At the beginning of this year I had said it would be an interesting year for Real Estate in the area.  It™s no secret that Real Estate has had it™s challenges in the area over the last few years, but this year has shown some great positives.  First, ˜the market™ when it comes to Real Estate can not be lumped all into one category.  ™The market™ is broken into four main categories:

• Residential Homes
• Residential Land
• Condominiums
• Commercial

Each will perform differently.  The primary segment that I focus on when posting  local market data  monthly on my website  www.PalmCoastHomeShow.com  is the Residential Housing market segment.  This is often the best guage of  performance in the area.

If we look at just Palm Coast alone, there are some great positives that have come out of this year:

1. The total number of residential houses sold through 11/30/2009 were 1,180.  In comparison to the same period in 2008, that number is +10%.
2. The total number of residential houses for sale as of 12/11/2009 is 1,015.  This is significantly lower to the last few years.
3. The average number of closings for residential houses this year through 11/30/2009 is 107/month.  This is also slightly higher than the last few years when we were averaging just below 100/month.

The big question always is . . . price.  Average and median prices for sold properties in Palm Coast are down compared to last year at -15% and -16% respectively.  The important things to keep in mind in regards to price is that price does not recover until number of sales increase/stabilize, inventories reduce, and price will react about a year a part from number of sales. All of which depends upon stabilization.  Also, every house and property is unique and ˜market value™ depends on a variety of factors for each.  If you are thinking of selling, feel free to call me for a personal property market analysis.

Click here for a full residential housing market breakdown for Flagler County & Palm Coast.

So what is the outlook for 2010 in the area?  I™m not one for speculation to be honest.  There is no ˜crystal ball™ even though we often wish their was.  My outlook is positive based upon the steady increases in the number of sales and reduction of inventories.  All of which points to signs of stabilization which can position the area for future steady gains.  ™Short Sale™ (selling where the property can only sell for less than what is owed) situations still account for about 30% of all residential houses for sale in Flagler County and about 36% for Palm Coast.  These properties tend to take longer to close and are pre-foreclosure situations.  Foreclosures are actually very low in terms of number for sale through local Realtors and have moved at a fraction of the time of normal sales (Days on the Market).  In the event more foreclosures enter the market for sale, they are often very attractive to prospective buyers and move fairly quickly in the area.

Time will tell, and 2010 should be another very interesting year.  National and state average interest rates still remain slightly below 5% and buyers are showing clear interest in the area.  Flagler County & Palm Coast are very attractive areas for relocation and will be for years to come in my opinion.  It™s a great area with so much to offer and whether it™s a move within the area or new residents, it™s always exciting and a great pleasure to be a part of such an exciting time in others™ lives and sharing our town with them.

Merry Christmas & Happy Holidays to all.  Enjoy the season.

Kathleen West, Realtor  “ Trademark Realty Group of Palm Coast

*Disclaimer:  Statistics based upon the Flagler County Association of Realtors MLS as of 12/11/2009 for Residential Houses.   Information may be deemed reliable, but is not guaranteed

Many in the area remember over the last two years that it was not uncommon to see 2000+ houses for sale in the area.   In fact, many are still under the impression that the level is still that high.   The good news is that the number of houses for sale in Palm Coast and Flagler County has significantly dropped.   As of 5/16/09 we have 1095  Residential  Houses for sale in Palm Coast and 1502 for all of  Flagler County (See a full market report for the area).  

The biggest contributor are properties designated as ‘Short Sales’ (occurs when the owner owes more than the property can sell for).   Short Sales contribute 393 of the listings or 26% of all listings in the county.   Currently 63 are pending for sale in Flagler County.   Short sales will remain a significant part of houses offered for sale for some time.   There have been several issues  that have hindered short sales  including  lengthy timeframe to get responses back from banks, varying policies depending on lenders, and a lack of guarantees which have caused “surprises” at closings and sales to be lost.    Since these are situations where the lender will be receiving less than what is owed to them, they naturally want to minimize that loss as much as possible.   Coupled with the fact that the lenders saw a flood of these cases go through departments that were not able to handle the volume or had not developed policy or processes since the situation is a rarity in real estate.   Recently,  the government has stepped in to  bring both incentives to lenders and consistency to the process.   Click here to get more information on these updates.   We have seen over the last year better response times from lenders in terms of offers and more upfront information and direction form the lenders to make the process more efficient.  

