St. Petersburg Real Estate Newsletter for October

The good news is

For the first time in almost three years, Florida's existing home sales rose in September, noting a 24 percent increase in activity in the year-to-year comparison; last month's sales of existing condos statewide increased 11 percent in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors®

The bad news is

Home prices are still falling in a lot of areas.

The good news is

Interest rates dropped again.

The bad news is

If your asking price is not competitive, your property will not sell.

Banks look very closely at the appraisal and if it does not come in at or above asking price, the bank will simply not loan the money. I hear all the time "We just need a cash buyer than"  that sounds like a great idea, but the "cash" buyer is traditionally a smart buyer and will not pay more than fair market value, the opposite cash buyers know that it is an advantage for the seller if no mortgage is involved and therefore the "cash" buyer expects a "discount"

Not true

Everybody tells me. "Nothing moves, nothing is selling, the market is standing still"

Simply not true. Here in Pinellas County (according to MLS) we have sold 7240 residential listings so far this year. 4566 single family homes and 2674 condos. Below is a break down in %

$29,999 or under         65        0.90%

$30,000 - $39,999        97        1.34%

$40,000 - $49,999        132      1.82%

$50,000 - $59,999        131      1.81%

$60,000 - $69,999        210      2.90%

$70,000 - $79,999        219      3.02%

$80,000 - $89,999        221      3.05%

$90,000 - $99,999        221      3.05%

$100,000 - $119,999    588      8.12%

$120,000 - $139,999    703      9.71%

$140,000 - $159,999    641      8.85%

$160,000 - $179,999    558      7.71%

$180,000 - $199,999    448      6.19%

$200,000 - $249,999    819      11.31%

$250,000 - $299,999    552      7.62%

$300,000 - $399,999    639      8.83%

$400,000 - $499,999    330      4.56%

$500,000 - $599,999    198      2.73%

$600,000 - $699,999    119      1.64%

$700,000 - $799,999    75        1.04%

$800,000 - $899,999    57        0.79%

$900,000 - $999,999    55        0.76%

Over $1,000,000         162       2.24%

2008 Totals 7,240

Taking the chance that I might sound like a broken record, there are only 3 reasons why a house or condo does not sell

Overpriced

Not enough advertising and marketing

Or (once in a dark blue moon) it is just too unique for buyers.

OK, enough, that was your market update from South Beaches Real Estate Professionals.

 Since we are approaching the holiday season here are some helpful tips

To remove old wax from a glass candle holder, put it in the freezer for
 a few hours. Then take the candle holder out and turn it upside down. The
 wax will fall out.

To easily remove burnt on food from your skillet, simply add a drop or
 two of dish soap and enough water to cover bottom of pan, and bring to
 a boil on stove top.

St. Pete Beach Lighted Boat Parade: 6 p.m. Friday: The parade starts at the Merry Pier at the Pass-a-Grille section of St. Pete Beach and runs past the Don Cesar hotel to the tip of the island.

Treasure Island Christmas Boat Parade: 6:20 p.m. Sunday. Offering one of the best views for spectators, this parade leaves Treasure Island Tennis and Yacht Club (400 Treasure Island Causeway) and floats by John's Pass at about 7 p.m.

Madeira Beach Boat Parade: 7 p.m. Dec. 13. The parade starts at John's Pass and ends in the canal north of City Hall on the border with Redington Beach, beyond the Tom Stuart Causeway Bridge.

Redington Beach And Indian Shores Parade: 6 p.m. Dec. 16. The parade begins north of the Tom Stuart (Madeira Beach) Causeway. Boats will cover a route following the Intra-Coastal Waterway from just north of the Tom Stuart Causeway Bridge (Redington Beach) to The Pub restaurant in Indian Shores.

 Time change - Fall back

Get it right this year, do not forget to reset your clock, go BACK.   So at 2 am it will be 1 am again (one more hour to party, hope I got that one right)

PS. Also check out our new "search all listings feature" on our website.

You can do your search and you can make notes or ask questions and save properties and monitor if there are any price changes.

www.SouthBeaches.info

 Search  single family, condos, vacation homes or investment properties for sale in Florida.

We get a lot of comments on our new Saint Petersburg "weather report" check it out; let me know what you think about our St. Pete Tampabay weather.