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Monday, September 20, 2010

Some interesting Real Estate Facts

Fannie Mae conducted a telephone survey from December 2009-January 2010.   Some of the interesting results:
  • 64% of the respondents think it is a good time to buy a house, however only  thirty one% think it is a VERY good time to buy.  ( I belive that most people are still a little, ok, very, worried about the future and they are not willing to take a lot of risk!)
  • 73% think housing prices will go up or stay the same over the next year. 
  • 70% said they believe buying a home continues to be one of the safest investments available. 
  • 65% prefer owning to renting.
  • The two most common reasons for choosing to rent instead of buy: belief their credit history is not good enough to qualify for a mortgage and they felt they would be unable to afford the purchase and upkeep. 

National Association of Realtors also came out with the national median sales price this week.
  • The national median sales price is now $182,600
  • In the northeast it is a whopping $263,800
  • In the midwest:  $151,600
  • In the south:  $156,300
  • In the west:  $224,800
What is really interesting is that the median sales price for the Mexico Beach area for this year is $177,500. 

So for a median sales price of $177,500 you can have a home with just a few minutes walk to the most beautiful white sand beach or you perhaps you prefer to freeze in Chicago???


I also believe it is a VERY good time to buy!
  • Interest rates are still under 5%.
  • The inventory in our neck of the woods has been significantly reduced, which is going to really affect the supply and demand theory.
  • The prices may have plateaued--many of the properties listed at good prices are now getting multiple offers and sellers definitely have a bottom line!

There are a few good deals left and I'm praying more will come on the market!  There are definitely buyers, in fact, more buyers than properties.    Most buyers are looking for move in ready.    Buyers who are willing to make repairs are out there as well, its just they are really expecting a much lower price!!!

Please don't hesitate to call me anytime if you have questions about real estate in Mexico Beach, St. Joe Beach, or Port St. Joe!

What lies behind us, and what lies before us, are tiny matters compared to what lies within us.~Ralph Waldo Emerson

sundance realty

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