St. Augustine, FL Real Estate Market 1st Half 2013

Real estate news look fantastic for sellers. (but there are hidden concerns within these great looking statistics).

The market statistics for the first six months of 2013 are to going to make a seller/owner's mouth start watering and at first impression, this would be terrible news for buyers.  WELL THAT'S BOTH RIGHT AND WRONG.

Closed/Sold transactions for the first six months of this year as compared to same period last year increased almost 14%. At the same time, the average sales price of a residential transaction rose almost 11% too. 
FANTASTIC! WONDERFUL! UNBELIEVABLE!

Well... that is both good and bad for homeowners.  Good in that prices have finally showed strong consistent recovery from the last several years of a depressed real estate market.  Bad in that when prices rise, there is a certain segment of the buying public that are then forced out of the market or they have to settle for less house.  Also, the tax man is also salivating so that property assessments and therefore property taxes can begin to increase!

Finally, the main concern for current events in regards to real estate is that interest rates have dramatically risen just in the last two weeks.  A 30 year mortgage a month ago would have an interest rate of around 3.5% and currently that same mortgage is hovering around 5%.  WOW!!!  This alone will eliminate some buyers and make it more difficult for still others to obtain financing and could stymie this robust growth. 

Overall, every line item statistic is looking very good in that the available inventory continues to shrink and buyer demand is still currently strong.  If you have been "sitting on the fence", "thinking about selling your home when the market comes back", or "maybe in six months when I return to the area";  STOP!  GET OFF THE FENCE!  LOOK AT THE THINGS THAT CAN CHANGE IN 6 MONTHS!

If you are a buyer looking at the perfect time to buy, it has already begun to pass you by; BUT IT IS NOT TOO LATE!

Sellers/Owners call "Team Johnson" today and let our superb marketing program get your house marketed and sold for top dollar.

Buyers call "Team Johnson" call "Team Johnson" today and let us help you find the good deals and best financing options for your particular situation.

904-495-0146
teamjohnson@watsonrealtycorp.com