The other big question on seller and buyer minds is concerning foreclosures.   This is an area where the  Flagler County made significant progress over the last year with sell-thorughs and use of the short sale option.    Currently the area has only  a handful of foreclosure houses for sale (designated as ‘Lender Owned’ in the Flagler County MLS).   Click here to see the foreclosure properties for sale in the area.   There are currently 244 properties filed with the Flagler County Clerk of Courts Office at this time.   Foreclosures are obviously attractive to buyers because of price, but can often be in need of repairs.   An inspection by a licensed home inspector will give you a clear idea of repairs which need to be made allowing you to get the most accurate picture of the total cost of the purchase.  

In terms of sales, Flagler County has had 462 Residential Houses sold through 5/22/09 compared to 478 the same period last year.   So we are beginning to see the number of sales “flatten out” which is a positive sign for the future.   We began to see the same “flattening out” in terms of median prices last year.    Again these are both positive signs to stabilization in the market.  

Realtor Magazine’s latest edition had a great article about 4 questions that are on most buyers and sellers minds today.   I wanted to touch on them concerning the Flagler & Palm Coast areas here in Florida.

1. Why are the prices of homes substantially in today’s market?  
   1. A:   Homes typically have appreciated at a rate of around 4% to 5% per year and it’s not unusual to see values fluctuate during the first 4 to 5 years of ownership.   During the boom a few years ago, values had appreciated at rates of much higher than normal.   We are at a point now, where the market is correcting itself.  
   2. This becomes the situation when it too many properties become available for sale.   Typically an area should be around a 5 to 6 month supply.   We are currently around a 12 to 14 month supply for residential homes available for sale.  
2. Where are prices headed next?
   1. A:   This is probably the biggest question on most people’s minds.   It is difficult to tell right now, but there are indicators that things will begin heading in a much better direction than the last few years.   Typically the number of sales and prices have reacted about a year differently than one another in the area.   We are seeing the number of sales  beginning to “flatten out” which is a very good indicator.   We are  also seeing Palm Coast and Flagler  County contunue  to be a significant growth area and is projected to grow 10% over the next 4 years according to Florida Trend.      Performance this year will definitely be one to watch.   But if you are ready to buy, this is a great time to act especially with the historically great interest rates often time in the 4% to 5% range currently.  
3. Should I buy now?
   1. A:   Most would think I’ll just say “yes” because I’m a Realtor.   But truth be told from a buyer’s standpoint, this is definitely a great time to buy.   Great prices, good negotiation position, great selection, and great interest rates.   The conditions are perfect for buyers in the area.  
4. Is owning a home really a great investment?
   1. A:   I’ve been a renter and a homeowner.   I’ll take homeownership every time.   Right now, monthly rents can be right around the same if not more than monthly mortgage payments.   Therefore, I am getting no financial benefit to paying rent each month in comparison to making a mortgage payment and owning.   Ownership allows you the tax benefits of deductions for interest and property taxes.   It also allows you the ability to sell later on and most often earn a profit to use towards another property if you must move.   It is also something you can stay in for a long period of time, pay your loan down, and take the cash later on when selling possibly at retirement age.     The most important thing with ownership is knowing what you can afford (pre-approval from a lender and disciplined personal budgeting).  

So what have we learned over the last few years in terms of advertising properties for sale?   Well, we know that we must advertise on the Internet.   We even know what websites to be on.   But it takes a lot more than just Being anywhere.   It takes great presentation that is both strategic and has all the components prospective buyers are looking for when shopping.  

Consumers have been telling us  a lot  about HOW, WHY, and WHAT they are looking  for when they use the Internet to shop.   In some industries people are pretty comfortable making a selection on-line, adding the item to the ‘shopping cart’, entering their payment information, and placing the order.   This works with low-priced items, but since Real Estate is one of the biggest purchases of one’s life . . . the process is different.   Regardless, we learn a great deal from the first scenario.  

First of all, if I am shopping on-line for let’s say a new laptop computer.   I first know how much I want to spend.   I also have a general idea of the specifications I want.   So I begin my search.   I go to the major store sites and search for laptops entering the features I want and get a list.   Personally, I then sort the list by price (lowest to highest and always wondering why they even put that ‘Best Selling’ option because that’s not the best deal).   Now I’m looking at a list of choices, and what am I looking for?   The best price with the features I want and more than I want.   So I see one that is a great price and has more than I wanted, but I am not done.   I want more information and read the specifications down the bottom.   I want pictures to see how the ports are laid out.   I do some research elsewhere to see how that manufacturer is ‘rated’ or ‘reviewed’ especially if I am not familiar with them.   I’ve done all that and . . . I’m still not ready to make a choice.   I want to go to the store, see the display, and play around with the machine and then I’ll make my choice.   I’m not going to the store ‘blind’.   I’m going educated so I can make an informed decision.

