Archive for the 'Market Status' Category

“Knowledge is power” – Sir Francis Bacon.

Friday, September 25th, 2015

Real estate knowledge and information can often help you maximize and protect one of your largest lifetime investments – YOUR HOME. For many of us, the investment we have in our primary residence (and possible investment properties), constitutes the largest investment opportunity we will undertake in our lifetime.

That is why for the last 10 years, we have made it our business to be some of the most informed real estate professionals in the Citrus County Real Estate market. While national real estate information such as interest rates, supply of homes, average sales price is interesting and helpful, the actual value of your home is very local market specific. Our research and experience suggest that in the local market the closing of the nuclear power plant, the strength of the local job market, how cold the winters are in the Northeast and Midwest, the number of hurricanes that hit Florida this year, all ultimately affect the value of your home.

While sharing our market research and information with our valued clients, it has been our privilege to help over 800 parties close over 400 real estate transactions (i.e. more than $45 million in sales) since January of 2006. In 2014 alone we closed over $7 million in sales, and so far in 2015 we have closed over $5.5 million.

When you, or someone you know and care about, needs help with one of your largest lifetime investments, we want to be the first place you call for help! We are here to serve your dreams with honesty, integrity, and expertise.

Reflections on this Week’s Activity

Saturday, February 14th, 2009

I’m here at an open house today with some activity - three potential buyers so far in a 2 hour timeblock.  This along with a climbing count of the number of pending homes, suggests that the market is improving slightly during the month of February.  The stimulus package should be signed by Monday with some possible help for first time home buyers.  Interest rates have continued to stay close to historic lows.  For those who are able to buy a home without first selling another home, this market provides wonderful selection and attractive prices.

Here in Florida we are glad to have the snowbird crowd here with us.  They are out looking and considering retirement options that are available.  In all, some encouraging signs…

January 2009 Review

Saturday, February 7th, 2009

The market at the end of January shows some encouraging trends.  102 single family homes closed during the month, up almost 20% from 86 homes that closed last January.  Lower mortgage rates and lower home prices both may be contributing factors for this increase.

Currently it seems like a great time to buy a home and get an extremely good deal.  There are some short sales and foreclosures in the Citrus County market (in January a little over 30% of sales).  Some of these are great deals, and the net effect is that other homes marketed in the county have also come down substantially in price.

Where are we headed from here?  This market has already dropped about 40% from the peak prices in the fall of 2005.  All indications are that we should have reached a bottom.  Expansion and repair plans by Progress Energy suggest some relief for the local job market.  The new construction market remains very soft.  If this market would experience some relief, the local economy would probably be in fairly good shape.

There is reason, at this point to be optimistic about 2009.