Sunday, February 28, 2010

Index shows slight drop in home prices

Index shows slight drop in home prices: "Index shows slight drop in home prices

WASHINGTON – Feb. 26, 2010 – A government index shows home prices fell slightly in the fourth quarter of last year from the previous quarter, but remained stable.

The Federal Housing Finance Agency said Thursday that prices, adjusted for seasonal factors, inched downward 0.1 percent in the October-December quarter. The index was 1.2 percent below last year’s levels.

The government index is based on loans owned or guaranteed by mortgage finance companies Fannie Mae and Freddie Mac.

It declined less than other housing market measurements during the housing bust because it excludes the most expensive homes and some of the riskie"

Wednesday, February 24, 2010

Prices of Homes are Rising. Take note.

2009 Q4 home sales surge. What does it mean for your market?
Did you read the good news in the NAR press release on February 11? If you missed it, here is the lead-in:

“Strong gains in existing-home sales were the predominant pattern in most states during the fourth quarter, with many more metro areas seeing prices rise from a year earlier, according to the latest survey by the National Association of Realtors®.

Sales increased from the third quarter in 48 states and the District of Columbia; 32 states saw double-digit gains. Year-over-year sales were higher in 49 states and D.C.; all but three states had double-digit annual increases.”
Think the increase is all foreclosures and abandoned homes? Not according to the survey:

“Distressed property accounted for 32 percent of fourth quarter transactions, down from 37 percent a year earlier.”
So what did make a big impact on home sales?
If you’ve been actively selling, you already know. According to Lawrence Yun, NAR chief economist, “The surge in home sales was driven by buyers responding strongly to the tax credit combined with record low mortgage interest rates.”

Having these same conditions prevail for the next few months in 2010 should continue to provide strong activity and selling opportunities in most markets. And it’s not just more units being sold at ever decreasing prices.

“In the fourth quarter, 67 out of 151 metropolitan statistical areas reported higher median existing single-family home prices in comparison with the fourth quarter of 2008, including 16 with double-digit increases.”
But how do these national statistics and trends impact your local market and opportunity?
NAR also provides some excellent data for state and local markets here.

You’ll want to visit this page regularly to find your own local market statistics – current, historical and trends.

For example, while nationally home prices averaged a 4.1% decrease from 2008, numerous local markets realized substantial increases in value in 2009. Most local markets in Ohio all saw increases. Anaheim in Orange County, California saw a 6% increase in value, as did Birmingham, Alabama, Little Rock, AR and Kansas City. And yes, many other local markets experienced average price decreases from the prior year.

Whether your local market is trending up or prices are still in decline, there are always people who need to move. Sellers (even banks) need professional marketing services by local, knowledgeable Realtors. And buyers want to save time and effort while bargain hunting. As you know, 90% of home buyers use the internet as a key part of their search process. Make sure that all of your listings have the robust information and rich media content that will attract a greater pool of potential home buyers.

Doing so saves you time and effort as well. Having a visual showcase of a distressed property ensures that bargain hunters don’t waste your time visiting a property that will cost them too much additional money in repairs for them to consider buying in the first place.

No trend or economic condition stays constant.
The home buyer tax credit will eventually cease. Mortgage interest rates will increase. Other economic conditions will become more important than they are today. Employment concerns in your local market will evolve and be very important to your own opportunity.

Make sure you stay current with your local market statistics and trends and can use them to your advantage when working with consumers who only hear about the national stats. You’ll quickly gain their confidence as THE local real estate expert – the one they turn to when it’s time to buy or sell.

Palm Citys Horse Talk News

Weekly Economic Summary - February 24, 2010

OVERVIEW ~ The markets began the week of February 8th through 12th with the Dow Jones Industrial Average (DJIA) barely holding to its five-digit level at 10,012.23, and by the end of the day, the DJIA had fallen to 9,908.39. The week was more volatile than usual, and the DJIA generally rose or fell by 1% or greater each day. The 10-year Treasury note, meantime, began at roughly 3.55% and ended the week at roughly 3.7%. The Treasury note yield was rising as the week moved toward its end largely because the Treasury’s auctions of 10-year notes and 30-year bonds were rather tepid, taking interest rates higher. And those auctions most likely lost a great deal of their energy because a few days of rising confidence about the world economy convinced many investors to abandon the safe haven of Treasury securities and look elsewhere for higher yields.

