Archive for the ‘Real Estate Listings’ Category

Mortgage Giant Cuts a Deal with Homeowners

Thursday, November 5th, 2009

Mortgage giant Fannie Mae announced that it is willing to play “Let’s Make a Deal” with homeowners who are behind on their mortgage payments.

According to CNBC, Fannie Mae will give homeowners, who are in default on their loan, the option of renting the home and staying put for up to one year.  To be eligible, the homeowner must sign over the deed to the property.

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Home Buyer Tax Credit Extended.

Thursday, October 29th, 2009

Great news for home buyers, sellers and owners, alike.  The homebuyer tax credit has been expanded to include step up buyers, who have owned a home for 5 years.  It also extends the tax credit through the end of 2010.  

GREAT NEWS! 

It appears that Senate Democrats have recognized the tremendous value of the First Time Homebuyers Tax Credit and odds are it will be renewed soon. At this time, it is believed that the credit will allow anyone purchasing a home, by April 30, 2010, to participate and receive the full credit available.

The credit will continue until the end of 2010, but the amount of tax credit will drop by 2 percent every 90 days.  The graduated benefit should help the housing market recover into and through the 2010 summer selling season.

Here is the text of the story as reported in Bloomberg News today:
Senate Democrats on Board with Credit Extension

Senate Banking Committee Chairman Chris Dodd (D-Conn.) says Senate Democrats have agreed to extend the first-time home buyer tax credit.  The latest version extends the program to home sales signed not closed by April 30. Purchasers would have another 60 days to close the sale.  The credit will also be expanded to include so-called step-up buyers who have lived in their current home for at least five years.

The credit would be cut slightly to a $7,290 cap.  Income eligibility for first-time home buyers would stay the same, but it would rise for step-up buyers to $125,000 for individuals and $250,000 for couples.
Source: Bloomberg News, Dawn Kopecki and Ryan Donmoyer (10/27/2009)

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Friday Good News for Housing!!

Friday, October 23rd, 2009

 The stock market is back to 10,000, the level it reached in 1999.  Sales of existing homes were up a whopping 8 percent, to the highest level seen in 2 years.  The news is abuzz about an extension of the First Time Buyer Tax Credit….But, is it time to “Party like it’s 1999″???

Here is a snapshot of Friday’s real estate news.  You decide.

  1. A record number of people snapped up bargains in September.  The median price of a home sold in the US fell to 174,000, down 9 percent from $191,200 one year ago.  Note: The significant price drop could be blamed in part to the First Time Buyer Tax Credit which favors the lower priced homes.
  2. Keep in mind that the homes counted as “sold” in September were actually purchased in June, July and August.  No doubt the push to buy this summer had something to do with the expiring $8000 Tax Credit.
  3. 70 percent of all homes closed in September were foreclosures or distressed property.
  4. 80 percent of the homes closed, were sold for less than $250,000.  The market above $250,000 has stalled and inventory is rapidly growing.  And, the more expensive the home, the slower the market.
  5. The biggest sales gains (not price gains) were seen in the hard hit cities of Miami and Orlando.  Sales in Miami were up 71 percent from last year, Orlando 65 percent.  Note: Prices are still falling dramatically in the Sunshine state.  In Miami and Orlando prices declined more than 30 percent from last year;  Tampa prices fell to $133,000, down 17 percent.
  6. Sales of existing homes were down nearly 20 percent in Atlanta and Birmingham.  Local Realtors blame job loss for lack of activity.
  7. Prices were flat or up a bit in some cities:  Dallas, Houston, San Antonio; Tulsa; Jackson, MS and Washington DC.

Thank you for visiting InfoTube.NET.  Search our site for thousands of great deals on property or Post your Property Listing for Free.   We never sell your info or spam anyone.  No popups or dead links since 1989.  Happy Friday to all!!

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Extending Home Buyer Tax Credit. Pro’s and Con’s

Tuesday, October 20th, 2009

Not surprisingly, real estate industry lobbiest are attempting a full court press as they make a final push for extension of the first-time buyer tax credit.   

And, it’s little wonder.  The IRS estimates that 1.4 million homebuyers have claimed the credit through August, and the Realtors Association estimates the credit was crucial in pushing 355,000 of those buyer’s off the fence.   

If the real estate industry gets it’s way and the amendment passes, the $8000 tax credit would be extended to June 30th, 2010 and it would allow more taxpayers to qualify for the subsidy.  The amendment would increase the income limit to $150,000 for a single filer and $300,000 for a couple, up from the current limit of 95,000 and $170,000, respectfully.

