I just finished an interesting interview with Suze Orman where she reminded us to remember the stock market is not the economy and there is plenty to be afraid of. Like me, Suze stated she is not believing anything “they” tell her. Like me, she believes it’s going to be a rough road ahead. We are going to see lots of foreclosures, lots of bankruptcies and Suze feels 40% of the jobs lost during the coronavirus will not be coming back. The debt in this county is off the chart and lots of concern in the air with the hatred and divide we are seeing politically.
But, for now the stock market is doing well and locally the real estate market has never been stronger. However, over the last 30 days the median price of a condo fell below the $250,000 benchmark for the first time since December. Granted the fall was not big, from $250,000 to $249,000 but a sign that around the corner things may not be quite as bright.
Condo sales for the month were low. Almost 20% above last month’s dismal, historically low performance, but 31% below last years numbers and below every other year for the same period since Paradise Sharks has been keeping records.
Life is a roller coaster and America is on one wild ride both economically and politically. A limited supply of homes, still strong demand and historically low interest rates have kept the real estate market in the Northern Palm Beaches very strong. Keep your eyes and ears open if the value of your home is important to your peace of mind. Keep informed and if Paradise Sharks can be of help in any way please feel free to contact us at your convenience at 561.308.0175 or firstname.lastname@example.org. Our small business model has kicked the middleman out of the real estate transaction and saves our clients thousands of dollars on every transaction. We sell homes fast, we sell homes for record prices and our commissions are so low it will make your bank account very happy. And if we do not do exactly what we say we insist you fire us. It’s as simple as that.