-we announced new listings, price adjustments and pending properties.

-discussed the results from Sunday’s open houses.

-acknowledged some agents that had newspaper articles written about them.

-getting a new, faster, state of the art computer server.

-discussed client expectations primarily with pricing, of course.

-commercial update: 

• 2009 had a 20%-30% decline, 30%-35% vacancy rate
• no new building permits at all, unemployment a big factor.
• Martin County at 12% unemployment but realistically is much higher.
• our area has a large population of self employed such as myself and we are

not included in the % given for unemployment…

• commercial loans are very hard to get right now.
• only thing on the commercial side moving right now are the sales of

multifamily properties (duplex, triplex), condo are being converted back to rentals.

• offices are upgrading into nicer offices for the same price.
• tons of industrial space out there, 50% off prices.
• plenty of retail out there
• a few companies have moved here and we have kept the ones we have
• some new projects are: mulligans in downtown stuart, county could be moving

its admin to sailfish park and be close to the courthouse, etc, that will add more shops

and restaurants and maybe an amtrack station, the owner of riverwalk in downtown

purchased artichoke cafe on ocean blvd and is making another rest. there,

edelwiess deli in downtown closed and will be a bagel brothers, the aquatic park was

approved and the leach mansion by indian river side park is now open for functions.

There is also a new assisted living facility going up off Indian St. 

     I hope all this info has been useful and if you ever need any questions answered

please dont hesitate to call my cell anytime, 772-341-0497…

- discussed in house procedures.
- real estate attorney came in to discuss the new HUD form and the changes involved with it.
- please contact me if you would like more information about this topic as its pretty extensive.
- the office then went on our monday tour of new listings.
- have a great week everyone, please keep me in mind for all your real estate needs…..Steve

-we discussed some in house policies
-the inventory keeps coming down, at 1785 total in Dec, two years ago inventory was 2900.
-about 150 homes a month are selling
-the 3 month moving average is stabalizing at around 12-13 month supply of homes.
-trend indicator for December 09′ says 226 homes under 100k listed and 226 sold, 392 between 100-199k, 337 sold, these two ranges are still real hot right now and not many left in Martin, 294 between 200-299, 184 sold, 252 listed between 300-399, 84 sold and 148 listed between 400-499 and 29 sold. keep in mind Dec usually is a slower month with the holidays and family in town but still we had good activity.
-we toured 7 new listings, now is the time to put your house on the
market, buyers are out there and are feeling very impulsive that they are going to miss the great deal. Martin is at the bottom of the market for sure, a few pockets are still bouncing. Please dont hesitate to call me if you have any questions, thanks and look for next weeks PRG sales meeting notes!!!

Hard to believe, 2009 is almost history. We closed on twice as many transactions as last year, but prices were mostly below $200,000. We’ll be posting our SnoBob report early next month, with our predictions for 2010.

In the meantime, have a great Holiday Season!!!

Well, here we are about a third of the way through NFL season, and the Giants look like a juggernaut again. And, oh yeah, the Yankees got through the first playoff round, but the Angels always play tough against us. And so much for the cool front predictions, now postponed till this weekend (Oct 17-18). But the market is hot, and the inventory of homes is coming down significantly, another sign that prices are stabilizing. 

Hey come on down, we’ll look at some property and watch some NFL together!!!   Bob and Steve