Pending sales spiked by 10 percent in October 2010 in the Sarasota real estate market , signaling more closings in future months as the season begins in southwest Florida . There were 819 total pending sales reported last month, compared to 744 in September 2010 and 839 in October 2009. Pending sales reflect future closing activity and they are now trending upward sales dropped by 11 percent in October 2010 compared to last month, and 15 percent from last year at this time. The drop is likely attributable to a slowdown in foreclosures prompted by lender concerns over faulty paperwork. Looking at the most recent four months, there has been a fairly steady trend in sales and prices, indicating a stabilizing of the market following more fluctuations earlier in the year.Property sales in October 2010 stood at 487 total sales, compared to 547 September sales and 574 sales in September 2009. The breakdown was 351 single family home sales and 136 condos .The median sale price for single fa

Consumer confidence and business spending are key to whether the U.S. housing market will move into a virtuous or a vicious cycle in 2011, NAR Chief Economist Lawrence Yun told a packed audience at the Residential Economic Outlook Forum Friday in New Orleans . After the downturn, the housing market has clawed its way back to a point of near stability, Yun said, with the pace of new foreclosures easing, sales moving toward historically normal levels and prices on a national basis gaining modestly. At the same time, affordability remains strong. He said all of the price excesses from the housing bubble have been squeezed out. In San Diego , for example, buyers today would pay $1,564 a month in mortgage payments for a house that at the height of the boom would have cost them $2,833 a month. The broader economy is also showing positive signs, with businesses enjoying strong profits, sitting on huge cash reserves, and even adding jobs. Yun predicts this positive trend to continue into

Nov. 11, 2010 – Sales of existing condominiums in Florida rose 15 percent in third quarter 2010 compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors®. A total of 16,938 existing condos sold statewide in 3Q 2010; during the same period the year before, a total of 14,793 units changed hands. Fourteen of Florida’s metropolitan statistical areas (MSAs) reported higher existing condo sales in the third quarter, according to Florida Realtors. The statewide existing-condo median sales price was $84,000 for the three-month period; in 3Q 2009, it was $106,000 for a decrease of 21 percent. “A healthy housing market is built on the foundation of a robust economy,” said Dr. Sean Snaith, director of the University of Central Florida’s Institute for Economic Competitiveness. “As the economic recovery continues in Florida – and in particular as the labor market improves – the housing market will follow suit. The price decline in the condo ma

Image via Wikipedia Chaim Gleitmann Earns CIPS Designation On November 3, 2010, in Residential Real Estate , Sarasota County , by Press Release .0 ... SARASOTA, FL – Chaim Gleitmann of Xena Vallone Realty has earned the Certified International Property Specialist (CIPS) designation, awarded by the National Association of REALTORS® . Only 2000 real estate professionals throughout the world have achieved this distinction. Gleitmann also holds the Short Sales and Foreclosure Resources ( SFR ) certification, and the Transnational Referral Certification (TRC). The CIPS designation indicates expertise in working with international clients, as well as serving the growing multicultural population in the United States . It recognizes members who have achieved the necessary training and experience to work successfully with international clients and properties. Designees must complete rigorous coursework, master international business practices, and demonstrate achievement in international

WASHINGTON – Nov. 1, 2010 – The financial crisis and ensuing recession apparently changed the mindset of Americans toward their homes, turning what long has been the American Dream into just another financial investment. The result, strategic defaults – people walking away from the property and mortgages not because they have to, but because they can. The key consideration is time, said Jon Maddux , of YouWalkAway.com, which helps people turn their properties back to their banks. Some experts estimate nearly a third of all mortgage defaults – 31 percent – are of the strategic variety. RealtyTrac reported 2 million foreclosures in September and said one in 371 housing units received a foreclosure notice. Easy mortgages made people glorified renters rather than proud homeowners, with no emotional or financial ties. “People who made the decision to buy at the wrong time got stuck in a house that may not recover (its value) for 10 to 15 years. Does it make sense to keep it as an asse