Real Estate in Northeast Florida and Around the World

We are over a week into the Autumn season, and with the new season comes the opportunity for us to experience changes all around us.  From the leaves turning (yes, we have some leaves that actually change colors in Northeast Florida) and lower temperatures, changing schedules due to school activities or changing our clothes from summer to fall wardrobe, we are all going through changes during this time of year.

One of the most astounding changes that I watch each autum are the number of buyers and sellers who hurry to buy or sell a house before the holidays arrive at year's end.  The normal thought is that home buying and selling activities wanes during the last 4 months of the year.  In fact, it traditionally spurs just after school starts. 

If you are thinking about a change of venue for your family, you are not alone.  The inventory levels of homes continues to be above average, so there are many opportunities out there for buyers.  The good news for sellers is that the levels continue to decline, and we are seeing stabilization in prices in our area.  Those homes that are in the best showing condition, priced competively and well-marketed are not staying in inventory long.  Buyers who wait are often left continuing to look - because homes in great condition and well-priced just are not so common anymore. 

Here's an example - last evening while in the grocery store trying to decide which cheese to select, I overhead two couples chatting behind me.  One couple tells the other that they are house hunting, and describe the area in which they are looking.  The other couple asks how it's going, and if they have found anything.

The house-hunting couple responds that no - they are surprised - they expected more "deals" than what they have been shown by their agent.  One more thing.....they had been shown over 20 homes and still didn't find anything.

Unfortunately for these buyers, they have caught the media bug, which makes them believe that they can find a house for 50% of its market value.  This media bug is viral in nature, because it is everywhere - on TV, at the water cooler, in the newspaper.  However, when asked for factual information, you usually only get facts about one of two actual good bargains, and typically not at a 50% discount. 

Are there deals out there compared to 3 and 4 years ago?  Absolutely!  But buyers and sellers, please consult with your professional real estate agent about the reality of what is going on in your local market before taking the advice of a media source that (1) gets paid based on the number of papers/commercials/magazines that are sold and (2) likes to use national statistics but cannot provide statistics within a zip code in which you may be looking.

If you are thinking of buying or selling your home, give me a call and let's discuss your situation.  You never know if the opportunity is the right one unless you make a change in your actions - so call me today!

See you around the neighborhood!