Moving forward

We are definitely starting to see a new and brighter horizon in the real estate world.

Inventory is down, prices in some cases appear to be stabilizing a bit.

We're getting bullish on the market.

Even though our main office is in Palmetto on the Manatee River we work across Sarasota and Manatee counties.

We're proud to say we just opened an office for an agent in downtown Sarasota.

Time to expand a bit, make a little breathing room by showing our confidence in Troy Funk and his team.

We're making plans to open a whole new office in downtown Sarasota because we believe the market is about to turn and we want to ensure we can best serve our clients from here and there.

All the best
Greg Owens P.A.
Keller Williams On the water
941.932.6343
greg@teamworksfla.com

Affordable luxury

This week I spent some time on Palm Island/Don Pedro Island looking at vacant beach front land.

A couple of years ago a fifty foot frontage lot on the Gulf of Mexico would have cost you close to or more than $1 million.

Now you can get 125 feet of gulf frontage under a million.

Imagine a dream home on the Gulf of Mexico, surf and sand at your back door on an island only accessible by boat or ferry yet close to a marina and a grocery store.

A place where everything moves slower. Where most people drive a golf cart to go anywhere. Where people wave and know each other.

This truly is affordable luxury.

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

Sailing away

Across the street from our office in downtown Palmetto, Florida there is a sail boat regatta today.

It's about 95 degrees out and sunny

Enough with how beautiful our area is, which why a lot of people want to live here, on to real estate.

For single family homes we are down to a 11 month supply in Manatee County based on sold homes. If you consider about this time last year that was 13 months and in 2007 is it was 19 months, you can pretty much tell where this market is going.

I can tell you from recent experience the pickings are a lot slimmer out there than they were even just a few months ago.

In addition if you are looking for homes that are not a short sale because you don't have time to wait 4 to 6 months to get in to a house well your choices get to be a lot fewer.

It also means seller's are starting to dig in their heels on prices a little more.

It doesn't mean there aren't bargains still out there it just means we are getting back to a normal market.

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

The facts just the facts

Here is what is happening in our Manatee market for single family homes according to the latest Trendgraphix statistics

The under and over 200k market are like night and day.

From May 8 last year to this year, overall over 200k sales are down, prices per square foot are still dropping, pending sales are down, and it is still a strong buyers market. Under 200k based on current inventory available it is a sellers market.

(Seven months or greater of inventory is considered a buyers market, 5-7 months a neutral market, 5 or less months a sellers market)

Stats:
As of May 8, 2009
2305 for sale homes on the market
108 sold in the previous 30 days
215 pending sales
21.3 months of inventory based on sold homes
10.7 months based on pending sales
46.1 percent drop in homes for sale
63.1 drop in sold homes
29 percent drop in pending sales.

Now under 200k different story.

898 for sale homes on the market
155 sold in the previous 30 days
279 pending sales
5.8 months of inventory based on sold homes
3.2 months of inventory based on pending sales
36.8 drop in homes for sale
86.7 percent increase in sold homes
184.7 percent increase in pending sales

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

Beach time

If you live in Manatee or Sarasota counties you are never too far from a beach.

With our busy lives we sometimes forget that. It is one of the reasons many of us live here.

My wife and I have vowed to take a walk on the beach at least twice a week in the evening to remind us of that joy.

We did just that yesterday at Bradenton Beach.

There is nothing quite like walking along the beach at sunset feeling the warm gulf waters splashing at your feet while you watch the sun go down.

What a wonderful feeling.

All the best
Greg Owens P.A.
Keller Williams Realty of Greater Manatee
941.932.6343