Thursday, June 11, 2009

Signs of a Firm Bottom?

Everyone wants to know when we'll hit the bottom and everyone has opinions. I've made my point about speculation before and won't go there again. Personally, I'm a fan of facts over emotions and I've been waiting for enough facts to pile up. Here are a few:

  1. Realtors are super busy these days although "season" typically ends with Easter. I have 3 closings this month (first-time homebuyer, investor and relocation)! Last month was good, next month looks even better so far.... Last weekend was, in fact, the first weekend I DIDN'T show property since February.
  2. Last months sales statistics from the Sarasota Association of Realtors showed an increase in closed deals and even an increase in the median sales price. Pending transactions have been up so many months now I can't remember when they started rising. For more details, charts and exact figures, click here:
  3. The number of properties for sale on our MLX has decreased all year. Good job to the Realtors! Congrats to the new homeowners and investors have bought some great deals.
  4. More and more folks are receiving actual help to refinance and stay in their homes now with the help of that the government's Making Home Affordable program. Click here for the official website: Don't get me wrong: more folks need help and the help needs to be less frustrating and cumbersome. Contact me if you'd like to see if you qualify as I can refer you to some amazing mortgage brokers and negotiators.
  5. And then... foreclosure filings have dropped for the Sarasota/Manatee area! Read the Sarasota Herald Tribune article here: Filings were still up for the rest of the state.
  6. You can buy for less than what it costs to rent!

In summary, who knows? The commercial market is still all out-of-whack and that will have a big impact on the residential market. However, I think it's only fair to proclaim once again that Sarasota rocks!

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