Friday, March 27, 2009

They're not giving it away, close though

There is a lot of miss information out in the market place about the housing market in Florida and particularly in our part of the state.

Yes, there are some great bargains out there that are selling for less than the original price of the home sometimes for more than 50 percent less.

But remember that's not the current list price, that is the price someone probably paid during the boom.

It is not unexpected to see home that were bought for more than 400k during the boom selling as foreclosures now under 200k.

When a lot of people see a list price of 200k on the same home they are thinking they can get for 100k. In all likely hood that is not going to happen.

And remember real estate is a local market. So the same deal you get in Palmetto you may not get in west Bradenton.

Also, in Manatee, we are a waterfront community, the closer you get to the water the higher the prices go up, the homes and land get smaller for the same amount you would pay in other parts of the county.

All the best
Greg Owens PA
Keller Williams Realty of Greater Manatee
941.932.6343
greg@teamworksfla.com

It's deal time

This is one of the interesting realities of the real estate market in Manatee County.

Working with clients who want to buy a new build is a lot of fun. And helping to represent them with a new build is a pleasure.

That being said you don't necessarily need to buy from a builder to get brand new.

I have not found a builder yet, from Palmetto to Lakewood Ranch, who can compete with prices on pre-foreclosures or short sales in their neighborhoods or often in the same development they are trying to sell.

This is one of the reasons that anyone wandering without help in this bargain haven should look for professional real estate help.

I had a recent example of someone who called looking at purchasing one of the builders listings.

They thought they were getting a good deal from the builder until I explained they could buy a foreclosure, never lived in, same model, for about $100k less.

Market knowledge gave these home shoppers a leg up and they are now working on purchasing a foreclosure.

Greg Owens PA
Keller Williams Realty of Greater Manatee
941.932.6343
greg@teamworksfla.com

Welcome to the 70s

A lot of buyer's have been hiding out on sidelines waiting for the right moment.

Well here is some information about this moment.

On average in the Manatee/Sarasota county areas we're down to 2001 pricing in our homes. Pre boom times.

Interest rates on mortgages are below the rates in the 70s, when you could get a gallon of gas for a couple of quarters.

In fact in some cases we are at record low mortgage interest rates.

So prices are below boom times, mortgage rates are at an all time low.

Hmmm, buyers are waiting for what more exactly?

Greg Owens PA
Keller Williams Realty of Greater Manatee
941.932.6343
greg@teamworksfla.com

Monday, March 23, 2009

Sales up and prices down, maybe not everywhere

Existing homes sales were up in February across the nation and the state but not across Manatee/Sarasota counties.

There is a bright spot for buyers in the local market. The whooshing sound you hear is the air continuing to come out of the housing price balloon.

We're talking a 41 percent drop in the median home price year over year locally.

According to the Sarasota Herald Tribune the median price dropped to $144,000 from $254,200.

Our pricing is now at it's lowest since November 2001, according to the local newspaper.

Sales dropped in February for existing homes 7 percent year over year to 566 from 608.

It continues to be distress sales driving the market and prices. Foreclosures and short sales are setting the momentum.

The silver lining for sellers is that mortgage rates are dropping and first time home buyers are back in the market in a big way.

All the best
Greg Owens PA
Keller Williams Realty of Greater Manatee
941.932.6343
greg@teamworksfla.com

Thursday, March 12, 2009

Fitness break

Need a break from all that real estate news? Below is a blog by a local fitness expert about keeping your body in shape.

