The real estate market in the area is showing signs of recovery but is still volatile. While home prices have dropped by around half from their peak to an average of $125,000 currently, the number of months it would take to sell all homes currently listed has fallen from a high of 46 months to 12 months now, indicating that supply and demand are becoming more balanced. Demand needs to continue outpacing supply for prices to start increasing again in a sustainable manner. The number of days homes stay on the market before selling has also dropped, which is another positive sign for the health of the market. Overall, both subjective feelings and objective data suggest the worst may be behind the market.
Boulder Colorado Real Estate December 2010 statisticsNeil Kearney
Boulder County Real Estate Statistics presented by Neil Kearney. Broker/owner of Kearney Realty Co./ Metro Brokers in Boulder Colorado. Includes total sales, median price, under contract percentage. If you are interested in the Boulder Real Estate take a look.
A comprehensive summary of the housing market in Southwest California where we're enjoying the strongest Seller's market in years in July. Sales posted their 2nd highest month in the past decade, up 17% over June and up 11% over last July. Median prices continued to climb as well, advancing 6% year-to-date. We are now measuring inventory of homes for sale in weeks, not months.
Mortgage Closing Costs Rising - The Real Estate Report August/SeptemberAMSI, San Francisco
The Real Estate Report August/September, local market trends San Francisco: "Mortgage Closing Costs Rising" by AMSI's Real Estate Broker Robb Fleischer
Boulder Colorado Real Estate December 2010 statisticsNeil Kearney
Boulder County Real Estate Statistics presented by Neil Kearney. Broker/owner of Kearney Realty Co./ Metro Brokers in Boulder Colorado. Includes total sales, median price, under contract percentage. If you are interested in the Boulder Real Estate take a look.
A comprehensive summary of the housing market in Southwest California where we're enjoying the strongest Seller's market in years in July. Sales posted their 2nd highest month in the past decade, up 17% over June and up 11% over last July. Median prices continued to climb as well, advancing 6% year-to-date. We are now measuring inventory of homes for sale in weeks, not months.
Mortgage Closing Costs Rising - The Real Estate Report August/SeptemberAMSI, San Francisco
The Real Estate Report August/September, local market trends San Francisco: "Mortgage Closing Costs Rising" by AMSI's Real Estate Broker Robb Fleischer
Powerpoint Presentation on local and national economic data for residential builders. Presented at the Cape Fear/Wilmington Builders\' Association Meeting.
Slides for a talk at Universitas Gunadarma regarding current economic conditions (mostly US and commodities) as well as Indonesia's capital market followed by stock recommendations.
Powerpoint Presentation on local and national economic data for residential builders. Presented at the Cape Fear/Wilmington Builders\' Association Meeting.
Slides for a talk at Universitas Gunadarma regarding current economic conditions (mostly US and commodities) as well as Indonesia's capital market followed by stock recommendations.
5 Reasons To Sell Your Home This WinterGina Madeya
When a homeowner decides to sell their house, they obviously want the best possible price with the least amount of hassles.
Here are five reasons listing your home for sale this winter makes sense.
If you are a homeowner looking to take advantage of your home equity by moving up to your dream home, let’s get together to discuss your options! 1-425-495-0926
Annie Williams Real Estate Report - Dec 2015Jon Weaver
Housing affordability is one area where California can expect to experience long-term pain. Statewide, the percentage of households that earn enough to purchase a median-priced home rose 34 percent in early 2015 before settling in the low
30s—down from a high of 53 percent in 2011 and 36 percent in 2014. In high-priced coastal cities, percentages have fallen into the teens and lower.
Residential Real Estate market update covering the Macro Economy and its influence on local real estate markets. Designed to assist investors to make informed decision, and move forward with confidence.
This is a guide to provide important information about selling your home during the winter of 2017. Contact Jessica Eve Morgan for a complimentary Home Evaluation. (646) 820-7855
It’s difficult to know when is the best time to sell, or how to get the most money for your house, but you don't need to go through the process alone.
You may be wondering if prices are projected to rise or fall...or if you should rent your house instead of selling it. The free eGuide below will answer many of your questions and likely bring up a few things you haven’t even thought about yet.
Check it out, and feel free to get in touch if you have any questions.
This is a guide to provide important information about selling your home during the winter of 2017. Contact Jessica Eve Morgan for a complimentary Home Evaluation. (646) 820-7855
This “Seller Guide” will help you simply and effectively explain the current market to potential sellers, and give you powerful marketing materials to share with clients, or bring to your pre-listing appointments.
This “Seller Guide” will help you simply and effectively explain the current market to potential sellers, and give you powerful marketing materials to share with clients, or bring to your pre-listing appointments.
