Freddie Mac eliminates traditional appraisals

Freddie Mac announces they are going to eliminate traditional appraisals as of Sept 1, 2017 for new home loans.
I am firmly against this. As we all know, the online value system are generic and many times grossly wrong. Each home is unique in style, level of function and degree of care. These items can vary the value up or down 50% or even more.
First, I agree that it could be used in the initial decision making process. But not the loan.
Secondly, before the government got involved, appraisals were half the price.
And lastly, appraisals don't add 10 days to the contract.
I see this as an opportunity for computer geeks to manipulate the market data. Mortgages are usually the largest debts in this nation and around the world.
This could put our nations economy in jeopardy, because that's a lot of risk on a promissory note from a skewed data source.

Buying and want an appraisal?
Call me
Curtis Rudolph Realtor®
813-240-6054 cell/text
Charles Rutenberg Realty

Curtis Rudolph Realtor, Charles Rutenberg Realty
Details were extracted from an article written and produced by Information, Inc.
For the full article, go here

Attention renters, rates are about to drop!

If you are a renter, relief is on it's way. Rental rates have been at an all time high for a few years now. However, if you are a landlord, I see trouble ahead. 

This is my opinion of the buying, selling and renting of real estate for 2015.
Mortgage interest rates are about to climb, according to all the rumors coming from the new Fed Chairwoman, Janet Yellen. They've been near zero for many years to help stimulate our wobbly, but growing economy.

Many home owners were hit hard when the economy tanked. Homes were forfeited to the banks and hedge fund conglomerates were gobbling them up and renting them back to those that were displaced. 

                             It's been 8 years since the peak and 4 years since the bottom. 

Most hurt during the great recession have recovered financially and have been trying to time out re-entering the market to get the lowest rate as they heal their credit and rebuild capital for a downpayment. 

              That time is now as interest rates are wobbling around a once-in-a-lifetime low. 

However, everyone seems to be sitting around and not taking action. This holding back is causing a pressure cooker situation of buyers. 

When the Fed says "let them rise", the pressure cooker full of buyers will surge to the market buying up the inventory. New homes entering the market will sell at top dollar as the rates rise and inventory will be low.

Where did these buyers come from?  
                                  These buyers were all renting!

Rental homes will flood the market as these buyers leave that market. 
Vacant rentals, cost owners a lot of money.
They would rather slash the price, then let it sit empty. 

I expect this to occur now through June and then go crazy through the summer and fall. 
If you are buying, buy now! Rates may never be this low again in our lifetime. 
If you are renting, buy now! Rates may never be this low again in our lifetime. 

Or if you can't buy, be willing to negotiate to stay or find someone willing to accept your price. 
Don't be scared! The landlord would appreciate the reduced rate more than a vacant rental and pray for a new tenant. 

Buying, selling or renting in the Tampa bay market?
I do that!

Curtis Rudolph Realtor®
813.240.6054 cell/text
Realty Direct Tampa
www.CurtisRudolphRealtor.com

Buyer beware! Rising interest rates will do opposite of what you think!

Traditionally, when mortgage rates go up, the price of homes go down. However, unlike history, raising interest rates this time will do the opposite. Interest rates have been so low for so long, it's become expected and has caused buyers to take the wait and see approach.

Mortgage rates are near historical lows. Freddie Mac reported last week that a 30 year fixed rate mortgage averaged 3.66% and a 15 year fixed rate mortgage rate averaged 2.98%. 

                                          In my opinion, we won't see rates like this again in our lifetime.

Janet Yellen at the Federal Reserve continues to hint that she plans to raise its target federal funds rate the middle of this year, which will cause mortgage rates to rise. Many economists predict that a 30 year fixed rate mortgage will average 5% by the end of the year. 

This move by the Fed will cause a surge of buyers that have been sitting on the fence to jump into the buying game. 

                                                           The laws of supply and demand will prevail. 

Current inventories will be purchased and new supply will be less than demand, causing a sellers market. Sellers can ask what they want, because there will minimal competition.

The Fed is asking the markets to be patient when asked the timing, describing it's approach to picking the time to raise the target rate. So, buyers beware! The clock on a low mortgage rate is ticking!

Homebuyer's need to move fast if they want to get a low price and a low interest rate, according to Realtor.com. In my opinion, affordability may decline as much as 10% this year. So, get in the game! 