So is that just me?   No.   In fact it’s the majority of  the way people shop nowadays on higher-priced items.   And it is the same way, people are shopping for Real Estate.   They are targeting their shopping and educating themselves before making the decision to pick up the phone, send an email, click a link, or whatever to go see the property.   Bottom-line . . . Buyers want to be able to experience the property as much as possible on-line and get as much information about the area before making the decision to take a physical tour.   It is imperative in advertising on-line that key components be in place to accomplish all of that, grab the buyers attention, and get showings.   In essence, tell the story of your house.   So what are those components?  

1. Photographs – A lot of them, from various angles, straight, and clear!   Listing websites are now allowing 20+ photos to be posted.   Use all of that space.   I take more than is needed to have a better selection when back at the screen.   They get touched up (NOT altered to be misleading), and posted in a logical order.  
2. The Description – There is limited space to write these.   So it’s important to highlight the things about the property that stand out and are unique.   These are the things that when I walk in to the house with my “buyer goggles” on that make me say, “Wow.   I like that.”   I also look at who I could see living there and what type of buyer the property would appeal to most.   That way, the description can be more targeted.  
3. Specifications – Room-by-room dimensions and information.   I can’t tell how big a room really is when looking at a picture, but a picture and measurements gives me a much better idea.  
4. Area information- All the demographics and historical sales information.   The buyer is going to live there for several years of their life, you want to know the culture and make-up of the community.   This is why I  make sure to use an enhanced listing service on Realtor.com because it  contains a ton of area information along with the property information.    
5. Satellite and interactive map – I love this part of technology.   Seeing a neighborhood from above is an amazing perspective.   The new ‘Street view’ is also great because you can take a virtual tour through a neighborhood.  
6. Virtual Tour of the house- I choose to go with video compared to the panoramic still style.   The reason is that the experience is more realistic on-line. You can see the leaves blowing in the breeze, water moving in pools, etc.   And since the quality has improved a great deal with uploading when done correctly, it is a great piece to the overall presentation.  
7. Financial Calculators – These right in with the property give a great estimate of payments.
8. Contact Information – Make it easy.   Phone number right there or an email link that has the code for an automated subject line.   That way you know exactly what the person is emailing you about.

All of these components being present is very important to getting showings.   The goal of advertising is to get you showings.   Great Advertising Presentation + Widest Possible Buyer Audience = Showings => Sold!

Visit www.PalmCoastHomeShow.com for more information on beautiful Palm Coast & Flagler County as well as the unique services we offer!

Get listings based upon your criteria sent directly to your email.   See listings as they come on the market.
Click here to get started today!

Click here to find out how much your property is worth!

Click Below For My Elite Home Selling Promotion
 

Over the last year I worked exclusively with buyers.   It was an interesting experience that gave me better insight into how and why buyers are making buying decisions.   From the seller standpoint it gave me great insight into why buyers also pass over a property.   I’m back into the full-service aspect of the business and have put together a seller program that is a combination of what worked in the past for me and what I learned over the last year from looking through the buyer’s eyes.   It’s a no-gimmick program strategically designed for results.   More on that later.   I want to touch on two aspects of successful selling now and into the future.

Before listing any property for sale, you have to have a price.   Pricing right the first time is more important now than ever before.    The all-to common pricing strategy of pricing higher “because you can always come down” can cost you far more than you realize.   In-depth analysis of Comparable Market Anaylsis is a must, and the price derived should be one that will get the property sold within 90 days.   It’s understanding how buyers shop that really drives this point home:

