St Augustine real estate Year in Review 2010
It was another tough year for real estate in St Johns Florida, While I had a good year with a Solid 20% Year over Year , the market was up in sales 10% and down 5% on average for price. Here are some Highlights
Total Sales 2009 2010
1028 1134 Single Family Homes
Sales from Foreclosures 252 243 (Down due to Foreclosure Issues in September 2010
Sales from Short Sales 143 150
Florida surpassed California for the second-worst Stress score: 16.56.
Though its unemployment rate didn't change from September, its
foreclosure rate rose.
What this means for Home Sellers and Home Buyers
For home buyers 2011 will present the same deals as 2010 , I do not see home prices rising or falling based on the current Lending standards, which can be a huge game changer if no doc and stated loans return! (Before you laugh, I just received an email this morning stating no doc is back). I also believe that loan programs will have to change to make a different, if not then 2011 will be the same.
Home Sellers, This is still not the time to sell, as you will be completing against Home builders, REO , Short sales and more, if you do need to sell then I will create a custom plan for you.