Florida Keys September 2020 Market Update

By
Real Estate Agent with Coldwell Banker Schmitt Real Estate
 
 
 
Hey! Are you feeling Fantastic, Incredible, Amazing, and Wonderful? 

The real estate market is making up for a lost time, but things might change soon.

1. A surge in sales and record prices

This spring, home sales slowed to a crawl due to the coronavirus pandemic.

However, this summer, the market has come roaring back.

Sales of existing homes surged 24.7% in July compared to June (the last months for which we have full data). That's the biggest gain in sales since the National Association of Realtors started tracking these numbers in 1968.

Home prices are also rising. The median home price reached a record high this July, both in absolute terms and also when adjusted for inflation. When adjusted for inflation, current median home prices are 3.4% higher than the previous record set during the housing bubble in 2006.

2. Never-before-seen mortgage rates

One thing that's contributing to both sales and price growth are record-low mortgage rates.

The average 30-year mortgage rate dropped to 2.88% a few weeks ago. That's a number that would have been unimaginable just a year ago, but these days, rates as low as 1.99% have been spotted in the wild.

This is making homes more affordable to buyers, and it’s increasing demand even more than the lockdown may have. However, things might be changing.

3. Clouds on the horizon

This August, nearly a third of renters were unable to pay rent. Likewise, a growing number of homeowners are falling behind on mortgage payments.

These are lingering effects of the economic lockdown surfacing now because unemployment benefits and various mortgage forbearance programs are coming to an end.

That's why experts predict a rise in defaults and evictions, which is likely to wash over the entire market in the coming weeks and months.

What does this mean for you?

Well, if you have been thinking of selling, now might be a golden moment. (Free Guide)

A severe lack of homes for sale means you could sell in record time, and since low mortgage rates are making homes more affordable, you could get top dollar for your home.

However, the dark clouds we mentioned above could change things quickly.

We could see an influx of new homes for sale on the market, which would drive down prices and put us into a buyer’s market, with many homes sitting for months while buyers pick and choose among them.

That's why it makes sense to act now if you've been thinking of selling.

If you'd like to get started, you can get an idea of what your home is currently worth with this home value calculator, which is based on recent Florida Keys sales:


Enter your address here to find out what your home is currently worth

If you are ready to get the process rolling, give either of us a call at:

Lela: 
305-395-0814 | Natalie: 305-481-3317  

We've helped several sellers over the past month, and we've sold quickly and at top price.

So if you have questions, give us a call and we will answer them, so you can make the best choice for your circumstances.

Have a great day,


Lela Ashkarian & Natalie Ardis
 
 
When a listing becomes canceled or expired, it can tarnish the property, but with the right plan moving forward, it doesn't have to. By FOCUSING on what prevented the sale, we can build a strategy that will revitalize the listing. Our approach has been proven time and time again to successfully sell canceled and expired listings, and we can do the same for you. Don't let your prior experiences deter you from getting your property SOLD. It only takes one buyer to make a deal happen. We know how to find that buyer and get the deal that you deserve. Call us today!
Lela: 305-395-0814 | Natalie: 305-481-3317  
 
 
 
Check Out Lela's Book on Amazon
Reply to this email with your contact information to receive a free copy.
 
 
Twitter Facebook LinkedIn YouTube
Looking to buy a home?
Search All Homes
Looking to sell a home?
Home Value Report
 
Manage your preferences | Unsubscribe
View this email online.
Posted by

SUBSCRIBE TO MY BLOG VIA EMAIL

Enter your email address:

Delivered by FeedBurner

 
 
 
Facebook Linked In YouTube My Blog Trulia Active Rain

Now really Do you want to Find and Move in Florida Keys?

Remember ---what you think about, you talk about, you bring about. Don't! keep me a secret..Right Now, take out your cell phone, look up my number  305-395-0814  and give me a call, Have the best day of your life

 Photobucket

Lela Ashkarian, PA, CRS, GRI, e-PRO

Coldwell Banker Schmitt Real Estate

International President's Circle

11050 Overseas Highway

Marathon, Fl 33050

305-395-0814

lela@coldwellbanker.com

 
P.S.My Purpose is for you to be so outrageously happy with the help I provide you that you'll gladly introduce me to at least two people you really care about before I even sell your home/help you buy a new home.  Not because you feel obligated, but because you truly believe they will benefit.

 

Find Lela on Google+

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Selling
Tags:
inspiration
passion
amazing
real estate consultant
real estate
interestrates
homevalues
floridakeys
lela ashkarian
lowinventory
neverquit
lifeisgood
fineliving
servingbig

Spam prevention
Show All Comments
Ambassador
4,076,817
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Lilas "Lela" Ashkarian this is valuable information for both Buyers and Sellers in your area

Sep 17, 2020 04:15 PM #1
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
203,628

Lilas "Lela" Ashkarian

Ashkarian PA, ABR, CRS, E-PRO, GRI,SFR
Connect with Lela 305-395-0814
*
*
*
*

Additional Information