So you searched through homes. You’ve visited each one. And you’ve narrowed it down to which homes(s) your Making an offer in Palm Coastare interested in. Now it’s time to make the offer. The question becomes . . . how much? This is the part that is a little more complex than most people think and a lot of factors should be taken into account.
The common question today is how is ‘the market’ now that the tax credit for new contracts has expired? Remember to qualify for the tax credit the buyer must have signed the contract by April 30, 2010 and closed by June 10, 2010 with the closing date date extended now to accomodate short sales. Since most sales will close within 30 days, May was a real focus as an indicator of the impact of the tax credit and June to a point. So how is the market? Still holding strong in the area. Let’s take a look at the Palm Coast Residential Home statistics:
Everyone is continuing to keep an eye on the housing market nationally and locally to see the effect of the Tax Credit program which ended in April. The terms of the program were that contracts needed to be signed by 4/30/10 and closing occur no later than 6/30/10. Realistically, many of those closings would have […]
Through April of this year, the number of Flagler County residential homes sold has risen 17% compared to the same period in 2009. This period in 2009 saw 378 homes sold with 2010 seeing 442. 83% of those sales were up to $209,000 compared to 81% in 2009. Median price during these periods saw a decline 7% which was driven by the increase in the rise in the number of lower priced homes being sold. See the price bracket breakdown below.
For buyers searching for their next home, we are in the final stretch to take advantage of the Home Buyer Tax Credit. To qualify for this credit, the contract must be signed by April 30th and close by June 30th or this year. It’s important to understand that an offer made by April 30th does not qualify. The offer must be accepted and signed off on (creating an binding sales contract) by April 30th.
I am often asked what I think will happen over the next year in Real Estate in the area. We all wish we had a crystal ball to see into the future. This is especially true in the Real Estate word over the last few years. The only thing we can do is look at the data, activities, and trends to get a perspective on the upcoming year. My outlook based upon these areas is very positive for the area when it comes to residential home sales.
At the beginning of this year I had said it would be an interesting year for Real Estate in the area. It’s no secret that Real Estate has had it’s challenges in the area over the last few years, but this year has shown some great positives.
Earlier this year when I started www.PalmCoastHomeShow.com, the goal was to provide buyers an easy and powerful means to shop for Real Estate locally in the Palm Coast & Flagler County , FL area as well as provide sellers a means to get the most exposure for their property they wish to sell. As I […]
Just knowing how many homes is not always enough. It’s important for those thinking of selling to know what the buyer make up of an area is in order to have reasonable expectations when thinking of selling. Front and foremost, as of the beginning of November we are about 8% above last year
It’s no secret that many owners today find themselves in situations of having to sell their home as a “short sale”. It’s not an easy time for these owner. They are having difficulty making the payments, other life situations are probably adding to the stress (i.e. loss of a job, divorce, etc.), and the property has become more of a burden than a “pride and joy” in their lives. But these owners actually have a significant competitive advantage over regular property listings . . . buyer attention. Why? Buyers look for “deals”. Short sales have a buyer expectation of “deal” associated with them in much the same way as ‘foreclosures’. Obviously, unlike foreclosures . . . the seller still owns the house and must get the most for the property to be able to minimize the difference owed and negotiate with the bank how to handle that differnce after close (i.e. ‘forgive’, repayment plan, etc.).