January 23, 2012: for the past 4 years, existing home sales in SE Florida have risen. They jumped from 38,303 in 2007 to 69,665 at the end of 2011. Lower prices drove this 82% growth. A serious reversal now appears in the charts. click here
The Southeast Florida drop in existing home sales (by Realtors®) from 69,665 to 48,997 remains preliminary. A few good months could change it quite a bit. Still, it forebodes a serious sales collapse in the market if nothing improves.
Selling foreclosures en masse to investors (the most popular suggestion so far) would create “renter nation” … rental pools are the primary reason deep-pocket investors would get involved. That would put pressure on rental prices. Lower rental prices would persuade increasing numbers of potential home buyers to put off buying.
The home sales number may drop back to 2008 levels (miserable). Home prices will continue lower. Underwater mortgages will grow. The housing recovery which I suggested was in place on September 9th of last year ... will shrivel up and die.
The government can always change the rules, of course. The grand experiment of borrowing our way out of bad times has made almost anything possible at the Federal level. They might buy up all the foreclosures themselves, rather than dumping more money on the banks.
Put poverty-level folks in homes of their own, with minimal payments, and lots of social issues start to fix themselves. Or not. Sigmund Freud was fond of saying that crowds always regress to their lowest level of intelligence, morality, ethics and behavior. History remains on his side.
The problem seems almost hopeless. Of course, housing will recover. Some day. It always has. Ever since someone traded their first cave for an upgraded model with running water dripping from the cavern walls. It might take a while, however.
A further collapse in housing will be a serious and continuing drag on the American economy (but not necessarily its stock market). Housing problems will widen the economic gaps of our society further. Which means ... dangerous times ahead. Be careful.
Absolute Best Deal at the Boca Country Club (across from Costco on Congress, just north of Yamato)
Open the door on
the best deal at the
Boca Country Club!
$70K Price Slash for
IMMEDIATE sale!
MLS# R3036140: 3767 Mykonos Court
at the secure, gated Boca Country Club
$279,000 trust sale!
Any savvy real estate pro will tell you this: "If you want to open the door on a great deal, buy it in this market, and do it now!"
You can not make a better deal than this at the secure Boca Country Club. You must see this fabulous 3be/2ba courtyard home in Mykonos Court.
Almost 1500 sq ft of air-conditioned paradise in a lush, tropical courtyard setting.
The 2-car garage has separate doors for each vehicle.
The newly diamond-brited, kidney-shaped pool is the centerpiece of this easy-living jewel.
Walk through its beautifully-etched home entry doors into a spacious living area with decorator faux walls ... one-of-a-kind luxury.
An open-plan dining area is attached to the spacious living room, just steps from the newly-updated kitchen.
With brand new granite countertops, backsplashes and designer tiling, the super-convenient kitchen is just steps from the 2-car garage.
At the other end of this magnificent home, glass sliding doors in the master bedroom overlook the courtyard and diamond-brited pool.
The master bath is the largest in the Mykonos Court subdivision.
A Roman whirlpool adds the ultimate touch of luxury to the master bath.
One of the two guest bedrooms has enough space for both a bed and a computer center.
The second guest room is large enough to be your media center.
A newly-updated full bath, with granite countertops, serves both guest rooms.
The second guest room has it's own rear patio and a magnificent canal and golf course view.
And one of the best things about living in the secure, guarded, gated community of the Boca Country Club remains the fact that you can enjoy the lifestyle of the club, without paying any of the dues. You do not have to join the Club.
Of course, if you do want to join the Boca Resort and Club (which includes the world-famous Resort in downtown Boca), or the less expensive Boca Country Club only, please just click on the link below to ...
You must see this marvelous home today, because tomorrow really might be too late.
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The information at this real estate site and on
this page is believed to be accurate, and it is offered as such, with no guarantees
or warranties, implied or otherwise. All prices are subject to revision due to
real estate market conditions. Some information may be compiled from RMLS, Inc.,
for the period covered by the open bid web page information. In such cases, the
representation is based in whole, or in part, on real estate data supplied by
the RMLS, Inc. RMLS, Inc. does not guarantee or is not in any way responsible
for its accuracy. Real estate data maintained by RMLS may not reflect all real
estate on the market.
A newly-updated full bath, with granite countertops, serves both guest rooms.
