Follow up to:
The 30-A Real Estate Market – A Change is Taking Place !
By Jon Miller / April 25, 2011 UPDATE 5/15/2011
For those of you who might have missed my newsletter dated April 25th, you can still view it on our web site.
While I normally only send out newsletters every three months, I thought I needed to update my report from three weeks ago.
If you look at my “Best Buy Single Family Homes” from $200,000 to $600,000, you will see that the list has changed drastically in the last three weeks. I updated it just a couple of days ago on our web site. You can view the new list by going to our newsletter or by clicking on the following link:
http://gotothebeach.net/best-buy-single-family-homes-250000-–-600000/
The reason for the update is that 12 of the original 20 properties I picked went under contract within the three week period. I have not seen such an active market since 2004. If you are looking for a property in this price range, you are going to start to see the $400,000-ish properties start to creep up to $450,000-ish and the $450,000-ish properties creep up to the high $400,000’s. So far I’m just seeing the inventory evaporate with very few price increases to date. The price increases in my mind are just around the corner as this inventory disappears.
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My other two higher price point “Best Buy Single Family Homes” lists also had several properties go under contract, which is at 20% under contract in three weeks, but not nearly as drastic as the 60% of my picks in the up to $600,000 price range.
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Now, I’m one of the least pushy sales people I think you will meet. I don’t even like thinking of myself as a sales person but more of “an expert on real estate evaluations along 30-A.”
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At the risk of being called pushy, if you are looking at single family real estate under $600,000, along 30-A, you should feel some sense of urgency. I am going to continue to do my best to present “values” in this price range, but this price category is changing daily.
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Also, if the 2011 sales pace continues for the rest of the year, it will be the second highest number of single family homes sold in the last 10 years. 2004 was the peak of the market. Let me also say that in 2004 there was very little true value in the market. WE WERE OVERPRICED! Today, that is not true. Every one of the properties I’m presenting still holds value in today’s market.
Sorry for going on about one subject for such a long time, but I believe everyone needs to know what is happening and what I believe is going to happen to this market in the next several months. Please turn off your TV’s and don’t listen to the national news media talk about real estate. 30-A is a one-of-a-kind market and we are poised for price appreciation.
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I hope everyone has a great summer! If we can be of any help or answer any questions, please do not hesitate to give us a call.
Take care,
Jon
850.231.3344