by Terry W. Pacetti on Sunday, June 5, 2011 at 2:54pm
"Smart Money is buying Houses." a quote from Dr. Lawrence Yun, chief economist with the National Association of Realtors--"35% of all home sales are for cash" In a couple of years there will be a housing shortage!! The reason is the small builders are not building--the banks are not lending construction money--and are wallowing in the bad loans--easy to fix!! Foreclosures are slighly slowing and inventory will begin to decrease!! Prices will go up and interest rates will follow!!
INVESTORS ARE BACK IN THE MARKET PLACE. WHY?? because the return on their money is almost non-existant and most believe we in the local market are at the bottom or are very close--inflation will kick in --prices for oil-food etc. is going up and interest rates will creep up--and so will home prices.
NO DEVELOPMENT: If you want to live in the immediate Saint Augustine area please take note that no new subdivisions are being permitted and developed==the huge builders have bought up most of the developed subdivisions and are steadily building houses and selling them--in a very short period of time there will be no lots availabe except scattered lots and fill in lots--I having been in this Real Estate and Development Business for 46 years haven't seen a better time to buy than right now!! For more details call me--Terry Pacetti, Realtor/Auctioneer 904-669-6000.
INVESTORS ARE BACK IN THE MARKET PLACE. WHY?? because the return on their money is almost non-existant and most believe we in the local market are at the bottom or are very close--inflation will kick in --prices for oil-food etc. is going up and interest rates will creep up--and so will home prices.
NO DEVELOPMENT: If you want to live in the immediate Saint Augustine area please take note that no new subdivisions are being permitted and developed==the huge builders have bought up most of the developed subdivisions and are steadily building houses and selling them--in a very short period of time there will be no lots availabe except scattered lots and fill in lots--I having been in this Real Estate and Development Business for 46 years haven't seen a better time to buy than right now!! For more details call me--Terry Pacetti, Realtor/Auctioneer 904-669-6000.
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