The Pro’s: Why Vote “Yea”

  1. Lenders are still in trouble, as more people default or fall behind on their mortgages.  Experts predict an additional 1.5 million foreclosures in 2010, increasing supply and further eroding prices and demand. 
  2. Dems and Rep like it.  The proposal was introduced by a GA Republican, Johnny Isakson, and it is also supported by Democratic heavy-weights.  House speaker Nancy Pelosi and Senate Majority Leader Harry Reid support the extension, President Obama hasn’t taken a position for either side.
  3. Still too Many Houses.  Although the supply of existing homes on the market has fallen from 1-5 months down to 8.5 months, a healthy market has only 5-6 months supply of house.
  4. Unemployment is Rising.  With national unemployment levels at 10 percent, and some states reporting a far higher number, extending the taxpayer subsidy of housing market would likely create and preserve jobs.  In addition, people out of work usually means more loan deliquency, foreclosures and further downward pressure on pricing.

The Con’s:  Why Vote “NAY”

  1. The Cost to the Taxpayers.  The extension comes with a heavy price tag of $16.7 BILLION over 5 years.
  2. As bad as Sub-Prime.  Opponents argue that the subsidy has artifically propped up the prices of inexpensive homes, targeted by first-time buyer’s, thereby creating another potential mini-bubble in affordable housing.
  3. Both Opponents and real estate industry admit that most people who claimed the $8000 deduction, would have purchased a home anyway due to historical low rates and steep price declines.
  4. Fraud.  The IRS has identified over 100,000 cases of fraud involving the tax credit.  On Thursday, the House Ways and Means Committee is scheduled to take a closer look.
  5. Did we mention the cost to taxpayers is $16.7 BILLION?

Yea or Nay???  We thank you for visiting InfoTube.net FREE homes for sale and rent website.  The website provides free legal forms and contracts, marketing and sales tools, real estate advice, news and updates for buyer’s, sellers, agents and builders.  We invite you to subscribe to our feed or leave a comment in the space below.

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Latest Home Sales Data and Predictions for 2010

Tuesday, September 29th, 2009

Case Shiller just released its latest report on the state of the residential estate market.  The good news is that home prices are falling more slowly.  The bad news is that that we have a little ways to go.

What the Numbers Show:

  • Through August, 2009, the price of an average home sold in the US fell approximately 13 percent, year over year, from 2008 levels.
  • Home prices have now dropped to 2003 valuation levels, wiping out 6 years of home appreciation.
  • Since the peak in 2006, average home prices are down 33 percent.

What Do the Numbers Say About the Future??

  • Prediction:  The “average” home price will likely fall more than 13 percent by year end.  Reason:  Home prices are always at their highest in the spring and summer.  Families move during this time of year and they buy the largest, most expensive properties.  As a result, Summer home sales skew the “average” price upward in the fall, but only temporarily.
  • Prediction:  Home Sales will suffer a downturn due to the expiration of the $8000 First Time Buyer’s Credit.   So far this year, 350,000 buyers have been persuaded to purchase because of this incentive.   To read more about the success of the 1st Time Home Buyers Tax Credit, CLICK HERE.

Our Crystal Ball:  The pace of the fall is slowing, but the expiration of the tax credit and the ”shadow inventory” of another 1.5 Million foreclosures will continue to put downward pressure on the market in 2010.  As a result, we predict that 2010 home prices will decline 6-7 percent.  The upside is that nearly all buying risk is out of the market.  Interest rates are at historical lows.  Any increase in rates would erase the possible gain a buyer would achieve from correctly timing the exact bottom…even if the timing were perfect. 

Bottom Line:  If you plan to buy a home within the next year, now is a great time.   Chose the best home, in the best location and the one that you can easily afford.  Live and enjoy the home for at least 5 years and you will likely be patting yourself on the back for a job well done.

Thank you for visiting InfoTube.net homes for sale and lease FREE website.  We have been in the business of connection Sellers and Buyers for 20 Years.  Chances are that we can Help You, too!!

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5 Tips for Smarter Home Buying

Thursday, August 27th, 2009

Record low interest rates, combined with deeply discounted home prices, have bottom fishers swimming frantically, in search of the perfect deal on the perfect home.  But, before you strike, beware.  Read our 5 Tips to Avoid Getting Hooked in a bad way.