1. It’s no secret that the majority of buyers shop on the internet at places like Realtor.com.   The national average is about 84%, and here in Florida where it’s primarily a relocation area . . . that percentage is probably much higher.   When that buyer shops online one of the first criteria they put in after location is   . . . PRICE.   Here’s what happens if the property is priced incorrectly:
   1. Priced too high – Your property will be grouped in with other properties that most likely have more features and buyers will pass over your property.   You may think, well it’s a negotiation business so they can make an offer right?   Buyers are not going to miss the opportunity of other properties within their price range that have more features by engaging in what they know will be a lengthy game of back-and-forth.   Most will simply pass over the property causing the length of time on the grow and grow.   It’s no secret that the longer a property is on the market, the more it can cost the seller.   The “what’s wrong with it”  mentality kicks in, sellers get anxious, and you start dropping the price.   Usually lower than what it should have been in the first place.
   2. Priced too low – This can be a strategy if you want to sell quick to take advantage of better prices to buy another house, but if done because of oversight . . . you’ll realize the cost later.   Again, you’ll be grouped in properties which have less features and your property will be considered “the bargain”.  
2. The other primary way buyers find properties is email notifications.   They set up a targeted serach criteria on their own if available or with a Realtor and have properties emailed to them from MLS systems.   Again, the above situations will both occur if you are not priced correctly.  
3. Yes buyers find properties in traditional ways too such as lawn signs, magazines, word-of-mouth.   But this does not mean they have not shopped online and educated themselves about pricing in the area.  

Well can’t I just go on to Zillow and use their Zestimate to get what my house should be priced at?   First, I love Zillow.com and what they have done with the advertising property online.   I also like that they have given insight into the fact that automated valuations is something we all are interested in having.   The problem right now is the large margin of error that exists and that could be very very costly to the tune of tens of thousands of dollars.   These automated pricing systems are ESTIMATES and I can not stress that enough.   Click here for more information about the accuracy of Zestimates from Zillow.com directly.   In my area, Flagler County, the Zestmiate has been wihtin 5% of the selling price only 16% of the time.   The 58%-of-the-time category was within 20% of the selling price.   20% of a $200,000 property is $40,000!   That’s a lot of money.   Trust me, I would love an automated pricing system and I don’t know too many Realtors who wouldn’t.   Although MLS computerized databases make the process a bit easier, we take great care in coming to a recommended listing price and one that can get your property sold within 90 days.  

Check back within a day or 2 for the next segment will be about presentation and advertising through the buyer’s eyes and how many possibilities to get showings you may be missing.

Visit www.PalmCoastHomeShow.com for more information on beautiful Palm Coast & Flagler County as well as the unique services we offer!

Get listings based upon your criteria sent directly to your email.   See listings as they come on the market.
Click here to get started today!

Click here to find out how much your property is worth!

Click Below For My Elite Home Selling Promotion
 

So you’ve made the decision to buy and now it’s time to start your search.  Like most buyers, you’re probably going on the internet to look.  As you’ll see, there’s probably a lot available.  So here’s tips to get you started a targeted approach with an explanation of the difference of some of these sites versus an MLS System.

A targeted approach is narrowing down your search to your specific needs:

1. What you can afford.   I recommend putting this price a bit higher (i.e. $5,000) than your budgeted range.  The reason for this is taking into account negotiation with sellers when making an offer.  By doing this you will open up your selection a bit more.  Remember, it’s best to get pre-qualified by a mortgage professional before beginning your search.  A pre-qualification is NOT a mortgage commitment, but gives you an idea of what a bank would approve you for in terms of a mortgage. 
2. Your lifestyle needs. 
   1. Family size now and in the future.  This will allow you to determine the number of bedrooms and living square footage.  In addition, you may want to account for a ‘Guest Bedroom’ if you are in an area where you know family from out-of-town will come to visit like here in Florida.
   2. Location
      1. Distance to work and schools. 
      2. Recreation.  The things that you like to do such as going to the beach, fishing, shopping, so forth and so on.  This is an area of your search which is a lower priority and more flexible.   

So you have your list and you are ready to search for that perfect property, but there are all these different websites with properties for sale.  Which one is the best?  There are basically three different types:

1. Online classifieds.  These are your sites such as Realtor.com, Zillow, Trulia, Craigslist, Realbird, etc.  Realtor.com is one of the most reliable due to the fact that the information is fed from local MLS systems which are the most comprehensive list of properties for sale and overseen by local Realtor Associations.  The other sites allow individual Realtors and Owners to advertise properties for sale and the selection is dependent upon who uses that system.  Each one obviously offers other unique services such as local information or highlighting property values in the area.
2. Individual Real Estate Brokerage and Realtor Websites.  Most individual Realtors and Brokerages have their own websites and highlight properties for sale.  These are often properties that Realtor and Brokerage have contracted to sell.  Over the last few years these website services have provided the ability for users to “share” listings amongst their websites.  Again, these are limited to who uses that website service. 
3. Local MLS (Multiple Listing Service).  These are databases compiled of properties for sale from Real Estate Brokerages that are members of local Realtor Associations.  These are private databases, but in the past few years internet technologies have Realtors the ability to provide the public the ability to search these databases (see my website for an example of the Flagler County Association of Realtors MLS search).  These are the same databases that Realtor.com draws it’s information from.  These databases are often the most comprehensive list of properties since the majority of sellers list their property for sale with a local Realtor.  These systems are also strictly overseen by local Realtor Associations to aid in insuring the most accurate infromation. 

