The Forgotten Coast is visited year round by wildlife enthusiasts of all kinds!
With this area being the first land mass on the spring migratory flyway, it's a bird-lovers paradise! Mass migration of birds from Southern America begins; we are on the first stop.
In April we have all sorts of Songbirds, Swallowtail, Mississippi kites and even the great-crested flycatchers. Hummingbirds are seen feeding on various native flowers. Red-headed woodpeckers breed in April so many can be heard pecking away in the trees. At the same time, Northern ducks depart to their summer (and cooler) homes to the north.
If you are selling property, calculating the absorption rate is a critical tool in helping to determine how to price your property to sell. It is as important as the comparable market analysis that your Realtor will provide and as important as an appraisal. This is to assure the proper positioning for your property to sell.
In a resort area, a balanced real estate market is one that has 6.5 to 7 months of inventory available, which is calculated by using absorption rates. In a traditional market, 5.5 months of inventory indicates a balanced market. Less than that indicates a sellers market; more than that indicates a buyers market.
Absorption rate is calculated by selecting a period of time, usually six to twelve months. Then, determine your property category (beachfront lots in St. George Plantation or condominiums at Mexico Beach) and find out how many sales occurred in that category over that time period. Divide the number of sales by the number of months selected to arrive at the absorption rate. Then, divide the current number of listings in that category by the absorption rate. That number indicates the months required to deplete the current inventory
# SOLD _________ = RATE# MONTHS
# LISTED________ = MONTHS TO DEPLETE INVENTORY RATE
For example, if six properties sold in a specific category over the past twelve months, the absorption rate is .50 (6 divided by 12). If there are currently twelve properties listed in that category, there’s a 24-month supply of inventory (12 divided by .50).
Sellers with the help of their Realtor, should determine the supply of inventory in their category, then position, or price, their property according to their time frame for selling.
KARA LANDISSYour "Island Real Estate Partner" Kara Landiss | 140 West 1st. Street, Suite D | St. George Island, Florida 32328 | (850) 927-2666 © 2003, An independently owned and operated member of the Prudential Real Estate Affiliates, Inc. is a service mark of the Prudential Insurance Company of America. Equal Housing Opportunity.
KARA LANDISSYour "Island Real Estate Partner"
Kara Landiss | 140 West 1st. Street, Suite D | St. George Island, Florida 32328 | (850) 927-2666 © 2003, An independently owned and operated member of the Prudential Real Estate Affiliates, Inc. is a service mark of the Prudential Insurance Company of America. Equal Housing Opportunity.
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