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Blog posts tagged in real estate

Posted by on in Flagler County Real Estate
A lot of the United States is holding its breath hoping that the recovery of the economy will continue. Since housing is an important vital indicator, a lot of eyes are turned towards the housing market. This focus on housing is not just because home prices help drive key economic indicators but also that home sales help drive many sectors of the economy in general. Construction, lending, home services like pest control, and all of the industries related to home improvement depend on a healthy housing market. Homeowners do not spend money on their homes if the values are declining.

So, for those who have eagerly awaited news of how the real estate market is doing, the news is wonderful. September was the 20th consecutive month for year-over-year increases in both sales volume and prices! The median price of $185,000 was 12.2% above the price in September 2012. According to the RE/MAX Housing Report, inventory continues to decline at a slower rate. Is that good? Yes, that indicates the market is coming closer to the 6-month supply that indicates a balanced market.

housingMany other indicators suggest that the recovery is moving along well. In a recessionary economy, the population pulls back from luxury purchases and makes do with just necessities. The National Marine Manufacturers Association reports that boat sales are up 10% over last year. Just like with real estate, that means the myriad industries based on boating will also do well. Marinas, repair and service companies, upgrade parts, and storage facilities will all be more successful, will add jobs, will be stronger.

In our own market area of Flagler County, we are seeing similar increases to the national trends. Home sales are up over last year, home prices are increasing at a reasonable rate, home service industries are bouncing back. We think it's a wonderful sign! How do you feel about the way things are going? Are you as optimistic as we are?!
Tagged in: home sales real estate
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Sometimes people wonder, "Why would someone go into the Real Estate business and want to be part of a franchise? Aren't there higher fees than if you just opened a storefront and started doing business?"

The first answer is, "Yes, it costs more to open a RE/MAX brokerage.  But it is well worth it!" And, more importantly, it is well worth it to the buyers and sellers that come to us. We are better able to help them because we are with RE/MAX.

For one thing, think about how franchises work. Some body has a recipe for fried chicken that everyone loves, and he is making more money running his chicken restaurant than any other restaurant around. So he decides to franchise it, and fried chicken restaurants pop up all across the country. And they thrive. They outlast local independent restaurants and make more money. Why? Because the first fried chicken company was doing it right and he taught all the people who bought franchises from him. They got a recipe that was popular and a formula that worked to make money.

In Real Estate it is much more complicated but the basic principle is the same: the original RE/MAX office knew what they were doing. They teach their franchisers how to do a good job doing things the same way. They tweak things throughout the years and communicate the new information to all their franchisers. So every office knows the "best" way to do things. This cuts through much of the confusion a new broker has when they open an independent office.

If you travel you probably see your favorite chain or franchise restaurants and you stop there knowing you will get food cooked just the way you like it. The same way, people who move across country look for a RE/MAX office when they relocate because they know they will be treated professionally by the brokers there.

Is that really worth the money? Does it really work? Yes!! Franchise Times named RE/MAX the top real estate franchise in 2013. RE/MAX was also in the top 20 of all franchises in all industries. That says a lot!

And what does that say for you, the home buyer or seller? It says we know the absolute best way to help you find a new home or sell your old one!  Stop by our office and see!

Source of Franchise Statistics

Tagged in: RE/MAX real estate
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A recent article on sheds some light on a problem in the real estate market right now. Home prices are rising faster than appraised values and that can be a problem for both the buyer and seller.

Let's say you find a home you want and you bid $200,000 for it. The seller accepts your offer, the bank is ready to loan, but the appraisal comes in at $178,000. How can this be?

The truth is that that the appraiser has to find other homes in your neighborhood that are similar and support the sale price. Those are known as "comparables." First, some of the comparable sales may be short sales from six months or so ago. Another consideration is that buyers are suddenly motivated and bidding against each other to get into a house and that drives the price up suddenly and maybe unrealistically. Between the cheap short sales and the enthusiastic bidders the appraiser has to determine a true "fair market value" which may be somewhere in between. That value is what your home would sell for if it was on the market and no one was desperate to sell or desperate to buy.

The bottom line is that the bank will not loan until they have a clear picture of the value of the home. Not the amount you want to pay, not the price the seller hopes to get, but what the home really is worth. Not an easy number to arrive at.

The good news is that the market seems to be settling down. As home prices continue to steadily improve and foreclosed properties are taken off the market, the appraisals begin to reflect the higher numbers and the banks loan more willingly.

What does this mean for your home? Ask a real estate professional at RE/MAX Flagstaff Realty to help you come up with a price for your home. They can show you what the market has been doing in your neighborhood and give you a realistic idea of what the appraiser will be taking into consideration. That can spare you and your buyer a lot of misunderstanding.

Additional Information: URL:
Tagged in: real estate
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ImageThere have been 10 more single family house entered as sold in the local Multiple Listing System.  That brings the total number sold for the month of May to 191 and the Median Price to $137,000.  There are fewer single family houses on the market, down to 748 from 763 earlier this month.

For all you real estate needs contact Jimmy and Annette with RE/MAX Flagstaff. or


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Posted by on in Flagler County
Georgia Turner Vice President of the Flagler County Tourism Development Council (TDC) spoke this morning in front of the Leads to the Future Group.  Georgia had a lot of great information about the direction of the TDC and where our visitors are coming from. Georgia also had a fun update on a TDC contests going on.  The first one Hidden Flagler photo contest is wrapping tonight at 6:00 pm at the Palm Coast Community Center, located at 305 Palm Cost Pkwy.