  1. 1.  Think Long Term:  This is a market for smart bottom fishers, not flippers.  In this market, our advice is that you should plan to buy a home to live in, then hold it for 3-5 years, at the minimum.  Our reasoning, first, prices have not fully stabilized at these levels.  Secondly, there is no indication that prices will rise any time soon.  Last of all, we are still facing a rise in foreclosures in 2010, which will keep downward pressure on the market. 
  2. It’s All About the Local Market:  We have all heard the golden rule of successful real estate investing…Location, Location, Location.  In other words, if you have a choice between a bigger home in an ‘iffy’ area, or a smaller home in a better one, always pick the the Good Location.  Remember, when comparing locations, real estate markets are entirely a Local matter.  There are big differences within neighborhoods, zipcodes, school systems and suburban towns.  Focus on the hottest area’s and the ones that are conveniently located near major employment centers.  In rough sea’s, these area’s will always rebound the fastest and appreciate the most. 
  3. Be Wary of Foreclosures:  While some foreclosures may be a great buy, many of these properties are “cheap” for good reasons.  Many of the homes weren’t great to begin with and most have been terribly neglected.   Carefully look for mold, water penetration, structural problems, missing appliances, soiled carpets and flooring underlayments, broken windows and glass, strange odors and any evidence of illegal drug trade.  Also, never get emotionally attached to a foreclosure home.  Banks are notoriously hard to deal with and they can take forever to respond to offers.  Some buyer’s report a wait of several months before the bank approved an offer, or not.
  4. Get Pre-Qualified for a Loan:  Submit your letter of loan approval with any offer you make on a home.  Banks always require a letter of pre-qualification before considering a bid, as will any serious seller.  With proof of funds in hand, you will be taken much more seriously by all seller’s, and you will in the end, get a much better deal on the house.   Getting Pre-Approved for financing is no lose proposition.
  5. Don’t Take Chances.  Buyer’s are in the drivers seat and a lot of great values are available, but please don’t overspend.  The job market and general ecomony are uncertain.  Make sure you can afford the property, even if you find yourself in a bad or unexpected situation.  Even the perfect property can turn into a nightmare, if you can’t reasonably afford it. 

Thank you for visiting InfoTube.net homes for sale and rent website.  Property Owners can place free listings on InfoTube.net.  Buyers can search the site in complete privacy (no registration) for great deals seen no where else without pesky popups and dead links.

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Fraud Alleged in REO and Short Sales

Tuesday, July 14th, 2009

An accusation of fraud is a serious matter, but some home buyer’s and their agents are accusing the listing agents of bank owned property exactly that.

In a traditional sale, which is a rare event these days, the buyer’s agent presents an offer to the listing agent. The listing agent, in turn, presents the offer to the seller, who can reject, accept or make a counter offer to the buyer.

In contrast, REO (Real Estate Owned by the bank) contract negotiations take place with a bank, lender, or a representative hired to represent the lender. In contrast to a “normal” seller to buyer transaction, neither buyer or agent has the opportunity or ability to meet with the seller. Therefore, the buyer and their agent have no way of knowing whether their offer was actually presented to the lending institution, at all.

So you ask, “Why would a listing agent hide offers from the bank?” The answer is sadly cliche…”follow the money”.

Buyer agents allege that often, listing agents for the banks are also working with their own own buyers. If their buyer’s offer is accepted, the agent is paid two commissions, one as the selling agent, another for listing the property. So, if the listing agent holds back a higher offer in order to leave their client in the number one position, the agent “double dips” and earns double the money.

What can you do? Unfortunately, not much. The bank is unaware that other offers have been presented. Other buyer’s and their agents have no way of knowing if their offers were really presented, either. Usually buyers and agents are just told that their offer was rejected. Only after the closing can they see that their offer was better than the one the bank accepted and that the listing agent was also the selling agent.

If you suspect that you have been a victim of fraud or underhanded dealings, you can try to contact the lender. But, be prepared that most lenders want no contact with the public and even their own fraud departments show little interest in helping “would-be” buyers or their agents. And, as for the “listing agent for the bank”, it is highly unlikely that the  of the fraud will suddenly get a change of heart and confess.

Thank you for visiting InfoTube.net. We are here to help you buy and sell property. Please place a Free Home Listing on our Site or Search our Database for Great Deals.

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Sellers Should Lower Price Expectations

Friday, June 5th, 2009

In light of a new wave of foreclosures and distressed property sales, home seller’s may need to lower their expectations about home asking prices.

