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Anyone want to share how things are going in their market?

new whats new more foreclosures .More empty houses .Prices dropping and houses sitting empty for not just months but years .Banks trying to sell the ones from 3 or 4 years ago .Taxes going up more companies closing ,food prices going up and utilities going up .What will the future bring is a guessing game . SCARY GUESSING GAME

It's actually a bit more encouraging here - no, real estate isn't exploding but it is making a steady uphill increase and the new developments that came to a halt 3 years ago are starting to be active once again - still a long road to hoe but things are moving once again.

BTW, CJO, so happy you got sold - where are you now - renting or looking to buy? Doesn't matter, just glad to see you posting again - one of our warriors who lived to see another day!

There was a huge building boom here until 2007. Today many of those developments are undesireable....vacant houses or rentals. IMO those locations won't change anytime soon.
Many older established neighborhoods are doing ok. Granted values had dropped by as much as 50%, but stable areas averaged a 2% increase (May to June).
Seems things are looking up because there is significant new construction for semi-rural custom homes on large lots, and inner city "in fill" housing units.
Miles from any major city, it's becoming a sellers market; foreclosures are generating bidding wars. That may change tho - gasoline prices are highest, ever!

This message has been edited. Last edited by: tessa89,

quote:

Originally posted by sissy77:
new whats new more foreclosures .More empty houses .Prices dropping and houses sitting empty for not just months but years .Banks trying to sell the ones from 3 or 4 years ago .Taxes going up more companies closing ,food prices going up and utilities going up .What will the future bring is a guessing game . SCARY GUESSING GAME

We're in Palm Coast, FL renting a condo. We're in the process of a new-build as we found a builder who was giving really good deals/free upgrades, etc. We thought awhile about buying an existing home / foreclosure, but at this stage in our lives we are just not wanting to get into all that. We've BTDT big time. Especially since we'll have a brand new home for less than an existing home. We're still in the permitting stage which is very slow-going, but we have no control over that!

Well, we still are and in November it will be 5 years. Who knows how long it will take?

Nancy - I continually hope that I'll log in and see that some buyer has snapped up your property..... . CJO, Palm Coast is SO nice - I absolutely love St Augustine, and it's pretty there..... Based on what I've seen in Florida (but I was hoping it was just me), things do seem to move slowly - - but I still really like it here. Sure does rain alot here, though..... . My husband is in Virginia right now, and they had tornados, so I guess the rain isn't all that bad.....

I live ibn VA and have not seen any tornado's .Just pop up thunderstorms so have no clue where the tornado's are .There were tornado warnings up from NC to NJ but saw no tornado's and no reports of tornado's .Sure that gods pit crew would have known and sent relief if there was a tornado here .Since they sure based out of Danville VA .Just like all over there have been bands of storms pop up .But no reports of any here just wind and rain with the storms .

quote:

Originally posted by DebiinFL:
Nancy - I continually hope that I'll log in and see that some buyer has snapped up your property..... . CJO, Palm Coast is SO nice - I absolutely love St Augustine, and it's pretty there..... Based on what I've seen in Florida (but I was hoping it was just me), things do seem to move slowly - - but I still really like it here. Sure does rain alot here, though..... . My husband is in Virginia right now, and they had tornados, so I guess the rain isn't all that bad.....

Deb, I heard on the weather last night that the 'rainy season' is almost over and that somewhat cooler temps are on the way. That is good news when they do finally get around to starting our house.

Two houses still on the market after 4 years. Things aren't getting any better here at all.

kayhil~ Sure hope at least one sells soon! Do you get showings at all? We don't and I think it is because part of it is a business.
What does your realtor say?

kayhil-can you market those two homes 0 down under the dept. of agriculture farm loan --that's what builders are doing here..outside of the city..boundary limits..though. Maps available for each city/town here