Wow… this is amazing!

States that suffered the most during the housing recession have the most to gain back, right?  I like that theory in general, but it doesn’t necessarily explain the ghost towns across the U.S.  However, Florida is looking pretty good according to myrealtorarthurswfl,

Only Nevada and California vied with Florida for being hardest hit by the housing crash, so it’s natural for Florida to enjoy a stronger turnaround than places where prices didn’t fall as far. Florida’s relative optimism on the sales front has been a recurring theme in the Beige reports this year.

There is some reason to celebrate. Since 2008, only Nevada has seen home sales grow faster, according to the National Association of Realtors. In 2008, the real estate bubble was rapidly deflating. Since then, sales are up 47 percent in Florida. That’s far ahead of most states, but well behind Nevada, where sales are up 62 percent.

While real estate growth remains stunted, at least there is something to look forward to in the coming years.

Photo by Phillip Pessar.

When my husband and I completed our first tax form after buying a home, I nearly jumped over the moon with happiness.  We went from getting about a $1,000 refund to SEVERAL thousand.  What a joyful day!  (Then when I became a Realtor and found out how much I had to pay, all that changed!)

However, the tax advantages of home ownership remain.  According to Inman News, there are some tax breaks for home owners. Here’s one:

Closing-cost deductions. Discount points and origination fees paid to your mortgage lender and/or broker at closing are frequently deductible, but there are rules around this, which tax software and/or professionals can help you make sure you meet. Note that, according to Internal Revenue Service Publication 530, “You cannot deduct transfer taxes and similar taxes and charges on the sale of a personal home.”

If you can buy – again – this is the time to just do it!

My weekend project include vacuuming, dusting, and maybe cleaning my bathroom from top to bottom.  I so admire those who actually have real projects (cleaning out closets, perhaps?).  From Apartment Therapy, here are 20 weekend projects for those having an abundance supply of energy and imagination.  (Special focus on #10 for me).

• Get your cleaning supplies together: garbage bag, surface cleaner, broom, dustpan, etc.
• Give yourself a set amount of time for each task. For example, 1-2 minutes per step.
• Pick up anything that’s not in its proper place.
• Gather all of the misplaced items on the top of your dresser or on your bed.
• Pick up each item and put it where it belongs.
• If there’s no specific place for an item, put it in a separate pile.
• Make your bed, dust the furniture surfaces, and sweep or vacuum.
• Find a spot for each of the items in your misplaced pile.

Clearly no one has seen the top of my dresser!

Photo by Ben Babcock. AKA it is NOT my bedroom.

Shak & Jill have recounted numerous times when people we know have stayed in their soon-to-be foreclosed homes for months without paying.  One friend remained for a year.  Another made it 14 months.  My feelings are mixed about taking advantage of staying in a place without paying for it

1)  Why not stay because it loses integrity when left vacant.  Living in a home often keeps it in better shape.  However,
2) Is it moral or ethical to stay for free with no intention of paying?

Whatever personal decision is made, some homeowners stay as long as three years!  From CNN Money,

Nationwide, the average time it takes to process a foreclosure — from the first missed payment to the final foreclosure auction — has climbed to 674 days from 253 days just four years ago, according to LPS Applied Analytics.

It takes much longer than that in Florida, where the process averages 1,027 days, nearly 3 years. In D.C., foreclosure averages 1,053 days and delinquent borrowers in New York often stay in their homes for an average of 906 days.

I suggest to people to stay, save their money, and be able to put whatever is saved back into the economy to help the nation’s recovery efforts.  Or save for your future rental.  But save.

Photo by moarplease.

Some predict that 2012 will be the last year of humans on Earth – or perhaps the last year of Earth itself.  Another prediction is that wheat prices will increase wildly. The predictions we care most about here at Shak & Jill, however, are real estate predictions. Inman News, a reliable source for information relating to real estate, has published four predictions for 2012. These include,

Consumers will get ‘hopeless’

I mean hopeless in the best of all possible ways. For years, buyers and sellers have been waiting for that singular event to occur that would cause a quick market recovery. But 2012 will mark the fifth or sixth year of the real estate recession, depending on who you talk to. I predict that those consumers who have not already done so will drop unrealistic hopes for a fast return to the heady real estate fortunes of the subprime era.

As unemployment numbers go down, job security will increase and we will see an uptick in sales. Realistic buyers, realistic sellers.

Before we welcome a new year, this is a good time to reflect on the biggest trends of 2011.  Foreclosures have remained in the news, as well as rock bottom interest rates.  Coupled along with this, however, is how much harder it is to get a home loan.

Let’s look back at some of the key real estate stories of 2011.

Lost Your House? There May Be Recourse – The 4 million people who lost their homes to foreclosure in 2009 and 2010 may be given the opportunity to have their files reviewed.

Poverty Hitting Affluent Suburbs – There are now 15.4 million people living in poverty, an increase of 11.5 percent since last year, and up 53 percent since 2000. While poverty is still high in urban areas, it is now spreading into suburban communities as well.

Agent Fatigue is Real – It has been on the market for a full year with intermittent showings.  She has dropped the price on the four bedroom house to $144,000 (from $152,000). I believe that part of the problem is Agent Fatigue.  If you have a house listed and there is very little activity on it week after week, month after month, you tend to forget about it.

Are You a Motivated Seller? – In this mean housing market, it is usually the motivated seller who lands the contract from the buyer and goes to closing.  There are several ways to figure out if you are a motivated seller…

Housing Market Worse Than During Depression – If only we could point the finger at someone to blame for the abysmal housing market.  However there were so many factors that – in the end – it has been worse than the one during the Depression…

Can’t Sell? Renting is an Option – When you MUST sell- or at least find a way to make that mortgage payment when it won’t sell – then renting can solve the dilemma.

Home Inspectors Offer Warranties – Finally!

That’s a snapshot of 2011, dear readers. Here’s hoping 2012 will bring great housing news across the country!

Photo by Dave Morrow.