Your Admin, before her real estate career.
Permafrost Economy
Things are finally thawing out weather-wise. Now it just remains to be seen whether we will see a real thaw in the economy as it relates to job growth. This week will add more data to be digested.
Personally, I would like to clone myself to be able to work 24/7/365. That’s about what it takes these days to keep economic frostbite at bay.
Conditions in the Florida Real Estate “Market”
There are so many different opinions about the state of the real estate market. You know what they say about opinions. Everybody’s got one. There is so much subterfuge by so many people in positions of authority that it is very discouraging when you do not have the experience or expertise to get something done in the real estate market. Try to choose the most reputable sources when forming your own opinions. You want to be able to make an informed decision when you have to.
My opinion on this market is that it should not be considered a market. A market is driven by ready, willing & able buyers & sellers. Not the feds, big banks & Wall Street (even if they are ready, willing & able.) They are not really paying attention to the main street market. Does that mean that you may want to take what these sources are saying seriously or skeptically? Decide for yourself. Right now the big players are “making the market” – if you can call it that. The red-tape is the problem now for smaller, independent investors who do not have staffs of lawyers, accountants & analysts.
Florida was just recovering from nasty hurricane damages in my market area when the financial markets infiltrated & infected the lending business for real estate. We are still living with those consequences, as well as the consequences from an all-too-predictable over-reaction by government.
Florida is slowly & unevenly recovering from the “recession” which officially ended about 5 years ago. We still have not recovered all the information, manufacturing & construction jobs we had before the recession. Trade, transportation & utility jobs are the state’s largest employment sector.
In January, 2014, MGIC’s Economic & Housing Indicators, National Overview for the U.S. “Observations: The U.S. Economy continued to grow at a subpar pace. Even though corporate profit margins improved, both businesses and consumers remain cautious. Looking forward, conditions appear to be right for stronger economic growth in 2014. To start with, the U.S. is on track to add nearly 2.2 million jobs in 2013, as the jobless rate declines. The bipartisan budget agreement may bring more stability, as well as reduce risk of further sequestration. There is a renewed outlook for housing as foreclosure activity fell 24%, existing home sales are up and property values appreciated 4%. First-time and trade-up homebuyers must fill the void left by fewer investor purchases.”
“Housing Market Condition:
Current STABLE
Short-Term Projection NO CHANGE”
PHOENIX
Current STABLE
Short-Term Projection NO CHANGE
SOUTH FLORIDA Markets
MIAMI
Current SOFT
Short-Term Projection IMPROVING
FORT LAUDERDALE
Current SOFT
Short-Term Projection IMPROVING
WEST PALM BEACH
Current SOFT
Short-Term Projection IMPROVING
(These are Metropolitan Statistical Areas)
The Best Intentions
Are you really a real estate investor?
My goals usually involve significant outcomes which are given traditional project management type dates for achievement. This is then translated into tasks for completion. The best method I have found for maximizing my time is to be focused like a laser on what I want. Then I take the very next 3 tasks to complete every day. Before you know it, you’ve got progress. The project management of holding other people accountable for their work & deadlines is formidable. It’s like herding cats in 3D. Any method I can find that I believe is a more efficient or better way to do something or get something done is worth consideration.
If you are like minded, you may want to check out my new system after it’s launched. Since we’re now in the midst of hurricane season, I hesitate to state that something will be done by a certain date when “acts of God” may be involved. That little clause in most contracts has saved many a party who was accountable to me. Last year was particularly trying because of complete changes in virtually every area of my life, with what seems in hindsight to have been dealt with by my having to do the thinking for all. Everybody is dealing with constant change. Unfortunately, because our time as humans is limited, we really do have to choose what we want out of our life. Your time is literally your life. You can’t do everything or be everything. So you have to choose the most important according to your values. Hopefully you are able to locate great teachers & mentors.
These days the prognosticators state that people don’t want to have to think about anything to make a decision. There’s too much research, thinking, understanding & acting involved for most people. Since my business is literally thinking & making decisions constantly, I have more than 30 years of investment transactions & project management to draw upon, which is why things may appear to be easy. It’s not. However, it does become like a sixth-sense ability to handle the challenges that occur. It’s expertise.
A potential way to multiply the time you have would be to add yourself to my networking lists of buyers, sellers, owners, etc. This is a very different real estate market.
http://kbertiger.com/listyourselfservices.html
Did You Know …
That from 1972 until 2008 it probably made more financial sense to rent than to own your own home in the US. Since 2008 it has been more financially beneficial to own. A real estate property in 2012 is worth 11% more than in 1981 AND you can own it for 63% less than in 1981. (Using average home price. Source: HUD Historical Data)
In 2011, 30% of all houses purchased didn’t utilize mortgage financing? They were purchased with cash. (Source: NAR 2012 Investment & Vacation Home Buyers)