FOCUS ~ Over the course of the week, the question of whether Greece will find a way to make good on its debts developed into a rich and telling story. On the one hand, we find here the reasons the credit markets will probably continue to experience choppy waters for some time to come. On the other, we are witness to a group of countries sorting out their loyalties and priorities.

The main theme of many financial newspapers’ analyses of Greece was that the country is so small and its economic output so insignificant, that it really doesn’t matter if it defaults and sinks into an economic crisis. The entire population of the country isn’t even as great as that of Los Angeles. The country’s Gross Domestic Product is roughly 3% of the European Union’s GDP. Was it even worth our worry?

Yes, countered other analysts, asserting that if Greece defaults, that will likely lead to other countries following suit, particularly if it allows them to avoid some of the pain involved in financial failure.

The argument seemed to turn to the political stability of Greece, whose workers have shown themselves very ready to take to the streets when their wages, pensions and benefits are in doubt. If any nation or group, such as the International Monetary Fund, offers to provide major assistance to Greece, the offer will likely include demands that Greece clamp down hard on all levels of Greek workers, and the result could be an insurrection that spreads to other countries.

Wednesday, February 17, 2010

Land For Sale! 2 Acres Near Palm City,, FL - LandSaleListings

Stuart West, an equestrian and country home estate community has so much to offer. Privacy, convenience, beautiful homes, quiet, and tropical. 24/7 Security and a small HOA fee for $365 a quarter. Fees are for maintaining the bridlepaths, roads, and security. This lot faces east and will receive nice winds from the ocean. The Atlantic ocean is only 15 minutes away.

Monday, February 15, 2010

Myakka City, Florida, MOSS CREEK FARM

This beautiful 50 acre property is located just south east of Tampa in Myakka City. The property is absolutely beautiful, the home is move in ready and emmaculate. The large pole barn is superior structure and ready for boats, farm equipment, RV's plus there is an air conditioned shop in the back part of the pole barn. Just look at this film and come to Myakka City and live a pure country lifestyle and be within convenient shopping. There are not many properties like this one left.

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Sunday, February 7, 2010

Palm City, Florida..Equestrian & Country Home Realtor in Spotlight

Carol Barron-Cross, Equestrian & Country Home Specialist was recently tapped to become a member of the Global Women's Horse Industry Association, home based in Nashville, Tennessee. This group of women share their common interest in the equestrian lifestyle and business.

Carol Barron-Cross, Yanick Realty, in Palm City, Florida was just recently given the Spotlight in the association for her work in the equestrian field of real estate in beautiful, sunny Florida. Carol was recognized for her work throughout Florida in listing horse properties, country homes, and even first time buyers.

Congratulations to Carol Barron-Cross. You can contact Carol for information at

Thursday, February 4, 2010

Palm City, Florida, Four Acre Tropical Estate in Stuart-West

Stuart-West is certainly a secret to those that do not know the area of Palm City. Stuart-West is tucked away in some of the most beautiful tropical surroundings. You can fine at 1501 San Antonio, behind the Security Gates, this beautiful four acre estate. It also has its private gate as it is surrounded with PVC Fencing. This home has everything that one would desire and is upscale in design and amenities. A large screened pool overlooks the beautiful crystal clear canals that run throughout the neighborhood. Wildlife also visits daily, such as San Hill Cranes. See my website at and search for 1501 San Antonio Dr. $669,000. See the movie and give me a call for an appointment.

Pristine Equestrian Facility in Palm City, Florida For Sale

Take a few minutes and look at my website, and see this beautiful training facility. Take the tour. 19.2 acres with beautiful white PVC fencing, private gate, Club House, Indoor Arena is waiting for a new owner.
This elegant facility is truly a horseman's dream. Located just north of Wellington and has close access to the Fla. Turnpike and highway 95. Call for an appointment. You will like this property.