How is the Housing Market in Flagler County Doing?

Current homeowners and people considering investing in a home in Flagler County want to know – is Flagler County doing as well as the rest of the nation in the housing turnaround.

We have good news for them – Flagler County is doing better! There are many factors that affect the current housing market in different areas of the country:

  • How far did the prices fall?
  • When did the prices recover?
  • What is the level of homeowner satisfaction?
  • What are other factors that affect the market?

This is what we have experienced here. In 2008 the housing market began to fall and fell faster in Flagler County than it did in neighboring St. Johns County. That might seem like a negative indicator but it did not turn out that way. When Flagler County began to recover, other counties in Florida were still losing value.

It was a struggle for home buyers to get financing, but the homes were selling out of foreclosures, short sales and from traditional sellers. Slowly, banks eased residential lending, and more houses sold and the price continued to rise.

Because we are in NE Florida, homeowner satisfaction is high. We’ve had no adverse weather events while the rest of the country has experienced early and brutal snow storms and even, so called, Frankenstorms.

This has resulted in many northern states showing low homeowner satisfaction in surveys. Some show that as high a percentage as 49% would move if given the opportunity. Where would they move? Many would move to Florida. Who does that benefit? Yes, it benefits us in Flagler County. We have a beautiful coastline, mild winters, and friendly, happy residents.

And that’s what makes all the difference! Our home prices are continuing to rise at a sustainable rate and our citizens are continuing to love living here.

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When Home Prices Rise, Buyers Win

September was a very positive month in 2014 with the volume of home sales higher than in September of 2013. The best news, however, was that the prices continued to follow a rising trend. Not as fast a rise as in 2013, but a respectable 5.4%. That’s good news to home owners and even to buyers.

How can it be good news for buyers when home prices rise? First, it means they are purchasing an asset that is appreciating. A home is the largest investment many people will ever make and the housing crisis, where many homes lost value, was a disaster for homeowners. Second, it means that they will gain equity in their homes via appreciation as well as by paying against the principal.

Not the least consideration is that banks are more interested in loaning money on homes when those home values are increasing. No bank wants to get stuck with a foreclosed on home that is worth less than what they loaned on it. When lenders are enthusiastic, buyers have an easier time buying.

If you decide that now is the time to buy, make two appointments. 1) Make an appointment with a lender to get pre-qualified. You don’t want to find the perfect house and then be told your credit has some problems. 2) Make an appointment with a RE/MAX Flagstaff real estate broker to look at some houses. Our professionals will make sure you find the home that fits your needs and your budget. That’s what we’re trained to do!

Call RE/MAX Flagstaff at 386-246-8585 and let’s celebrate the good news in the housing market!b2ap3_thumbnail_38Pepperdine.jpg

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Winter Forecast: Cool with Flurries of Sales

There are states where cooler weather signals a slowdown of all activity. Boats are stored for the winter, golf clubs are cleaned and put away. Some businesses close or get ready for slower sales. Florida is not like that especially in the Real Estate profession. The statistics explain it all.

According to a Gallup poll done at the end of December 2013, an astonishing seven northern states reported that more than 40% of their population wanted to move away. It should come as no surprise that those feelings intensify during cold weather.

Illinois, Connecticut, Maryland, Rhode Island, New Jersey, Massachusetts and New York reported that over 40% of their population wished they were somewhere else. Throughout the happy months of summer, people are more or less comfortable where they are. But with the first snowfall the discontent grows. Throw in some sleet, icy rain, a blizzard or two and hazardous driving and now you have mounting dissatisfaction. Florida looks pretty attractive about that time.

RE/MAX nationwide advertising gives a RE/MAX broker an edge here. Since RE/MAX is a familiar name in their home state, many people looking to relocate think of a RE/MAX agency first. Additionally, if RE/MAX is helping them sell their home up north, that broker will refer them to someone they can trust in Florida.

Here in Palm Coast, Winter is not a season where real estate slows down. And if you want to be part of the first flurries of sales, RE/MAX Flagstaff is the team you want to be on. Give us a call at 386-246-8585 and let’s get ready for Winter!

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RE/MAX Flagstaff Office: 386-246-8585
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