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August 18th, 2009 7:46 AM by David W. Welch
I have mentioned in my blog several times over the last few months that things will probably slow down a bit in August and September. We don't have the bad weather in the winter like so many places up north, so we don't really have a selling "season". Things do pick up a bit each year around April and slow down a bit in August and September. This seasonality has more to do with school schedules than anything else. This year, I just expected to see this typical pattern, but I am not. If anything, it seems like activity is picking up. The other thing I am noticing is the price range of the activity is higher too. For months much of the activity has been centered around investor purchases of inexpensive condos. Now I am getting more activity on properties ranging from the low $100's to the $800's. Most of it is still in the $150 to $250 range, but at the beginning of the year it was mostly in the $50's and $60's. There are a lot more second home buyers too who are viewing this as a different type of investment.
I believe this is a sign of improving real estate markets around the country, since much of this activity is coming from other areas. It also suggests to me that there is more confidence in the economy and a sense that real estate values have bottomed out. In any trend, there are early adopters jumping in head first (the investors grabbing all those condos) and then the great masses that wade into the market (what I think we are seeing now) and the ones who wait too long and miss out on the best opportunities because they think the water is too cold. Don't miss out. Come on in the water's fine.
Orlando Real Estate, David Welch Real Estate Optimist