Start Your Engines.... The Mobile One 12 Hours of Sebring is Here

Our small town of Sebring, Florida is all the buzz in the World Famous Lemans Racing, we host the 12 hours of Sebring, this event kind of puts us on the map so to speak. It is like our Marti Gras and NASCAR all rolled into one. Over 100,000 people travel from all over the world watch this main event, it is a 3+ mile track made for endurance racing. Audi has won the past 4 years or more and have really ruled this event. Last year at the very end was one of the most exciting finish line dramas I have ever witnessed.

At the same time as the formula one cars are racing on the same track so are 2 other types. One being Porsche, and last year at the end a Porsche "rubbed" the other within 1/2 mile of crossing the line to be the winner. Now I am from the south so "rubbing" is a NASCAR term and the practice is totally acceptable, it is not so in formula one. I found that out last year, but it made for an exciting ending. Sebring races have been long traditions in many families, coming and camping out, some make it like their Spring Break. We have events all week long. Last week we had the classic vintage cars racing. Actually last Thursday the Sebring Chamber Of Commerce hosted an event on the Historic Sebring Circle, and all of the cars came to the downtown circle (from the track) and we had all you could eat beer & brats for $10. Great time was had by a lot of people.

Now the main event takes center stage. The engines are running all week long. Our little community does benefit from this event, of course it brings in tons of tourist & that of course economically helps our local economy. The hotels are booked for the next two weeks and some folks book them for at least one year if not more prior to the event. People are renting out their homes to accommodate drivers, their staff & race fans!

The race track has a main midway where many set up their tents for futuristic car displays, Hawiian Tropic host a beauty event & volleyball game. It totally becomes an event not to be missed! The excitement runs through the community like a fever. Everyone talking about where they are going to set up camp to watch the race and the fans! Most times you do not know a race is going on, there are tons of people walking and riding around visiting one another like a huge party is happening all around. I like watching from my living room so that way I can really watch the race and float in my pool. (in March wow, don't you want to move to Florida???)

Happy Selling!
Dawn Dell, Dell Realty
Broker/Owner
863-381-0400
www.sebringfloridarealtor.com

"Correction Curve"

The housing market is going to experience what I am calling the "Correction Curve", think about it, what the bank will finance is really what the market will bear, unless we have a frenzy market again and CASH buyers inflating the market (that is a whole other subject coming soon), if the a property is being purchased with a mortgage, then the bank requires an appraisal. An appraisal is really only ones opinion with a calculation of other factors. These main factors are other sales with in the market area and homes that are close in comparison to square footage and actual year built.

Right now in this market there are foreclosures closing, investors getting out of a bad investment at any cost to save their credit, short sales and true sales at true market value. Once these properties close and is recorded these are then used in the calculation process of an appraisal for a loan. Even if a purchase for contract has been accepted by buyer and seller at a price higher than the appraisal the buyer has a "loop hole" out of the contract in the financing clause. Property must appraise at mortgaged value, so make sure when writing an offer on a property to consult with a professional Realtor on how to get you out of the contract if it does not appraise at full purchase price (again another subject for another time, coming soon).

Once several properties have closed at lower than market value the values in general decline and in an inflated market this will create a correction of price therefore "Correction Curve." What this can mean to you as a seller, you should absolutely consult with a professional in your market place and get a fair market value. If you really want to sell, I am finding there are buyers at the right price, but if your intention is to "test the market" or "fish for a buyer" than now is not the time to put your home on the market (unless of course it is priced at fair market value). Marketing your home with a professional is only to your advantage. Use their expertise and also, it literally cost you nothing unless the home is sold.

Now for the buyers, I have mentioned this before, never has there been a better time to buy (of course except to prior to 2003), buyers are getting great interest rates, a huge inventory to pick from, and now the "Correction Curve" price is all in your favor of being able to buy a home at a better than fair market price. So.. if your looking to buy or even do I dare say INVEST, go for it. Get with a Realtor and start looking at the market and making offers, you never know what might be accepted.

Feds Reduced Rates

Feds reduced to the rate ½ percent, that is a whole 50 points। WOW! Just be careful when talking with a qualified mortgage broker, ask what their rates were just prior to the rate decrease, make sure basically that they are not “padding” the interest rate and you are getting the best they have to offer. Remember this could equate to literally thousands (tens of thousands) at the end of the day. So be smart and educate yourself, use someone that is recommended to you, that way you know that person had a personal experience and it must have been good for them to recommend them.

With the rate being reduced Wall Street of course reacted, positively I might add. We as Americans need to gain control of our own economy. The press is ruining our confidence. We should not allow them to continue to feed us with negative press, and if it has not happened then they continue to report on it basically until it does happen. For instance, you hear a song on the radio, do not really like it but the DJ continues to play the song, finally it sounds familiar and then next thing you know your humming with it and know the words and then you even want to hear it when you turn on the radio. This is how they “brain wash” us. If it is not bad news basically it is no news. Now the flip side to this, since I am the forever optimist, once they (the press at large) conquer whatever their AGENDA may hold, (and you can bet there is an agenda) they quickly move on to another “problem” we may have, or “need” to have??? When the market was GREAT, remember they kept telling us the BUBBLE was going to burst, now 2 ½ years later, it burst, but that is not enough, now it has to “HIT BOTTOM”. These are the new “trigger” words I am hearing out there. But.. Sellers are getting smarter and reducing their prices, if they want to sell. Buyers have the best of all the worlds, sellers reducing prices, interest rates dropping and a few dozen or so homes that would perfectly fit their needs, just location should be the issue, as it use to be in the old days of real estate, location, location, location. So if you are in the market NOW IS THE TIME TO BUY!!!

Next up picking a Realtor। And remember to “Buy or Sell… Call Dawn Dell”

Dawn Dell

Dell Realty, Broker/Owner

2006 REALTOR OF THE YEAR

863-385-8822

www.dellrealty.net