It’s only been a few days since our new President took office. Some say it’s the man. I think it’s just this particular moment in history. But there’s a feeling of hope across the country. It’s almost palpable.

Think about it. Thousands gathered to watch the inauguration without incident. Imagine. No shots fired. No banners waving. No rants or protests. Just a sense of community, of oneness, of the sun coming out — even on such a cold day for so many.

What with the bailouts, the Madoff scandal, high foreclosure and bankruptcy rates, the increase in unemployment, instability in the stock and housing markets … there is still a feeling that things will resolve.

Maybe that’s why suddenly business has picked up. The phone’s been ringing. People are looking to buy homes once more. I have to believe it’s just the beginning. As a real estate and mortgage broker sitting in my office in Jupiter Florida there’s a feeling that good things are headed this way.

Let’s all hope.

Every Realtor I know checks the MLS first to see what the market is doing…what’s sold, when and where. Not me!  MLS has no FSBO’s. My best barometer is Kevin Rose, President of Federal Building Inspections.  Better known to his clients as FBI.

I came across Kevin through a recommendation by the Jupiter, Tequesta, Hobe Sound Board of Realtors. That was one great recommendation…because Kevin is the absolute best at what he does. And an excellent source of knowledge for what’s going on locally.

Despite the national economic climate, as well as the Florida real estate slowdown, Kevin’s take on the local real estate market is generally optimistic. When asked how most Brokers are faring he reported, “Everyone’s in survival mode.” But, he qualified that statement with, “I’m beginning to notice a shift. Last year during all of September I did 50 home inspections. This year, during the first half of September I’ve already done 65… and there are plenty more on the books.” I would agree. Two of those inspections, happily, were mine.

Kevin’s take on the market tells me two things. In this particular buyer’s market, buyers are once again starting to get active. And clearly I’m not the only one who trusts FBI.

As if the sub-prime mortgage debacle that has sent economic shocks into the international economy wasn’t enough to help turn the real estate boom into a real estate bust… The government has just signed into law a disaster-piece under the pretext of a housing stimulus package!

This new piece of legislation basically discourages wealthier homeowners from buying a second home. Previously they could plan to eventually sell their primary residence, take a capital gains exclusion and move into the vacation home, converting it to a primary residence. The new legislation eliminates that capital gains exclusion and takes away a huge incentive for buying that second residence. And it will have a particularly negative impact on the Florida real estate market.

Instead of denying that capital gains exclusion altogether, why not place a cap on it. Now many buyers who wanted a second or third or even fourth home in sunny climes will be financially dissuaded. And that’s a hit this market really can’t afford right now.

Home hoppers have always been a big part of what made this market boom. And quashing their incentive to hop isn’t my idea of a housing stimulus! But why take my word for it. Read about it for yourself and let me know what you think.   Article