Across virtually every segment of the economy, 2009 sputtered-in as miserably as 2008 sputtered-out. Yet in spite of its many challenges, the past year showed that it’s better to light one candle than to curse the darkness. For if the experiences of 2009 taught us nothing else, we learned that true professionals united in common cause can truly make good things happen.
That’s how agents from Michael Saunders & Company helped re-awaken the region’s comatose housing market in 2009. United in purpose and armed with statistics to prove the point—they were able to educate sellers to the new realities of a market in which competitive pricing is key. Of course, it never hurts that ours remains Florida’s top destination for a lifestyle rich in world-class cultural and recreational amenities.
With corrected prices now the accepted norm and the popular first-time homebuyer tax credit renewed for another six months, buyers have rushed in and put the market on the fast track to stability. They’ve driven up year-over-year the number of home sales by as much as 63 percent, according to the most recent monthly MLS sales recap for November. As a company, Michael Saunders & Company is proud to announce that our agents finished 2009 with over $1 Billion in closed dollar volume and exceeded our 2008 production. It took 30 percent more transactions to accomplish this uphill feat, but lowered prices proved the catalyst by which buyers were finally heartened to return to the market.
Even as the S&P 500 gained over 69% from its annual low, holiday sales rose and the consumer confidence index improved over 40% in 2009, economists are dubbing 2010 a “Tabletop” year for the real estate industry. This means that having clawed its way back to a sustained level of sales activity, our market will continue in something of a horizontal recovery; without any major setbacks or much in the way of noticeable price appreciation, until the job market picks up and the inventory of properties—especially foreclosures—drops off. With unemployment showing signs of slowing, we are beginning to see the impact of our stimulus dollars at work.
Homebuyers probably don’t see themselves this way, but as they step up to take advantage of the best housing values in more than a decade each becomes their own personal economic stimulus package, securing for themselves a fabulous long term investment even as they help rescue the economy from the mess it’s in. More likely, they see themselves as grand prize winners in the housing sweepstakes; smartly timing the market just as prices are bottoming, interest rates are at an all-time low and the first time homebuyer tax credit is on hand to add an extra dollop of icing to the cake. Moreover, if you also happen to be a newcomer to Florida your decision to move your primary residence to one of the least-taxed states in America will be the gift that keeps on giving.
