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If
you're a
buyer,
it's a
great
time to
contact
a
professional
Realtor
with
Florida
Executive
Realty
Management
Corp.
A recent release from the Realtor Association indicates Single-family homes continued selling at a steady clip in the third quarter of 2009, increasing 33 percent statewide over the same time last year, and jumping 31 percent in Palm Beach County. It's a momentum partly driven by the $8,000 first-time home buyer tax credit.
The
extended
tax
credit
will
help
continue
to
absorb,
not just
the
foreclosures
that we
expect
to see
in the
pipeline,
but a
balance
of
homes."
Foreclosed homes and distressed properties are moving quickly. The bargain-basement sales have pushed down median home prices when compared to 2008. In Palm Beach County, the median sales price in the third quarter was $244,500, compared to $300,200 in 2008. Treasure Coast homes saw their median price drop from $150,600 to $111,200 — a 26 percent decrease. But while year-over-year prices decreased, they remained mostly stable locally when compared to the first and second quarters of 2009. Palm Beach County median home prices grew $4,100 in the third quarter compared to the second quarter. Treasure Coast prices dipped $700.
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