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Carol Zingone's Blog

By Carol Zingone | Agent in Jacksonville, FL

John Tucillo, Florida Realtors Chief Economist at NEFAR Luncheon, 9/23/11

I was fortunate today to hear John Tucillo, Chief Economist for Florida Realtors, speak at our luncheon today.

It's amazing how much the news sources can skew data and statistics.

For example, Mr. Tucillo shared the following little nuggets with the audience:

  • August 2010 - August 2011: home sales (units) increased 10% statewide in Florida, and 13% in Northeast Florida
  • January 2011 - August 2011: home sales (units) increased 33% statewide in Florida and 53% in Northeast Florida

The real focus should be on the increasing units sold, because that is a better indicator, more reliable indicator of market stability than prices are.  There will continue to be downward pressure on prices as along as there are distressed (short sales and foreclosures) in the marketplace.

Still, those are some positive indicators up above, and certainly much more positive than what the news tends to report, at least in my area.

The three signs of recovery, he further pointed out are:

  • New listings decreasing year over year.
  • Absorption rate increasing year over year (not days on market, which can be misleading)
  • The ratio of sales price to list price increasing year over year.

We have the opportunity to be the messenger of the good news in the marketplace, and if we don't tell our own story, and back it up with factual information, then we are not doing our jobs.

(Disclaimer: these are my notes from the meeting, these items were not on power point slides)

Carol Zingone is a full service Broker Associate proudly affiliated with Prudential Network Realty in Atlantic Beach, FL.  I help buyers and sellers locally, regionally, and internationally.  With hundreds of happy buyers and sellers over the course of my career, I'm thrilled to help first time buyers, military buyers, seniors, investors, 1031 exchange properties, short sales and REO's.  I have spent hours honing my expertise, including the designations of Certified Distressed Property Expert (CDPE), Graduate Realtor Institute (GRI), Loss Mitigation Certification (LMC) , Short Sales, Foreclosures, REO's, (SFR), and Senior Real Estate Specialist (SRES).  Recently honored as the Realtor of the Year for the Northeast Florida Association of Realtors for 2009, I pride myself on providing excellent expertise to all buyers and sellers. Search the MLS via www.carolzingone.com  for Jacksonville and area listings!

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