The articles just published in our local News journal on February, February 25 FALLING HOUSE PRICES SEND SALES UPWARD and AREA HOME SALES CONTINUE TO CLIMB on Feb. 26 (BOTH BY BOB KOSLOW, BUSINESS WRITER) bring the long waited news to everyone of us.
According to the article, "falling home prices are starting to have a positive impact with another month of increased sales of existing houses in the Volusia-Flagler market".
The data shows that for single-family homes sold in January, the median price was $131,800 in the two-county area, which is down 26% from the same month last year.
Falling prices attracted buyers and reflected in 31% increase. (419 homes last month from 321 in January 2008). "January was the second consecutive month with increased sales of houses by Realtors when compared to the previous year."
And the best confirmation that this is not just a fluke is that condominiums followed the same trend.
Median prices fell 27% from $230,000 in January 2008 to $167,800 this January in Volusia and Flagler counties. At the same time the two county area saw one of the highest increases in the state in sales (43%). 54 condos were sold in January 2008, and 77 were sold last month.
You do not need to be a rocket science engineer to understand what it means when the prices are down and sales are up.
That's how it was before the prices went up in 2004.
I have not seen prices that low since 2001-2002. You can buy now for less, than they can be built. That's why you can't go wrong, unless, of course, there will be nothing built ever again.
If you want to know how far your dollar can stretch in this market, talk to me. You would be really surprised to see the opportunities. This maybe the best chance to get a vacation property in Florida.
If you want first to make sure that the market will come back, that there will be the day after the night, come when you are comfortable. We will always have what to offer. The only difference is the price. It is half price now. How about buy one, get one free? Sell this later and have yours free.
Jon Zolsky, your Daytona Beach Connection
www.BeautifulFlorida.com
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