So what are your options:

1. Utilizing the criteria you determined above, visit the website of your choice and put in that criteria to see the properties available for sale.  And start listing the properties that you would like to see.
2. Get listings emailed to you straight from a local MLS system such as the service I provide.  Many buyers have found this to be a great service because the search is set up to  unqiue to your specifications and properties that meet your criteria are emailed directly to you as soon as they come on the market.  Basically, you’re getting to see properties for sale even before others have seen them.  When you see one you like, simply add it to your list or contact the agent who set you up to schedule a showing. 

In short, searching for the “perfect home” is best when it is organized and targeted to your specific needs.  When you approach a home search this way you will find that it is more efficient, you’ll be more satisfied, and often get a better financial benefit. 

Visit www.PalmCoastHomeShow.com for more information on beautiful Palm Coast & Flagler County as well as the unique services we offer!

Get listings based upon your criteria sent directly to your email.  See listings as they come on the market.
Click here to get started today!

Highlighting DEALS
on the market now in beautiful Palm Coast, FL!

• 13 Slate Blue Place
  • $174,900!
  • 6 Bedrooms
  • on a Cul De Sac
  • Click for a Brochure
  • Click here for more information
• 110 Ramblewood Drive
  • $125,000!
  • 3 Bedrooms
  • on a Freshwater Canal
  • Click here for a Brochure
  • Click here for more information
• 28 Seathorn Path
  • $159,900!
  • Great for the investor. 
  • Tenant occupied!
  • Click here for a Brochure
  • Click here for more information

Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 1/4/2009.  Information may be deemed reliable, but is not guaranteed

Visit www.PalmCoastHomeShow.com for more information on beautiful Palm Coast & Flagler County as well as the unique services we offer!

Get listings based upon your criteria sent directly to your email.  See listings as they come on the market.
Click here to get started today!

With a daughter in High School, we are always looking out for the tools that will help her in school now and in the future.  As technology is being used in schools and knowing familiarity is an important part of the foundation for her future, we recently purchased Microsoft Office 2007 Home and Student along with Microsoft’s Student with Encarta.  These products are great tools for every student. 

Office 2007 Home and Student includes the software tools that are truly beneficial for students:

• Word 2007 – The popular word processing program with upgraded menus and funtionality.
• Excel 2007 – The popular spreadsheet software for creating tables and graphs.
• Powerpoint 2007 – The popular presentaion software for creating great classroom presentations for projects.
• OneNote 2007 – An electronic notebook for staying organized and on-track

Along with Microsoft’s Student with Encarta she has valuable tools at her disposal:

• Microsoft Math which not only assists with questions, but provides:
  • Step-by-step instructions to solving problems
  • Homework help for every level of math
  • A Scientific Calculator
• Project templates for papers and presentations
• Valuable reference tools such as the periodic table, anatomy diagrams, articles on a wide variety of subjects, and more.
• Tools for college and career planning.

In addition, Microsoft also now provides free Office Live Workspace.  This is a great tool for families to share documents, schedules, contacts, and more all in one spot without taking up valuable refrigerator space for more important artwork and awards!  And you can access the files and information from anywhere you have internet access.

I personally am holding off on upgrading on my own PC since this particular version of Office is designed for non-commercial use and does not include Outlook.  Therefore, it will not work well with my previous version of Outlook and email.  Plus I find it important to be on consistent platforms of software in the company I work with.  But I am liking the new features of Office 2007 and will be looking at uprading to the commercial suite eventually.

Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 12/29/2008 for Residential Houses.  Information may be deemed reliable, but is not guaranteed

Visit www.PalmCoastHomeShow.com for more information on beautiful Palm Coast & Flagler County as well as the unique services we offer!

Get listings based upon your criteria sent directly to your email.  See listings as they come on the market.
Click here to get started today!

 Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 12/29/2008 for Residential Houses.  Information may be deemed reliable, but is not guaranteed

Visit www.PalmCoastHomeShow.com for more information on beautiful Palm Coast & Flagler County as well as the unique services we offer!

Get listings based upon your criteria sent directly to your email.  See listings as they come on the market.
Click here to get started today!