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My Insider Market Knowledge Reveals the True State of Real Estate for You

Saturday, April 19, 2014   /   by Doug Leugers

My Insider Market Knowledge Reveals the True State of Real Estate for You

 


 

1st Quarter Real Estate Market Update: What the Media isn't Telling You

 

If you have been watching the news lately, most agencies are reporting that the real estate market has softened and that now is not the time to do anything on the market. This could not be farther from the truth. You should never trust what you hear unless it's from your REALTOR. This is why I'm here to update you on what is actually happening in the market right now.

 

  • For instance, the slide in the video shows us that pending home sales are decreasing big time. This other graph also shows that there has been a big decrease in home sales as well. 

 

    • Now, what the media isn't telling you is this: Real estate sales are very regional. The only region with a significant decrease in sales was the west. Here in the south we had a 3.6% increase in home sales. The Midwest saw a 2% increase, and the Northeast saw a 7.1% increase in home sales.

 

    • So, what does this say? Well, I think we can take weather into consideration. This harsh winter has probably been causing a lot of people to delay their real estate endeavors, and this has impacted our market.

 

  • Another thing the news is not telling you is the breakdown between distressed and non-distressed property sales. 

 

    • Distressed sales are at an all time low at 15% of the total market. 

 

    • This is a great sign that the market is getting healthy again, because only a few years ago distressed sales made up 35% of the market. This makes me believe that the market is doing just fine, and we're seeing the type of sales that we want to see.
 
So, if you're on the fence about whether or not you're going to buy or sell, you should make your decision very quickly. Mortgage experts are predicting that interest will rise to 4.9-5.5% by the first quarter of 2015. This will significantly affect the type of mortgage that you can get and the amount of home that you can buy. 
 
If you have any questions about what steps to take or how you can approach the market in a beneficial way, then contact me and we can get you squared away for a successful transaction.

 

Leugers Group
Lona Leugers
1625 SE 46th St, Suite 4A
Cape Coral, FL 33904
239-398-3131
Licensed Florida Broker Associate
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The source of this real property information is the copyrighted and proprietary database compilation of the Southwest Florida MLS organizations Copyright 2019. Southwest Florida MLS organizations. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification.
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The data relating to real estate for sale on this limited electronic display comes in part from the Southwest Florida Multiple Listing Services. Properties listed with brokerage firms other than eXp Realty are marked with the BR Program Icon or the BR House Icon and detailed information about them includes the name of the Listing Brokers. The properties displayed may not be all the properties available through the BR Program. The source of this real property information is the copyrighted and proprietary database compilation of the participating Southwest Florida MLS organizations and is Copyright 2017 Southwest Florida MLS organizations. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. Some properties that appear for sale on this limited electronic display may no longer be available. For the most current information, contact eXp Realty Data last updated 11/18/2019 6:26 AM CST.
Ā© 2019 My Florida Regional MLS DBA Stellar MLS, Inc.. All rights reserved. The data relating to real estate displayed on this website comes in part from the Internet Data Exchange (IDX) Program of My Florida Regional MLS DBA Stellar MLS, Inc. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers' personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law.11/18/2019 6:26 AM CST
The source of this real property information is the copyrighted and proprietary database compilation of the Southwest Florida MLS organizations Copyright 2019. Southwest Florida MLS organizations. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification.