WHAT WILL 2008 BRING US?
I don't have a crystal ball, but I can speculate about the future of the market...
1. Will there be more homes for sale in 2008?
Yes... I forcast that the inventory in Seminole Countywill continue to grow. As more and more homes go into foreclosure and homeowners who have ARM mortgages face higher payments that they can't afford, we will see more lisings entering the market in 2008. As of today, there are 4,530 properties (single family homes, condos, townhomes) on the market in Seminole County.
2. Will the buyer's market continue? Yes... It is a great time to buy. There are a lot of great properties on the market. First-time buyers will continue to be able to negotiate closing costs into their purchase contracts and have the opportunity to become homeowners.
3. Can you really sell a house in this market? Yes... There are buyers out there and you are priced right, your home is in move-in condition and you have an agressive marketing campaign... you can sell. I can't stress enough that chasing the market is never going to work. You have to acknowledge the market signals; if you are getting showings and no offers... lower your price. If you are not getting any showings, lower the price. If you are getting feedback that the house doesn't show well... talk to your REALTOR about a staging consultation.
If you are thinking about buying or selling real estate please contact me.
Contact Debbie Summers, REALTOR®, ALHS, e-PRO ~ Cell 407-758-1020 or email ~ to list your property for sale or to purchase a home in Seminole County, Lake Mary, Sanford, Longwood, Altamonte Springs, Casselberry, Winter Springs, Oviedo, Winter Park, Maitland or Apopka.
Magnolia Plantation is a stunning Golf Community nestled along the Wekiva Preserve with home prices starting in the mid $400's to over $1.5 million. This neighborhood is located in the highly desirable Markham Woods Road area and minutes from I-4, fine dining, shopping and Seminole County Schools.
As of today there are 30 homes on the market... 35 homes have sold in Magnolia Plantation in the past 12 months.
There is currently 1 home under contract, there were no sales in Magnolia Plantation in December.
Magnolia Plantation Sales Flashback:
Homes sold in November 2007: 1
Homes sold in October 2007: 0
Homes sold in December 2006: 2
December 2005: 5
(All sales information compiled from the Mid Florida Regional Multiple Listing Service)
If you would like additional information about Magnolia Plantation or other Lake Mary communities please email Debbie.
This is a brief analysis of the residential resale market in Lake Mary for December 1 - 31, 2007.
As of today there are 526 homes on the market... 513 homes sold in Lake Mary in the past 12 months. We currently have 12 months of inventory.
There are currently 42 homes that are under contract, which is right in line with the 38 that were sold in December. We will be watching the number of homes that go under contract very closely to indicate any changes in the market.
Lake Mary Sales Flashback:
Homes sold in November 2007: 32
Homes sold in October 2007: 32 - no it's not a typo
Homes sold in December 2006: 52
December 2005: 58
Please call 407-758-1020 or email Debbie for additional information or for a specific neighborhood in Lake Mary.
If you are interested in buying or selling real estate in Lake Mary, Longwood, Sanford, Altamonte Springs, Apopka, Maitland, Winter Park, Winter Springs, Oviedo or the Orlando Area... Please call Cas and Debbie for all of your real estate needs.
What will you be doing on March 15th? Don't be surprised to see me in the Annual 5K Run.
The City of Lake Mary Celebrates will be held on March 1, 2008 this year and includes great family fun and entertainment in lake Mary's Central Park at City Hall. Join the festivities from 10AM to 4PM.
Contact Debbie Summers, REALTOR®, ALHS, e-PRO, RE/MAX Central Realty - Lake Mary, Florida ~ Cell 407-758-1020 or email ~ to list your property for sale or to purchase a home in Seminole County, Lake Mary, Sanford, Longwood, Altamonte Springs, Casselberry, Winter Springs, Oviedo, Winter Park, Maitland or Apopka.
Happy New Year!
The following is a quick analysis of the residential resale market within Seminole County, Florida for December 1 - 31, 2007.
As of January 3rd there are 78 more homes on the market than were sold in all of 2007. There are 4,499 homes on them market as of today... 4,421 homes sold in Seminole County in the past 12 months. It is easy to see that we have a years worth of inventory.
There are currently 299 homes that are under contract, which is right in line with the 283 that were sold in December. We will be watching the number of homes that go under contract quite closely to indicate any changes in the market.
Sales Flashback:
Homes sold in November 2007: 261
Homes sold in October 2007: 261 - no it's not a typo
Homes sold in December 2006: 544
December 2005: 639
What type of market will we have in 2008? That is the question that is on everyone's mind. Stay tuned for my next post and 2008 predictions.
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