Buying or selling a home in the Tampa bay area?

Call me today!

Curtis Rudolph Realtor®

813.240.6054 cell/text

www.CurtisRudolphRealtor.com

www.Facebook.com/CurtisRudolphRealtor

Was Janet Yellen appointed to finalize the redistribution of wealth?

The new Fed chairman, Janet Yellen has spoken and the world listens.
Janet spoke the other day about how the markets don't like surprises. Unlike all of her predecessors, she has chosen to release her plans continuously in bits and pieces, to smooth out the typical market reactions rather than the normal few times a year.

Can you and how do you capitalize on this new softer approach?
Think of it this way, it's the same message, but in slow motion. This constant information delivery idea will soften the knee jerk reaction to every word she delivers, reducing the fire drills, that are the common responses to the stock market.
She said she is not going to touch interest rates until mid 2015.
In other words, she said she is going to touch interest rates in mid 2015.
What should you do, knowing that this is coming?

If you are planning to buy a home, now is the time to get in the game and this is why I recommend taking action now.

When interest rates climb out of the near Zero zone, two things will occur.
#1 Your buying power will be reduced as the mortgage interest rates climb. The cost of the money will go up, reducing the principal purchase power of your dollar. In other words, you will have to reduce your purchase price.
#2 The raising of interest rates will cause a surge to the market to buy. Everyone waiting for the interest rate bottom, will surge to the market and gobble up available homes for sale. This will tilt the balance of supply and demand. Supply will plummet and demand will overpower supply, forcing a rapid increase in the price of a home.
These two actions will have a synergistic result. Your buying power will go down and the prices of homes will go up. By mid next year, you'll look back to today and say, why didn't I just do it?

Let me inject some conspiracy theory into this.
Was the timing of the 2015 interest rate change and price pop appointed?
Consider this. Our current administration ran on a slogan of change and redistribution of wealth.
When the stock markets were crashing, the wealthy pulled their money out and started buying real estate. Mostly from middle class American's who were hit the hardest in the economic melt down.
The word on the street is this was a 5 year plan. Buy at the bottom, rent them out and sell in about 5 years when their initial investment is nearly 100% paid for by the middle class that rented them.
Institutional, hedge fund buyers started gobbling up real estate at or near the bottom between 2010 and 2011. In 2015, the 2010 purchases will be reaching there 5 year mark.
Is it just a coincidence that home prices will pop around the same time by these rising rates?
If this happens as I expect it will, the poor will still be poor. Middle class will have lost most of their net worth to the wealthy and the wealthy will get much wealthier.

Real estate has been the commodity to make the wealthy, wealthier. Why not you?
If you are buying, selling or renting, I do that!
Let's get to work!

Curtis Rudolph Realtor®
813.240.6054 cell/text
Realty Direct Tampa
www.CurtisRudolphRealtor.com
www.Facebook.com/SouthTampaLuxuryProperties

Real estate agents and ethics

I love real estate!
I like the challenges, the people and I especially like making people happy.
Unlike most agents, I represent all sides of real estate. Listings, sales and rentals. Uniquely, I cover the entire Tampa bay area too.
Today, I had my ethics questioned by another agent and I take ethics very personal.
Today's blog is inspired by that event.
It had to do with a rental.
Rentals don't pay much at all and that's why so many agents don't do them. "It's not worth their time". When I hear a real estate agent say this, it really pisses me off. What they are saying is their time is worth more than yours!
I see it as, you have a need, I have a solution. So they don't pay enough to cover the gas some of the time. Whatever! I accept them because, I enjoy the busyness they give me and the people I get to meet along the way. Many give referrals, which is the greatest thank you!
I am working with about 20 rental clients, 10 buyer clients and about 5 listings at all times. With all this going on at the same time, I occasionally find a home that more than one client likes. Today was one of them and is the basis for this blog post.

