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Wednesday, February 27, 2013

Perfect Storm: March may be best time to sell...and buy

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        Spring is a notoriously good time to list a home for sale. Temperatures are warming, the crocuses are starting to push up through the damp ground, and folks who might buy your house are thinking ahead to September, the best time for their kids to enter a new school. According to the real estate web site Trulia.com, though, some markets are going to be hotter than others next month.

        The web site’s analysts looked at sales patterns state by state since 2007 and determined the best times of the year to their homes for sale. They came up with a number of states where March could go out like a lion if you list and price your home right. By April, you could be looking for your dream house on a golf course in the South, flush with more than enough cash for the transaction and on your way to a more active but less expensive lifestyle.

Cape_Fear_National_8th_green

The cost of living in Leland, NC, home to Brunswick Forest and its fine Cape Fear National Golf Club, is as much as 50% lower than in some northern cities.

 

        Along the eastern seaboard, more buyers in Delaware, Maryland, Virginia and Georgia will be looking for homes in March than in any other month of the year, according to Trulia. In the upper Midwest, the same will be true for homes in Michigan and Ohio. And in New England, Trulia indicates just one state, Massachusetts, will be hotter in terms of sales in March than its neighbors.

        More buyers looking for homes in March could push up the price for your home, especially if local inventories are thin. Some markets are reporting bidding wars, a relic of the early 2000s, and sale prices higher than the list prices. But buyer demand is not the only good reason for couples considering a move to warmer climates to consider listing

Historically, according to Trulia, March is a good month to list a house for sale.  With a short supply of homes on the market and increasing demand, next month's sales figures could be impressive.

their primary homes in the coming weeks. Prices for golf community homes in prime southern U.S. locations are rising too, some at rates faster than those up north. The reason is that many of our neighbors are beginning to make the move South, pushing up demand down there. They are finding, also, that not only is comparable real estate cheaper in the South, at least for now, but overall cost of living is less -– sometimes a lot less (see below).

        To demonstrate potential buying power for those considering a move north to south, we compared recent selling prices of homes in some of the states Trulia says will be hot commodities in March with the current prices for comparably sized homes in popular golf communities in the southeast. (Where we could find recent sale prices, we used those; otherwise, we used listing prices.) To further illuminate the financial aspects of a move from north to south, we added a figure for the change in cost of living. (Cost-of-living data from BestPlaces.net)

        If you would like us to work up the numbers for your dream move to a golf community, just fill out our Customer Questionnaire or contact us directly.  We will respond promptly and will always keep your personal information strictly confidential.

 

From Massachusetts to near Wilmington, NC…

Sold:     41 Oakhurst Cir, Needham, MA

             3 BR/2.5 BA, 1,946 sq. ft.

             Price: $700,000/ $360 per sq. ft.

Recent Sale: Brunswick Forest, Leland, NC

             3 BR/3 BA, 2,000 sq. ft.

             $329,500/$165 per sq. ft.

COL change: 51% decrease

 

From Ohio to the coast of North Carolina…

Sold:     9963 Morris Drive, Dublin,OH

             4 BR/3 BA, 2,451 sq. ft.

             Price: $560,000/$228 per sq. ft.

For Sale: Ocean Ridge Plantation, Sunset Beach, NC

             3 BR/3 BA, 2,300 sq. ft.

             $387,500/$168 per sq. ft.

COL change: 8% decrease

 

From Michigan to the mountains of North Carolina…

Sold:     3875 Lakeland Lane, Bloomfield Hills, MI

             3 BR/3.5 BA, 3,000 sq. ft.

             $850,000/$283 per sq. ft.

For Sale: Champion Hills, Hendersonville, NC

             4 BR/3.5 BA, 3,275 sq. ft.

             $695,000/$212 per sq. ft.

COL change: 38% decrease

 

From Mclean, VA to near Savannah, GA…

Sold:     819 Ridge Drive, Mclean, VA

             4 BR/2.5 BA, 3,056 sq. ft.

             $903,530/$296 per sq. ft.

Recent Sale: The Landings, Savannah, GA

             3 BR/2.5 BA, 3,166 sq. ft.

             $353,000/$112 per sq. ft.

COL change: 30% decrease

 

        We list a selection of current golf homes for sale in these and other golf communities at our companion web site, GolfHomesListed.  Check it out by clicking here.

Read 2985 times Last modified on Friday, 27 September 2013 11:29
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Larry Gavrich

This blog was conceived and is published by me, Larry Gavrich, a former corporate communications executive who founded HomeOnTheCourse, LLC, in 2005.  Our firm advises baby boomers and others seeking a lifestyle in which golf is a major component.  My wife Connie and I own a home in Connecticut (not on a golf course) and a condo at Pawleys Plantation in Pawleys Island, SC, on a Jack Nicklaus layout.  We began our search for our home on the course more than 15 years ago, and the challenges of the search inspired me to research golf communities and write objective reviews of them.

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