St Augustine real estate week in review 02/20/2011
No signs of buyers last week , My Web traffic was up and now that the weather is back over 70 each day I am sure we will start to see some Buyers in the next few weeks
- Closed on 621 Loire Court in St Johns Forest for $203,000 and I Negotiated 3% or $6000.00 for buyers closing cost make this one of the best deals in months, Even the appraisal came in at $240,000.
- Working on my 3 Additional Closing 2 in Palencia and 1 in Sumerlin by the end of the month.
- Wrote a Contract in Country Walk for a ELM with some nice upgrades to be build in the next 4 months
- Received an offer on my Broadway Property (we are close, details soon)
- Cypress Lakes continues to be showed 2-3 times a week not a lot but soon I will sell this myself
- Received a new REO assignment 43 Fullerwood, St Augustine in North City
So it was a great week for me to catch up on assignments , finished my continue education requirements for the next 2 years and renew My License.
Predictions for 2011 are in
- Florida Real Estate to drop 5-10% this year
- Delinquency rates for Mortgages will decline this year
- Nations Unemployment rate will continue to Improve
- Property Appreciation expected in 40% of Major Metro areas
- Foreclosure Activity to DROP
Personal real estate is Local and this is now I see it
- St Augustine Real Estate to Decline for Condos at the beach, Single Family Homes in CDD Communities ,
- St Augustine Beach Real Estate to be stable with some deals but end the year flat
- World Golf Village to be Stable to 5% Drop in home Prices
- Palencia Renewed interested as builders are buying discounted / foreclosed land
Over All I see another year , just like 2010 with some Possible positive news from lenders on new programs and some government programs to avoid Foreclosure, I still in favor of buying the right properties now and going for an upgraded location like the Beach, for example We have a 3300 SQ ft home in St Augustine Beach with ocean views under $480,000.