 
I have been working with a rental client for about 2 month's. We've seen many homes together over the last 8 weeks. I have them on an auto search, whereby they receive emails from me automatically by my MLS auto search system.
This client of mine saw a listing and did a drive-by. They called to say they liked it and wanted to take a look inside and will most likely put in an application.
I informed them that I had already had another client of mine just apply for it and unless their application is declined, that the property was already taken. They really loved the home anyway and I didn't want someone else to get it, since I had 2 interested parties.
So, I contacted the listing property manager and asked if they would email my second client an application as a back up, should the first client be declined. Gladly they emailed it.
After my client completed the application, they emailed it back to the rental agency. The receiving agent informed them that there was an application already on this property, but they had another home coming available that was similar but was not going to be on the MLS.
The reason an agency doesn't put a listing on the MLS is to save them from paying another agent the $25 to $200 finders fee for a rental.
So, I called the rental agency and asked why they were steering my client away from the property they wanted to a property that I would not be paid on. She said that I shouldn't have sent them the second client!
I explained I sent my second client to them as a back up to the first. So that one or the other received the rental that they both loved. She basically said, sorry about your loss!
I told the rental agency that I was going to inform my client that they are steering them to another property merely to save from paying me the finders fee.
Angrily, she replied that I was being unethical!
I was being unethical?
The bottom line is I want my client to find the perfect place to call home. A place they feel safe. And it is my responsibility as their agent to see that they get a great deal and that they are treated fairly and within the law. Getting paid is secondary and a consequence for achieving the primary goal.
An agency that chooses not to list the property on the MLS is doing the owners of the properties they represent an injustice. The MLS will produce a buyer almost instantly, saving the owners month's of the home sitting vacant and month's of dead end maintenance expenses and its self serving motivation is to save the property manager a few dollars at the property owners expense.
Shame on you!

If you are buying, selling or renting, I do that. Call or text me and I would love to help.
Curtis Rudolph Realtor
813.240.6054 cell/text
Realty Direct Tampa
www.CurtisRudolphRealtor.com
www.Facebook.com/SouthTampaLuxuryProperties  

Is Tampa Bay in the path of a Hurricane?

The 2014 Hurricane season officially launches today.
Will 2014 be a big year? A record year? A historic year? Or another lackluster year?
As I've traveled around, when I mention I'm from Florida, the response usually includes our horrible and dangerous hurricanes. Florida seems to have a reputation that Hurricanes are a reason not to live here.
Let's look at the numbers since I moved to Tampa in 1965.
We had a direct hit by a category 1 hurricane in 1969. And, that's it!
That's one in a half century! Based on the average number of hurricanes each season times the number of years, the Tampa Bay area has a 1 in a 1000 chance of being hit. God has given the Tampa Bay area mercy year after year!
The lack of hurricanes is another reason the Tampa Bay area is a great place to call home.

These are the names assigned to the 2014 Atlantic Hurricanes:
Hurricane Arthur
Hurricane Bertha
Hurricane Cristobal
Hurricane Dolly
Hurricane Edouard
Hurricane Fay
Hurricane Gonzalo
Hurricane Hanna
Hurricane Isaias
Hurricane Josephine
Hurricane Kyle
Hurricane Laura
Hurricane Marco
Hurricane Nana
Hurricane Omar
Hurricane Paulette
Hurricane Rene
Hurricane Sally
Hurricane Teddy
Hurricane Vicky
Hurricane Wilfred
Lord have mercy on us again in 2014!
Tropical weather, incredible beaches and rarely a hurricane is another reason to consider the Tampa Bay area for your next home.

Curtis Rudolph Realtor®
813.240.6054 cell/text
Realty Direct Tampa
www.CurtisRudolphRealtor.com
www.Facebook.com/SouthTampaLuxuryProperties
www.twitter.com/Curtis_Realtor

In search of a rental home? Look up!

The challenges facing the victims of the great recession go deeper than just trying to find affordable housing. 

During the great recession, millions of homes went into default. It takes a long time to go through the legal process. Some are just now going through the process.  
Many home owners were literally removed from their homes. Caught in the economic meltdown, they don't know where to turn. Credit damaged, they seek a rental home until they can rebuild their lives and credit scores.
Another consequences of the economic melt down, was new construction, all but ceased. 

Therefore creating "The perfect storm".

During the economic meltdown, the population has increased, while building new homes had ceased. This has created an imbalance of people verses residences ratio. 
Add to this, the non-existent and restrictive funding practices to a massive pool of people with damaged credit and you have the perfect storm. 
In nature, vultures fly above the earth looking for the weak and hover waiting for opportunities.
Home owners trying to seek shelter and not finding any. And institutional buyers, knowing the laws of supply and demand have raised rental rates to levels never seen in our lifetimes. You begin to seek desperate measures. 

