As the Market Turns

The Pending Home Sales Index,¹ a forward-looking indicator based on contracts signed in February, rose 2.1 percent to 82.1 from a reading of 80.4 in January, but is 1.4 percent below February 2008 when it was 83.3.

That's all well and good, but as any good REALTOR® knows - Real Estate is a local business.  So how does this information affect Flagler County?

In January of this year, only 2 homes went pending; in February, 42;  March also had 42, and April had 27 through the 27th of the month.  This gives a good indicator that homes are selling - We have a great deal of investment buyers preparing for a future home and first home buyers making use of that great tax incentive of $8,000. 

With average home prices of $155,000, maybe it's time to take a look at Flagler County for your next home or condo purchase.  Take a look at the listings on my site to see what's available.

Actually, there's more to that subject line than what it says - If you recall the Musical "Annie Get Your Gun", you know "There's No Business Like Show Business!" which would be a term to use in today's real estate market.  If you're not showing your home, chances are "There's No Business".

If priced right, the only thing you need is "Show Business".  Your Sales associate should have web presence, use of all the online tools available in todays real estate market and show lots of pictures (a professional video or virtual tour are very nice too!).  Your listing should be shown in as many places as possible and only in print for areas where the public looks (like those great FREE magazines located at shopping centers and real estate offices). 

A good show really shouldn't include the local newspaper as most who read are only using the prices to list their own homes.  If your sales associate is doing his or her job, your neighbors already know your home is for sale and have been provided an opportunity to view it as part of the show. (if they know someone who would like to buy, they would rather choose their neighbor). . .and as addresses are not often placed in ads, if they just happen to read the paper - they probably wouldn't know it was your place up for sale!

Ensure your sales associate shows your listing to other sales associates - then when they have buyers looking for the features your home has, they'll be more likely to revisit your shown property with a buyer.

Selling your home is important.  Ensuring that the Show business is in effect for your home is critical.  Otherwise "There's no business!"

I often receive questions from friends, family, acquaintances, dogs, cats (not really the last two) about the real estate market.  Many have been listening to the news that Real Estate has "tanked", the market is bad, every other house is in foreclosure. . .

It's important to understand that the news media wants to make money, and the only money they can make comes from "bad news", frightening reports, and vitrial seasoned with garbage to scare the average person to make them continue to watch the news.  (you know ratings and stuff like that). 

Real Estate is actually not in bad shape.  Yes, there were some banks and mortgage companies that loaned money in a "predatory" fashion meaning that they gave loans to people who could neither afford, nor maintain payments on a home.  These banks were able to sell their "bad" loans to other banks so they could borrow more money to make more "bad" loans. 

To make things worse, appraisers hired by these banks were incited to bring up home values to cover cash closings that customers couldn't afford either.  The result, homes valued way over the price they should have held.

Currently, the real estate market has adjusted in many local markets - and understanding that real estate is local is critical to both buyers and sellers.  Our local market has a great amount of inventory, but we have less than we've had in the past.  Homes are moving, sales are happening and when the market does what it always does (real estate always increases in value in the long run), many people will have missed an opportunity to buy in what is known as a "buyers market". 

Flagler County, Florida has a great selection of properties in many great areas for many tastes.  Saying "Now is the time to Buy" is an understatement.  With the stock market in trouble and interest rates for savings at an all time low, owning property is a great way to get a return on your investment capital.  Why not talk to your financial advisor and then give me a call for some great deals while they last!

Jolita