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Tuesday, November 30, 2010

Medicine and Real Estate: Sometimes the taste is just not good!

I read an interesting article this morning lamenting the condition of the real estate market.  And its writer made a good point - sometimes you just have to take the medicine.

For about five years there were lots of home sellers and investors who made a great deal of money especially in the Florida and Nevada real estate markets.  I witnessed this in Brevard County Florida which was no different from the rest of the state. 

As I was telling some folks yesterday - for every winner in the market there was a loser.

Sometimes the loser was the individual home buyer who purchased during the run up.  Sometimes the loser was the investor who continued to buy and flip until all the profits were leveraged on multiple properties - only to lose them when the market reversed.  Sometimes it was the banks that were giving out mortgages to anyone who could fog a mirror.  Perhaps it was your neighbor or someone else you may know.

After two years of decline, an unknown number of future foreclosures (the shadow inventory as they call it), current foreclosures and short sales, we must all step back and take the bitter medicine and live with the fact that some of us lost money.

And move on because the real estate market is what it is....

If you are considering selling your Brevard County, Florida home, give me a call at 321-693-3850 to discuss how I can assist you in the process.  

Considering a short sale, email me today.

Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

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