In your desperation, look up. 

Human vultures read this news and find a way to capitalize on your desperation. There has been a massive increase in fraudulant ads on Zillow®, Trulia®, Realtor.com®, Craigslist®, HotPads® and others to find the weak and desperate. They give an awesome story about how they are looking for just the right person to rent their home and they don't trust using traditional sources to get the home rented. They say they don't list with a Realtor®, to save you money. In your desperation, these all sound good. Their stories are very compelling. They say to send the deposit money and they will mail you the keys. These homes are usually beautiful homes at amazing prices. Being desperate, you take a chance and mail the money. The human vultures swoops in and grabs the cash.   

It is becoming more and more important to use the services of a Realtor® when renting a home.

A good Realtor® will work day and night, 7 days a week, looking for a home for you and your family. They will spend countless hours searching and investigating the property to make sure it is legitimately for rent and if it is in foreclosure, explain what laws protect you when the property forecloses. A good Realtor® will do all this at no cost to you. They just ask that when you find the perfect home, you respect them and their time by using them to secure it for you. 

Curtis Rudolph Realtor®
813.240.6054 cell/text
Realty Direct Tampa
http://www.CurtisRudolphRealtor.com
http://curtisrudolphrealtor.blogspot.com/
http://www.facebook.com/SouthTampaLuxuryProperties
http://twitter.com/Curtis_Realtor

Rental bidding wars? Has Tampa bay rentals gone mad?

Renters beware! Is the Tampa rental market out of control?
I just had a bad experience and thought I would share my experience in hopes that you gain some knowledge of dishonest landlords.
On TV, the Realtor® gets a verbal agreement from the potential buyer or tenant, then walks out of the room to call to negotiate on your behalf. Like on TV, it's verbal first, than written. 
I and a client successfully agreed on a rental home in Tampa. We accepted the listing price and terms as stated on the MLS. The potential landlord accepted our application fee from my client and she left to go home and start making all the moving arrangements. 
The following afternoon, I called the landlord to check the status of our application. The landlord said they accepted another offer. Shocked, I asked if my client was declined, which they said no. They just chose another offer. I asked if the other offer was different, in any way, since we agreed to accept the property with no contingencies on price, condition or terms. They replied no. 
Knowing my client would be upset, I asked the potential landlord if the other agreement was written, which they said no. 
I called my client and advised that she did not get the home and that they are not dealing with us honestly. My client really wanted the home and pushed the rent up another $1800 per year! I strongly discouraged the re-offer since it was above market and the landlord was already dealing dishonestly. However, it is my fiduciary duty to represent my client and so I did as requested. At 9pm I spoke with the landlord asking to reconsider our offer and that my client was willing to raise the rent by $150 per month but only if it were signed the next morning. The potential landlord agreed. 
The following day, I was notified by the potential landlord that the other party matched the price and was willing to sign a two year lease. 
I convinced my client to walk. A crook is a crook. If they agree to something, then disagree without any conscience, what will be the protocol in the night, when there is an emergency?
Had this landlord stated they were entertaining other offers from the beginning, this would have had a different outcome. 
The Tampa bay rental market is tight, but never is dishonesty a solution to adjusting rental rates to meet demand.
Keep it legal and honest. Hire a Realtor®! 
Buying, selling or renting? Give me a call!

Curtis Rudolph Realtor®
813.240.6054 cell/text
Realty Direct Tampa
http://www.CurtisRudolphRealtor.com/
http://www.facebook.com/SouthTampaLuxuryProperties
http://twitter.com/Curtis_Realtor

Congress trying to making the right move, squashes the little guy again!

It looks like congress has decided to let the mortgage deficiency tax benefit expire December 31, 2013. I believe there's a lot of strategic short sales happening out there. 
Unless congress chooses to reenact this tax forgiveness, I expect that many short sales being offered now will get pulled from the market and considerably less will surface in the month's to come. 
Unfortunately, the greatest pain will be felt by the poor and naive. This segment of the market has taken such a beating and this is a kick in the crotch while they are on the ground. This expiration will only benefit the wealthy and not increase tax revenue. 
The only way congress can capitalize on this action would be to enact a law that states that the buyer that is capitalizing on the seller loss, be responsible for the deficiency in taxes of the seller. This way, the seller is out of the obligation and the buyer still got a great deal!
As real estate professionals, we need to get the word out to educate everyone considering short sales or any other method used to get out of debt. Advise them to seek a tax consultant, before signing any contracts. 
For some, I know there are no other options. But for those taking advantage of those by coaching this activity, shame on you! Be a public servant and have mercy on these less fortunate's. Offer every option available to minimize the deficiency.

