I can't believe it's been this long since I have written. I guess I owe an apology to those of you who read, or have read, my blog. I figured I would take a few minutes and update the past 9 months.
It's been another interesting year in Real Estate in Brevard County Florida. We went from having a huge amount of inventory in 2011 to a shortage of homes for sale in 2012. We have seen more buyers than we have seen in years come out to take advantage of the great prices in the area as well as the interest rates staying in the 3.5% range...unreal!
The housing market has seen a resurgence and prices have risen as well. Some homes have risen over 10% in value this year. The bottom has certainly passed! In fact, I have told people the past couple of years, that the bottom in our area was really 2010. Prices did fall a couple of percent in 2011, but the reality is, you can't find homes that don't need work under $75k anymore. A few years ago there were plenty of decent homes under $100k. Those are long gone!
So as we head into the last quarter, we have decided to hire more Agents and get ready for what I believe will be a continued resurgence in the market. The pending election could have negative results on our market and especially on interest rates. These rates are certainly going to be going away soon. I'm shocked they have maintained such a low rate for this long.
In the end, consumer confidence will drive our housing market. With job losses stabalized in the area, still the lowest waterfront pricing in the state, and interest rates low, we should all be confident that we are on our way back.
As always, if you have any questions about Real Estate...or anything else for that matter, don't hesitate to call or email.
Have a great night!
Saturday, October 20, 2012
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