Thursday, February 26, 2009

Tell me something good

Here is what is good going on in our market place.

The foreclosures and short sales under 200k single family homes are flying off the shelves in Manatee County.

We're seeing sales and buyers in Palmetto, Parrish and Ellenton.

The median home price is falling so more first time home buyers are getting in to the market.

Market astute sellers are lowering their prices (it is all about price) so they can sell their homes and make in to the move up market.

It is a beautiful sunny day in downtown Palmetto, the boats are on the river, the restaurants are full and we're counting our blessings that we are right here.

All the best
Greg Owens PA
Keller Williams Realty of Greater Manatee
941.932.6343

Wednesday, February 25, 2009

Why we're here

I usually write about the latest market statistics, trends or evaluations of what is going on.

As a professional buyers agent we do a lot of training to make ensure our clients receive the best service possible.

Our company Keller Williams Realty just finished our annual family reunion in Orlando, Florida. Think of it as our yearly convention but with a bit of a twist.

Close to 7,000 of us attend very intensive training. You start before 8 a.m. and finish close to 6 p.m. over four days.

One of the things we learned is the next 180 days may be the most economically challenging for our nation in our lifetimes.

There were no punches pulled, no rosy pictures. It was what we expected, an honest look at what is happening in the market.

We were there to learn how to best services our clients. For our team that means right here in Manatee and Sarasota counties.

We train to assist our clients in making the best possible decisions when buying or selling their homes.

We're here to use that training to tell them what is happening in the market and our best advice on how to approach it.

Just so you know in a large part I'm sure because of this kind of training Keller Williams Realty International is the #3 real estate company in the U.S. now. The company is debt free.

Our office in beautiful downtown Palmetto is debt free.

Our office in Palmetto, Keller Williams Realty of Greater Manatee, is now the #3 real estate office for single family home unit sales in Manatee County.

Our office just celebrated our third anniversary of being open for business.

We're gaining market share in one of the toughest economic markets.

The big reason is we take courses throughout the year, then more intense courses at our family reunion.

Our training is adjusted to reflect how to best serve our customers in the market of the day.

Greg Owens PA
Keller Williams Realty of Greater Manatee
941.932.6343
greg@teamworksfla.com

Now is the time

The latest market statistics for our area are out.

Year over year for Sarasota and Manatee counties the median single family home priced dropped 41 percent to $144,800. Sales rose 4 percent.

Condo sales over the same period dropped 34 percent and the median condo price dropped 33 percent to $156,700.

We now have mortgage rates back to 1971 when gas was less than 40 cents a gallon.

We home prices that are back to 2001 if not less.

We have programs that offer all sorts of government incentives to first time home buyers.

In the state of Florida home sales were up 24 percent, the fifth month in a row that sales activity has decreased.

So if someone asked me when the best time to buy is. Now is the time.

Here's why, even besides all the other factors I just mentioned.

If you were waiting on the sidelines ask yourself this question.

Do you think housing prices will ever go back up?

If you answered yes. Then you know that it is time to buy.


Greg Owens PA
Keller Williams Realty of Greater Manatee
941.932.6343
greg@teamworkfla.com

Monday, February 16, 2009

This is why we live here

There are many reasons we live here.

I was reminded of it today.

A new restaurant recently opened up in Palmetto called the Riverhouse Reef and Grill. It is nestled in a newly renovated building at the end of the pier at the Regatta Pointe Marine.

Here it is the middle of February, my teammates and I were having a business lunch beside the Manatee River.

A pleasant breeze kept us cool as we watched the boats making their way to and from Tampa Bay.

It was around 80 degrees out today on the sunny Gulf Coast of Florida.

As for lunch two could eat for easily less than $20.

No real hustle or bustle, this is a small coastal town in Florida.

We take can take a minute to enjoy the scenery here which is one of the reasons we live here.

All the best
Greg Owens PA
Keller Williams Realty of Greater Manatee
941.932.6343
greg@teamworksfla.com

Tuesday, February 10, 2009

Less is more

Yep there is no doubt about it.

Less is more.

Housing that cost less is a good thing.

Less inventory on the market is a good thing.

And both of those are happening in Manatee County.

The lastest Trendgraphix statistics show that overall pending single family homes sales in 08 were up 9.4 percent, sold homes were down 30.2 percent and single family homes for sale were down 46.5 percent.

Based on pending sales we have 10.5 months of inventory on the market.

Pending sales indicate the future market. This is the least amount of inventory we have had in two years.

For single family homes under 200k we have 5.6 months of inventory based on pending sales. That is a neutral market.

A buyer's market is anything more than seven months of inventory. A seller's market is anything under five months of inventory.

No this doesn't mean overall prices have hit bottom yet. Under 200k, yea we're probably getting to that point.

Over 200k, well there is still more than 17 months of inventory based on pending sales. There is bound to be a further drop in prices in this range due to the continuing decline in sales and the large amount of inventory on the market.

All the best
Greg Owens PA
Keller Williams Realty of Greater Manatee
941.932.6343
greg@teamworksfla.com

Tuesday, February 03, 2009

Waterfront for what?

It used to be boaters dreamed of owning a waterfront home, for most it was out of reach due to the high cost.

Recently I put a waterfront home with a dock under contract that was listed for just over $88 per sq. ft.

Thank about that when your average home used to cost more than $100 per square foot in Manatee County you can now get boatable waterfront at much less than that.

Yes, it was a foreclosure and it will need a fridge, paint and a couple of light fixtures. But we're not talking tens of thousands of dollars in repairs we're talking maybe a couple of grand.

So for the boaters whose waterfront property dreams they never thought would come true. Think again.

All the best
Greg Owens P.A.
Keller Williams Realty of Greater Manatee
941.932.6343
greg@teamworksfla.com