The Biggest Real Estate Slowdown will soon be upon us!
Posted in the Real Estate Forum
Since: May 08
#1 Jun 30, 2011
update:BY BROKER:JIM TURANO WITH 31 YEARS OF REAL ESTATE EXPERIENCE
LOCATION:MIDDLE VILLAGE QUEENS,NY 11379 *SERVICING GLENDALE, RIDEWOOD, MASPETH, HOWARD BEACH, REGO PARK AND FOREST HILLS AREAS.
REDFIN ARTICLE:June 30, 2011 "Home prices stabilize" article. Yes in the areas of Middle Village, Ridgewood, Maspeth, Glendale, Howard Beach, Houses have stabilized. But the real problem every buyer faces today is non other than the
'BANK'. How can the economy improve if banks are denying mortgage loans and now being more strict than ever before. After being in the Real Estate Business for 31 years to date, houses are coming on the market at a faster pace with plenty of foreclosures in the rear. Howard Beach for example has ten Condo's within the same building for sale all at the same time. Brokers discuss with me, how they are entering contracts only to find out their clients are being denied later on. Here is an opinion from an expert in the Real Estate Business from Jim Turano. Redfin can document today as I write this Blog, when the rates start skyrocketing by next spring, you will see not only in Queens, but the entire United States, a complete *4* year slowdown in the Real Estate Industry. Thanks to the Debt we have in America, and for the Banks, they will have to find a new way of doing business other than selling mortgages, because there will be 'no future' mortgage business.
AHEAD OF THE CURVE, AND SELLERS WILL BE IN A PANIC FOR SURE.
THIS IS REALITY, AND A WIDESPREAD CANCER OUT OF CONTROL THAT WILL REALLY GET WORSE! I REMEMBER IN THE EARLY 1980'S WHEN RATES WERE
17% FOR MORTAGES. AND THERE IS NO THESE CURRENT RATES WILL BE AT THE 4.5-5% LEVEL BY NEXT SPRING. THE DEBT IS A MONSTER THAT WE WILL ALL HAVE TO DEAL WITH.
AND THOSE HOMEOWNERS TRYING TO SELL ON THEIR OWN, WHO WON'T COME DOWN, WILL BE CAUGHT IN THE AFTERMATH OF A HUGE SLOW DOWN.
YOU HEARD IT HEAR ON TOPIX.
SPRING OF 2012 BEGINS THE 'BIGGEST SLOW DOWN IN REAL ESTATE HISTORY'
JIM TURANO/BROKER*DIVERSE REAL ESTATE*MIDDLE VILLAGE,NY 11379
Since: Sep 08
#2 Jul 1, 2011
agree with you. You are ahead of the curve. Brilliant!
When you posted the upcoming additional tax for sellers coming in 2013,
hidden in the Obama Health care Bill, I thought that was crazy. But through research I did find out that you were 100% correct. An extra 3.8% closing costs for sellers scheduled in 2013.
Now you latest article is realistically 'Dead On'. Years ago you stated that at that time, Banks were giving out mortgages even if you were in an ICU unit at any Hospital. And today, they tell you that they get get you a mortgage,
you pay either the application fee, or appraisal fee, and 2 out of three applicants are getting turned down after going to contract. And in many cases with 20% down payments.
After seeing the same for sale signs on houses for over 6 months, you think it is just the owners fault. But it is equally the Brokers fault for not being forthwith in a hands on professional manner. If the owner doesn't realize that they can not get their prices and won't adjust downward, it is the
Brokers duty to release their exclusive listing. Instead they leave their sign displayed for callers, and attaining new clients. Real smart, when it is getting to the point of over saturation of clients and not having properly priced homes to sell & make a commission on.
And the owners who want to avoid a real estate, price their homes higher than a real estate in general. But buyers are not ignorant. They see more homes than some of the hundreds of agents who work at Real Estates.
The Clock is ticking.......If Brokers do not insist on pricing, adjusting asking prices, and homeowners do not price their home or adjust their prices,
they will all be left in the dust come the end of this year.
Congratulations Jim Turano for a very informative insight of the upcoming
Real Estate Slowdown in 2012. In addition you may also be right on about the length of time as well,'for 4 years'.
