There are all kinds of how-to books at the book store this year on how to do everything, even sell your own home. Now most people know the basics of selling a home…put a sign in the yard, advertise on face book, maybe print some flyers even. What I have noticed about the home sales this year is there are new patterns developing that were not here last year. What an informed seller does is watch the patterns and market to them.
For instance, in the spring we had the home credit that drove millions into buying a home. Then Brevard area realtors like myself watched the news media talk about how the summer months looked like the real estate market was going to crash because home sales were down so much (double digits). Now that we are towards the end of the year, a clear pattern has emerged.
Foreclosed real estate accounts for about a third of the business now, not only in the Brevard, NC area but nationwide. I think there have been many neighborhoods that have been protected from this crisis, like Straus Park, Deerlake, Connestee Falls and others, but for how long…
The reason they have been protected is because of the typical demographic of the home owner that lives there. Typically there is an owner with a fixed income, and lives within their means. This is good for the neighborhood and provides stability. Buyers should consult with an agent that can give information like this because buyers need it now!
I will be discussing the other trends in Brevard,NC real estate in the coming weeks as we move into the new year and this years statistics are complete.