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A lot of articles about the positives and negatives of the upswing real estate market are coming out and our panel of experts give you the low down on what is real, what is not, and what to believe. Andrew's guests on The Duncan Duo Real Estate Show, Arnie and David Diaz of Waterstone Mortgage and Shawn Eckley of Yesner Law, each talk about their take on the articles coming out about the real estate market.
There are even some articles that almost contradict each other. Some say that the real estate market is doing great but we have the lowest percentage of home owners that we've seen in a long time. There are also a lot of investor activity, people buying second or multiple homes.
On the mortgage front, Arnie agrees with the fact that foreclosures are down but Tampa Bay remains to have one of the highest foreclosure activity. In fact, we're top 3 in the country. But as far as sustainability of the market is concerned, he says it really depends on jobs. David adds that it would also depend on the goals and needs of the home buyer although each has different scenarios they have to go through. But to sum it up, he says buying and living in a home for the long term is going to be a good investment.
Andrew agrees with this. It really depends on the person's needs. People who are looking to buy in longer cycles (5-10 years), would almost always going to be fine as cycles on the average only last about 2-3 years.
Shawn also pitches in and although foreclosures, short sales and bankruptcy numbers have all dropped in his business, he says he doesn't necessarily believe all the articles coming out about sunshine and rainbows now that we are going into the good times, just like he didn't believe all the articles that said doom and gloom during the bad times. He's in the middle. The job indicator is really good. But although we're adding jobs and unemployment rate is going down, the salaries of the jobs we're getting are not equal, even less, than the salaries of the jobs we lost.
With elections coming up, there will be some discussions on how the economy will affect the real estate. No matter which candidate they go with, people tend to have that hesitancy when there is an election.
And just like anything, Andrew says that people tend to write articles about potentials, about what's going to happen, what's the future.
To get more Tampa Bay Real Estate news and advice from Tampa Bay's #1 Realtor, tune in to The Duncan Duo Real Estate Show on 970 WFLA - Tampa Bay every Sundays at 10 am.