Real Estate News 05/13/08
FLORIDA HOME SALES
Florida Realtors reported positive signs in their local housing markets during first quarter 2008, noting a slower rate of expansion for inventory levels and an increase in pending home sales in some areas. Another positive note: A total of 8,581 existing condos sold statewide during the quarter, up 8.3 percent over fourth quarter 2007. "If we look at what is happening month-over-month for 2008, it appears that the bottom may be here," says 2008 FAR President Chuck Bonfiglio. "We are now seeing more activity, more sales and even prices starting to rise in some markets."
Quarterly analysis for homes and condominiums for the Naples area can be found on the following pages: Naples Homes, Naples Condos
LENDERS
Monday had good news and bad news for lenders. While a number of companies posted dismal first-quarter earnings, investors seemed to view the quarter as the bottom of the down cycle and proceeded to bid up mortgage lenders’ stock prices, hoping to get a high return after the market completely rebounds.
MORTGAGES
Mortgages could become easier to secure as investors move more money into mortgage-backed securities (MBS), which pool collections of mortgages. MBS got a bad name recently because some held subprime loans, but investors have started to view them as safe again - and a relative bargain.
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I thought the quote from Mr. Bonfiglio was interesting, because I have been thinking the same thing. I have found a great site while looking for real estate in Florida which shows how many opportunities await us.