THE FOLLOWING REPRESENTS THE VIEWS AND
OPINIONS OF WALT TOWNER AND NOT NECESSARILY THOSE OF PRUDENTIAL FLORIDA REALTY
KP MAIL BAG
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updated 3-31-2011
Report: Tampa home prices
fell 7% from year ago
TAMPA - Home prices in Tampa
fell again in January, joining most major U.S. cities that saw
their lowest levels since the housing market crashed.
Read More
updated 2-10-2011
Home values drop in fourth quarter 2010
Nationwide, sale prices fell 5.9% compared to
the same period in 2009, but economist predicts a turnaround soon.
Read more.
updated 1-20-2011
HOAs fight delinquent homeowners
Emboldened by a new law, boards ban non-paying
owners from common areas and disabling automatic entry devices.
Read more.
updated 1-6-2011
Fla. existing condo sales rise in Nov.
Nationally, new home sales and existing home sales also rose.
NAR chief economist sees favorable trends heading into 2011.
Read more.
updated 12-1-2010
Home prices falling faster in most areas
S&P/Case-Shiller Home found declines in 18 of 20 cities in
Sept., marking the second straight monthly drop.
Read more.
updated 11-10-2010
Tampa Bay home
values' drop still among worst in nation
Even as other areas of the economy
strengthen, Tampa Bay home values continue to fall.
Read full story
updated 9-15-2010
Wave of foreclosure
sales could hurt prices
If bank foreclosures rise, inventory
goes up and prices come down; but under-priced markets shouldn't see much
change.
Read more.
updated 8-27-2010
Economic
outlook: Jobs key to home sales
With lots of foreclosures and rates scraping 4.5%, the
American Dream is within grasp - but timing couldn't be worse.
Read more.
updated 7-27-2010
Home prices likely to fall more,
economists forecast Read More
Associated Press
In Print: Tuesday, July 27, 2010
updated 6-27-2010
Mortgage rates at lowest point since 1971
The average rate for 30-year FRMs sank to 4.69% this week -
the lowest point since Freddie Mac began tracking.
Read more
updated 6-24-2010
Gov. Crist signs
massive condo bill today.
Read more
Gov. Crist ceremonially signed this year's massive condo
bill that covers many issues, including bulk buyers, assessments, insurance, and
delinquent owners.
Fannie Mae to
penalize homeowners who walk away.
Read more
Government-sponsored mortgage purchaser Fannie Mae is trying
to encourage distressed homeowners to find alternatives to foreclosure by
banning those who walk away from getting new loans for seven years.
updated 6-22-2010
Squatters take over empty homes
Over 200 scammers in Broward alone have changed locks and
claimed ownership citing U.S. adverse possession laws.
Read more
updated 6-15-2010
Rates and mortgage volume fall
Few jump at today's historically low mortgage rates because
tax credit ended and underwater homeowners can't qualify.
Read more.
updated 5-19-2010
Will home prices have a 'saw-tooth' effect?
Prices could seesaw up and down if shadow
inventory sellers jump into the market when home prices start to rise.
Read more
updated 5-17-2010
Builders not excited about 55-plus housing
Many older adults aren't buying retirement
homes, preferring to wait for a market turnaround that increases their equity.
Read more.
updated 5-14-2010
Improved housing market but timing uncertain
Top economists at NAR's recent convention foresee an
improvement in real estate but disagree on the speed of an uptick.
Read more.
updated 5-7-2010
Freddie Mac seeks $10.6B in aid after 1Q loss
The taxpayer tab for the housing crisis continues to grow and
Freddie's total payout will rise to $6.1B.
Read more.
updated 3-30-2010
Age standards drop for over-55 communities
The recession hurt sales in active adult developments because
fewer boomers have enough cash from selling the family home.
Read more.
updated 3-16-2010
Boomers ready for retirement housing
Many experts believe that a real estate
turnaround will be led by the 78M baby boomers turning 55 over the next decade.
Read more.
updated 2-21-2010
Housing Market
Analysis
Kings Point as
of February 2010
Home prices are still depressed, but there still is good news.
Inventory on available homes has dropped more than 17% in the last 2 months.
Total inventory in Kings Point now stands at approximately 240 homes, down from
a high of over 500 homes. This does not mean that prices are going to start
increasing in the near term, but rather the housing market is finally starting
to stabilize. Homes priced at market value are selling within 45 to 60 days
which is a more traditional "days on market" time period. There still are many
homes on the market which are overpriced and probably will not sell in the near
term. Inventory could rise as many people have been holding back listing their
home or previously dropped out of the market because their home did not sell.
In many cases, people tried to rent their home when they could not sell and
these homes will also now come back on the market. This will probably keep the
home prices at their present level through the fall
I see inventory dropping to under 200 homes late in the year and
home prices starting to increase by the first of next year.
Right now is the best time to buy. Prices will never be lower.
Home selection will never be better. The government incentives to first time
buyers and move up buyers will not be extended past April 30th, and interest
rates are still at record lows, but are forecasted to start increasing shortly.
Walt Towner
Updated 2-12-10
Median home prices show signs of stability
Most experts were afraid to call a bottom to the real estate
market, but more and more now say prices are stabilizing.
Read more.
Updated 2-9-10
4 reasons to sell now
It's a tough market, but a loss taken on a
current home will be recouped by the bargain price of a move-up property.
Read more
Updated 12-20-2009
Walking away from Florida mortgage doesn't
always clear debt
You think banks are powerless to retaliate if you walk away
from your Florida mortgage?Think again. Read More
Updated 11-20-09
Fixed-rate loan foreclosures rise
About 4
million homeowners were in foreclosure or at least three
months behind on their mortgage payments as of September,
the report says. Read More
Updated 11-3-09
What happens if you don't pay the mortgage?
Some underwater homeowners want to bail -
Expect pulled credit cards and, after 90 days, an unstoppable process.
Read more.
Updated 9-28-09
How to beat the $8K tax credit deadline
It can still be done, but buyers must start now and select
homes and mortgages with the fewest time-delaying problems.
Read more
Updated 9-17-09
White House may extend homebuyer tax credit
Economists are evaluating the $8K tax credit's
impact on home sales and will make a recommendation to the president.
Read more.
Updated 8-28-09
Condos sic judges on owners for back fees
Some condo owners who stopped paying
maintenance fees could be in legal trouble as boards seek court enforcement.
Read more
Updated 7-29-09
Fla. tax base down less than expected
Taxable property values dropped 15% last year
say county appraisers, though they must ignore sales by lenders.
Read more.
Updated 7-22-09
WCI's Chap. 11 includes drywall problems
A final plan to emerge from bankruptcy still needs
approval, but the current version creates a trust for drywall settlements.
Read more
Updated 7-7-09
Studies find home prices stabilizing
The Standard & Poor's/Case-Shiller index
recorded an 18.1% drop year-to-year, but that's the best reading since June
2008.
Read more
Updated 6-18-09
New appraisal rules impact closings
Intended to safeguard the integrity of home appraisals, some
experts say the new rules complicate the deals instead.
Read