Thinking about selling your Columbus Ohio area home this spring? This guide will answer a lot of questions you may have about when is the best time to sell you home, as well as who would be the best person to do that.
Thinking about selling your home yourself? Read on to see why you may be leaving money on the table by not using an agent.
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ATTORNEYS
GUY S. EMERICH
JACK O. HACKETT II
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DOROTHY L. KORSZEN
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Forrest J. Bass
Natalie C. Lashway
George T. Williamson
How is Real Estate Doing?
Jack O. Hackett II
November 2010
People often ask us, “How’s the residential real estate market doing
in your area?” Subjectively, the answer is, “It depends on the week.”
Some weeks a lot of contracts come in for closing and we feel like it’s
2004 again (well, not really), and other weeks the phone doesn’t ring
as much.
Objectively, though, the numbers published by the Punta Gorda-Port Charlotte-North Port As-
sociation of Realtors, Inc. show an interesting mix of news. It’s no secret that the average sale
price of single family homes and condominium units has dropped substantially in our market area.
For the last year-and-a-half it has hovered in the $125,000 range, about half of what it was four
years ago. (September’s average dropped to $110,000, but apparently that was just a one-month
aberration as it popped back up to almost $126,000 in October.) There is no doubt that there
are remarkable deals out there, especially waterfront, for those hearty souls left with cash or good
credit scores.
But the real interesting column is the number of months of inventory on the market; that is, given
the market in terms of how many sales are occurring each month, how many months would it take
to sell all the homes currently on the multiple listing service? That number peaked in October of
2007 at 46.4. Thus, since there were only 165 sales that month, it would take almost four years
at that level of activity to sell everything in the MLS. That number stayed mostly in the 30’s and
40’s in 2007 and in the 20’s in 2008. In March of 2010 it got as low as 8 months. It now has
clicked back up to 12 months, though that increase is probably explained by the seasonal nature
of our area’s real estate market.
It is basic supply and demand. If you want the prices to go up, either the supply has to go down
or the demand has to go up. At the height of the market, the demand was unsustainable. In ad-
dition to primary residence buyers there were second home buyers, rental property buyers, inves-
tors, speculators, and plenty of people who had no business buying a house even though banks
were lending them money to do so. It was like the shoe shine boy giving stock tips before the
Great Depression - people from all over the world were buying properties in Southwest Florida
faster than tulips in Holland, often sight unseen. Prices went through the roof to the point it was
unfathomable to us who have been around here for a while.
Then all the buyers went away, and sellers appeared in droves, so prices had no place to go but
2. Punta Gorda Office:
99 Nesbit Street
PuntaGorda, FL 33950
Phone: 941.639.1158
Fax: 941.639.0028
Englewood Office:
33 S. Indiana Avenue
Englewood, FL 34223
Phone: 941.460.9334
Fax: 941.460.9443
down. Meanwhile inventory stacked up on the MLS to hit the four-year number mentioned above,
ample evidence of over-supply in the market, causing prices to fall even further.
The drop in the inventory to a more manageable 12 months is an absolute precursor to a return
to a healthy market. Prices (and therefore, values) will not start going back up until demand out-
paces supply. With minimal new construction going on, a reasonable uptick in new buyers this
coming season would show further signs of recovery. Conventional wisdom though is that there
are many sellers sitting on the sideline waiting until the prices go up so they can get out from
being under water in their mortgages. Also, there are plenty of bank-owned properties out there
that aren’t listed yet because even the banks don’t want to sell at such a low price. Hopefully, the
anticipated flow of these properties onto the market will be managed in such a way that there is
an orderly turnover of inventory and home values can rise in a reasonable and sustainable manner.
Another bright spot is that the average number of days a property stays on the market before
it sells has dropped from a high of 147 in August of 2009 to right around 100 for the last few
months. This is a further positive sign of a return to a healthy market.
One final note about the numbers. They show that in all kinds of markets our local Realtors have
a good handle on values. In October, the average sale price was 92% of the average list price.
In the last four years that number has never been below 90% and has rarely been above 94%, an
impressively tight margin. It means that those listing Realtors whose properties are being sold
are doing a good job of advising their sellers at what price to list their properties so that they sell
as quickly as possible without leaving too much money on the table.
So how is the real estate market doing? It depends on whom you ask and when. Subjectively, I
often hear that the worst is behind us. Objectively, the numbers seem to back that up.
Personal Injury &
Wrongful Death
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& Land Use
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It is not offered as legal advice or legal opinion.
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any taxpayer, for the purpose of avoiding any penalties that may be imposed under the Internal Revenue
Code. Advice from our firm relating to Federal tax matters may not be used in promoting, marketing or
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