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The other night we planned to have a bonfire at our house. Ray heard some of his high school friends from Michigan were in town and we invited them over to enjoy it with us. What fun we had on that moonlit night as they laughed and reminisced about childhood! A similar thing happened a couple years ago when a friend from my high school in New Mexico posted he was going to be in Venice, FL. and it turned out to be about 10 friends from high school. We all got together at our home after dinner and it was a hoot reconnecting and reestablishing those long lost friendships. Over and over we have had the joy of reconnecting and deepening friendships with friends and family from all over the country. Why does it happen so often? Because we live in Southwest Florida.
Being in real estate we have developed friendships with customers from all over the country and even internationally. That’s one of the great and special things about life in Florida, people love to come here. A recent study says Florida is the fastest growing state, that is according to the 2022 Census Bureau’s Vintage report. That hasn’t happened since the 1950’s when air conditioning was developed. Southwest Florida in particular is growing, over 20,000 folks have moved and made this area their permanent home in the last four years. With all the sunshine and blue skies, the Gulf of Mexico right here and the comfortable “island life” vibe, it’s hard to resist. Southwest Florida offers outdoor living for every taste. We have beautiful golf courses, pickleball groups and great tennis. There are all kinds of water sports, from sailboating, deep sea fishing, SUP and kayaking too. What is really taking off is bicycling and there are new trails and paths being developed. Have you checked out the preserves, parks or the incredible hiking trails?
Since Florida is growing that means people are buying houses. That is keeping our inventory low. Buyers though are dealing with higher interest rates and inflation. This means buyers are more cautious in their house hunting. The market is not the same as it was in 2021 through summer of 2022 when a house was on the market for mere hours. Now, we are looking at a house staying on the market for weeks and dare I say it, even months. The inventory of homes on the market is hovering around three months in most price points. Sellers are also finding that pricing too optimistically doesn’t work and that prices are simmering down. Prices are not crashing. As you watch the market you will see some homes decreasing their price. The prices are not being adjusted because the sellers priced too high, but rather the market simmered. Now Realtors are working to accurately price property after the frenzy and factoring in inflation. As Ray says, “There are three prices: the seller’s price, the buyer’s price, and then there is the market price.” The market price is the one that matters, that’s the price that gets buyers and sellers to the closing table. The value of living along the Gulf of Mexico and in Southwest Florida is still strong and that is reflected in our real estate market staying steady.
Here is a story about a couple who found their fun in the sun HOME!
Click on the pic to read their "Said YES to the Address"
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