Thank you!
Curtis Rudolph Realtor®
813.240.6054 cell/text
Realty Direct Tampa
http://www.CurtisRudolphRealtor.com
http://curtisrudolphrealtor.blogspot.com/
http://www.facebook.com/SouthTampaLuxuryProperties
http://twitter.com/Curtis_Realtor

Economists are mystified by the lack of inflation despite the Fed's $85B monthly "stimulus"

I just read an article in FloridaRealtor about a story published in USA Today on how the economists are mystified by the minimal #inflation despite the Fed's $85B monthly bond buying. 
Really? Are these so called economists actual economists or are they just news reporters claiming to have heard a rumor that economists are mystified?
Let me shed some light on this mystery. We do have inflation! With a global economy, it's just not as noticeable in some sectors. 

Where we have been impacted, marketers have done an amazing job at disguising it. 
In the movie Christmas Vacation, Chevy Chase flips off a couple crazy drivers, but hides it from his family by diverting their attention saying "Hey look kids, a deer!"
What was a 16 oz. package of hot dogs is now down to 12 oz. and the price is up about 50% from just a couple years ago. Considering both factors, inflation is over 100%! The still weird "10 pack" couldn't shrink to an "8 pack" because it would be too obvious and we would create a ruckus! They just have slimmer dogs. If you called the factory, you would probably be given a great diversion reason, like they are better for you because they have less calories and their smaller packages reduces their carbon foot print. So, it's all good! Right? 
The economy, jobs, home prices, interest rates, #AffordableCare act "Obama-care", Iran's nuclear armament and so on has been the diversion and we've all been pre-occupied to really pay much attention. 
Secondly, we haven't really felt it yet. Gold is no longer the counter balance for the US Dollar. So the affect is no longer immediate. It will take a long time to fully realize the impact this "stimulus" has given us because the US dollar is just an IOU to be paid in the future.
The $85B monthly stimulus reminds me of a concept my dad taught me when I was young. "Horsepower hours." 
You can take a small engine and get a lot of horsepower out of it, but it will result in a shortened life. Or you can demand less horsepower from it and extend it's life. Either way, the life expectancy is in direct proportion to it's output. This $85B monthly "stimulus" will have an equal but opposite negative affect.
We are digging a hole to China and when we get there, we will hand them the keys to the Whitehouse. 
Inflation is here and we ain't seen nothing yet.
Stop the bond buying! Get fiscally responsible and Lord, heal our land.


Curtis Rudolph Realtor®
813.240.6054 cell/text
http://homesforsaleinsouthtampa.com/
https://www.facebook.com/SouthTampaLuxuryPropertieshttps://twitter.com/Curtis_RealtorRealty Direct Tampa

Uncle Ben Bernanke speaks and...

Uncle #BenBernanke (the Fed) spoke again Tuesday and he said to keep the #bondbuying at full steam! This is horrible news for home sellers because it put #homebuyers in the drivers seat. And it is horrible news for our long term economy as it is digging our debt hole even deeper, which results in #hyperinflation.

What to expect is #mortgage interest rates should continue to slide down. Add that to human emotion (not common sense) and buyers will hold out waiting for the bottom which reduces the demand. With home purchasing demand down, inventories of existing and new homes will rise. So, expect home prices to slide too.

*Now Listen to me!!!!!!!  Call me Paul Revere as long as you will listen.
Common sense says... Need a home? Buy a home now. Prices are low and it's a buyers market! Interest rates are low too! So, buy now!

If you are planning on #buyingahome and you are thinking you'll wait for the bottom. Don't!! It will change without warning and you won't have time to grab it. Home prices and interest rates are in a dip. The last dip before the rocket launches!!! Last March and April was a sample of what to expect. Rates jumped 1% and house prices jumped 10% and in less than 30 days!

