Jupiter, Tequesta & Palm Beach Gardens Statistics

Well, the numbers for Jupiter, Tequesta and Palm Beach Gardens are in for the first part of 2009 and what do they tell us?
There were 641 sales so far this year. But if we drill down a little we can find out more.
Due to the First Time Buyers, 61% of the sales were under $ 300,000. And fully 90% of the sales were under $ 600,000. So Mr. & Mrs. Seller are you keeping pace with the market?
So far, only 58 homes have sold over $ 600,000. What are you doing to make sure you is the next to sell?

Home sales data just out

In data just released, the home resale market is continuing to morph. Are you keeping pace? National median home prices dropped 12.4% from a year ago and in some areas, like S.E. Florida, they have dropped even more. So, Mr. & Mrs. Seller, are you adjusting? Using my Dynamic Market Positioning strategy you must continually reposition yourself to remain viable.

Further, most sales are being driven by the benefits of being a First Time Home Buyer. This means the market for the under $ 300,000 home is still strong and it levels off through the $500-$750,000 range.

Another key component is the surge in distressed properties. Its estimated that 1/2 of all sales are now distressed properties and of these, 2/3 are foreclosures. These prices are driving the market. So, Mr. & Mrs. Seller, are you keeping up with this change? What is your agent telling you?

Visit: http://www.coastalfloridarealestate.net/

Mark it down...mark it SOLD...AGAIN!!

Forget location, location, location. These days its all about price, price, price (as if was really ever anything else!). Sure all owners think they have a special house (remember those really nice shelves we put in the garage and the Pergo in the guest room??), but the fact remains that you have to get the house positioned correctly in the market.
Last week, I posted a story about a home here that had been on the market for 18 months. When the price was reduced $ 1,000,000, it sold in just a few days. This morning, another example showed up. A townhouse listed for $275,000 for 6 months was relisted @ $225,000. It sold in just 7 days. Don't forget to make Dynamic Market Positioning a part of your selling strategy! http://coastalfloridarealestate.net
Since I live on the western edge of the Jupiter community, I am often treated to our fabulous, south Florida sunsets. This is a typical, late winter sunset and the colors change from gold to orange and finally to red. I've traveled the entire country and I don't believe there is another spot that has the cloud formations that we have here!

Visit me at: http://coastalfloridarealestate.net

Rocket Docket

Finally, some good, old fashioned common sense for dealing with the glut of distressed properties on the market!

In Lee County here in Florida (Ft. Myers) foreclosures have been piling up so fast (2,000 month) that the court system was 2-3 years behind. So, the Clerk of the Court came up with the idea of a "Rocket Docket". If you were not legally defending your proceedings, with all paperwork in order in just 20-30 seconds the foreclosure process is over and done! The lender now owns the property and the owner is free to move on with his life.

As a Realtor, I can tell you there are people out there who want to buy but the system is so clogged with distressed properties its nearly impossible.

Visit me at: www.CoastalFloridaRealEstate.net

Million Dollar price reduction...SOLD!

In order to keep current on the real estate market, its critical to go through the sales, expireds and new listings every day. The market for active listings is interesting and has worthwhile data in it, but nothing tells the story like the solds. Here you can see the property history (which will include all price reductions) as well as days on the market. In this case a very large price reduction stood out.

The waterfront property had been listed for abour 18 months and the original listing price was over $ 5 million. Although there had been price reductions along the way, none was sufficient to get a buyer. Even large price reductions weren't enough to get an offer until the property was reduced another $ 1 million (about 25%). This just proves the point that if you are not getting showings, you are priced away from the market and you must reposition yourself at a point that will generate showings.

Next week: Minnnows in a pond.http://coastalfloridarealestate.net