Merry Christmas!

Merry Christmas to all of you. I hope Santa brought you everything you wanted!

So here we are. It's been another interesting year in the world of Real Estate. We have seen prices level out, inventory come down and interest rates reaching an incredible 4.125%! The question is, did you buy a house during this great opportunity or did you let it slip through your fingers?

Let's take a look back. The year started out normal and then the fireworks of the tax credits helped increase sales from March through the end of June. We had 4 record months in a row. Then the bottom fell out again. July through October were unusually slow in our industry and the market has started to rebound again this past month. I'm not a huge fan of government involvement in any industry, and I believe all the tax credit did was speed up those who were going to buy anyway.

So the question remains to me as it has throughout the year. Why are so few people actually buying homes in probably the best opportunity to buy a home in over 10 years? The answer of course is obvious. The fear that has been generated by the media, by our politicians and by all the talk show hosts out there has really done a job on our economy. I believe we would have came back a year or more ago if it weren't for the fear generated by these groups.

The obvious next question is what is in store for 2011? I wish I had that crystal ball to tell everyone that things are going to get better. In my mind, they certainly will get better. They can't get any worse than we have had the past several years in Brevard County. Interest rates have started to rise. They were at 5.25% right before Christmas. I believe that as interest rates rise, consumers will realize that they might be missing a great opportunity to own a home or investment property. Keep in mind, 5.25% is an awesome interest rate. We have become spoiled the past couple of years with steady low interest rates. It's just a matter of time before they rise to 6%, 8% or more. As mentioned in other blogs, this has a tremendous affect on your buying power.

One thing I like to tell our customers is that they need to understand that the real estate market is only tough if you are trying to sell a home. It's all about price right now, so if you are having to sell your home before you buy, look at your price. Even though you will take a lower price on your home, you will still get a better deal on the other end. If you price it right, they will come!

Well as I finish up Christmas night, the family is in bed, my two cats are sitting next to me as I watch a dvr'd CSI episode. It's been a great Christmas having my grandchildren here with us and both my wife's kids. Unfortunately my kids couldn't make it down this year, but that's ok. They are grown adults now and have their own obligations and have become two great men! I have a lot to be thankful for as I come to the end of 2010. My family is doing great, my granddaughter's disease hasn't had any major affect on her this year, and business is good.

Have a very Merry Christmas and a Happy New Year! If you need anything in 2011, you know we are always here to help.

The end of 2010

Well it's been a long year for us in the Real Estate business. Luckily, and thankfully to all of you, we have had another good year. That doesn't make it any easier, but we are very lucky and grateful that we are still doing well in this economy.

Many people have asked us why we have done so well throughout the housing collapse. I believe that most if it is our attitudes. We believe that the current bad market is only bad if you are trying to sell your home. With that said, if your home is priced correctly, it will sell. In todays market, it's all about price. So yes, it's tough to sell your home today...but have you seen how great it is to buy a home right now?

This past several months have been an incredible time to buy a home. I feel bad for those who have decided to wait. I know that they have most likely missed out on the opportunity of a lifetime. Rates have climbed from 4.125% a couple weeks ago to 4.75% today, Dec. 13. Prices have been level now for almost a year and I don't see them going down any further than they are currently listed. Do I know that for sure? Of course not, but our average price in the county last year was $117k and I believe this year we are going to end up right around the same price. We have bottomed, but I believe we did that a year ago. Right now it's really about figuring out when the home prices are going to start going up. We know that the more interest rates go up, the less buying power you have.

So if you have been thinking about buying a home, this is probably your last chance before interest rates go up as well as home prices. As always, if you need anything, that's what we are here to do....help.

Thank You Veterans

Lately I've been travling a lot. It's a lot tougher than it was 15 years ago when I traveled almost every day of the month. I guess it's age. My schedule the past few weeks has been crazy. Three weeks ago I spoke at the Inman's Agent Reboot in Fort Lauderdale, the day before I was at a Fannie Mae Broker seminar also in For Lauderdale. The following week I was in D.C. speaking at another Inman Agent Reboot there. The week after I was in Orlando doing a seminar called Internet Marketing and Lead Conversion - The Truth. Finally, this past weekend, I spent three days in New Orleans at NAR and had a blast!

Why am I telling you all this? Because I am free. I am an American. I'm proud to be an American, but more importantly, I'm so proud of the men and women who currently and in the past have given their time and often their lives so I can live the American Dream. I travel freely around this country because of these men and women. I run my companies and will succeed or fail, but either way because I have the freedom to succeed and fail. Only because of these brave men and women I have had all the opportunities I have had the past almost 50 years of my life.

Have you ever thought what it would have been like if you were born in a different country? Can you imagine what our lives would be like if we weren't blessed to live in the United States? I think about it often, how lucky we are and have been for so many years. Without our soldiers, our warriors, none of this is possible.

Make sure you always thank a soldier and their family's. Every time you do it puts a smile on their face.

To all the current and past men and women who serve our country, Thank You! and God Bless America!

When is the best time to buy?

I hear this question probably 5 times per month, every month. We all want to know when is the best time to buy. The quick answer is when you need a house. However, since we know that's not what people mean when they ask, let's look at why I believe November and December are the best time to buy a home.

A funny thing happens every year in the Real Estate industry. 3/4's of the entire Realtor workforce takes from the second week or so of November off through the end of the year. Personally I have never understood why so many people take that amount of time off, but I'm not like most Realtors and Brokers. I work, I work all year. I do take time off for Thanksgiving and Christmas. Usually about 3-4 days for each holiday. However, most Real Estate professionals look at this time of year as a very slow time. The reality is, it can be a great time to buy a home.