Your articles all over the internet, are real interesting, and the fact that for over 10 years, you have been an invited guest at the Middle Village Property association, to speak about current Market conditions only confirm your expertise. You are an asset to the Community, Sellers, and buyers, giving the right advise for so many years.
July 1st.,2011 GOOD JOB ONCE AGAIN' JIM TURANO'
SOME OF US ACKNOWLEDGE YOUR EXPERTISE & APPRECIATE IT.
P.S. ENJOY THE 4TH OF JULY WEEKEND!
Since: May 08
#3 Jul 8, 2011
blog EDITORIAL RE: REAL ESTATE BY JIM TURANO
date:JULY 8TH, REAL ESTATE -VOICE OF THE EXPERIENCED BROKER IN MIDDLE VILLAGE,NEW YORK 11379.
BY SEASONED BROKER-JIM TURANO OF *DIVERSE REAL ESTATE* MY OPINION!
ALMOST COMPLETING MY 32 YEAR IN THE REAL ESTATE BUSINESS IN MIDDLE VILLAGE, WHERE MY OFFICE IS LOCATED, I ALSO SERVICE GLENDALE, RIDGEWOOD, MASPETH, REGO PARK, & FOREST HILLS. I HAVE SEEN MUCH IN 32 YEARS BEING IN BUSINESS. I WAS THE FIRST IN QUEENS NEW YORK TO ADVERTISE BACK WHEN ON CHANNEL 1, THE REAL ESTATE CHANNEL SHOWCASING 6 FEATURED HOMES PER HOUR 7 DAYS PER WEEK. PAST PRESIDENT OF THE KIWANNIS CLUB, LIONS BUSINESS CLUB, PAST VICE COMMANDER OF LUKE J.LANG VETERANS ORAGANIZATION, I HAVE MET MORE RESIDENTS FROM MIDDLE VILLAGE, GLENDALE, AND MASPETH THAN MOST BROKERS DUE TO MY COMMUNITY INVOLVMENT, & IN ADDITION, I WAS THE FIRST BROKER TO GO CENTURY 21 IN MY COMMUNITY. MANY PEOPLE FROM WITHIN THE COMMUNITY KNOW ME WELL, SINCE I HAVE TRAVELED UP AND DOWN BLOCKS FOR THE PAST 32 YEARS. IT HAS BEEN A GREAT EXPERIENCE FOR ME AND I STILL TRULY LOVE THE REAL ESTATE BUSINESS. I HAVE SEEN MANY CHANGES, UPS AND DOWNS, LOW AND HIGH MORTGAGE RATES, BUT I HAVE BUILT MY REPUTATION THE OLD FASHIONED WAY BY EARNING IT. THE REAL ESTATE MARKET IN GENERAL HAS PICKED UP THIS YEAR, AFTER 2 YEARS OF A DOWNTURN. WHAT PUZZLES ME TODAY, AND NEEDS TO BE DISCUSSED IS THE RELENTLESS PHONE CALLS, AND E-MAILS LIKE A SWARM OF LOCUS, REGARDING THE EXIT REALTY FRANCHISE. I HAVE NEVER BEEN SO HARRASSED IN MY LIFE BY THE PUSHIEST SALES AGENTS RESEMBLING MOSQUITOS. WHY AM I BRINGING THIS UP RIGHT NOW? SIMPLY TO SAVE AGENTS FROM JOINING WHAT IN MY OPINION, IS NOTHING MORE THAN A RECRUTING FACTORY OF SALES AGENTS. PROMISED THE BEST TRAINING, RESIDUALS, RAH! RAH ! RAH! BRAINWASHING IN CONTINUING TO RECRUIT OTHERS WHILE MAKING UNBELIEVABLE COMMISSION SPLITS TOO.