Recent reports find that nearly one in every four current home sellers (not seller’s of bank owned property) have dropped asking prices an average of 10.6 percent from their original listing price.   In dollar terms, that is equal to another $27.4 BILLION, yes BILLION, slash in the equity of  US homes.  Ouch!

The good news for home seller’s is that higher interest rates and a rapidly approaching deadline for an $8000 tax credit is creating urgency among buyers.   A recent uptick in sales proves that homes priced aggressively are selling very fast.  But, homes priced above the competition continue to sit and languish on the market for months on end.  Simply put, there is great demand in the market now…at the right price.  Seller’s may need to sharpen their pencils, but buyers are actively purchasing homes.

Thank you for visiting InfoTube.net homes for sale or rent website.   Please feel free to place a free property listing or search our database for great values on US real estate.

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Priced Reduced. Who Cares? No One!

Friday, May 8th, 2009

PRICE REDUCED.  JUST REDUCED.  PRICE DROP.  PRICE SLASHED.   These are the Signs of the Times, but why?  Who cares, really?

Although, Realtors love the phrase and evidentally believe it to be  a powerful message, PRICE REDUCED, means only one thing…the listing was overpriced.   It doesn’t mean it still isn’t.

So, why do Realtors hang banners advertising that a price has been dropped?  Do they believe that buyers care that an asking price was reduced from $250,000 to $200,000, if comparable homes in the neighborhood are priced at $175,000?   

Maybe, the hoopla is all about the agents themselves.  Maybe, it is a secret way of gloating to one another that they finally got their unrealistic seller to drop their price.  Woo Hoo, We Were Right. 

In any case, I find signs with swinging distress messages very unmotivating, somewhat negative and kind of sad.  They are the antithesis of salesmanship.  And, when I see these type of signs, my mind immediately conjures images of a stale listing, a probably dated interior, repair issues and a difficult seller.   

In my opinion, a good salesperson, who works on behalf of the seller, would post signs that gave buyers important, exciting news about the property.  “Seller Financing”, “Zero Down”, “Lowest Price in Area”, ”Free Appliances” or “Special Financing.  Positive messages, such as these, are informative and helpful to buyer and seller, alike.

Before Realtor’s spends any more of their hard earned money on negative messages, or homeowner’s allow another one to be posted, I hope they stop and ask themselves, “Why are we doing this and Who really cares???  

Thank you for visiting InfoTube.net.  We have been helping buyers and sellers for 20 years and we are here to help you sell and market your home.  Please visit our site to post a Free Property Listing or Search for Great Deals from the Privacy of Your Home.

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Facts about the 2009 Housing Crisis

Tuesday, May 5th, 2009

With all the housing and finance related news these days, it is hard to stay focused on where the real problems are and what specific issues affect the real estate market.   

Today, we outline the issues and target in on facts about the specific problems in housing and real estate in the U.S.  

  1. Real estate markets are Local:   The University of Virginia studied foreclosures in all 50 states; 35 metro area’s and 236 counties.  They found that 85 percent of the lost value in homes occured in only 4 states - Arizona, California, Florida and Nevada.
  2. Nevada, California, Arizona and Florida rank 1,2,3 and 4 in all foreclosure activity.    Combined together, these 4 states account for 55 percent of all foreclosures in the U.S.
  3. The 4 sunbelt states, representing 55 percent of all foreclosed property, were also the playing grounds of investors, second home buyer’s and “flippers” who rode the out the bubble in search of riches.
  4. 19 million homes are now vacant in the United States.  
  5. Lenders forecast another 2.5 million home foreclosures before the end of the year.
  6. The average value of a home today has fallen to less than $170,000, which is now well within the budget of the majority of workers in the country.  At the top of the bubble, the average home price in the US was $220,000, and hit $300,000 in California.
  7. Uptrends:  Home sales have increased dramatically in California and Nevada in recent months.  Discounts of 50 percent or more are bringing the inventory of unsold homes to their lowest levels since the crash began.

Thank you for visiting InfoTube.net homes for sale and rent website.  Users can take advantage of a variety of services, (flat fee MLS and Realtor.com) for buyers and sellers.   Free services at InfoTube.net include home searches  including video tours and multiple photo’s; free legal forms and contracts; real estate buying and selling tips;  community question and answer forum; no buyer registration; no pop ups or dead links; google mapping and more.

