The formula for home sales in 2010 will be similar to 2009, at least during the first 4 months. The formula looks like;
Tax credit + REO + Short sales = Home sales in 2010
In order for this formula to be successful potential buyers who could qualify for the first time home buyer and long-time home buyers need to be aware of the limited time the tax credit is available to them. We will be getting the tax credit message out with a combination of traditional methods and online marketing.
The REO and short sale market will continue to be strong according to most reports during the first quarter of 2010. Some are reporting a huge supply of bank owned, REO property will be hitting the market during January, February and March of 2010.
In my office we enjoyed a significant increase in homes sold during 2009 compared to 2009. I expect the number of houses sold during 2010 to surpass the number sold in 2009 throughout the Orlando-Kissimmee Central Florida area.
Related Florida real estate blog posts on home sales
1 comment:
That's an essential formula. Good idea for first time home buyers.
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