|Published:||Dec 10, 2010 4:49 PM EST|
|Updated:||Dec 10, 2010 1:50 PM EST|
FORT MYERS, Fla- 2010 is shaping up to record the second highest number of sales but it hasn't felt easy getting there.
WINK News Real Estate Contributor Denny Grimes say if he had to compare the year to a movie, he'd pick "Rocky." Like the fighter played by Sylvester Stalone, the market's been knocked down but never out. Grimes says there are five main factors for the rough and tumble sales season.
1. The economy and unmeployment. Too little consumer confidence and too many out of work.
2. The gulf oil spill. Misinformation about where the spill was kept buyers away for three months.
3. Chinese drywall. Buyers started asking a lot of questions about which homes had the toxic material and which didn't.
4. Foreclosure moratorium. More than half our real estate market is foreclosures and this cut off some of the supply.
5. Bogus sellers. Scammers popped up near the end of the year selling homes that weren't theirs.
Grimes joined us Friday morning to elaborate. He says the sequel probably comes out in 2011.