Our inventory numbers are up in our neighborhood from about six houses to twenty-seven, at the moment. We are listing agents, and have the Lion's share. Houses are going for asking price, some slightly over, but not the $30k-50k we were seeing last summer. Being a country club community, a lot of the homes for sale are second homes, so no Homestead exemption. Quite a few folks are unloading them as valuations have gone up 30-40%.
My mother/broker is taking advantage on a listing from another agent that usually works in town. She is buying a home that has been in architectural digests, absolutely stunning, priced at $222/sqft. It is easily worth $250/sqft, if not more. When my Dad passed she sold their 3400 sqft. home, and downsized to 2200 sqft. now back up to 3750 sqft. She also purchased the riverfront lot next to our six acres with a shop. CHIEF Jr. will build there. We will have three houses, bought and paid for in our neighborhood, and a finished out apartment at the shop, so housing for four generations. This has been our goal since last year, knowing that the only way our descendants will be able to own a home is through inheritance. So no matter their income, they will always have a roof over their head, and no house payment.
CHIEF