Here is why: Since we know that most Realtors take the last 6 weeks off for the most part, the amount of showings on listings goes down dramatically. So here we are in the second week of December. Most showings of homes are very few and far between. As a seller, when showings drop off, it's a signal for buyers to come into the market. The reason being is that with fewer showings on homes, sellers are more apt to negotiate a little more liberal because of their desire to sell their home and their fear that an offer at this time might be the only offer they receive.

So why buy now? Between interest rates being as low as they have ever been (4.125% the other day) and home prices being as low as they have been in around 10 years, and add in motivated sales and it's the perfect storm to buy. If your goal is to get the best deal on real estate right now, this next 10 weeks may just be the best time for you to put a contract on a house.

One last thing, don't forget that at some point in the very near future interest rates are going to climb. How high? When? Who knows! I don't have a crystal ball, but if you are close to my age (almost 50, yikes!), you know that the interest rates are crazy low.... I've never seen them this low. However, in short order they will go back to at least 6% or maybe 8%. A $200k house at 6% is going to be about $400 more per month than the current rate around 4%. That's a heck of a lot more buying power now than in the future.

Don't miss the boat and be one of the thousands that are about to say: "I should have bought a house during the crash of 2006-2010.

If you need anything or have any questions, don't hesitate to call or email.

Have a great weekend!

4.25% Interest Rates

I know, I get a little smiley when I see a rate that I have never seen before! I know I have said this before, but with interest rates between 4% and 5% why would you not buy. With the exception of adjustable rate mortgages a few years ago, we just don't see rates this low. So when will they go back up? It's just a matter of time as we all know. However, whether you take advantage of this opportunity to buy a home, is up to you.

Ok, so I know you think I'm just saying this so you will buy a home from us during the downturn. The reality is, we sell a lot of homes and have sold homes to more buyers than any other real estate office in our county (out of over 350 offices). This has nothing to do with Tropical Realty selling you a home. This has everything to do with you taking advantage of probably one of the best opportunities to buy a home in the past 15 years or more! When you look at it, by buying today you are getting a $200 - $300 a month savings verse when interest rates go up.

Go ahead and take advantage...it's time you got a good deal isn't it!

Have a fun night!

Mitch

A sharp drop and then back to normal

Hey Everyone!

I hope you are all doing great this fine Sunday night. Business has been interesting the past month or two. We had 4 record months from March - June. It was pretty incredible but most of us knew it was not a real return back. It was supported by the first time home buyer and resellers tax credit. Once the credit ended, we saw one of the worst two months since opening our doors with regard to new contracts. I was expecting a drop off, but was hopeful, that with our interest rates around 4.5%, we might get lucky.

With all that being said. August will not be as bad as July and it seems like a lot more people are starting to come back out again. Hopefully we will be getting back to our new normal. What is the new normal? The new normal is 50% short sales and foreclosures selling at a decent clip and properly priced properties selling within 90 days too!

In a market like this, it would be understandable for Realtors to give up on the business. I'm sure that many of my Agents think about leaving on a regular basis. It's a ton of work, customers are cranky for the most part and worse, buyers and sellers still are not very realistic on home prices. However, my Agents have held up strong and continue to do a great job helping their customers. Not only do they work full time, a real full time, but they live and breathe this stuff. My job, as the broker, is to work hard to make sure my Agents are trained properly to help you.

You may not know that every other Tuesday we have our training sessions. These sessions can touch on things such as goal setting, our over the top customers service, how to find homes more efficiently for our customers and so much more. My beliefs are the better my Agents skills, the better experience you are going to have with Tropical Realty of Suntree. One of the flaws in this industry is that training, besides the mandatory 14 hours every two years, is not really present in most companies or this industry. I grew up with the work ethic and words from my dad that carry me through. He said, " no matter what you do in life, make sure you are the best and most honest at what you do." I have always lived by being one of the best and always the most honest and ethical Realtor in the business. My Agents are reflections of my beliefs. They are all wonderful people who care tremendously about their customers goals and needs.

So if you are out and about with one of our agents. Ask them what we have been training on lately. I'm sure they will be anxious to tell you. If you haven't met your Agent yet, take the time to look at a few homes with them. Get to know him or her as they can make your home buying or selling experience very positive and fun!

I look forward to helping you!

Mitch

Just another day

Hi Everyone!

I hope you are having a great day today. Being a broker can be very interesting. It can also be very boring. However, since I'm not just a Broker, I'm an Entrepreneur! I have been self employed most of my adult life and have had a ball. I've had many ups and many downs, but in the end, everything has happened for a reason and the experiences have been amazing!

So here I am the Broker of my Real Estate Company, Tropical Realty of Suntree. We have around 20 Agents and an awesome admin staff. We are one of the lucky Real Estate companies. We have survived the brunt of this recession. Has it been stressful at one time or another? Of course it has, it's been down right scary a few times! However, we have managed to keep on growing 20% per year, each year. The reason, great systems and most important, great people!

When I started the Brokerage I knew I didn't want to be like a traditional brokerage. On the outside we appear to be just like any other Brokerage. We offer a full service experience. However, the real success of our company comes not only from our great Internet Marketing program, but from our relationship with each other within our office. I've owned several companies and I've run others. I have never been lucky enough to work with this many great people who all get along like family. It's really very cool. I feel very blessed!

So why am I telling you all this stuff? I'm not sure. I'm in one of those reflecting moods where I'm just thinking about things. Sometimes, no matter how difficult things can be, you just have to look at all the good in your life. Sure the Real Estate business, no matter how well we are doing right now, is a tough ride especially emotionally. However we keep our eye on the ball and know that we do a great job for our customers. We do whatever it takes to help our customers have a smooth non-stressful experience. Our job is to absorb that stress, deal with it, and give you service with a smile!

Let me know what we can do to help. Take care!

Mitch