A RISING TIDE LIFTS ALL BOATS

By
Real Estate Agent with Re/Max Professional Associates 74203

 

This idiom, coined by John F Kennedy, describes the idea that when an economy is performing well, all people will benefit from it.  The rising home values, according to CoreLogic, have helped 1.3 million homeowners lose their "under water" status.  That is great news but still a long way from helping all under water home owners.
There are still 10.8 million home owners under water. Nevada (59%), Florida (43%), Arizona (40%), Georgia (36%) and Michigan (33%) are the top five.  If we can have values rise 5% then another 2 million home owners will slip the shackles of negative equity.
It is important to remember the real estate is a finite product.  Supply will not satisfy demand in the near future.
 
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Rainmaker
94,655
Wayne Long
Columbus Ga Real Estate, LLC - Fort Benning - Phenix City - Fort Benning, GA
Homes for Sale In Fort Benning Ga
I think we all feel that a lift is happening. In our area higher priced homes are beginning to sell again.
Sep 18, 2012 03:37 AM #1
Rainmaker
647,439
Wayne and Jean Marie Zuhl
Hallmark Realtors - Clark, NJ
The Last Names You'll Ever Need in Real Estate

Good morning  - Those numbers form Nevada and Florida are huge! In our neck of the woods, prices haven't risen but the demand has increased so we're starting to see a smaller (not small, just smaller) inventory. Only good things ahead!

Sep 18, 2012 03:41 AM #2
Rainmaker
1,032,803
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Great news Wayne.

Keep the good news coming Jean & Wayne.

Sep 18, 2012 03:46 AM #3
Rainmaker
1,365,265
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Short Sale - CDPE, REDS

   We are already seeing neighborhoods where the demand exceeds the supply...multiple offers...over asking...love it !

Sep 18, 2012 03:54 AM #4
Rainmaker
881,665
Wayne Martin
Michael Saunders & Company - Sarasota, FL
Sales Manager - New Homes & Condominiums Division

Conrad, we have a long way to go in Florida but we are making progress. We are beginning to see multiple offers and rising prices in the lower end categories. Also, new construction is beginning to take hold and labor shortages are  becoming an issue!

Sep 18, 2012 03:58 AM #5
Rainmaker
1,083,711
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Conrad - IMHO * if they don't have a JOB and can't pay their MORTGAGE NOT being underwater just offers them LESS options if they need to sell....

Sep 18, 2012 04:05 AM #6
Rainmaker
1,433,057
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Yeah, still too many homeowners under water................

Sep 18, 2012 04:25 AM #7
Rainmaker
1,032,803
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

That is great Sally & David.

At least is has started Wayne.

We need employment numbers to rise Wallace.

Way too many Roger.

Sep 18, 2012 04:41 AM #8
Rainmaker
1,064,698
Lisa Von Domek
Lisa Von Domek & Associates LLC, Real Estate Broker/Associate with Real Living Real Estate Group www.LisaVon.com - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Good morning Conrad,

And still the media doesn't talk about the positives...which doesn't make sense since they want the current Administration to stay in Washington.  You would think they would be shouting all day long about anything positive right now!

Sep 18, 2012 05:57 AM #9
Rainmaker
446,816
Gay E. Rosen
Houlihan Lawrence - Larchmont, NY
Honest, Hardworking and always Professional!

Hi COnrad -   Mortgage rates are unbelievably low..a  great time to buy... there will always be people who need to selll whether for retirement, illness, relocation of they are under water... but at the end of the day people need jobs in order to purchase..

Sep 18, 2012 06:20 AM #10
Rainmaker
1,032,803
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

The media is a mixed bag of liberal beliefs and actions Joy.

That is the bottom line Gay.  As Biden said a three letter words - jobs, jobs, jobs.

Sep 18, 2012 09:58 AM #11
Rainmaker
1,064,698
Lisa Von Domek
Lisa Von Domek & Associates LLC, Real Estate Broker/Associate with Real Living Real Estate Group www.LisaVon.com - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

So true Conrad, so true...catering to the current Administration - which is why none of the mainstream media seems outraged by the fact the President Obama didn't have time to meet with Mr. Netanyahu, but had plenty of time to fly to New York and be on Letterman.

Sep 19, 2012 02:07 PM #12
Rainmaker
94,655
Wayne Long
Columbus Ga Real Estate, LLC - Fort Benning - Phenix City - Fort Benning, GA
Homes for Sale In Fort Benning Ga
Ok I agree with jobs, jobs, jobs. But.....we need private sector jobs instead of government created jobs!
Sep 28, 2012 05:21 AM #13
Rainmaker
1,032,803
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Just frustrating and so wrong Lisa.

Well said Wayne.

Sep 28, 2012 08:10 AM #14
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Rainmaker
1,032,803

Conrad Allen

Webster, Ma, Realtor
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