May Numbers Show a Surprise!
posted by WeKnowBrevard Blog @ 1:20am, Thursday 25 June 2009.
I have been seeing the signs for a month or so. First, sales YTY are up. Listings to contracts up over 40%. Contracts to closing up over 25%. Listing inventory county wide is down....below 5000 units. This is the lowest inventory that I've seen. So why wasn't I optimistic that the housing market had turned around??? Because the pricing was still declining state wide. After reading Dr Snaith's information below, I think it might be time to get a little more optimistic.
Florida’s existing home sales rose in May – the ninth month in a row that sales activity increased in the year-to-year comparison.
“The improving sales of existing single family homes and condos is a trend we have been seeing for several months in Florida. What is new in this month’s data release is that we are seeing evidence of prices beginning to firm,” says Dr. Sean Snaith, director for the University of Central Florida’s Institute for Economic Competitiveness. “While one month of data does not a trend make, it is the first green shoot we have seen in some time as far as prices are concerned. Until prices stop declining, we cannot state with confidence that the housing market has stabilized. Sales have risen to levels we have not seen since 2006, though the economy still faces headwinds. As credit markets begin to thaw this will help speed along this process of recovery in the housing market.”
Keep you fingers crossed...maybe we are starting to see the light.
Rounding Third and Heading Home!
Wow, what a week!
posted by WeKnowBrevard Blog @ 6:04am, Thursday 18 June 2009.
Business is rolling, in all shapes, forms and sizes. I showed property all weekend and got a great view of townhomes in Cape Canaveral/cocoa Beach. I also worked on single family short sales & conventional listings in Palm Bay/ Melbourne.
There are several townhomes in the $140-$175K level available. We were lucky and found a 1600 sq/ft, 3/3, built in 06 townhome for $123,000. All of your folks that have yours listed between $175-$200, please take note. You are not going to sell your properties at this level and further, they will never appraise at these values. If you want to sell them you must bring them into the range of possiblity.
Short sales in the $100-$150K range are starting to diminish. We are calling every agent ahead of time to see if anything is going on in regards to contracts with each property. It's the only way to keep from wasting time.
Rates are rising, inventories are shrinking and there's never been a better time to by. Remember, in order to take advantage of the $8000 tax credit on a first time home the property must be CLOSED by 11/30/09. Don't wait to long or you will miss this GREAT opportunity.
Until next time, I'm rounding third and heading for home!
It's time to start blogging again!
posted by WeKnowBrevard Blog @ 10:16am, Saturday 6 June 2009.
Well it's been a little bit of time since my last entry. Sorry about that, there have been plenty of things to talk about.
Let's start here: Good news on the real estate front. 1st quarter stats tell me that:
Homes to contract are up over 40%, compared to 08. Contracts to close are up over 25% for that same time frame. Listings in Brevard county are at an all time low of under 5000 units. Is the tide turning from a buyers market to a sellers market? The indicators are telling me that something is happening. If the median price wasn't constantly sinking I would be feeling really good about the comeback. Let's see if the 2nd quarter can keep up the pace!
Please let us know if we can help you buy or sell real estate! Rounding third and headed for home!