, which hasn't happened to me in years.
Anyway, I'm so excited to see that people are finally looking (and hopefully buying). We really needed this in this marketplace in Manatee County, FL.
See you at my next open house next Sunday!
Alice Ohme
Wagner Realty
Sunday, January 31, 2010
Tuesday, January 26, 2010
Manatee County Single-Family Market is Hot!
Hi All,
I can finally say that our low to moderately priced single-family home market is really moving around here now. The Bradenton Herald from this morning said sales are up and prices are up a little. Actually, I'm seeing the increase in sales but not the increase in pricing yet. In fact, we are still having a terrible time with getting home sales to appraise for the new financing. In other words, buyers are willing to pay more for houses in this market than the market seems to think the homes are worth. It seems to me this is kind of what got us into trouble the first time around so I think it's good that the appraisers are being very careful about appraised values.
Condo sales continue to be slower and pricing continues to go down in this market.
There are some important changes coming down the pike on FHA mortgages, including a higher FHA insurance premium upfront and not as much being allowed for seller contribution (was 6%, now proposed to be only 3%). So, if you are planning on buying a home anytime soon with an FHA Mortgage, now would be the time!
More later ...
Alice Ohme
Wagner Realty
I can finally say that our low to moderately priced single-family home market is really moving around here now. The Bradenton Herald from this morning said sales are up and prices are up a little. Actually, I'm seeing the increase in sales but not the increase in pricing yet. In fact, we are still having a terrible time with getting home sales to appraise for the new financing. In other words, buyers are willing to pay more for houses in this market than the market seems to think the homes are worth. It seems to me this is kind of what got us into trouble the first time around so I think it's good that the appraisers are being very careful about appraised values.
Condo sales continue to be slower and pricing continues to go down in this market.
There are some important changes coming down the pike on FHA mortgages, including a higher FHA insurance premium upfront and not as much being allowed for seller contribution (was 6%, now proposed to be only 3%). So, if you are planning on buying a home anytime soon with an FHA Mortgage, now would be the time!
More later ...
Alice Ohme
Wagner Realty
Friday, January 15, 2010
Boy Has it Been Cold in Florida!
Wow! 10 days in a row it never got above 40 degrees in Manatee County, Florida. This was definitely a new record.
However, our local real estate market is getting busy, which is something we've been waiting for a long time to happen. People are actually looking and feeling confident about buying now. Prices are so low and interest rates continue to be very low. What better time to buy than now?
Short sales are still a hassle but we're wading through them the best we can. One just has to be really patient and be prepared on what to do if the answer from the mortgage company is not what was wanted.
A lot of short sales are being rejected by the lenders. You have to submit offers that are near market value or the lenders are just simply not going to approve them.
It can be a tough process.
More later...
Alice Ohme
Wagner Realty
However, our local real estate market is getting busy, which is something we've been waiting for a long time to happen. People are actually looking and feeling confident about buying now. Prices are so low and interest rates continue to be very low. What better time to buy than now?
Short sales are still a hassle but we're wading through them the best we can. One just has to be really patient and be prepared on what to do if the answer from the mortgage company is not what was wanted.
A lot of short sales are being rejected by the lenders. You have to submit offers that are near market value or the lenders are just simply not going to approve them.
It can be a tough process.
More later...
Alice Ohme
Wagner Realty
Friday, January 8, 2010
Short Sales Continue to be a Real Nightmare!
Hi Everybody,
Well, after waiting for 6 1/2 months on one short sale, we still don't have an answer and after waiting for 3 months on another, it got rejected this week. Oh how I love working for months for nothing!! The worst part isn't even the lost income, but telling the customers about it really hurts the most! I like to give good new, I really don't like giving bad news, but that sure has become a big part of being a Realtor!
I really would be so very happy if the lenders could streamline their short sale approval process. It is so unbelievably frustrating to sellers, buyers, and agents. I'll bet it's frustrating to them too! I don't see this happening any time soon. Does anybody have any info about short sale processing getting better? If so, please respond and let us know what is happening.
Thanks for reading.
Alice Ohme
Wagner Realty
Well, after waiting for 6 1/2 months on one short sale, we still don't have an answer and after waiting for 3 months on another, it got rejected this week. Oh how I love working for months for nothing!! The worst part isn't even the lost income, but telling the customers about it really hurts the most! I like to give good new, I really don't like giving bad news, but that sure has become a big part of being a Realtor!
I really would be so very happy if the lenders could streamline their short sale approval process. It is so unbelievably frustrating to sellers, buyers, and agents. I'll bet it's frustrating to them too! I don't see this happening any time soon. Does anybody have any info about short sale processing getting better? If so, please respond and let us know what is happening.
Thanks for reading.
Alice Ohme
Wagner Realty
Sunday, January 3, 2010
Happy (Cold) New Year in Manatee County, FL
Wow, can you believe the high in Manatee County, Florida, today was in the 40's! That is really unseasonably cold for us. And the worst part is this cold spell is going to continue for about another week. It probably will freeze in this area tonight and maybe a couple of other days this week as well. I'm sure there are many very disappointed tourists here wishing for an escape from the cold weather up north.
I sure hope this won't be an indication of the way the 2010 real estate market will be in the upcoming year!!!
Anyway, showings seem to be holding steady as we go into the new year. I've seen a number of new short sales come on the market in the last two days, and I know these are going to be a huge factor in our local real estate market for years to come. Right now people are concerned about if they can buy a short sale and get it closed in time to meet the deadline for the newly extended tax credits.
It's going to be tight in some cases.
Anyway, Happy New Year to all my real estate customers. I wish you many blessings in this new year and I hope you have a healthy and prosperous New Year and may God bless you and your family.
Alice Ohme
I sure hope this won't be an indication of the way the 2010 real estate market will be in the upcoming year!!!
Anyway, showings seem to be holding steady as we go into the new year. I've seen a number of new short sales come on the market in the last two days, and I know these are going to be a huge factor in our local real estate market for years to come. Right now people are concerned about if they can buy a short sale and get it closed in time to meet the deadline for the newly extended tax credits.
It's going to be tight in some cases.
Anyway, Happy New Year to all my real estate customers. I wish you many blessings in this new year and I hope you have a healthy and prosperous New Year and may God bless you and your family.
Alice Ohme
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