Newsletter from your Realtor
Sorry guys, I am a little late with my newsletter this month. (so busy) But here it it.
How does the saying go? Numbers don’t lie?
The statistics have caught up with what we are saying for the last few months. Sales of both existing single-family homes and condos improved in the second quarter compared to first quarter 2008, according to FAR’s latest housing data. A total of 35,178 existing homes sold statewide in 2Q 2008, up 38.2 percent over 1Q 2008.
Are you sitting down? This number speaks for itself. Currently in the Pinellas market, 34% of the pending and under contract real estate transactions are short sales.
REALITY check At the end of August 2008 there were 8621 single family homes active on the market (without FSBO) and 7134 Condos (without FSBO) active on the market in Pinellas County.
Also in August 526 homes and 306 condos were sold. This translates to an absorption rate of 6.1% for homes and 4.3% for condos in august. These numbers are better that in Jan Feb and March this year, but just to give you a better perspective, the absorption rate for April 2005 on condos was 62.2% and on Single family homes in June 2005 the rate was 59.2
Enough numbers for today. We are in for a few very interesting months. Whatever the government does with the “bail out package” for banks and insurances will have a huge impact on our housing market, and it can go both ways.
We at South Beaches Real Estate Professionals believe that the buying power – value of the US$ will go down further and (as you know) we always try to see the bright side of things, so a few weeks ago we started a big advertising and marketing campaign in Europe and we are already getting responses (much faster than we thought) That sounds great, doesn’t it? Well, not so great when you realize the bank policies have changed a lot and they are now asking a down payment from foreigners of about 40 or 50% (hope this will also change with the bailout package)
Expecting company? Spray a bit of perfume on the light bulb in any room to create a lovely light scent in each room when the light is turned on.
Ctrl + N Opens a new word document quickly. CTRL+W Close the current window
Blood stains on clothes? Not to worry! Just pour a little hydrogen
peroxide on a cloth and proceed to wipe off every drop of blood. Works
every time! (Now, where to put the body?)
Last but not least, give us your opinion, your questions, your concerns.
That was it for September, enjoy the last days of the summer and have fun