YOUR Flagler Favorites starts today! Enter our two contests for your chance to win prizes. Contest #1 is the Hidden Flagler photo contest. How well do you know the Flagler County area? Just type your answer in the comment section and for every correct guess your name will be entered in the drawing that will take place July 10 at 6:00 p.m. at the Palm Coast Community Center. And the best part is you get to pick your prize based on "Your Flagler Favorite." Some of the choices are a Touch and Feed at Marineland, horseback riding tour, kayaking tour, rounds of golf, paddleboard or surfboard rental and restaurant certificates. The choice will be YOURS!!! So here's the first Hidden Flagler photo. Good luck because some photos might be easier than other!!!

Check out the TDC’s home page and enjoy the, partner spotlights, list of events, get trip ideas, find out where Fido can play at the beach or join you for a cool one, and local specials.  The TDC web site also has a calendar of events that will keep you busy all summer long!

Leads to the Future is an open leads group the meets Tuesday at 9:00 am at Hancock Bank, located at the Palm Harbor Shopping Center, next to Publix.

Vist RE/MAX Flagstaff for all your real estate needs
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Posted by on in Flagler County

Opportunities are where you find them.  If you  are in the real estate business you can find them at RE/MAX Flagstaff.

What are the components that make up today's opportunities?

  • Customer Satisfaction

  • Consumer Confidence

  • Low Interest Rates

  • Affordable Prices

  • Population Growth

  • Immigration

  • RE/MAX Brand

  • Renter Demand

  • Investors

  • Property Management

If you are looking for a Real Estate office for your real estate needs, look no further, RE/MAX Flagstaff can help you.
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Posted by on in RE/MAX Flagstaff

Enjoy some photos of our new office located at One Hargrove Grade.

Stop for your personal tour.

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Posted by on in Flagler County

Median Price for non-distressed Single Family Residential (SFR) had a 13% decrease from May 2012 to June 2012, which was a similar trend for the same period last year. However it was only a 6% drop from June 2011.  Price point for SFR sales is $200,000 and below with 155 of the 179 sales making up this market.  This in part makes up the large number of cash sales, nearly 50% of all single family residential sales are cash.  However, not all cash sales are under the $200,000 price, an Island Estate home sold for $1.195 million was a cash transaction.  See image below.

Distressed property sales are still a big part of our market making up 53% of single family residential sales.  Bank owned properties had 34% of the 179 SFR with 60 units sold, sales and short sales had 34 units or 17% of sales.  Most banked owned properties saw multiple contracts with the final sales price at or above the list price. The Sold to List Price ratio was 100% as an average and 155% for the high.  Short sales are still a slow process and some banks are holding firm to their pricing and fewer sales are going through with the first or second buyer.

Distressed property will be with for the foreseeable future. Read more from CoreLogic;  Foreclosures Remain High but Improving Yearly: CoreLogic

One big factor for the foreclosure decline is due in part to; First Mortgage Delinquencies on Decline.  Our county clerk recorded 114 Lis Pendes (LP) filed for June.  The Lis Pendes (LP) is the first step in the foreclosure process in Florida, which is a judicial foreclosure state.  This year we had an average monthly filing of 127 LP’s, which on par with 2007 (127) and below 2008 (232), 2009 (223), 2010 (147) in 2011 (81) there was the moratorium which saw fewer filings.

Residential inventory continues to decline, we have just over 6 month’s supply on the market.  May 2012 inventory was 1227 and June 2012 inventory was 1206 whereas June 2011 we had 1700.  Even with the drop in inventory we are not seeing the median prices increase as some national reports indicate.  Low Inventory Boosting Prices, Says HousingPulse.  Our local pricing is still being held down by distressed properties and by the rapid raise we experienced in our prices during 2005 through 2007 when we were seeing increases of over 25% a month in some quarters.  Looking at my 2005 sales records – only 1 single family residential sold for under $100,000, excluding manufacture homes which had an average sales price of $95,200. In 2006 there were 4 SFR, 2007 there were 5SFR.  Now our median price for all SFR is averaging around $118,000 for the year.

Condo inventory continues to decline as well, however it still has over a 15 month supply on the market.  Cash accounted for 81% of condo sales. Slow sales can be attributed to lack of financing options and financial instability in some of the associations.  If you are thinking about buying a condo ensure you vet the associations financials closely.

Snap shot for June Year over Year

Listings 2012 2011 %   Difference
Residential 1206 1700 -30%
Condos 422 607 -31%
Sales 2012 2011 %   Difference
Residential 179 183 -3%
Condos 27 32 -16%
Medium   Price 2012 2011 %   Difference
Residential $112,500 $119,000 -6%
Days on Market 104 188 -45%
Condos $90,000 $150,000 -40%
Days on Market 130 173 -35%

For answers to your real estate questions contact me at 386-246-8585 or via email This email address is being protected from spambots. You need JavaScript enabled to view it.

Visit our office web site at for all your real estate needs.

The below Table shows a month-to-month and year-over-year comparison of single family home sales for years 2010, 2011 and 2012.

Median prices are with distressed properties removed. 

  2012   2011 2010  
  Total   Sales/ Non-Distressed Median   Price Total   Sales/ Non-Distressed Median   Price Total   Sales/ Non-Distressed Median   Price  








































































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