If you are financing this home purchase, do it now! Rates could drop a quarter of a percent, but when the bond buying stops, and it will, the rates will jump by at least a half percent or more then climb until you can't afford a home. You'll be talking about the home you could have bought, because you thought you could beat the odds of about 27,600,000 to 1!

This is what you are risking by holding out.
$250k mortgage at current rate is $1244 mo
$250k mortgage at current rate minus 1/4% $1208 mo (gambling by waiting for the bottom)
$250k mortgage at current rate plus 1/2% $1356 mo (gambling 1 day too long)
This is not considering the 10% price increase we also saw. If history repeats itself, it would look more like this..
$275k mortgage at current rate plus 1/2% $1493!
So you are gambling to save $36 month at the risk of loosing $249 month! Over 30 years, that's only an $89,640 mistake!
It's not gambling, it's #Russianroulette!!

If you are paying cash for a home, do it now! It's still a buyers market.

Whether your are paying cash or financing, now is the time. Stop playing Russian Roulette!!
Call me now and let's get to work!

Thank you
#CurtisRudolphRealtor®
813.240.6054 cell/text
http://CurtisRudolphRealtor.com/
https://www.facebook.com/SouthTampaLuxuryProperties
http://curtisrudolphrealtor.blogspot.com/
Realty Direct Tampa

*Note: Do not buy because I said so. Always consult a financial adviser when considering real estate as an investment. We live in an imperfect world, where do-do happens.

Is Zillow® like The Roadrunner and Wile E. Coyote?

Zillow® is an amazing real estate tool! It is user friendly, it is extremely informational, it is easy on the eyes, and there appears to be an infinite number of listings. But, I've always wondered why Zillow® listings are so jacked up. Zillow® has so many listings that are non-existent, expired, rented or sold. Is it Zillow's® fault?

I believe I may have found the answer. These listings may be The Roadrunner and if you are looking, you are Wile E Coyote!

A couple days ago I received a group of condo's to check out on behalf of my client. We have been working together on finding he, his wife and son the perfect condo for a couple month's, and it's down to decision time. He sent me about 18 addresses he found on Zillow®. Most we had already seen before and I had some in his maybe file, but a couple were new and only on Zillow®.

After going over his list of condo's for rent, I noticed something. About half were on Zillow® only. The other half were on both Zillow® and the MLS®. I also noticed, 8 out of 10 Zillow® only listings, were listed with a Realtor®, yet I couldn't find them on the MLS®. There was 2 listed by the owners of the properties and not with a Realtor®.

I wondered why 8 were on Zillow® with a Realtor® and why they were not on the MLS® too?

I researched the Zillow® only listings first. What I noticed is the 8 condo's that were on Zillow® and not on the MLS® were either expired, rented or sold. The 2 listings by the owners and all the MLS® listings, were truly available for lease. 

So you say, "Whatever, they just didn't get removed yet". Great answer! Seems logical, but some of them were "just listed"! 

Is Zillow's® computers randomly doing this to make Zillow® look like a larger data base?

Which of these 2 causes are most logical? 

1. Computers make up data 

2. People sometimes input data incorrectly.

If you choose #1, please turn off your computer. You don't deserve to own one! 

Let's consider #2. After completing a rental or sale, could someone accidentally input the entire listing over again by accident? If you say yes, please turn off your computer. You don't deserve one! 

So, why would there be so many freshly posted listings put into the Zillow® system that are expired, leased or sold?

                         I'll use a quote from Rush Limbaugh. "Follow the money".

The MLS® system is heavily regulated. The data must be entered correctly and timely. If an error is discovered or a property goes under contract, the MLS® has this very strict protocol. If an error is found or change in status is needed, and it is not corrected extremely fast, the listing agent will receive a fine. If the request is not followed, or it happens several times, the Realtor® could loose access to the MLS®

Zillow® has you check a box that says you agree that the listing is real and does not have such strict adherence requirements.

Consider, if you owned a property and you sold it, wouldn't you want to remove the listing, so that you wouldn't have to keep answering the phone and explaining it's sold? Would a real estate agent feel the same way?

Earlier I mentioned, some of these sold, expired or leased listings were "just listed"! Is it just a coincidence, that these "just listed" listings were at popular condo's and priced below market too?

