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STAYING PUT

MATT’S MARKET CONNECTION

Recently, I spoke with an elderly woman in Clermont was just hit with a $1,000 increase in her insurance bill. With the rising costs of goods, utilities, property tax, and insurance, maintaining her house is becoming unaffordable.

After this conversation I looked into our local 55+ market and thought I would find more homes for sale in 55+ communities. The opposite is the case. The last 6 months of 2023 has had the fewest sales in the 55+ market than any other time in the last 6 years. In the last 6 months, there have only been 71 sales in the 55+ market in 34711. In 2022 there were 96. In 2021 there were 140. In 2020 there were 143. In 2019 there were 115. In 2018 there were 154.

Clearly, the increased cost of insurance and taxes are a burden. But the current interest rates have many of us (including 55+ homeowners) staying put, not moving, and waiting for lower interest rates in the future. And that has fewer homes for sale across every sector of our market.

If there is someone you care about who needs our support, we are here to serve. And, when the time comes for you to make a change, we will be available to serve you with honesty, integrity, capability, and kindness.

November’s Numbers for Clermont 34711

High interest rates are putting downward pressure on our home values.  The numbers this month reveal a decline in our home values year over year except for the new construction market in 34711.  Builders have been able to raise their prices to pay for rate buydowns and offer incentives.  Interestingly the median home built in Wellness Way last month was 237 sq. ft. smaller than it was this time last year (2622 sf vs. 2385).

Lydia’s Corner

Lydia has been our Transaction Coordinator at Hancock Realty Group since 2017. Last month, she mentioned that our newsletter only has statistics in it and statistics aren’t useful to everyone. So, now we have given her a job of writing something useful other than statistics. 

Watch this section each month for something useful from Lydia!

Great news! Living in Florida means that you can grow your own food all year long and save money! In Central Florida, you can plant a number of cold-hardy plants such as: Arugula, Beets, Broccoli, Brussel Sprouts, 

Cabbage, Cauliflower, Onions, and many more! 

Check out Our Listings to view all of our team’s homes for sale.

405 W Avenue, Mount Dora, Florida 32757

This jewel nestled in the historic district presents possibilities! This 3 bed/2 bath home comes with mature landscaping, a convenient carport, an indoor laundry area, a cozy wood-burning stove, newer HVAC (2019), ceiling fans in every room, and a practical storage shed in the backyard.

3 beds/2 baths  

1,364 SQFT  

$305,000

6150 PRINGLE LANE, IMMOKALEE, FL 34142

Property is secured, fully ditched out around the perimeter, with a single access road in and out. Irrigating with three permitted wells, this operation includes all working equipment. Licenses include Hemp Seed Dealer License, Hemp Cultivation license, and Nursery License. Easy access to major roads and business arteries. 

78 ACRES

$5,000,000

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