A WAREHOUSE FULL OF AGENTS, TRYING TO ALWAYS GET OTHER AGENTS IN WHAT I CALL A PYRIMID SCHEME SORT OF. THERE ARE SUCKERS BORN EACH DAY, AND MANY AGENTS FROM LOCAL AREAS, ARE SWAYED TO DREAMS OF FINANCIAL WINDFALLS OF INCOME. THIS IS OF CONCERN TO ME, BECAUSE WORKING WITH A TREMENDOUSLY EXPERIENCE BROKER, WHO IS HIGHLY RESPECTED BY THE PROPERTY ORGANIZATION, THE CITY COUNCILWOMANS OFFICE, THE STATE SENATORS OFFICE, AND COMMUNITY ORGANIATIONS ALONG WITH A STABILE CAREER OF 32 YEARS WITHIN A COMMUNITY IS MORE VALUABLE, THEN WHATEVER THIS CHAIN NAMED EXIT CLAIMS THEY CAN DO FOR NEW AGENTS.
THIS IS MY OPINION, AND MY EXPERIENCE CAN BE CONFOIRMED BY GOOGLING MY NAME.
P.S. GOOD LUCK TO ANYONE WHO JOINS EXIT REALTY. MY WAY IS SELLING,RENTING APARTMENTS,STORES, MIXED USE SALES, AND TAX PAYERS. THATíS THE REAL ESTATE BUSINESS.
NOT RECRUITING OTHERíS, AND WORKING WITH SO MANY AGENTS, OUT OF THE AREA YOU RESIDE IN.
THE AMWAY OF REAL ESTATE. REMEMBER WHAT SOUNDS SO GOOD TO BE TRUE,
MAY BE JUST THAT, PLENTY OF SMOKE & MIRRORS. IT ERKS ME THAT HUMAN BEINGS(SALESPERSONS) BELIEVE THAT THERE IS GOLD IN THEM THERE HILLS. GOOD NEIGHBORHOOD BROKERS THAT HAVE BEEN IN AN AREA FOR DECADES GETS REFERRALS LIKE CLOCKWORK. APARTMENTS, FRIEND OF A FRIEND SELLING, WALK-IN BECAUSE OF CONVENIENCE. I HAVE TRAINED OVER 200 SALES AGENTS IN 32 YEARS. MANY DID WELL, SOME MADE PLENTY OF MONEY INVESTED IN REAL ESTATE & ARE NOW RETIRED, AND SOME OPENED THERE OWN PLACES OF BUSINESS. BUT I GUESS THERE WILL ALWAYS BE A GIMMICK TO CATCH THE NAIVE. ANYWAY, YOU HAVE TO LEARN FROM EXPERIENCED BROKERS AND SACRIFICE THE TIME. EARLY MORNINGS, LATE EVENINGS, HAVE YOUR OWN CAR FOR YOUR APPOINTMENTS, AND STICK TO YOUR GAME PLAN.
GOOGLE/JIM TURANO/BROKER JULY 8TH, 2011
Since: Sep 08
#4 Jul 12, 2011
agree, plus I know with your experience, your reputation, and how you are in the trenches with your sales agents,day after day, agents couldn't work with any better professional broker than you.
After an agent works with you, and if they go elsewhere, after 1 year or 2, they will never get the assistance, or a broker who will go the extra mile like you have done for others. Sometimes people think the grass is greener on the other side. You happen to be an acceptable Broker, well respected, and anyone who thinks they can go elsewhere and do better, is in for a big surprise.
They see when it hits their pockets.
Their loss if anyone leaves your company.
They will regret it.
P.S. One person less you won't have to drive around day and night.
Since: Sep 08
#5 Aug 6, 2011
real estate news update:AUGUST 6TH, 2011 BY JIM TURANO/BROKER OF
DIVERSE REAL ESTATE, IN MIDDLE VILLAGE,NY 11379.
AHEAD OF THE CURVE ON JUNE 30TH I POSTED THE ORIGINAL ARTICLE REGARDING THE BIGGEST SLOWDOWN IN REAL ESTATE WILL BE UPON US.
The debt crisis is in intensive care, along with the stock market these past 5 days. With 31 years of experience, in the Real Estate Industry, I was the only Real Estate Broker in New York State to step up to the Plate and post on
TOPIX my expert opinion for all to read. Now they are speaking about another recession. Well so much for the working people trying to survive another day.
