Tuesday, November 23, 2010


·        Palm Beach - There were 517 sales of houses and condos for $1MM+ in the first 9 months of 2010, up 13% from the same period in 2009 – buyers are driving hard bargains and sellers are selling!

·        October statewide year-to-date existing home sales in Florida were u p 7% and condo sales up 33%

·        NAR Chief Economist Lawrence Yun said what is slowing down the housing market recovery includes:
o   Recent foreclosure moratorium
o   Tight credit
o   Appraisals coming below a negotiated price
·        Yun also said the good news is:
o   Low mortgage interest rates
o   Favorable affordability conditions
o   Pentup demand by buyers may soon be unleashed
·        Economists forecast 1 million new jobs in Florida over the next 7 years

·        Foreclosure Shadow inventory (not yet on the market) poses a threat to market values going up

·        Proposed limits on mortgage interest tax deductions are slowing sales

·        Should some of the savings from earmarked money being canceled be put in the form of a new tax credit to help home buyers?


Paula M said...

Your blog is very informative, I have learned so much from it. It is like daily newspaper :). Added to fav's.

Paula M

Marilyn Farber Jacobs said...

Thank you for the kind words, Paula. Much appreciated!

Wishing you happy holidays.