Selling Poinciana One Property at a Time.: Poinciana Florida Real Estate Report for May 2009

Poinciana Florida Real Estate Report for May 2009

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All I can say is WOW!!! Poinciana is down to 648 active listings.  Considering there were almost 1100 in January this is incredible. That’s a decline in inventory of 59%. Yowsers!!! Inventory is flying off the shelves.

Here’s another goodie. There were 132 closings in May. To put that in perspective, last year from January through May, there were 162 sales TOTAL for the 5 month period.

This year for the same 5 month period there have been 559 sales. That’s an increase of 345%

AND…..values are UP!!! Not much. But they are up. 2.5% from April to May of this year.

Now folks, I personally feel this change, while very positive, is temporary. My opinion is that another huge wave of foreclosures will be hitting the market after the summer. I truly hope I’m wrong.

Anyway, lets enjoy a little positive news while we can.

Here’s the lowest priced home in Poinciana Florida today.

652 Floridian

 

3 bedroom 2 bath built in 1989 with 1274 sq ft of living area. It’s a bank owned property priced at $24,900. It came on the market this morning.

 

1006 Blackpool

 

The most expensive home is this 2658 sq ft home built in 2002 with 4 bedrooms, 3 baths ands a pool. This is a Short Sale priced at $350,000!!! Yikes!

 

 

OK that’s it for me. See ya!!!

***All data was pulled from the Mid-Florida Regional Multiple Listing Service and covers the Poinciana Neighborhoods excluding Cypress Woods and Lake Marion. 

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Comment balloon 22 commentsBryant Tutas • June 02 2009 04:30PM

Comments

TLW....where are you?

Posted by Bryant Tutas, Selling Florida one home at a time (Tutas Towne Realty, Inc and Garden Views Realty, LLC) about 10 years ago

Hi Bryant. Quite a bit of range on those prices for sure and things MUST be turning around if the inventory available has changed that much. Good luck with the road paved smoothly ahead for you.

Posted by Gary Woltal, Assoc. Broker Realtor SFR Dallas Ft. Worth (Keller Williams Realty) about 10 years ago

Right here Hun :)

Posted by "The Lovely Wife" (Broker Bryantnulls Wife) The One And Only TLW. (President-Tutas Towne Realty, Inc.) about 10 years ago

I visited a builder today to collect a brochure to an out of town buyer and they are . . . .  hold you hat, raising their prices and have already lowered the incentive. 

This in response to selling a few homes over the past couple of months.

I expect this will all be reversed when the summer doldrums come.

 

Posted by Lenn Harley, Real Estate Broker - Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate) about 10 years ago

Bryant,

Your market can use some good news.

Bill

Posted by William J. Archambault, Jr. (The Real Estate Investment Institute ) about 10 years ago

Bryant, That's really good news but I hope your prediction for future foreclosures does not come to pass.

Posted by Barb Szabo, CRS, E-pro Realtor, Cleveland Ohio Homes (RE/MAX Trinity Brecksville Ohio) about 10 years ago

Bryant, TLW is falling down on the job, she wasn't the first one to comment ...... LOL

This is the type of Market Report I like to see, all the numbers going in the righ direction :)

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) about 10 years ago

BB, well, that is good news. Lets not think of the other thing you mentioned. Good news is good news!

Posted by Andrea Swiedler, Realtor, Southern Litchfield County CT (Berkshire Hathaway HomeServices New England Properties) about 10 years ago

I hope you're wrong about the next wave of foreclosures, too, Bryant, but all indications are that you're right.  While I'm not a Realtor myself, as a virtual assistant who works with Realtors, when business is good for you guys, business is good for me.  What great sales statistics, though.

Posted by Heather Chavez, Real Estate Virtual, Assistant (928) 692-3235 (Second Self Virtual Assistance) about 10 years ago

BB- wow! The statistics are amazing!  I hope you are wrong about the huge next foreclosure wave-- meteor out there moving toward planet earth

 

Posted by Mary Douglas, REALTOR, Red Feather Lakes, Colorado (United Country Ponderosa Realty, Red Feather Lakes, Colorado) about 10 years ago

Bryant - I don't follow the Florida market very closely but only $24,900 for a house just 25 miles from the Happiest Place on Earth???  Are there lots of houses in that range in Poinciana?

Posted by FN LN about 10 years ago

WOW is exactly right! That is a huge drop in inventory. Things are weird (lol) around here as I have been looking at the stats the last two days. We are down in many areas in # of sales for the year, last month picked up and now pendings are down again... strange winds blowing. ~Rita

Posted by Brian Burke, Broker & Advising Expert-Denver Luxury Real Estate (Kenna Real Estate) about 10 years ago

Bryant- That is some great and like you said, temporary news! Unfortunately the new wave is about to be unleashed on all of us here in good old Florida. What a low price for the lowest price, that would still only get you a shed here:) But in West Palm you could get a 1/1 condo for that right about now and your HOA would be higher than your mortgage payment! How do you like them apples!

Posted by Katerina Gasset, Get It Done For Me Virtual Services (Get It Done For Me Virtual Services ) about 10 years ago

BB, Poinciana's numbers look good. I agree with you that we will be seeing a second wave later in the year - and not just in Florida.

Posted by Maria Morton, Kansas City Real Estate 816-560-3758 (Chartwell Kansas City Realty) about 10 years ago

Wow, BB, those are some significant changes. Wonder if it will become a trend or just a passing fancy. We keep hearing about more REOs being released but as of yet are not seeing much in our area. Time will tell. If they are hopefully it will be more gradual.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) about 10 years ago

BB - We can all use some good news - short lived or not - it is still good news. What is the percentage of REO's sold vs. regular sale? 

Posted by Petra Norris, Realtor, Lakeland FL Homes for Sale (Lakeland Real Estate Group, Inc.) about 10 years ago

Bryant, great stats.  And very impressive.  Our inventory is down also, but I don't see values going up as of yet and I feel a huge latent market getting ready to come live.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) about 10 years ago

That is great news.  We are feeling the change here in Orlando as well.  I do agree with you that the change may only be temporary.  When the banks lifted their moratoriums in April, we had about 8 listings that got lis pendens filed against them.  Another huge wave of foreclosures are coming.  Sign up with the REO companies now.

Posted by Rob Arnold, Metro Orlando Full Service - Investor Friendly & F (Sand Dollar Realty Group, Inc.) about 10 years ago

Temporary or not, that's some positivity in your market relative to previous posts of yours.  Glad to hear it!

Posted by Kevin J. May, Serving the Treasure & Paradise Coasts of Florida (Florida Supreme Realty) about 10 years ago

BB, following your blogs over the years has been nothing short of amazing- it's like seeing everything that might be coming (NY) in advance. The bonus? Watching someone navigate it so well.

Posted by Laurie Mindnich about 10 years ago

Good News Indeed!   With prices this tempting who could resist?  

Posted by Allison Stewart, St. Cloud Fl Realtor, Osceola County Real Estate 407-616-9904 (St.Cloud Homes ) about 10 years ago

$24,900!!!! What a bargain! It's great houses are starting to sell well again in your area!

Posted by Lizette Fitzpatrick, Lizette Realty, Lexington KY MLS - Kentucky Homes (Lizette Realty - Richmond KY) about 10 years ago

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