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Sellers and Realtors Disagree on Home Pricing

Monday, April 13th, 2009

Results from a study just released by HomeGain revealed an ongoing ’tug of war’ between home sellers and real estate agents.  According to the survey,  50 percent of homeowners said their houses should be priced 10-20 percent higher than agents have  recommended.  Conversely, 60 percent of real estate agents reported that prospective buyers are telling them that home asking prices are still too high.

One thing we can learn from this study is that one of these groups is certainly wrong.  Either home owners are unrealistic about what their houses are worth or agents are too pessimistic about what the home will sell for.  

On one hand, agent’s have more knowledge about the market than the average home seller does and they do talk with buyer’s every day.   Yet, real estate agents have an incentive to push prices lower.  The lower the price, the faster the sale, the quicker they can ring the cash register and move on to the next deal.   So, what should a home seller do???

  1. Ask 3 real estate agents what they would list your home for.  Ask questions and understand the reasoning behind their different price recommendations.
  2. Know your competition.  Check out every house that is for sale in your area, price and size range.  Visit Open Houses to verify the condition and ammenities being offered by the competition.  Use InfoTubes and InfoBoxes on for sale signs to gain helpful insight about homes for sale in your neighborhood.   Explore property MLS listings on Realtor.com.
  3. Visit New Home Subdivisions.  All things being equal, most buyers would chose a new home over a pre-owned home, if everything was equal.   Find out how builders are pricing new homes that are similar to yours.   Keep in mind that builders also offer thousands of dollars in incentives or special financing, and they include these things in their asking prices.   Try to learn everything you can from the builder and deduct the incentives and specials that you can’t match from their asking price to get a realistic look.
  4. Visit your county property tax database.  Most counties provide sales and comparable home information online.  Your local taxing department is the final authority about what homes actually sold for.

Remember that homes are selling every day, if they are priced right.  While seller’s want to hold out for the best offer, agents want to make quick sales.  The real truth about asking versus selling prices lies somewhere in between, so home seller’s need to check their facts, first.

Thank you for visiting InfoTube.net.  Please search our site to learn about thousands of great deals on real estate or if you are selling or renting a home, place a Free Home Listing with our compliments.

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Frank Sinatra’s Desert Hideaway for Sale

Friday, April 3rd, 2009

Calling all Frank Sinatra fans.   You now have a chance to own a piece of Rat Pack History for only $4.8 million. 

Villa Maggio, Frank’s desert hideaway, located 30 minutes from beautiful Palm Desert, CA is up for sale.  Mr Sinatra named the gorgeous estate after the role he played as Private Angelo Maggio in the movie “From Here to Eternity”.

Some more interesting facts about Sinatra’s Villa Maggio include:

  • Old Blue Eye’s built his desert hideout in the 1970’s.  He used it as a getaway for his family and friends.
  • The property sits on 7+ acres and is perched over the valley at an elevation of around 4300 feet.
  • The estate includes a main house, two guest houses, swimming pool, heliport and lighted tennis courts. 
  • The Rat Pack traveled on the Pines to Palm Highway to reach the mountain top hideaway, or they they flew to Palm Springs, then Sinatra helicoptered them to the property.
  • Sinatra owned the property for 12 years, then donated it to Loyola Marymount University, which sold it for $1.4 million in 1989.
  • The property is presently owned by a celebrity.
  • Sinatra designed the kitchen in the home himself.  He loved to cook, especially pasta dishes.  His kitchen has remained unchanged through the years.
  • Photographs of the famous hideaway are fantastic.  Click Here to check out the wonderful slideshow of Villa Maggio.  (One picture features the original telephones with 50 lines).

Thank you visiting InfoTube.net.  We hope you enjoyed taking a wonderful walk down memory lane with us.   Please accept our invitation to place a Free Property Listing on our website, or search our database for thousands of great deals on homes for sale or rent.

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Sales of Second Homes Drop, but Find Out Who Bought and Where

Monday, March 30th, 2009

According to the National Association of Realtors (NAR), the number of people who purchased a vacation or investment home fell by 30 percent last year.   And, more than 40 percent of those who did purchase a second home paid cash.

“We expected vacation home sales to fall given the impact of a declining economy”, said Lawrence Yun, chief economist for the NAR.  “A steady share of investment-home sales results from buyers taking advantage of deeply discounted prices in many areas, with a smaller portion of new homes in the sales mix”, state Yun.

Vacation and second home sales mirrored the sales for primary residences in terms of price declines.  The median price of a vacation home dropped to $150,000 in 2008, down from $195,000 (or, 23 percent) from 2007 levels.

