Part Time REI » gainesville http://part-timerei.com Real Estate Investing while Working Full-Time Fri, 03 Oct 2014 17:44:45 +0000 en-US hourly 1 https://wordpress.org/?v=4.0.38 Part-Time REI is a real estate investment education company. Our Lunch-Time Profits System is designed to teach you how to fix and flip homes in your spare time. We specialize in helping investors learn how to control their own financial future. Most importantly, we show you how to leverage other people's time and expertise to help you accomplish your goals. Finally, we provide systems so that you can repeat the process again and again. Erik Hitzelberger and Bryan Snider: Part-Time Real Estate Investors, rehabbers no Erik Hitzelberger and Bryan Snider: Part-Time Real Estate Investors, rehabbers support@part-timerei.com support@part-timerei.com (Erik Hitzelberger and Bryan Snider: Part-Time Real Estate Investors, rehabbers) Part-Time REI podcast with host Bryan Snider and Erik Hitzelberger talk about investing in real estate and flipping houses in your spare time. flipping houses, investing in real estate, part-time, second income, retire early, flipping homes, flipper, REI, rehabbing Part Time REI » gainesville http://part-timerei.com/wp-content/uploads/powerpress/Logo.jpg http://part-timerei.com Weekly Market Watch: The Most Balanced Real Estate Market? http://part-timerei.com/blog/2014/04/16/market-watch-balanced-real-estate-market/ http://part-timerei.com/blog/2014/04/16/market-watch-balanced-real-estate-market/#comments Wed, 16 Apr 2014 16:00:04 +0000 http://part-timerei.com/?p=2508 Florida was arguably one of the hardest hit area in the county by the mortgage crisis. We have seen many of the “Sand States” deal with the down turn but many are on their way back up. In our next issue of Market Watch we visit a city in Florida that has many experts calling it the most balanced real estate market out there. So what’s going on with Gainesville, Florida?

Gainesville is the county seat and largest city in Alachua County, Florida, and the principal city of the Gainesville, Florida Metropolitan Statistical Area. The population of Gainesville in the 2010 United States Census was 124,354 according to  Wikipedia.

Zillow reported in February this year that  the median home value in Gainesville is $133,500. Gainesville home values have gone up 5.0% over the past year and Zillow predicts they will rise 3.6% within the next year.  The city is prime for flipping opportunities with the  median price of homes currently being $150,000 while the median price of homes that sold is $130,900.

Gainesville home prices are up almost 20% from last year’s numbers. Despite the rise in prices, Gainesville remains one of the cheapest real-estate markets in Florida with a median home price of just $139,000. Folks that is  about 18% below the national average, can we say OPPORTUNITY?

The city was hit hard just like the rest of Florida. But the market is on its way up. Craig Wilburn, president of the Gainesville-Alachua County Association of Realtors, said he looks at buyer activity as reflected in pending sales and inventory to portend a turnaround. Eventually as demand increases and supply decreases, the market will reach a point at which prices stabilize, he said.

“If you’ve got a good product, a good neighborhood, priced under $150,000, it’s selling fast with multiple offers,” Wilburn said.

Essentially, what happened is most of the lower-priced homes in the market sold off over the past year, which has resulted in higher sales prices and less inventory. Unlike some of the other places being listed as great real estate markets, Gainesville has a very healthy six months’ worth of inventory, down from eight a year ago, creating perhaps one of the most balanced real estate markets out there on experts’ lists. 

 

To learn more about Part-Time REI visit us at http://part-timerei.com/

Or connect with us FB icon linked in icon

]]> http://part-timerei.com/blog/2014/04/16/market-watch-balanced-real-estate-market/feed/ 0