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.
This is an audience participation post in which you are invited and encouraged to weigh-in with your opinions on one of our region’s most pressing economic issues. But first, read on.
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