Hi my name is Rich Bennett of Key Fitness llc. I would like to thank Joanne Owens for allowing me to post a blog on fitness something I have spent my whole life trying to achieve and just like everyone else have had my stumbles along the way.
Hopefully I can help you not make the same mistakes I have and to be able to arm you with the proper knowledge to help you achieve your fitness goals and to have some fun along the way. My first post will be something i get asked a lot, Got any fat loss tips?
Most people are exercising less and eating more or eating more of the wrong foods.
These habits mean the fuel people are putting in their bodies is not getting burned as energy but stored as fat!
We all have circumstances that bombard us but excuses won’t get you results! You have to make time to take care of YOU first and foremost. If your body is breaking down (sick, tired, disease, etc) how are YOU going to enjoy and be productive in all other areas of your life? Your health is so important in you having a great quality of life. Notice how you don’t want to do much when you are tired or don’t feel good? You are less motivated so you get less done, you don’t want to be social so you keep to yourself while life and opportunities pass you by. Get out there and make the most of every moment! Get on the playing field instead of being a spectator. Put your body and health first.
Here are tips that really work!
1. Move your Body!
As soon as you wake up in the morning have a glass of warm water with fresh lemon juice squeezed from ½ a lemon (dash of cayenne pepper-optional) and go exercise (move your body)! This drink revs up your metabolism and helps flush fat! Try it before you knock it.
The Center for Disease Control and Prevention recommends doing 30 minutes of cardiovascular exercise most days (5-6 days) along with 2 days a week of resistance training to be healthy. Studies show that working out in the morning burns up to 3x’s more calories as opposed to working out at any other time during the day. If morning isn’t an option for you, anytime is a great time to move your body! Did you know studies show that lack of exercise ages you faster than your actual metabolic age? Get moving!
The best exercise is running outside/treadmill. Second best is biking and jump roping. If it worked for Rocky it will work for you. Try jump roping for 3 minutes, See how long you last, I dare you. It’s not as easy as it was when you were young.
To get the best and fastest results do interval cardio. For example- Sprint 30 secs, jog 30 secs, sprint 30 secs, jog 30 secs.
You can mix it up and gradually speed up and slow down.
For example- jog at 5 m.p.h. for 1 minute. Increase speed to 6 m.p.h. for 1 minute, then increase your speed again to 7 m.p.h. for 1 minute. If this is your max then go back to 5 m.p.h and do it again.
The purpose of intervals is basically to go moderate then go maximum exertion. Studies show that interval training burns more calories than running at a steady pace for 30 minutes.
We are all about being the best and getting results, right?
So start interval training.
2. Eat Breakfast (after your morning workout)
Another way to keep your metabolism revved up all day is to eat breakfast. Make sure and eat after your workout not before. You want your body to burn stored fat while doing cardio, not the food in your stomach, so have an empty stomach for doing cardio.
Have a sensible breakfast and you’ll give your body the perfect 1-2 combination to jump start your metabolism.
Have a protein (egg whites, tuna, protein powder), a complex carb, and good fats (flax oil, fish oil, peanut butter, etc.)
3. Work Out Your Legs & Butt (Glutes)
People think that doing cardio alone will get them lean.
However a lot of people reach a plateau with their fat loss & then come to me for help. Resistance exercises are very powerful tools to burning tons of calories and having a sexy, tight body. The legs are the largest muscles in the body.
Thus, they have the most calorie burning potential. If you are a female don’t be concerned with getting "bulky". You would have to do super heavy, be eating massive amounts of food, and have unusually high testosterone levels to achieve this. These exercises will give you lean toned legs.
Exercises I recommend:
(Remember, your form is the most important aspect of these exercises. To avoid injury and to accomplish the maximum results in the shortest amount of time, a professional should assist you in these areas.)
Step-ups- Doing step- ups works your glutes (butt), hamstrings and quads. Use a chair, bench, or stairs to step up on to. Do 20-25 steps on each leg 2-3 sets.
Squats- If squats are easy for you, then hold weights for more calorie burning. 30 squats. 2-3 sets.
Incline walking/running - If you are going to walk or run on the treadmill for your cardio workout put the treadmill at an incline. Work your way up from a level 4 incline to a level 13 incline. You will burn twice the calories and it will perk up your butt. This is where you can do interval cardio.
Bleacher running/walking
(Hey guys! Doing weight-lifting exercises for your legs helps you gain muscle in the rest of your body, so don’t neglect them!)
4. Use weight training to make your body a fat burning machine.
Fact is the more muscle you have the more calories you burn on a daily basis. So it makes sense to add weight training to your program. Even if you are slender, many slender people are fat. I call these people skinny fat people because they have no muscle tone, just flab. They may look good with clothes on, but not off. Weight training is the only way to tighten up those flabby areas. Weight training will change the shape of your body and put everything back in the right place. You will also increase your bone density, have more energy throughout the day, have a go getter attitude, and look younger!
5. Do a workout that burns
3 x’s the calories
Workout lower and upper body in the same workout. When working out, alternate between upper and lower body exercises and don’t rest in between. Why? You will burn twice the amount of calories by doing multiple movements back and forth. I do this with my clients and incorporate core exercises as well. They are toning up, making their body a fat burning machine, doing their cardio, and getting a great core workout all in 1 hour!
6. Eat Fat Burning Foods
Some foods are known for their fat burning ability. Cayenne pepper, ginger, & garlic increase your metabolism, cuts fat, increases your circulation & oxygen in your body… They also kill bacteria, parasites, and fungi. Shake a bit of cayenne pepper in your protein shake, water, or juice on a daily basis. You can take up to, but no more than, 1 Tbl. of cayenne at a time. I know this may sound strange, but it works!
Eat foods that have high water content - apples, cucumbers, celery, bell peppers. These will fill you up, they have little calories and they help hydrate you which flush fat out of your body.
Eat greens or green super food powders-(spinach, green lettuce, parsley, cilantro, arugula, kale, wheat grass, barley grass).
Green vegetables are known for being super foods which are very high in vital vitamins and minerals. Greens are also high in fiber (as most vegetables are high in fiber) which pulls excess fat out of the body and keeps you "regular".
Greens reverse the aging process because the fight free radicals and are full of antioxidants. Green powders are a fast and easy way to increase your energy. They are also very alkalizing.
Alkalizing foods neutralize highly acidic foods (e.g. breads, sugars, coffee, sodas, dairy) which allows the body to detoxify and let go of excess fat.
Green will also boost your immune system and prevent you from getting sick. Eat salads daily and buy green powders.
Mix the green powder in a glass of water or in your smoothie
2 times per day. It can look scary green but the health benefits are worth it!
Eat healthy oils- Studies show that taking Essential Fatty Acids (e.g. flax seed oil, avocado, fish oils, coconut oil) actually help you lose weight! Take 1-3 tbl. oil every day.
I hope these tips help. Next week I will review different types of workout and give you my opinion of them.
Rich Bennett Key Fitness llc
Try our Key Fitness for 2 weeks free. Classes start in March call
941-773-3719 for details. One on one training is also available.

