As a resident of Charolais Estates and a local Real Estate Professional, I have a vested interest to maintain a high level of integrity for our community. It is my pleasure to keep you informed of the current market conditions in Charolais Estates and surrounding neighborhoods. From time to time I will send out some information or my Blog to keep you informed of news events that have an affect on our market.
BUYERS ARE BACK!
The Average Days on Market in Viera for period Jan-Mar 2010, is just 100 days which is much lower than 156 from 1 year ago. Statewide home sales in Feb rose 21% from 1 year ago and up 13.6% from Jan. Sales are expected to be strong through the spring as buyers are trying to beat the tax credit contract deadline on 4/30/2010.
During the past 90 days, there has been strong demand for new homes in the West side of Viera, from the $200's to the $500's. This is another indicator that inventory is not meeting the demand for these home buyers as they are seeking newer quality homes with luxury upgrade options. I expect this will help our community as building a home takes 6-9 months or longer, and some do not wish to wait that long to purchase if there is a quality supply of newer existing homes. I have noticed lots of "out of town" visitors driving through our neighborhoods searching the inventory.
A large majority of today's buyers are looking for bargains such as "Distressed" or "Short Sale" deals. The recent surge in sales of Bank Owned and Short Sale properties has depleted our inventory levels of quality homes. This Spring should be the strongest time to sell this year. Rates are Low but expected to rise later this spring.
If you think your home is worth less than your mortgage, by now you know of Short Sales and the challenges of getting those to go through, well here is some good news! This process will be changing this Spring. Washington is making efforts to revamp the program. Banks will be required to respond to an offer within 10 days. For those that cannot afford to continue to meet their obligations, the "Short Sale" is a very viable option, and I would be happy to discuss this option with you. We have a system in place to negotiate with the banks which may allow you to complete a short sale in much less time.
If you would like schedule an appointment for a FREE Home Value Analysis, it would be my pleasure, Choosing the right listing Realtor is vital in today's market.
Please feel free to call or email me, anytime! Please visit my Website for Viera/Suntree Market Information and Homes For Sale in Charolais Estates and Neighboring Communities
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