I'm not pointing any fingers, but I feel that Zillow® might be being used for the classic "bait and switch"! For a real estate agent, this may be considered acceptable. But for a Realtor®, this is forbidden. We are to hold to a set of standards that rise above this deceptive practice and hold to the highest standard of integrity. 

This situation is causing consumer anxiety. Buyers come to me exasperated, saying they just keep missing the greatest deal. The "greatest deal" was the Roadrunner and you are Wile E. Coyote! Wile E. never gets the bird. Quit being Wile E. Coyote! Hire a Realtor®!

If you are in the market to buy, lease or sell a property, seek the help of a Realtor® like me!

Let's get to work!

Curtis Rudolph Realtor®

www.CurtisRudolphRealtor.com

www.Facebook.com/SouthTampaLuxuryProperties

Realty Direct Tampa

Was the "Great recession" the final nail in the middle class coffin?

Mortgage interest rates are dropping, as predicted. But I'm not seeing home prices do the same. What's up?
Is it because...
1) the government shut down?
2) Is it all the housing lift programs are creating artificial value?
3) Is it people are not hungry enough?
4) Or, is it the final nail in the redistribution of wealth, also known as, our disappearing middle class?
1* It's too early to know if it relates to the government shut down, so let's eliminate that.
2a Is the non-existent housing price drop due to all the lift programs?
Let's relate the housing industry to the car industry. Example: Hybrid and Electric cars. The government put's up cash as an incentive to buy these green vehicles. The manufacturers, raise the selling prices, because the psychology is like a coupon. It's perceived as free money, which creates demand. The artificial demand allows the price of the car to go up.
2b So, where did the money come from and where did it go?
The incentive money came from all of us, the tax payers and the money went to the manufacturers. The manufacturers use the added revenue to celebrate their success and give bonus' to the top wage earners for their accomplishment. (Did you notice the prices of these vehicles are not going down?)
3a Is the non-existent housing price drop due to sellers not being hungry enough?
Let's relate this to the bank bail outs. Banks make stupid loans and our government gets mad at the banks and gives them the cash to take care of any shortages.
3b So, where did the money come from, for the bail out and where did the money go?
The money came from us, the tax payers and the money went to the banks. The banks use the money to buy back the foreclosed houses at a reduced rate, of course. They restructure the banks due to the changes in revenue and give big bonus' to the top executives for reducing costs!
4* Is it the next step in the redistribution of wealth?
Absolutely it is a sign of the redistribution of wealth!
The tax paying middle class was removed from their homes and these homes got sold to the wealthy.
During these years of "The great recession", only the middle class was hurt. The rich gobbled up all the houses from the middle class as they lost their jobs. The middle class is now renting from the upper class, as they now own nearly all the houses.
As the middle class attempts to step out of renting and get back into buying again, the rich hold all the houses. Do you remember the game Monopoly®? Who won? Those who owned the houses and hotels. The wealthy don't need the money, so they sit on the house or rent it out until someone is willing to pay them, what they want.
In my opinion, we have a short window of time to keep middle class alive. Take advantage of this these incredibly low interest rates and buy a home now. I don't see an opportunity like this in our lifetimes. If we loose middle class, we all lose. The bible says, The borrower is slave to the lender!
Come on middle class, Let's get to work!
Curtis Rudolph
www.CurtisRudolphRealtor.com
www.Facebook.com/SouthTampaLuxuryProperties
Realty Direct Tampa
Note: I am not a financial advisor, just a Realtor®. Never make a decision to buy a home without seeking the advice of your financial consultant.

Tampa Real Estate condo owner sues City of Tampa for...

