Biz Journals - large Real Estate closings
It looks like a number of large complexes are moving at tremendous discount. The smart money is getting property that there is very little risk of not being able to get a cash flow out of it. Buying an apartment complex for 39k, that means that they would need assuming 30 year mortgage that's $250/month to break even, excluding maintenance costs.
Biz Journals - % of foreclosure sales in Orlando
This is going to sound like the obvious thing to state but foreclosure sales made up for a large percentage of overall sales in Orlando. On a year over year basis though this is actually better. But these numbers may just be reflecting reminiscence of the foreclosure moratorium that was in place a month or so ago. Either way a 25% discount on a home price is huge. Homes that are deeply discounted by the banks go in a few days of being on the market so fill out the sign in sheet below to get emails on homes right when they come on the market.
Thoughts on the employment situation compliments of Horowitz and company
Interesting take, basically stating that the government doesn't know what they are doing (well don't we all agree with that statement!?) when reporting the numbers. Adjusting too much for the seasonal affect for the employment numbers. He sites a number of sources and even more information in the links to charts, it's a lot to take in, but paints a much more detailed picture than the wonderful news who look at one number of the report.
Orlando 85/150 on recession recovery
It would have been nicer to be in the top 10 or so. But at least we're not last. Now I have been saying this for a while, that we are going to be in a recession for years to come, I think we won't see 2006 values again for 10+ years. This is based on statistics I pulled from the Japan's asset bubble burst in the 80's. It's the time to buy when there are less buyers around... less competition means better deals.
Orlando is number 2!
Well this isn't a good one to be on the top of the charts. Floridians rank number 2 for credit card defaults. This is only a mere 1% of Floridians however so although we top the charts in this category the amount of people this affecting is minimal. Another good thing out of this report was a decrease of 11% in total CC debt held by Floridians. From the article, "...8 million Americans stopped actively using their bank-issued, general-purpose credit cards over the last year.". Good stick it to the banks they can finally stop asking for tax payer money!
Another 5 guys burger
Admittedly this may have nothing to do with Real Estate but good burgers are good for the economy?
Sign up for email updates HERE Click Me
Search for your next home HERE Click Me
No comments:
Post a Comment