POINCIANA | Lately, I've been getting this one, almost prodding, question about home sales in Poinciana. It's been, "Have we hit rock bottom yet?" While clicking my heels, like Dorothy in Oz, I've been giving everyone the same answer, "We're getting closer, to be sure, but not today." This week, however, I found myself done with this Black-07 response. With 2008 around the corner and March just three months away, it appears we've finally hit the trend creating the foundation of our bottom, an "absorption rate" that's calmly remained below 5% . . . all year.
Since April 2005, when our market began its current downward trend, I've been saying that the market needed to reach a "low plateau," a.k.a., rock bottom, before we'd see it rise again, and 2007 . . . all of it in fact . . . was rock bottom. While I cannot give you all the research that went into my current prediction, I can say that I've been accurate in all of my real estate trend predictions for the Poinciana area forever. My prediction for 2008 is that sales will begin looking more normal.
But don't mix "looking normal" with "actual normal," the latter which you can look forward to in 2009.
For those considering listing a home to sell in Poinciana: you'll be able sell in 2008, but only by working with either an Internet-savvy realtor or one who sells exclusively to naïve buyers, not many of those left in these parts. Or, your best option: Wait until 2009, preferably after the U.S. presidential inauguration, to list your home for sale. For those interested in moving to Florida, Poinciana currently offers the best prices in the Orlando metropolitan area. Chart source: OSCAR.
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