2020 is here!
Another year has come and gone and life is traveling at a fast pace. Some of us don’t like it but the world around us has changed dramatically. Most difficult for me is realizing I am coming up on 25 years since I entered into the real estate industry…..It seems like yesterday!
The last 25 years have been very good to me. I truly enjoy doing business with so many longtime clients like you that have become lifelong friends.
We have seen the Florida market fluctuate in many ways over the last three decades experiencing highs and lows. The Tallahassee market has been consistent overall due to the impact of the annual legislative sessions as well as the growth of our universities.
We are currently in a sellers’ market due to lack of inventory. Homebuyers continue to find themselves frustrated, as the relatively few properties coming on the market aren’t meeting their demand. The likelihood of continued low interest rates makes it possible for more individuals to become homeowners for the first time. Land and lot prices have gotten very high and also the availability is at an all-time low.
We are looking at an increase in the new construction. Homebuilders are more confident in the market now than they have been in 20-plus years and recent construction numbers are surpassing expectations.
In fact, according to the U.S. Census Bureau, residential building permits hit a 12-year high last month, surging 11.1% over the year. Housing starts were also up, jumping 13.6% over last November, while housing completions rose 7.3%. It’s the sixth consecutive month housing starts have grown.
We are approaching a great time to buy or sell in the Tallahassee and surrounding areas! Spring is typically thought of as the best time to sell a house since historically this is when most transactions occur and when homes sell the fastest. Seasonality impacts how supply and demand in the housing market change at different times of the year.
I have been incredibly fortunate to help hundreds of homeowners like you successfully buy and sell real estate. Sometimes helping them avoid making a major mistake when trying to navigate the real estate transaction process. After completing more than 1,000 real estate transactions I have learned a few things about real estate law and contractual agreements. If you or someone you know is facing a difficult decision regarding buying or selling their home and would like some advice, please feel free to reach out to me on my cell phone at 850-566-8373 or shoot me an email at mike@mike.digitalopps.com.
Wishing you all a great 2020!!!
Mike
