Come in From the Cold and Let the Housing Market Warm You Up!

The month of December finished on a high note with 128 SFR sales for the month and a total of 1,397 for the year. However December was the first month since July with more short sales (60) than non-distressed sold (54) and the second time we broke through the $150,000 median price (MP) bottom. The drop in (MP) was due to the high number of SFR sold under $99,999 which was 21. In October there were 23 SFR sold under $99,999 and we saw similar MP for the month, $150,000. I believe the market will continue to move along at the current pace even with another rash of possible loan defaults in 2010. Continued sales will be in part because the federal administration has extended and expanded the Federal Home Buyers Tax Credit until April 30, 2010. Loan defaults will be in part of continued high unemployment in Flagler County.

Short sales are still a concern. As of December 31^st over 79% of all pending home sales (PHS) were short sales, 412 of 517. Some neighborhoods the percent is over 95%, with Lehigh Woods and Seminole Woods being the highest. Locally, high unemployment will continue to increase our short sale market. We are experiencing 16.9% unemployment in Flagler County and with no jobs in sight we'll continue to have high unemployment. If you have questions about the sort sale process visit our new web site at Short Sales Explained.

Condos continue to be a great buy. Units in Fairways and Woodlands have sold for under $75,000. These units are perfect for the snow bird wanting to get out of the weather up north. If you or someone you know is looking for a condo, now is a GREAT time to buy in Flagler County.

A recent TV program promoted homeowners to walk away from their homes. Please before you or anyone you know even thinks of that as a solution please read below and then contact us.

Banks pursuing payback from walkaways

Increasingly aggressive mortgage lenders seek money from former owners who had a short sale or walked away. Read more.

If you have questions for a particular property please call, 386-931-0487 or toll free 888-355-8959

The below Table shows a month-to-month and year-over-year comparison of single family home sales for 2007, 2008 and 2009. The 2008 and 2009 median prices are with distressed properties removed. The 2007 short sale and REO (distressed properties) data was not available.

	2009	2008	2007
	Total Sales/Arms Length	Median Price	Total Sales/Arms Length	Median Price	Total Sales	Median Price
January	66/20	$162,950	53/49	$160,000	102	$225,000
February	98/31	$170,000	102/58	$177,500	118	$230,000
March	101/35	$179,000	105/65	$190,750	125	$206,500
April	110/46	$173,000	116/71	$205,000	98	$220,000
May	114/49	$165,000	135/83	$210,000	125	$206,500
June	132/62	$185,000	116/77	$190,000	120	$214,000
July	141/63	$167,000	113/68	$196,700	103	$208,000
August	131/59	$175,000	114/71	$170,000	93	$220,000
September	127/56	$175,250	115/62	$199,500	85	$202,450
October	128/58	$150,000	96/46	$170,950	75	$200,000
November	115/57	$175,000	86/38	$169,900	83	$198,000
December	126/49	$147,000	111/37	$170,000	73	$180,000

For a full list of homes on the market visit our web site at http://www.jimmyandannette.com