Gainesville FL Real Estate Blog

The National Association of Realtors^® has stepped up its challenge to lawmakers encouraging them to take new, decisive actions to address the continuing problems in the housing industry, as well as the ongoing economic crisis.Let’s take a look at the sales statistics for September 2008 to see how the Gainsville FL real estate market looks: 

“Our members see firsthand the impact that an unstable housing market is having on communities all across this great country,” said Richard F. Gaylord, NAR president. “The U.S. Treasury and Congress need to work together to ensure that the American people - not Wall Street and large banks - benefit from the economic recovery plan.”

NAR sent a letter last week to U.S. Treasury Secretary Henry Paulson calling on him to refocus the Federal Housing Finance Agency’s efforts on restoring strength to the mortgage-backed securities market, which would help lower mortgage rates for all home buyers and for those who need to refinance.

Let’s take a look at the Gainesville FL real estate sales statistics for October 2008 to see how the market looks in our area:

The Gainesville FL area single family home sales experienced a 29% decline in new listings in October 2008, when compared against October 2007.  Pending listings were down 40% and the average sales price was down 5% to $215,480 while market times increased by 27 days. 

The Gainesville FL area Condo/TH market saw the average sales price decrease by 5% to $138,249 in October 2008 compared to October 2007.  Likewise, new listings were down 37% and sold listings were down by 55% this October.  Pending sales decreased by 62%, while the average market times increased by 64 days. 

For the latest Gainesville FL real estate sales statistics and market conditions in your area, please call me at 888-424-8841 or visit MyGatorCondo.com.

Pending home sales activity surged as buyers took advantage of low home prices and affordable interest rates, according to the National Association of Realtors^®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August, jumped 7.4 percent to 93.4 from an upwardly revised reading of 87.0 in July, and is 8.8 percent higher than August 2007 when it stood at 85.8. The index is at the highest level since June 2007 when it stood at 101.4.

Lawrence Yun, NAR chief economist, said home buyers were responding to improved affordability. “What we’re seeing is the momentum of people taking advantage of low home prices, with pending home sales up strongly in California, Nevada, Arizona, Florida, Rhode Island and the Washington, D.C., region,” he said. “It’s unclear how much contract activity may be impacted by the credit disruptions on Wall Street, but we’re hopeful most of the increase will translate into closed existing-home sales.”

Let’s take a look at the sales statistics for September 2008 to see how the Gainsville FL real estate market looks: 

The Gainesville FL area single family home sales experienced a 13% decline in new listings in September 2008, when compared against September 2007.  Pending listings were down 11% and sold $208,520 while market times increased by 7 days. 

The Gainesville FL area Condo/TH market saw a  23% drop in pending sales in September 2008, compared to September 2007.  Likewise, new listings were down 41% and sold listings were down by 49% this September.  The average sales price, decreased by 16% to $157,520 while the average market times increased by only 102 days. 

For the latest Gainesville FL real estate market conditions in your area, please call me at 888-424-8841 or visit MyGatorCondo.com.

The level of home sales is expected to show little movement in the months ahead, according to the latest projections by the National Association of Realtors^®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, fell 3.2 percent to 86.5 from an upwardly revised reading of 89.4 in June, which had risen 5.8 percent from May. The July index remains 6.8 percent below July 2007 when it stood at 92.8.

Lawrence Yun, NAR chief economist, said home sales continue to edge up and down. “Pending home sales are oscillating month-to-month, with the long-term trend essentially flat,” he said. “Overly stringent lending criteria imposed by Fannie Mae and Freddie Mac in the past month no doubt held back contract signings.”

Let’s take a look at the sales statistics for August 2008 to see how the Gainsville FL real estate market looks: 

Gainesville FL Real Estate Sales Statistics:

The Gainesville FL area single family home sales experienced a 41% decline in new listings in August 2008, when compared against August 2007.  Pending listings were down 38% and sold listings were also down, by 26%.  The average sales price dropped 16% to $208,262 while market times increased by 24 days. 

The Gainesville FL area Condo/TH market saw a  32% drop in pending sales in August 2008, compared to August 2007.  Likewise, new listings were down 11% and sold listings were down by 29% this August.  The average sales price, decreased by 12% to $156,922 while the average market times increased by only 10 days. 

For the latest Gainesville FL real estate market conditions in your area, please call me at 888-424-8841 or visit MyGatorCondo.com.

In the past, owning a home has always been perceived as a major component of the “American Dream.”  Unfortunately, because of the recent real estate market activity, home-ownership is often seen now as more of a nightmare than a dream.  But that doesn’t have to be the case!  Even in a slower economy, purchasing Gainesville FL real estate can still be a step toward achieving your own “American Dream!” 

Inman News offers some reasons why home ownership still has benefits and advantages, including:

• The opportunity to build equity and create wealth over time.
• Protection from rent increases or eviction at the whim of a landlord.
• The pleasures of a relatively larger home, suitable for a family, and with a backyard, garage or other auxiliary space.
• The freedom — design review boards notwithstanding — to improve, remodel or redecorate to suit one’s own style and budget.
• A variety of lucrative income-tax breaks.
• Pride of ownership and a greater sense of security and stability.

So, if you are thinking of purchasing Gainesville FL real estate, now is the time!  Don’t let the negative media attention on the market get you down – home ownership is still an attainable goal and a big part of the American Dream.

If you are ready to begin looking at Gainesville FL real estate, please call me at 888-424-8841 or visit GatorHomes.com.    

I am so honored to announce that Gator Homes Realty has been selected for the 2008 Best of Gainesville Award in the Real Estate Agents category by the U.S. Local Business Association (USLBA).The USLBA “Best of Local Business” Award Program recognizes outstanding local businesses throughout the country. Each year, the USLBA identifies companies that it believes have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positive image of small business through service to their customers and community.

We are proud to have received this great honor, and remain committed to providing our clients with the very best service in the Gainesville FL real estate market. 

If you are interested in buying or selling Gainesville FL real estate and are ready to let our expertise work for you, please call me today at 352-316-0630 or visit GatorHomes.com. 

Linda Luetjen named Gainesville Realtor of the Year

Linda was selected as “Realtor of the Year” by the Gainesville Alachua County Association of Realtors for the year 2006. GACAR consist of more than 1,200 Realtors in Alachua County in 225 real estate offices.

This award is given each year to a Realtor who has made a significant contribution to the Realtor association and community through volunteering their time and efforts. This person may have participated on the board of directors, committees, task forces or through service to the community.

Would you like Linda to represent your in your next Gainesville real estate transaction? Contact Linda at 352-332-8841or LindaLu@GatorHomes.com.