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Old 09-04-2013, 04:36 PM
 
1,507 posts, read 1,938,799 times
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As interest rates move up, do you think home values can not only hold on but move higher in the next year? I think they can. I feel that as the baby boomers start to retire and move to places like Fla. the prices will increase.
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Old 09-04-2013, 08:42 PM
 
Location: Port Charlotte, FL
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Home prices have been increasing along with interest rates. My concerns are that with homeowner insurance and flood insurance rates going up as well, it will knock more buyers out of the market. Some people may even have to sell their existing homes because they can't afford the insurance increases. That will force these older homes in flood zones to be purchased by investors or cash buyers who don't have to pay for flood insurance. I have also seen a large increase in lot sales and lot listings. New construction is increasing again too. We will see what these upcoming winter months bring.
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Old 09-05-2013, 11:53 AM
 
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I just got a report from one of the local realtors down there showing higher prices this past quarter compared to last quarter. But, when you look at the monthly numbers, the prices are coming down and especially in July. From the numbers I saw, the interest rates are definitely hurting home prices.
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Old 09-05-2013, 12:20 PM
 
Location: sarasota
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i think what's hurting the home sales is the usual real estate slow down in the summer months. And now, Im not an agent and could care less about prices right now since im not looking to sell right now.
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Old 09-05-2013, 12:56 PM
 
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Quote:
Originally Posted by photoman_6 View Post
i think what's hurting the home sales is the usual real estate slow down in the summer months.
I think I remember reading that the sales cycle there is different than other places because of the snowbirds. Just wondering about the sales cycle. When do sales normally start to pick up again?
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Old 09-05-2013, 09:35 PM
 
Location: Sarasota/ Bradenton - University Pkwy area
4,450 posts, read 7,106,259 times
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June, July and August are typically our slow sales months for real estate in the Sarasota area. People prefer not to move during the hot, humid and rainy summer months.

We have a "mini season" that starts in later September and runs up to Thanksgiving, but the main selling season here starts the first week of January and runs up until Easter. It's not unusual for an agent to do 3/4 of their annual business during the 1st 4 months of the year.
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