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Mr. Real Estate’s
Flour Bluff Messenger
February 2016
2015 Flour Bluff Market Report By Cliff Zarbock 2015 was another record setting year for Flour Bluff home sales! Hello everyone my name is Cliff Zarbock aka Flour Bluff’s Realtor, aka Mr. Real Estate. Having grown up in The Bluff and still living here today with my wife Ashley and 4 children, I have a deep love and connection to our small but growing community. That’s why for the past 5 years I have been focusing my real estate business attention here, having helped others buy and sell countless properties right here in my own backyard. Because of my local market expertise, I have been given the opportunity to write this monthly
in 2014 but still a very impressive figure. TAKE AWAY: More homes are selling for more money! However, these reports do show us that we may be at the peak of the market and the growth does appear to be leveling off a bit. This is mostly due to the low inventory. So if you’re ready to sell, now’s the time!
My predictions for 2016 The 2016 outlook looks promising but the inventory level could still use a jolt. Local developers recognize this and are rushing to meet the demand by building new homes in the area which is certainly helpful. That, along with more homeowners seizing the opportunity to take advantage of the hot market and get top dollar for their homes will be enough to keep the engine running strong throughout the year.
Fed Expected to Raise Rates
Real Estate Column here in the Messenger. My goal is to keep all who are interested informed with our ever changing real estate market. In each issue I will provide updates to the local market conditions, provide easy to read market reports showing exactly where the market has been and more importantly where it’s heading. For most of us, our homes are the largest investments we’ll ever make. So this column will help everyone keep their fingers on the pulse of their biggest asset. So without further ado… here’s my 2015 year end market report.
Flour Bluff Sales up 20% in 2015 Flour Bluff absolutely crushed it last year, selling 301 properties! That breaks down to 25 a month!! A 20% sales increase compared to 2014 and a 40% increase from 2013. The total dollar volume reached just over 54 million dollars; compared to the just 28 million sold in 2013. The average sales price went up as well. Rising 4.8% to settle at 180K for the area. Certainly not as strong as the 10.2% increase we saw
We will be also keeping an eye on the interest rates. There was much talk in early 2015 about a rate hike but it wasn’t until December that the Federal Reserve finally took action with a small increase. They are expected to do more of the same throughout 2016 so we’ll see what that does to those seeking affordable financing. If consumers are unwilling to pay higher rates we could see the market begin to turn. Until then, buyers will continue to lock in the historically low 30 year fixed rates. When it’s cheaper to buy a home then rent one, the market will stay strong!
Discover why over 17 million homeowners trust us.
FBISD is without a doubt a huge draw for The Bluff and in my opinion is the largest factor keeping our real estate market strong. With the ongoing improvements and planned expansions in the offing for 2016, (which I will cover in more detail in a later issue), FBISD will continue to draw people in seeking a top tier education for their children. And where there is demand, prices will rise.
Michael Duren Morgan, Agent 5515-B Saratoga Blvd Corpus Christi, TX 78413 Bus: 361-992-3636 michael.morgan.b4j0@statefarm.com
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