Let’s All SLOW Down…December 20, 2007
by Linda Hutchinson
‘Tis the season and good news is here. There is a definite slow down in construction starts for new homes and that is GOOD NEWS for the real estate industry. As reported in the following article, builders are pulling back on new construction and that means that there will be less competition for resale property, fewer incentives for new homes buyers and the at best, a start to the recovery of the market. When the market is saturated with homes, it makes selling existing inventory very difficult. On the plus side, we are also seeing a return of buyers and the luxury home market continues to to be strong with 43 recent sales in he month of November according to the Orlando Regional MLS. The highest listing sold in November was for $4.5 million and was a waterfront home in Winter Park. Luxury home buyers know what the rest of the buying public should realize…NOW IS A GOOD TIME!