What’s happening in our local real estate market?
As a whole, our market is very healthy right now. There are indications that it’s converting into a buyer’s market but some of that is due to December being a traditionally slow month for a vacation market, such as ours.
We are in one of the fastest-growing areas in the country for primary residents, and we’re being discovered on a national level. Growing up in this area, I can tell you that, historically, most of our real estate traffic has come from the Southeast region. Now, though, we have residents coming from as far away as California.
In the past, whenever we had a rise or fall in the market, there was so much speculation in our area that a lot of people who bought properties didn’t have the holding power to keep them and shouldn’t have been buying those properties on the level that they were. Today, there isn’t nearly as much speculation. The activity in our market now is based more on our exposure and people wanting to live in our area.
If you get a loan, lenders are very strict right now about who they’re lending to. There is a lot of cash entering our market, and that’s a strong indication of longevity. Another indicator I always look at in gauging market strength is how the commercial growth is happening in that area, and our commercial growth has been great lately. We have a brand-new 5-star hotel, a new Whole Foods, and plenty of new shopping centers up and down Highway 98. These property developments are all signs of a strengthening market.
Shopping and Entertainment, Brand New and Expansions:
If you have any questions about our market or if there’s anything I can assist you with, please feel free to give me a ring or shoot me an email. I would love the opportunity to serve you!