I just read two reports with one saying the Consumer Confidence Index retreats in September 2010 from August Nationally and the other says that the index rose in Florida. So what is it? Are we confident or are we not? I think one thing is for sure, the real estate market along the Emerald Coast has been HOT in what is a typically slow time of the year. This does not mean that prices are rising…I am talking about great buys and buyers snatching up the premium inventory.
This week Team Baranowski had 10 Contracts: 7 listings sold and 3 foreclosed condos under contract. Our phones were ringing non-stop, our websites hit all-time traffic records and most of our contracts were multiple offer situations. With mortgage rates at an all-time low and real estate prices at ridiculously low price points there is not a better time to buy. Our inquiries from buyers have quadrupled in the past 2 months and is making up for the slow down from the Deepwater Horizion Oil Spill during peak season.
Fannie Mae Home Path foreclosures have been especially attractive for condo buyers as they are able to secure financing with only 10% and extremely competitive interest rates!
Foreclosures and short sales are the hot buys with great deals to be had in vacant land, homes and condos. Two of our listings were under contract within 3 hours of hitting the MLS.
The two consumer confidence reports can be read by clicking the links below;