Has anyone seen this Country in such a mess like this ever? My mother went through the great depression, and many experienced the hardest of times back when. But today, in 2011, with seniors living at 89 years of age and older, rising home taxes, increased water/electric bills, a freeze on social security cost of living expenses, increased food prices, tolls, fare increases, and medical bills, what will be the end results for our seniors, our families, and our children? What is the Hope for our future? Where is the positives to hold our heads up and have faith?
Yesterday for the first time ever, they lowered the United States ratings as you can read and see all over the business web sites.
Here is a funny thought for all Americans to break up the current anxiety, stress, and fears for just a brief moment.
We took away and also bought for peanuts from the American Indians
most of the United States. Yet today the American Indians are doing better than the United States Government financially because of the Huge Revenues from all their Casinos across the Country.
Since 911 if you follow the sequence of events up until today, it is like a written script from a Movie. Coverups, scandals, swindles, with Banks, Brokerage houses, Politicians, CEO'S of Investment Houses, Oil Companies,
hedge funds, etc.etc..
Let us not leave out our President elect, Mr.Obama, Congress, and government. Bailouts given like no tomorrow, and the biggest foreclosure rate in history, along with lots of unemployment to put on top of the Cake that we have before us today.
Lastly, how many individual pensions have been lost? To say the future of America looks Grim is a mild statement. What are the solutions?
Do we need Radical changes? In my opinion yes. But Hope in the Eyes of all Americans is slowing changing into fears. A society of anxiety with stress.
Buying a Home was an American dream now turned into a nightmare.
In the past 5 years Divorces have tripled in America due to just financial problems. I wonder is it me or is it most Americans who go to the Gas station and put $10 dollars to $20 dollars of gas in their tanks today?
Only a small percentage can drive up and say fill it up!
Survival can cause an epidemic of more corruption than ever before in this Country.
Let us see where we are in the next 60 days from now. Until then try and keep the faith. It sure isn't easy, but God help us.
JIM TURANO/BROKER*DIVERSE REAL ESTATE*MIDDLE VILLAGE,NY11379
Since: Jul 11
#6 Aug 6, 2011
this is why I chose to work at Diverse Real Estate.
31 Years of Real Estate Experience, Reputation, and a Community minded neighborhood Realtor.
08/06/11 TOPIX REAL ESTATE NEWS!
P.S. YOU ARE A PROFESSIONAL EXPERT & GLAD TO BE ON YOUR TEAM.
Since: May 08
#7 Aug 8, 2011
more news regarding Real Estate...August 8, 2011-on 60 minutes last night.
All the foreclosures in the United States, that have been completed to date, and now all the 1 Million more this year, by more than a Half dozen Banks been, have been completed by forged documents. Go read and check it out on 60 minutes site.
Worse than Organized crime, the banking industry, CEO'S, and their affiliates hired to have the papers notarized, after forged signatures of alleged Vice Presidents and Presidents of Banks were placed on each document.
COVER UPS, FRAUD, AND BAILOUTS TO MANY BANKS, BROKERAGE HOUSES, ETC., IN THE PAST 3 YEARS, CONTINUES TO FEED CRIMINAL ACTIVITY IN THIS COUNTRY. LEAVING THE AMERICAN PEOPLE, WITHOUT WORK, WITHOUT HOMES, AND FIGHTING TO KEEP THEIR HOMES. THE ONES WHO ALREADY LOST THEIR HOMES, HAVE BEEN VICTIMIZED TO ABSOLUTE FRAUD.
BREAKING UP FAMILIES UNNECESSARILY THESE PAST THREE YEARS, THROUGH DIVORCE, AND EVEN NOW WHILE MANY FACE FORECLOSURES TODAY, IS AFFECTING MANY MARRIAGES TO BREAK UP.
VIRTUAL NIGHTMARE! THE AMERICAN DREAM!
SHOCKING TO SAY THE LEAST, BUT THIS WILL ALSO FUEL THE BIGGEST SLOWDOWN IN THE REAL ESTATE MARKET IN THE UPCOMING MONTHS.
AUGUST 8TH, 2011 TO BE CONTINUED!
