Dear Friends, 

I’ve enclosed my latest Newsletter as well as my Fairway Estates Market Watch Report for the 3^rd Quarter of 2011. 

There are some items that should be noted in the Market Watch Report (not noted in order of importance): 

?  Inventory of single family homes offered for sale is declining. What is not known is what is referred to as the “shadow inventory”. These are the homes that banks have in their inventory of foreclosures as well as the number of homes that they have not finalized or commenced foreclosure proceedings.

?  Number of homes sold is up and a “nominal” increase in the average sales price in the Greater Daytona Beach area.

?  Number of homes sold in Fairway Estates is up significantly but unfortunately the sale prices are down significantly.

?  Of the 25 homes that sold in Fairway Estates up until September 30^th, 2011 twelve homes were “bank owned” representing 48% of the homes sold. Five homes were “short sales” representing 20% of the homes sold. Eight homes representing 32% of the homes sold were regular sales. This means that 68% of all the homes sold in Fairway Estates in the first nine months of 2011 were “distressed sales”. 

?  Homes listed by Ed Savard continue to SELL, sell faster and for more money.

 This real estate market continues to be a difficult market for home owners who purchased their homes in the so called “boom years” or refinanced their homes during this period and now must sell. Many of the home sellers that I represent fall into this category. If you, or someone you may know is having difficulty making their mortgage payment, owe more on the home than it’s worth or perhaps in arrears and facing foreclosure, there is an alternative to foreclosure. That alternative is a “short sale”. Call me for a “no-cost, no-obligation FREE consultation if you would like to know your alternatives to avoid foreclosure.

 With the convergence of ROCK-BOTTOM prices, the lowest mortgage rates in recorded history and motivated sellers, we are about to see the most incredible buyer’s market that we’ve ever thought about in the history of our lives. Years from now many astute buyers will look back on this current market and be grateful that they acted upon the opportunity to purchase a home, “move up” to their dream home or purchased those investment opportunities. Others may look back and say, “if only….”

 Please provide me the opportunity to serve your real estate needs in Fairway Estates and in the Greater Daytona Beach area. Or, if you’re relocating I can also put you in touch with a qualified and reputable Realtor anywhere in North America. I look forward to earning the opportunity to represent you or to anyone you may refer to me. Thank you!

 Most Sincerely,

Ed Savard, Your Fairway Estates resident Realtor.

PS: As we approach Thanksgiving lets count our Blessings and remember those less fortunate that we are. Happy Thanksgiving!