Monday, March 09, 2009

A 300 percent increase in pending sales

Yes!

In the under 150k range for single family homes we have seen a 324.3 percent increase in pending sales over the past year, according to the latest Trendgraphix report for Manatee County.

We have seen a 118.7 percent increase in solds.

In real numbers this means 72 sales vs. 33 and 157 pendings vs 37.

And you can say little to no inventory. As of Feb. 09 we had 656 homes under 150k available. At the current absorption rate that is 4.1 months of inventory, very much a seller's market.

You can imagine what the left overs look like in this price range.

In the 150k to 200k single family home price range a little more inventory and about 6.3 months of supply based pendings sales. A neutral market.

Over 200k price homes. Lets just say the pickins are still good but there is an interesting trend.

I'm not going to over analyse this but over 200k even though sales are down more than 63.3 percent over last year and pendings are down more than 41 percent, the amount of inventory has dropped 51.6 percent.

It seems a lot of people have decided if they don't have to they are not going to list their homes They are going to stay out of the bloodbath this market can be.

With more than 2700 homes listed for more than 200k on the market we have just over 18 months of inventory based on pending sales. The inventory is going down in that range but not like the under 200k market free fall.

Now if you have a listing for more than $1 million. Pack a lunch.

You're in for a long, long haul, lets say more than 59 months of inventory based on pendings, that is 356 houses on the market when the report came out. One had sold in the past month.

All the best
Greg Owens PA
Keller Williams Realty of Greater Manatee
941.932.6343
greg@teamworksfla.com