Real Estate News Americans have
not seen a boring housing market since the last millennium. You know—the average, ordinary kind where supply just about matches demand and prices are steady; and where real estate ceases to be a topic of daily conversation. Instead, we’ve had six years of upside craziness followed by three years of downside terror. Now we’re in a tug-of-war between those who think we’ve finally found a bottom and those convinced the overhang of unsold homes is going to push prices considerably lower.
However, by 2012 we may finally get back to blissful boredom. With any luck, three years may be long enough for the U.S. economy to recover and for the nation’s housing inventory to shrink to more normal levels. At that point, housing should return to its old ways, with prices governed not by national mood swings and global credit crises but by local issues ranging from zoning, to immigration and to job growth. Prices are likely to keep falling a bit longer under the weight of foreclosures; the market is definitely closer to the bottom than the top. “We expect prices to drop for another year and then stabilize before starting to rise with incomes” says Standard & Poor’s Chief Economist, David Wyss.
Moody’s Economy.com predicts the S&P/ Case-Shiller U.S. National Home Price Index will fall about 16% this year before regaining ground. Based on the National Association of Realtors, national median home prices of $180,000 for the fourth quarter of 2008 would mean a median of $152,000 at the end of 2009 but then rebound to $179,000 by the end of 2012.
You’ll know we’re back to an ordinary, boring real estate market when buyers focus less on the intricacies of foreclosures, short sales and the like and go back to the things that used to matter most: What are the schools like? How quiet is the neighborhood? When am I going to have to replace that roof or cut down that diseased oak?
As Broker/Manager of Happy Herald Realty in 2011, we particularly focused on the innovators and leading indicators which create positive activity in our industry. Nothing is more fascinating than finding success in what has been otherwise described as “a bad economy sucking the air out of our Florida Real Estate Industry.”
Indeed there was plenty to cheer about in 2011. The countless buyers who had a bonus-year shopping for home bargains when a few years ago could not be imagined. Investors also had a good run for their money finding residential income properties throwing back healthy returns in a strong rental market. It was also a banner year for those who invested in themselves and turned unemployment into business opportunities as a positive alternative.
We have been proud to lead the way in local markets and provided Happy Herald readers with positive choices and ideas to help them locate these opportunities. The response was overwhelming! We introduced a fresh take on property exchanges; a way to sell properties in a difficult market that may be unfamiliar to many. As a result sellers came to Happy Herald Realty from all corners of the world to offer their properties for trade from as far as the Greek Isles to the Island of Margarita in the Caribbean and as close as Hutchison Island, Palm Beach, Broward and Okeechobee. Trading properties may be a novelty to some but it sure has roused the attention of our readers that are offering their properties on an ongoing growing list. HH/HHR has also captured the attention of developers near and far inquiring about the 11.2 acres of land we have exclusively introduced to our readers on “Millionaires Mile” located on a small peninsula between the Atlantic Ocean and Intracoastal, a rare gem ready for development and probably one of the most outstanding pieces of real estate in Florida.
We are raising the curiosity of many sellers through our positive energies by offering unsurpassed opportunities of marketing their homes, businesses, commercial properties with no nonsense in values and terms. We show the way for those who have poor credit or victims of the current economy how to find alternatives to purchase their homes when banks say no, but Happy Herald says yes. We focus on owners offering owner-finance, lease option and lease to purchase. Our HHR team is ready to provide assistance in relocating and finding affordable rentals.
We are offering an assemblage of Oceanfront Townhouses begging for renovation or reconstruction for an imaginative small builder or investor with the good sense and financial capabilities to find such an incredible opportunity. You are invited to A SPECIAL OPEN HOUSE to view one of these town homes that has a special flair; you will be a guest to visit the residence of one of the foremost artists of our time Victor Hugo Vaca II “The Renaissance Man” and his art studio; surely to be crowd-pleaser. Share in a special visit to see him at work and marvel at his collection of dazzling paintings. His home is one of the oceanfront townhomes offered for sale. If you are fortunate and inspired to purchase this unique oceanfront property you may be tempted to buy one of his masterpieces or trade a property of yours for his art or property. Happy Herald Realty is happy to offer you a guided tour by appointment just a phone call away.
Happy Herald Realty is reinventing itself daily to invite and serve the few, the brave, and the hopeful, who recognize the potential and value our beautiful Florida,has to offer. We are thankful for your recognition of the past year and Happy Herald and Happy Herald Realty is looking forward to spreading all-around good news. This is only the beginning, the best is yet to come. Happy New Year to All!
-Gabriel Palotas
For Open House details call 954.562.0110