I just read an article written by Richard Danielson, from the Tampa Bay Times of a condo owner at Skypoint who is allegedly suing the City of Tampa for allowing growth. The article says the claimant's view will be disrupted by a new planned downtown tower.
I realize you can sue anyone for any reason, but for growth?
As I understand it, the new Residences at the Riverwalk development will allegedly block his view of the river. This new 400 foot tall tower is planned to be built next to the David A. Straz Jr. Center for the Performing Arts near the corner of Tyler and Cass Street downtown. The claimant says the new tower will be 600 feet from his window.
Can one man stop the wheels of Tampa's progress to being the great city she can be? Isn't the view of the downtown buildings one of the attractions to these high rise towers? I'm currently working with 3 buyers for this area. One wants water view, one wants skyline and the other wants both. I don't see the new tower affecting the condo's value, possibly improve it. More residences, creates more life, which creates more demand, which creates higher property values.
The area just to the north of Interstate 275 on the Hillsborough River, across from Howard W. Blake High School is yet another area that is slated for new development. Can we expect more complaints to block this  progress too?
All major cities have downtown life beyond 8am to 5pm, Monday through Friday. Tampa's downtown area has been dormant for years. The Franklin Street Mall was one of those attempts from yesteryear to give dowtown, life beyond weekdays.
With all the new residences in Channelside, Harbor Island and throughout the downtown area, the city is creeping back, to the glitz and glamour it once had back in early days when trolley cars moved the masses to Maas Brothers, Wolf Brothers and Wool Co.
The Residences at the Riverwalk project does not have a planned start date at the moment, but will not begin before June 2014.
Will the claimant succeed? Will he be paid to be quiet? Will this wake up more claimants and send this and other projects to Tampa tried file?
Come on Tampa! Speak up and let's get to work!
Curtis Rudolph Realtor®
www.CurtisRudolphRealtor.com
www.Facebook.com/SouthTampaLuxuryProperties
Realty Direct Tampa

Mortgage interest rates drop along with home values...

The move made by Ben Bernanke a couple of weeks ago to keep the bond buying going caused home values and interest rates both to drop. This recent action taken by the Fed to continue the bond buying will cause supply and demand to regain balance.

This move will give the average home buyer an opportunity of a life time to buy a home at a historically low interest rate and price.

In a normal economy, lowering interest rates, stimulates buying. However, mortgage interest rates have been so low for so long, it created home stagnation, which perpetuated all the toxic loans. No one was buying homes, waiting for the bottom in home values and the bottom in mortgage interest rates. This allowed the inventories of homes to exceed demand, resulting in prices dropping to these historic lows.                 .  

I think the Fed realized the negative impact they made last spring, on our weak economy. Just the mere mention they were considering haulting the bond buying program created mass hysteria. Fed bond buying is a way to put cash in the public hands to spend, in essence to boost our capitalistic economy. The dark side of this procedure is inflation. Every dollar printed and put into our economy divides the value of each dollar.

Though I believe the Fed made a wrong decision, I embarrassingly, welcome it. The notable mention of haulting the bond buying, caused interest rates to spike up around 1%! This caused a real estate buying frenzy that mirrored the likes of a shark in blood infested waters. Prices were entered into the MLS like an auction opening bid and homes were selling well above asking price in a day or two. The average home buyer was kicked to the side as institutional buyers came out of every crack and crevice and dumped billions of dollars in cash into real estate, gobbling up supply. When demand for homes exceeded supply, home values jumped. According to the NAR, 12% in July alone and 20% up from only a year ago!

Don't read me wrong, the QE3 bond buying needs to stop, or we'll have inflation that will give us third world status. But the change should be slowly phased in so that middle class Americans can bite off a piece of the American Dream pie and grab some of the quantum leap equity that only those willing to take the chance now will enjoy.

If you are in the market to buy a home at a historically low price and interest rate, now is the time! When the free money ends, there will be no turning back.

Curtis Rudolph Realtor®
www.CurtisRudolphRealtor.com
www.Facebook.com/SouthTampaLuxuryProperties
Realty Direct Tampa

Note: Please consult your financial adviser before considering real estate as an investment.

Flood insurance rate hike causes massive beach home...

The new flood insurance law goes into affect October 1 unless there is an 11th hour stay of execution. Signed in 2012 was the Flood Insurance Reform Act. This law eliminated the government subsidies put in place to make flood insurance more affordable. 

The media says the new law will drive beach home prices up!

What?

How does the increase in flood insurance premiums of an estimated ten fold, drive up home values?

What I do see is the little Ma and Pa beach cottages and houses, that line our beautiful Florida beaches will go bankrupt. And the investment heavy, high rise motels and hotels will have a monopoly for beach tourism and pass the new hefty profit bill to you!

I am advocate for smaller government and let the free markets be free, but this type of change should have been better planned. It's like being rear ended by a car doing 100 mph and you are only doing 10. This is a serious accident.

Just saying!

Curtis Rudolph Realtor®

www.CurtisRudolphRealtor.com

www.Facebook.com/SouthTampaLuxuryProperties

Realty Direct Tampa