JIM TURANO/BROKER*DIVERSE REAL ESTATE*'AHEAD OF THE CURVE'.
No wonder why crime is going up, and soon as I stated two years ago, the people/citizens of America will take to the Streets. How much more can Americans take? Trust in the President, Congress, Politicians,Government, CEO's, of all Industries, at this point has diminished considerably.
Can wait to Vote again? For who, when it seems like everyone participating in running this Country is along for the ride, because it seems that a syndicate of higher powers is in charge and the screwing of the American people continue, as a billion dollar business. That is just in Banking, and between everything else it is more lucrative then the entire Drug Business.
We can lower taxes, transit fares, increase social security cost of living, by having the FBI just investigate the Pain Centers/Clinics in each state that bilk Millions from Medicare each year while helping many people becoming addictive on Drugs. If I a lay person can find this out, by speaking to Doctor's in general within the Community, imagine what a trained group could do with an entire investigative team task force.
Just my opinion, but solutions, opinions, are needed besides voicing my negatives against what has and still is going on in Our Country.
Since: Jul 11
#8 Aug 8, 2011
what a mess, stock market down today over 600 points. will mortgage rates go through the roof next year?
Since: May 08
#10 Aug 15, 2011
update:AUGUST 15TH, 2011 LOGICALLY AND REALISTICALLY WHAT THE WHITE HOUSE HAS TO DO IS ANOTHER ROUND OF STIMULUS, BELIEVE IT OR NOT IN 2012. AND TO FURTHER HELP THE ECONOMY, CREATE MORE JOBS AND ADDING TO THE THE COUNTRIES GNP WOULD BE LOWERING MORTGAGE RATES BY .50%. THAT STIMULATION WOULD CAUSE THE BEGINNING OF A MUCH NEEDED TURNAROUND. THE BANKS SHOULD BE TOLD ALSO TO LIGHTEN UP ON APPLICATION REQUIREMENTS JUST A LITTLE, SO WE MAY COME FULL CIRCLE TO A BETTER ECONOMIC ENVIRONMENT IN THIS COUNTRY.
FAITH WILL BEGIN TO BE RESTORED IN THIS COUNTRY, FOLLOWED BY A MUCH HEALTHIER STOCK MARKET IN 2012. THE 2012 ECONOMIC OUTLOOK AND REAL ESTATE INDUSTRY IS CRUCIAL FOR THE WHITE HOUSE TO SET UP PLANS NOW, SO THAT FRUITION BECOMES REALITY.
JIM TURANO/BROKER*DIVERSE REAL ESTATE*
Since: May 08
#11 Jun 2, 2012
update:JUNE 2, 2012 WHO WOULD BELIEVE THAT CURRENTLY HOMES THAT I LIST SELL WITHIN 2-6 WEEKS NOW. RATES AROUND 3.8 %-30 YEARS.(SPECIAL REAL ESTATE NEWS)
A DOUBLE BOTTOM HAS FORMED. MUCH LOWER HOME PRICES AND MTGE.RATES. IN FACT SINCE DECEMBER 2011 TO KNOW SOME HOMES HAVE GONE UP $8-12,000 DOLLARS IN VALUE.
WHAT A NICE TURNAROUND OF REAL ESTATE MARKET CONDITIONS!
HOWEVER, WITH ALMOST 33 YEARS OF EXPERIENCE I STRONGLY BELIEVE IN 3 YEARS WE WILL HAVE RUN AWAY INFLATION!!!!!!!!!!
HIGH RATES FOR SURE.
IF YOU DO NOT BUY NOW, IF YOU DO NOT INVEST NOW, YOU WILL BE HIT WITH A TIDAL WAVE OF UNBELIEVABLE HIGH EVERYTHING WITH NO TAX DEDUCTIONS WITH INCOME TO OFFSET WHAT IS COMING!
DIVERSE REAL ESTATE
73-01 METROPOLITAN AVENUE
*MOST ENDORSED & MOST RECOMMENDED REAL ESTATE BROKER NOT ONLY IN MIDDLE VILLAGE,NY BUT IN ALL OF QUEENS,NY ON "GOOGLE"
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