I have heard & read multiple national reports that foreclosures are up and only modest (if any) improvements in new home sales and housing starts. Now let’s take a look at our beloved Colony.
January 1st of this year to today, we have sold, and/or pending a close date, 60 properties. You heard right.
We started the season with a small 10% of our total homes for sale (823 Colony homes multiplied by 10%) 84 Colony homes listed for sale as of January 1. Today we have 55 Colony homes for sale-well below an industry standard healthy listing supply.
In other words, we need Colony home inventory to sell.
I received a call from a rather frantic seller who said, “Drop the price!” He went on to tell me how the media is forecasting economic gloom and doom & inflation. The seller was worried that it’d be years before we get one of his Colony homes sold.
With due respect and awareness of our great country’s economic challenges, I believe that people are tired of putting off their Florida home purchase, as they have for these past few years, and want to make a beginning enjoying their long lived dream of owning a home here in paradise.
Colony prospects are people who are nearing retirement & their children are grown. These are the consumers who represent the base majority of our local economy, but demographically, don’t fit the model of the typical struggling American.
Even in The Colony’s heyday, we didn’t sell this percentage of our total available listings. That’s right; even in the boom real estate economy.
A complete listing of available homes can be found at www.jillkushner.com