Home Buying in Brooksville>Question Details

Charles D He…, Home Buyer in Vandalia, IL

Everyone is saying the same thing. Inventory of Homes is very low. When will it pick up,or will it pick up?

Asked by Charles D Henna, Vandalia, IL Sat Jun 16, 2012

looking for 3 to 5 acre mini farm, Last year saw many more listings then I am seeing this year.

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The Big Banks effectively wiped out 40% of the collective wealth of middle class America. Middle class America is enduring a 'values' and priority recalibration. Loss of wealth equates to significant loss of choice. Folks simply can not afford to move. Those middle class Americans who think they can will realize 'the fix is in' when they are required to offer larger down payments as a result of bank ordered (and manipulated) appraisals that are 20% too low. (plus 20% down, plus cash to bridge the appraisal gap. MORAL: the big banks don't want to provide mortgages)

Until real estate professionals make public the radical alternatives to traditional financing, the economy will be at the mercy of service sector jobs providing second and third incomes for hard pressed tax payers. Until middle class America is spared the consequences of a looming mandated healthcare bill, uncontrolled deficit spending, special class status of entitlement programs, and increasing taxes and home insurance bills along with continued predatory big bank practices...what we have today may be the reality until some of the stolen wealth is regained and alternative home financing has gained a foothold. At the current rate of economic growth, what has been stolen in three years could take decades to recover.

Move up sellers are staying put.

Downsize sellers realize 40% of their equity has been stolen and must wait for the market to restore some of their retirement equity.

First time buyers responding to the big banks advertised low interest offers realize the 'fix' results in the home they want being removed from the market. The owner 'stays put."

Too big to fails continues to undermine the "American Dream" agenda.

Inventory is so low here I can keep track of it with a note pad. Unfortunately, it is not because folks don't want to move, it is because they believe they can not move. Todays home owners are not well informed regarding their options. These options will not include the big banks. If DC keeps their hands off, and the Big Banks are prevented from interfering, this log jam will be resolved, but I think that is way too for which to hope.

Could the 'fix' be related to: Banks manipulate by imposing their criteria on appraisers for traditional sales resulting in low appraisals so their bank owned inventory can be cleared faster? This in turn lowers property values and further steals wealth from middle class America. And still no one has gone to jail.

This is a very serous..very serious problem.-.this cause of the low inventory.

Annette Lawrence - http://www.FloridaRealEstateMadeEasy.com
0 votes Thank Flag Link Sat Jun 16, 2012
Less available inventory is a sign of a stabiliziing market. Generally, homes some to market during the healthiest part of any 12 months cycle, Spring and Fall. You've missed the Spring market, but the Fall market is ahead, so your home may well be coming to market very soon ;-)

Best,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
0 votes Thank Flag Link Sat Jun 16, 2012
The market is getting back to a more normalized state. In the recent past, there was to much inventory and so prices dropped and it was all absorbed. As values creep up as they are in many areas, the inventory will slowly increase and more than likely it will bounce up and down in a range until it stabilizes. You said you saw listings last year and now you do not. If you are looking get a good agent in the area you want property so they can tell you when something comes on the market so you do not miss it. If it is could act quickly, as there are a lot of people out there looking, especially in Florida. In our market, we have many clients who are looking and those that act quickly are the ones that get the property.

Brooksville is a great area, I built many homes there in the past.

Good Luck


Howard Vogin
0 votes Thank Flag Link Sat Jun 16, 2012
Charles,

Inventory levels have shrunk dramatically in many parts of Florida. I do not know about Brooksville but in Palm Beach County buyers are snapping up new listings that are well priced in record time.

To add to that much of the inventory in many price ranges is over priced and/or in poor condition. Buyers need to be working closely with a Realtor so they know immediately when properties that meet their goals become available. Waiting a day will cost them an opportunity.

We will see our first median price increase in 7 years which is great news. Still many foreclosures coming but to date the market is doing a fantastic job of absorbing them. Interest rates remain low, the overall economy still has issues but I feel inflation is heading our way and with it higher housing prices.

The best of luck in finding the perfect property for you and your family!
0 votes Thank Flag Link Sat Jun 16, 2012
Talking of the Brooksvile Fl area, All I am seeing and being emailed is left overs from last year that didn't sale, because they were over priced ,and now set in a state of decay, with few true new listings, and this is what the local realtors in Brooksvile are saying. Inventory is very low..
0 votes Thank Flag Link Sat Jun 16, 2012
Charles, Not sure where you are looking to be but I am getting ready to relocate for work. I have 2.5 ac. 3000 sq ft home that borders the Withlacoochee State Forrest. E-mail me at jeffconnor@bellsouth.net for more if you are still looking.
Flag Mon Jun 25, 2012
I am not saying that at all. We have a huge inventory here.
0 votes Thank Flag Link Sat Jun 16, 2012
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