I'll be totally honest.......I'm not a sports fan. I didn't watch the superbowl. But, being from Pennsylvania, I must say I exude a little extra pride today!!!!
Four properties put under contract in the last few days just in the Mexico Beach, St. Joe Beach area! All Realtors were showing a lot of property in the last couple of weeks! There has been a definite increase in interest, so if all &*^% doesn't break loose, I'm anticipating a good year.
I see a principal coming in to play in this market that an investor told me about a long time ago.
Unique properties tend to hold their value more, as well as appreciate more. For instance, if you have 8 houses that are pretty much alike, all 8 of those houses are going to bring pretty much the same price. In this market, if one of those 8 homeowners is pretty motivated to sell and sells it at a steal of a price, then the other 7 homes are pretty much valued at that seller's price. They would have to sell pretty close to the 1st seller's price or wait until the market goes back up.
HOWEVER, if you have a unique property, a one-of-a-kind, whether it be the location, condition, unique features..........then you don't have any comparables. Your property can have its own unique price!
Makes a lot of sense! So, when you are considering purchasing for investment, you need to keep that principal in mind!
Mortgage rates are at 5-5.3%-- but I think this is mainly for primary homebuyers. But even so, if you can 5.8-6% for a 2nd home that is still pretty good.
I'll be sending out my monthly newsletter later this week. If you haven't been receiving it and you know I have your email address, its probably being blocked. So let me know and I'll send it another way.
If you have been receiving emails from me and are no longer interested in buying or selling in this area, please let me know. I will take you off my list---I really don't want to bother anybody--I am not a high pressure real estate agent!!
All my prayers go out to the families that have experienced that terrible ice storm --it was brutal. I talked to a family from Kentucky just the other day and they said the death toll was around 37 there.
Have a great week, don't hesitate to call/email me anytime!