IS THE MARKET PICKING UP? WHAT GIVES?
The Whiskey Creek real estate market is more active than normal for this time of year. The number of homes for sale is down, the number of homes under contract and pending sale is up, and the number of homes being sold per month is up. All of this is evidence that the market is finally picking up steam from being down in the doldrums for the first part of the year.
If someone had told me that the market would be like this in the summer, I would have guessed that the reason would be a change in some of the things that have been putting a damper on real estate sales, such as:
1. High interest rates. But that isn’t the case. Home mortgage interest rates have changed little from the high six percent range for a 30-year fixed rate. Perhaps buyers are just becoming more accustomed to this rate.
2. Fighting in Ukraine and Gaza. Again, peace hasn’t happened yet. There is still conflict in both areas and more global unrest is happening in Iran and elsewhere.
3. High Home prices. After a decade of rising home prices, sellers who wanted to move their home did finally realize that the best thing they could do to stimulate buyer interest was to attractively price their home.
4. Rising insurance rates. We are a third of the way through hurricane season without damage from a named storm. The key to stability in insurance rates is stability in insurance claims. Southwest Florida needs to reclaim our reputation as the best place in America to enjoy retirement in paradise.
As we discussed last month, Whiskey Creek has enjoyed an especially favorable reputation with homeowners for many years. The recent improvements at Whiskey Creek Country Club are just another example of how our neighborhood just keeps getting better. Whiskey Creek Country Club attracts golfers and diners from near and far. Some discover how well kept our community is and more than a few have decided to live here. If you are not utilizing the club in some way, you are missing a good thing.
When Whiskey Creek was first developed in the 1970s, publicity and advertising by the site developer and home builders were instrumental in generating interest among prospective home buyers. Now it is mostly word-of-mouth and reputation that entices buyers to give us a look. As a Realtor, I know my job is much easier when a prospective buyer is already knowledgeable about Whiskey Creek. The more they know about our neighborhood, the more likely they are to want to live here.
Whiskey Creek is a terrific location and a safe community. We are convenient for shopping, health care, dining, worship, education, arts, beaches, and recreation. We are also a sound investment. Homeowners who choose to buy in our neighborhood are usually rewarded with a better than average return on their investment when they sell. It may not be for everybody, but for my money, Whiskey Creek is the perfect place to live. You can call Whiskey Creek many things, but the best thing to call it is home! If you have any questions or comments about this article or other real estate issues, please contact Bob Oxnard at [email protected]