Other Findings from the March Survey are:

  • Who was the “Average Buyer” of Vacation Property in 2008?  The average age of a vacation home buyer was 46 years old.  They purchased a property that was generally 316 miles from their primary residence.  Their median household income was $97,200.
  • Who was the “Average Investment Home Buyer in 2008?  The average age of an investment buyer was 47.  They earned a median income of about $85,000 and purchased investment property nearby their primary residence.  The median distance for an investment purchase was 19 miles from their home.
  • What type of Property was purchased for a Vacation Home?  70 percent were detached, single family residences; 18 percent were condo’s; 5 percent town or row houses; 7 percent other.
  • Types of Property Purchased for Investment:  64 percent were detached single family homes; 22 percent condos; 8 percent town or row houses; 6 percent other.
  • Where did Vacation Home Buyers Shop?  26 percent bought in small towns; 23 percent rural areas; 23 percent resorts; 20 percent suburbs; 8 percent cities or urban areas.
  • Where did Investment Buyers Shop?  28 percent purchased in the suburbs; 20 percent in a city or urban area; 23 percent rural area; 8 percent in a small town; 6 percent in resort areas.

Hopefully, the survey results will help home sellers picture who the likely buyer of their vacation or investment property may be.  Picturing who the customer is likely to be is important when target marketing to their needs.

Please visit InfoTube.net to place a FREE property listing, or search our database for thousands of great deals on homes of all types.   Thanks for visiting and let us know if you have any questions or comments in the space below.

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Buying a Foreclosure is Pure Torture

Tuesday, February 3rd, 2009

If you think that banks or lenders are like desperate seller’s, who are willing to do anything in order to find a buyer for their home, think again.

Picture Your Serious Offer Here.  Banks are completely under staffed in their REO and loss mitigation departments.  Buyer’s and their agent’s report a wait of up to four weeks or more, before a file is assigned to a negotiator, who may or may not, open the file and start to process the offer.  

My Way or the Highway.  In addition to understaffing problems, lenders adhere to a strict checklist of requirements.  If one item is overlooked or missing from their checklist, the file is routinely placed back on the bottom of the pile, where it can take weeks to resurface again. 

Don’t Call Us, We’ll Call You.  Lenders are famous for being non-responsive to offers, even if they are at full asking price.  As a practice, banks hold offers and wait for better ones to come in, before responding.  If you find yourself in a “multiple offer” game, be extremely patient.  With a little luck, you may hold the winning bid, as other buyer’s drop out due to anger and a lack of patience.

Real Sellers Take Solice.  While these cash ready buyers are pulling out their hair in frustration, both buyer and agent are powerless in communicating with or motivating the lending giants.  If you are selling a property, you can easily give yourself a huge advantage by responding to offers in a timely manner, extending courtesy to prospective buyers, and by providing access to and information about your home when ask.   

Get Ready, Get Set, Stop.  Buyers seeking a foreclosure need to accept that both they and their agent’s are in powerless positions.  Anyone who attempts to play the distressed property game, needs to accept that their efforts to buy a home will be futile, unless they have all the time in the world and the patience of Job. 

Thank you for visiting InfoTube.net, a free homes for sale website.  Check out our home listings, seen no where else.  Find great deals, minus the insults and hassels.

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Madoff and Banking Schemes Make Real Estate Look Safe

Tuesday, December 16th, 2008

In light of the numerous frauds, schemes and lack of regulation in the “once revered” securities and banking industry, real estate is beginning to look like the only safe haven for your money.

Unlike stocks, bonds and other exotic investment vehicles, real estate investors own something that they can see, touch, smell and enjoy.  In other words, “Real estate is Real”. 

While many unfortunate victims of the Madoff and banking ponzi schemes, may be forced to fire sale their mansions on millionaire road, I don’t see a huge negative impact on area’s like Palm Beach, FL.   There are simply too many ultra rich people on this planet, licking their chops at the prospect of getting a deal on trophy property, that was at one time unattainable.  These individuals are simply waiting on the sidelines, with cash in hand, to swoop down on a deal of a lifetime, with bragging rights included.

We are also beginning to see “the real estate is real” phenomenon take hold in other parts of the US, as well.  Housing sales are up in Las Vegas, Palm Springs and other desirable second home communities.

Thank you for visiting InfoTube.net homes for sale website.  Please feel free to anonymously post any comments or questions you may have.

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