The real estate market across the nation is in a tailspin, with interest rates holding steady and buyers remaining cautious. It is actually fun to see all this money moving through the industry, knowing that this is decidedly NOT a dot-com bust, just a market correction. A very heady client has repeatedly told me that money is made in a bad real estate market, not a good one.

Make no mistake; there are deals to be had. What is most interesting is the increased level of interest for income-producing property. The buyers who are evaluating this commodity are finding that purchasing existing real estate, even if it is not performing to its maximum, is more cost-effective than attempting to develop a parcel. The growth averse attitude of those who know no better is prohibiting viable projects from even beginning. Now that we have been held hostage as a nation to rebuild the money pit known as New Orleans, building costs have made new projects untenable. It is quite the conundrum for commercial investors, but the free market has a way of sorting everything out.

Residential opportunities abound in and around South DeLand. Beth and I just listed a lovely golf-front home in Victoria Hills for $299,900. I will post the photos and particulars tomorrow morning. Our listing at 107 Brookgreen (listed at $289,900) is also one of the most competitively priced units in the subdivision.

More to follow, and email with any questions, comments, or bad jokes!

Posted by: Paul @ 3:26 PM