UNDER CONTRACT

The buyer unexpectedly received a work related transfer out of the country.  Now you get a second chance!

3 Bedroom / 2 Bathroom with Private Pool, Over-sized backyard, Bonus Room, Bonus Loft  1,525 square feet of living space.  MLS I.D.: F1031943  6191 NW 31st Way Fort Lauderdale, FL

You can not wait to sell. This article highlights my previous posts regarding our 'Shadow Market'

Home sales: Home sales increase, but foreclosures could mean more price declines -- South Florida Sun-Sentinel.com

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11 Reasons to Market your Property During the Holidays

1. People who look for a home during the Holidays are more serious buyers!

2. Serious buyers have fewer houses to choose from during the Holidays and less competition means more money for you!

3. Since the supply of listings will dramatically increase in January, there will be less demand for your particular home.  Less demand means less money.

The Shadow Market

It sounds ominous and that's because it is.

Mortgage holders in Broward County now have more mortgages in arrears than ever.  They have not yet foreclosed on them and no one is quite sure what the reason for that may be.  However we do know one thing.  Eventually they will foreclose and the will put them on the market.  When that happens we will be flooded with more foreclosures than we've seen to date.

Short Sales Completed in 30 Days?

A colleague came to me this morning asking if I had heard anything about what's happening in California for short sales.  I hadn't heard anything but this gets interesting.

He heard a rumor (we all know what those are like) that the State of California is compiling legislation requiring mortgage holders involved in short sales to complete the process of approval within 30 days.  Wow, wouldn't that be a great thing!?!  I've Googled the topic but can't find anything referencing this good news rumor.

UNDER CONTRACT

Yesterday I was hired to sell a 3 bedroom/2 full bath home with carport, eat-in kitchen, laundry room, pantry with tons of cabinets, a huge screened porch perfect for enjoying South Florida weather in a fantastic location.  At about 1,500 square feet with fresh paint and a terrific floorplan, this home will not be on the market very long. 

The Expanded (and Extended) Homebuyer Tax Credit

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:

• Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time buyers until April 30, 2010.
• Expands the credit to grant a $6,500 credit to current home owners purchasing a new or existing home between the date the bill was signed (November 6, 2009) and April 30, 2010.

Who Qualifies for the Extended Credit?
First-time home buyers who purchase homes between the date the bill was signed by President Obama and April 30, 2010.

• Current home howners purchasing a home between the date the bill was signed by President Obama and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
• To qualify as a first-time buyer the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
  

Existing-Home Sales Surge in Many States in Third Quarter, Metro Prices Moderating

WASHINGTON, November 10, 2009

Most states continued to experience rising existing-home sales in the third quarter, with prices moderating in many metro areas, according to the latest survey by the National Association of Realtors®.

Total state existing-home sales, including single-family and condo, increased 11.4 percent to a seasonally adjusted annual rate1 of 5.30 million units in the third quarter from 4.76 million units in the second quarter, and are now 5.9 percent above the 5.01 million-unit pace in the third quarter of 2008.

Sales increased from the second quarter in 45 states and the District of Columbia; 28 states and D.C. saw double-digit gains. Year-over-year sales were higher in 32 states and D.C.